Detailed HotForex Broker Review
Brokerage company HotForex is registered in St. Vincent and the Grenadines. Founded in 2010, the company has managed to work with many traders and investors from around the world. The peculiarity of the broker’s trading conditions lies in the small amount of the initial deposit. With only $5 available, the user will be able to take advantage of the current offer and trade various assets in the financial markets.
General information about the broker:
• Year of foundation – 2010;
• Leading company – HF Markets (SV) Ltd;
• Spread size – from 0.0 points;
• Number of trading instruments – over 150;
• Availability of a regulator – yes, CySEC, DFSA, FCA, FSA, FSC, MiFID.
Trading accounts comparison
The company offers its customers to open any of the following types of accounts:
• Micro (with a minimum deposit of $5);
• PREMIUM (with a minimum deposit of $100);
• Zero (with a minimum deposit of $200, with zero spreads);
• PAMM (with a minimum investment of $250 in a PAMM account).
As you have seen, the initial account can be opened for a small amount. However, there are no hidden fees or commissions. In addition to direct money transfer to the company’s bank account or replenishing the deposit with a bank card, you can also use electronic payment systems: FasaPay, iDeal, Neteller, QIWI, Skrill. There are no restrictions for regions – payments are accepted worldwide with a processing time of a few minutes.
What financial products are available to HotForex clients?
This company offers an extended list of products for trading and investing. The list includes currency pairs, bonds, raw materials, metals, indices / bonds, and even cryptocurrency. Many instruments earn swaps for moving positions from one trading day to another.
What trading tools are available for broker users?
One of the most important tools and assistants to the trader is the Autochartist Tool. This system allows you to analyze graphs and produce a detailed forecast based on mathematical errors and algorithms. This is the first assistant in technical analysis for many people. Since even with a lot of experience it is impossible to take into account more than 100 parameters and conditions of price movement on the chart.
The next auxiliary tool is the economic calendar. It is available online, right from the browser. Therefore, the user will not have to download additional programs for conducting qualitative fundamental analysis. In the calendar you will see all the important economic and political events, indicating the degree of their influence on a particular category of financial instruments.
If you want to minimize the time spent on analytics, use the free SMS alert service. As stated by the broker, it is available in all countries of the world, regardless of the mobile operator. However, only customers with a monthly turnover of trade from 5 lots (total) can use the service. Signals and other important news from the HotForex analytical department will come in the alerts.
Additionally, you can use numerous calculators on the official website (for example, a risk percentage calculator, price levels). HotForex Company does not impose restrictions on the use of auxiliary services. You can install trading advisors and use scalping.
For trading, use the Metatrader 4 or Metatrader 5 trading terminals. Mobile version is downloaded on smartphones and tablets. The site is multilingual, as are the trading terminal versions offered on the site. The client of the broker can become a citizen of any country.
As it turned out, HotForex capital is managed by NinetyEast Fund Services Limited. This is a large consulting company that has insured broker customer deposits totaling more than 1 billion dollars. In addition, financial control is exercised by more than 5 regulators from around the world. Safety of money from HotForex is top notch.
Negative factors in the company could not be found. According to reviews by the client, the payment of the deposit is made stably, without complications and delays.
Established since 2008, Hotforex is gaining popularity among many retail traders. Although most brokers will try to concentrate on large deposits, Hotforex does not neglect small traders. This is evident from the features of their micro-trading account. You do not need a large fortune to start trading, and, moreover, their spreads are quite reasonable. It is not surprising that Hotforex managed to get the World Finance award for 2012.