From August 1st, trading conditions will be largely changed.
HotForex - What's now?
HotForex has suspended that trading of Cryptocurrency pairs temporarily.
Do you live in South Africa? Then please go to HotForex ZA (South Africa) main introduction page.
In accordance with recent European Securities and Markets Authority (ESMA) regulatory measures, we are notifying you regarding the following changes to the trading conditions of your account(s):
From Tuesday July 31, 2018 at 00:00 Server Time, the Margin Call notification level inside the client trading terminal will be increased from 40% on Micro Accounts and from 50% on the rest of the Account types to 80% thus affecting all Account types.
Stop Out Level
From Tuesday July 31, 2018 at 00:00 Server Time, the Stop Out Level will be increased from 10% on Micro Accounts and from 20% on the rest of the Account types to 50% thus affecting all Account types.
As a result, any open trades will be automatically closed at an earlier stage in case of a drawdown.
Upcoming Leverage Changes
During the following month, there will be changes on the Leverage of the below Contract for Difference (CFDs) underlying assets.
You will be notified with announcements inside myHotForex Client Area for each specific change in your trading conditions as follows:
- Metals and Energies (excluding Gold): 1:10
- Shares: 1:5
- Indices: 1:10 – 1:20
- Commodities: 1:10
- Cryptocurrencies: 1:2
- FX major Currency Pairs: 1:30
- Gold and non-major FX Currency Pairs: 1:20
As of Wednesday August 01, 2018 at 00:00 Server Time, all current Currency Pairs, Gold and Cryptocurrency (i.e. BTC) trades will be placed into close only mode.
No new positions on the current symbols will be accepted, while pending orders, if triggered, will be cancelled instead.
Please note that as of the above-mentioned date all tradable instruments on the platform will have fixed leverage according to the above list.
The opening of new trades will be on the newly added instruments of Currency Pairs, Gold and Cryptocurrency (i.e. BTC) which will be subject to the updated margin requirements as outlined by ESMA.
The new symbols will have the specification “.e” at the end of the affected trading pairs (for example, EURUSD.e, XAUUSD.e and BTCEUR.e).
To calculate how much margin will be required to open a position after the change or maintain your current positions, please use HotForex’s margin calculator.
We urge all clients to make sure they have understood the above changes in their trading accounts’ Margin, Stop Out Level and Leverage, and proceed with the necessary adjustments to their trading accounts equity in order to be able to accommodate the new trading conditions without any issues.
At the same time, adjustments might be required on any Expert Advisor for the new symbols and settings.
If you require further clarification or assistance regarding the above changes, kindly contact the Support Team from the official website.
For the original notice of ESMA’s Product Intervention Decisions, please find the PDF file here.