Is HotForex a reliable broker? Do they segregate client funds? How fast do they process withdrawals? – Fintech Events Center HotForex review intends to deliver an honest and unbiased 360 degree outlook on one of the largest retail Forex brokers.
We have based our HotForex review  on the following categories:

  1. Regulation: HotForex regulation
  2. Platform: HotForex trading platforms
  3. Customer care: HotForex customer care review
  4. Trading accounts, spread, traders feedback, deposit and withdrawal speed

HotForex Company overview

HotForex is  a brand of HF Markets Group. Having established  in 2008,it is one of the largest retail Forex brokers both in Asia and Europe.

Despite starting  in the middle of  world financial crisis, their operations bloomed quite rapidly. Perhaps, that might be the reason why HotForex managed to reach thousands of traders from all over the world.  However, being a CySEC authorized Forex broker, HotForex does not accept clients from the following countries at the moment:

  • USA
  • Canada
  • Belgium
  • Sudan
  • Syria
  • North Korea

Besides their CySEC license, Hotforex Markets Group also holds FSC Mauritius regulation. Being one of the key participants of the retail Forex revolution, HotForex targeted the high demanding Asian traders initiallly. During their multi-year market presence, they won a number of financial industry awards including Best Forex broker and Best Customer Service Broker award. HotForex is also listed in Top 100 Companies of World Financial Magazine.

Honesty, Openness and Transparency

With their “Honesty, Openness and Transparency” motto, Hotforex team is focused on providing transparent Forex trading services.

Hotforex trading platform review

HotForex provides a number of different MT4 based trading platforms to suit all trading preferences. If you want to trade on your computer, smartphone or any other device, you will get a suitable HotForex trading platform for yourself.

Hotforex review trading platforms

For traders who prefer to perform their trades while on the move, the company also provides a number of other MT4 ad on platforms for a range of devices whether Android or iOS, including  iPhone trader, iPad trader, Hotforex Android and Smartphone Forex Trading.

Here is the cool part! HotForex offers Rapid Trader FIX/API services for professional traders.

What is the best Hotforex account?

Whether you are looking to open a Demo or Live account, Hotforex seriously have got you covered. They offer 6 different live account types:Micro, Premium, VIP, FIX, Islamic and Auto Account types.

The company claims that whatever your trading strategy, level of funding or appetite for risk, from micro to unlimited trade sizes, they have an account to match your needs.

Hotforex micro account review

Hotforex Micro account is for new traders. Basically for those trading smaller volumes with smaller deposit sizes. HotForex Micro account allows investors to trade smaller trade sizes and open an account with a lower initial deposit than an ordinary trading account, but still be able to use MetaTrader4 trading platform.

Max leverage:1:500 *
Execution:Market Execution
Minimum opening deposit:$50
Minimum trade size:0.01 lot
Trade size increment:0.01
Maximum Total Trade Size:5 Standard lots
Maximum Simultaneous Open Orders:150
Margin Call / Stop out level:40% / 10%

Hotforex Premium account review

HotForex Premium Account accommodates the experienced retail traders. A key feature is the flexibility in position sizing with this account. The limit for a single trade size is 60 lots. There is a minimum trade size of 0.01 lot and the trade size increment remains flexible at 0.01.

Fifth Decimal: Yes
Max leverage:1:400*
Execution:Market Execution
Minimum opening deposit:USD $500
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%

Hotforex Zero account review

With a minimum opening deposit of just USD 100, the HotForex ZERO Spread Account is a low-cost trading solution. Bear in mind this account has commission. However, it is particularly useful for scalpers, high-volume traders and those who trade with Expert Advisors (EAs).

Trade size increment:0.01
Maximum Trade Size:60 standard lots per position
Maximum Simultaneous Open Orders:500
Margin Call / Stop out level:50% / 20%
Telephone Trading: Yes
Account Currency:USD, EUR
Personal Account Manager: Yes
Limit and Stop Levels:Starting from 2 pips

 

As a HotForex ZERO Spread account holder, you will receive RAW, Super-Tight Spreads from leading liquidity providers with NO markups! The account offers a highly transparent commission-based structure and commissions start at a low USD 0.04 per 1K lot.

Hotforex Fix account review

Hotforex FIX account is a trading account with fixed spreads. The account basically helps you to get in to carefully calculated trading entries with specific conditions and allows for the implementation of trading strategies with maximum control.

The most significant of the Hotforex Fix account is the compatibility with EAs that are designed to function with fixed spreads.

Fifth Decimal: Yes
Max leverage:1:400**
Execution:Market Execution
Minimum opening deposit:USD $500
Minimum trade size:0.01 lot
Trade size increment:0.01
Maximum Trade Size:60 standard lots per position
Maximum Simultaneous Open Orders:300
Margin Call / Stop out level:50% / 20%
Telephone Trading: Yes
Account Currency:USD, EUR
Commission:No

Hotforex VIP account review

Besides the trading account itself Hotforex VIP account holders enjoy the following extra benefits as well:

  • 3 private 30 minute Consultations with HotForex Senior Analyst, Stuart Cowel (bookable in advance);
  • Upon request a complimentary subscription to HotForex’s Daily Market Updates SMS Service

Keep in mind VIP account qualification has a minimum $20,000 deposit.

Fifth Decimal:
Max leverage:1:300*
Execution:Market Execution
Minimum opening deposit:$20,000 / € 18,500
Minimum trade size:0.1 lots (10,000 units of base currency)
Trade size increment:0.01
Maximum Trade Size:60 Standard lots per position
Maximum Simultaneous Open Orders:400
Margin Call / Stop out level:50% / 20%
Telephone Trading: Yes
Account Currency:USD, EUR
Commission:$6/€5 per round-turn standard lot **
Agent Commission:0.3

 

Hoforex Bitcoin trading review

Hotforex offers a large list of trading instruments. The list of offered instruments include Cryptocurrency CFDs, Forex, Metals, Indices, Shares, Energies, and Commodity CFDs.

Presently, many traders show  keen interest in HotForex bitcoin trading.  Note that Hotforex Bitcoin is Cryptocurrency CFD. So, it is beneficial for you as long as you want to take advantage of the daily fluctuations. Which often is rather amazing!

Hotforex only recently added Bitcoin to their cryptocurrency offerings as a tradable CFD asset due to high demand, and added BitPay to their deposit and withdrawal methods to make it easier for clients to use the digital currency. This is quite amazing. So, the broker is actually meeting your needs!

They allow traders to trade the BTC/EUR and BTC/USD pairs at competitive prices. We checked the liquidity, as well. Superb!With a contract size of 1 lot, and a commission of $1 per lot traded (round turn) you can trade Bitcoin with Hotforex. :

Hotforex trading advantages

Let’s look into Hotforex trading advantages:

  • Funds security: Hotforex voluntarily has opted in extra fund security insurance for every account, besides having segregated accounts.
  • Account types: Hotforex has 6 different accounts. Great variety and also offers FIX API integration option as well.
  • Regulation: Hotforex regulation is quite strong. Even got South African FSP regulation.
  • Trading platform: Hotforex offers MT4 for all devices. So, no limitations for your device.
  • Bitcoin trading: Bitcoin exchanges charge big premium often. You can avoid those premiums and trade with $1/lot.
  • Customer care: Hotforex customer care is multilingual and timely,  even  offer phone trading if something goes wrong!

Hotforex Disadvantages

Since they don’t have a US license, Hotforex does not accept traders from the US. The same goes for Canadian traders as well.

Furthermore, the site advertises many great offers and promotions, however not all of them are globally applicable. Due to various regulations in different jurisdictions, not all offers, promotions and contests are available to all clients. So, check for your own country as well.

Conclusion: Is Hotforex a scam or reliable broker?

Hotforex review has been very positive from FinTech Events Center analysis .

The company has an impressive customer support team. They have wide range of regulations serving as many geographies as possible. They offer ECN account module and have 6 different account types. As per analysis and feedback from various clients, FinTech Events Center concludes Hotforex as a reliable Forex broker. Especially, for the fact that the company has an additional third party insurance on client funds.

However, please don’t just finish here, please make sure to share your bit of review for Hotforex as well. Or just visit their website for more information.

Review HotForex

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Company Information
Broker Type: ECN
Headquarters: Cyprus, Mauritius
Year Founded: 2008
Regulation: CySEC, FSC Mauritius
Contact Information
Website: hotforex.com
Telephone: +44-2033188569
Email: support@hfeu.com
Trading account
Minimum deposit: 50$
Maximum leverage: 1:1000
Demo account: Yes
Limitation on demo accounts: No
Segregated account: Yes
Islamic account: Yes
Managed account: No
Mini account: Yes
Premium account: Yes
Deposit options: Bank wire, Credit Card, iDeal, Neteller, Qiwi, Skrill, Sofort, WebMoney
Withdrawal options: Bank wire, Credit Card, iDeal, Neteller, Qiwi, Skrill, Sofort, WebMoney
Trading Information
Trading Platform: MT4 (Metatrader4)
Commission on trades: Yes
Fixed Spreads: Yes
Scalping: Yes
Hedging: Yes
Trailing SP/TP: Yes
EAs Allowed: Yes
VPS Services provided: Yes
Email alerts: Yes
Trading Signals: Yes
Available instruments
Forex: Yes
Commodities: Yes
ETFs: No
CFDs: Yes
Stocks Indices: Yes
Indices: Yes
Forbidden trading styles
As of November 13  2017, Hotforex does not have any forbidden trading style.

Is HotForex Scam or reliable?

Let's sum it up to see if Hotforex is scam or Trustworthy Forex broker:

HF Markets Group is an unified brand name including the following:

  • HF Markets (SV) incorporated in St. Vincent & the Grenadines;
  • HF Markets (Europe) Ltd regulated by the Cyprus Securities and Exchange Commission (CySEC);
  • HF Markets Ltd regulated by the Financial Services Commission (FSC) of the Republic of Mauritiu;
  • HF Markets SA (PTY) Ltd authorised by the Financial Service Board (FSB) in South Africa.

Under a Market Leading Insurance program, HotForex clients’ deposits are protected under the requirements of its regulators. The Company has made efforts to safeguard its liabilities against Clients and other third parties with a Civil Liability insurance program for a limit of €5,000,000. This Civil Liability insurance is a superb protection for traders. HotForex Trader Insurance includes market leading coverage against errors, omissions, negligence, fraud and various other risks that may lead to financial loss. There is no additional cost to HotForex clients for this cover

Moreover, HotForex has a negative balance protection policy. This means that even under highly volatile conditions when margin calls and stop-outs do not function correctly, no client is responsible for paying back a negative balance. Another positive point!

HotForex offers industry-leading security of funds. Not to make it promotional, in short, Hotforex uses major global banks and keeps funds segregated to ensure that client funds are not affected should HotForex itself have any problems.

Hotforex KYC procedure is also strong. All clients must answer a short questionnaire to test their suitability and must provide Proof of Address and Proof of Identity documents before an account can be approved.

They offer 24/5 Customer support in over 25 languages to help with any issues, and their execution desk can assist in times when a client is unable to access their account. For general education, clients have access to wide range of resources and live webinars. They offer Demo accounts to allow beginning traders to practice no-risk trading before they open a Live Account and deposit real money.

Are you still wondering if Hotforex scam or reliable broker?

Hotforex is a trustworthy, reliable broker!



 

HotForex MasterCard New!

Hofforex Master Card is a free MasterCard option from the company. As long as you have an account with the company you can apply for a personal card. Please note that residents of Algeria, East Timor, Ecuador, India, Iran, Israel, North Korea, Kosovo, Myanmar, Syrian Arabic Republic, Japan and Congo Democratic Republic are not entitled to apply for the HF MasterCard at this time.

Free Account Funding

As an investment brokerage, HotForex is strict on transactions. Hotforex does not impose any additional fees on transactions made for depositing funds to your trading accounts. It is automatically applied to everyone

HotForex Merchandise

There is a wide range of top quality products all branded with the HotForex logo. The products are not available for purchase! Furthermore, they believe that you, the Client are our most valuable asset and the launch of the HotForex branded products recognizes this by giving you the HotForex merchandise free of charge.