HotForex Review – Is This Broker Worth Your While?

HotForex Review

HotForex logoYou are currently reading about HotForex, a multi-asset broker which provides online trading services through multiple account options and diverse trading platforms. Having been founded back in 2010, the brokerage is one of the top choices in the world today due to a variety of reasons, which we will explain in this HotForex review. The broker’s headquarters is in Cyprus, however it has numerous offices all over the world in locations such as South Africa and the United Arab Emirates (UAE).

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Regulation

As its headquarters is situated in Cyprus, the main license given to HotForex is from CySEC, its primary regulator. Additionally, the brokerage does have several other licenses through which it can function in various jurisdictions such as the aforementioned UAE and South Africa, as well as England.

Furthermore, some HotForex entities are in fact registered in different offshore zones, such as Seychelles and Mauritius. While this could worry some investors who might remain hesitant about fully trusting brokerages with offshore registrations, there is no need to worry with HotForex as it is simultaneously regulated by legitimate entities such as CySEC, FCA, and FSCA.

HotForex website

Security

Regarding fund protection, HotForex has you covered. When you choose to trade via this broker, you will be entitled to receive protection on your respective deposits as this is a requirement from the appropriate regulators.

Furthermore, HotForex has made an effort to protect traders and provide additional security via the ‘Civil Liability’ insurance initiative which has a €5,000,000 limit. This program involves market leading coverage regarding all omissions, fraud, negligence, errors, and several other risks which could result in financial losses. It is worth mentioning though that the conditions shall vary depending on a case-by-case basis.

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Account types

There are several account options which are readily provided by HotForex. Firstly, there is a ‘demo account’ function that new traders can use in order to become familiar with and perfect various trading strategies and concepts before switching over to the real thing.

The actual account types on HotForex include the ‘PREMIUM’, ‘ZERO SPREAD’, ‘HFCOPY’, and ‘PREMIUM PRO’ options. There is also an Islamic-friendly account. This diversity when it comes to account types is always a nice touch and it shows that the broker truly does care about its traders from all kinds of different backgrounds and preferences.

Asset index

A great broker will often have a strong asset index. Users are usually interested in trading with kinds of assets and so the brokerage must provide access to these asset types, and thankfully HotForex has done just that.

We observed more than 15 trading tools available on HotForex in addition to over 150 trading products which all provide access to leading global financial markets. Among these, we witnessed several asset types such as bonds, commodities, metals, shares, energies, and even numerous cryptocurrencies such as Bitcoin (BTC), Litecoin, (LTC) Ethereum (ETH), Ripple (XRP), and many more.

Trading platform

When you use HotForex’s services and features, you would be delighted to know that the broker offers both MT4 and MT5 as its main trading software. This shouldn’t be a surprise as MetaTrader is world-renowned for its high quality and accessibility to advanced technology and trading tools via sophisticated configuration.

Moreover, the broker’s trading platform is fully compatible with all web-based devices, and also includes mobile-based trading capabilities. The design is professional and very user-friendly, and it is additionally possible to have both MT4 as well as MT5 accounts at the same time.

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Customer support

Any problem you may face when dealing with HotForex will be fixed in a timely manner thanks to the broker’s qualified and friendly customer support team. What’s more is that the brokerage has language support for more than 25 different languages, so linguistic barriers will rarely be an issue.

Final thoughts

In summary, HotForex is a safe and legit broker which has an abundance of great features and services. Users will always feel secure in a friendly and diverse trading environment with HotForex, and the services are often tailored to the exact needs of the traders. Lastly, the broker is transparent in all of its respective dealings as well as offers some of the lowest rates that you are likely to find.

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