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Forex Broker Review: HotForex

HotForex ReviewHotForex ReviewHotForex Rating Review

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HOTFOREX GENERAL INFORMATION

Found: HotForex was found in 2007

Headquarters: HotForex maintains main offices in Cyprus

US Residents: HotForex forbids traders from US –NO

Islamic Accounts: HotForex supports Islamic Accounts –YES-

Regulated: HotForex is regulated by CySEC (183/12). It is also registered with FCA (UK), CONSOB (Italy), ACP (France), CNMV (Spain), AFM (Netherlands).

Web-Site Languages: English, Spanish, Chinese, German, Greek, Arabic, Hindi, Japanese, Korean, Persian, Russian, Bulgarian and Thai

Customer Support: 24/5 (Language Support: English, German, Arabic, Chinese, Spanish, Greek, Hindi, Japanese, Korean, Persian, Russian)

PAMM 250

HOTFOREX TRADING INFO SUMMARY

HotForex Trading Platform■ Broker Type: STP / ECN

■ CFD Trading: YES

Platforms: MT4, MT4 Multi-Terminal, Web-Trader and FIX/API platform

Trading Time Zone: GMT

■ Demo Account: HotForex is providing a Demo Account –YES

■ Spread on EUR/USD: HotForex offers a fixed spread on EUR/USD at 1.8 pip

■ Leverage: Leverage at HotForex up to 1:1000

Scalping: is allowed at HotForex –YES-

■ Bonus: HotForex offers Bonus up to 100%

■ Minimum Account$5

Visit HotForex (Free VPS Hosting for all Clients holding more than $5K)

TRADING ASSETS 

HotForex is providing Forex and CFD trading.

■ 43 Forex Currencies

■ 5 Commodities

■ 12 World Indices

■ 36 Stocks

FOREX

INDICES

SHARES

Forex Pairs

Typical Spread

INDEX

Typical Spread

SHARE

Spread

Commission

AUDCAD

2.3

CAC40

1

Alcoa

0.04

0.10%

AUDCHF

2.4

DAX30

1

American Express

0.04

0.10%

AUDJPY

2.2

USA30

4

BANK OF AMERICA

0.04

0.10%

AUDNZD

3.2

FTSE100

1

Boeing Co

0.04

0.10%

AUDUSD

1.7

HKO43

15

Chevron Corp

0.04

0.10%

CADJPY

2.3

SPA35

10

Coca Cola Inc.

0.04

0.10%

CHFJPY

2.3

USA100

2

General Electric

0.04

0.10%

EURAUD

1.9

USA500

0.5

Goldman Sachs

0.04

0.10%

EURCAD

2.4

ITA40

10 .0

IBM

0.04

0.10%

EURCHF

2.4

SWE30

0.5

McDonalds

0.04

0.10%

EURDKK

3.4

SUI30

4

Pfizer

0.04

0.10%

EURGBP

1.7

   

MasterCard

0.04

0.10%

EURHUF

24

   

NASDAQ

0.04

0.10%

EURJPY

1.9

   

Amazon

0.04

0.10%

EURNZD

5

   

APPLE

0.04

0.10%

EURPLN

20

   

Cisco Systems

0.04

0.10%

EURUSD

1.6

   

Dell

0.04

0.10%

EURRON

80

   

eBay

0.04

0.10%

GBPAUD

2.8

   

Google

0.04

0.10%

GBPCAD

3

   

Intel

0.04

0.10%

GBPCHF

3.1

   

Microsoft

0.04

0.10%

GBPJPY

3.6

   

Qualcomm Inc.

0.04

0.10%

GBPNZD

7

   

Teva Pharmaceutical Ind

0.04

0.10%

GBPUSD

2.5

   

Illumina Inc

0.04

0.10%

NZDJPY

3

   

FaceBook Inc

0.04

0.10%

NZDUSD

2.4

   

Vodafone

0.04

0.10%

NZDCHF

8

   

Anglo American

0.04

0.10%

NZDCAD

6

   

Barclays

0.04

0.10%

USDCAD

1.9

   

BP Plc

0.04

0.10%

USDCHF

1.9

   

British Airways

0.04

0.10%

USDDKK

5

   

HSBC Holdings

0.04

0.10%

USDHKD

4

   

Lloyds TSB Group Plc.

0.04

0.10%

USDHUF

20

   

Rio Tinto Group

0.04

0.10%

USDJPY

1.7

   

Royal Bank Of Scotland Group Plc.

0.04

0.10%

USDNOK

30

   

Tesco Plc

0.04

0.10%

USDPLN

40

         

USDSGD

3.1

         

USDTRY

5

         

USDZAR

40

         

USDRON

70

         

ZARJPY

2

         

USDSEK

4.5

         

SPREADS, COMMISSIONS & LEVERAGE

HOTFOREX TRADING SPREADS & COMMISSIONS

■ HotForex Minimum Spread is 1 pip.

■ HotForex Spread on EUR/USD is 1.8 pip fixed.

■ Trading Commissions are charged on three types of accounts (VIP, Zulu and Currenex). More information about the HotForex account types are presented below.

HOTFOREX TRADING LEVERAGE

■ Leverage at HotForex can be up to 1:1000

TRADING PLATFORM & MOBILE

HOTFOREX TRADING PLATFORMS

HotForex is offering a fair variety of Trading Platforms.

Online Platforms include:

MT4

MT4 Multi-Terminal

Web-Trader, and

FIX/API platform

-Demo account is available at HotForex.

-Automated Trading is supported and Forex Signals from Zulu and Currenex.

-Scalping / Hedging are allowed at HotForex

 

Trading Features include:

■ Free VPS Hosting (more information below)

■ One Click Trading

■ Trading Central Analysis.

HOTFOREX FREE VPS SERVER

HotForex is now providing a free VPS hosting service for all customers who deposit $5,000 or more and keep this amount for the subsequent months. The VPS server provides 24/5 order execution.

HotForex Free VPS Features

1) Compatible with all popular Expert Advisors

2) Trading many different types of assets including Forex, Commodities, Stocks and Indices

3) HD space 2GB, CPU 1.5GHZ and RAM 0.5GB

4) Bandwidth unlimited

5) Available 24/5

There is also an Advanced VPS Service for 50 USD per month.

HOTFOREX MOBILE TRADING

HotForex supports iPhone, iPad, BlackBerry and Android mobile devices.

NEW ACCOUNT INFORMATION

Account Types

Micro

Premium

VIP

FIX

Currenex

Zulu

Spreads from (pips)

1

1

0.4

Fixed

0.4

1

Trading Platform

MetaTrader 4, Mobile Trader

MetaTrader 4, Mobile Trader

MetaTrader 4, Mobile Trader

MetaTrader 4, Mobile Trader

MetaTrader 4, Mobile Trader

MetaTrader 4, Mobile Trader

Maximum Leverage

1/1000

1/400

1/300

1/400

1/400

1/300

Minimum Deposit (USD)

50

500

40000

500

500

50

Minimum Trade Size (lots)

0.01

0.01

0.5

0.01

0.01

0.01

Trade Size Increment

0.01

0.01

0.01

0.01

0.01

0.01

Maximum Total Trade Size (lots)

5

60

No Limit

60

60

60

Max. Simultaneous Open Orders

150

300

400

300

350

300

Margin Call

0.4

0.5

0.5

0.5

0.5

0.5

Stop Out Level

0.1

0.2

0.2

0.2

0.2

0.2

Personal Account Manager

NO

YES

YES

YES

YES

NO

Telephone Trading

YES

YES

YES

YES

YES

YES

Account Currency

USD,EUR

USD,EUR

USD,EUR

USD,EUR

USD,EUR

USD,EUR

Commissions

NO

NO

YES

NO

YES

YES

Flexible Bonus Offerings

YES

YES

NO

YES

YES

NO

Personalised Service

NO

NO

YES

NO

NO

NO

HOTFOREX FUND METHODS

HotForex Minimum Account:

The minimum initial deposit required for opening an account on HotForex is just 5 USD.

HotForex Main Deposit Methods:

■ Bank Wire Transfer

■ Web Money

■ Credit Cards

■ MoneyBookers

■ Neteller

HotForex Main Withdrawal Methods:

■ Bank Wire Transfer

■ Web Money

■ Credit Cards

■ MoneyBookers

■ Neteller

BONUS & REBATES

HotForex offers Bonuses up to 100%

CONTACT INFORMATION

HotForex Headquarters:

HF Markets Europe Ltd

Spirou Kyprianou 50 -Irida 3 Tower

Larnaca 6057, Cyprus

Phone Support:

Customer Support: +357-24-400561

Fax: +357-24-023093

Sales Department: +357-24-020082

International Phone Support:

China: 4001-200742

United Kingdom: +44-2033185978

Germany: 0800-182-2677

Brazil: +55-2139581441

Sweden: +46-852500680

Spain: +34-931845604

Russia: +8-800-100-6322

Thailand: 001-800-13-203-9978

Norway: +47-21037281

Taiwan: 00801-14-8970

HOTFOREX PROS AND CONS (According to competition)

HOTFOREX REVIEW PROS & CONS

HOTFOREX PROS

HOTFOREX CONS

√ Good variety of Trading Options (Asset Index, Trading Platforms etc)

√ Trader’s Education (Video Tutorials and eCourses)

√ Interesting extra Features such is Trading Central Analysis

√ Regulated Forex Broker

√ Many Fund Methods and just $5 minimum account

√ Automated Trading and free VPS for deposits more than 5,000USD

√ FIX/API Trading

√ PAMM Accounts

√ 100% Deposit Bonus

X Trading Commissions are charged on some account types (see above)

 

HotForex Conclusions:

HotForex is a regulated Forex Broker providing more than decent conditions when trading Forex. They offer a wide asset index containing 43 Forex currencies and CFD Trading (commodities, indices and a great variety of world stocks). Their platforms include the popular MT4 plus a multi-terminal MT4 version. Additionally, they offer a simple Web-Trader and FIX/API trader. Forex trading signals are supported using Currenex and ZuluTrade. HotForex provides its clients with free education, plus for those that depositing 5,000 USD or more they offer a Free VPS Hosting Service (ideal for scalpers). Their trading spreads are average compared to ECN Forex Brokers while they charge commissions on some types of accounts. HotForex supports most fund methods and they keep a very low minimum deposit requirement. Accounts may be opened in EUR and USD while the Deposit Bonus Policy is at 100%. In overall HotForex can be seen as a good and reliable brokerage choice when trading Forex and CFDs.

Visit HotForex

 


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