HotForex is a premium forex brokers that offer many promotions to their traders. they have multiple trading platforms and reasonable trading conditions, read more
The name behind HotForex is HF Markets (Europe) Ltd. This Cyprus-based investment firm is licensed and regulated by CySEC, and also operates within the guidelines laid out by the Markets in Financial Instruments Directive (MiFID) of the EU. To date, it has received quite a long list of awards, including Best New Forex South Africa 2016, Best Forex News & Analysis Provider 2016, Best Customer Service 2015, and an award for Business Excellence in 2015.
Clients are given the choice of trading in Forex pairs, CFDs for commodities, stocks, binary options, and indices, as well as being provided with added opportunities from a great range of bonuses and award programmes.
Hot Forex offers the full range of the MT4 and MT5 trading platforms. Despite the launch of the MT5 trading platform, MT4 remains the most popular one in use today. MT5 lacks features such as hedging and the lack of backwards compatibility makes the MT5 a distant second, despite the efforts made by MetaQuotes and Forex brokers to push it as the next generation trading platform. There is an ample range of options for both Android and iOS as well as desktop access.
While browsing through the different trading platform versions, it is important to point out that in the end, Hot Forex offers one trading platform from one provider, MetaQuotes. This is standard for most Forex brokers and while it looks good on paper, ignoring the marketing hype Forex traders will most likely trade on the MT4 trading platform.
HotForex Account Options
HotForex has chosen to offer a vast array so that most traders will be able to find something they like. There are accounts for beginners and those who prefer fixed spreads, accounts for the more experienced trader, and also an option for social trading fans. Let’s give you a very brief rundown of the most popular ones:
- Micro trading account – This is for those who want to trade small volumes and can only manage a low initial deposit, with maximum leverage up to 1000:1.
- Premium trading account – This account has no maximum trade size and is designed with the more experienced trader in mind.
- VIP trading account – Minimum trading volume is half a standard lot, and benefits increase alongside trading volume.
- Islamic trading account – Trade with peace of mind and in accordance with Shariah principles.
- Currenex trading account – Scalpers will be interested in this option.
- Auto account – Allows traders to automatically copy the signals of any signal provider.
Hot Forex offers Forex traders a range of tools and services in order to improve their trading experience, assist them in finding the right trading opportunities and increase their knowledge about the markets. The “Tools” section of the Hot Forex website is loaded with in-house developed tools as well as third-party tools which are beneficial to all types of traders. While not every trader will need the offered features, the choice is more than sufficient, with something for every type of trader.
This is a powerful third-party scanner which can identify three types of patterns and identify trading opportunities for you. As a HF Markets trader, you get this MT4 plugin for free which this broker a must-have.
This is a key tool to have for everyone who want to deploy EA’s and run their trading operations around the clock. Hot Forex offers three different packages which come with different computational power and storage capacity. They are free of charge with certain minimum deposits. Those who don’t meet the requirements to get the VPS hosting for free are most likely not in need of it in the first place, but everyone can apply. The charges start as $30 per month for those who are below the minimum required deposit amount, $/€/£ 5,000 for the Bronze Package.
HFcopy allows traders to become strategy providers and charge a fee for their services. It also caters to Forex traders who wish to follow a strategy and automates the entire process. Successful traders can unlock an additional revenue stream by charging for their strategy, great for those who have a profitable strategy with limited capital. It is also great for those traders who simply lack the time to create their own strategy and prefer to pay a fee in order to follow the strategy of a fellow trader.