SHOULD I TRADE IN HOTFOREX BROKER?
These days you can find a lot of new brokers and it can be difficult to choose one. But, to make it easier, we just found a new broker that has a lot of new things that will help you to be better in the world of trading. Now, you may be wondering what is HotForex? Should I trade HotForex?
Should I trade HotForex?
HotForex is a broker created in 2010 that is also known as HF Market. It works with Forex.
It has a license and, it is well-regulated by regulatory bodies around the globe. It was born in Mauritius.
This broker is called a “Straight through Processing (STP) broker”, that means that ensures a fair, secure and transparent trading environment while having no conflict of interest.
Now, we will give you a few reasons why you should trade in HotForex.
In HotForex there is no problem with the access, it’s really easy to do so. You can download the MT4 platform. The good thing about HotForex is that you can use any system to work with it. If you want to access through your phone, tablet or laptop, you can do it, at any time of the day. You can find:
- iPad trader for HotForex.
- Android trader for HotForex.
- MT4 smartphone for HotForex
- MT4 terminal for PC and MAC.
It accepts debit and credit cards to trade. You can also pay with Skrill, FasaPay, Neteller, Webmoney, iDeal, or bank wire transfers.
You will have to provide personal information to be able to pay (that happens with all brokers).
You can pay with different currencies, like Dollars or Euros.
HotForex for beginners
Are you wondering if you should trade in HotForex because of your experience?
HotForex thinks about everybody, so it has support for beginners which can be found in 27 languages. Here you can find training material, like videos, free signal alerts, charting tools or daily commentary, and it works for beginners in the world of trading and beginners in HotForex.
Types of accounts
HotForex is trying to be flexible and to reach every corner. It wants to make you feel like it’s thinking about you like if it was made for you, that is why it provides multiple types of accounts:
You have a minimum deposit that is $5 to open this type of account.
HotForex Micro account will offer you 1:1000 leverage, spreads from 1 pip, and no commissions. It allows 150 maximum simultaneous orders that will let you open at any given time.
Check more detail Micro account here
Zero Spread Account
The minimum deposit is $100 for this account. This type of account is mainly for scalpers, those that prefer having a lower spread to make a profit. All the spreads are going to start from 0. The maximum leverage is 1:200 and minimum trade size is 0.01 lots. The thing is that with this account you will have to pay some smalls commissions.
Check more detail Zero Spread account here
This minimum deposit is $500. The leverage is 1:400 it works just to enable flexibility with your position size for you to get proximally 60 lots maximum trade. The spreads start from 1 pip and it doesn´t have any commission. Another important fact of this type of account is that the maximum simultaneous open orders are 300.
Check more detail Premium account here
This is the most expensive account. This one is for traders with more significant sums of money. $20,000 is the minimum deposit, and the maximum leverage is 1:300. The spreads vary from 0.2 pips, and the maximum simultaneous open orders are about 400.
Check more detail VIP account here
$500 is the minimum deposit. The maximum leverage is 1:400 and the spreads are fixed. This account is going to allow you maximum simultaneous orders which are 300. Something that is great about this one is that with the fixed spread, you will know how much the transaction costs at any time. The spread won’t increase suddenly during the news release, so you needn’t worry about it.
Check more detail Fixed account here
The minimum deposit is $500 with a maximum leverage of 1:400. The spreads will vary from 1 pip, and the maximum simultaneous open orders are 300. This account will allow you to subscribe for free and paid trading signals that are going to copy into your account.
Check more detail Auto account here
Contribution to the local communities
This is one of the few brokers that donate money to local communities and make some plans; they called themselves: Corporate Social Responsibility HotForex. Some of the things they have done are:
- Sophia Foundation for Children.
- SOS Children's Villages.
- The Rotary Club.
- Red Cross
- They have made some donations to the UNICEF too.
So, should you trade in HotForex? If you support charity, why not?
HotForex offers a specialized fixed spread account especially for automated traders and some scalpers and that connects to Interbank spread prices. The leverage in HotForex also varies by account classification; it will depend on the account that you choose to work with. For example, if you use a Micro the leverage conditions will be of 1:1000, if you use a Premium 1:400, and if you use a VIP the leverage conditions are going to be of 1:300.
The commercial tools that the HotForex broker offers to trade are:
- Exclusive HotForex
- “One-click trading”.
- Daily SMS HF.
- Access to free educational material; you can access it by getting an account.
- You can get a Demo account just to try out the world of HotForex trading.
- Economic calendar.
- Market news and analysis.
- It only uses important banks for your safety.
HotForex is now turning into a big broker; even though is relatively new, people are starting to see that is trustworthy and is a big firm. So, should I trade in HotForex? You might as well rephrase that into “Should I make money?”. If you're still skeptical, you should check out HotForex vs Exness and see how these two brokers go head to head.