HotForex is a forex and CFD broker that was founded in 2010. With more than 10 years of experience in business, this broker has got over 2 million clients with live accounts globally. It also supports over 27 languages, making it one of the best brokers for forex and CFD trading globally.
- Low spreads starting from 0.1 pips.
- Free trading account funding.
- $5 minimum deposit for the micro account.
- HFCopy platform to mirror expert traders’ positions.
- Limited asset availability.
- Although it offers a copy trading platform, social trading capabilities are not available.
HotForex – Who Are they?
HotForex is a forex and CFD broker that provides a low-cost trading environment. Products available include forex, commodities, shares, indices, bonds, and ETFs. This broker is regulated by the best world recognised financial authorities, including the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
HotForex has a demo trading account that’s loaded with $100,000 virtual funds to practise trading with before creating a live trading account. What’s more, it supports traders with impeccable learning resources to boost their trading skills. This includes articles, recorded videos, webinars, and more.
The trading account of HotForex is user friendly and easily customisable for all traders. What’s more, various types of accounts are included on this broker’s platform, including the micro account, premium account, HFCopy account, zero spread account, and more. Therefore, you will choose a trading account based on your requirements and experience level.
The platforms available on HotForex are the MetaTrader 4 and MetaTrader 5, which are all ECN/STP supported. In addition, they have advanced trading tools and execute trades seamlessly on desktop and mobile devices, allowing you to trade with your devices anywhere you see fit.
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Our Opinion About HotForex
We conclude that HotForex is a trusted broker. Therefore, feel free to trade with it. This is because it is regulated by tier-one authorities across various countries globally. The broker also stores your trading funds in a segregated account, guaranteeing its safety even when it becomes insolvent.
Opening a trading account is easy and quick, and with a $5 minimum deposit, you get to trade on its micro account. The standard account will require a $100 deposit, which is generally low compared to its peers’ requirements.
HotForex charges one of the lowest trading spreads and commissions, and all transactions are free of charge. Additionally, newbies get to enjoy the copy trading features by mirroring the positions of expert traders. Unfortunately, this broker doesn’t have the social trading feature.
We highly recommend HotForex to novice and expert traders alike since you get to trade with excellent research resources. Learning materials are also available in plenty and good quality, allowing you to quickly improve your knowledge and skills.
HotForex also has reliable customer service that provides relevant solutions to your trading problems. You can reach out to its customer service via phone, email, or live chat. However, their availability is only five days a week, so ensure you schedule your trading activities accordingly.