Honest HotForex Review | Find out what real traders say about this broker!

In Forex trading, it is just as important to have a reliable broker, as it is to be knowledgeable about the industry. There are plenty of brokers available on market today, but not all of them are trustworthy. Usually, it requires thorough research in order to identify the flaws within the brokerage firms, therefore, often people will go for the wrong brokers and either lose their fortunes to scam brokers, or get their private data stolen. For that reason, we provide extensive researches to our readers in order to help them find reliable Forex brokers.

HotForex is one of the most trustworthy brokerage firms that we have encountered so far. The service that the broker provides got a lot of attention recently and earned the firm numerous awards for the excellence as a broker. We will go through all the aspects in greater detail in the below review of HotForex Forex broker.

About HotForex

HotForex was formed in 2010 and is the brand name of the company HF Markets Group that runs several subsidiaries of the HotForex brand. The European branch is under the name HF Markets (Europe) and is regulated by CySEC under license number 183/12. Other branch locations include Mauritius, St. Vincent & the Grenadine, and South Africa; and the regulators in all these locations license the company. At the moment, HotForex is regulated by 5 different regulatory authorities, which are the most recognized in the industry. The named authorities are the Financial Conduct Authority in the UK,  Dubai Financial Services Authority, Financial Sector Conduct Authority in South Africa, Financial Services Authority in Seychelles, and St. Vincent & the Grenadine.

HotForex Review

With such a wide global presence, HotForex has been able to sign up more than 2,500,000 active accounts from many countries and regions around the world. Besides its global presence, the company has also received multiple awards for its services including client fund security, customer service, and even the best Forex broker in Asia and Europe.

about HotForex

The reputation of HotForex precedes it, making them a reliable broker. Enough of the praise, though, let’s look at what really matters to you and why you should choose HotForex.

Features of HotForex broker

Trading products

HotForex offers around 1000 different trading instruments. Within the Forex market, clients can trade with 50 currency pairs available to trade, which are more than enough since exotic currency pairs are included. You also have access to other markets including:

  • Commodities – such as cocoa, coffee, cotton, etc. These are offered in the form of CFDs, which minimizes the capital requirements while maximizing profits
  • Shares and Indices – HotForex is connected to Tier 1 banks which provide access to the most prestigious exchanges in the world. Therefore, you can trade indices like the NYSE and LSE and have access to stocks on both sides of the Atlantic. Over 55 shares are available including Facebook, Amazon, and Google
  • Metals and energies – you can also trade precious metals like gold and silver while keeping an eye on oil products
  • Cryptocurrencies – all the major and dominant currencies are available to trade with HotForex
  • Bonds and ETFs – There are over 30 ETFs available to trade and major Bonds like the US 10-year Treasury Note
  • DMA Stocks – start trading Derivatives on 950+ DMA Stocks with HotForex

Trading conditions

It wouldn’t matter having all these great products if you didn’t have proper access to the markets, and HotForex has worked very hard to make sure the trading conditions are suitable to every kind of trader. The thing we like most about HotForex, though, is their customer support. The support staff is always very helpful and knowledgeable about their products, which is great compared to other brokers we’ve seen.

hotforex trading conditions

Besides that, the high HotForex rating comes from the fact that the broker has enticing offers, including the high leverage going as high as 1:1000. Also, you get a bonus of up to 100% on every deposit, which coupled with the high leverage can enable you to control large positions in the market. Withdrawals are also very fast and can be done in a multitude of ways from bank transfers to online payment systems, credit cards, and even bitcoin.

HotForex banking options

Two of the most popular trading software, MetaTrader 4 and MetaTrader 5 are available, on both PC and mobile. Furthermore, you can also use these platforms on their web version, if you prefer WebTrader instead. Furthermore, if you like using trading robots, you will also be glad to hear that HotForex offers VPS services, for free! There also are no limitations to the types of trades allowed, since hedging and scalping are both allowed.

Types of accounts

HotForex Forex broker recognizes that people’s needs are different, so they have created different types of accounts for each trader. All account types come with the personal manager.

  • Micro account – the minimum deposit on this account is $5, yet you still get up to 1:1000 leverage and access to all markets

  • Premium account – this is the standard account that lets you trade standard lots with a minimum deposit of only $100
  • Zero Spread account – if you would like to trade without spreads, this is the account for you and it gives you direct interbank rates. A commission is charged for the service, but even that is reasonable
  • Fixed spread account – for those who would like to receive consistent spreads regardless of market conditions
  • Premium (PAMM) account – this account requires a higher deposit of $250, but with it, you get private consultations with analysts at HotForex as well as other market updates
  • Automatic  – when you’re not ready to initiate the trades, these accounts are there. The account involves the use of trading advisors.
  • Islamic account – this one does not incur any swaps or overnight rollover fees and is applicable to Micro, Premium, Zero Spread Account and Auto accounts.

hotforex account types

HotForex Forex broker review – Conclusion

We still use HotForex to this day and have not had any problems with the broker. Their services are truly exceptional and the company has a great reputation, and we would recommend this broker to anyone looking for a partner they can trust.

Leave a Reply

Your email address will not be published. Required fields are marked *