HotForex is quite new to the Forex trading market concerning the popularity and brand awareness, even though the company has been in operation since The broker has recently re-invented its customer-oriented attitude by offering an excellent customer service platform, which has enabled the company to receive a ton of awards from several recognized institutions from Europe, Asia, Africa, and the Middle East.
The primary requisite for any broker to achieve recognition in the Forex trading industry is to listen to their customers, which is exactly the strategy that HotForex followed to achieve immense success among global retail traders. HotForex is also extremely popular among Introducing Brokers and affiliates, and it is indeed seen as a positive approach by the company to promote its brand among lesser known markets.
HotForex regulation is also one of the hot topics of discussion among traders, as HotForex is one of the few brokers that have multiple regulatory statuses throughout the world. HotForex is regulated by the St. It is interesting to note that the broker has based its corporate offices in some of the highly popular tax havens in the world, which can be a bit of an issue with traders from countries such as the US and Australia.
Nevertheless, almost all the modern regulatory organizations these days are committed to the welfare of traders in general, which is a good thing, considering that the number of scams is increasing on a day-by-day basis. However, when it comes to choosing an account, HotForex provides nine different types of accounts, which is a lot for the average trader. In our opinion, the leverage is too high for a Forex trader, but larger accounts have comparatively rational leverage to the tune of 1: The different types of trading accounts are as follows:.
The Auto and HF Social accounts are social trading accounts that allow investors to copy trades from other successful traders. On a positive note, HotForex offers an account for every type of trader, which is one of the reasons why HotForex continues to be a popular FX broker among modern traders. The HotForex spreads are also highly competitive, and the spreads starting from 1 pip for the standard accounts are acceptable. All accounts have access to the full range of trading instruments, and can be traded using the MT4 as the standard HotForex trading platform.
Meta Trader is the most commonly used and highly popular trading terminal for Forex traders, which has prompted HotForex to utilize several versions of the MT4 terminal across its different account offerings. The MT4 MultiTerminal can be used to manage multiple accounts, and is a useful tool for PAMM account holders or for traders who trade on multiple investor accounts. HotForex is one of the very few mainstream Forex brokers that offer a bonus, and along with exceptional trading conditions, traders will find the bonus to be quite useful in trading.
You can receive a bonus by just verifying your trading account, making a deposit, and by choosing your deposit bonus. Deposits are taken care of through credit cards, bank transfers, online payment processors and e-wallets such as Skrill and Neteller. Traders can make instant deposits and withdrawals. However, withdrawals do take some when compared to the time required for deposits.
Accepting a bonus also puts several trading conditions into play, which should be satisfied before making a withdrawal request. HotForex has multiple channels for customer support, including live chat, web contact form, active phone numbers, emails, and multi-lingual support.
HotForex provides all the tools and services needed for clients of any level to realise their trading ambitions. Other Forex Brokers Reviews xm.More...