Looking for a trustworthy and successful forex broker to make your trading decisions rely on? Hot Forex is a broker that exclusively supports meta-trader and provides access to currency and commodities through a selection of six distinct account types.
This broker provides small spreads with an average of 0.1 EUR/USD. Any size or type of trader can easily access unlimited liquidity and select from a wide range of spreads and liquidity providers. For all forms of strategy, HotForex offers a variety of research tools.
What Countries Regulate Hot Forex?
CySEC, the regulatory body in Cyprus, has awarded Hot Forex authorization and supervision. The Financial Services Authority (Seychelles), the Dubai Financial Services Authority (DFSA), and the Financial Conduct Authority are some of the other central regulators.
It also claims many cross-border licenses, proving its reliability in Europe and the United States.HotForex is highly regulated and well-established in both the U.S. and the E.U., and it follows all necessary precautions and controls to guarantee the security of its customer’s funds.
Fees for Hot Forex Trading
When compared to other brokers, Hot Forex’s trading fees are a little more than average. Unlike most brokers, Hot Forex offers five different account types, although the majority only offer three or fewer. Depending on the account type a trader picks, trading expenses will change.
All five accounts have higher average trading costs overall, given the differences, even though the accounts have different advantages in terms of trading methods and minimum deposits.
To compare the expenses to those of other brokers, the accounts of Hot Forex were evaluated. The costs were assessed using the spread, commission, and trading fees for one lot (100 000 USD) on the EUR/USD:
At comparable Forex firms, a lot of EUR/USD trading often costs around 9 USD or less. Except for its ZERO Spread Account, which has expenses that are considerably below average despite requiring a 200 USD minimum deposit, Hot Forex’s trading fees are slightly higher than average compared to those of other brokers. The flexibility of placing a bet on whether Bitcoin rises or falls without getting to actually own any Bitcoin is provided by using CFD crypto to trade cryptocurrencies.
Hot Forex Leverage
You can choose between fixed or variable leverage when you trade using Hot Forex, which can be very helpful, especially for smaller traders. But it’s essential to be aware of the risks that power involves: the risk increases with increasing leverage.
Several leverage levels are available, ranging from “small” power (as defined by E.U. laws) to incredibly high ratios.
Besides the cryptocurrency market, Hot Forex allows traders to open positions in any financial market. More than 1200 different trading instruments are available.
Many traders go to Hot Forex. Various tradable assets, including Forex, metals, energy, stocks, indices, bonds, commodities, DMA stocks, and ETFs, have different leverage on hot Forex.
All inactive accounts for more than six months are subject to an inactivity fee from HotForex. A $5 fee is assessed if an account is inactive for six months and a year.
Are the spreads on Hotforex high or low?
Traders receive RAW and highly tight spreads on the Hotforex ZERO spread account, with no hidden markups. This account’s meagre starting commission rate is USD 0.03 per 1,000 lots.
Are the spreads at Hotforex fixed?
Although Hotforex spreads are typically set, there is always a chance that they could expand during rollover hours and when important economic news is released.
Market-leading insurance from HotForex
The company has taken extra precautions to protect its liabilities to clients and obtained an insurance programme with a €5,000,000 limit that includes industry-leading coverage against mistakes, omissions, carelessness, theft, and other dangers that could result in financial loss.
HotForex genuinely cares about its customers’ experiences. The broker also pays attention to each client’s level of market expertise and education simultaneously. As a result, it offers Forex traders extremely well-developed teaching material.
HotForex provides a wide range of training webinars and podcasts involving industry specialists debating essential trading tools and subjects. In addition, a trader has access to a library of instructive literature on various topics.
Webinars, how-to, and tutorial videos are additional educational resources that are highly beneficial for beginning traders to gain theoretical understanding before doing live trading.
Depending on the account and market chosen, trading with HotForex will generally involve fees starting at $5, spreads starting at 0.1 USD, and commissions starting at $3. Excellent trading conditions, 100% set spreads, stop loss, and leverage when trading cfd crypto with a regulated broker.