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HotForex Review

HotForex was established in 2010 and it is a CDF global and forex online broker. HotForex has used the past years in creating its reputation of being among the top forex brokers in the world. Being ‘’Customer centric’’ has always given them success. As every broker will promise its clients of quality service, this is not usually accomplished by all of them, HotForex has always accomplished every promise they make. They have always used their products and services to offer their clients with relevant needs which have enabled them to earn a reliable and trustworthy name for itself.

HotForex Regulations

They have a unified brand name as HotForex and it is from the HF Market, a Group regulated as follows:
Incorporated in St. Vincent &amp HF markets (SV) Ltd; they had an international registration number (22747 IBC 2015) as an international broker company.
As a (CIF) Cypriot Investment Firm, HF Markets (Europe) Ltd with the number HE 227582. Had its regulation from the (CySEC) Cyprus Securities and Exchange Commission with a license number 183/12.
HF Markets Ltd had its regulation in the Republic of Mauritius by the (FSC) Financial Services Commission, Global Business No. C110008214 of category 1 Company license Reg. No. 094286/GBL.
With an authority from the South Africa’s financial service board of being a Financial Service provider, HF Markets SA (PTY) Ltd has a registration number 46632.

HotForex Reliability

When talking about the reliability of HotForex, they have a solid protection for their client’s deposits with a Market leading insurance proram under the requirements given by its regulators. The company uses an insurance program of Civil Liability with an effort of safeguarding its liability against third parties and clients with a €5,000,000 limit including coverage for market leading errors, negligence, fraud, omissions and several risks that could lead to a financial loss. Our clients have no additional cost for this cover.
HotForex’s has a policy of protecting negative balance, this simply means no client will pay a negative balance despite under high volatile conditions when stopouts and margin calls do not normally function. They provide a fund security of an industry-leading standard, this is accomplished by using major global banks and isolating funds to ensure that funds of clients will not be affected in case HotForex has a problem.

HotForex Trading Platforms

The (MT4) MetaTrader 4 trading platform is used by HotForex and it is supplied by MetaQuotes Software. The MT4 trading platform has been cansidered by many to be the standard trading platform for the industry for being highly adopted by brokers around the world. CDFs and Forex traders also use the MT4 trading platform as several and feature tools are offered to be selected as to enhance the trading abilities of the traders. The MT4, for example, is eligible for multiple types of market orders and the use of Expert Advisor to achieve an automated trading. It also comes with a big library of technical indicators and as well combined with a comprehensive charting package. The MT4 trading platform is currently accessible in various versions such as:
MT4 Multi Terminal
MT4 Desktop
MT4 WebTrader
MT4 iPhone Trader
MT4 Smartphone Trader
MT4 iPad Trader
MT4 Android Trader
HotForex has also provided the HotForex RapidTrader API for their traders apart from the MT4 platform. Traders are offered direct market success by this platform as it is powered by integral and also provide automated trading abilities away from the MT4 environment.

Mobile Trading

HotForex also provides mobile treding in addition to the desktop trading and it is supported by the MT4 platform by a wide range of mobile devices. Android, iOS, and devices powered by Windows have the ability to download and install the app in to their devices. For those with iOS and Android, the mobile trading app can be downloaded from the Apple’s App store and Google Play Store respectively. As for devices powered by Windows, they can download the installer directly from the HotForex website.

HotForex Trade Types/Instruments

As for the HotForex available trade types, traders can trade future markets, spot markets and Contract for Difference (CFD). The HotForex covered asset types include precious metals, currency pairs, indices, crude oil, crypto currencies, equities and commodity CFD’s.
HotForex Account Types
To cater for all the trading needs of its clients, the company has created numerous trading account types for clients to choose from. These accounts include:
Min Deposit $5*
Micro Trading Account
Leverage Available: 1:1000*
Variable Spread
Max Simultaneous position: 150
Premium Trading Account
Min Deposit $500
Leverage Available: 1:400
Variable Spread
Max Simultaneous position: 300
Zero Trading Account
Min Deposit $100
Leverage Available: 1:200
Variable Spread
Max Simultaneous position: 500
Fixed Trading Account
Min Deposit $500
Leverage Available: 1:400
Fixed Spread
Max Simultaneous position: 300

Potential clients are also provided with a demo account to try out the trading system of HotForex before deciding to open a live trading account or not. For traders with the passion of trading with an Islamic principle, an Islamic or a swap free account can be provided by a request.

HotForex Commissions & Spreads

Having a relationship well-established with the market’s top liquidity providers, the company has the ability to offer extremely competitive spreads on trades done with its platforms. Some typical spreads that can be expected on assets that are frequently traded such as market indices, currency pairs, precious metal and crude oil are shown in the table below:
Spreads (in pips)
UK100 1
USA500 0.5
A 10% commission is charged for Stock CFDs.
The deposit and withdrawal options of HotForex
HotForex has an understanding which states that every internet transaction must be done with an effective and secured manner. For this, a variety of payment solutions have been provided by the broker for its traders. Supported payment methods include bank wire transfer, debit/credit cards like Maestro, Visa, Mastercards, and eWallets such as Skrill, Neteller, fasapay, UnionPay, WebMoney, and Bitpay.
HotForex has created it own prepaid MasterCard for better conveniences. Traders with this MasterCard now have a greater method of accessing their trading funds.

Bonus & Promotions

The most beneficial influence enjoyed by traders of HotForex is the bonuses and promotion programs provided in their numbers it is (not available for HF Markets (Europe) Ltd clients). There are three types of bonuses, the 30% Rescue bonus, the 100% Supper Charged bonus as well as the 100% Credit Bonus. A $50,000 maximum cumulative bonus for the Supper Charged Bonus is given, and the maximum cumulative for the Rescue bonus is $7,000.

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