HotForex.com Review

HotForex ReviewHotForex Review -ECN/STP Broker

HotForex is the ideal broker for semi-advanced and advanced Forex traders including day-traders, EA traders, and scalpers. If you fund your account with $500 or more you can open an ECN CurreneX account. The CurreneX account offers fast execution with tight spreads as low as 0.4 pip, plus $10/round lot commissions. Automated trading and scalping are fully allowed.

RATING FORMULA 5.0 SCORE

According to the Forex Rating Formula v4.0, HotForex has scored 79.38%.

HOTFOREX RATING SUMMARY
  MAX ACHIEVED SCORE (%)
1. Safety of Trading Funds 28.00 18.63 66.5%
2. Cost of Trading 28.00 20.00 71.4%
3. Trading Options 28.00 24.75 88.4%
4. Trading Technology 16.00 16.00 100.0%
Overall HotForex Rating 100.00 79.38 79.38%

 

TRADING STYLES SCORE (%)

HOTFOREX FOR INTRADAY-TRADING

76.1%

HOTFOREX FOR SWING-TRADING

77.1%

HOTFOREX FOR CARRY- TRADING

42.5%

 


HOTFOREX COMPANY
INFORMATION

Broker Type: ECN / STP Forex Broker offering CFDs and Futures

Years in the Market: HotForex Foundation in 2007

Main Offices: Main offices in Cyprus, other offices in many European, Asian and Middle East countries

US Traders: Not accepted –NO-

Islamic Accounts: HotForex offers swap-free (Islamic) accounts –YES-

Regulation: CySEC, MiFID (EU) but also registered with FCA UK, ACP, CONSOB, AFM, and CNMV. HotForex is audited by KPMG.

Customer Service: 24/5 (Live Chat, Phone, eMail)

■ Languages: Multilingual Support: English, Arabic, German, Chinese, Greek, Spanish, Hindi, Russian, Japanese, Korean, Persian)


HOTFOREX TRADING INFORMATION

■ Forex Execution: STP / ECN (GMT server)

■ Other Instruments: CFD and Futures

Platforms: Web-Trader, MetaTrader-4, MetaTrader-4 Multi-Terminal and FIX/API

Asset Index: HotForex offers 43 Currencies, 36 world stocks, 12 indices, and 5 Commodities

■ Spread on EUR/USD: The minimum CurreneX spread is 0.4 pip (EUR/USD) -For more info check the following table for all account types

■ Trading Commissions: No commissions on standard account types | $10/full traded lot on CurreneX account


HOTFOREX TRADING PLATFORMS

HotForex is offering a very good variety of Trading Platforms that include desktop and mobile trading:

MetaTrader-4 plus MetaTrader-4 Multi-Terminal

Web-Trader (for beginners)

FIX/API platform (for automated trading)

Mobile Trading for iPhone, Android iPad, and BlackBerry

A practice account is available

Automated Trading, Scalping, and Hedging are all available

Free VPS Hosting service for accounts more than 5,000USD

Other features include One-Click-Trading, Free Trading Signals, and Central Analysis

 


 

 

HOTFOREX ACCOUNT INFO

■ Leverage: Leverage at HotForex up to 1:1000

■ Demo Account: HotForex is providing a Demo Account –YES

■ Hedging / Scalping: is allowed at HotForex –YES-

■ Automated Trading: –YES-

■ Bonus: HotForex offers Bonus up to 100%

■ Minimum Account: The minimum account is just 5 USD.

■ Deposit Methods: Bank Wire, Credit / Debit Cards, Web Money, MoneyBookers, Neteller, iDeal, China Union Pay, Sofort, Netbanx and TrustPay

■ Withdrawal Methods: Bank Wire, Credit / Debit Cards, Web Money, MoneyBookers, Neteller, iDeal, China Union Pay, Sofort, Netbanx and TrustPay

HOTFOREX ACCOUNTS INFORMATION

HotForex Account Types

Micro Account

Premium Account

VIP Account

FIX Account

Currenex Account

Zulu Account

Minimum Account Size

50 USD

500 USD

40,000 USD

500 USD

500 USD

50 USD

Max Leverage Ration

1,000:1

400:1

300:1

400:1

400:1

300:1

Account Currencies

EURO / US DOLLAR

EURO / US DOLLAR

EURO / US DOLLAR

EURO / US DOLLAR

EURO / US DOLLAR

EURO / US DOLLAR

Account Lot Size

0.01

0.01

0.5

0.01

0.01

0.01

Spread Type / Minimum Pips

Variable / 1.0 pip

Variable / 1.0 pip

Variable / 0.2 pip

Fixed

Variable / 0.4 pip

Variable / 1.0 pip

Trading Commissions

NO

NO

$6/full traded lot

NO

$10/full traded lot

YES

Trading Platforms

All Trading Platforms

All Trading Platforms

All Trading Platforms

All Trading Platforms

All Trading Platforms

All Trading Platforms

Personal Manager

X

X

Personalized Trading Service

X

X

X

X

X

 


HOTFOREX TRADING REBATE BY FOREX-REBATES.COM

This is a free $6.0 Rebate when trading with HotForex. Find below all the information for joining this free HotForex rebate plan.

■ The rebate is paid every day after midnight

■ The rebate is $6.0 per full traded lot

■ The rebate is 100% free of any charge (you never pay for your participation)

■ You can additionally claim your welcome bonus or any other promotion (no conflict with the rebate)

■ The minimum daily payment is $5. If your daily rebate is less than $5, then it is paid in the next day

 

IDEAL ECN BROKER FOR AUTOMATED TRADING & SCALPING

 


HOTFOREX REVIEW CONCLUSION

HotForex is a highly regulated ECN / STP Forex broker found in 2007. The broker is transparent to its clients as it offers segregated client bank accounts and it is audited by the popular accounting and consultancy firm KPMG. HotForex has been awarded many rewards including the Best Online Broker for by World Finance. HotForex is suitable for many different trading styles including day traders and scalpers as it allows Expert Advisors, scalping, hedging, and trailing stops. The asset index contains 43 Currency Pairs (of which 20 are exotic pairs) and other financial instruments including Precious Metals, Energy, Commodities, Stocks, and Indices. As concerns Trading Platforms, HotForex offers 9 platforms including MetaTrader-4, Web Trader, Smartphone Trader, and FIX/API RapidTrader. The broker offers also many free services to all clients such is Forex education, trading signals, market analysis, video tutorials and a free VPS under conditions. HotForex customer support includes 24/5 live chat, phone, and email support. The broker provides international multilingual phone numbers (English, Arabic, Chinese, Japanese, Korean, German, Greek, Hindi, Russian and Spanish) and 6 virtual destinations. As concerns the trading accounts here are some key points:

■ Micro Account– Forex beginners (web-trader is also available)

■ VIP Account – Professional Forex traders

■ CurreneX Account – Scalpers and day-traders (you get also a free VPS service)

■ PAMM Accounts – Forex money managers (MT4 multiterminal)

■ Islamic Accounts– Swap-free trading

The minimum spreads offered by HotForex are found in the VIP and Currenex account type and start from 0.2 pips (some commissions charged). In other account types, no commissions are charged and the spreads start from 1.0 pip. As concerns the account funding, HotForex offers a great number of different deposit and withdraw methods while no deposit/withdrawal fees are charged. HotForex offers fast withdrawals while they include also internal transfer methods. The minimum account is $5 and the welcome bonus policy is usually 40% for all new customers. You can also take advantage of the Forex-Rebates.com free HotForex rebate plan ( $6.0 / lot ) which is really free (information above).

 

 

Other ECN/STP Brokers: » FBS.com Review


 

Reviewing HotForex -is HotForex a Scam?

ForexAutomatic.com

 

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