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HotForex

HotForex Bonus Program Review | How to get bonus?



This article explains about HotForex bonus program.

HotForex is a world-famous and high evaluated broker.

HotForex is a very attractive Forex broker, offering not only abundant trading stocks and good trading conditions, but also seminars for beginners and advanced users and various contents.

As of March 2021, HotForex offers deposit bonus, cashback and loyalty point program.

By utilizing the bonus, you can start trading with a small amount of money, reduce the risk and aim for a large profit.

In this article, I will explain in detail the types and characteristics of bonuses offered by HotForex, how to receive them, and points to note.

You can learn by this article;
  • Types and characteristics of bonuses offered by HotForex
  • How to receive and utilize HotForex bonus
  • Notes on HotForex bonus


HotForex Bonus Types

HotForex offers “30% Rescue Bonus”, “HF Rebates” and “Loyalty Program”.

Below is a list of them.

Bonus ProgramBonus TypeAmount
50% WelcomeDeposit BonusMax $1,000
30% RescueDeposit BonusMax $7,000
HF RebatesCashbackMax $8,000
ROFMCashback3% of free margin
Loyalty ProgramPoint ProgramRedeem points for various gifts and cash back

From here, I will explain each bonus in detail.

Of these, the loyalty program is a little different from the bonus, so I will omit the explanation in this article and summarize it in detail in another article.

HotForex 50% Welcome Bonus

The HotForex 50% Welcome Bonus is a deposit bonus for those who open an account with HotForex for the first time.

This is a new bonus campaign that was launched on August 4, 2021.

HotForex 50% Welcome Bonus Terms & Conditions

  • Applicable only to new account openers.
  • Only micro accounts with MT4 account is eligible.
  • Only one account per person is eligible.
  • 50% bonus on all deposits.
  • Maximum bonus amount is $1,000.
  • Minimum deposit is $50 ($5,000) to qualify for bonus.
  • Bonus can be applied to new accounts as many times as you deposit until the bonus limit is reached.
  • Offer valid in India, Mexico, Colombia, Thailand, Philippines, Jordan, Singapore, Morocco, Algeria, Senegal, Tunisia, South Korea and Japan.
  • Micro accounts with this bonus are limited to a maximum leverage of 500x (normally 1000x is allowed).
  • The bonus will be credited to your margin.
  • Bonus is non-withdrawable.
  • Profits by the bonus can be withdrawn.
  • If you withdraw the bonus, the bonus will be lost as a percentage of the amount withdrawn.

HotForex 30% Rescue Bonus

HotForex 30% Rescue Bonus is a so-called deposit bonus.

Since HotForex started offering it in 2013, it has a long history.
When you deposit to a real account, 30% of the deposit amount will be provided as a bonus (credit).

For example, if you deposit $1,000, 30% of $300 will be given as a bonus, and the total margin will be $1,300.

The maximum amount is 7,000 dollars.

There is no limit to the number of deposits you can make, and you can get up to $7,000.

This is quite big.

HotForex 30% Rescue Bonus Terms & Conditions

  • Eligible accounts are Micro and Premium accounts, and MT4 only.
  • Limit 1 account per person.
  • 30% bonus on all deposits.
  • Maximum bonus amount is $7,000.
  • The minimum deposit amount to qualify for the bonus is $50 ($5,000).
  • Can be applied to any deposit until the bonus limit is reached.
  • Unlike the 50% Welcome Bonus, the bonus applies to all countries where accounts can be opened.
  • Micro accounts with this bonus are limited to 500x leverage (normally 1000x is allowed).
  • The bonus will be credited to your margin.
  • Bonus is non-withdrawable.
  • Profits from the bonus can be withdrawn.
  • If you withdraw the bonus, the bonus will be lost as a percentage of the amount withdrawn.

Application is required when opening an account

You must choose to receive a 30% rescue bonus when you open your account.

Please note that if you select “No Bonus”, you will not receive a bonus.

If you run out of the $ 7,000 limit, you’ll get more benefits

If you use up all the $ 7,000 30% Rescue Bonus slots and then meet the stop out again, you will receive an additional 30% Rescue Bonus.

It is named “Stop Out Rewards”.

You will need to contact support after making an additional deposit.

The maximum amount you can get is $ 3,000.



HotForex HF Rebates

HF Rebate is a so-called cashback program.

It has been available since 2018.

The target of cash back is limited to currency pairs and gold, and cash back occurs every time you trade.

The cashback bonus can be used for trading, and can be withdrawn.

HotForex HF Rebates Terms & Conditions

  • Start getting cash back on deposits of $250 or more.
  • Limit 1 account per person.
  • Maximum cashback is $8,000.
  • Minimum trade size is 0.1 lot.
  • Applicable currency pairs and gold.
  • Automatic calculation at position close.
  • Cashback of $2 per lot.
  • Cashback is returned daily (minimum $5).
  • Conditions apply depending on how long you hold your position.

Be careful of scalping trading

HotForex HF Rebates are not eligible if the position is held for a short time.

If the time from order to close is less than 1 minute, the cashback rate will be 0%.

It will be 50% within 2 minutes.

If you have more than 2 minutes, you will receive 100%.

HotForex ROFM (Return on Free Margin)

ROFM is a program that offers up to 3% cash back on free margin.
The program started in June 2021.

If you have more than $10,000 in free margin, you will receive cash back calculated daily according to the following cash back rates.

Free MarginTrading Volume
5 – 50 lots
Trading Volume
50 lots –
$1,000.01 – $25,0002%2.5%
$25,000 –2.5%3%

The calculation formula is as follows

Free Margin = Equity – Margin Requirement – Bonus
Cashback (calculated daily) = Free Margin × Cashback Percentage ÷ 365 days

For example, if the free margin is $88,000 and the number of trading lots is 6 lots, the formula is as follows

88,000 USD x 2.5% ÷ 365 days = 6.03 USD

HotForex ROFM Terms & Conditions

  • All account types are eligible.
  • Automatic daily calculation.
  • Payments are made once a month (first week of the following month) and automatically deposited into myWallet.
  • Cash back can be withdrawn.

Summary

How was it?

HotForex bonuses, both 30% Rescue Bonus (deposit bonus) and HF Rebates (cash back), have slightly different characteristics from other Forex brokers.

In particular, the 30% Rescue Bonus will automatically disappear when the loss cut is met, so you should consider that it has the effect of increasing the margin by 30% while the margin remains.

In fact, the HotForex bonus rule says “30% Rescue Bonus is to
withstand drawdowns”.

In any case, if you use it well, it will have the effect of increasing the margin and reducing the risk, so make sure you understand the conditions properly and make use of it.

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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].