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HotForex Broker Review and Analysis 2021/2022

HotForex Overview

HotForex is a Forex and Commodities-based trading online broker, which is an award-winning broker, the broker is opening by the international business company HF Markets Group. HotForex was founded in the year 2010, the main head office located in Irida 3 tower on the 10th floor, 6057 Larnaca, Cyprus.

The company is providing trading services since 2010 successfully. They have 2 million + live forex traders and partners, 200+ Employees Globally. They have recently become an official partner of the Paris Saint Germain Football Club, which is very popular all over the world.

Regulation of the broker HotForex

HotForex is a fully regulated forex broker all over the world. We had tried to get all of the licenses for HF markets and got the following license details from the internet.

The company HF markets are operating as International Business Company with the registration number 22747 IBC 2015, which is registered in St. Vincent & the Grenadine. There is a UK regulation available for the company, and the reference number is 801701. For the Asian regulations, they claimed a license number under Dubai Financial Services Authority DFSA with the number F004885.

The company is also authorized and regulated as a Financial Service Provider (FSP) from the (FSCA) in South Africa, and the license number is 46632. They are maintaining the laws of the Republic of Seychelles because they are registered here with the number

8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015.

HotForex trading platforms

Hotforex operates its business with the trusted and fluent trading platforms MT4 and MT5, which the MetaQuotes corporation develops. The broker said the platform could be used from any smartphone or iPhone. The web version web terminal also available for traders, or desktop app can be downloaded from the internet and can be used for free. To use the mobile version of MT4/MT5 platforms, clients need to download the app from web app stores. This completely for traders nothing needs to pay for downloading or use it.

HotForex trading accounts

We have found six different types of accounts on the HotForex website. These are Premium, Micro, Auto, Zero Spread, HF Copy, and Pamm premium. These accounts are different from each other, and each of them has some unique features. Let's get the details about these types of accounts.

Micro Account

Micro account is designed for startup traders where a trader needs to deposit only $5 to kick start a trading career. A trader will get up to 1:1000 leverage, and spread starts from 1 pip in this account.

Premium Account

The Premium account of HotForex is different from the Micro account, and the minimum deposit required $100. The maximum leverage for the account is 1:500*, and the spread starts from 1 pip.

Zero Spread

To trade with a Zero Spread account with HotForex, traders have to deposit a minimum of $200 in his/her account. In this account, a trader will get up to 1:500* leverage, and obviously, there is no spread for the account.

Auto account

HotForex Auto account is almost the same as zero spread account where the minimum deposit is $200, the maximum leverage for clients 1:500* and spread starts from 1 pip.

PAMM account

PAMM account minimum deposit is $250, and a trader will get up to 1:300 leverage while trading with this account. The spread starts from 1 pip and Max Simultaneous Open Orders: 500.

HF copy account

This special account is for Strategy Provider, and this the highest-paid account of HotForex. The Minimum Deposit: $500 for Strategy Provider, and $100 for Followers, maximum leverage is 1: 400. The spread starts from 1 pip and Max Simultaneous Open Orders: 300.

HotForex Promotions

HotForex is arranging various types of Forex contests for live and demo traders several times a year. The broker is providing a $30 forex deposit bonus all the time in several countries. Also, the broker is offering forex deposit bonuses several times a year. There is a loyalty program available for live traders where they can earn extra cashback rebates bonus on their trades.

Deposit and Withdrawal Methods of HotForex

There is numerous funding, and withdrawal systems are available at HotForex. Clients can use popular e-wallets like Neteller, Skrill, Webmoney, Fasapay, etc., for making deposits and withdrawing funds from the broker. Also, there is master and visa cards are available for funding. The company also allows wire transfers, and clients can also use cryptocurrencies for making deposits in HotForex.

Customer Support of HotForex

HotForex is one step forward than other brokers in the market while the question comes for customer supports. Because they are operating their business with 28 different foreign languages and different customer support management is available for clients. They can choose the support language they want. Also, there is Email and live chat support available for instant response.