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 | Forex Broker Review



HotForex is very famous in the world and has a high reputation.
HotForex is licensed by the financial authorities of many countries and can be said to be a reliable broker.

By the way, I also have an account in HotForex in Thailand, I have a very good impression that I got support quite kindly at the beginning.

Official Site

Overview

CompanyHF Markets (SV) Ltd.
Established2010
Regulated byCySEC(Cyprus)
Max Leverage1:1000
Spreads *STP/Avg.1.2pips/EURUSD、1.7pips/USDJPY
Commission *ECN$8/lot
ProductsForex:53, Index:23, Metal:6, Energy:4,
Commodity:5, Crypto:12, Stocks:56, Bond:3
Account Types6 Types (MICRO, PREMIUM, ZERO SPREAD,
AUTO, PAMM, HFCOPY)
Bonuses5 Types (Deposit, Loyalty Program, etc.)
Negative Balance
Protection
Yes
Stop Out10/20%
Deposit & Withdrawal FeesFree
SupportPhone, E-Mail, Chat
PlatformMT4、MT5

HotForex Advantage and Disadvantage

  • Customer assets are segregated
  • Has numerous financial licenses and is highly regarded in the world
  • Rich bonus programs
  • A lot of products
  • Can trade crypto
  • Can deposit/withdraw by crypto
  • Can use copy trade service
  • High leverage up to 1000 times
  • Negative balance protection system
  • Value of the bonus is lower than other brokers

HotForex is Recommended for Such Traders!

Recommended for Such Traders!
  • Want to use the world’s leading and popular broker
  • Highly rated vendors can rest assured
  • Want to start with small capital
  • Want to trade crypto as well
  • Want to deposit/withdraw with crypto
  • Need negative balance protection
  • Want to use trustworthy broker


Is HotForex a Reliable Broker? Or Scam?

We can say HotForex is a reliable broker.

As I can see because I live in Thailand, HotForex is a forex trading company that is expanding on a global scale.
HotForx also has an office in Thailand, and at the beginning when I open an account in HotForex, I received a direct call and they supported me. (Lol)
I have a good feeling about their activities.

HotForex Licenses

HotForex has the following licenses.

HotForex has multiple licenses depending on the region where the service is provided.

In particular, the FCA in the UK seems to be famous for the particularly strict examination of acquisition and renewal, and HotForex who has acquired this seems to be quite reliable even if you look at only this.

  • CySEC (Cyprus)
  • FSA (Saint Vincent and the Grenadines)
  • FCA (United Kingdom)
  • DFSA (Dubai)
  • FSCA (RSA)
  • FSA (Seychelles)

HotForex Asset Conservation

Is there any measure to protect customer assets?

What happens to our assets (margin and profits deposited) if the forex broker goes bankrupt?

It should be decided that the forex broker who can guarantee customer assets as much as possible is more reliable.

It is the asset conservation system to evaluate it.

There are two main types of asset conservation systems.

  • Conservation Trust
  • Segregation of Funds

Conservation Trust is more reliable.

Conservation Trust means depositing all the customer assets to a third institution such as a bank. Forex brokers cannot withdraw funds without permission unless the customer instructs them to withdraw. Even if the forex broker goes bankrupt, the customer’s assets (balance at that time) are protected and guaranteed.

Segregation of Funds is to manage the operating costs of the forex broker and the assets under custody from the customer in separate accounts. Unlike Conservation Trust, the management is done by the forex broker itself, so even if the forex broker goes bankrupt, the customer’s assets are may not fully guaranteed.

How does HotForex manage customer assets?

HotForex manages customer assets by Segregation of Funds.

It is not Conservation Trust, so it’s a little less reliable.

However, since RENAISSANCE insurance covers up to 5 million euros, it seems that the minimum assets are protected even in the unlikely event of bankruptcy.

From the above, it can be said that HotForex is a reliable broker.

HotForex Products

HotForex offers 162 products.

HotForex handles a large number of products.
It’s a very attractive broker.

HotForex handles all kinds of products, not just large numbers.
In addition, the number of brands of each product is relatively large.

Among the forex brokers I am introducing, HotForex is the only one that handles bonds.

Bonds are not suitable for scalping because the daily price fluctuation is not so large, but the price will still move in the medium to long term, so it is a product that can be asset-formed by leveraging and holding it for a long time.

  • Currency : 53
  • Index : 23
  • Energy : 4
  • Metal : 6
  • Commodity : 5
  • Crypto : 12
  • Stocks : 56
  • Bond : 3
  • Total : 162

Please refer to another article for a detailed explanation of the products handled by HotForex and the terms and conditions of the transaction.

Also, trading gold is very popular at HotForex, and you can read more about it in the separate article “Trade Gold with HotForex | Low commissions!“. Please visit it.

HotForex All Products and Trading Conditions | Forex and CFDsHotForex All Products and Trading Conditions for Beginners. Forex, Index, Energy, metal, Commodity, Stocks, Crypto, Bond, ETF....
Trade Gold with HotForex | Low commissions!Learn how to trade popular gold on HotForex. HotForex has very narrow gold spreads and you can trade with low fees. If you want to trade gold, HotForex is the most recommended....

Can Cryptocurrencies be Traded in HotForex?

Can we trade cryptos in HotForex?

As you know already, we can trade cryptos in HotForex.

Recently, trading of cryptocurrencies such as Bitcoin, Ripple, Ethereum and Other Altcoin has become popular again.

It is very popular with short-term traders due to its large price fluctuations.

Bitcoin has also risen steadily, finally surpassing $ 20,000 in late 2020. There are also long-term traders.

HotForex allows you to trade 9 Cryptocurrencies / 12 pairs.

HotForex has major crypto including the popular Bitcoin.

The maximum leverage for cryptos is 1:10, which is considerably lower than the currency pair, but it is still very attractive to be able to trade cryptocurrencies with the same account.

In the separated article “Best Forex Broker for Crypto Trading“, I also explain not only HotForex but also another forex brokers that offer crypto trading.

Please take a look!

Best Forex Brokers for Crypto TradingIt has been more than 10 years since the birth of cryptocurrencies, but the value of cryptocurrencies will not increase tens to hundreds of times as it used to. On the other hand, cryptocurrencies are very attractive for short-term trading like Forex....

HotForex Account Types

HotForex provides 6 types of account mainly.

hotforex-accounttype

AUTO is for signal trader copy only, PAMM account is for transactions that entrust fund management to pro traders, and HFCOPY account is for copy trade. There are Islamic accounts as well, but I think that most of traders will use one of the three accounts described below, so I will not explain the other accounts here. Please check the official website for details.

hotforex-account-type

Zero Spread account does not receive bonuses. Also, since commission will be charged on each trades, it can be said that it is for swing traders.

There are not many major differences between Micro account and Premium account. Only the maximum trading lot and leverage affect the trade. The spreads are the same.
Micro account is for beginner traders who trade in relatively small lots.

If you cannot decide choosing one, I recommend you to choose Premium account.

Regarding HotForex all account types, refer to the separate article, “HotForex All Account Types” that explain you the detailed specifications and conditions.

Also, regarding opening an account, please refer to the separate article “How to open HotForex account“, which explains the procedure for opening an account using images.

HotForex All Account Types | Which account is the best for you?HotForex offers six account types. With comparing all account types, I will recommend the best account for you....
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

>>Read More About HotForex Account Types

HotForex Allows up to 7 Multiple Accounts

You can open multiple accounts up to 7 in HotForex.

Maximum number of accounts is defined by trading platform, up to 5 in MT4 and up to 2 in MT5. Total is 7.

Creating an additional account enables more risk-reduced and efficient operation.

With additional accounts, you are free to choose not only the account type, but also the account currency, leverage, trading platform, etc., just as you would when you first created an account.

By changing the account type or the conditions such as leverage, you can separate the currency pairs and products to be traded for each account, trade with different leverage, separate the discretionary trading and EA (automatic trading) trading accounts, it will be easier to manage.

If you cannot decide account type for the first account, let’ select Standard account.

If you want to try another account type, you can add an account and select it.

Also you can easily transfer funds to additional accounts from the website.

Please also refer to the separate article “How to Open HotForex Additional Account“, such as how to open an additional account and how to operate using multiple accounts to reduce risk.

How to Open HotForex Additional Account | How to Reduce RisksYou can create up to 7 accounts in HotForex. By utilizing multiple accounts, you can trade with less risk. Opening an account is completed in 1 minute. I will explain not only the procedure for opening an account, but also the procedure for transferring funds....

\Just 1 minutes!!/
Open an Additional Account

HotForex Copy Trading

HotForex offers a copy trading service called “HF Copy”.

Traders called “Strategy Providers” who have passed HotForex’s screening process will deliver the trade signals.

All you have to do is create a dedicated account for HF Copy and follow your favorite strategy provider.

If you follow a good strategy provider, your money may grow by itself without your effort.

For more information about HotForex copy trading, its features, the difference between copy trading and EA (automated trading), and how to start copy trading in HotForex, please refer to the separate article “HotForex Copy Trading | Powerful Trading Automation“.

Please take a look at it!!

HotForex Copy Trading | Powerful Trading AutomationIt is an explanation of the copy trading "HF copy" of HotForex. HotForex offers copy trading services by professional strategy providers. You may be able to make a profit by leaving it to a professional trader....

HotForex Bonus Programs

One of the features of HotForex is that HotForex provides various campaigns for a limited time.

As of August 2021, HotForex is providing following bonus programs.

  • 50% Welcome Bonus
  • 30% Rescue Bonus
  • Rebates
  • ROFM (Return on Free Margin)
  • Loyalty Program

50% Welcome and 30% Rescue is a deposit bonus program.

Rebate is a cashback service according to transaction volume.

Loyalty program is a cashback service according to transaction volume as well as self-rebate, but there are services that can be exchanged other than cash.
So it’s close to a point program.

Please note that the 30% Rescue Bonus requires application at the time of opening an account, is applicable only to micro accounts and premium accounts, and is applicable only when the trading platform is MT4. Not MT5.

Self-rebate applies to all accounts.

The loyalty program is a points program and applies to all members regardless of account types.

Please refer to the separate article for the eligibility conditions of bonus programs and promotions.

HotForex Bonus Program Review | How to get bonus?This is an explanation of the HotForex bonus program. You can learn how to utilize these bonus programs to reduce trading risks and costs....

>>Check HotForex Campaign Programs

HotForex 30% Rescue Bonus

hotforex-rescue-bonus

A 30% bonus will be given when you deposit.
A minimum deposit of $ 50 or more. It is a one-time application. The limit is $ 7,000.

Please note that the bonus itself cannot be withdrawn. Also, if you lose more than the deposit amount, the bonus will disappear.

Regard to other brokers, if all deposit amount is lost, bonus will still remain as credit. But in HotForex, no.
So, you can think of it as a way to increase the margin by 30% of the deposit amount while there is no loss.

The 30% rescue bonus must be specified when opening an account. Don’t forget to apply if you want. Only MT4. Not MT5.

For more information, please refer to separated article, “HotForex Bonus Program Review“.

>>Learn More About 30% Rescue Bonus

HotForex Bonus Program Review | How to get bonus?This is an explanation of the HotForex bonus program. You can learn how to utilize these bonus programs to reduce trading risks and costs....

HotForex Rebates Program

hotforex-rebate

There is cash back depending on the trading volume.

The conditions and rebate rate are detailed and disclosed on the website.

Conditions are,

  • Need deposit more than $250
  • Applies to only one account per customer
  • Maximum cashback is $ 8000
  • For positions of 0.1 lot or more
  • Forex and Gold trade
  • Automatic calculation every time the position is closed
  • $ 2 cashback per lot
  • Penalty for transactions within 2 minutes
  • Pay daily (starting at $ 5)

Since it is cash back, you can withdraw the full amount unlike other bonuses. While you are trading, you will earn a fair amount of money. Please make use of it.

For more information, please refer to separated article, “HotForex Bonus Program Review“.

>>Learn More About 30% Rescue Bonus

HotForex Bonus Program Review | How to get bonus?This is an explanation of the HotForex bonus program. You can learn how to utilize these bonus programs to reduce trading risks and costs....

HotForex Loyalty Program

hotforex-loyalty

HotForex offers a loyalty program.

Points called “Hot Forex Bar” are accumulated according to the transaction volume and can be exchanged for various products and services including cash back.

For all members, they will start with a rank called Red, and as the number of trading days increases, the membership rank will go to Silver, Gold, Platinum.

The number of bars you can get depends on your membership rank. You can get 6 bars per lot for red and 12 bars for platinum.

hotforex-loyalty

The accumulated HF bar can be exchanged for various services such as cash back, free use of VPS, and 1 hour free session with HotForex analysts.

I have only used cashback.
HF bar can be redeemed for $ 1 at 35 bars.

As you trade, HF bars will be naturally accumulated.
Combined with the self-rebate mentioned above, it seems that you can expect a fair amount of cash back.

Registration is required to participate in the loyalty program.
You can register from the member page (MyHF), so don’t forget to register once you open an account.

>>Learn More About HotForex Loyalty Program

HotForex Deposit / Withdraw Options

There are many deposit and withdrawal methods. It depends on your location. Please check in detail on HotForex official website.

Deposit:

hotforex-deposit
hotforex-deposit

Withdraw:

hotforex-withdraw
hotforex-withdraw

>>Check Deposit/Withdrawal Options


Please refer to the separate article “HotForex Deposit Methods | Fees and Conditions” for details on how to deposit HotForex.

HotForex Deposit Methods | Fees and ConditionsHow to deposit into HotForex account?  Funding methods, fees and conditions....

HotForex Educational Content

HotForex offers a lot of educational content.

You can access them from HotForex official website, and they are all available for free.

The contents include educational videos, how to use MT4/MT5 and other tools, webinars (web-based online seminars), and so much more.

The contents range from those for forex beginners to those for advanced traders.

For more information about HotForex’s educational content, please refer to the separate article “HotForex Educational Content“. Please take a look.

HotForex Educational ContentHotForex provides educational content that can be used by beginners and advanced traders. The number of contents is quite large, and the contents are also very substantial. Let's make good use of it and aim to become a higher-level trader!...

HotForex Customer Support

HotForex has support systems around the world and can communicate in any language.

HotForex also offers real-time communication via live chat.

Customer SupportSupported or not
Live Chat
e-Mail
Inquiry Form
Phone

For more information about HotForex support, please refer to the separate article “HotForex Customer Support | Any Language as You Like!“.

Please refer to it.

HotForex Customer Support | Any Language as You Like!This is an article about HotForex support. HotForex provides forex services all over the world, is very famous and has a large number of traders in the world, and provides support in many languages in many countries. I will also explain in detail how to contact the various contact points....

Try HotForex Demo Account for Free

In order to know the trading environment and usability in HotForex, it is effective to open a demo account and do actual trading.

HotForex makes it easy to open a demo account.

Opening a demo account with HotForex is unique and, like a real account, you need to submit identity verification documents.

In most other forex brolers, you can use the demo account without verifying your identity, so it’s bit tough to do that.

On the other hand, HotForex holds a contest using a demo account, and if you win, you will get the prize.
It is held every month.

Including how to participate in the demo contest, for details on how to make use of HotForex demo account and how to open it, see the separated article “How to utilize HotForex demo account“.

If you have not decided to trade with HotForex yet, why not try trading with a demo account?

\Open for Free!/
Try Demo Account

How to Utilize HotForex Free Demo AccountHotForex allows to open demo accounts. Anyone can use it for free. By using the demo account, you can practice trading and check the actual trading conditions....

Summary

It is a broker that is extremely popular and highly evaluated overseas.
Since the amount of information on the official website is large and detailed terms and conditions are disclosed, it is easy to obtain official information and support is polite.
Many traders all over the world choose HotForex, and it can be said that it can be used with confidence and trustworthy.

\Just 3 minutes!!/
Open an Account

Official Site



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!...

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].