Hot Forex Review

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Hot Forex Review

Hot Forex is a well known Forex broker that provides broking services for individuals and institutional traders alike. They are based in Mauritius, and therefore benefit from the favorable Forex trading laws in place that permit high leverage and scalping/hedging trading strategies. They are highly experienced Forex traders themselves, and their service is perfectly geared towards helping their customers have the best chances of success in their trading.

Range Of Markets Offered By Hot Forex

In addition to offering traders broking services for all the major Forex pairs and crosses, like the EUR/USD, USD/JPY, GBP/USD and AUD/USD to name a few, you will also be able to trade the ever popular metals like gold and silver, oils like crude and gasoline, commodities like wheat, soybeans and corn and the major indices both in the U.S. and internationally.

Hot Forex Pip Spreads And Margin Requirements

With Hot Forex, you’re getting a highly competitive spread on all majors and crosses. They offer an exceptional 0.8 pip spread for the EUR/USD, 2.1 pip spread for the USD/JPY, 4.2 pip spread for the GBP/USD and 2.5 pip spread for the AUD/USD.

You can access up to 500:1 leverage on your account, which means that you will only need to put up 200 units of the base currency as margin for any full sized contract that you trade.

Hot Forex New Trader Bonuses

Hot Forex offers a very generous 50% withdrawal bonus upon the completion of specific trading volume targets depending on your account balance, as well as a unique 15% “rescue bonus” which gives you added protection during drawdown periods. That means that even if you surpass the margin requirements, you won’t get stopped out if you’re within the 15% “bonus” zone.

Hot Forex Online And Mobile Platforms

Hot Forex provides full Metatrader 4 support, and they have generously included many additional features in their custom MT4 terminal, including 9 custom timeframes with 50 built-in indicators and tools. They also provide full PDA, smart phone and iPhone trading support as well on demand. This is done through their proprietary HotForex MT4 Smartphone app, which allows you to trade on the go and is fully synced with your PC’s MT4 platform as well.

In addition to their custom MT4 terminal for your home computer and their smart phone compatible MT4 platform, they also provide a Web Trader platform that runs on the Adobe Flash Player software that is available on 98% of internet enabled computers out there. So long as you have the internet, you will be able to trade with Hot Forex!

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Hot Forex Trading Tools And Forex Education

Hot Forex is very big on providing a top notch Forex education, which is accessible for both demo account users and live account users alike. Their Forex education center covers the basics of Forex, technical analysis, trading strategies, trading psychology and more. It’s truly one of the most comprehensive Forex trading education courses out there!

Opening An Account With Hot Forex

When it comes to opening an account with Hot Forex, you have a range of options available to you. You can select from their Micro Account, Premium Account and VIP account, each with its own benefits and minimum deposit requirements.

A micro account is ideal for trading small volumes as practice or to test out new strategies. It mirrors the premium account so you know that you’re getting a realistic experience of a live trading environment compared to demo account trading. The minimum opening deposit for a micro account is a mere US$5, which will allow you to trade 0.01 of a full sized contract. You’ll also receive the Hot Forex e-course for free.

A premium account is perfect for retail traders, and you can open this account with a minimum deposit of US$500. As part of the package, you’ll receive free Forex signals from TradeSignals.com, as well as MYFX platform access for deposits over US$2,000.

If you have a particularly large account size, then you can open a VIP account. You’ll need a minimum deposit of US$40,000 to qualify, but the benefits are well worth it. You’ll be able to enjoy spreads from 0.2 pips, your personal account manager, and free access to the MYFX platform.

Hot Forex also has a unique “Scalper Account”, which has a minimum deposit requirement of US$500. There’s a commission of $5 per standard round turn lot traded, but you get an extremely tight spread from 0.2 pips on the majors, which is perfect for scalping strategies.

All in all, Hot Forex has a very attractive trading account package for just about any trader out there, no matter what your level of experience is. If you want to trade with one of the top Forex brokers out there, Hot Forex certainly gets my vote.