HotForex offers the ever MT4 platform, which can be downloaded, used on mobile devices, or accessed over the web. They also have the latest MT5 platform, which can be accessed by download, mobile, or online.
Both systems are powerful and provide faster running time. Your bandwidth and location may have a minor impact on this.
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Hotforex
HotForex was founded in 2010 and is regulated in one tier-1 and three tier-2 nations, making it a safe (average-risk) forex and CFDs broker. HotForex is a MetaTrader broker that provides the whole MetaTrader suite and Premium Trader Equipment, an optional equipment package for customers that enhances the everyday experience. Over 1000 securities are available to customers, including CFDs on popular instruments and roughly 50 forex pairs. HotForex’s cost varies drastically depending on the account type. There are six distinct account types to choose from. Although HotForex’s price is better than the industry average, it still lags behind low-cost leaders like CMC Markets and IG.
Commissions and Fees at hotforex
Except for the commission-based Zero account, HotForex offers five account types, all of which are spread-only (commission-free). The Premium and Premium Pro accounts are spread-only accounts with minimum deposits of $50 to $600, while the HFcopy account is for copy trading. According to HotForex’s research, the Zero account is the most affordable because it has the lowest spreads and a tiny per-trade fee.
On the Zero account, typical spreads on the EUR/USD are 0.1 pips, with a commission of around 0.6 pips ($3 per side) each trade, for a total all-in cost of 0.7 pips. Trading fees are lower on the Zero account, but margin requirements are two times higher than the Premium account, with an average spread of 1.2 pips. There is also a limit of 60 lots per account (7 lots on the micro account), significantly lower than FxPro or IG.
Bitcoin Trading is Now Available at HotForex
HotForex, the globally renowned multi-asset broker, has now indeed Bitcoin to its Cryptocurrency CFDs, allowing traders to buy and sell it after initially offering it as a deposit option earlier this year.
According to a HotForex representative, “Since its inception, Bitcoin has been swiftly altering the financial sector. Here at HotForex, Believing in providing our clients with the most up-to-date instruments, tools, and learning material adding this hot current cryptocurrency to our goods was a natural next step. Providing the choice to purchase or sell distinguishes us from brokers who only allow customers to buy. Hopefully, customers enjoy these new options.”
HotForex Customer Service
founded the account registration process to be a little lengthy. There were a lot of industry-specific questions, but activating the account took ages. Because applied over the weekend, the support response time was understandably slow. The questions are intended to ensure that clients have sufficient and CFD expertise to open an account, which is admirable.
They provide email, phone, and LiveChat help 24 hours a day, seven days a week. The markets open at 23:00 (GMT), and support is provided until the markets close at 22:00 (GMT) on Friday (GMT).
Conclusion
HotForex is a global broker with a smart website and many tools for traders to use. The terminology used is simple, and they explain the fundamentals of trading Forex and CFDs effectively.
HotForex is easy to suggest because it offers a wide range of trading alternatives and various deposit ways.