HOTFOREX Review

HotForex is a regulated ECN/STP Forex Broker offering MetaTrader4, CurreneX, FIX/API and PAMM Accounts

HotForex is a part of the HF Markets (Europe) Ltd which is a very large Financial Group. These are some key points of the HotForex Review:

  • Minimum account size: $10
  • Minimum lot size: 0.01
  • Trading Leverage: Up to 1:1,000
  • Funding: Cards, Bank Wire, CashU, Neteller, Skrill, WebMoney, Western Union (and more)
  • Automatic Trading / Scalping: Fully allowed, API Trading
  • Trading Platforms: MT4, Currenex, HotForex WebTrader, iPhone and Android Trader, PAMM, FIX/API
  • Trading Spreads: Variable CurreneX spread as low as 1.0 pip
  • Trading Commissions: on VIP accounts where spreads as low as 0.2 pip
  • US Traders: No
  • Islamic Traders: Yes
  • Account Currencies: USD, EURO
  • Languages: Arabic, English, German, Russian, Spanish, Greek
  • Asian Languages: Chinese, Hindi, Japanese, Korean, Persian
  • Customer Support Methods: 24/5 via LiveChat, eMail, Phone
  • Promotions: 100% Welcome Bonus, Free VPS, Trading Contests

 Register an ECN Account with HOTFOREX

 

HOTFOREX Corporate Profile

HotForex is part of the HF Markets (Europe) Ltd. Group which is a very large financial group. HotForex is regulated by the Cyprus Securities Exchange Commission (Reg. No 183/12) and it is also registered with other European bodies including FCA UK and BaFIN Germany. HotForex is a member of the Committee of the European Securities and Markets Authority (ESMA) and it is also a member of the Investor Compensation Fund (ICF). HotForex applies full client account segregation via top-grade banks such is Barclays UK and BNP Paribas.

HotForex has opened more than 350,000 trading accounts the past 5 years and employees over 130 people.

  • Headquarters: Larnaca, Cyprus (EU)
  • Foundation: 2010
  • Regulation: CySEC (#183/12), FSC Mauritius (#C110008214)
  • Client Account Segregation: via Barclays (UK) and BNP Paribas (France)
  • Other: HotForex is a full member of the Investor Compensation Fund (ICF)

Hotforex Benefits

HOTFOREX ECN Trading

HOTFOREX is an ECN/STP Forex broker offering Currenex, AutoTrading, FIX/API and a free VPS service.

  • Platforms: MT4, Currenex, HotForex WebTrader, iPhone and Android Trader, PAMM, FIX/API
  • Scalping: Allowed
  • Hedging: Allowed
  • Trailing Stops: Yes
  • Spreads: Starting at 1.0 pip, Fixed Minimum Spread at 1.8 pip
  • Commissions: Only on VIP accounts where spreads start as low as 0.2 pip

Based on all the above, HotForex is a very good choice for day trading and scalping Forex. For scalpers, the Currenex account is their best choice as it offers tighter spreads with a minimum account deposit of $500.

  • Demo: Yes
  • Server Timezone: GMT+2
  • API Trading: Yes
  • VPS for TradersFree if the client is depositing over $5,000

HOTFOREX Accounts & Funding Methods

HotForex offers a good variety of fund methods including Cards, Wire but also Internet Funding Methods such as CashU, Skrill, Neteller, Ukash, and Webmoney. As with all other Forex brokers, traders are required to send legally mandated identity information before make any withdrawal request. All client funds are segregated from the corporate funds via major Tier-1 European Banks, like BNP Paribas and Barclays. The minimum deposit requirement is just $10.

  • Broker Type: ECN / STP
  • Account Currencies: EURO, USD
  • Payment Options: Cards, Bank Wire transfer, CashU, Neteller, Skrill, SOFORT, WebMoney, Western Union (and more)
  • Minimum Deposit: $10
  • Free Demo: Yes
  • US Traders: No
  • Islamic Account: Yes

HOTFOREX ACCOUNT TYPES

These are all HotForex Account Types:

(1) HotForex Micro Account

minimum deposit: $50, maximum leverage: 1:1000, spread: from 1 pips

(2) HotForex Premium Account

minimum deposit: $500, maximum leverage: 1:400, spread: from 1 pips

(3) HotForex VIP Account

minimum deposit: $40 000, maximum leverage: 1:300, spread: from 0.4 pips, commission: $6 per round turn lot traded

(4) HotForex Currenex Account

minimum deposit: $500, maximum leverage: 1:400, spread: from 0.4 pips, commission: $10 per round turn lot traded

(5) HotForex Islamic Account

minimum deposit: $150, maximum leverage: 1:400, spread: from 1 pip

(6) HotForex FIXED Account

minimum deposit: $500, maximum leverage: 1:400, spread: from 1 pip

(7) Zero Spread Account

min deposit 100 USD, max leverage 1:200, spread: from 0.0 pips

(8) HotForex Social Account

min deposit 100 USD, max leverage 1:100, spread: from 1 pip

(9) HotForex Auto Account

min deposit $500, max leverage 1:400, spread: from 1 pip

Start Trading Forex with HOTFOREX and get a Monthly Trading Rebate

HOTFOREX offers Forex Trading Rebates (up to $6.4/lot) via Forex-Rebates.com

► Register with HOTFOREX from here and claim your Free Trading Rebate

HOTFOREX Trading Platforms

HotForex offers basically the MT4 platform in several versions including MT4 mobile traders for Android and iOs. There is also the CurreneX platform, the WebTrader plus the HotForex PAMM platform. HotForex uses 256-bit SSL technology for encrypting data. Automatic Trading, Scalping, Hedging and Expert Advisors are all allowed. FIX/API trading is also available.

Trading Platforms

MT4, Currenex, HotForex WebTrader, iPhone and Android Trader, PAMM, FIX/API

Automatic, Trading and Scalping

Yes

API Trading

Yes

Stop Orders:

Yes

Limit Orders:

Yes

Market Orders:

Yes

Trailing Stop Orders:

Yes

OCO Orders:

Yes

1-Click Trading:

Yes

HotForex Security


HOTFOREX V2 PAMM ACCOUNTS

HotForex offers PAMM Accounts. HotForex v2 PAMM is very popular among Forex traders. These are the features of HotForex v2 PAMM Accounts:

  • Safety of Money
    PAMM managers fo not have access to their traders funds
  • PAMM Manager Accountability
    HotForex requires from all PAMM managers to invest some of their own money in their accounts.
  • PAMM Account Transparency
    Access real-time reporting on any PAMM manager's performance via the HotForex Wallet
  • Funding Flexibility
    The HotForex PAMM Account provides full control over the investment. Traders can make a deposit or withdrawal from their own account at any time. No charges from HotForex.
  • PAMM Account Risk Management
    Traders can choose a Rescue Level and control their risk

HOTFOREX Customer Service

Here are the main features of the HOTFOREX Customer Service:

  • Support Methods: 24/7 via Phone, Live Chat, E-mail
  • Personal Account Manager: Yes
  • Languages: Arabic, Chinese, English, German, Greek, Hindi, Japanese, Korean, Persian, Russian, Spanish
  • Offices: Larnaca (Cyprus), other HotForex offices around the world

HOTFOREX Trading Promotions

These are the major Promotions of HotForex, including welcome bonus:
  • 100% SuperCharged Bonus
  • 100% Credit Bonus
  • 30%   Rescue Bonus
  • Free VPS for traders depositing more than 5,000 USD
  • Technical analysis from TradingCentral.com clients depositing over 2,000 USD
  • Trading Contests (HotForex Currency Contest, VIP Contest, HotForex Demo Contest)
  • $6.4 / lot Forex Trading Rebate (check below)

► HOTFOREX Bonus Offerings Page

HOTFOREX Review Summary

HotForex is a regulated ECN / STP Forex broker offering a little bit about everything. Many trading platforms are available, many different account types, various fund methods, tight spreads and good customer service. Auto-trading and scalping are fully allowed. HotForex is regulated by CySEC and Registered with FCA UK and BaFIN. Client Account segregation is happening via Barclays and BNP while the broker is a member of ICF.

HotForex offers a really responsive 24/7 customer support via LiveChat, Phone and eMail. Their customer service is multilingual and includes several languages such as Arabic, English, French, Chinese, etc. The new account opening process is easy and you may choose from 9 different account types including Social Trading Accounts, FIX/API Accounts, AutoTrading Accounts, VIP and Islamic Accounts. The minimum deposit is just $10 and you may fund your account via many different methods including Internet Funding (Cashu, Neteller, Skrill, WebMoney, Ukash, PerfectMoney and Liberty Reserve).

The HotForex trading conditions are fair with variable spreads starting as low as 0.2 pip and fixed spreads from 1.8 pip. Maximum leverage can be up to 1:1,000. There are many promotions for new and existing clients, including Trading Contests, Trading Rebates and a Free VPS Hosting for those depositing $5,000 or more. The welcome bonus policy is 100% and you may even withdraw your bonus after meeting the volume requirements.

HOTFOREX Review Pros:

  1. Large and Regulated broker (account segregation via Barclays and BNP Paribas)
  2. Offers many platforms including MT4, CurreneX PAMM and Social Trading
  3. FIX/API trading
  4. Tight trading spreads on CurreneX (minimum $500) and VIP Accounts
  5. Trade a wide variety of Forex pairs plus many other instruments
  6. Start trading with a few euros / dollars
  7. Supports many different fund methods
  8. 100% Welcome Bonus for all new clients
  9. Free VPS for more than $5K deposits
  10. Many Trading Contests
  11. Trading Rebates via Forex-Rebates.com (check below)

HOTFOREX Review Cons:

  1. The spreads on micro accounts are not very tight

Register an ECN Account with HOTFOREX

Starting an ECN Account with HOTFOREX

Setting up a new account with HOTFOREX is simple and requires ID or Passport, Proof of Address and a copy of your Credit Card (if used). The minimum account is just $10 and you fund your account via various methods.

HOTFOREX offers up to $6.4 Forex Trading Rebate via Forex-Rebates.com

► Register at HOTFOREX from here and claim your Trading Rebate (minimum account $10)

 

 

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HotForex Review

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