Hot Forex
Overall Rating:★ ★ ★ ★ ★ (4.7 / 5)
Introduction★ ★ ★ ★ ★ (5/5)
Licensing and Regulation★ ★ ★ ★ (4/5)
Mobile Trading★ ★ ★ ★ ★ (5/5)
Brand & Functionality★ ★ ★ ★ ★ (5/5)
Registration Process★ ★ ★ ★ ★ (5/5)
Depositing Process★ ★ ★ ★ (4/5)
Product Offering★ ★ ★ ★ ★ (5/5)
Trade Execution★ ★ ★ ★ (4/5)
Banking★ ★ ★ ★ ★ (5/5)
Customer Support★ ★ ★ ★ ★ (5/5)
Trading Tools★ ★ ★ ★ ★ (5/5)

Broker Information

User Rating
Hot Forex
5 (100%) 1 vote[s]
Leverage
Instruments
Platforms
Account Types
Account Currency
Commissions
Founded
Customer Support
Min Funding

    Introduction

    ★ ★ ★ ★ ★

    Customer responsiveness is a proven path to achieve success. This is especially true when it comes to the forex trading industry. However, most companies tend to profess more than what they can deliver. Thankfully, this is not the case with Hot Forex, considered one of the best in the financial industry when it comes to giving clients exactly what they want. The company’s features and offerings are expanding with new additions that have been tailor-made to perfectly suit global traders.

    With Hot Forex, traders will be able to trade forex pairs or a wide range of CFD’s, such as cryptocurrencies, metals, energies, indices, stocks, and commodities. The company was initially established in 2010 and offers multiple-language capabilities that have managed to attract a customer base on a global scale. Many of those joined the firm due to the prestigious awards that the company received since its inception in 2012. Hot Forex also provides a vast selection of award programs and bonuses, whether you consider yourself a small-lot, big-lot, old, or new trader. Micro accounts start at $5 and increases from there, while also providing specialised accounts with zero spread trading conditions.

    Hot Forex is regarded as a Straight-Through-Processor that has managed to align its liquidity providers to house all trader types, including automated traders and scalpers. Traders are more than welcome to download the immensely popular MT4 trading platform series. They may also choose between several customised operating systems that are available through a web browser or through a mobile device to flourish in trading while on the move. There’s also an overabundance of support materials along with top-quality customer support. The company strives for transparency, openness, and honesty.

    Licensing and Regulation

    ★ ★ ★ ★

    As previously mentioned, the origins of Hot Forex can be traced back to 2010. The entities of the group are licensed and regulated by several authorities, including Mauritius, South Africa, Cyprus, and others. HF Markets Limited (Europe) is licensed and regulated by CySEC while the HF Markets Limited (South Africa) is licensed and regulated by the Financial Sector Conduct Authority.

    Mobile Trading

    ★ ★ ★ ★ ★

    Hot Forex gives you complete control over your trading account, whether you are using a Mac or Windows PC, or a mobile or tablet device. The company developed dedicated mobile apps for both iOS and Android devices, providing trading tools and advanced charting together to create the perfect opportunity to trade on the move. The Android mobile app is available on Google’s Play Store, while the iOS app is available on Apple’s App Store.

    The dedicated mobile apps from Hot Forex gives traders access to chart movements, technical analysis, financial markets, and the ability to make orders from anywhere across the globe. It’s also comes equipped with intuitive currency charts, trading history and the ability to modify and close existing orders. It includes live tick charting trading, over 20 indicators, and real-time Loss/Profit of live trades. What’s even more impressive is that the site provides a comprehensive guide on how to download the app. There is information on how to connect your account and how to utilise the features directly from the palm of your hand.

    Brand & Functionality

    ★ ★ ★ ★ ★

    There is no better way to evaluate a brand and its functionality than looking at the trophy cabinet, and Hot Forex certainly leads in this department when you take a look at all their award over the last few years. The company received the Best Forex Affiliate Program Award in 2012, the Best Online Broker in Asia Award in 2012, the Best Online Broker in Eastern Europe Award by World Finance Magazine, the Best FX Online Broker Award in 2012, the Best Forex Affiliate Broker in Western Europe Award in 2013, the Best Forex Broker in the Gulf Award in 2013, the Best Introducing Broker Program Award in 2013, the Best Online Broker in Asia Award in 2013, and the Best Forex Broker in China Award in 2013.

    The company also received the Best Client Fun Security Award in 2014, the Best FX Online Broker Award in 2015 and the Business Excellence Award in 2015. In 2016, it received the Best Forex News and Analysis Provider Award and Best New Forex Broker in South Africa Award in 2016. In 2017, it was rewarded with the Bizz Peak of Success Award and in 2018, the Best Global Forex Trading Education Provider Award in 2018 and Best Forex Broker in Latin America Award in 2018. As an added point of interest, it is included in the Top 100 Companies by the World Finance Magazine. This alone tells you that Hot Forex is one of the best online financial trading companies in the world when it comes to the brand and its functionality.

    Registration Process

    ★ ★ ★ ★ ★

    Traders can choose between two account types before registering a new account, including a Live Account and a Demo Account. Registering a Live Account is extremely quick and easy. This is due to you only needing to provide your account type ( individual, corporate, or joint) as well as your account currency base. You then need to enter your personal information and select whether or not you would like to receive promotions, product updates, and company news before agreeing to the terms and conditions.

    Once your account is successfully registered, you will need to confirm your email address by clicking on “Activate Now” within the email you received from Hot Forex. Once your email address is verified, you will be greeted with the myHF area. From here you can view your trading accounts, announcements, trading rewards, and featured releases. Once you familiarise yourself with the myHF area, you will need to complete your registration with a more in-depth series of questions. This will include address details, nationality, economic profile and investor information. Lastly, you will need to complete an assessment questionnaire before you’ll be able to make a deposit on your account.

    Depositing Process

    ★ ★ ★ ★

    Once your account is fully registered, and you have uploaded your ID and Utility Bill to confirm your date of birth and address details, you can make your way to the banking section to select a deposit method to fund your account. Hot Forex offers a wide variety of deposit methods, including Bitcoin by Skrill, Bitcoin Cash, Wire Transfer, Neteller, Skrill, Mastercard, and Visa. The minimum deposit at Hot Forex is $5, and you need only to select your preferred payment method to prceed with a deposit. This will see you entering the necessary details to register your payment method and the amount you wish to deposit. It’s truly that easy.

    Product Offering

    ★ ★ ★ ★ ★

    Traders can choose from 3 account types, including a Micro account with a minimum deposit of $5 up to $499, a Premium Account with a minimum deposit of between $500 and $39,999, and a VIP account with a minimum deposit of $40,000 or higher. The leverage will vary from account to account, with Micro giving 1000:1, Premium giving 400:1, and VIP giving 300:1.

    The company also has a fourth account, known as the Currenex account with a minimum deposit of $500. There’s also an Islamic Account with a minimum deposit of $150. The biggest selling point for Hot Forex is the 50% bonus on new accounts, while also providing scalping currency trading. What’s even more impressive is that Hot Forex provides extremely tight spreads. For instance, USD/EUR: 1.6 pips, USD/GBP: 2.5 pips, USD/JPY: 1.7 pips, and USD/CHF: 1.9 pips.

    Trade Execution

    ★ ★ ★ ★

    Hot Forex provides one of the fastest and most reliable trade execution speeds of 0.1 seconds, regardless if you use your mobile device or the desktop version of the site. Traders will also be able to contact a dedicated trade execution desk via telephone if you don’t have access to the internet. This is ideal if you are unable to connect to the Hot Forex trading platform, or if you fail to receive a confirmation on any placed orders.

    Banking

    ★ ★ ★ ★ ★

    The banking section at Hot Forex is one of the most reliable and trusted destinations on the site. This is due to it utilising the most advanced SSL encryption technology to safeguard your information from third-party hackers. The company is also not allowed to provide any of your personal details to affiliate sites and comes equipped with a truly comprehensive range of secure payment methods to easily and effortlessly transact on your account.

    Customer Support

    ★ ★ ★ ★ ★

    Hot Forex can be reached in several innovative ways if you ever have a problem or query on your trading account. Traders can send a quick email, give them a call, or chat to them directly from the site via a live chat facility. The support desk is available around the clock and offer friendly, helpful, and professional support. The site also comes equipped with an all-inclusive FAQ section for added convenience.

    Trading Tools

    ★ ★ ★ ★ ★

    Hot Forex uses the world-renowned MetaTrader 4 platform, as well as the newly developed MetaTrader 5 platform, that impresses with a wide range of customisation options and several innovative features. The MT4 and MT5 trading platforms will give traders access to nine different timeframes, detailed analysis on quote dynamics and the ability to view several charts simultaneously. It includes the capability to overlay analytical objects, access preprogrammed analytical tools, and more than 50 built-in tools and indicators. This allows you to ensure you have everything you need on both desktop and mobile devices.