Users can also access free demo trading accounts and Islamic swap-free accounts. With HotForex users can trade on the MetaTrader 4 and MetaTrader 5 trading platform for desktop, web and mobile trading applications. Users can also access a range of trading tools, research and education such as AutoChartists and live webinars. Demo : Open Demo Account. Max Leverage : Publicly Traded : No. Commission on Trades : No. Fixed spreads : No.
Mobile trading : Android, iOS. Accepts US Clients : No. The broker also offers accounts, to some users based on their location, from their St. Vincent and the Grenadines as an International Business Company, as shown below:. While the HotForex St. Vincent and the Grenadines arm, HF Markets SV Ltd, is not regulated they do advertise security of client funds in several ways, as shown below:.
Trading costs such as spreads, commissions and overnight funding swap rates vary depending on the instrument being traded and the account type opened. The broker also offers a free demo trading account and Islamic swap-free accounts.
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Different accounts are available under different regulated entities. As such, some accounts are only available under specific regulation and not under the other. They also offer free demo trading accounts and Islamic swap-free accounts. Every account except the Zero Spread account comes with commission-free trading on Forex pairs with spreads starting from 1 pip. The Zero Spread account offers spreads from 0 pips on Forex but with commissions per trade which are detailed later on in this review. This will then redirect you to a registration page, as shown below:.
Once this has been filled in, users are then able to start in just 3 steps after confirming your email address and then entering the myHF Area to open a trading account, as shown below:. Once logged in to the myHF Area, users can open new trading accounts, access free VPS services, view the different trading tools and deposit and withdrawal methods.
To complete the account opening users will need to verify their identity and proof of address, of which details are sent in the confirmation email:. HotForex offers a wide variety of deposit and withdrawal methods which include bank wire transfer, debit and credit cards, Neteller, Skrill, Trustly and others. HotForex offers a wide variety of deposit and withdrawal methods which include credit and debit cards bank wire transfer and a variety of e-wallets such as Neteller, Trustly, Skrill and others.
Deposits can take between 10 minutes and 2 business days depending on the method and are mostly fee-free:. Withdrawals are processed 24 hours after the submission of a request Monday to Friday and are mostly fee-free as shown below:. Users can trade on the globally-recognised MetaTrader 5 for Windows and Mac which comes with several benefits and advantages, such as the ability to:. Users can also trade on the globally-recognised MetaTrader 5 Web Trader which comes with several benefits and advantages, such as the ability to:.
Users can also access the MetaTrader 4 trading platform. The HotForex MetaTrader 5 mobile trading app comes with several benefits and features, as highlighted below:. HotForex provides a range of additional trading features such as a free VPS, free access to AutoChartist scanners and risk calculators and premium MetaTrader trading tools. The broker also provides access to Premium Trader tools for Metatrader.
This includes tools such as a trade terminal, a mini terminal, sentiment trader indicator, a session map, a correlation matrix and an advanced indicator package including renko bars, pivot points and more, as shown below:. Trading costs with HotForex vary depending on the market being traded, the account type opened and the regulator used. With HotForex every account except the Zero Spread account comes with commission-free trading on Forex pairs with spreads starting from 1 pip.
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The Zero Spread account offers spreads from 0 pips on Forex but with commissions payable per trade. Generally, every account except the Zero Spread account comes with commission-free trading on Forex pairs with spreads starting from 1 pip.
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The Zero Spread account offers spreads from 0 pips on Forex but with commissions payable per trade, as shown below:. Accounts opened with the HotForex entity in St. At the time of writing, there are three bonus and promotional schemes offered by the HotForex entity in St. These include:. The Live Chat can be accessed by inputting your name, email address, in what capacity you are contacting the broker registered client, affiliate or other and account number, if applicable. At first try, the Live Chat function was not available at On another attempt, we were greeted within minutes with a personal welcome message as shown in the screenshot above.
The customer service representative is polite and helpful. When exiting the chat conversation, the user is given the option to rate their experience and request the transcripts of the conversation. For those wishing to speak to an agent, several direct phone numbers are listed for the Customer Support and Sales department, the Trading Desk and Affiliate support.
The listed teams can also be contacted via email or by using the Online Contact Form. Alternatively, users can connect and interact with HotForex through their Social Media channels. Furthermore, the website features an elaborate FAQ section with answers to the most common queries. In this extensive and comprehensive overview the most Frequently Asked Questions are listed and categorized per theme. A search bar allows users to browse any queries relating to their topic of interest.
HotForex offers an extensive array of research tools. The site features an economic calendar, trading calculator and a Forex news feed. The in-house team of analysts provides regular analysis and market outlook reporting. HotForex has a dedicated team of in-house analysts who provide regular Market News, Analysis and Market Outlook reports. Via the designated HotForex Analysis traders can access analysis and research in an article, video, podcast and webinar format.
The Analytics domain is divided into different sub-sections, making it easy for the user to navigate and find the content they are looking for. The Market news feed is updated in real time, keeping traders informed as to important events in the markets and their possible impact or implications. The Technical analysis section is subdivided into categories and articles are labelled according to asset class. HotForex prohibits third-party payments. Deposits and withdrawals must be to and from the same account that the trader registers when opening a live account.
There is no mention of withdrawal fees, but traders may be liable for fees waived by their banking institution on some, or all, payment methods and this needs to be verified with the specific preferred payment provider. RSS Feed. Read Review. Ticker Tape by TradingView. Open a Free Trading Account. Broker of the month. Top 27 Regulated Forex Brokers. Forex No Deposit Bonuses. Live Charts. Economic Calendars.
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MetaTrader 4 and MetaTrader 5. Total Pairs. Islamic Account. Trading Fees.