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HotForex review 2021 – Things to be considers before trade

Forex trading and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.


HotForex offering Meta4 and Meta5 platform for trading and also a good selection of tradeable products. However, HotForex does trail leading multi-asset brokers in overall platform depth.

 — HotForex »

HotForex review 2021

» Founded in 2010, HotForex is regulated in one tier-1 jurisdiction and three tier-2 jurisdictions, making it a safe broker (average-risk) for forex and CFDs trading.


» HotForex is a MetaTrader broker that offers the full MetaTrader suite with an optional tools package for customers called Premium Trader Tools to enhance the default experience. Customers have access to over 1000 securities, including CFDs on popular instruments and nearly 50 forex pairs.


» With six different account type options, pricing at HotForex varies greatly by account type. HotForex's pricing is slightly better than the industry average; however, pricing still trails low-cost leaders such as CMC Markets and IG.

» Who owns Hotforex?

The Hotforex brand is founded in 2010 by the HF Markets group. St Vincent. Where is Hotforex based? The head office is located in Cyprus, while the other offices can also be found in Grenadines, St Vincent, and Kingston.

— HotForex reviews 2021 »

This Hotforex Review represents one well-organized brokerage company’s analysis where communication, payment options, and payment speed are on an extraordinary level. This broker is well regulated and, in the last 10 years, made huge improvements in all areas of service. Forex.in.rs evaluation rates this broker as the best broker in the market.

Exness Forex reviews 2021 »

» If you reading hotforex review then the first question arise in your mind is

Is Hotforex a regulated broker? 

Though regulatory laws and best safety practices protect the investors in forex trade through the forex brokers, some brokers still provide their clients’ additional protection through their regulations.


In South Africa, HF Markets SA PTY is regulated under authorization number 46632 by FSCA or the Authority of Financial Sector Conduct (visit our Hotforex review, South Africa) In Cyprus, European HF Markets Ltd. with license no; 183/12 is regulated by CySEC or the Cyprus Securities and Exchange Commission.


In the UK, HK Markets Ltd is regulated under reference no. 801701 by FCA or the Financial Conduct Authority. To get details about their compliance with regulation, you can use this reference number.

In Dubai, HK Markets Ltd is controlled under license no F004885 by DFSA or Dubai Financial Services Authority.

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HotForex review 2021

— Is HotForex safe »

HotForex is considered average-risk, with an overall Trust Score of 83 out of 99. HotForex is not publicly traded and does not operate a bank. HotForex is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). HotForex is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA).

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— What HotForex offering for Investments »

  • Forex: Spot Trading »Yes
  • Currency Pairs (Total Forex pairs) »47
  • CFDs - Total Offered »1044
  • Social Trading / Copy-Trading »Yes
  • Cryptocurrency traded as actual »No
  • Cryptocurrency traded as CFD »Yes 

— HotForex Commission and Fees 2021 »

HotForex offers five account types, all of which are spread-only (commission-free) except the commission-based Zero account. The Premium and Premium Pro accounts are spread-only, with minimum deposits ranging from $50 to $600, and the HFcopy account is for copy trading. Based on the data displayed by HotForex, the Zero account is most competitive as it features the lowest spreads and a small per trade commission.


Account comparisons: On the Zero account, typical spreads are 0.1 pips on the EUR/USD and incur a commission of roughly 0.6 pips ($3 per side) per trade, totaling an all-in cost of 0.7 pips. On the Zero account, trading costs are lower, but margin requirements are twice as high as the Premium account, where typical spreads are 1.2 pips. In addition, there is a volume limit of 60 lots per account (7 lots on the micro account), which is far more restricted than FxPro or IG.


Published data: While HotForex lists typical spreads across its account types, the broker does not list a date range for the data. We'd like to see an average spread published for a given period, as it is hard to otherwise quantify a variable spread.

— HotForex quick infoe 2021 »

  • »Founded: 2010
  • »Regulator: FSA, Seychelles
  • »Minimum deposit: $50
  • »Leverage: Up to 1:2000
  • »Average spread: 1.20 (Zero and Raw spread) 0.3 – Standard
  • »Platforms: MT4, MT5, Web, Mobile 

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Platforms and Tool review of HotForex

HotForex is a MetaTrader broker that offers the entire MetaTrader suite, including both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) desktop and web. The desktop version supports automated trading systems known as Experts through the MQL5 signals community.

Hotforex meta4

While MT4 and MT5 come standard, HotForex does provide customers an optional suite of trader tools, called Premium Trader Tools, developed by FX Blue Labs. Highlights from the 12 tools provided in the package include Trade Terminal for advanced order execution, Connect for news, Alarm Manager for alerts, and additional technical indicators like Renko bars, pivot points, and order history. The Advanced Insights plugin is also available.

Feature 

  • Virtual Trading (Demo) »Yes
  • Proprietary Platform »No
  • Desktop Platform (Windows) »Yes
  • Web Platform »Yes
  • Social Trading / Copy-Trading »Yes
  • MetaTrader 4 (MT4) »Yes
  • MetaTrader 5 (MT5)» Yes
  • cTrader »No
  • Charting - Indicators / Studies (Total) » 51
  • Charting - Drawing Tools (Total) » 31
  • Charting - Trade From Chart » Yes
  • Watchlists - Total Fields » 7
  • Order Type - Trailing Stop » Yes

Education

HotForex provides a variety of educational content, which ranges from over 26 articles in its e-course to several ebooks and dozens of videos. I found the content to be okay, a touch above the industry average, when compared to the best forex brokers in this category.


For example, some of the advanced videos were barely a minute long and lacked detail. Expanding the length and quality of the materials would help HotForex build on its existing foundation for educational content for traders. At the same time, I found the other content that HotForex offers useful, such as the history of CFDs and Stocks. Last but not least, HotForex's YouTube channel had some good quality educational videos such as short clips explaining what a Parabolic SAR (Stop and Reverse) indicator is. Expanding this category further will help bring it closer to peers.

Forex Broker that allow trading with Perfect Money »

Hotforex eductation


Final Thoughts

HotForex is suitable for traders looking for a MetaTrader-only broker that has a handful of additional upgrades from the standard, default setup.


But if you ask me, I will suggest to  trade with esness forex broker - Read more about exness 

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