Successful forex brokers always listen to their customers, respond, and go out of their way to keep them happy. HotForex.com, also known as HF Markets Ltd., is one broker that excels at this task, perhaps, to a greater degree than most others in the business. A quick review of their website leads one to believe that every new idea and innovation in the industry can be found at HotForex, judging from the plethora of options and varied product offerings, many bearing “New” next to their names. The firm can offer forex trading, along with CFDs, with as many bells and whistles that any trader, large, small, veteran, or beginner could want.
Formed in 2008 and headquartered in Mauritius, HotForex operates under both FSC compliance in Mauritius, as well as under CySEC regulatory approval in Cyprus for the whole of Europe. The firm has quickly amassed a loyal global customer base (the website can be read in 25 languages) and garnered some 14 prestigious industry awards. Customer deposits are segregated in Tier-1 international banks for safety, and all data transmissions are encrypted by the latest protocols to further ensure security in all areas. Micro accounts start at $5 and progress to Premium and VIP after $20,000, but there are other specialized accounts that access new social trading and zero-spread trading accounts. Bonuses, contests, and awards are plentiful and add extra excitement to the mix.
HotForex is an STP broker that has opened up its liquidity for all types of traders, including scalpers and automated traders. The popular Metatrader4 series is available, but the firm has created a number of additional formats to appeal to the mobile crowd and to other operating systems that may not take well to MT4 downloads. Spreads are tight, and leverage is higher than you will find at most all other brokers. A broad set of deposit options is offered, along with a proprietary debit card that can be used for instant withdrawals. Support materials are top of the line, and customer service is excellent, as well. From the firm’s perspective, “Hot” is an acronym that stands for “Honesty, Openness and Transparency”, and judging from their success to date, their customers approve. Unfortunately, U.S. clients are not accepted at this time.
As of August 1st 2018 new margins take effect. You can read more about it here.
Features at HotForex
Why trade with HotForex.com? The firm lists these reasons:
- Founded in 2008 by industry professionals in the Republic of Mauritius;
- Offers PAMM Accounts only HFSV clients: Account Managers are required to have some of their own money invested in their accounts.
- Regulated by the Financial Services Commission (FSC) in Mauritius and CySEC in Cyprus;
- All deposits are segregated from operating capital in accounts with Tier-1 international banks;
- Trade traditional forex pairs or CFDs for stocks, commodities, and indices with over 200 asset choices in 20 markets;
- MT4 trading platform set-ups, along with customized web-based versions for all operating system access;
- Three standard accounts with escalating benefits: Micro ($5 – $499, Leverage 1000:1); Premium ($500 – $39,999, Leverage 400:1); VIP (Over $40,000, Leverage 300:1); Not applicable for EU clients.
- Additional specialized accounts include a “No-Swap Islamic” account and a Currenex account to provide near zero-spreads for scalpers and automated trading;
- No U.S. clients accepted at this time;
- New social trading features allow a trader to “connect with other traders, discuss strategies and news, follow and copy the most successful portfolios and quickly expand your network by identifying more trading opportunities;”
- Multiple deposit methods supported and proprietary debit card for quick withdrawal applications;
- Website in 25 languages, and half of these supported by customer service 24X5 each trading day;
While most brokers claim to have solved any access problems for you, HotForex actually delivers a state-of-the-art trading platform for every operating system and device out there. Yes, you may download the highly popular Metatrader4 versions, but if you desire a twist on a web-based platform, then look no further – HotForex has you covered with no less than a dozen solutions, each designed to overcome any obstacles that might block your entry. Mobile is truly mobile, any time of day, whether with a phone, a tablet, or a laptop. The latest in 256-bit SSL technology also provides the added security that you expect in today’s Internet world.
Deposits and Withdrawals
Major credit and debit cards are honoured, as well as bank wire transfers. Additional services like Cashu, Skrill (Moneybookers), Neteller, Ukash, mybitwallet, and Webmoney make deposits and withdrawals an easy process. As with all brokers, however, internal withdrawals can only be made if legally mandated anti-money laundering identity information is on file and in order. It is important to follow these guidelines on the front end to prevent delays down the road, although the firm does provide a debit card that can be used at ATMs or at the point of sale for purchase with funds from your account. All deposits are segregated in accounts with major Tier-1 banks, like Barclays.
Customer service reps are truly bilingual, speaking at least 12 different languages. They can be reached “24X5” during every trading day by phone, email, live chat, or even Skype. Training materials are in abundance, as are charting tools, free signal alerts, daily commentary, and more.
HotForex – Conclusion
HotForex is an exceptional forex broker that has gone the extra yard to give its customers exactly what they want. They have re-invented the terms “full-service” and “one-stop-shop”. Spreads and features are very competitive and appeal to all manner of trader, whether they are small or large. All trading strategies are welcome, and specialized accounts have been set up to accommodate different trading modalities. Access is guaranteed, as well, since the firm has taken the time to develop a platform for each and every device and operating system nuance. Variety and comprehensive customer support awaits you, making for a great combination of advantages and benefits that you will not find elsewhere.Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.