Sep 26 2019 4
BRKV - It is never an easy job for traders to select a nice broker to work with because it has a significant impact on their trading success. In order to help you save your precious time but still have a good result while finding a brokerage, we will review HotForex broker (especially HotForex withdrawal system) in this article, one of the top tier brokerage in the Forex world.
Full HotForex reviews here.
The conditions for HotForex withdrawal
Withdrawals are available from myWallet only. To withdraw funds from your trading account, you can proceed with an Internal Transfer to myWallet. Go to Hotforex.com/deposit-withdraw/withdrawal-options HotForex will not be responsible for any errors made by the account holder. In order to complete the withdrawal request, you must fill out all fields just like the picture below.
Then, pay attention to each HotForex withdrawal option's condition as below:
|Withdrawal options||Accepted currency||Minimum amount||Fees||Time|
|VISA||USD, EUR||$5||None||2 - 10 days|
|MasterCard||USD, EUR||$5||None||2 - 10 days|
|Maestro||USD, EUR||$5||None||2 - 10 days|
|American Express||USD, EUR||$5||None||2 - 10 days|
|HF MasterCard||USD, EUR||$5||None||Instantly|
|Bank Transfer||Any||$150||Depends||2 - 10 days|
- In the first 6 months, you have to withdrawal the same way you deposit. If you deposit via your VISA card, you have to withdraw money back to that VISA card. If you use multiple deposit methods, the amount you can withdraw is based on the ratio between the amounts you deposited. For example, if you deposit $50 via VISA and $100 via Skrill, you can withdraw only a third of your balance to your VISA card. The rest has to be withdrawn to your Skrill account.
- The fees charged for your withdrawal are regulated by the payment gateway vendor. None of that money will be transfered to HotForex.
- You have to indentify your information if you want to make withdrawals.
HotForex is a Forex trading services broker that has aligned with many liquidity providers to accommodate any kind of trader. They give access to a wide variety of instruments like currencies, indices… The famous MT4 trading platform is used in their services, you can download it to do your trades or you can try any operating system that enables web-based to work. The company’s spreads are very tight, and it is a rule to attract more clients, furthermore, you can look for higher leverage compare to other intermediaries, applied to all accounts from HotForex Micro account to HotForex VIP account. One important thing to take note is that HotForex has very special customer service. The support team can work in many languages and there is always staffs to help you. We must admit that this is one of the most significant client support brokerage.
Exclusive Features of Trading with HotForex
The reason we should collaborate with HotForex lies on their unique traits that we have listed below for you:
- Having been formed in 2010 in Mauritius, HotForex has undergone about 10 years of operation.
- The CySEC regulations and FSCA licenses are applied to HotForex. Plus, it is regulated by DFSA, FCA, and FSA.
- Many accounts in global banks will hold your money if you work with HotForex. So, safety is guaranteed.
- With over 140 asset selections in 20 markets to choose from: metals, energies, CFDs or dealing Forex pairs.
- Access to the MT4 platform through any operating system with web-based support.
- A great amount of accounts gives out advantages for traders: Auto, HFCopy, Premium, Micro, Fix, and VIP.
- Several accounts with special zero spread for special requirements: Zero accounts and “Swap-free Islamic” account. Besides, HL Markets client has a unique PAMM account.
- A bunch of deposit/withdrawal methods is assisted.
- HotForex support service works 24 hours every trading day and they can use 27 languages.
HotForex Spreads & Leverage
Spreads of HotForex is tight compared to other intermediaries in the Forex world. It also provides the fixed spread account for automated traders and scalpers which has the spread just the same as the spread of Interbank. The leverage is another thing to take into account. It depends on what account you are using. For instance, the rate of Micro account is 1:500, 1:400 for Premium and 1:300 for VIP. Traders in the EU region have the biggest leverage at 1:30.
HotForex Premium Trader features
Here are some exclusive trading features that you can only find on HotForex platform:
- TRADE TERMINAL: Professional trading matching and analysis tool.
- MINI TERMINAL: designed for traders who want to focus on a specific market which will display profit-taking orders in pips, calculate the size of trading lots compared to a certain amount, in addition Mini Terminal allows you to place orders quickly through the small windows below, without necessarily opening the trading terminal.
- CONNECT: It provides message boards and calendar of economic events and information related to deposit, training materials, or webinar registration provided by HotForex.
- SENTIMENT TRADER: Market sentiment data taken directly from FX Blue Labs helps traders see how many people are trading a currency pair.
- SESSION MAP: Gives you a quick overview of the market through time zones, and also displays an overview of price movements during the current or previous session.
- ALARM MANAGER: A personal trading assistant that informs you of various information from account issues, prices, trading psychology to technical indicators ...
- EXCEL RTD: Put real-time account, coupon and price data into Excel.
- MARKET MANAGER: Provides full control of the logo tracking list and all account and order activity; All this information is provided through a very compact window but can summarize the entire price movement.
- CORRELATION MATRIX (Correlation matrix): Provides market information across different time periods, helping to determine the strong or weak low or highest correlation quickly.
- CORRELATION TRADER: Allows correlation between two symbols, two price charts when placed side by side, along with the current open position and profit for each symbol.
- TICK CHART TRADER: Displays a variety of stick chart types updated as the selling or buying prices change. The tool also allows super-fast entry using single clicks or keyboard shortcuts.
Experienced client support can help you out with up to 27 languages and it is available 24 hours all trading days through email, Skype, phone or live chat. The site is created to bring you many educational materials so that you can learn more about the Forex market and actually begin your career.
For the past few years, HotForex has become one of the best Forex brokers and it is agreed by many traders. It is because of the competing spreads and leverage, dealing platform for all operating systems, adaptive fees for EA enthusiasts and scalpers, and very good client support team. Therefore, we believe HotForex can meet all your demands and help you in your trading Forex road.