HOW MUCH IS HOTFOREX MINIMUM DEPOSIT?

Apr 20, 2020
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It might be difficult for beginners or even experienced traders when choosing a broker to work with or to try out new strategies. To help you have an easier option in this problem, we will review one of the most famous brokers in the Forex market nowadays, the HotForex broker, about some of the most important factors like HotForex regulation, HotForex minimum deposit, or HotForex spread...

About HotForex

HotForex is a retail Forex brokerage, offering attractive conditions for trading in a wide range of instruments. In order to suit the needs of traders of all preferences and levels of experience, HotForex has a strong connection with liquidity providers and offers its clients a variety of account types to choose from. They use the fundamental MT4 trading platform for their operations. Plus, if you use any operating system that allows web-based, it is also a fine option. They have a very tight spreads policy to improve the rivalry with others, in addition, you can find better leverage on the HotForex website. The assistance service is also a key part to choose this brokerage since it has a nice and abundant team to serve its customers. It is right to say that they have the strongest support service in the market. “Trustworthiness, Openness, and Clarity” is a popular quote we usually see about this intermediary.

How much is HotForex minimum deposit?

Minimum deposit is the required amount of money that a trader has put in the account to start trading. Many traders want a low minimum deposit because they usually want to test the broker first. Some broker can require up to hundreds of dollars while some just need a few bucks.

HotForex minimum deposit is $5 for the Micro account, one of the lowest rates in the market. For other accounts, you can check right here:

For EU clients:

  Min. deposit Max. leverage Spread
Micro account $50 1:500 1 pip
Premium account $500 1:400 1 pip
Zero account $100 1:200 0 pip
Fixed account $500 1:400 Fixed
VIP account $20,000 1:300 0.2 pip
Auto account $500 1:400 1 pip

For clients outside EU:

  Min. deposit Max. leverage Spread
Micro account $5 1:1000 1 pip
Premium account $500 1:400 1 pip
Zero account $100 1:200 0 pip
Fixed account $500 1:400 Fixed
VIP account $20,000 1:300 0.2 pip
Auto account $500 1:400 1 pip
PAMM account $250 1:300 1 pip

Other extraordinary characteristics of Hotforex

We know the basics about HotForex, but what makes them a better choice? There are some attributes that the firm lists out for us:

  • Founded in 2010 in Mauritius by industry professionals and around 10 years of operation.
  • It is registered to the CySEC regulations and holds licenses from FSCA. Plus, there are also licenses from FCA, DFSA, and FSA.
  • Your fund is safe thanks to the segregation into a large number of accounts in various international banks.
  • Over 140 selections in 20 markets to do transactions such as CFDs, Forex pairs, energies…
  • An operating system that permits web-based or MT4 platform can be a tool to work with HotForex 
  • Many accounts for traders to choose from and they have good benefits: Premium, Auto, Micro, VIP, Fix, HFCopy;
  • There are particular accounts that have no spread like a Zero account or a “Swap-free Islamic” account. For HF Markets clients, there is also a PAMM account.
  • A lot of ways to deposit your money;
  • Up to 27 languages are provided for clients and the client support is available at every working time. 

Spreads & Leverage

Like most brokers, HotForex takes a fee from the spread, which is the difference between the buy and sell price of an instrument. The spread it offers is tight and the special fixed spread account is only available for scalpers or automated traders. Leverage differs from each account HotForex provides such as 1:500 for Micro, 1:300 for VIP and 1:400 for Premium. However, EU traders have the highest leverage rate of 1:30.

Deposits and Withdrawals

Don’t worry if you don’t know how to deposit your fund since HotForex supports all debit cards and major currency through services: Neteller, FasaPay, Mybitwallet… Same as all international brokerages, you are required to submit legally mandated information whenever you want to take your money back. 

Beginner Support

HotForex supports a wide range of languages and support options for its customers. Up to 27 languages can be supported and if you have any problem, feel free to contact them whenever it occurs in trading days. Phone, email, and chat are usually used to help clients. Moreover, there are many educational posts for you to do research and study the market.

Conclusion

We must admit that HotForex deserves to be a top tier broker in the trading Forex. After almost 10 years of activity, it has claimed customer’s trust thanks to many factors. There are the MT4 trading platform that suits any operating system, good trading costs, low HotForex minimum deposit, rival leverage and spreads, and significant customer support. For those reasons, we recommend you to choose HotForex to cooperate with.