I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].
HotForex

HotForex All Account Types | Which account is the best for you?



Introducing the account types of HotForex.

HotForex has services all over the world and is very famous and highly evaluated in the world.

There is also a deposit bonus and a point program that gives you cash back, that is also the reason.

HotForex offers a total of 6 account types.

HotForex Account Types
  • MICRO Account
  • PREMIUM Account
  • ZERO SPREAD Account
  • AUTO Account
  • PAMM Account
  • HFCOPY Account

Of these, AUTO is for signal traders only for copying, PAMM accounts are for transactions that entrust fund management to professional traders, and HFCOPY accounts are for copy trading, not for general traders, so explanations are omitted here.

In this article, after thoroughly comparing each three account types for general traders based on specifications and trading conditions, I will clarify the characteristics and precautions for each account type and carefully explain which account is suitable for which type of trader.

This article is recommended for people like
  • I want to know HotForex account types.
  • I want to know specifications and conditions of each account.
  • I’m not sure which account type is the best for me.

HotForex All Account Types

First, let’s compare the all account types offered by HotForex.

The color of the part that seems to be a point has been changed.

Let’s take a quick look at what kind of specifications and conditions are different.

MICROPREMIUMZERO SPREAD
MethodSTPSTPECN
PlatformMT4, MT5MT4, MT5MT4, MT5
Base currencyUSD,EUR,NGNUSD,EUR,NGNUSD,EUR,NGN
Contract size1 lot = 100,0001 lot = 100,0001 lot = 100,000
Min trade volume0.01 lot0.01 lot0.01 lot
Max leverage1:10001:5001:500
Margin call40%50%50%
Stop out10%20%20%
NBP
Min spread1.0pips~1.0pips~0.0pips~
Commission feeXXRound $6/lot
Lot restriction per ticket7 lots60 lots60 lots
Max orders150 positions300 positions300 positions
Non-deposit bonus
Deposit bonus
(MT5 X)

(MT5 X)
X
Rebate
Min deposit$5$100$200
EA
Scalping
Stop level3.0pips(EURUSD)3.0pips(EURUSD)2.0pips(EURUSD)


Characteristics of each account type

I will briefly explain the characteristics of each account type.

HotForex MICRO Account

HotForex’s MICRO account is for traders who trade small amounts.

The minimum deposit is $5 and the maximum leverage is 1:1000, so you can trade with a small margin.

The stop out level is also set at 10%, which is lower than other HotForex account types, so even with a small margin, you can take advantage of high leverage and aim for high profits while sticking to the limit.

This is an account for small trades, and you can only order up to 7 lots per order.

Well, I think that 7 lots is enough for general traders, and since I can have up to 150 positions, I think that there is no problem.

One thing to note is that you can only get a deposit bonus on your HotForex micro account if you choose MT4 as your trading platform.

Please note that if you select MT5, you will not be eligible for the deposit bonus.

HotForex MICRO Account
is recommended for traders like;
  • Want to start trading with small margin
  • Want to trade with 1:1000 high leverage
  • Want to get deposit bonus

HotForex PREMIUM Account

HotForex PREMIUM accounts are for general discretionary traders.

There is no small lot limit when ordering like MICRO account.
Up to 60 lots can be ordered with one order.

Trading conditions are almost the same as MICRO accounts.

I recommend PREMIUM account for traders who have a certain amount of trading funds and want to trade without restrictions.

Same as MICRO account, if you select MT5 as the trading platform, you will not receive a deposit bonus.

If you want to take advantage of the deposit bonus, please select MT4.

HotForex PREMIUM Account
is recommended for traders like;
  • Opening HotForex account for the first time
  • Want to trade without restrictions
  • Want to get deposit bonus

HotForex ZERO SPREAD Account

HotForex ZERO SPREAD account is an ECN account.

Instead of keeping spreads to near zero, you will be charged a transaction fee for each order.

The transaction fee for HotForex ZERO SPREAD account is $6 round trip per lot.
It’s in the cheap category.

Please note that deposit bonuses are not applicable regardless of the trading platform.

Other conditions such as minimum deposit are not particularly bad, so it is an account for advanced traders who want to concentrate on trading.

HotForex ZERO SPREAD Account
is recommended for traders like;
  • Don’t need any bonus. Want to focus on trading.
  • Advanced traders who trade frequently.

Common Conditions of All Account Types

In addition, I will introduce the specifications that are common to all account types.

HotForex Trading Platform

All account types allows both of MT4 and MT5.

Please be noted again that MT5 doesn’t offer bonus program.

If you want to get bonus, select MT4.

HotForex Stop Out Level

Only for MICRO account, stop out level is 10%, margin call is 40%.
For others, stop out level is 20%, margin call is 50%.

HotForex Negative Balance Protection System

Of course, NBP applies to all accounts.

Does HotForex allow to use EA (Expert Advisor) tool?

Yes, you can use any EA on XM.

Does HotForex allow scalping trading?

HotForex does not prohibit scalping trading.

However, the stop level is rather wide.

For example, EURUSD is 3.0 pips in MICRO and PREMIUM account.

HotForex is not suitable for scalping.


The HotForex stop level is summarized in detail in the separate article “HotForex Stop Level | Conditions for Scalping, Stop/Limit Orders“, so please refer to that as well.

HotForex Stop Level | Conditions for Scalping, Stop/Limit OrdersI will explain the stop level of HotForex. If the stop level is too wide, it is disadvantageous for trading. You lose the opportunity to make a profit because limit orders and stop limit orders do not be placed. I will also introduce the stop levels of major currencies....

The most recommended account type in HotForex is “PREMIUM Account”

If you cannot decide, it’s a good idea to have a premium account.

You can get a bonus and the trading conditions are not bad.

You can also create additional accounts with HotForex.

You can choose a different account type for the additional account, so you can create a different account type later.

Summary

How was that?

If you haven’t opened HotForex account yet, please open an account by referring to the separate article “How to open HotForex account“.

HotForex | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

\Just 3 minutes!!/
Open an Account

Check All Account Types in Official Site



ABOUT ME
KandA
KandA
I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].