CFD BROKER REVIEW: HOTFOREX

 

HOTFOREX REVIEW AT A GLANCE

• Type: CFDS / ECN FOREX / STP FOREX

• USA: NO
• SWAP-Free Trading: YES
• Regulated: FCA UK (600473), CySEC (183/12) and MiFID (EU)
• Segregated Client Bank Accounts: Barclays UK and BNP Paribas
• Trading  Platforms: MT-4, MT4 Multi-Terminal, WebTrader, FIX/API Platform, Mobile Traders
• Scalping: YES
• Markets: Forex, World Shares, Indices, Precious Metals, Energy
• Minimum Deposit: $10
• Deposit Methods: Credit Cards, Debit Cards, Bank Wire, Skrill, Neteller, WebMoney, SOFORT, Western Union
• Bonus Promotions: 100% Welcome Bonus
• Customer-Support Languages: Arabic, Chinese, English, German, Greek, Hindi, Japanese, Korean, Persian, Russian, Spanish

 

» Open an Account at HotForex

RATING FROM FXPROS.NET

This is the HotForex Rating based on the Rating Formula of FxPros:

HOTFOREX RATING
(I) Funds Safety	64 %
(II) Trading Cost	66 %
(III) Trading-Options	97 %
(IV) Technology	88 %
Average HotForex Rating	78 %

 

HOTFOREX CFD / FOREX BROKER REVIEW

HotForex Company Review

HotForex is a Forex / CFD provider found in 2007, here are some important facts about the company:

(1) HotForex is owned by HF Markets Europe Ltd. which is a Top-100 World Finance Company (World Finance Magazine)

(2) HotForex is situated in Cuprus

(3) HotForex is regulated by FCA UK (600473), CySEC (183/12) and MiFID (EU)

(4) HotForex is registered with CONSOB (Italy), CNMV (Spain), ACP (France) and AFM (Netherlands)

(5) HotForex offers Account Segregation via Barclays UK and BNP Paribas

(6) HotForex is member of the Investor Compensation Fund

 

HOTFOREX PLATFORMS

HotForex offers a great variety of trading platforms:

(1) MetaTrader4 and MT4 Multi-Terminal for PAMM

(2) WebTrader

(3) FIX/API platform for algorithmic trading.

(4) Mobile Traders: iPhone, Android, iPad and Blackberry

□ Automated Trading / Scalping: YES

HOTFOREX FREE VPS

HotForex provides a free VPS hosting service to all clients that maintain a balance of more than $5,000:

(1) 24 hour trading

(2)  Compatible with all Expert Advisors

(3) Trade any market (Forex, Gold, Metals, Oil, Indices, Stocks)

(4) Dedicated servers

(5) 20GB Disk Space, 0.5GB RAM, 2.2 GHZ CPU and unlimited bandwidth

 

HotForex Asset Index

Many available financial instruments from all over the world:

■ Forex (more than 40 Currency Pairs)

■ Indices: AUS200, FRA40, GER30, HKG33, ITA40, SPA35, SUI30, UK100, USA100, USA30, USA500

■ Precious Metals and Energy: XAGEUR, XAGUSD, XAUEUR, XAUUSD, UKOIL, USOIL

■ Commodities and other Metals: wheat, sugar, coffee and corn, palladium, platinum and copper

■ Shares from all around the world

Equity CFDs Trading with HotForex

HOTFOREX ACCOUNTS

HotForex offers many different account types, here is some key information:

■ Minimum Deposit: 10 USD / EUR

■ Deposit Methods: Credit Cards, Debit Cards, Bank Wire, Skrill, Neteller, WebMoney, SOFORT, Western Union, TrustPay, iDeal,

■ Deposit / Withdrawal Commissions: No, Free of charges

HotForex Automated Fund Transfers

HotForex provides the e-Wallet to all clients. That means that traders can instantly transfer their capital from their trading account to their MyWallet balance. This is an auto-transfer service that provides withdrawal of funds instantly.

• 24/7 access to your trading funds

• automated transactions

 

The Currenex Account Type

The Currenex Account is perfect for advanced retail traders. Currenex spread is tight and favors Forex scalping strategies.The minimum trade size is 0.01 lot and the available platform includes MetaTrader.

Platforms:	MetaTrader 4, Webtrader and Mobile Trading
Trading Spreads:	starting at 0.4 pip
Instruments:	Forex, Commodities, Indices, Shares
5th Decimal:	Yes
Max Capital leverage:	1:400
Minimum deposit	USD $500
Minimum trade size:	0.01 lot
Maximum Total Trade Size:	60 Standard lots
Margin Call / Stop out level:	50% / 20% (*)
Telephone Trading:	Yes
Account Currencies:	USD, EUR
Personal Account Manager	Yes
Trading Commission:	$10 per round turn
Welcome Bonus:	YES

» Open a CurreneX Account with HotForex

 

HOTFOREX BONUS PROMOTIONS

HotForex offers good trading promotions for new clients:

■ 100% SuperCharge Bonus

■ 100% Welcome Credit Bonus

» HotForex Promotions

HOTFOREX REVIEW -ADVANTAGES & DISADVANTAGES

HOTFOREX ADVANTAGES √	HOTFOREX DISADVANTAGES X
■ High Safety of Money ■ Wide Asset Index ■ Many different Trading Platforms, including PAMM and a FIX/API platform for algorithmic traders ■ Free VPS hosting service ■ Multilingual Support via Phone, Chat, Email. Also a Personal Account Manager is available ■ 100% Bonus Promotions	■ The Fixed Spreads are not tight. It is better to trade with the CurreneX Account

HOTFOREX REVIEW CONCLUSIONS

Trading the world market with Hotforex offers many advantages for CFD traders. The broker is regulated, the trading spreads are tight and there is a great variety of trading options covering many different aspects of trading. Let’s see some details.

As concerns safety of money, HotForex is owned by HF Markets Europe which is a Top-100 World Finance Company. Furthermore HotForex is regulated and registered with many government bodies including FCA UK, CySEC and BaFIN. Account segregation is available via two major European Banks (Barclays UK and BNP Paribas). In overall HotForex can guarantee in a high extend the safety of your funds.

As concerns the asset index, HotForex offers hundreds of assets from various asset classes. There are tens of Forex Currencies, many Indices, tens of world shares and many commodity assets. What is interesting here is that you may trade any asset within MetaTrader-4 and you may trade any asset using the VPS service for automated trading.

As concerns trading platforms, there is also a great variety of platforms, starting from the classic MT4 and the classic WebTrader to the FIX/API platform for algorithmic trading and the MT4 multi-terminal for PAMM accounts. Mobile trading covers 3 mobile operating systems: iOs, Android and Blackberry. Automated trading, hedging and scalping are allowed by HotForex. Furthermore HotForex provides something very interesting, a free VPS Hosting for customers maintaining a balance over $5,000. This service is usually offered for $350/ month.

Customer service is also one of the great advantages when trading with HotForex. There are many available languages including English, Arabic, Chinese, German, Spanish, Japanese, Greek, Italian, French, Persian, Malay, Bengali, Bulgarian, Russian, Indonesian, Polish, Portuguese and Thai. You may contact the broker via Phone, Live Chat, eMail and Call-Back.

As concerns new accounts, you can open an account with as low as $10. Many fund methods are available (check above). HotForex also does not charge commissions neither on depositing money nor on withdrawals. There is also a 100% Welcome Bonus promotion. You can even withdraw the bonus if you trade it a lot of times.

In overall the broker is a very good choice for all types of traders, including professional traders. We advice traders to choose opening a Currenex account. This account type offers the best trading terms without imposing high deposit requirements.

 

» Open an Account at HotForex

 

READ MORE

COMPARE	► CFD / Forex Brokers
CFD / FOREX REVIEWS	► XeMarkets Review	►Dukascopy Europe	► FXCC Broker Review
CFD TRADING	► Forex CFD	► Gold CFD	► Index CFD	► Shares CFD

 

■ HotForex Review

CFDagent.com