|Regulated:||CySEC and FSC|
|Min Trade Amount:||0.01 Lots|
|Bonus:||100% Welcome Bonus|
|Free Demo Account:|
|Trading Platform:||MT4, Web-Based and Mobile Trading|
|GTD Stop Loss:|
|Credit Card||8-10%||3-4 days|
|Debit card||1-5%||4-5 days|
|Fast Bank Transfer||1.5%||2-3 days|
Hotforex is a forex brokerage brand operating out of Mauritius and Europe. Headquartered in Cyprus, the broker is fully authorized and regulated by the Financial Service Commission (FSC) of Mauritius with license number C110008214 and Cyprus Securities and Exchange Commission (CySEC) under license number 183/12. The parent company is HF Markets (SV) Ltd which is incorporated in St. Vincent & the Grenadine as an International Broker Company with the registration number 22747 IBC 2015.
Offers and Promotions
There is a 100% welcome bonus given to traders who are funding their accounts for the first time. The bonus can only be withdrawn on fulfillment of certain trade volume requirements.
In addition, the following trade contests are featured on Hotforex:
– The Rolex Time Trader Contest, which gives away a Rolex Oyster Perpetual Mariner wristwatch valued at $10,000, and cash prizes worth $3000 to the winner and the 2nd to 4th placed contestants respectively.
– The Hotforex 2017 VIP contest will feature prizes of an all-expenses paid trip to meet with Hotforex brokers at their corporate headquarters.
– There is also a demo trading contest, with prize money allocated to the real accounts of participants on Hotforex.
– The 2017 Traders Awards which will feature the presentation of an award plaque and $1000 to the Hotforex Top Trader.
– Numerous prizes for top affiliates and the top participants in the Refer-a-Friend programs.
Trading Platform Features
The following trading platforms are provided by Hotforex to their traders:
a) Hotforex MT4 platform: This is the desktop client for PC and Mac users.
b) MT4 Multiterminal: for account managers and traders who trade multiple accounts.
c) Hotforex Smartphone apps for the iOS platform (Hotforex iPhone and iPad trader), Android (Hotforex Droid), BlackBerry (Blackberry Trader).
d) Hotforex WebTrader: This is the web-based platform that enables traders connect to the Hotforex trading portal using a URL.
Account Types and Information
- Micro Account: This account is designed for traders who are just entering the market. It permits them to open accounts with as low as $5, and with a minimum trade size of 1 micro lot. Learn more about micro accounts here.
- Premium Account: This account is specially built for retail traders with some degree of market experience. The minimum trade size is 1 micro lot. However, traders who wish to trade with a Premium Account must have ready $500 as minimum account opening balance.
- VIP Account: The VIP account is for those traders who can muster up to $20,000 as minimum deposit. There are various benefits attached to VIP account holders, many of them personalized. In addition, a personal account manager is assigned to such traders. Minimum trade size is 1 mini lot.
- FIX Account: In addition to having a personalized account manager, a FIX account holder can trade forex with fixed spreads. Minimum deposit is $500.
- Islamic Account: There are no swaps with the Islamic account, which also has two sub-types that mirror the features of regular Standard and Micro accounts. Minimum deposit is $150.
- Currenex Account: This is an account for experienced retail traders. It features raw spreads that can be used for scalping. It is available for a minimum deposit of $500 and trade size starts at 1 micro lot.
- PAMM Account: Traders who are unwilling to trade for themselves but would like to use the services of a successful trader can have a managed account portfolio with the PAMM account.
- Zero Account: This is a zero-spread account. Zero account can be opened with a minimum deposit of $100. Maximum available leverage for zero accounts is 1:200. 500 orders or 60 standard lots can be opened simultaneously in this type of account.
- Auto Account: In auto account, spreads start from 1 pip. Maximum available leverage is 1:400. Auto account holders can hold 300 positions simultaneously. Minimum deposit is $500
Apart from a Forex VPS hosting service and a few educational tools, HotForex clients are also eligible to receive a master card. The card can be used for fast withdrawal of funds as well as online shopping.
Deposits and Withdrawals
The following means of transaction are used for fund deposits and withdrawals on Hotforex:
a) Credit cards: VISA, VISA Electron and MasterCard are the accepted card brands for fund deposits and withdrawals. Funding limits of $7,500 per transaction and $10,000 for the VISA cards apply.
b) Bank wire: There are no limits to the amount that can withdrawn. However, withdrawals below $250 are not allowed. Funding attracts minimum deposit of $100.
The minimum deposit amount depends on the means of transaction and the account type.
Customer support on Hotforex is available 24 hours a day, five trading days a week through the following channels:
a) Live Chat: Talk to our Support Staff
b) Tel: +44-2033185978
c) Email: [email protected]
d) Social media (Facebook and Twitter)