HotForex Review

ECN Forex Review: HotForex

Hotforex Trading

HOTFOREX REVIEW

HotForex General Info

Company: HotForex is the Trading Name of HF Markets Europe Ltd

Offices: Headquarters in Cyprus and other offices in many other countries around the Globe

Regulation: HotForex is regulated by FCA UKCySEC and MiFID but it is also registered with CONSOB, ACP France, AFM Netherlands and CNMV Spain

Years in the Market: HotForex was found in 2007

US Clients: HotForex forbids US Clients (NO)

Islamic Accounts: HotForex offers Islamic Swap-Free Accounts (YES)

Order Execution: ECN / STP Execution

Customer Support:

HotForex 24/5 ServiceHotForex PHONE SUPPORTHotForex LIVE CHAT

» Visit HotForex

HotForex Trading Info

Server Time: GMT+1

HotForex Typical Spread (EURUSD): 0.6-1.4 pips Fixed Spread

Trading Leverage: HotForex offers max leverage 1,000:1

HotForex lot: 0.01 to 0.5

HotForex Scalping / Hedging: Hedging / Scalping are allowed by HotForex -Yes

Automated Forex Trading: HotForex allows Automated Trading and Forex Robots -Yes

Minimum Deposit Account: Minimum deposit is 1 USD

HotForex Account Currencies: Accounts in HotForex may be held in Euro and US Dollar

HotForex PlatformHotForex Deposit Methods:

HotForex Bank WireHotForex Credit CardsHotForex Offer DEBIT CARDSHotForex Offer MoneyBookersHotForex Offer Web MoneyNetteller

HotForex Withdrawal Methods:

HotForex Bank WireHotForex Credit CardsHotForex Offer DEBIT CARDSHotForex Offer MoneyBookersHotForex Offer Web MoneyNetteller


HotForex Asset Index

HotForex provides an extended Asset Index containing many currency pairs. There are 43 Forex Pairs plus 5 popular commodities, 36 World Stocks and 12 popular Indices.

In the following table you may find a full list of HotForex currency pairs. The spreads presented are typical and concern regular accounts. VIP accounts provide tighter spreads.

CURRENCY PAIR SPREAD CURRENCY PAIR SPREAD CURRENCY PAIR SPREAD CURRENCY PAIR SPREAD
AUDCAD 2.3 EURGBP 1.7 GBPNZD 7 USDHUF 20
AUDCHF 2.4 EURHUF 24 GBPUSD 2.5 USDJPY 1.7
AUDJPY 2.2 EURJPY 1.9 NZDJPY 3 USDNOK 30
AUDNZD 3.2 EURNZD 5,0 NZDUSD 2.4 USDPLN 40
AUDUSD 1.7 EURPLN 20 NZDCHF 8,0 USDSGD 3.1
CADJPY 2.3 EURUSD 1.6 NZDCAD 6 USDTRY 5,0
CHFJPY 2.3 EURRON 80 USDCAD 1.9 USDZAR 40
EURAUD 1.9 GBPAUD 2.8 USDCHF 1.9 USDRON 70
EURCAD 2.4 GBPCAD 3,0 USDSEK 4,0 ZARJPY 2,0
EURCHF 2.4 GBPCHF 3.1 USDDKK 5,0    
EURDKK 3.4 GBPJPY 3.6 USDHKD 4,0    

HotForex Mobile TradingHotForex Platforms

Trading Platforms: HotForex offers MeaTrader4, WebTrader and Fix-API

Mobile Traders: HotForex offers mobile traders for Android, iPhone, iPad and Blackberry

HotForex ANDROIDHotForex BLACKBERRY APPHotForex iPhone AppHotForex iPAD APP

◘ HotForex Web-Site Languages:

Web-site offers 13 languages.

◘ HotForex Customer Service Languages:

Customer service supports also many languages: English, Arabic, Chinese, German, Greek, Hindi, Japanese, Korean, Russian, Spanish

 

HotForex Review Advantages and Disadvantages

HotForex PROS

HotForex Review Advantages

HotForex CONS

HotForex Review Disadvantages

√ High Regulated Forex Broker offering also segregated client bank accounts

X Tight Spreads only for VIP accounts
√ Large Asset Index (43 currencies, 36 stocks etc)
X Withdrawal commissions
√ Providing PAMM / MAM Accounts  
√ Trading Education and Market Analysis
 
√ Personal Manager plus multilingual web-site support and customer service (13 languages)  
√ Allows Automated Trading and Scalping plus there is a Free VPS for deposits of more than $5K  
√ 30% standard welcome bonus and other promotions  

 

HotForex Review Conclusions

HotForex is a very large financial corporation which in 2014 was listed as one of the Top 100 World Finance companies. HotForex is an ECN / STP Forex broker based in Cyprus but also maintaining offices in many other countries. Safety of trading funds is the greatest advantage when trading with HotForex. First of all the broker is regulated by FCA UK, CySEC, MIFID and registered as well with some other European regulatory bodies. Additionally HotForex provides segregated client bank accounts, a feature that all Forex Brokers should offer nowadays. Another strong characteristic of the broker is the customer service which supports 13 languages via personal managers. There is also live chat, email and phone support. Trading platforms include metatrader4 and web-trader plus mobile traders for Android, iPhone ad BlackBerry. Automated trading and scalping are available plus there is a FIX-API platform and free VPS for deposits more than $5K. As concerns trading terms, the trading leverage is very high and may reach 1,000:1. The trading spreads can be considered as typical compared to competition for regular accounts but VIP accounts may offer considerably tighter spreads. The asset index offered by HotForex is wide including 43 Forex Pairs plus CFD trading with many stocks and indices from around the world. There are also 5 popular commodities. The minimum deposit in order to open an account at HotForex is only 5USD while there are many fund methods available including cards, wire, moneybookers, neteller, webmoney and some more. There is also a 30% welcome bonus for all new clients and several other promotions from time to time. HotForex offers also PAMM/MAM accounts and some interesting in-house programs for managed accounts by teams of professional traders. In overall, HotForex may be considered as an ideal choice for beginners and a good choice for advanced and very-advanced traders opening VIP accounts. 

» HotForex Web-Site

 

HotForex Rating Analysis: HotForex Rating

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