HotForex Review - Reputable exchange, Good support, Good bonus
HotForex Review - Reputable exchange, Good support, Good bonus
HotForex is a subsidiary of HF Markets Group, established in 2010, with headquarters in Cyprus, with several global offices located in Dubai, South Africa. HotForex owns many licenses including reputable ones from FCA, CySEC.
ADVANTAGES:
Reputable exchange licensed by FCA, CySEC.
Diverse trading accounts to choose from.
Many support tools for new investors.
Good bonus and bonus policy.
Support for deposit and withdrawal via domestic banks in Vietnam.
DEFECT:
The leverage for electricity is low.
5 tips you need to know when entering the Forex market:
Limit participation in invitations to join groups to share bets.
Do not believe the temptation to commit to profit, not to risk because most of it is a scam.
Always manage your risk no matter how big or small your account is, you always have a stop loss when entering orders.
Trade on reputable, highly ranked, and relevant brokers for your trading style.
Money in the Forex market a lot just you can get it or not? Therefore, always supplement knowledge to not turn yourself into a "chicken" to be eaten.
Is HotForex a scam?
HotForex is a trademark owned by HF Markets Group, established in 2010 and headquartered in St. Petersburg. Vincent and the Grenadines. After 10 years of establishment, HotForex has more than 350,000 customers in many countries around the world, more than 2,000,000 visits to the official website each month, the official website of HotForex also supports 27 different languages.
For Traders, HotForex is a well-known exchange and also has a representative office in Vietnam with an enthusiastic support team.
Currently, HotForex owns the license of CySEC , FCA , DFSA, FSC, FSA, FSCA . In which, licenses from CySEC (Securities and Exchange Commission of Cyprus), FCA (UK Financial Authority) are leading prestigious licenses in the industry. So, you can rest assured about HotForex's reputation.
HotForex trading platform
HotForex offers a suite of well-known trading platforms developed by the MetaQuotes Software Group, including the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
The MT5 platform is the upgrade platform of MT4 (however, in two different programming languages, mql4, mql5). So MT4, Indicator, EA,… accounts on MT4 will not be available for MT5 and vice versa.
MetaTrader 5 has a more user-friendly, nicer interface and has more features than MT4. The host company MetaQuotes also directed users to use MT5 and stopped upgrading MT4. However, the number of users switching to MT5 is not much because MT4 has a long history, so there are a lot of indicators, EA, ... created by 3rd party programmers.
What does HotForex trade?
Many trading products HotForex offers quite a lot for you to choose from such as:
Forex: more than 50 currency pairs, leverage 500: 1 (1000: 1 with Micro account), customer support 24/5 weekly .
Stocks: directly trade more than 50 stocks.
Commodities: 7 types of goods such as Cocoa, Coffee, Cotton, Sugar ...
Stock indexes: 11 popular stock index codes such as UK100, US30, US500, AUS200, ...
Precious metals: including Gold and Silver
Energy: 3 types of energy BRENT, GSOIL, NGAS.
Electronic money: diverse with popular electronic currencies such as BTC, BCH, ETH, BNB, EOS, LTC, XLM, ...
HotForex's trading products are relatively diverse to satisfy most traders' needs. You can freely choose the trading products you want to find opportunities for yourself.
Which HotForex account to choose?
XM offers 6 types of accounts including Micro , Premium , Zero Spread, Auto , PAMM, HFCOPY
6 types of HotForex trading accounts currently offer. You can see more details here
Account Premium, Micro, Auto is the account at no charge commission when trading.
Micro account your amount will be multiplied 100 times in your account (because it is calculated in cents). For example, if you deposit $ 10 you will have $ 1000 to trade in your account to trade (actually 1000 cents). This type of account is usually for newcomers to the market or you trade in martingale robots that need large amounts of money. The minimum deposit amount is 5 $.
The Premium account is a standard account with a minimum deposit of $ 100 for more experienced traders.
The Zero Spread account is an account with spreads of 0.0 pips. You can understand that this account spread will start from 0 pips. Different currency pairs, depending on the time, will have different spreads, not always 0 pips !. This account will cost you 6-8 $ commission depending on the product. This is a pretty decent commission price. Zero Spread accounts are suitable for scalper traders, Expert Advisor trading, or small timeframes because of the low spread. Zero Spread accounts have a minimum deposit of $ 200.
An auto account is an account designed specifically by HotForex for trading for traders who want to get trading signals from the MQL5 community. MQL5 is the world's largest forum for MT4, MT5 users. You can automatically copy trades from semi-signal traders around the world. Auto account has a minimum deposit of 200 $
See more instructions for using Auto accounts here
PAMM account
PAMM is abbreviated by the word Percent Allocation Management Module, a form of capital raising account managed by the trader. All traders contribute capital to an account, the account manager will use that money and their personal capital to trade. Profits and losses are divided proportionally between manager and investor (s), based on prior engagement arrangements.
In a short sense, this is a form of capital contribution to the transaction manager. When there is a profit, the system will automatically calculate the amount of profit you need to share with the manager. This method is for those who do not have much transaction time.
PAMM differs from Auto in that when you follow the trader's signals, you will lose a fixed monthly fee, no matter how much you make or lose you will still lose this amount (usually about 30-40 $). PAMM is a common form of rice contribution, you share the profit with the manager according to% interest. If they lose, they will get nothing.
The minimum amount to deposit into a PAMM account is 250 $
HFCopy account
HFCopy is an account similar to a RAMM account in many other exchanges. This form will loosen your dependence on the account manager than the PAMM account because you are just copying transactions from them.
Deposit and withdrawal at HotForex
IC Markets deposit and withdrawal instructions
Currently, HotForex provides a lot of recharge gateways for customers and these are very familiar and popular payment gateways. For traders in Vietnam, HotForex allows direct deposit via Internet Banking. Besides, there is another noteworthy form of deposit via Bitcoin.
Deposit methods at HotForex
Visa, Mastercard.
Bitcoin.
Neteller, Skrill, WebMoney, ...
Money.
...
An important thing when investing forex is that you should use the deposit and withdrawal platforms via Internet Banking Vietnam to make the deposit and withdrawal time faster and easier instead of other deposit and withdrawal forms. So that we can withdraw interest daily, weekly, or need to rotate capital, withdraw money will be faster.
Promotion at HotForex
HotForex has many attractive promotions for its customers. HotForex will have different promotions depending on different times. To track and update current HotForex promotions you can see here.
Loyal customers
For loyal customers, HotForex also regularly organizes contests, offers items, ... and has its own preferential promotion policy,
Customer support at HotForex
For traders in Vietnam, HotForex is one of the exchanges with a relatively good support team and a representative office in Vietnam. HotForex supports 24/5 via phone, email, online chat, Skype.
OPEN HOTFOREX ACCOUNT
HotForex's registration process is quite simple.
Step 1: Access the HotForex account registration page here.
Step 2: Fill in the required information
Step 3: Verify your account.
Note: Any exchange will require you to complete your account verification to prevent money laundering. So, please complete account verification before making a deposit to trade.
Documents to be prepared for account verification:
You prepare authentic documents such as Identity Card, Driver's License, or Bank Statement with personal information that matches the personal information you have registered.
HotForex will browse information and send notifications via Email after browsing. If there is any additional information they will also advise. You can also chat with support via the chat window if you have any questions during the registration process. (Or see the FAQ section below, or the comment below I will guide you)
Tip: Account statements you can use online statements to post by changing your Internet Banking language into English. After that, download the file, see if the personal information is correct, if the address is not correct, you can correct it, then export the file as a pdf and then upload it to HotForex.
Frequently asked questions
Which account should I choose?
Depending on your trading style to choose the right account.
New traders can use their Cent account to practice trading with small amounts first. Then you can sign up for other accounts like Premium or Zero Spread.
Main information: HotForex
Trading platform: MT4, MT5
Minimum deposit: $ 5
Maximum leverage : 1000: 1
Demo : ✔️
Payment methods: Bank Wire · Credit Card · Fasapay · Neteller · Skrill · WebMoney
Account currency: EUR · USD
Language: Vietnamese · English · Arabic · Bulgarian · Bengali · Czech · German · Greek · Spanish · Farsi · French · Hungarian · Indonesian · Italian · Japanese · Korean · Malay · Three Thai · Portuguese · Romanian · Russian · Slovak · Thai · Tagalog · Turkish · Chinese · Traditional Chinese
License : CySEC, FCA, DFSA, FSC, FSA, FSCA
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