Is HotForex a nice broker? Let’s review and compare their trading conditions.
Do you live in South Africa? Then please go to HotForex ZA (South Africa) main introduction page.
HotForex, the broker selected by “World Finance 100”, has acquired over 300,000 live trading accounts in 8 years.
Such a professional service has been recognized by world’s traders though, how is it if compared to other FX brokers’?
Let’s review the service of HotForex here!
- HotForex offers only MetaTrader4 trading platform.
Although the MT4 is the most popular trading platform, there is no choice of other trading platforms with HotForex.
- Educational Materials & Market Analysis are available for Free.
HotForex makes sure that traders are provided with necessarily tools to follow the market.
- No Automated Trading Systems are available.
If you wish to benefit from copying professionals’ trades to your account, you may need to use the service of MQL5 Community of MT4.
- HotForex offers average spread 0.1 pips with only $0.6/lot commissions.
In terms of Trading Cost, HotForex is the best among hundreds of FX brokers.
- “The lowest Trading Cost” requires you to deposit over $20,000 as minimum requirement.
There may be not so many traders who can benefit from this “Lowest Trading Cost” condition.
- No Fees/Charges for processing Deposit and Withdrawal Requests.
You don’t get extra charged for managing your funds.
- HotForex offers the maximum leverage of 1:1000.
HotForex’s leverage is twice more than the average leverage offered by standard FX brokers. There are only several FX brokers with this High Leverage.
- NBP(Negative Balance Protection) is fully supported.
Although the leverage is quite high, HotForex makes sure that traders are protected from exceeded loss.
- HotForex strives to offer MT4 platform with STP(Straight Through Processing) execution.
HotForex allows all kinds of trading activities/methods on the MetaTrader4 platform.
- HotForex MT4 is offered with Stable Spreads and Fast Execution.
There are positive reviews on HotForex’s execution quality from many traders.
- HotForex runs all kinds of FX Bonus Promotions.
Including Deposit Bonus, Cash Back and Trading Contest. By receiving them, you can save great trading costs eventually.
- No Deposit Bonus is not offered.
The popular FX Bonus isn’t offered by HotForex yet. HotForex focuses on acquiring traders who are interested in real trading.
- HotForex makes sure all inquiries are responded with answers. No delays or ignoring to customers contacts.
It is great when a FX broker responds to your questions with answers, as there are many which are not like this.
- No troubles of fund withdrawals for over 7 years.
HotForex protects traders and follows the rules of regulatory authorities and compliance.