HotForex Review: PROs & CONs

In this HotForex Review, we will take a look at the broker’s regulations, their trading assets, fees, and the HotForex MT4 platform. We will also dive deeply into the different account types at HotForex broker and will try to make it clear who they are they suitable for.

HotForex and HF Markets are unified brand names of the HF Markets Group, which provides reliable, award-winning services to clients all over the world.

HotForex is a multinational company that has been in the field since 2010. Moreover, the company currently has over 2.5 million live trading accounts, and over 200 employees spread worldwide.

The company also offers its live trading services in 27 languages and has successfully taken advantage of the explosive growth in online Forex trading. This explosive growth has helped the company to increase its market share on an international scale.

HotForex is regulated in six different countries, and it claims that it gives priority to transparency and security above all else.

HotForex Review – Regulations & Trading Assets

According to the company, traders can choose from +1000 different assets, and all the internal processes are implemented with the help of modern technological advancements.

According to the company, the topmost asset is their traders, and they are extremely important to the operation. This is why the company focuses on offering an excellent trading environment for its traders.

The spread starts at 0.1 pips without commission and 0.0 pips with a commission. This offers a versatile trading environment to the traders, and the company employs a transparent rollover policy offering positive swap rates that are easily credited to traders’ accounts. All the client funds are kept safe and secure with the help of major banks worldwide.

The customers have free access to a wide variety of trading tools that help them make well-informed decisions for their investments. These tools include free VPS hosting for automated trading solutions, multiple account types for multiple trading options, and expert advice for trading.

HotForex also offers amazing brokerage services, and the traders can participate in weekly webinars and QA sessions with the experts of the industry. This helps them lay a solid foundation for their trading accounts. Moreover, the clients can also get negative balance protection and tailored solutions to earn additional income with live trading.

HotForex Fees

This HotForex review aims to explore the company’s different aspects to offer a better understanding of its internal structure and processes. Firstly, HotForex has no hidden charges. The company only generates its fees and revenue from the different types of spreads and commissions offered to the traders.

If you are familiar with live trading, you must understand that spread means the difference in bid and ask prices.

HotForex currently offers a spread as low as 0.1 without commission and 0.0 with the commission. The 0.1 spread is only usable for premium accounts, and there is no commission or fees associated with this type of spread.

However, if the traders choose to go with a 0.0 spread, they will have to pay a little commission on their investment. The company also charges fees on indices at a rate of USD 1 per lot or on CFD stocks at 0.10% of the total trading value.

One amazing thing about Hot Forex is that it reimburses its traders for any deposit fees they have had to face with their payment provider or bank transfer. This shows that the company cares for its traders and does not believe in any hidden charges.

HotForex MT4 and MT5 Platforms

If you are interested in learning more about the different swap rates or rollover rates, you can head over to the HotForex MT4 & MT5 trading platforms to get a better understanding of these rates. The HotForex MT4 & MT5 will offer you a detailed breakdown of the different swap rates or rollover rates for different types of live trading accounts.

The first thing you will have to do is right-click on the desired symbol in the HotForex MT4 & MT5 platforms and go over to the “market watch” window to select “symbols”. Once you have selected this “symbols” window on the HotForex MT4 & MT5 platforms, you can then select your desired currency and check the “properties” on the right-hand side of the screen.

You will have to scroll down on this properties screen until you see the “swap long” or “swap short” option. This will tell you the different swap rates associated with your account and other premium accounts for trading.

HotForex Review – Trading Options

As already mentioned in this HotForex review, its platform allows the traders to invest in over 1000 different trading options and assets. This allows traders to enjoy different options to minimize the risk as much as possible.

The most popular choices at Hot Forex include CFDs on:

  • Cryptocurrencies
  • Energies
  • Commodities
  • Rare Metals
  • Company Shares
  • Indices
  • ETFs and DMA Stocks
  • Bonds

What Are the Different Account Types at HotForex?

This HotForex broker review aims to explore all the different aspects of HotForex that may be useful to interested traders. One of the most important elements of understanding this Hot Forex broker review is understanding the different kinds of accounts available to the users.

While conducting this HotForex broker review, our team understood the different types of user accounts available for the traders. There are six different account types available to live traders and interested traders at HotForex. However, there are some regions where the company offers fewer account types.

The different account types come with different minimum deposit rates, spread options, and commission fees. Let’s explore the different account types in our Hot Forex broker review.

What Is the Premium Account? Who Uses This Account?

The first type of account you should know about is the Premium account. It is one of the most highly used accounts at HotForex.

During our Hot Forex broker review, we found out that this account is most commonly preferred by new traders or professional traders who have been in the field for over a few months.

Additionally, we also found out that this type of account is most popular among traders with account balances below 5000 British pounds or US dollars. This account is famous for offering an amazing trading experience and a low minimum deposit of $100.

This most positive selling point of this account is the low deposit rate as it helps different traders lay down a strong foundation before moving on to other options.

What Is the Zero Spread Account? What Are the Benefits?

In our HotForex review, we also reviewed the zero spread account for traders. The traders get to enjoy as low as 0.0 pips but have to pay commission. Moreover, the minimum deposit also starts at USD 200.

Here are the different elements you should know before choosing this account for yourself:

  • Raw Spreads with 0 Markup
  • Low Costs for International Markets
  • Low Commissions
  • Super tight Spreads
  • Minimum Deposit of USD 200

What Is the HFcopy Account?

Next up in our HotForex review is the HFcopy account. This account allows professional traders to help out amateur traders by offering tailored strategies for investments.

The professional traders can earn their income on the fees charged to their followers. The followers have to pay for the strategy, but they are guaranteed higher chances of success.

The maximum fee is 35%, and the minimum deposit for a strategy provider is USD 1000. The minimum deposit for followers is USD 300. The minimum spreads begin from one pip. The maximum total trade size is 60 standard lots per position, and the minimum trade size is 0.01 lot.

The traders can also enjoy a trade size increment of 0.01 with a stop out level at 80%. This kind of account also offers you the option of telephone trading and a personal account manager. This personal account manager will help you take care of your different investment options. The maximum number of followers you can have is 400.

What Is the Islamic Account Type? What Makes It Different?

This account is the same as a Premium account or Zero spread account. However, one of the major differences of this account is that it follows Islamic law and is not a swap account. The users get to enjoy a swap-free trading experience.

What Is the Micro Account for HotForex?

This account is also perfect for new users and potential traders who have a low balance and want to enjoy a minimum deposit of USD 5. However, in our HotForex broker review, it is rarely used as the Premium account is also an excellent option for traders but with a minimum deposit of USD 100. The majority of new traders go for the Premium account as it offers more benefits.

HotForex Free Tools for Traders

As already mentioned, HotForex account users get access to a wide variety of free trading tools that help them make the right decision and earn a secondary income source. During our HotForex broker review, we found out that these tools are designed to enhance their trading experience and help them find the best trading opportunities depending upon their financial status and current balance.

Moreover, these tools also help understand the market in a better way and allow the different traders to enjoy the maximum potential of HotForex. If you head over to the “tools” section of the HotForex website, you will see hundreds of different in-house tools or third-party tools available for traders at no additional cost.

All of these tools have service-specific purposes for different users and help the traders make the best possible decisions. Let’s take a look at some of the best tools we found during our HotForex review.

How Does the Premium Trader Tools Pack Help Traders?

During our HotForex review, we found out that the most commonly used tools are the premium trader tools. This package is filled with the different tools that help you enhance your trading experience and allow you to take a quick look at the Forex market to see how you can enjoy the different trading options according to your budget.

This is an in-house package from HotForex that offers a wide variety of trading tools at your fingertips. You can use these tools to get a basic overview of the ongoing trends in the HotForex market, and you can also see what options are going at the top to invest your money in the right place at the right time.

What Is the Benefit of Using the Autochartist Tool at HotForex?

This is not an in-house tool but a third-party scanner tool that helps you identify the different patterns and trends available in the market right now to help you make the right decisions for your investment and trading opportunities. It can analyze the market by itself and offer you the topmost patterns currently in trend and can help you bring in the most revenue with your budget.

HotForex Autocharist tool
HotForex Autocharist tool

If you are using the HotForex MT4 platform or MT5 platform, you will get this for free, and you will be able to use this to analyses and understand the market more efficiently. It is an automated pattern identification tool that can help traders with different account types to understand the ongoing patterns before investing their money.

Here are the topmost benefits of using this tool for yourself:

  • Identification of Three Types of Patterns: Chart Patterns, Fibonacci Patterns, And Key Level Patterns
  • Available 24 Hours A Day
  • Easily Understand and View Different Opportunities in The Market
  • Time Efficiency with Automated Scanning Abilities for Traceable Patterns
  • Multi-Language Email Market Reports and Alerts
  • Customizable Filter And Refinement Options for Custom Watch List
  • Volatility Analysis
  • Useful Insight into Instrument Movements
  • The First Market Scanner for Hotforex MT4 Platform
  • Easy to Use

What Is VPS Hosting and How Does It Help the Traders?

This is a must-have tool for all beginners and professional traders looking to make the best of their HotForex account. If you are also interested in deploying this tool and taking care of your trading operations throughout the day, VPS hosting is the perfect option for you.

HotForex VPS

The specialized servers help you take care of your trading operations and requirements around the clock, and you will get to enjoy the best out of your HotForex account with 24/7 operations. There are three different types of server options for users.

In this HotForex review you will find the topmost benefits of using VPS hosting for yourself:

  • 24-Hour Trading
  • Reduced Latency
  • Minimize Downtime
  • Compatible with All EAs
  • Password Protected Connections
  • Global Access
  • Easy Installation
  • Easy to Use Interface
  • Smooth Running

What is HFcopy and How to Make the Best of This Tool?

If you think you have gained enough experience to become a strategy provider for new investors and traders, the HFcopy tool is here for you. This tool allows you to use your trading experience to develop tailored strategies for new investors and traders. It allows you to charge a fee for your services.

Moreover, this tool is also perfect if you are a new trader, and you want somebody to help you with coming up with the most powerful strategy depending on your budget and requirements. This tool automates the entire process and connects successful traders with beginners.

It allows different people to connect minds and share their knowledge of the market to get the best out of their hotforex experience. New traders will be able to enjoy innovative trading solutions from experienced traders, and they will also be able to get refined results with shared knowledge.

This also allows successful traders to generate a secondary revenue source other than their own trading experience and opportunities. They can create different strategies for new users and generate more capital for their personal investment options. This is an automated trading tool with mutual returns for both leaders and followers..

HotForex mobile application – HF APP

HF app allows traders to have constant control over their account and stay up-to-date with everything forex, on the go. Feature-packed and with an easy navigation HF app is the essential Forex app for traders who want to keep up to date on the markets, plan their trades and keep an eye on performance from anywhere. Some of the features of HF App are:

  • Direct access to a personal account
  • Deposits, withdrawals, and transfers on the move
  • Daily market analysis and live quotes
  • Economic Calendar
  • Trading Calculator

Can traders take advantage of HotForex bonuses?

HotForex offers three types of bonuses:

  • 100% Supercharged Bonus: it is automatically calculated and credited and can be either traded or withdrawn.
  • 100% Credit Bonus: it increases the account leverage and can be withdrawn if traders meet volume requirements
  • 30% Rescue Bonus: it is intended to protect accounts from drawdown periods.

HotForex Review – Deposits and Withdrawals

HotForex currently allows different options for deposits and withdrawal, such as:

  • Bank Transfers
  • Wire Transfer
  • Credit Cards
  • Debit Cards
  • Skrill
  • Neteller
  • Bitcoin

There are no maximum deposit limitations for wire transfers or bank transfers. However, there is a limit per transaction of USD 10,000 when you use credit or debit cards and other online payment methods.

Most deposit options are also withdrawal options and both AML regulations apply. The minimum withdrawal amount is USD 100 for wire transfers and USD 5 for most of the other options available. Withdrawals for most online payment methods are processed instantly whereas for cards and wire transfers it may take 2 to 5 business days to see the amount in your account.

One of the best features of using HotForex for your trading experience is that it does not apply any deposit fees You do not have to worry about paying any additional charges or transaction fees on your trading amounts this way.

What Are the Frequently Asked Questions for HotForex (FAQs)?

Where Is HotForex from?

Hotforex is an international brokerage firm, and it is registered in multiple countries. It currently operates from the EU, the UK, the UAE, South Africa, and other countries.

How Does Hot Forex Generate Its Revenue?

HotForex makes money from the commission and spreads across different account types. However, if the users try to go for VPS hosting services, HotForex can also charge money if the users do not meet the minimum deposit requirements, but they still want to use this option.

Is HotForex Regulated?

Yes HotForex is regulated by different authorities all over the world, such as:

  • The Cyprus Securities and Exchange Commission (CySEC)
  • The Financial Conduct Authority (FCA)
  • The Dubai Financial Services Authority (DFSA)
  • The Financial Sector Conduct Authority (FSCA) in South Africa
  • The Seychelles Financial Services Authority (FSA)
  • The Financial Services Commission of the Republic of Mauritius (FSC)

Final Words

During this HotForex review, we found out that HotForex caters to the needs of different traders from all over the world, and it is truly amazing for beginners and professionals alike. The ease of investing money, depositing funds, using tools, and understanding the market patterns helps HotForex stand taller than other trading platforms in the market.

HotForex is truly a remarkable international brokerage firm that is not only registered and regulated in different countries, but it is also among the best trading platforms when it comes to low deposit amounts, best swap rates, and an easy-to-understand pricing structure.

This platform is intended for use by different types of traders, from beginners to professionals. Moreover, this platform is also perfect for high-frequency traders and scalpers who want to make the best trading experience with automated tools and an easy-to-use interface.

Additionally, HotForex also reimburses its clients for any transaction fees charged by the bank for fund deposits, etc. The availability of hundreds of different automated tools also makes it among the best trading platforms for new users who want to feel the market before getting started with big investments.

Furthermore, the HFcopy strategy account allows new users to get in touch with professional traders to get the best investment strategies. This is a big win-win situation for both professional traders and beginner traders. Professional traders can also generate a secondary revenue source by getting a portion of the fees charged for beginners. HotForex is definitely worth the try if you are interested in the trading business.

Disclaimer: Products and Services differ based on the entity of HF Markets Group

One thought on “HotForex Review: PROs & CONs

  • Hot Forex is a well-known brand and I was planning to test a small live account but after I saw this Hot Forex review from the team and I definitely go for it.

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