9 /10
Overall Rating

HotForex Review

Read this HotForex broker review before opening your account. Is this a Reliable Forex Broker? Find out more with our AtoZ Markets Forex broker review of HotForex. 

HotForex has a wide range of tradable assets including forex, metals, indices, stocks, bonds, energies, commodities and cryptocurrencies, which make it an excellent option for traders who want to diversify their portfolio using a single platform. Moreover, it provides enormous numbers of trading tools and materials for both new and experienced traders.

We have done an extensive review of the company and found it legit and recommendable. This broker provides maximum flexibility on deposit requirements for all traders.

At AtoZMarkets.com, we have a readers-first policy. Thus, we always put our readers’ safety as a priority in our business line. We will never satisfy ourselves with Brokers’ public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly.

For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this HotForex broker review. Please go through this article on how we conduct our broker reviews.

Disclaimer: The products and services mentioned herein are applicable only for clients that are registered under HF Markets (SV) Ltd. Available products differ for clients registered under the other entities of HF Markets Group.

Overview

Company
9 /10
Trust
9 /10
Trading Platform
9 /10
Account Types
9 /10
Cyptocurrency
8 /10
Costs
8 /10
Customer Support
8 /10
Regulation
9 /10

Company

9 /10

HotForex is a forex and commodities broker that provides trading services to both retail and institutional clients. The main policy of this broker is to prove the best trading conditions to its clients by allowing all types of traders to have unrestricted access to its liquidity. HotForex and HF Markets are unified brand names of the HF Markets Group:

  • HF Markets (SV) Ltd incorporated in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
  • HF Markets (DIFC) Ltd is authorised and regulated by the Dubai Financial Services Authority (DFSA) under license number F004885.
  • HF Markets (UK) Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.
  • HF Markets (Europe) Ltd a Cypriot Investment Firm (CIF) under number HE 277582. Regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 183/12.
  • HF Markets Ltd regulated by the Financial Services Commission (FSC) of the Republic of Mauritius, category 1 Global Business No. C110008214 License | Company Reg. No. 094286/GBL.
  • HF Markets SA (PTY) Ltd is an authorised Financial Service Provider from the Financial Sector Conduct Authority (FSCA) in South Africa, with authorisation number 46632.
  • HF Markets (Seychelles) Ltd is regulated by the Seychelles Financial Services Authority (FSA) with Securities Dealer's License number SD015.

HotForex is an international broker, with over 2,000,000 accounts globally. In addition to that, this broker has won more than 35 international awards. Traders can contact HotForex with over 27 different languages where they have more than 200 employees working globally. Besides the trading offerings, HotForex has a multi-tier affiliate program, which contains up to 5 tiers of sub affiliate levels and revenue share commission of 60%.

Pros & Cons

Pros

  • Wide range of trading instruments.
  • Spreads are highly competitive.
  • Extensively regulated from multiple regulators.
  • Extensive trading tools, including daily analysis, auto-trading, and VPS services.
  • Best broker for traders who want to diversify their portfolio.

Cons

  • No Bonus programs for EU clients
  • Only 7 Cryptocurrency Pairs and No ETFs

Trust

9 /10

HotForex provides the security of negative balance protection, which means that no clients are responsible for paying back a negative balance.

HotForex keeps clients funds into the bank account, which is separate from the brokers day to day activity. Therefore, clients' funds are off the balance sheet, and HotForex cannot use these to pay back creditors in any uncertain condition.

The company also provides a civil Liability insurance program for a limit of €5,000,000 to its clients and other third parties. This insurance program includes market-leading coverage against any type of error, negligence, omissions, and fraud that may lead to financial loss.

Trading Platform

9 /10

HotForex provides the standard MT4 and advanced MT5 trading platforms with full features. 

HotForex MetaTrader 4

HotForex offers the below-mentioned features for its traders:

  • Available in Single and Multiterminal 
  • Built-in tick chart features 
  • Supports Automated trading
  • Wide range of free and paid indicators and expert advisors
  • Supports custom indicators and EAs
  • one-click trading.
  • Trailing stop loss.
  • Available in windows, Mac, Android & iOS

HotForex MetaTrader 5

HotForex offers the below-mentioned features for its traders:

  • 21 available time frame.
  • 44 suites of graphic objects
  • Supports Automated trading
  • Real volume data is available.
  • Full access to the account and order history
  • Complete control of trades at all times

Web-Trader

Besides MT4 and MT5, traders can access and perform trading activities by logging their MT4, and MT5 accounts from any website enabled device.

Account Types

9 /10

There are several types of accounts in HotForex. The types of accounts in this broker may suit all levels of traders.

#1 Micro Account

If you're new to forex trading, you may open an account in the HotForex Micro account. With a minimum deposit of $5, you can have the maximum leverage of 1:1000. Other features are mentioned below:

Execution: Market Execution

Minimum trade size: 0.01 Lot

Maximum Total Trade Size: 7 Standard lots

Margin Call / Stop out level : 40% / 10%

Commission: No

#2 Premium Account

If you have a little experience in forex trading, the Premium account is a better option for you. By depositing a minimum of $100, you can open larger positions with a maximum leverage of 1: 500. Other features are mentioned below:

Execution: Market Execution

Minimum trade size: 0.01 Lot

Maximum Total Trade Size: 60 Standard lots

Margin Call / Stop out level : 50% / 20%

Commission: No

#3 Zero Spread Account

This account is suitable for scalpers who do not want to hold positions for a longer period of time. The Zero Spread account offers a tight spread with no mark-ups. The minimum deposit is $200, and the maximum leverage is 1:500. Other features are mentioned below:

Execution: Market Execution

Minimum trade size: 0.01 Lot

Maximum Total Trade Size: 60 Standard lots

Margin Call / Stop out level : 50% / 20%

Commission: yes

#4 Auto Account

The Auto Account is very easy to operate. New traders can have the opportunity to subscribe to free and paid Trading Signals from the MQL5 Community. This account will be built-in to the HotForex MT4 trading terminal with the MQL5 signals to copy signals. Other features are mentioned below:

Execution: Market Execution

Minimum trade size: 0.01 Lot

Maximum Total Trade Size: 60 Standard lots

Margin Call / Stop out level : 50% / 20%

Commission: No

#5 HFcopy Account

The HFcopy platform of HotForex is an in-house built copy trading platform with extensive features. Both Strategy Providers (SPs) and Followers can use the HF Copy account to their benefit. As per our research, we found out that the HFcopy platform has more than 800 strategy providers, which traders can follow and copy their trades.

Besides these accounts, HotForex have PAMM and Islamic accounts. As for PAMM Managers, they can open a Premium or Premium Plus Account with HotForex. 

Cryptocurrency

8 /10

There are seven most traded cryptocurrencies including Litecoin in the HotForex platform. Traders can trade the cryptocurrency in 24/5 through this broker. Therefore, the commission charged 1 USD per lot in Cryptocurrency trading.

Costs

8 /10

HotForex has both commission-based and commission-free accounts and floating spreads that change from time to time. Besides these, there are no deposit and withdrawal fees in the broker except the inactivity fee. HotForex charge an inactivity fee if any client keeps the account unused for more than six months.

Customer Support

8 /10

As an international broker, HotForex has good customer support compared to the industry average. There are a lot of support channels and their staff respond quickly and are very knowledgeable. 

You can contact them via live chat, which is available 24/5 in multiple languages. They also have options for phone and email support in more than nine languages.

Regulation

9 /10

HotForex is regulated in many countries, including Cyprus, the UK, Dubai and South Africa.

HotForex and HF Markets are brand names of the HotForex Group. The details of the regulation are mentioned below:

  • HotForex (SV) Ltd formed in St. Vincent & the Grenadine with registration number 22747 IBC 2015.
  • HotForex (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.
  • HotForex (DIFC) Ltd is authorized and regulated by the Dubai Financial Services Authority (DFSA) under license number F004885.
  • HotForex Ltd regulated by the Financial Services Commission (FSC) of the Republic of Mauritius, category 1 Global Business No. C110008214 License | Company Reg. No. 094286/GBL.
  • HotForex SA (PTY) Ltd is an authorized Financial Service Provider from the Financial Sector Conduct Authority (FSCA) in South Africa, with authorization number 46632.
  • HotForex (Europe) Ltd is a Cypriot Investment Firm (CIF) under number HE 277582. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 183/12.
  • HotForex (Seychelles) Ltd is regulated by the Seychelles Financial Services Authority (FSA) with Securities Dealer's License number SD015.

Conclusion

The trading arena of HotForex is highly comprehensive. 

Whether you're just new or an experienced trader, our HotForex review finds that this broker is excellent and trustable. They go the extra mile to offer a great experience.

 

There is a wide range of account types with low minimum deposits to get comfortable with trading conditions. There are a number of tools that can make you the best trader.

Moreover, the leverage of the broker is up to 1:1000. With fast withdrawals and 24/5 customer support across live chat, phone, and email. You can consider HFMarkets if you are looking for a well-known, experienced and potential brokerage.

Reviewed By

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