HotForex Review

Forex and Commodities through Contracts for Difference (CFDs) trading services are available on HotForex through seven account types, trading platforms and tight spreads that average EURUSD 0.1. This broker delivers unrestricted liquidity that can be chosen from various spreads and liquidity providers through automated media that can be used to execute any trading strategy.

Founded in 2010, the brokerage firm has offices in Cyprus, Dubai, South Africa, St. Vincent and the Grenadines to serve clients globally.

HotForex is indeed showing great interest and impact mainly in Africa, Asia, the Middle East and the North Africa (MENA) regions, which brings some of the most incredible opportunities to the residents throughout the globe.

On the other hand, HotForex offers its trading service alongside the licenses that regulate the forex industry, therefore providing a trusted service. In this HotForex review, we will take a closer look at how well HotForex functions as a global trading platform for a variety of financial assets in 2022.

Awards

Additionally, in addition to its attractive trading terms, there are some proofs that HoForex is a trustworthy company based on official statistics and numbers and numerous industry awards that it holds and is winning.

Leverage

With HotForex, you can trade with floating or fixed leverage, which is beneficial, especially for smaller traders. The ability to leverage balance a particular number of times allows you to maximize your potential gain. In addition, leverage can work backwards, defining your risks, so understand how to use a tool intelligently.

From modest leverage, defined by European regulations and other measures, to very high power, HotForex offers different leverage levels.

Nevertheless, you should always be aware of the high risk of leverage since the increased power of retail trading accounts results in rapid losses.

Therefore, your leverage levels are determined by your region’s regulatory requirements or according to your level of financial expertise, so make sure you check with our customer service team to which group you are entitled.

According to ESMA regulations, European entities are limited to a leverage ratio of 1:30 on Forex instruments, 1:25 on Spot Metals, etc.

There is the leverage of up to 1:200 available to South African residents.

Account types

With six different types of accounts with specific requirements, HotForex offers an unparalleled selection of accounts. You may initially register for a Demo Account and then convert it to a Live Account by making a deposit.

They offer a variety of account types, each offering a unique opportunity for your trading strategy. Micro lots can be traded, a specified account copied, or a Masker account opened. Detailed information about the HotForex Review can be found below.

How to open a Demo Account?

Following the steps for opening a risk-free account will let you open a Demo account. The demo account will give you access to both MT4 and MT5 platforms with unlimited demo funds.

You can apply for a Live account after you are ready or have decided to start Live Trading. HotForex may ask for your documents, like documents proving your identity and residency, before you start trading. The accounts and finances for both cases can be managed through the myHF client area.

Follow these steps to create a demo account.

What instruments can I trade in HotForex?

With the increasing demand for Cryptocurrencies, these include Bitcoin, Ethereum, Litecoin, Ripple, Metals, Metals, Energy, Shares, Commodities, Bonds.

Deposits and Withdrawals

HotForex supports multiple means of funding trading accounts. Moreover, the broker issued HotForex MasterCard exclusively for a fast and safe online transaction.

Deposit Methods

Various methods are available for depositing and withdrawing funds at HotForex to simplify the process of funding accounts.  Among them are:

Visa, MasterCard, and American Express

Certain regions offer domestic and international wire transfers

Bitcoin transfers and other e-wallets are available.

Trading Platforms

As for the trading software, HotForex offers its award-winning MT4 Platform and the newer version of MetaTrader 5. Platforms offer one-click trading, numerous tools, and institutional-quality technology through advanced configurations, making it an obvious choice for one-click trading. Consequently, the software is suitable for both novices and seasoned traders.

web trading Platform

MetaTrader is also very flexible when it comes to computing with different devices. The Desktop Platform, WebTerminal, can work with any browser, and the MT4 and MT5 terminals can be customized to suit your individual needs. You can also manage multiple accounts in one go with MT4 MultiTerminal.

Due to its full range of more than 12 platforms, depending on the version, powered with fast execution, and fully applicable with the tools provided and available for trading all instruments.

Mobile Trading Platform

It is, of course, possible to trade “on the go” with the HotForex Mobile Application and mobile trading platform. MT4 and MT5 mobile trading have powerful functionality and charting capabilities with almost the same efficiency as their full versions.

Conclusion

With a customer-oriented approach and a regulated trading environment, HotForex is a well-established broker. Services and products are customized to suit specific client needs. So whether you are interested in copy trading, using EAs, scalping, or becoming a partner, there are several options. The HotForex pricing policy makes it one of the most transparent in the industry.