HOTFOREX RATING -OVERALL SCORE {79.38%} (?)

 

HotForex is an ECN/STP broker based in Cyprus. The broker offers a great variety of trading options including CurreneX accounts, Automatic Trading, Free VPS, PAMM accounts, many trading platfomrs, wide asset index, CFDs on Futures, etc.

Deposit Requirements: 10 USD for Regular Accounts | 500 USD for the CurreneX Account

Funding: Cards | Bank Wire | Neteller | iDeal | Skrill | SoFort | WebMoney | Qiwi | Many More Local Funding Methods

Platforms: MetaTrader-4 | MT4 MultiTerminal | MT4 WebTrader | Mobile Traders

Customer Support: English | Arabic | Russian | Spanish | Chinese | German | Greek | Hindi | Japanese | Korean | Persian

» HotForex Website | » HotForex Full Review

Chart: HotForex Basic Ratings (Based on ForexRating Formula 5.0)

The RatingFormula 5.0 gives a good rating score as concerns 'Trading Options' and 'Technology' and an average score for 'Competition'. As concerns trading styles, HotForex is a good choice for intraday and swing traders, but not for carry traders (not competitive swaps). 

-Note: The trading conditions of HotForex were rated under the HotForex CurreneX account (min deposit $500). 

Chart: HotForex Special Ratings

HOTFOREX RATING SUMMARY

The following table contains HotForex's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.

FOREX BROKER RATING (MAX 100%)
  • HOTFOREX FUNDS SAFETY
66.5%
  • HOTFOREX TRANSACTION COST
71.4%
  • HOTFOREX TRADING OPTIONS AVAILABLE
88.4%
  • HOTFOREX TECHNOLOGY
100.0%
  • OVERALL RATING
79.4%
TRADING EXPERIENCE  
  • HOTFOREX FOR FOREX BEGINNERS
77.8%
  • HOTFOREX FOR ADVANCED FOREX TRADERS
73.5%
  • HOTFOREX FOR PROFESSIONAL FOREX TRADERS
71.7.%
TRADING STYLE  
  • HOTFOREX FOR INTRADAY TRADERS
76.1%
  • HOTFOREX FOR SWING TRADERS (MID-TERM)
77.1%
  • HOTFOREX FOR CARRY TRADERS (LONG-TERM)
42.5%

HOTFOREX DETAILED RATING REVIEW

HOTFOREX RATING ANALYSIS    
HOTFOREX TOTAL RATING   100.0%  
      79.38% FULL ANALYSIS
A. HOTFOREX  SAFETY OF FUNDS MAX WEIGHT→ 28.0% 18.63% Rating the HotForex Safety
A.1 HotForex License / Regulation FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating 10.0% 6.50% HotForex is regulated by the CySEC = 6.0% rating, MiFID Rating = +0.5% | Total = 6.5%
A.2 HotForex Client Compensation in Case of Insolvency Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
5.0% 4.00% HotForex offers client compensation (in case of insolvency) up to 20,000 EUR through ICF = 4.0% rating
A.3 HotForex Country of Headquarters UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand  = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% 5.0% 0.00% HotForex is the trading name of HF Markets (SV) Ltd, registered in St. Vincent and The Grenadines = 0.0% rating
A.4 HotForex Years in the Market 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% 5.0% 5.00% HotForex was found in 2007 (10+ years) = 5.0% rating
A.5 HotForex Client Account Segregation Client bank account segregation =  2.5% rating | No = 0.0% 2.5% 2.50% HotForex provides client bank segregated accounts = 2.5%
A.6 HotForex Web Ratings ForexPeaceArmy Rating = 0.5% rating 0.5% 0.38% HotForex ForexPeaceArmy Rating is 3.8/5.00 = 0.38% rating
A.7 (+) HotForex ADJUSTING RESULTS        
A.7.1 HotForex Corporate Size 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating 1.0% 0.25% HotForex handles 350,000+ accounts = 0.25% Rating
B. HOTFOREX TRANSACTION COST MAX WEIGHT→ 28.0% 20.00% Rating the HotForex Transaction Cost
B.1 HotForex spread on EURUSD <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% 7.0% 7.00% CurreneX Account -Typical HotForex EURUSD spread is 0.3 pip = 7.0% rating
B.2 HotForex spread on GBPUSD <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 3.50% CurreneX Account -Typical HotForex GBPUSD spread is 1.1 pips = 3.5% rating
B.3 HotForex spread on USDJPY <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 4.50% CurreneX Account -Typical HotForex USDJPY spread is 0.6 pips = 4.5% rating
B.4 HotForex Trade Commissions No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating |  < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating  7.0% 0.00% CurreneX Account -HotForex charge trading commissions $5.00 per Lot Traded ($10 round turn) =  0.0% rating
B.5 HotForex Overnight (SWAP) rates Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.75% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% 2.0% 0.00% HotForex rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$5.4 | HotForex rollover on a Short EURUSD trade worth 1 lot ($100,000) is -$1.76 | Total cost in absolute value is $7.16, rating = 0.00%
B.6 HotForex Commissions on Funding No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating  2.0% 2.00% HotForex does not charge withdrawal commissions = 2.0% rating
B.7 HotForex Inactive Fees No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating 1.0% 1.00% HotForex does not charge Inactive Fees  = 1.0% rating
B.8 (+) HotForex ADJUSTING RESULTS        
B.8.1 HotForex Execution Model ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating 2.0% 2.00% ECN Order Execution Model (CurreneX) = +2% rating
C. HOTFOREX TRADING OPTIONS MAX WEIGHT→ 28.0% 24.75% Rating the HotForex Options for Traders
C.1 HotForex Forex Asset Index 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+  Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating 8.0% 8.00% HotForex Provides 45 Forex Pairs plus the USDX (US Dollar Index) = 8.0% rating
C.2 HotForex CFDs CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% 2.5% 2.50% HotForex offers CFD trading = 2.5% rating
C.3 HotForex CFDs on Futures CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating 1.5% 1.50% HotForex Offers CFDs on Futures = 1.5% rating | No CFDs on Futures = 0.0% rating
C.4 HotForex Free Practice Account Practice Account = 2.0 % rating, No = 0.0 % rating 2.0% 2.00% HotForex Provides a free Demo/Practice account = 2.0% rating
C.5 HotForex Trading Leverage Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating 1.0% 1.00% 888:1 max Trading Leverage = 1.0% rating
C.6 HotForex Bonus/Rebate Promotions   5.0%    
C.6.1 HotForex Welcome Bonus (%) Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating   1.50% 30% Rescure Bonus (Credit Bonus / Not Withdrawable) | Receives 50% of a 3.0% rating as you can't withdraw it =  Final Rating is 1.5%
C.6.2 HotForex Trading Rebate (%) Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating   0.50% HotForex Offers Trade Rebates via Forex-Rebates.com = 0.5% rating (CurreneX Account)
C.7 HotForex Min. Account Size Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating 2.0% 2.00% The min. deposit amount is $10 = 2.0% rating
C.8 HotForex Number of Deposit Methods For every deposit method = 0.5% rating | max = 5 methods 2.5% 2.50% HotForex offers 5+ deposit methods = 2.5% rating
C.9 HotForex Number of Withdrawal Methods For every withdrawal method = 0.5% rating | max = 5 methods 2.5% 2.50% HotForex offers 5+ withdrawal methods = 2.5% rating
C.10 Minimum Stop-Order Levels (in pips) 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating 1.0% 0.50% HotForex offers 3 pips minimum stop-out levels = 0.50% rating
C.11 (+) HotForex ADJUSTING RESULTS        
C.11.1 Offering more than 100 Forex Pairs Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating 1.0% 0.00% 45 Forex Pairs = +0% rating
C.11.2 Paying Interest on unused funds Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating 0.5% 0.00% No = +0%
C.11.3 HotForex Contests Contests = 0.25 % rating | No = 0 % rating 0.25% 0.25% HotForex offers Real/Demo Account Competitions = +0.25% rating
D. HOTFOREX TECHNOLOGY MAX WEIGHT→ 16.0% 16.00% Rating the HotForex Technological Efficiency
D.1 HotForex Trading Platforms Availability For every Platform = 1.0% | max = three (3) platforms 3.0% 3.00% HotForex offers MT4, MT4 Multiterminal, WebTrader, FIX trading platform  = 4.0% rating
D.2 Trading-On-Charts Offering Trading-On-Charts = 1.0 rating | No=0% 1.0% 1.00% HotForex is offering 'Trading-On-Charts' = 1.0% rating
D.3 HotForex Slippage on Execution Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating 1.0% 1.00% HotForex Slippage on execution is less than 1.0 pip = 1.0% rating
D.4 HotForex Allowance of Automated Trading Automated Trading is Allowed = 2.0 % rating  / No = 0 % rating 2.0% 2.00% HotForex fully allows automated trading = 2.0% rating
D.5 HotForex MT4 Platform Availability MT4 is Provided = 2.0 % rating / No = 0 % rating 2.0% 2.00% HotForex offers the MT4 platform = 2.0% rating
D.6 HotForex Mobile Apps iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points 2.0% 2.00% HotForex offers an MT4 App for iPhone and Android = 2.0% rating
D.7 HotForex Allowing Scalping / Hedging Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating 1.0% 1.00% HotForex allows both Scalping and Hedging = 1.0% rating
D.8 HotForex Customer Service 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating 4.0% 3.00% HotForex offers 24/5 Customer support = 0%, via eMail, Phone, Live Chat = 3.0% | Total rating is 3.0%
D.9 (+) HotForex ADJUSTING RESULTS        
D.9.1 HotForex PAMM / MAM Accounts PAMM / MAM Accounts = 0.5% rating | No = 0 % rating 0.5% 0.50% HotForex is offering PAMM accounts = +0.5%
D.9.2 HotForex Free VPS Free VPS = +0.5% rating | No = 0 % 0.5% 0.50% Yes, Free VPS under policy = 0.5%
D.9.3 HotForex API Trading API trading = 0.5 % rating | No API = 0.0 % rating 0.5% 0.50% HotForex is offering API trading = +0.5%
    TOTAL HOTFOREX RATING 79.38%  

HOTFOREX LICENSES AND SIMILAR INFORMATION

The broker handles more than 350,000 trading accounts and offers customer support in 22 different languages.

■ HotForex is the trading name of HF Markets (Europe) Ltd a Cypriot Investment Firm (CIF) under number HE 277582

■ HotForex is regulated by CySEC (Cyprus), Registration Number: 183/12

■ Banking through Barclays UK and BNP Paribas

■ HotForex is a member of ICF and covers up to 20,000 EUR per client in case of corporate insolvency

 

 

■ MORE RATINGS: » XM | » IRONFX | » FXGLOBE | » TALLINEX (US TRADERS)

 

HotForex Rating Review

ForexExperts.net (c)

 

Hotforex Benefits

Enter the Compare Zone

Compare Forex Brokers Based on the Algorithms of the Forex RatingFormula 5.0..

Compare Zone

Consisting four (4) Rating Factors {Safety, Competition, Options, Technology) -Maximum score is 100%

Currency Statistics

Enter the world of Forex statistics, you may be amazed by the power of seasonality when trading currencies.

Forex statistics

■ THE MAJOR PAIRS

 EURUSD |  GBPUSD |  USDJPY |  USDCHF

AUDUSD |  NZDUSD |  USDCAD

■ KEY FOREX CROSSES

EURGBP |  EURJPY |  EURCHF |  EURCAD

EURAUD |  EURNZD |  GBPJPY

Review Brokers

Review ECN/STP Online Forex Brokers..

All our plans are free to join, lasting permanently, and most importantly we will never widen your trading spreads, as other IBs do. That is our guarantee.

Trade Systems

A trading system is a set of specific processes and rules that can help traders to optimize their trading process, or to develop automated trading strategies (EAs):

» EA Builder for MT4 and MT5

» Compare EA Systems

» Market Sentiment

» Forex PAMM Accounts

Forex Ratings

Forex Broker Ratings Powered by the Revolutionary RatingFormula 5.0Forex Broker Ratings Powered by the Revolutionary RatingFormula 5.0 (?)

» XM Rating

» FXCC Rating

» IronFx Rating

» HYCM (HYMarkets)

» HotForex Rating

» ICMarkets Rating

» FxGlobe Rating

» Dukascopy Europe

(+) All Forex Ratings

Go to top