Being on the market for many years, HotForex has been able to show itself from different sides. Being one of the oldest and most successful forex brokers in the Middle East, HotForex has a lot to offer nowadays. Explore this HotForex Review to find out more!
Leverage: 1:1000 Licences: CySEC, BAFiN
Spreads: from 0.4 pips US Clients: No
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HotForex Forex Trading Broker at a Glance
HotForex is a company headquartered in Forex’s homeland: Cyprus. A brand name of HF Markets Europe, HotForex is an award winning Forex and CFDs broker, that provides retail trading services and facilities to its clients. Its policy is to provide the best possible trading conditions to its clients by allowing them to use account advisors.
HotForex Forex Broker Accounts Overview
A large number of accounts are available: Micro, Premium, VIP, FIX, Currenex and Auto. The large leverage of 1000 is only available for the Micro account; the maximum leverage available in the other accounts is 400.
The instruments available for all the accounts are Forex, Indices, Commodities and Share CFDs. These accounts are suitable for large traders and people that prefer trading exotic pairs, since they have 28 currency pairs available. The VIP account and Currenex boast a minimum spread of just 0.4 pips, but the minimum amount in the VIP account is $40000, so it won’t be widely used. In the rest of the accounts, the minimum spread is 1 pip, but most are 2 or higher.
HotForex Review of Trading Platforms
The main trading platform is MT4, to which there are added a number of customized tools that are built in-house: Smartphone Mobile Trading, HotForex MT4 iPhone, HotForex MT4 iPad, HotForex MT4 Android and HotForex WebTrader. There is even the option to trade with more than one account at the same time by using MetaTrader 4 MultiTerminal.
HotForex Reviews of Extra Features
There are lots of instruments meant to instruct new traders and to give them the information that is important at the start. There are a number of 20 video tutorials that are available in 5 languages. These include information about MetaTrader4, basic concepts and advanced concepts. Also a number of e-courses are available that are very well structured and go into depth, regarding a large segment of information that a new trader needs to know. A small blemish is that only a small number of webinars are provided, but all-in-all the learning center is very generous and well-organized.
HotForex Forex Broker Support
Customer support is offered 24/5. The ways to reach customer support are: live chat, telephone, e-mail and even on the social media sites: Facebook, Google Plus and Twitter.
HotForex Reviews of Deposits and Withdrawals
HotForex boasts an auto-withdraw option that lets clients instantly transfer profits from the trading account to the MyWallet balance thus making the process of transferring capital quicker. This auto-transfer of funds offered by HotForex allows clients to both instantly access funds and make additional deposits when required. It only takes seconds after a client has requested to transfer funds for the transaction to be completed.
Funding is available through: credit cards, debit cards, bank wire, WebMoney, Skrill, Neteller, Sofort, iDeal, Western Union, Przelewy 24, Trust Pay.
HotForex Review Conclusion
It is easy to see that HotForex is a broker that tries to please as many people as it can, by offering support on social networks and by being very user friendly to people from a large number of countries. To this we may add an excellent education package and trading tools meant to attract new traders and also at the same time convince old traders that they have a lot of good reasons to switch brokers. It gains a solid recommendation from us.