Hotforex is a long-standing forex brokerage firm based in Southern Cyprus and founded in 2010. It has grown considerably since its inception. It has grown into a company with branches in different parts of the world. Currently, the company serves in 27 languages.
The company tried to meet the needs of a wide investor base with different account types. There are currently 6 different account types. You can start trading by choosing one of these account types.
Spread rates are quite low. This is important in terms of transaction costs. When the spread rates are low, you can make a profit faster by trading at a lower cost.
The maximum leverage is 1:1000. However, this level of leverage is valid for the $5 Micro account. The maximum leverage for standard account types is 1:500.
Membership and Registration
Investors who want to trade through the company must first open an account on the company’s website. At this point, Hotforex membership and registration are also possible by clicking the “Open a Live Account” button on the main page. Then investors should follow the instructions.
First of all, they have to fill in their personal information; various information such as name and surname, title, e-mail, telephone number, date of birth are requested.
After entering the information, the next step is to confirm the email first and then verify by phone.
After verification, traders will be able to access the myHF areas, where they must open an account by choosing one of the many account types.
However, in order for investors to make transactions, they must first upload the relevant documents to the system from this myHF panel. Documents such as identity card and driver license are required for identity verification. Also, any service invoice or receipt with an address written on it are accepted for address verification. The last stage for the transaction is the collateral investment process and it is possible to make transactions after this amount is deposited.
Hotforex Payment Methods
The firm requires investors to deposit a certain amount of collateral before making a transaction, and it will be possible to make transactions through supported payment methods in both funding and withdrawal transactions. Therefore, it is necessary to state that there are different options and methods among the options offered by the company to its customers as Hotforex payment methods. The company does not transfer between banks, and at this point, it only accepts payment by credit and debit cards. VISA and MasterCard supported cards are among those supported in transactions. There are also different virtual and electronic payment methods.
While it is seen that the most frequently used methods such as Neteller and Skrill are among the virtual payment methods, there are also methods such as FasaPay and iDeal among these methods. Investors can also fund and withdraw funds with cryptocurrencies if they wish. The completion time of these transactions is specified up to a maximum of 3 working days and can still be realized within 1 working day.
Hotforex Trading Instruments
The markets in which investors trade are generally expressed in different categories. The instruments that can be counted as Hotforex investment products here are in 6 different categories as Forex currency pairs, cryptocurrencies, precious metals and metals, indices, stocks, energy market products, agricultural products and other commodities, bonds. First of all, these categories include Forex currency pairs, and these units include key pairs such as CHFJPY, EURGBP, EURUSD, EURCHF. 15 currency pairs can be the subject of trade transactions of investors here. Another market that can be traded is cryptocurrencies, where investors can trade primarily through Bitcoin, Ethereum, Litecoin and Ripple.
Another market where investors can trade is the precious metals market, and gold, silver, oil, brent oil in this market are the subject of transactions. In addition, another product is indices. In this context, global world stock market indices such as FRA40, JPN225, AUS200, US31, USA100, UK100 are included here. It can be subject to action. Investors can also buy and sell stocks and bonds of global companies on these exchanges. Coffee, copper, rice and other agricultural products may also be the subject of investors’ transactions in the commodities market.
Account Types
You can open an account in the Micro account type with $5. I can hear you say what an investment will be with 5 dollars. However, the main purpose of such micro-account types is experimentation and training rather than investment.
When you use micro accounts, you do not make much profit, but you can try your trading strategies, robots and trading skills in these accounts.
Premium and Zero Account types are similar to more standard account types. Many users will prefer these accounts to trade.
Those interested in a shared account or copy trading can also take a look at other account types.
Copy-trade and PAMM account types are among the most preferred account types by investors.
HotForex also offers its customers an Islamic account option. All past and future accounts opened by investors who switch to this account type by sending an e-mail will be swap advantageous accounts.
What are the HotForex Deposit and Withdrawal Methods?
Investors who want to open an account at HotForex can make their transfers with bank transfer, solution partner, credit card, Neteller, Skrill and cryptocurrencies.
You can easily fund HotForex with USDT from your crypto wallet.
First of all, after sending your investment to a crypto exchange by means of wire transfer, you can instantly convert it to currencies such as Tether (USDT), Bitcoin, Ethereum, Litecoin and fund HotForex.
You can perform all investment and withdrawal transactions from your own panel, 24 hours a day, without reaching any HotForex customer representative.
It is stated by the company that the shooting requests made until 11 am every weekday are processed within the working hours of the same business day, and the shooting requests made after 11 am are processed during the working hours of the next business day.
HotForex Trading Rewards System
With the transaction rewards system offered by the company, everyone who trades earns “redeemable” lot return points for their transactions.
After registering for the transaction rewards, you can earn 6, 8, 10 and 12 points from the transactions you make. The increase in these points varies according to the number of days you trade. The more trades you make, the more nuggets you earn.
Turn these nuggets into cash or trading instruments. With HotForex Trading Awards, this choice is left to you. These points are also valid for “HFcopy Strategist and Follower Accounts”. You can find detailed information on the company’s website.
Is HotForex Safe?
Hot Forex is a licensed and regulated brokerage firm with licenses from 5 different regulators. As there is no problem in license and regulation, it is possible to see this diversity in practice. Because HotForex has investors from dozens of countries.
You can see these licenses and their license numbers in the table below.
Regulation License Number
FCA / UK 801701
DFSA / Dubai F004885
CySEC / Cyprus 183/12
FSCA / South Africa 46632
FSA / Seychelles SD015
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