|Website||Rating||Popularity||Min Deposit||Regulator||EUR/USD spread|
We all understand there is always a point when one has to move on in order to progress. Once you start your first job, eventually you come to the point where you need to submit a resignation letter no matter how much you love the company.
Why? Simply because you understand that you require different conditions and possibilities in order to progress. Similar to this, HotForex represents a brokerage that is unlikely to become your first choice, but very likely to be your last one. Let’s learn a bit more about this company in our review.
The broker does a great job in terms of explaining its offer and educating you more about the trading. Unlike many other brokers, HotForex does not require you to sign up for an account at every possible pixel of of your screen. This is certainly a great advantage.
Besides that, HotForex website is filled with lots of useful content, analyses, trading tools and various apps. This demonstrates an amazing attitude towards the traders which can rarely be seen nowadays.
This company caters to all types of traders by providing six flexible accounts.
Essentially, the larger your deposit is the better account you are allowed to get.
The main differences between the accounts are the spreads (very important) and the maximum number of open orders (unlikely to be important). There is no big difference amongst the accounts, but it is an extra advantage that a trader can select the one that fits his strategy better.
As for the trading software, HotForex is a pure MetaTrader 4 broker. Yet it does a great job by offering all of the possible versions of MT4: iPhone, iPad, Android, and most importantly – the web version of this software. While not every trader will be a fan of MT4, it is clear that this is the most widespread platform and it will cater towards the largest majority.
Premium trading tools
What makes HotForex great and clearly stand out from the competition is the availability of the premium trading tools. If you are familiar with FXBlue (a b2b FX company) or have been trading with a few advanced brokers, you are very likely to be familiar with these tools. If this is the first time you hear about it – you will be amazed about how useful such tools can be for your trading.
There is a whole suit of the trading software that lets you trade on a completely different level.
You can quickly preview the FX sessions around the globe, set alarms, preview how the currencies are correlated or even trade based on the Excel formulas. This review will take forever if we are going to describe each of the tool and its advantage, so we recommend you to try those out on a demo account yourself.
Even though the broker does a great job by offering low spreads, great platform and amazing premium tools, it does not stop there. Considering that EU-regulated brokers can no longer offer trading bonuses, HotForex still seems to be a great option as it does bring something extra to the table.
With HotForex you can get access to your own MasterCard that is connected to your trading account. This way you no longer need to look for a broker that can process your withdrawals quickly, with HotForex MasterCards the withdrawals are instant.
Next to this, HotForex makes the funding free for you. Even if your own bank charges you for sending funds to HotForex, you can simply take a screenshot from your online statement and send it to HotForex to receive a compensation. This is, however, only applicable for the transfers above $250.
The final thought
This might have been the first time you have heard about HotForex. Why? The broker has remained quite inactive in its marketing, but it has been very focused on the product development. With HotForex you can get leading trading conditions, great platform available across all of your devices, premium tools to make your trading better, and, get your deposits free.