Hotforex Broker Review
PAMM and copy trading are also facilitated from the outset is something which is certain to be a welcome also to more experienced traders or those wishing to engage in copy trading. This does significantly enhance the analytics and visual environment of the platform and can be utilized to the benefit of many traders to gain a much greater insight into their trades and potential trades. FXTM. Auto, PAMM, and HFCopy accounts are also available for those with a more specific nuance in their form of trading. The broker is headquartered in St. Vincent and the Grenadines, and has an operational base in Cyprus. They have grown substantially in the 9 years since first becoming active.
Award-winning customer service and a client-focused approach to business mean that beginner traders at HotForex can rely on excellent support. Furthermore, Hotforex offers world-class educational and market analysis materials that are in-depth and well-structured to benefit traders of all experience levels. Note that while the website is fully translated into Malay, some market analysis and educational materials are only available in English. HotForex accepts all major credit and debit cards, bank wire transfers, and online money services, including Skrill, Neteller, and FasaPay. Malaysian traders can make deposits and withdrawals via local Malaysian Banks like CIMB and Maybank using online banking. Spreads on all accounts are variable, with most starting at 1 pip on the EUR/USD.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. Quick and helpful customer service but they prefer call me rather than live chat and that is what I don’t like. A very honest broker, I like trading with them and they are easy to deal with, no problems what so ever and it makes earning extra easy.
The broker is committed to keeping a good rapport with their clients. The second one is that this company has low, competitive spreads, which means that customers have high chances of getting good returns. The other one is that the company has been giving its customers attractive bonuses and promotions, unlike other companies with highly competitive spreads and little bonuses. The other one is that MT4 is available in this company, giving the traders the ability to manage more than one account simultaneously.
Mobile Trading Platforms
This bonus is available through the HF Markets SV Ltd. and HF Markets Pty Ltd. entities and provides for rebates of $2 per lot daily on trading of up to $8,000 as long as you deposit more than $250. This program is offered by the HotForex entity, and so, is not available within the EU. These can then be redeemed for prizes such as free VPS for a certain period of time, or 1-on-1 private lessons with an HotForex Market analyst. Crypto is available too with more than 7 crypto assets for trading.
– On this website, we will have a deeper look into the company. With more than 7 years of experience in trading, we know exactly how to check an online broker. In the next sections, we will show you the conditions of the broker and test the trading platform. You can find a lot of reviews of HotForex in the internet and if we focus on reliable platforms where comments are moderated , then the reviews are generally positive. The provider is recommended for no problems with the funds withdrawal, narrow spreads and good performance rate.
The website is complex, and the information seems to be overloaded with numerous facts with no authentic data to back up this information. For instance, the broker has mentioned that they have opened the live account of over 2,500,000 clients. It seems to be a fabricated number as there is no proof to back this data.
Most CFDs have no set maturity date and a CFD position matures on the date an open position is closed. Besides, free forex VPS hosting is offered to both new and existing customers who deposit a minimum of $5,000 and maintain this amount for the subsequent months. VPS hosting allows the execution of orders 24 hours, 5 days a week. The MT5, on the other hand, was intended as a multi-asset trading platform. In addition to forex, it facilitates trading in exchange-traded stocks. The platform is generally an enhanced version of the MT4, keeping most of the functionalities of its predecessor – the great charting, forex trading robots, and more.
Combined, these platforms allow you to trade at home, work, or on the move, storing data and creating graphs to help you judge the markets. Copy trading provides great opportunities for those who don’t have the time or extensive knowledge in forex trading but wish to take advantage of the market potential. Their VIP account carries a minimum deposit of $40,000 and charges a commission of $3 per $100,000 traded. They do not specify it as an ECN account and it makes no sense to deposit $40,000 into a market maker account. In addition they also offer the Currenex platform and advertise it to scalpers with a commission of $5 per $100,000 traded. Their website offers a nice design and adds to a professional feel as you brows what they have to offer.
It has got Best Online Broker Asia 2012 award from World Finance. One need only 5$ to open a micro account to start trading at HotForex. This is a Forex broker that has won numerous awards over the years for providing excellent services to its customers and adhering to set industry rules.
In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Overall, HotForex is a safe and trustworthy Forex broker that is regulated by more than three different financial regulators all over the world. On the other hand, you can always use the simulation approach by trying the HotForex Demo Account.
The Company continually identifies, assesses, and monitors each type of risk associated with its operations. Clients’ funds are received into bank accounts separate from those used by the company. These funds are off the balance sheet and cannot be used to pay back creditors in the unlikely event of the default of the Company. Here at HotForex they understand that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds.
Overall, at the moment there are more than 5 different regulations for the company. This shows us the high trust and we can see that the Forex Broker is a safe place to invest money. Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions. Certain market conditions, as hotforex open demo account the provider mentions, may make it difficult or impossible to execute the order at the stipulated price.
Hotforex Maximum Leverage
The platform provides for a good variety of charting tools and capabilities as well as the opportunity to manage your account and trading efficiently. The offering changes little based on the desktop/webtrader/mobile choice, with the same excellent, and highly customizable, powerful trading platform available to all traders. A vital cog in the wheel for any broker and trader alike are the trading platforms. With that in mind, let’s see what is on offer with HotForex in this area. These include stop losses, take profits, and limit orders, that can all be applied through your trading platform, as well as a trailing stop. All of these can both limit your exposure if the market is down, or help you cash out of a positive position in good time.