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Hot Forex

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  • 12 Trading Platforms
  • :6 Account Types
  • :150+ Trading Platforms
  • :15+ Funding Methods
* Risk Disclosure: Products offered by this website involve a significant risk to your invested capital.
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  • Start trading with $1
  • Earn up to 95% profits
  • Fast payments
  • $10 minimum deposit
  • $10 minimum withdrawal

Are you about to begin trading forex? One of the most important decisions you need to make is choosing a forex trading broker. The broker that you choose should be safe and reliable, as well as one that addresses other factors that you consider important.

To aid you in your search for a broker, you need thorough reviews of specific brokers that you have considered to make sound and evidence-based decisions. I am here today to do exactly that! I will provide you with an honest and thorough review, which will help you decide whether to choose the broker or not.

You might have considered HotForex as a potential broker you could join. Well, join me as we dive deep into details about the HotForex broker to gauge its suitability for you. Make sure to read the whole article, paying attention to every detail.

Location, market experience, and coverage.

HotForex is a Forex broker with headquarters at 50 Spirou Kyprianou, at the Irida 3 Tower on the 10th Floor, 6057 Larnaca, Cyprus. Apart from that, a new office is located in Johannesburg, South Africa.

HotForex was founded, established, and launched in 2010—about 10 years of market experience. The broker is available in 180+ countries around the world, covering regions like Africa, Asia, Europe, and Latin America widely. However, HotForex is not available in the USA, the Syrian Arab Republic, North Korea, Canada, or Sudan.

Account types and trading instruments.

HotForex offers six core trading account types: Micro, Premium, Zero Spread, Auto, PAMM (Premium), and HFcopy. Every account type except Zero Spread offers commission-free trading for Forex pairs with spreads from 1 pip. Zero Spread account is commission-based but with spreads from 0 pips in forex. The HFcopy is an account for copy trading with three core account types: Premium, Zero Spread, and Premium Pro.

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1 Quotex logo without background
  • Start trading with $1
  • Earn up to 95% profits
  • Fast payments
  • $10 minimum deposit
  • $10 minimum withdrawal

At HotForex, pricing varies greatly by account type. You may find that in the Zero Spread account, trading costs are lower than in the premium account. However, the margin requirements of the Zero Spread account may be twice as high as those of the Premium account. At best, HotForex’s pricing is slightly better than the industry standard.

Different accounts are available under different regulatory entities. Some accounts are only available under specific regulations and not under others.

The 6 account types are not all that HotForex offers. Users can also access Demo trading accounts and Islamic swap-free accounts. Demo accounts can be utilized by newbies to practice forex trading under real market conditions without risking real money.

HotForex gives users access to over 150 trading instruments. These are spread across over 49 forex pairs, over 104 CFDs, over 8 commodities, over 11 indices, over 56 shares, over 3 bonds, and 4 cryptocurrency CFDs. Note that HotForex offers spot trading and social Copy-trading and that cryptocurrency is not traded as actual but as a CFD.

Visit Website.
Features
Bonus Codes
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1 Quotex logo without background
  • Start trading with $1
  • Earn up to 95% profits
  • Fast payments
  • $10 minimum deposit
  • $10 minimum withdrawal

Safety and reliability.

To begin with, HotForex is not publicly traded and does not operate a bank. However, it is regulated in one tier-1 jurisdiction, three tier-2 jurisdictions, and two tier-3 jurisdictions. This makes HotForex a safe and reliable broker for forex and CFD trading.

The HotForex broker holds licenses from various regulators, including:

  • Financial Conduct Authority (FCA) in the UK.
  • Cyprus Securities and Exchange Commission (CySEC) in Europe.
  • Financial Sector Conduct Authority (FSCA) in South Africa.
  • Dubai Financial Services Authority (DFSA) in Dubai.
  • Seychelles Financial Services Authority (SFSA) in Seychelles.

HotForex also offers some users the ability to open trading accounts with HF Markets (SV), depending on their location. HF Markets is a registered international business in Saint Vincent and the Grenadines and, as such, is not regulated. That means that despite HotForex having multiple regulators, there is one part of it, HF Markets, which is not regulated.

The reason why HF Markets is termed a part of HotForex is this:. HotForex and HF Markets are unified brand names of the HF Markets Group. That means that HotForex and HF Markets are one thing.

Trading Platforms and Tools.

HotForex is a MetaTrader broker that offers the entire MetaTrader Suite, including both MetaTrader 4 and MetaTrader 5, on web, desktop, and mobile smartphones. The desktop version supports automated trading systems called Experts through MQL5 signals. Mobile trading comes for both Android and IOS

Even though MetaTrader 4 and MetaTrader 5 come with their tools, HotForex provides its users with an optimal suite of trader tools. These are called Premium Trader Tools and are developed by FX Blue Labs.

Premium Trader tools is a 12-tool package including but not limited to;

  • Trade Terminal for advanced order execution.
  • Connect for News.
  • Alarm Manager for Alerts.
  • Additional technical indicators like Renko bars and pivot points
  • Order History.

Desktop MetaTrader 4 and 5 – This is available for both Windows and Mac. It comes with several benefits, including enabling you to;

  • View 21 different timeframes.
  • View up to 100 charts simultaneously.
  • Access 80+ technical indicators.
  • Perform one-click trading functions.

Web MetaTrader 4 and 5 – This is a globally recognized platform with benefits that include enabling you to;

  • Trade from any browser and operating system.
  • View 9 different timeframes.
  • Access 38 technical indicators.
  • Perform one-click trading actions.

Mobile MetaTrader 4 and 5 – This mobile platform comes with several benefits. They include enabling you to;

  • Have Real-time, interactive charts.
  • View 9 different timeframes.
  • Access 30 technical indicators.
  • Perform one-click trading actions.
  • Have access to multiple order types, such as market, stop, and limit orders.

In addition to the above trading platforms, HotForex also offers the HF App. This is its proprietary mobile platform with various research and trading tools and calculators. However, this app does not permit direct trading! It has several benefits, including enabling users to:

  • Have advanced chart functionality.
  • Deposit, withdraw, and transfer funds.
  • Create your watchlists.
  • View live news and quotes.

Research and Education.

HotForex provides research resources that include market analysis and trading tools. These resources derive content from HotForex staff and third-party providers too. Forex News, Daily Market Commentary, Weekly Webinars, AutoChartist, Social Sentiment, and Economic Calendar are some of the useful resources provided by HotForex. Generally, HotForex research is on par with the industry standard.

Beginner traders can consult the e-course and glossary sections for a basic understanding of the forex market and the basics of trading. The video tutorials cover various topics. These include the practical application and use of MetaTrader trading platforms, which rely on the use of different indicators, techniques, and strategies. Daily live webinars on various topics, like indicators and trading psychology, can also be utilized for education.

Commissions and Spread.

Trading costs with HotForex vary depending on various factors. These include the asset, account type, and regulator used.

As we mentioned, every account except the Zero Spread account comes with commission-free trading on Forex pairs. Spreads on these accounts start at 1 pip. The Zero Spread account charges commissions per trade but offers spreads starting at 0 pips.

Visit Website.
Features
Bonus Codes
Rating
REGISTER
1 Quotex logo without background
  • Start trading with $1
  • Earn up to 95% profits
  • Fast payments
  • $10 minimum deposit
  • $10 minimum withdrawal

Deposits and withdrawals.

HotForex offers a wide variety of Deposit and Withdrawal methods, which include:

  • VISA/Mastercard.
  • Crypto payment.
  • Mpesa
  • E-wallets

Processing times and fees vary but can always be accessed on the HotForex Website. Deposits can take between 10 minutes and 2 business days, depending on the method of payment used, and are mostly free. Withdrawals are processed 24 hours after the submission of withdrawal requests on business days and are mostly free.

Customer Support.

The HotForex Support Team is available 24/5 during market opening hours and offers a variety of languages on the phone. Apart from telephone, you can also contact them via live chat, email, or an online contact form.

Additional features.

The minimum deposit to open an account with HotForex is $5. This makes it manageable for beginners who wish to start small. The minimum trade size is 0.01 units, while the maximum leverage is 1:1,000. Good leverage over there.

Conclusion.

HotForex offers a lot of what you would be looking for in a forex trading broker. Affordability with a low minimum deposit, awesome maximum leverage, wide coverage, and a wide variety of trading platforms are enough to make you want to invest with them. Add HotForex’s safety and reliability and the versatile system of account types and you will find yourself choosing HotForex as your broker.

Visit Website.
Features
Bonus Codes
Rating
REGISTER
1 Quotex logo without background
  • Start trading with $1
  • Earn up to 95% profits
  • Fast payments
  • $10 minimum deposit
  • $10 minimum withdrawal

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