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December 10, 2019

Comparison of HotForex's Trading Account Types (MT4 and MT5)

HotForex EU has upgraded some accounts with new conditions.

HotForex - What's now?

After 12 years of rapid growth and becoming a truly global broker of choice with over 3.5 million live accounts opened, on May 2, 2022, HFM is entering a new era with a new name, HFM. Go to the page here to find out more about the new brand.

Do you live in South Africa? Then please go to HotForex ZA (South Africa) main introduction page.

HotForex Trading Account Types Comparison

For investors, there are mainly 6 account types available for traders of HotForex.

Let’s compare the main 4 trading account types which are suited for manual traders, but not traders with EAs (Expert Advisers) or automated trading strategies.

Account Types Micro Premium Zero Spread PAMM (Premium)
Trading Platforms MT4, MT5 MT4, MT5 MT4, MT5 MT4, MT5
Mobile App/Trading Available Available Available Available
Telephone Trading Available Available Available Available
Spread Type Floating Floating Floating Floating
Minimum Spread 1.0 pip 1.0 pip 0.0 pips 1.0 pip
Trading Commission None None $6 per round turn lot None
Required Minimum Deposit $5 $100 $200 $250
Base Currency USD, EUR, NGN USD, EUR, NGN USD, EUR, NGN USD
Lot Volume 100,000 units 100,000 units 1,000 units 100,000 units
Minimum Trading Volume 0.01 lots 0.01 lots 0.01 lots 0.01 lots
Maximum Trading Volume 7 lots 60 lots 60 lots Unlimited
Decimal Points 5 5 5 5
Maximum Leverage 1:1000 1:500 1:500 1:300
Order Type Market Execution Market Execution Market Execution Market Execution
Max Simultaneous Orders 150 300 500 500
Margin Call % 40% 50% 50% 50%
Stop Out % 10% 20% 20% 20%
Bonus Promotions Available Available Unavailable Unavailable

The above table shows HotForex’s 4 main trading account types which give the best conditions for manual traders.

Open HotForex Real or Demo Account

Now let’s see HotForex’s 2 trading account types which are prepared for traders who want to benefit from automated trading, EAs (Expert Advisers) and Copy trading.

Account Types Auto HF Copy
Trading Platforms MT4 MT4
Mobile App/Trading Available Available
Telephone Trading Available Available
Spread Type Floating Floating
Minimum Spread 1.0 pip 1.0 pip
Trading Commission None None
Required Minimum Deposit $200 $100
Base Currency USD, EUR, NGN USD
Lot Volume 100,000 units 100,000 units
Minimum Trading Volume 0.01 lots 0.01 lots
Maximum Trading Volume 7 lots 60 lots
Decimal Points 5 5
Maximum Leverage 1:500 1:400
Order Type Market Execution Market Execution
Max Simultaneous Orders 150 300
Margin Call % 50% 50%
Stop Out % 20% 20%
Bonus Promotions Unavailable Unavailable

As you can see the above 6 trading account types’ trading conditions.

Each account type of HotForex has different trading conditions, and each of them is specifically designed for certain types of traders.

With HotForex, you can choose the trading account which is the best for your trading style, or you can also open multiple trading accounts to diversify your strategy and manage your funds separately.

HotForex is an international Forex broker with multiple financial licenses from all over the world.

The trading conditions and the account types available for your region may not be as described above.

To find out the trading condition available for your region, please go to HotForex Official Website.

IF you reside in Africa, please go to HotForex ZA (South Africa) Official Website which is dedicated for investors in Africa with the proper financial license.

Go to HotForex Official Website

Which HotForex’s Trading Account is the Best?

As shown above, HotForex has 6 different trading account types available for its traders.

While all trading account types require a very small amount of minimum deposit amount such as $100, each account type has different advantages and features.

Due to their different characteristics, we cannot define which trading account of HotForex is the best for trading but we can still point out the important points of each trading account type.

1. HotForex Micro Account

HotForex’s Micro account type is the account type suited for beginners in the Forex market.

With this account type, you can start trading Forex and CFDs from only 5 USD of minimum deposit amount (or equivalent amount in EUR and NGN).

If you are new to the Forex market or wants to try out the trading conditions of HotForex, then you may open HotForex’s Micro account to start trading with a small amount of deposit.

The main advantage of HotForex’s Micro account is the leverage.

HotForex’s Micro account is the only account type which offers 1:1000 high leverage among other account types.

By using HotForex’s 1:1000 high leverage, you can place orders or a large volume even with a small amount of fund in your live trading account.

Using high leverage involves higher risks of losing more funds, so you need to be careful but the “leverage” itself can be a great trading tool.

Do you want to start trading with HotForex’s Micro account first?

Go to HotForex Official Website and open your Micro account today.

As HotForex allows its traders to open multiple trading accounts and manage them under the same profile, you can open other account types after practice trading with the Micro account first.

Go to HotForex Official Website

2. HotForex Premium Account

HotForex’s Premiums account type has some superior conditions than the Micro account type.

HotForex’s Premiums account is suited for traders who already have experience in the Forex market or professional traders.

With HotForex’s Premiums account, you can trade up to 60 standards lots per order, while you could place only up to 7 standard lots in HotForex’s Micro account type.

The number of simultaneous orders on HotForex’s Premiums account is more than 300.

If your trading strategy requires a large trading volume and a large number of orders to be placed at the same time, then HotForex’s Premiums account is recommended.

To get this advantage with HotForex’s Premiums account, you only need to deposit 100 USD or equivalent amount in EUR and NGN.

Although you can earn the maximum benefit with HotForex’s Premiums account, the leverage is limited to 1:500.

The leverage up to 1:500 is still very high in the Forex market, so it shouldn’t be a demerit for many types of traders.

Also with HotForex’s Premiums account, the stop out level 20% which is higher than the Micro account.

It is a small difference but can make a big difference depending on the strategy, so you may want to consider the condition when choosing your trading account type.

Do you want to trade more with HotForex’s Premiums account?

HotForex Official Website

3. HotForex Zero Spread Account

HotForex’s Zero Spread account type literally provides you with a number of Forex currency pairs with 0.0 pips spread.

Zero spread means that the bid and ask prices are at the same level.

With such an extreme low spread, you can trade frequently as it is suited for Scalping trades.

The spread you will see on HotForex’s Zero Spread account is practically the “Raw Spread” which means that there is no mark-up of spread on the original spread.

With other trading account types, HotForex adds the mark-up spread on the original spread thus the provided spread is wider than HotForex’s Zero Spread account type.

The mark-up spread is how HotForex makes profit, but in case of HotForex’s Zero Spread account, there is no mark-up spread thus HotForex wouldn’t make any profits from it.

This is why there is an additional trading commission charged on HotForex’s Zero Spread account.

The trading commission starts from $6 per round turn lot on USD major currency pairs.

For other current pairs, the commission may be higher.

You can find more details about trading commission of HotForex’s Zero Spread account in HotForex Official Website.

Go to HotForex Official Website

4. HotForex PAMM Premium Account

Are you a money manager and has your followers?

Use HotForex’s PAMM Premium account to use the whole system for free with HotForex.

HotForex’s PAMM Premium account isn’t a normal account for any investors, but it is created for money managers who want to manage other investors’ funds through HotForex’s system.

Instead of using other broker’s complicated money management systems or LPOA contracts, HotForex’s PAMM Premium account lets you use the full scale of HotForex’s trading system through the PAMM Premium account.

HotForex’s PAMM Premium account has 2 main types, which are a Premium or Premium Plus Account.

The main difference is how the spread and trading commissions are charged.

With the PAMM Premium account, the spread is from 1.1 pips and there is no extra trading commission.

With the PAMM Premium Plus account, the spread is from 0.3 pips and the trading commission is $5.00 per 100,000 USD traded ($10 round turn).

Depending on your trading strategy, you may choose HotForex’s PAMM Premium account type.

Are you are money manager?

Use HotForex’s PAMM Premium accounts to manage your followers’ accounts and earn more.

Visit HotForex Official Website

5. HotForex Auto Account

HotForex’s Auto account type is created for traders who want to subscribe to free and paid Trading Signals from the MQL5 Community.

HotForex’s Auto account provides you with the optimal condition for automated Forex trading through MQL5 community.

The leverage is up to 1:500, the spread is from 1 pip and variable, the maximum order volume is 60 lots per order and the maximum number of simultaneous orders is 300.

These are the very standard yet superior conditions for automated trading and can adapt to almost any type of automated trading signals provided on the MQL5 community.

When opening HotForex’s Auto account and logging in the MT4 trading platform, the MQL5 community option is already built-in to the platform.

You do not need to download other software or knowledge, but everything you need is provided on MT4 trading platform with HotForex’s Auto account.

Go to HotForex Official Website

6. HotForex HFCopy Account

HotForex’s HFCopy account type is dedicated for traders who are seeking for social and copy trading system of HotForex, but not MQL5 or PAMM trading services.

HotForex’s HFCopy account is for both strategy providers and followers.

You can open HotForex’s HFCopy account to become a strategy provider, if you are a professional trader and wants other investors to follow your trading by copying in real-time.

Investors can freely copy your trades to their accounts in real-time, and as a compensation, strategy providers can receive “performance fees”.

The performance can be set from 0% to 50% as you like.

If you are an investor and want to copy trades of professional traders to your live trading account, then you can open HotForex’s HFCopy account as a follower.

HotForex’s internal system smoothly processes all orders in real-time and both strategy providers and followers can benefit from this account type.

With HotForex, you do not need to pay for third party service providers for social and copy trading.

All you need to do is to open HotForex’s HFCopy account.

Visit HotForex Official Website

Use both HotForex MT4 and MT5

HotForex provides its traders with both MT4 and MT5 trading platforms.

Both MT4 and MT5 trading platforms are 2 of the most popular trading platforms in the Forex market.

HotForex MT4 and MT5 are available to download for free on HotForex Official Website.

With HotForex, you can use both MT4 and MT5 simultaneously by installing both on your device.

Note that you cannot use HotForex MT4’s login credentials to use HotForex MT5.

To use both trading platforms for trading, you need to open MT4 and MT5 accounts separately with HotForex.

Difference of HotForex MT4 and MT5

MT4 and MT5 sound and look almost the same, but there are many differences in terms of its functionality and available trading tools.

MT4 has been the most popular trading platform in the world.

Developed by MetaQuotes, the company has built the new trading platform, MT5.

MT5 is much superior to MT4 in various aspects, and you can see the main differences between HotForex Mt4 and MT5 trading platforms in the list below.

  1. MT5 has 21 timeframes while MT4 has only 9 timeframes. With more timeframes to set the chart differently, you can flexibly plan your strategy and monitor the market.
  2. MT5 has 38 technical indicators while MT4 has only 30. The technical indicators can be used to perform technical analysis and read the market trend by analysing the past price movements. With MT5, you have more options to analyse the market technically.
  3. MT5 has 44 analytical objects and MT4 only has 31. These analytical objects can be applied on price charts to analyse the market price movement. With more objects on the chart, you can analyse the market more precisely.
  4. MT5 has Built-in Economic Calendar but MT4 doesn’t. On MT5, you can directly refer to the economic calendar which shows the upcoming important market events that may affect the market prices and trends. With MT5, you don’t need to use other third party services to refer to an economic calendar.
  5. MT5’s processing speed is 64 bit multi-threaded, while MT4’s is 32 bit mono-threaded. MT5 has more options for servers and markets, and the execution speed can be improved greatly on the platform.
  6. MT5 has 6 pending order types while MT4 has only 4. The pending orders can help you set up your orders to prepare for the future market movement. With MT5, you can set up your orders more flexibly with these 6 pending orders.

These above differences clearly show how MT5 is superior to MT4, but that doesn’t mean that MT5 is always the best choice.

Of course, MT5’s advanced chart features and trading tools are not required if your trading strategy does not require such tools.

Also, MT4 has been a long-time popular trading platform, and there have been built countless number of EAs (Expert Advisers) and custom indicators that you can get for free or purchase online.

IF you haven’t decided which one to use, you may open both MT4 and MT5 trading accounts to try both to see the usability on the platforms.

Go to HotForex Official Website

Improved Conditions of Premium, Zero, Auto accounts

hotforex-eu-trading-condition-leverage-commission

As a forward-thinking broker, HotForex maintains the position as a market leader by always looking for new ways to enhance clients’ trading environment.

In light of this, HotForex has announced the following changes affecting the opening of the new account(s) and the trading conditions of your existing account(s).

1. New Account Leverage

Please note the following changes to the maximum leverage available for Premium, Zero, and Auto accounts:

The changes are applied to traders of HF Markets (Europe) Ltd.
Acount Types Previous Maximum Leverage NEW Maximum Leverage
Premium 1:400 1:500
Zero 1:200 1:500
Auto 1:400 1:500

Check out the latest Trading Conditions

2. New Minimum Deposit Requirement

At the same time, the required minimum deposit amount are also changed for the following account types.

Please note the following changes to the minimum deposit required for Premium, Zero and Auto accounts:

Acount Types Previous Minimum Deposit NEW Minimum Deposit
Premium $500 $100
Zero $100 $200
Auto $500 $200

3. New Trading Commission

Please note the following changes to the commission charges for any major/minor position opened in a Zero account:

Previous Trading Commission NEW Trading Commission
8/12 USD 6/8 USD
100/155 ZAR 80/110 ZAR

Open HotForex Real or Demo Account

4. New Minimum Trade Size

Please note the following change to the maximum trade size for Micro accounts:

Previous Maximum trade size NEW Maximum trade size
5 standard lots 7 standard lots

If you require further clarifications or assistance regarding the above changes, kindly contact HotForex Support Team.

HotForex’s team will remain at your disposal and are happy to help you understand the changes and adjust your trading so as to help this transition be as seamless as possible.

Go to HotForex Official Website

Financial Markets you can invest with HotForex

With HotForex, you can invest in over 1000 financial markets through one trading account you opened.

There are various financial markets that you can monitor and trade on HotForex MT4 and MT5.

In terms of the diversity of products and the number of trading opportunities, it is almost unlimited.

Each financial market has different characteristics and trends, and even if your trading strategy does not make much profit on a market, it could work well when you just change the market to trade.

The available financial markets on HotForex MT4 and MT5 are Forex, Precious Metals, Energies, Stocks, Stock indices, Bonds, Commodities, DMA stocks, ETFs and Cryptocurrency.

You haven’t decided which market to trade?

Let’s see the characteristics of each financial market to grasp the overall picture of each market.

Characteristic and Trend of each currency in the Forex market

1. Forex Currency Pairs

Forex currency pair is obviously the most popular market to trade.

Forex market is by far the largest financial market in the world, and with HotForex, you can take part in the market directly through HotForex MT4 and MT5 trading platform.

On HotForex MT4 and MT5, you can trade major, minor and exotic currency pairs.

Each currency pair has a different trend and also the way they react to economic news is also different.

By trading multiple currency pairs and grasping the market trend and the characteristics, you may be able to find the best currency pair to trade with your trading strategy.

Trade Derivatives on the world’s most popular FX pairs with a trusted global broker.

Trade Forex with HotForex

2. Precious Metals and Energies

Precious metals such as gold and silver are also very popular financial products.

On HotForex MT4 and MT5, you can trade Gold, Silver, Platinum and Palladium.

These 4 precious metals can be great for portfolio diversification.

Why the diversification of your portfolio is important, it is because you can make a profit on other markets by using the same trading strategy when your trading strategy fails to make a profit with others.

With HotForex’s precious metals, you can trade with low spread and cost, and also trade at convenient trading hours.

Expand your investment portfolio by trading Derivatives on Gold and other Spot Metals, and derivatives on Crude Oil and Natural Gas.

Trade Precious Metals with HotForex

3. Stocks, Index and Bonds CFDs

HotForex offers derivatives on the Shares of top-performing international companies with low margin requirements and costs.

Along with hundreds of stocks on HotForex MT4 and MT5, you can also trade derivatives on the world’s leading Indices and explore your opportunities on the stock market, and on bonds issued by the world’s leading economies.

HotForex has also recently reduced the margin requirements for trading of stock index CFDs, so you can trade stock index CFDs with only a small amount of margin.

Have you been trading real stocks to make a profit from the difference in market prices?

Then you might find HotForex’s Stock and Index CFDs better because of their trading commissions, high leverage and the flexible trading hours.

Trade Stocks, Indices, Bonds with HotForex

4. Commodities

On HotForex Mt4 and MT5 trading platforms, you can also invest in commodities.

They are the soft commodities that you may feel very familiar in your daily life, such as US Cocoa, Coffee, Copper, US Cotton and Sugar.

With HotForex, you can invest in these commodities to diversify your portfolio by trading Derivatives on the world’s most popular soft commodities.

To trade these soft-commodities, you do not need to open another account but you will get instant access to global markets through one account.

On HotForex’s 12 advanced trading platforms, you can trade commodities with the low margin requirements.

Trade Commodities with HotForex

5. DMA Stocks

DMA Stock is a new category on HotForex MT4 and MT5.

Stocks DMA allows you to place your trades directly on the order books of global stock exchanges.

HotForex is one of a few brokers in the world that lets you trade DMA Stocks.

Are you new to the DMA Stocks?

Go to the page below to find out more about DMA Stocks today.

Trade DMA Stocks with HotForex

6. ETFs

ETFs is a rare and popular financial market to invest.

With HotForex, you can invest in a wide range of ETFs from around the world.

There are many sectors you can invest in.

On HotForex, you can trade ETFs from Aerospace & Defense, Basic Materials, Commodities, Consumer Discretionary, Consumer Staples, Currency, E-Games/Sports and betting, Energy, Equity Markets, Financial Sector, Fixed Income, Health Care, Information Technology (IT), Media & Publishing, Mining, Pharmaceuticals, Real Estate, Technology, Telecommunications, Transportation / Aerospace and Utilities sectors.

ETFs can be the most popular and cost-effective way to diversify across markets, sectors, currencies and commodities.

Trade ETFs with HotForex

7. Cryptocurrency

Cryptocurrency is the newest financial market and the value of the overall market is expanding every month rapidly.

With HotForex, you can trade Cryptocurrency in pairs with other currencies.

In case of HotForex, you don’t need to open a Crypto account or own the actual Cryptocurrency, but you can solely speculate on the price movement of Cryptocurrency pairs with high leverage, without owning the risk of default.

Trade Derivatives on popular cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin on HotForex MT4 and MT5.

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