HotForex Forex Broker Review

General Overview

HotForex is an award winning, licensed and fully regulated online commodities and Forex broker. It offers various kinds of trading software and accounts to trade in commodities and Forex not only for individuals but also for institutional customers and fund managers. It has its headquarters in Mauritius and it has positioned itself as a leader in Forex industry worldwide. Being a financial investment company, HotForex is licensed by Financial Service Commission of Republic of Mauritius under the name of HF Markets Limited. Hot Forex boasts of low cost commissions, high end technology products and unrivaled customer service.

Assets Coverage

Hot Forex offers a lot of assets to trade in like for example Forex, indices, commodity CFDs, metals and oils. It has got more than 40 currency pairs for instance AUD/CAD, EUR/AUD, EUR/USD etc.

Types of Platforms

HotForex offers MT4 platform that allows the user to get access to user friendly front end trading interface with fast execution and interbank liquidity. The MT4 terminal is perfectly equipped that allows the traders to easily trade in the financial markets without hassles. For iPhone users, Hot Forex provides another trading platform called HotForex iPhone Trader that comes with lots of features like live order monitoring, viewing of past trade history, entering instant and pending orders. The trading platform is also available for iPad and android users as well.

Bonus and Promotions

HotForex offers 100% credit bonus which is aimed at increasing the trading volume of the customer’s account. Once the volume requirement of the bonus was met, it can be withdrawn. There is a 30% Rescue Bonus also available which is intended to protect the trader’s account from the draw-down periods. There is another 50% withdrawal bonus available which is very helpful in increasing the leverage.

Deposits and Withdrawals

HotForex accepts a minimum deposit of $100 through bank wire transfer and $5 from credit card and it accepts the following payment methods: VISA, VISA Electron, MasterCard, WebMoney, Skrill, Neteller, FastPay, CashU and Ukash. Hot Forex also provides Hot Forex Debit Card that allows traders to make withdrawals from the account directly onto the debit card within 24 hours of request. It does not require any lengthy paperwork or additional credit checks and this card can give customers the flexibility and freedom they always asked for.

Customer Service

HotForex provides customer service for 24×5 (weekdays) and it is closed on weekends. If one has any queries or problems related to trading, then one can reach the customer care executives through live chat program. One can also contact the representatives through email that are promptly replied without possible delays. The support staff members are very experienced and courteous and take pride in meeting the customer’s help by providing effective service round the clock. It offers customer support in 12 different languages like Arabic, French, Italian, Spanish, Chinese, Greek, Japanese etc.

Verdict

Established in the year 2008, Hot Forex is becoming popular among many retail traders. Like many brokers concentrate on big traders, Hot Forex does not neglect the small traders which is evident from its micro trading account. It is of no wonder that HotForex has managed to grab the award for the best broker from World Finance in the year 2012 and 2013.

 
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Steve Gardner

I am living in London. I am an e-entrepreneur. I have been working in the financial trading industry as a professional since 2003. I am a fan of Chelsea team. I am married. I like cycling.
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