HotForex Review for 2019

HotForex Rated 3/5
HotForex have a low rating. We recommend you look at one of their alternative brokers.
Good alternatives to HotForex

HotForex Introduction

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of HotForex we break down the pros and cons. What HotForex are able to offer, what countries HotForex are available in. Who HotForex are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Open HotForex's Website

As with any investment your capital is at risk, losses can exceed deposits.

At the bottom of this review you can also learn about some pretty good alternatives to HotForex

With this review we hope to help you see if HotForex is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding HotForex that will help you get off to a good start in the world of online trading.

HotForex what you should know

HotForex offer five ways to trade: Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

With HotForex you will need a minimum deposit of $5$. You can sign up for a demo account to acquaint yourself with HotForex platform.

HotForex are able to accommodate various levels of traders whether you are experienced or a beginner.


Are HotForex safe?

When choosing a broker like HotForex the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in , and in operation for 2019 years HotForex have a head office in UK.

HotForex is regulated. This means HotForex are supervised by and is checked for conduct by the Financial Conduct Authority regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to HotForex, this will be honored. If HotForex violate any regulatory rules their regulated status could be stripped.

Any payments funded to HotForex accounts by traders are held in a segregated bank account.

For added security HotForex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with HotForex. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit HotForex

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What we like

  • Used by over 10,000 traders
  • Established in
  • Regulated by Financial Conduct Authority
  • Min. deposit from $5$
  • unlimited demo account

What we don't like

HotForex General Fees

  • HotForex withdrawal fees varies on payment method
  • HotForex does charge inactivity fees

HotForex Commissions

  • HotForex does charge commission on CFD shares

What can you trade with HotForex?

You can trade a wide variety of instruments with HotForex over 137 instruments infact.

If you are looking at trading currency pairs HotForex offer over currency pairs.

Compare HotForex with Interactive Brokers and XTB below.

FX / Currencies hotforex IB XTB
# of forex pairs offered 10 50
Major forex pairs Yes Yes Yes
Minor forex pairs No Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No No Yes
Commodity CFDs HotForex Interactive Brokers XTB
# of commodities offered 0
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Indiced & Stock CFDs HotForex Interactive Brokers XTB
# of Stocks offered 1500
UK Shares Yes Yes Yes
US Shares No Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
hotforex's
Instruments
IB's
Instruments
XTB's
Instruments

Trading on HotForex web platforms and other applications

HotForex offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

An HotForex IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

HotForex also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See hotforex's platforms

HotForex Trading benefits :

  • Offers STP
  • Low min deposit

HotForex Trading Accounts offered:

  • Standard account
  • ECN account
  • Islamic account

Can I try HotForex before I buy?

HotForex offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

What funding methods do HotForex accept?

HotForex offer the below funding payment methods. learn more about HotForex

How can I start trading with HotForex?

When opening a trading account with HotForex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on HotForex trading platforms here.

Performing trades with HotForex

HotForex allow you to execute a minimum of trade of varies. This may vary depending on the account you open. HotForex allow you to execute a maxium trade of varies. As HotForex offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, HotForex offer margin up to % on currencies.

Support at HotForex

HotForex support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

What you will need to open an account with HotForex

As HotForex is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore HotForex's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with HotForex you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.hotforex.com on 12th August 2018.

HOTFOREX Frequently Asked Questions

Can I try HotForex before I buy?

HotForex do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do HotForex accept?

HotForex offer the below funding payment methods among other payment methods. Learn more here

How can I start trading with HotForex?

When opening a trading account with HotForex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on HotForex trading platforms here.

Is my money safe with HotForex?

HotForex is regulated by Financial Conduct Authority. One of the most important criteria for traders when choosing a broker like HotForex is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to HotForex, this will be honored. If they violate any regulatory rules their regulated status can be stripped.