HotForex Broker Review – Currently NOT VERIFIED

Thinking of trying out a forex broker that changes from your norm? Then you might think about HotForex. This is a good pick for many people, an intelligent choice that offers a great range of offers – especially if you are new to forex trading and have no idea what you are doing.

A beginner friendly platform that might cap out for some people in terms of overall usability for more elite trading, HotForex is popular for a certain level of trader. Is it right for you?

HotForex Broker History

In terms of history, HotForex is one of the ‘newer’ names we have covered. Formed in 2010, the company has quickly grown to have a strong reputation. However, they are still settling into the market and as such only have Tier-1 and Tier-2 jurisdictions at the moment. The platform is part of the HF Markets Group, and has become well-respected for the work they have done so far.

At the moment, they are based with regulatory hubs including the likes of South Africa and Seychelles, as well as some of the other regulatory bodies growing in reputation.

Bonus Offers and Promotions

Of course, when getting into trading you might want to get some kind of assistance and support. That is why you might want to look at the various offers provided by HotForex. Over time, HotForex offers various choices for trading contests and reward programs that can give you even more value for your investment.

At the time of writing, they have numerous promotions that can include contests on demo accounts, giveaways, and deposit bonuses. While these change on a regular basis, a recent bonus included a whopping 100% credit bonus up to a maximum of $30,000.

Regulations

At the moment, the only regulation that HotForex has that comes from a Tier-1 jurisdiction is that of the Financial Conduct Authority (FCA). However, the FCA is a highly respected platform that is rated as one of the most trustworthy regulators in the world.

With various other Tier-2 and Tier-3 regulations, though, there are some growing bodies of interest within the platform. It is growing in terms of reputation, which for a company a little more than a decade old is an impressive boost in terms of their size. expect more Tier-1 regulation to come in the future with HotForex.

Platforms Offered

At the moment, you can use MetaTrader when you are part of the HotForex family. This is a highly respected name within the industry, so you should have little concerns regarding how safe MT is to actually work with. You can pick from both MT4 and MT5, so you should have no problem in making use of this if you are already used to working with MT in the past.

It’s a good choice, but you also get to pick from the lieks of Premium Trader Tools, a platform developed by FX Blue Labs. It has become a good choice for those who might fancy a change from the norm. Another thing to note about HotForex is that it also comes with an Advanced Insights plug-in.

While for newbies this might seem quite confusing, there is a lot of value that comes from using this particular tool. Be sure to look at the various educational tools that are available, and you can get a lot more value out of the Advanced Insights tool.

However, you can make use of various tools such as automated trading through the Experts platform. In terms of giving you options, then, HotForex has less in terms of variety than some of its competitors. The tools it does offer, though, are very highly rated – and with good reason.

If you want to use a forex brokerage that works with the respected names like MT4 and MT5, though, you can find that HotForex lives up to your expectation.

Education and Support

At the time of writing, HotForex is home to many useful articles and reading materials with over 25 articles to learn from. We would suggest that HotForex is a beginner-friendly platform, with e-courses, e-books, and videos to learn from at the same time. This gives you a good standard of learning, too, with very few assumptions made about prior knowledge.

If you are an expert, though, you might worry that you will not learn much from their educational tools. However, HotForex has some useful advanced videos to learn from – if they were just a bit longer, it would be even better.

Customer support is friendly and reliable, with rapid answers and friendly support. If you have any problems with using your account, then you should find that HotForex does a good job of making sure you can have your problems dealt with in a timely and professional manner overall.

Withdrawal and Deposits

One thing to note about HotForex is that it has some interesting withdrawal and deposit figures attached. At the moment, a minimum deposit request of $50 is very fair, ensuring that you can easily set up an account and try it out for yourself and see what you think.

In terms of time, you can often get same-day solutions. If you run into any problems, you should be able to get some kind of extra support from the customer support team. Most disputes are settled quickly, and any delays with your money going in or out should be easily resolved.

Verdict

If your aim is to find a solid trading tool that has a strong reputation across Europe, you should find this is a good place to begin with. It is a good option if you are happy to work with MetaTrader in particular, as this is an MT-only platform.

You will find that it has some good options that make it a better choice than simply going with a bare bones setup. In terms of advanced features and extras, though, you might find HotForex a touch lacking. Overall, though, the quality found across the various services provided by HotForex more than makes up for any lack of extra features and bonuses.