To understand whether HotForex is suitable for you or not, I recommend to pay attention to these 3 things: reputation, trading conditions, and regulation.
For how long the company is in the market?
- HotForex is in the market since 2010.
What are the main advantages here?
- Here you can trade not just from desktops and mobile phones, but from Ipad as well. Broker offers advanced trading tools such as autochartist.
Did you find any reasons not to work with this broker?
- Not really. We made research all around the internet and did not find serious occasions except ones that are listed below on this page.
Does HotForex have swap-free (Islamic) accounts?
- Yes, HotForex is suitable for Middle-East traders.
What is the minimum deposit amount?
- It is possible to start trading at $50.
Is this broker regulated?
- Yes, HotForex is regulated by the CySEC in Cyprus and licensed by the FSB in South Africa.
Anything special about spreads and margin leverage?
- HotForex offers primarily variable tight spreads, but they also offer a specialized fixed spread account for scalpers and automated traders that equates to Interbank spread prices. Leverage also varies by account classification. For Micro, Premium, and VIP, leverage conditions are respectively 1000:1, 400:1, and 300:1.
|Avg rebate per lot||$6.40|
|Trading platform||MT4, Web|
|Minimum trade size||0.01|
Suspicious reviews that we found
Wasted me 2 months for a verification that with other brokers took 2 days and they said that won’t accept documents from father’s name.
And besides that, I was sending multiple documents and had to spend some money to get some bills and copy and to send to them and they always had some excuses like isn’t visible, isn’t bill proof blah blah.
And recently when I send an Internet Bill Proof they said it would be approved and in fact, it didn’t and after asking me to provide another document for me it was absurd to send another and didn’t send any other document so they tried to call me back and email, but didn’t reply to them.*
*We found this review on Trustpilot. The client had issues with onboarding.