Best Forex brokers

Forex Brokers	Min Deposit	Platforms	Max Leverage	Rating	Secure Link
1	$250	MT4, MT5	1:30	4.9/5	Visit Site Read Review

Hotforex : To specifically address trader needs of in different preference categories and experience levels, clients of HotForex are offered the freedom to choose from a wide range of different account types. The options include floating and fixed spreads, trades which are commission-free (Micro, Fixed and Premium accounts) or sophisticated spreads, having commission fees. Just $50 can be used to register a micro account. All account types are allowed micro lots trading.

In addition to the account types mentioned above, 2 other copy trading types are offered by HotForex: Auto Accounts, which enable free subscription for traders and the Trading Signals of MQL5 Community (built as part of the trading terminal of MT4) which are paid; HF Social, offering FxStat powered trading.

Furthermore, swap-free accounts (Islamic) designed for clients unwilling to make interest gains because of religious belief can be gotten with an initial deposit of $150.

THE COMPANY. SECURITY OF FUNDS

• Company
• Country Regulation
• HF Markets (Europe) Ltd
• Cyprus CySEC
• HF Markets SA (PTY) Ltd
• South Africa FSB

The Forex retail broker, HotForex offers eye-catching trade conditions with a variety of instruments such as Forex, indices, CFDs and Spot Metals on commodities and widely known shares like Facebook, Google, and Apple.

A company group involved in many different jurisdictions has HotForex as brand name. HF Markets (Europe) Ltd is the most reliable in the group. With license from (CySEC) Cyprus Securities and Exchange Commission, it is registered in the European Union.

The broker recently acquired an FSB, South African license and has operations in two units offshore (HF Markets (SV) Ltd.,with St. Vincent & the Grenadines incorporation) and (HF Markets Ltd., registered in Mauritius.

Cyprus has recently been placed among the most interesting destinations for forex brokers because of its regulations are very much balanced. High requirements of entry capital, low maximum limits of leverage and other tough regulations have combined to produce reducing effects on competition in Japan and the US. Lightly weighted regulation could be injurious to safety and credibility.
Some of the requirements and rules applied by CySEC Cyprus Investment Firms don’t compare in strictness to those in a country like the US, though their level of credibility is commendable. CIFs (Cypriot Investment Firms) are required to hold at least €1,000,000 as proof of their strong financial stand. They are also required to separate customer funds from the operating funds of the company in segregated accounts.

An additional guarantee to the funds of clients is the fact that all companies regulated by CySEC are Investor Compensation Fund members, with the ability to make maximum compensation payments of 20,000 EUR, in situations where the company goes into default or bankruptcy.

Every investment company regulated by CySEC also complies with MiFID, giving them entitlement to the provision of services following the MiFID Passporting Regime across borders within the EU.
Moreover, the broker has also been registered with several regulators in the EU such as BaFin from Germany, UK’ FCA etc.

Hotforex CONDITIONS FOR TRADE

Initial Minimum Deposit
Account registration with HotForex requires a minimum investment of $50 for traders. This value is relatively low, though less is required by numerous brokers based in Cyprus. For example, just $5 is demanded by XM and FXTM from starting clients.

Hotforex SPREADS & COMMISSIONS

Both fixed and floating spreads are offered by this broker. Fixed spreads amount to relatively low figures of 1.8 pips on EUR/USD. Fixed spreads of 1.8 pips are comparatively offered VIP accounts of Easy-forex.

With regards to HotForex floating spreads, accounts which are free from commissions typically amount to 1.2 pips on EUR/USD which is an average figure. The ones with the most interest to us are Zero account conditions: 0.1 pips on EUR/USD are averaged with $4 for every 1.00 lot (per side) commission traded. So including commission, trading basically costs sum to about 0.9 pips. A Zero account can be opened with $100 only.

For comparative reasons, Exness’ commission-free accounts have variable spread averages reaching values of 0.9 pips on EUR/USD, meanwhile, average spread values of 0.4 pips on EUR/USD are offered to ECN account holders with a commission for every standard lot of $5.

Hotforex LEVERAGE

HotForex has a relatively high maximum leverage limit reaching 1:1000. Leverage ratios are capped by certain jurisdictions at levels considerably lower (1:100 in Poland, and 1:50 in the USA).

These leverage limitations are due to the fact that losing risks, which could sometimes surpass initial investment, is directly proportional to the level of the leverage. Several brokers based in Cyprus offer similar leverage levels to those HotForex provides (XM – 1:888 max), or higher – maximum offered by Exness is 1:2000. Here, other FX brokers with similar or leverage levels that exceed 1:500 can be seen.

Hotforex PLATFORMS FOR TRADE

MetaTrader4 (MT4), the standard platform for forex trade is supported by this broker. MT4 is a trading terminal which is globally commended, offering a fully stocked range of resources and tools for trade: technical indicators which are inbuilt, many different Expert Advisors (EAs), advanced charting package, and options for expanded back-testing. Traders are also offered the freedom of downloading EAs already made or generate theirs allowing the program to work entirely independent of human emotions.

HotForex makes MetaTrader 4 available in desktop, mobile and web versions for its clients. Here, other brokers can be seen which make use of the MT4.

Furthermore, the MT4 MultiTerminal provided by HotForex presents a convenient and practical medium through which multiple accounts can be managed using one interface.

VPS hosting is additionally provided for existing and new clients who make the minimum deposit of $5000, with this amount being maintained during the following months. Order execution through the hours of 5 week days is offered with VPS hosting.

PROMOTIONS

The following are promotions run by HotForex during the period when this review was written:

• 100% SuperCharged Bonus – accompanies every $250 deposit by Premium, Islamic, Currenex, and FIX accounts holding at least $50,000;
• 30% Rescue Bonus – applies to the totally non-withdrawable $7,000 maximum
• 100% Credit Bonus – enjoyed by new deposits and transfers between $100 minimum internal trading
• accounts (available on Premium, Micro, Islamic, Currenex and FIX account types), with withdrawal
• possibility once the requirements on trading volumes are reached.
• Competitions based on performance: $3500 pool prize demo contest;
• Other promotions in progress: a cash prize of $1000 and HTA award to showcase and reward the brilliant skills required for exceptional performance.

PAYMENT METHODS

A wide spectrum of methods of payment is supported by HotForex: debit/credit cards (MasterCard, Visa Electron, Visa, American Express, Maestro), e-wallet systems of payment like

• Neteller,
• Skrill,
• WebMoney,
• iDeal,
• TrustPay,
• Sofort,
• Przelewy24,
• Western Union,
• bank wire transfers.

CONCLUSION

The EU based broker, HotForex, has won numerous awards as it provides a great variety of account types and trading tools in conditions of competition.