HotForex.com Review

ECN Forex Review: HotForex

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 UK, CySEC but it is also registered with CONSOB, ACP France, AFM Netherlands, and CNMV Spain

◘ Years in the Market: HotForex was founded in 2007

◘ US Clients: HotForex forbids US Clients (NO)

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

◘ Order Execution: ECN / STP Execution

HotForex Trading Info

◘ Server Time: GMT+1

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

◘ Trading Leverage: HotForex offers max leverage of 30:1

◘ 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 Deposit Methods: Bank Wire, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, and WebMoney

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.

HotForex Platforms

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

◘ HotForex Web-Site Languages:

The website 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 Review Conclusions

HotForex is a very large financial corporation that 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 maintains offices in many other countries. The safety of trading funds is the greatest advantage when trading with HotForex. First of all the broker is regulated by FCA UK, CySEC, and 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 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 and iPhone. Automated trading and scalping are available plus there is a FIX-API platform and free VPS for deposits of more than $5K. As concerns trading terms, the trading leverage is very high and may reach 30:1. The trading spreads can be considered 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 to open an account at HotForex is only 5 USD 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.

■ HotForex Forex Broker Review

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