Honesty – Openness – Transparency
HotForex is a well-established financial entity that has been in the industry for more than a decade. Belonging to the first tier of online trade brokers, it enjoys international trust with more than 2.5mln live accounts opened till now.
Its’ staff consists of more than 200 employees who are happy to assist traders 24/7 in almost 30 languages. A broad range of market research tools, trading instruments, and conditions puts it in a very competitive position.
Specifically, leverage such as 1:1000, 1200+ instruments to choose, bonuses up to 100%, and spreads as low as zero are the web-page’s front-line that welcomes traders to enter the market with a strong footing.
Finally, HotForex frequently participates in social and sports events such as Formula Renault 3.5 or Porsche Carrera Cup UK. Among its current sponsorships, it boasts a partnership with Paris Saint-Germain Football Club that eventually gains more international trust and respect to this broker.
Bonus offerings are one of the features that make HotForex stand out from the line of its competitors.
- 100% Supercharged Bonus is what traders have on every deposit of more than 250USD. Also, it provides a two-dollar-per-lot cash rebate to the trader’s account.
- 100% Credit Bonus grants a higher leverage and a flexible deadline to meet volume requirements. Also, if the latter is completed, the bonus can be withdrawn.
- Return On Free Margin: a cashback-like program based on daily free margin and accumulated monthly trade volume.
- 30% Rescue Bonus applies to deposits over $50 and increases account leverage.
- 50% Welcome Bonus can boost trader’s initial deposit of at least $50, giving them more trading power.
Finally, HotForex offers four levels of the rewards loyalty program. Registering to each after meeting the qualification requirements and earning HotForex Bars, traders can access a range of useful perks like VPS, private sessions with market analysts, Autochartist subscriptions, or convert the earned HotForex Bars into cash.
Trading and platforms
HotForex offers a branded MetaTrader as the trading terminal in desktop, web, and mobile versions. The latter support iOS and Android and are available in AppStore and GooglePlay correspondingly.
On top of that, HotForex offers traders both MT4 and MT5. That is due to the fact that although MT5 offers more timeframes, indicators, tools, speeds, and generally more of everything, many traders tend to stay with MT4 because they know it and like it.
Therefore, to please both camps, HotForex included MetaTrader 5 in the list, complementing it with the FIX/API availability.
With HotForex, traders can access more than 1200 trading instruments, including Forex, energies, indices, commodities, ETFs, metals, stocks, and bonds.
Apart from PAMM and HFcopy, there are four account types, including Mirco, with the minimum deposit of $5, and Zero Spread, with more than 500 orders possible to be opened simultaneously. Islamic account option is offered, too.
Deposits and withdrawals include many payment methods such as bank and credit/debit card transfers, FasaPay, Neteller, PerfectMoney, Load, WebMoney, and Bitpay.
With regards to the trading instruments, there is one market sector that makes HotForex stand out from the line of its competitors – metals, and above all, gold.
Being very upfront, HotForex offers the most favorable conditions for trading gold. That is a crucial initiative because the shining metal is one of the primary assets preferred by traders of all levels of expertise and background.
Not only gold is a traditional safe-haven asset that helps traders hedge from market fluctuation and inflation, but HotForex offers a leverage of up to 1:200, considerably low spreads, and an opportunity to trade it against both the USD and EUR for maximum efficiency.
Investments and CopyTrading
HotForex offers two types of investment programs: HFcopy and PAMMs.
HFcopy is essentially CopyTrading where anyone can join as a follower or as a strategy provider.
As followers, traders choose from the list of strategy providers and link their accounts to theirs so that the performance of the latter gets copied and translated into the accounts of the former.
As strategy providers, traders can prove their skill, sharing superior trading techniques and earn performance fees once other traders start following them – as long as they don’t fail on performance.
PAMM is an opportunity to invest your money into one of the funds managed by fund managers.
As long as the growth dynamic is positive, investors will see an increased value of their investment, and the fund managers will receive a success fee.
Similar to HFcopy, any trader may choose the other side and become a fund manager, too – meeting specific requirements to prove they are eligible to become one.
Education and market research
HotForex offers a comprehensive educational base that includes trading courses, video tutorials, explanatory materials on market mechanics, webinars, podcasts, and other helpful information.
In addition, traders have a line of analytical tools at their service, such as market news, economic calendar, and a recently introduced automated Advanced Insights engine that analyzes market sentiment and volatility based on AI and big data.
HotForex may be an excellent choice for traders who want to have a very supportive bonus program and access to an extensive choice of trading instruments. With the decade-long experience of this broker and the international trust it enjoys, there is all likelihood that trading with HotForex may turn out to be a very positive experience.
HotForex offers a wide choice of trade instruments, educational base, and all the tools to make trading more effective. However, the results of each trader’s activity depend on individual trade strategy, experience, and global market conditions.
HotForex overall scores
In this review, you can find all the information you need to decide whether HotForex is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how HotForex scored in each of our high-priority categories
HotForex fees and commissions
HotForex does not charge for deposits and withdrawals.