Detailed review on the broker HotForex
Logo betterworldbroker.com
Detailed review on the broker HotForex

Review HotForex

8,8 / 10

HotForex, also known as HF Markets, is an excellent Forex and CFD Broker for trading in the market, this Broker is regulated by many competent authorities around the world, so the transparency and security of its services is fully guaranteed.

All trading involves risk. Only risk capital you’re prepared to lose.
Review HotForex
All content on name-of-the-site.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

What is HotForex

HotForex, also known as HF Markets, is an excellent Forex and CFD Broker for trading in the market, this Broker is regulated by many competent authorities around the world, so the transparency and security of its services is fully guaranteed. 

HF Markets is undoubtedly a benchmark in this area of the market, because its quality is very high, and in addition, the investment instruments are very diverse, as well as its trading platforms, in this aspect, besides its security, this also makes it an ideal Broker for trading.

Brief company history

HotForex was founded, established and launched in 2010 - about 10 years of experience in the market. The broker is available in over 180 countries, including countries such as Africa, Asia, Europe and Latin America. However, HotForex is not available in the United States, the Syrian Arab Republic, North Korea, Canada and Sudan.

About HotForex
About HotForex

Terms of use of the platform

Before starting trading on HotForex platform, you have to fully examine and accept the term of use and policy on the platform website. The Affiliates Agreement includes terms and condition of the platform usage. You can find in there the following information:

  • User guidelines (your rules and restrictions on use)
  • Partners program
  • Prohibited trading
  • Payment and withdrawal terms
  • How users can terminate accounts.
  • Privacy and users’ information usage policy
  • Limitation of liability.
  • Governing law and legal disputes.
  • Contact information.

And other important regulations. You can find this document on the following link.

A description of the core functionality

HotForex offers 6 main types of trading accounts. They are: Micro, Premium, Zero Spread, Auto, PAMM (Premium) and HFcopy accounts. 

Each account type, except Zero Spread, offers commission-free trading for currency pairs with spreads from 1 pip. The Zero Spread account is based on commission, but with spreads from 0 pips on forex. HFcopy is a copy trading account with 3 main account types - Premium, Zero Spread and Premium pro.

At HotForex, prices vary greatly depending on the type of account. You may find that the Zero Spread account has lower trading costs than the Premium account. But, the margin requirements for a Zero Spread account may be twice as high as for a Premium account. At best, the HotForex price is slightly better than the industry standard.

Different accounts are available under different regulatory entities. Some accounts are only available under certain regulations and not others.

HotForex does not offer all 6 types of accounts. Users can also access demo accounts or Islamic accounts without swaps. Beginners to practice Forex trading in real market conditions without risking real money can use demo accounts.

HotForex gives users access to over 150 trading instruments. They are spread across more than 49 Forex pairs, more than 104 CFDs, more than 8 commodities, more than 11 indices, more than 56 stocks, more than 3 bonds and more than 4 cryptocurrency CFDs. Note that HotForex offers spot trading, social/copy trading, and cryptocurrency not traded as a topical, but as a CFD.

Deposit and withdrawal of funds

HotForex offers its clients and partners the most profitable and flexible conditions both for deposits and withdrawals. On weekdays, transactions are conducted as quickly as possible, in addition, there are no deposit fees.

You can replenish your account by the following ways:

  • Bank wire transfer
  • By Visa/MasterCard/Maestro credit cards
  • Electronic payment systems: Skrill, Webmoney, Neteller, PerfectMoney
  • Cryptocurrencies

Withdrawal of funds is possible via:

  • Cryptocurrencies
  • Neteller
  • PerfectMoney
  • Skrill
  • Webmoney

Processing time and fees vary, but can always be found on HotForex Website, Deposits can take anywhere from 10 minutes to 2 business days depending on the payment method used and are mostly free. Withdrawals are made 24 hours after you submit your withdrawal request on weekdays, and are mostly free.

HotForex account types

HotForex offers 6 main types of trading accounts - Micro, Premium, Zero Spread, Auto, PAMM (Premium) and HFcopy accounts. Each account type, except Zero Spread, offers commission-free trading for currency pairs with spreads from 1 pip. The Zero Spread account is based on commission, but with spreads from 0 pips on forex. HFcopy is a copy trading account with 3 main account types - Premium, Zero Spread and Premium pro.

HotForex account types
HotForex account types

Micro Account

Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading
Spreads: From 1 pip
Trading Instruments: All Available (Click here to view full list)
Fifth Decimal: +
Maximum Leverage: 1:1000
Execution: Market Execution
Minimum opening deposit: $5
Minimum trade size: 0.01 Lot
Trade size increment: 0.01
Maximum Total Trade Size: 7 Standard lots
Maximum Simultaneous Open Orders: 150
Margin Call / Stop out level: 40% / 10%
Telephone Trading: +
Account Currency: USD, EUR, NGN
Personal Account Manager: +
Commission: No
Raw bonus: Flexible Bonus Offerings

Premium Account

Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading
Spreads: From 1 pip
Trading Instruments: All Available (Click here to view full list)
Fifth Decimal: +
Maximum Leverage: 1:500
Execution: Market Execution
Minimum opening deposit: $100
Minimum trade size: 0.01 Lot
Trade size increment: 0.01
Maximum Total Trade Size: 60 Standard lots per position
Maximum Simultaneous Open Orders: 300
Margin Call / Stop out level: 50% / 20%
Telephone Trading: +
Account Currency: USD, EUR, NGN
Personal Account Manager: +
Commission: No
Raw bonus: Flexible Bonus Offerings

Zero Spread Account

Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading
Spreads: From 0 on Forex
Trading Instruments: * All Available (Click here to view full list)
Fifth Decimal: +
Maximum Leverage: 1:500
Execution: Market Execution
Minimum opening deposit: $200
Minimum trade size: 0.01 LOTS (1,000 units of base currency)
Trade size increment: 0.01
Maximum Total Trade Size: 60 Standard lots per position
Maximum Simultaneous Open Orders: 500
Margin Call / Stop out level: 50% / 20%
Telephone Trading: +
Account Currency: USD, EUR, NGN
Personal Account Manager: +
Limit and Stop Levels: Starting from 2 pip(s)
Commission: +
Raw bonus: No

Auto Account

Trading Platform: MetaTrader 4, Webtrader and Mobile Trading
Spreads: From 1 pip
Trading Instruments: All Available (Click here to view full list)
Fifth Decimal: +
Maximum Leverage: * 1:500
Execution: Market Execution
Minimum opening deposit: $200
Minimum trade size: 0.01 Lot
Trade size increment: 0.01
Maximum Total Trade Size: 60 Standard lots per position
Maximum Simultaneous Open Orders: 300
Margin Call / Stop out level: 50% / 20%
Telephone Trading: +
Account Currency: USD, EUR
Personal Account Manager: +
Commission: No
Raw bonus: No

PAMM PREMIUM

Premium Premium Plus
Trading Platform MetaTrader 4 + +
Spreads From 1.1 pip From 1.1 pip
Trading Instruments Forex - Metals - Oil - Indices + +
Fifth Decimal + +
Max leverage 1:300 + +
Execution Market Execution + +
Minimum opening deposit USD $250 + +
Minimum trade size 0.01 lot + +
Trade size increment 0.01 + +
Maximum Simultaneous Open Orders 500 500
Margin Call / Stop out level 50% / 20% 50% / 20%
Telephone Trading + +
Account Currency USD + +
Commission No $5.00 per 100,000 USD traded ($10 round turn)

HFcopy Account

Trading Platform: MetaTrader 4, Webtrader and Mobile Trading
Spreads: From 1 pip
Trading Instruments: Forex, Indices Spot, Gold
Fifth Decimal: +
Maximum Leverage: 1:400
Execution: Market Execution
Minimum opening deposit: $500 for Strategy Provider$100 for Follower
Minimum trade size: 0.01 Lot
Trade size increment: 0.01
Maximum Total Trade Size: 60 Standard lots per position
Maximum Simultaneous Open Orders: 300
Margin Call / Stop out level: 50% / 20%
Telephone Trading: +
Account Currency: USD
Personal Account Manager: +
Commission: No
Raw bonus: No
Maximum Followers: 100 - 400

HotForex demo account

Like many other Forex brokers, HotForex offers its customers a demo account. Up to $100,000 can be credited to its virtual balance. There is no time limit for using a demo account. But if there is no activity for over 29 days the account is automatically deactivated. 

In order to register and set up a demo account with HotForex, traders will need to follow these steps:

Main page of HotForex broker’s website
Main page of HotForex broker’s website
  • Go to the HotForex website and select "Open a Demo Account."
  • The trader will be redirected to a new page which will inform him/her about the HotForex demo account designation and give him/her the option to open a demo account as an existing or new client.
Demo account registration form on HotForex broker’s website
Demo account registration form on HotForex broker’s website
  • The trader can choose whether he/she wants to open a demo account as an individual or a legal entity, or to open a joint demo account.
  • Once the choice is made, before selecting "Register," the trader will need to enter some basic information such as country of residence, personal and contact information.
  • After submitting the information, the trader may need to confirm their email address before they can access the client portal and then the demo account.
Successful registration for demo account on HotForex broker’s website
Successful registration for demo account on HotForex broker’s website

Trading can seem a little intimidating for beginners without preliminary knowledge, skills or experience in trading. By providing demo accounts, brokers provide a comprehensive and safe environment for novice traders.

A demo account is called a practice account, because it gives traders the opportunity and freedom to explore a broker's offerings without the risk of bearing losses, by providing virtual money to practice trading.

Demo accounts can be used by beginner traders to get acquainted with a real trading environment, where they can develop their trading skills by actively participating in trading and developing their own trading strategies.

Demo accounts are not only for beginners, but also provide more experienced traders with an opportunity to explore HotForex's offerings.

HotForex pamm account

As a HotForex PAMM manager, you can open a Premium or Premium Plus account. Review the table above to decide which account is best suited to your trading goals.

  • The minimum deposit is $250.
  • The minimum size of each trade is 0.01 lots.
  • Maximum leverage of 1:300.
  • Variable spreads from 1 pip.
  • You can increase the volume of operations from 0.01 lot and further.
  • This account shows up to five decimal places in asset prices.
  • The maximum size of each position is unlimited.
  • You can open up to 500 orders at a time.
  • Margin warning is 50%.
  • Stop Out level is 20%.
  • Available trading platforms are MetaTrader 4, WebTrader and appropriate application for Android and Apple mobile devices.
  • You have a personal manager on this account.
  • The base currency of the account is USD.
  • Bonuses do not apply to this account.
  • Telephone trading can be conducted at any time from Monday to Friday.

HotForex MetaTrader4 platform

HotForex is a MetaTrader broker. Not only do they offer the world’s most widely used CFD platform, the MetaTrader 4, but clients can also access the cutting edge MetaTrader 5 across all computer and mobile devices. However, the MT4 and MT5 platforms are only available to Hotforex clients who come under the SV registration. To access the platforms, all you have to do is sign-up with the broker for a live account or checkout the HF Markets demo and test all the features from 100,000 in virtual currency.

MetaTrader 4 is the world's most widely used CFD trading platform, available as web, desktop and mobile applications. The terminal supports forex and CFD trading on commodities, cryptocurrencies, stocks, indices, ETFs and derivatives. The user-friendly interface makes it easy to understand all the operating features of the trading terminal, even for beginners. But, if you still need help, you can make use of the detailed user guide.

The MT4 is accessible in 41 languages and supports three types of order execution; Instant or one-click, market and pending. You can place orders from various panels in the workspace or exit with the click of a button; it's that simple. When it comes to charting, you can access three types of charts in nine time frames; one minute-one month. Analytical tools include 30 built-in technical indicators and 24 chart objects.

The platform supports manual, automated, copy trading features, is accessible on all browsers, operating systems, Android and iOS devices.

HotForex MetaTrader5 platform

HotForex also offers MT5 – is an updated MT4 trading platform.

The MetaTrader 5 platform does not differ much from the previous version, so traders working with MT4 won't have any difficulties with its functionality. However, the developers have made several additions that will make market analysis even more convenient. As for the beginners, they will have to spend a little time studying the platform's main features.

Here are the main updates to the MT5 platform:

  • Hedging allowed
  • No FIFO rule
  • Fundamental calendar
  • Commerce integration
  • Improved charts and timeframes
  • Exclusive premium indicators
  • Multiple Market Orders

General conclusion

HotForex is one of the best choices for skillful and beginning traders. It offers a selection of best-in-class services with adaptations to different media. The broker provides the ability to work with both MT4 and MT5.

HotForex provides its clients with first class service and specialized analysis. Traders can undergo training in the form of webinars, e-books and recordings on the website. In addition, the broker has heaps of awards, achievements, and opportunities to support and reward loyal clients. HotForex has enough in its arsenal of strengths to challenge the top brands in the EU and UK, and it's also important to do well in different markets.

In addition, the conditions for traders are very good. International traders can profit from high leverage up to 1:1000. Through various liquidity providers, the execution of trades is very fast. We can really recommend trading with HotForex broker.

Рositive and negative sides

Advantages of HotForex broker Disadvantages of HotForex broker
no fees for deposits and bank transfers possible delays in withdrawal of funds
control by several regulators registration is quite easy, but while it is in progress, you cannot familiarize yourself with the terms and conditions of other types of accounts
favorable trading conditions and low spreads - from 0 pips support is not available on weekends
a variety of premium MetaTrader tools and indicators the choice of electronic payment systems for deposit/withdrawal is rather modest
SUMMARY
RECOMENDED
Easy to use
10 / 10
Reputation
9 / 10
Minimizing Fees
8 / 10
Customer support
7 / 10
Deposit/withdrawal
10 / 10
Build-in Analytics
9 / 10
8,8
PROS
+
no fees for deposits and bank transfers
+
control by several regulators
+
favorable trading conditions and low spreads - from 0 pips
+
a variety of premium MetaTrader tools and indicators
CONS
-
possible delays in withdrawal of funds
-
registration is quite easy, but while it is in progress, you cannot familiarize yourself with the terms and conditions of other types of accounts
-
support is not available on weekends
-
the choice of electronic payment systems for deposit/withdrawal is rather modest
Broker: HotForex
Founded in: 2010
Minimum deposit: $5
Demo account: Free
Commissions & fees: 0%
Regulation: SV, FCA, DFSA, FSCA, FSA
Types of Trading:
Forex
Binary Options
Digital Options
Stocks
Crypto
Visit official website
Broker’s statistic
Broker: HotForex
Founded in: 2010
Minimum deposit: $5
Demo account: Free
Commissions & fees: 0%
Regulation: SV, FCA, DFSA, FSCA, FSA
Types of Trading:
Forex
Binary Options
Digital Options
Stocks
Crypto