HotForex Review

HotForex

HotForex

https://www.hotforex.com

  • Leverage: 1:30

  • Regulation: CySEC, FCA, DFSA, FSCA

  • Min. Deposit: 5 US$

  • HQ: Cyprus

  • Platforms: MT4, MT5, RapidTrader

  • Found in: 2010

HotForex Licenses

  • HF Markets (Europe) Ltd - authorized by CySEC (Cyprus) registration no. 183/12
  • HF Markets (UK) Limited - authorized by FCA (UK) registration no. 801701

  • HF Markets (DIFC) Ltd - authorized DFSA (Dubai) registration no. F004885
  • HF Markets (SV) Ltd - authorized by FSA SVG registration no. 22747 IBC 2015
  • HF Markets (SV) Ltdauthorized by FSC (Mauritius) registration no. C110008214

  • HF Markets SA (PTY) Ltd - authorized by FSCA (South Africa) registration no.  46632

Top 3 Regulated Forex Brokers

Company Brief:

HotForex is a multi-asset broker that offers a forex and commodities through CFDs trading services and choice of 7 account types and trading platforms with tight spreads averaged EUR/USD 0.1. The broker brings an access to unrestricted liquidity to any client throughout rapid execution. The retail, affiliates or White Label have at their choice various spreads and liquidity via automated trading platforms by use of any strategy, like scalping or EA to perform trading.

The company established in 2010 while headquarters in Cyprus, but in addition serves several global offices along with different licenses, which enhances their offering to another world client, established in St. Vincent and the Grenadine as an International Broker Company, in Mauritius and South Africa. The market range includes 17 trading tools and 150+ trading products with Indices, Metals and Energies, Shares, Commodities, Bonds and due to its demand Cryptocurrencies to its tradable CFDs.

The customer service provides support in 27 languages to meet the clients need, while more than 500,000 Live accounts currently opened in the company. HotForex achievements were recognized over the years by 20 Industry awards. The prestigious titles from some of the forex industry’s most respected awarding bodies including Best FX Broker in the Gulf; Best Broker in China; Best Affiliate/ IB Programme; and, Best FX Broker Western Europe. Most recently, HotForex was selected to join the ranks of the World Finance Top 100 Global Companies. Along the HotForex’s numerous Social activities responsibilities (Red Cross, Unicef, etc) and Sponsorships (Pilot: Tio Ellinas 2017, 2015, 2013, Beach Volley EUSA 2015, etc.)

HotForex Review

Licenses, Regulations & Security of funds:

HotForex is a brand name of the HF Markets (Europe) Ltd. that is authorised and regulated by the Cyprus Securities Exchange Commission (License Number 183/12) and holds a cross border license, authorising the company to provide investment services internationally. However, the broker holds additional licenses to be able to serve clients from some specific jurisdictions, hence HF Markets (SV) Ltd licensed by FSC in Mauritius and HF Markets SA (PTY) Ltd licensed in South Africa by FSCA.

The main supervisory CySEC is regulatory authority for Investment Services firms in Cyprus and is a member of the Committee of the European Securities and Markets Authority (ESMA), while governed by all applicable EU and local regulations including the European Markets in Financial Instruments Directive (MiFID). In addition to the main regulations HotForex also authorized by the number of regulation entities within EEA, which includes FCA UK, BaFin Germany, CONSOB Italy, CNMV Spain, FSA Denmark, and more.

For the funds protection, HF Markets (Europe) Ltd. is a member of the Cyprus Investor Compensation Fund that constitutes a claims of the covered clients against investment firms. Clients’ deposits are protected under the requirements of the regulators, as well the Company has made further efforts to safeguard its liabilities with a Civil Liability insurance program for a limit of €5,000,000, which includes market leading coverage against errors, omissions, negligence, fraud and various other risks that may lead to financial loss.

Trading Platforms and Tools:

The trading process provided by award-winning MT4 Platform which enables one-click trading along with numerous tools, which brings an access to institutional quality technology through advanced configuration.  Since the good research is the most valuable in trading the broker provides Autochartist tool, VPS Hosting (free VPS package provided to those who deposit from 5,000$) and Trader’s Board for analysis, as well as additional Premium Trader Tools, numerous Calculators, Calendars and News.

MT4 terminal available in various versions that suit trader needs and allows efficient trading though Desktop version, WebTerminal which is compatible with any browser, MT4 MultiTerminal with access to manage multiple accounts simultaneously, as well HotForex MT4 Mobile Application with an option to trade “on the go”. All platforms are powered with fast execution, fully applicable with provided tools and available to trade all the offered instruments.

Accounts:

HotForex provides an unparalleled variety of account options that clients can select to enjoy a tailored trading experience that suits the needs. Currently, the company offers 7 different accounts with specific requirements to a different trader, that includes a Demo account to try out the “real” trading but with virtual funds and Lice account through the Micro, Premium, VIP, FIXED, ZERO, HFCOPY, AUTO Account and Islamic Account.

Micro Account – good choice to start, requires a deposit of 50$ and brings leverage 1:500 through variable spreads from 1 pips with market execution and the maximum order number of 150.

Premium Account – designed for experienced retail traders, the key feature is the flexibility of position sizing. 500$ for account opening, market execution with leverage 1:400 and variable spreads from 1 pips, maximum orders are 300.

Zero Account – is an account with the deposit of 100$, leverage 1:200 variable raw spreads from 0 pips and very low commission at 0,04$ per 1k lot. This account useful for scalpers, high-volume traders and EA traders.

Fixed Account – for those who prefer tailored spreads you can depend on and calculate carefully. Initial balance should be 500$, while offering leverage 1:400.

VIP Account – min deposit 20,000$ offering spreads from 0 pips at leverage 1:300, 400 simultaneous orders can be performed along with the personal manager and private consultations with Senior Analyst.

Auto – opens a trading world even to novice investors by giving an opportunity to subscribe to free or paid Trading Signals from the MQL5 Community. Requires 500$ balance and brings leverage 1:400 with variable spreads from 1 pip.

HFCOPY – is an account for Strategy Providers or Followers. The client can build his inventory and trade in exchange for a performance fee – 35%. Clients are able to trade Forex and Bitcoin only with leverage 1:100 through market execution. Minimum opening deposit is 1,000$ for Strategy Provider and 300$ for the follower.

HF Markets (Europe) Ltd offers services to residents within the European Economic Area (excluding Belgium), Switzerland and Mauritius.

HF Markets (SV) Ltd does not provide services to residents of the USA, Canada, Sudan, Syria, North Korea.

Deposits and Withdrawals:

To simplify the funding of accounts, HotForex offers 14 methods to deposit or withdraw money, as well as established a HotForex MasterCard for straight transaction and the ability to make safe online payments. Those methods includes major credit and debit cards, wire transfers, Skrill, Neteller, WebMoney, iDeal and more. As investment brokerage, HotForex provides secure transactions through Free account funding that is automatically provided to all lice account holders. Means, the company does not apply any fees on deposits.

Conclusion:

Overall, the HotForex review presents a global company with well-established customer-oriented operation which provides a secure, as well regulated trading environment for mostly any client demand. The services and products are tailored to specific requirements while bringin comprehensive range of clients accounts, platforms, tool, instruments, with ability to choose suitable strategy either to copy traders or to use EAs, or scalping etc. As well their pricing strategy shown a transparent price with one of the lowest rates among the industry, also with negative balance protection. Hence, throughout general proposal and trading solution HotForex earns a name of a trustworthy company which is shown by their number of clients also.

  • HotForex acquires DFSA license and expands its operations in the UAE

    HF Markets, known by its trading name HotForex, has got its license from the Dubai Financial Services Authority (DFSA) and has now announced about the operations in the United Arab Emirates (UAE). HF Markets already has operations in the UK, South Africa, and Cyprus. The Dubai Financial Services Authority (DFSA) is the financial regulatory agency...

    Read more
  • HF Markets (UK) Ltd. gets licensed by UK’s FCA

    Only a week ago we have been informed that HotForex has acquired a license to operate in the UAE and now the broker has revealed that it has got the esteemed Financial Conduct Authority (FCA) license. The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the...

    Read more
  • Hot Forex rebrands its European entity as HF Markets

    Only a few days after receiving a new FCA license and a few weeks after opening its Dubai office HotForex is rebranding. Retail online forex broker has announced it will rebrand its European entity as HF Markets by the end of January, 2019. The group of companies in the HF Markets Group have been using...

    Read more

Leave a Reply

Your email address will not be published. Required fields are marked *