HotForex Review – Expert Review of Hotforex.com
Hotforex is one of the best forex and commodities brokers out there, offering both retail and institutional clients an array of award winning trading services. Hotforex has set themselves apart from other ECN brokers by providing the best customer service, a great variety of account types and all the trading software and tools necessary to trade Forex and Commodities successfully online.
All HotForex clients have the opportunity to access interbank spreads and liquidity through the best automated trading platforms available. Hotforex is renowned for the superior trading conditions and extremely fast execution by providing all to the tools and services necessary to clients of any level of trading.
- Established year : 2010
- Broker Type: STP Broker
- Headquarters: Mauritius
- Regulated Authority: Financial Services Commission (FSC) – Mauritius
- Accept Us Clients: No
- Open An Account with Hotforex here : Hotforex.com Open Account
Hotforex.com Account Types:
Hotforex offers a variety of account types to accommodate any level of traders, from beginner to advance.
Allows traders to open a live trading account with minimum deposit of only $5! This account is for traders new to the forex market and/or traders who wish to trade smaller trade sizes. With spreads starting at only 1 pip, Max Leverage of 1:1000 and a minimum trade size of only 0.01 lot and Maximum of 5 Standard lots, this account is idea for those traders just getting started to allow them to minimize their risk while still trading live.
The premium (or standard) account is for more experienced traders. With a minimum opening deposit of $500(USD), Maximum leverage of 1:400, minimum trade size of 0.01 and max trade size of 60 standard lots. With the premium account, you are also assigned your own personal account manager along with all the tools and services necessary to trade effectively and almost effortlessly.
For the ultimate experience in trading, the VIP account offers many unique services, such as Unlimited Live Chat sessions with expert analysts, A complimentary subscription to daily update services via SMS and Three private 30 minute consultation sessions with Chief Market Analyst Janna Muta (bookable in advance). There is a minimum opening deposit of $20,000 and a minimum trade size of 0.1 lots (10,000 units of base currency). Spreads begin at only 0.2 pips with a max leverage of 1:300.
Hotforex also provides accounts suitable for scalper trading (Currenex Account) and Swap-Free trading (Islamic Account). Hotforex also offers FIX accounts for fixed spreads, PAMM account for money managers and an unlimited risk free DEMO account for newcomers who just want to test the water but aren’t ready to risk any capital.
Also see HotForex Deposit Bonus promotions of 2015
Hotforex values the customers and achieves their mission by impressing the clients through an unparalleled level of service and consistency. Their passion and determination is what sets them apart from most other brokers and they have a high level of respect for colleagues as well as clients. Having been in business for more than 5 years, with over 350,000 Live accounts opened and more than 140 Employees worldwide, HotForex has built a team of experts with a positive attitude and “family spirit”.
They are dedicated to helping traders make the most of forex trading by being reliable, embracing change and taking responsibility for their actions. In the world of highly competitive Forex trading, Hotforex stand apart from many other forex brokers with their integrity and client consideration.
The best and most convenient Platform options of Hotforex
Hotforex offers traders the best platform available with one of the most popular front-end application in the industry, MetaTrader 4. Hotforex has taken MT4 and has introduced its liquidity in order to offer traders a user-friendly interface with interbank liquidity and very fast execution. MT4 provides all the tools and resources needed for traders to analyze the market, use automated trading (Expert Advisors) and make lightning fast trades. Hotforex also offer the convenience of MultiTerminal trading, allowing traders to manage several account simultaneously through one interface.
You can download and install the MT4 to your desktop in minutes and begin trading almost immediately. The ease of use and intuitive design makes this platform great for new traders as well as functional enough for even the most seasoned traders. In addition to trading on your desktop, Hotforex offers several other choices to allow you to trade from anywhere with nearly any device such as:
- IPhone Trader
- IPad Trader
- Droid Trader
- MT4 Smartphone
- With the HotForex Webtrader you can even use your Chrome book to trade!
Deposits and Withdrawals : HotForex
Hotforex provides a wide variety of deposit and withdrawal methods and they never charge a fee for withdrawing or depositing funds.
The following methods are available for depositing funds into your Hotforex account:
Wire Transfer Minimum Deposit of $100, no maximum deposit. Funds usually take between 2-7 working days to be credited to your account. Hotforex will cover the fees from wire transfers on transfers over $250(USD)
Credit Card Visa and Visa Electron- Minimum deposit of $5, maximum deposit of $10,000. Fund usually available within 10 minutes of deposit. MasterCard – Minimum deposit of $5, maximum deposit of $7,500 (per transactions) and funds are usually available within 10 minutes.
Online Payments (All online payment methods requires a minimum deposit of only $5)Web money – Maximum Deposit of $50,000 with instant availability. Skrill – Maximum Deposit of $10,000 with instant availability.NetTeller – Maximum Deposit of $50,000 with instant availability.CashU – Maximum Deposit of $500 with availability. Up to 10 minutes Fast Pay – Maximum Deposit of $5,000 with instant availability.
The following methods are available for withdrawing funds from your Hotforex account:
Wire Transfer Minimum withdrawal of $100, no maximum withdrawal amount. Withdrawal time is usually 2-7 days depending on your bank and your bank may charge withdrawal fees.
Credit Card Visa and Visa Electron- Minimum withdrawal amount of $5, maximum withdrawal of $10,000. Withdrawals may take 2-10 business days before funds are available. MasterCard – Minimum withdraw amount of $5, maximum withdraw of $10,000 and 2-10 days before withdrawn funds are available.
Online Payments Web money – Maximum Withdrawal of $5,000, Minimum withdrawal of $5Skrill – Maximum Withdrawal of $4,000 Minimum withdrawal of $5NetTeller – Maximum Withdrawal of $10,000 Minimum withdrawal of $5FastPay – Maximum Withdrawal of $5,000 Minimum withdrawal of $5
HotForex now also offers the HotForex Debit Card to allow you for easy withdrawal of your funds directly to your debit card, which is usually processed within 24 hours and can be used at most retail stores as well as ATM machines. This card is free for all traders who have live account and can be obtained easily through simple sign-up process with no credit checks.
Support for beginners
Hotforex is well known for their excellent support system tailored for beginning traders (and also for their experience traders). If you have never traded Forex before, you will find that Hotforex offers a host of services and tools that will make it easy to get into Forex trading and start making wise trading decisions in a very short period of time.
HotForex offer their new traders access to variety of tools to get them up and running, including live webinars, HotForex Video Tutorials, Forex Education / e-courses, an exclusive HotForex Blog with up to date information, tips, tools and techniques and an ever-expanding FAQ (Frequently Asked Questions) where you can find answers to most of your questions. In addition to all of these excellent tools, HotForex offers live customer support 24/5 to allow you to ask your questions and get immediate answers.
This brief (but informative) review of Hotforex brokers has only touched the tip of the iceberg, with an excellent trading platform, an awesome array of account types for every trader’s level, fantastic customers support, easy deposit and withdrawal of funds with no hidden fees, it’s no wonder HotForex has won over 16 industry awards for their great service and dedication to their clients.
To find out more about HotForex, we recommend you stop by their site and read what all they have to offer you. If you are new to trading, go ahead and open a free demo account with them, so you can get a feel for the system and support offered. Once you realize how easy, convenient and customer driven HotForex is, you’ll thank us for pointing you in their direction.