HotForex.com Review 2018 – An Established CFD Broker

Last updated & tested: 20.10.2018

HotForex.com is a popular online exchange that offers a wide variety of assets to buy and sell. HotForex.com also offers many different types of trading accounts that you can choose from. So, whether you are a beginner trader, or whether you have decades of trading experience under your belt, Hotforex.com can be perfect for you. Here is a closer look at the HotForex exchange and an explanation of all of its key features. This HotForex.com review is full of great information which can help you evaluate this exchange.

Highlights
  • HotForex.com is a popular online exchange
  • HotForex offers many different assets
  • There are multiple trading account options for HotForex
  • HotForex can accommodate traders of all skill levels
12.
of 20 CFD Broker
HotForex
HotForex experiences
Trader Rating
Go to HotForex opinions
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Risk warning: Capital can be lost. Terms and conditions apply.
Headquarters and regulation

St. Vincent and Grenadines (St. Vincent and Grenadines Government)

Fees and Spread

Spread only

Lever

up to 1:30

Mini contracts tradable

Yes

Trading platform

MT4, Broker-owned Software

Mobile Trading & Apps

Demo account

Yes, unlimited

Number of indices

11

Minimum deposit

£ 5

Services & additional benefits

Live
Hotline
E-mail
Economic Calendar
E-Book
Videos
Courses/Seminars

1. Trading Offer

1) CFD Trading Offer: Many Different Assets are Available for Trading on HotForex

HotForex offers 7 different assets for trading. These assets are forex, metals and energy, indices, shares and commodities, shares commodities, cryptocurrencies, and bonds. Cryptocurrencies are a newly added asset for trading on HotForex. They were added because this asset class is steadily growing in global significance.

11
Indices
Number
7
Raw materials
Number
53
Stocks
Number

As per this HotForex.com review, contract for difference, or CFD, trading is allowed on HotForex. CFD trading is a form of derivative trading in which traders can speculate on the prices of various assets without having to actually own the asset. With CFDs, traders can go long or short, meaning that they can be on the asset to go up in price, or to go down in price. So, no matter whether you believe an asset will increase or decrease in value, you can easily place your bet with CFD trading on HotForex.com. HotForex offer indices from many different nations for trading. These nations include Japan, Australia, the Netherlands, Spain, Switzerland, and many others.

Trader Rating
HotForexreview_summary_group_1_image
  • HotForex.com offers many different assets for trading, they include forex, metals and energy, indices, shares and commodities, shares commodities, cryptocurrencies, and bonds
  • CFD trading is available on HotForex
  • The HotForex broker offers indices from many different nations
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Risk warning: Capital can be lost. Terms and conditions apply.
2. Costs

2.) CFD Trading Costs: HotForex has Reasonable Fees

Fees for HotForex are not standard commissions. Instead, they are done in the form of spreads. This means that a percentage of the difference between the buy price and the sell price is taken as a fee for each trade. On HotForex.com, the spreads start at roughly 1 pip and go up from there. The exact spread will depend on which asset you are trading. Generally, however, the spreads are more reasonable on HotForex.com then they are on other similar sites.

1:30
Max Lever
0.6
FTSE spread
£ 5
Minimum deposit
Yes
Mini contracts
Tradable

HotForex also offers leverage that is not significantly higher than many other online brokers. The leverage offered by HotForex is as high as 30:1. This means that you only need to put up a small amount of money in order to trade very high volumes of assets on HotForex.com. However, you need to make sure that you get your trades right, otherwise you could end up owing a lot of money if you trade on leverage. There are no account inactivity fees on HotForex.com.

Trader Rating
HotForexreview_summary_group_2_image
  • HotForex has reasonable fees as they charge by the spread and do not charge standard commissions
  • Leverage is as high as 30:1 on HotForex
  • There are no account inactivity fees on HotForex
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Risk warning: Capital can be lost. Terms and conditions apply.
3. Account

3) Accounts: HotForex has a Wide Variety of Account Types to Choose From

HotForex.com offers 8 different account options. This is more options than many other online brokers offer. The 8 accounts offered by HotForex are the Micro, the Premium, the Zero, the Fixed, the VIP, the Auto, the PAMM, and the HFCOPY. All of these accounts have minimum deposit amounts and most have them have spreads that start at 1 pip. The Micro is the most basic account and it is the best one for beginners to use.

The minimum deposit for the Micro is only $5. However, there is a leverage of up to 30:1 on the Micro. The most advanced account is the VIP account. The VIP account has a minimum deposit of $20,000. So, only highly advanced traders and people who want to trade large sums of money should use the VIP account. The VIP account has a maximum leverage of 30:1. All of the other accounts have minimum deposits that are between $5 and $500.

Trader Rating
HotForexreview_summary_group_3_image
  • HotForex offers 8 different accounts with the Micro account beinf the best account for beginners
  • The VIP account is the best account for advanced traders
  • All of the accounts have minimum deposit requirements
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Risk warning: Capital can be lost. Terms and conditions apply.
4. Platform

4.) CFD Trading Platforms & Mobile Trading: HotForex has no Shortage of Trading Platforms

A good broker comparison or HotForex review would tell you that HotForex offers many different trading platforms for you to choose from for your trading needs. In fact, there are 8 different platforms to choose from on HotForex.com. These platforms include the HotforexMT4 Terminal, the HotForex MultiTerminal, the MetaTrader4 Web Terminal, the HotForex iPhone Trader, the HotForex iPad Trader, the HotForex Android, Smartphone Forex Trading APP, and the Rapid Trader Fix/API.

MT4
metatrader
MT5
metatrader
IOS
Android
Broker owned Software

So, these platforms can support desktop users, tablet users, and smartphone users. No matter which device you prefer, there will be a platform available to you on HotForex.com. These platforms all have useful features such as advanced charts with technical analysis and live monitoring of prices. Being able to use the charting and technical analysis features can be extremely helpful for making intelligent trades. However, you will need to make sure you possess the required skill before being able to use charts and TA effectively.

Trader Rating
HotForexreview_summary_group_4_image
  • The HotForex broker has 8 different trading platforms. These trading platforms can accommodate desktop, tablet, and smartphone users
  • HotForex’s trading platforms include features such as live price monitoring and advanced charts
  • Technical analysis is possible with HotForex’s chart features
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Risk warning: Capital can be lost. Terms and conditions apply.
5. Usability

5.) Usability of the Website: HotForex.com is Well-Designed and is very Easy to Use

It is very easy to navigate HotForex.com. The tabs on the top of the home page can take you to anywhere you need to go on the site and all of the important information can be easily found. These tabs are: About, Products, Platforms, Tools, Education, Promotions, Partners, and Investments. The site uses a darker color scheme with black and white being the primary colors on the site. However, there is also some red. According to this review of HotForex, this color scheme works very well. However, another review of HotForex may say differently.

The legal information is easy to find under the About tab. However, it is difficult to find the terms of business on the site. So, this is a disadvantage of HotForex. But the top products are very well advertised. It is also easy to figure out how to set up an account and get started. So, if you just want to create an account and start trading without looking at the terms of business, then this should be no problem.

Trader Rating
HotForexreview_summary_group_5_image
  • HotForex.com has a clean an user-friendly design
  • It is easy to find all relevant information on the site except for the terms of business
  • The color scheme is black and white and the tabs make it easy to navigate the site
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Risk warning: Capital can be lost. Terms and conditions apply.
6. Support

6.) Customer Support: HotForex has Good Customer Service

HotForex.com has great customer support. In fact, it is one of the reasons why the anwer to the question “is HotForex a good broker?” is yes. There are three different excellent customer support contact options for HotForex. These options are email, live chat, and phone. The email address for HotForex is [email protected]. The phone number is +44-2033185978. The live chat can be accessed by clicking on customer support on the website and then clicking on live chat.

E-Mail
Telephone
Live-Chat
On the spot

The mailing address for HotForex is:

HF Markets (SV) Ltd.
Suite 305,
Griffith Corporate Centre,
P.O. Box 1510, Beachmont
Kingstown,
St. Vincent and the Grenadines

If you would rather contact HotForex through snail mail, then you can send letters to this address. However, the response time will be much slower. The fastest way to contact HotForex is either by phone or by livechat. Both of these options will give you a response almost immediately unless there is a short wait time. Email responses typically take a few hours to a few days. Customer service is available Monday through Friday.

Trader Rating
HotForexreview_summary_group_6_image
  • HotForex has multiple customer service options. These options include email, live chat, and phone
  • Phone and live chat are the fastest options
  • You can also contact HotForex through snail mail if you would prefer this option
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Risk warning: Capital can be lost. Terms and conditions apply.
7. Payment

7.) Methods of Payment: HotForex is Flexible When it Comes to Payment Methods Accepted

HotForex.com accepts many different payment methods. These payment methods include bank transfers, credit cards, debit cards, and online wallets. The online wallets that HotForex accepts are Skrill, Neteller, UnionPay, and WebMoney. So regardless of which payment method you prefer, there is a very good chance that HotForex.com will accept it.

  • banktransfer
  • creditcard
  • neteller

If your preferred payment method is not accepted, then you can easily switch to one that is. If you have been asking, “is HotForex a good broker?” well, deposits and withdrawals are completely free on the site and there are no additional fees added to them. All account types of minimum deposit amounts. These minimum deposit amounts vary widely from account to account. They range from $5 all the way to $20,000. You should choose the account type which has a minimum deposit amount that makes sense for you and your financial situation. If you are a beginner, stick to the accounts with smaller minimum deposit amounts.

Trader Rating
HotForexreview_summary_group_7_image
  • HotForex offers accepts many different payment methods which include bank transfers, credit cards, debit cards, and online wallets
  • It is free to deposit and withdraw money on HotForex.com
  • The minimum deposit amount varies widely depending on which account type you choose
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
8. Offers

8.) Additional Offers: HotForex has Many Additional Offers Besides Trading Platforms

In addition to offering many different account types and trading platforms, HotForex.com also offers a number of other helpful things as well. For example, HotForex.com offers an education section. This section consists of e-courses, video tutorials, FAQs, and webinars. The education section is quite extensive and is a great place to learn the basics of trading CFDs and other assets.

E-Mail
Economic calendar
E-Book
Videos
Courses or Seminars
Demo Account

HotForex also offers many different tools which can be extremely helpful for investors. These tools include an economic calendar, a trader’s board, an autochartist tool premier trader tools, trading calculators, forex news, and more. So, if you are looking for a trading platform that offers more than just the basic run-of-the-mill trading platforms and accounts, then HotForex could be a great choice for you. HotForex is very well-rounded when it comes to additional offerings. The educational tools are great for new traders, and the advanced trading tools are great for experienced traders.

Trader Rating
HotForexreview_summary_group_8_image
  • HotForex offers many additional things besides just trading platforms and trading accounts that enable the buying and selling of assets
  • These additional materials that include educational tools can be extremely helpful for new and experienced traders
  • The additional materials make HotForex.com very well-rounded
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Risk warning: Capital can be lost. Terms and conditions apply.
9. Regulation

9.) Regulation & Deposit Protection: HotForex is Licensed and Regulated

According to this HotForex trading platform review, HotForex is a licensed and regulated exchange. It is licensed in St. Vincent & the Grenadines as an International Business Company with the registration number 22747 IBC 2015. Because it is licensed and regulated, traders and investors can deposit money and trade with confidence knowing that the exchange that they are using is legitimate. Many people ask “is HotForex legit?” The answer is yes, it is very legit.

St. Vincent and Grenadines Government
Regulatory Authority
MIFID II
No
0
Dep. Protection

HotForex uses SSL encryption to protect the security and the privacy of its users. Essentially, the HotForex exchange is a well-respected and safe exchange. If you are looking for an exchange with a good reputation, and that is licensed and regulated, then this one could be a very good one for you to use. The money you deposit will be safe and so will the assets that you buy and store on the exchange. This is crucial considering many traders buy assets worth tens of thousands, hundreds of thousands, or even millions of dollars. HotForex has deposit protection.

Trader Rating
HotForexreview_summary_group_9_image
  • HotForex is licensed and regulated
  • It is licensed in St. Vincent and the Grenadines
  • HotForex has deposit protection
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Risk warning: Capital can be lost. Terms and conditions apply.
10. Awards

10.) Awards: HotForex Has won Many Awards

A good HotForex trading platform review will tell you that HotForex has won a large number of prestigious awards. In fact, HotForex advertises on its site that it has won 20 awards. These awards include: Best Forex Broker South Africa 2016, Best Forex News and Analysis Provider, 2016, Best Customer Service 2015, Best Client Funds Broker Protection Award, 2015, Business Excellence 2015, Best Forex Online Broker 2015, Best Client Fund Security 2014, and more.

Anyone who has asked, “Is HotForex Legit?” should be able to tell from all of these awards that it definitely is. Winning 20 industry awards is a major accomplishment for an online broker and it is truly impressive that HotForex.com has won so many. Many other online exchanges have not won any awards, or have only won one or two. So it really says a lot about HotForex.com that it has won 20.

Trader Rating
HotForexreview_summary_group_10_image
  • HotForex.com has won 20 industry awards which proves that it is extremely legitimate
  • Some of the awards that it has won include Best Forex Online Broker 2015 and Best Client Fund Security 2014
  • HotForex.com has won many more awards that many other online brokers
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Risk warning: Capital can be lost. Terms and conditions apply.

Conclusion : Is Hotforex worth opening an account with

It can be difficult at times to tell which is the best CFD broker. However, the fact that HotForex.com has won 20 industry awards, and that it has so many trading platforms and account types really go a long way toward indicating that this broker could be the best one.

HotForex.com just has so many different options for asset classes, platforms, account types, and other offerings. The site is also extremely well-designed and is laid out in such a way that it is very user-friendly. Essentially, the HotForex.com site is great for anyone who wants to either learn more about trading or who wants to open a trading account and begin trading ASAP.

You don’t even need a lot of money to get started trading on HotForex.com because the leverage is so strong. If you are doing a CFD broker comparison, then it should be clear to you that this is one of the best brokers available online. HotForex.com CFD trading is easy, convenient, and cost effective. So, you should strongly consider HotForex CFD trading if you are looking to do CFD trading online.

Strengths

  • Low fees
  • 3 contact options
  • 20 awards
  • 7 asset classes

Weaknesses

  • Terms of Business are hard to find
Test result
Total

Ratings
0
Broker
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Risk warning: Capital can be lost. Terms and conditions apply.
HotForex
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Risk warning: Capital can be lost. Terms and conditions apply.

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