HotForex Review

HotForex started operation in 2010. The company is one of the best forex brokers in recent history. HotForex is loved by the majority of her customers because the company places top priority on her customers. HotForex offers users of the platform the opportunity to trade in a futures market, spot markets, and Contract for Difference (CFDs). The company also engages in the following assets;

• Currency pairs
• Precious metals
• Crude oil
• Indices
• Equities
• Cryptocurrencies
• Commodity CFD’s.

HotForex is owned by HF markets group. Since the inception of HotForex, it has strived to carve a niche for itself. In terms of reliability and transparency, Hotforex can be regarded as one of the most sought-after trading platforms. In addition, the HotForex platform is designed with state-of-the-art technology to safeguard traders’ funds. The trading platform is also user-friendly and compatible with smartphones. Also, the HotForex platform has one of the best customer service desks. The company ensures users complaints are handled with the highest level of professionalism.

Regulations

The management of HotForex is being handled by HF markets group. Since it is situated in Cyprus, its operations are duly regulated and supervised by the Securities and Exchange Commission of Cyprus with a license number of 183/12. What this means is that the company complies with relevant financial rules and regulations promulgated by the Cyprus Parliament. In addition, HotForex is being regulated by the Mauritius Financial Services Commission with license number 094286.

Reliability

In terms of reliability and security of traders’ funds, HotForex stands tall among its competitors. Due to strict regulation by the security and exchange commission of Cyprus, it is expected that all brokers operating in the country must be a member of Investor Compensation Fund. HotForex has been duly registered as a member of Investor Compensation Fund. Customers using the platform can file for claims if there are any infractions in the right. The maximum amount a client can receive is 5,000,000 euros.

Trading Platforms

HotForex has only two trading platforms – the RapidTrader and the MT4 platform. Users of the platform can leverage on these two platforms to carry their business. The MT4 trading platform is powered by MetaQuotes software, an online solution provider. It is pertinent to mention here that the platform comes in the following versions;

• MT4 Desktop
• MT4 Multi Terminal
• MT4 WebTrader
• MT4 iPhone Trader
• MT4 iPad Trader
• MT4 Android Trader
• MT4 Smartphone Trader

The MT4 platform is the most popular trading platform that most brokers usually adopt. This is because it is flexible and also easy to use. The platform was launched in 2005, since then all the brokers have keyed into the platform to offers customer seamless trading experience. In addition, the platform is meant for both experienced traders and beginners. One of the most outstanding features of the MT4 trading platform is its user-friendly interface. Traders can take advantage of the MT4 platform to enhance their trading experience. Also, the MT4 platform is designed with a charting package that would enable users to monitor and track their investment in real-time.

Aside from the MT4 trading platform, the company also provides users of the platform with a trading platform known as RapidTrader API. The RapidTrader API platform is powered by a software company known as Integral. This platform is unique and has its own inherent features.

HotForex Mobile Trader

This trading platform is designed for traders that love the flexibility. With this trading platform, trading activities can take place while on the go. All traders need to do is to download the HotForex app from either Apple store of Google play store, install, and then get started. Similarly, trading can also be done on the web.

HotFrex Trade Instruments

Currently, the HotForex platform offers traders the opportunity to trade in a futures market, spot markets, and Contract for Difference (CFDs). The company also engages in the following assets;

• Currency pairs
• Precious metals
• Crude oil
• Indices
• Equities
• Cryptocurrencies
• Commodity CFD’s.

HotForex Account Types

The HotForex platform has several trading accounts that users can leverage on to trade instruments. The following are the accounts;

Micro Trading Account

• $5 minimum deposit
• 1:1000 Leverage Available
• Variable Spread
• 150 Maximum position

Premium Trading Account

• $500 Min Deposit
• 1:400 Leverage Available
• Variable Spread
• 300 Max position

Zero Trading Account

• $100 Min Deposit
• 1:200 Leverage Available
• Variable Spread
• 500 Max position

Fixed Trading Account

• $500 Min Deposit
• 1:400 Leverage Available
• Fixed Spread
• 300 Max position

VIP Trading Account

• $20,000/€18,500 Min Deposit
• 1:300 Leverage Available
• Variable Spread
• 400 Max position

AUTO Trading Account

• $500 Min Deposit
• 1:400 Leverage Available
• Variable Spread
• 300 Max Simultaneous position

Demo Account

HotForex also has a demo account to enable traders to practice the art of trading before opening a real account.

HotForex Spreads & Commissions

The spread offered by HotForex is highly competitive. Spread is actually one of the ways that HotForex makes money. The company charges spread as soon as users of the platform carry out trading. In order to further understand HotForex spread, please refer to the following;

Instrument                      Spread

1. EUR/USD                              1.2
2. EUR/CHF                              1.9
3. EUR/GBP                              1.8
4. EUR/JPY                                1.7
5. USD/JPY                                1.7
6. BRENT CRUDE                      5
7. SILVER (USD)                       4.5
8. GOLD (USD)                           29
9. UK100                                       1
10. USA500                                   0.5

HotForex Withdrawals & Deposits Options

Traders using the HotForex platform can deposit funds through the following ways;

• Credit/Debit cards
• VISA
• MasterCard
• Maestro
• Bank Wire Transfer
• eWallets
• Neteller
• Skrill
• Fasapay
• WebMoney
• UnionPay
• BitPay.

However, the fastest way to deposit money into your account is the Credit card option. Traders can take advantage of this to deposit funds into their accounts seamlessly. Any trader using the bank transfer option should note that bank transfer takes an average of 3 days to hit the traders account.

Withdrawal Option

Traders that intend to withdraw their funds can do so through the following ways;

• Credit/Debit cards
• VISA
• MasterCard
• Maestro
• Bank Wire Transfer
• eWallets
• Neteller
• Skrill
• Fasapay
• WebMoney
• UnionPay
• BitPay.

HotForex Promotions And Bonus

Traders on the HotForex platform enjoy several promotional programs and bonuses. There are three different types of bonuses such as the 30 percent Rescue bonus, the 100 percent SuperCharged bonus, as well as, the 100 percent Credit bonus. Traders can want to take advantage of the SuperCharged bonus should note that the maximum bonus is about %50,000, while the Rescue bonus has a maximum bonus of $7,000.

The promotional programs offered by the company are known as the loyalty program. The program is further divided into four categories which are Platinum, Gold, Red, and Silver. In addition, HotForex also organizes various forms of contests with a view to enabling traders to win mouth watery prizes.

HotForex Customer Support

The HotForex platform has one of the best customer support team. The team is trained and certified to handle customers’ complaints and queries with the highest level of professionalism. In addition, the team works in line with global best practices of dealing with clients.

Customers that wish to get in touch with the customer service can do so via social media, email, telephone, contact form, and live chat. The customer service telephone numbers of different countries are highlighted below;

• Brazil +55-2139581441
• China 4001-200742
• India 000-800-100-7060
• Indonesia 001-803-017-9110
• Nigeria +234 7063705519
• Russia +8-800-100-6322
• South Africa 0-800-999-265
• Spain +34-931845604
• Taiwan 00801-14-8970
• Turkey +90-850-3902146

Advantages of HotForex

The following are some of the benefits traders stand to enjoy on the HotForex platform;

• Trading platforms that are duly regulated by the Security and Exchange Commission
• Traders have the opportunity to file for claims in the event of infractions
• Competitive Spreads
• A Superb customer support team
• Availability of the MT4 platform
• The trading platform is user-friendly
• The company has a mobile platform for traders that love the flexibility
• The company is reliable due to strict regulations

Conclusion

HotForex is second to none in terms of flexibility, user-friendly interface, compatibility with smartphones, and robust customer support. As a trader, you have access to several trading instruments such as futures market, spot markets, and Contract for Difference (CFDs). The company also engages in currency pairs, Commodity CFDs, Cryptocurrencies, Equities, indices, crude oil, and Precious metals.[/vc_column_text]

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