HF Markets Europe Ltd (CIF), which operates under the brand name of Hot Forex, was founded in 2010 and is registered under number HE 277582. This broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), license # 183/12. HotForex abides by MiFID regulations, and is also registered with the following authorities: FCA (UK), BaFin (Germany), CONSOB (Italy), ACP (France), CNMV (Spain), KNF (Poland), HFSA (Hungary), AFM (Netherlands), Danish FSA, FI (Sweden), CNB (Greece), CMVM (Portugal) and several others. A reputable, and well regulated that broker, that we would like to discuss with a more in depth approach in this article.
The trading platforms that Hot forex offers its clients feature the classic composition of a web trading platform, Meta Trader 4, as well as its mobile variants, however something that is not so commonly found among brokers that we review, is support of Meta Trader 4 Multiterminal.
With that being said, here are the core account types that are offered at Hot Forex:
Micro
Minimum deposit: 50$
Maximum Leverage: 1:1000
Spread: floating, starting with 1 pip
Commission: none
Maximum orders that can be opened simultaneously: 150
Margin Call / Stop out level: 40% / 10%
Premium
Minimum deposit: 500$
Maximum Leverage: 1:400
Spread: floating, starting with 1 pip
Commission: none
Maximum orders that can be opened simultaneously: 300
Margin Call / Stop out level: 40% / 10%
Zero
Minimum deposit: 100$
Maximum Leverage: 1:200
Spread: floating, starting with 0 pips
Commission: yes
Maximum orders that can be opened simultaneously: 500
Margin Call / Stop out level: 50% / 20%
Currenex
Minimum deposit: 500$
Maximum Leverage: 1:400
Spread: floating, starting with 0.2 pips
Commission: yes
Maximum orders that can be opened simultaneously: 350
Margin Call / Stop out level: 50% / 20%
Fixed
Minimum deposit: 500$
Maximum Leverage: 1:400
Spread: fixed
Commission: none
Maximum orders that can be opened simultaneously: 300
Margin Call / Stop out level: 50% / 20%
VIP
Minimum deposit: 20 000$ / 18 500€
Maximum Leverage: 1:300
Spread: floating, starting with 0.2 pips
Commission: yes
Maximum orders that can be opened simultaneously: 400
Margin Call / Stop out level: 50% / 20%
Auto
Minimum deposit: 500$
Maximum Leverage: 1:400
Spread: floating, starting with 1 pip
Commission: none
Maximum orders that can be opened simultaneously: 300
Margin Call / Stop out level: 50% / 20%
Notably, the broker also offers a special account type for Islamic customers, which has similar conditions, but no rollover incurred.
The account currencies that Hot Forex currently supports, are USD and EUR. Regardless of the account type and currency, all trades are processed with market execution, and there’s an impressive list of available instruments too – 47 currency pairs, 10 indexes, 36 futures, metals and commodities and CFDs.
Something that newer traders would also find useful, are online training courses and live webinars that are held regularly, to help traders succeed. Of note are certain promotions that are conducted several times throughout the year – you may be lucky to stumble upon one. Those include special offers, competitions, and a bonus system.
Deposit and withdrawal options are good enough – Bank wire, Visa/Master Card/Maestro, as well as several epayment systems: Qiwi, Skrill, Neteller, Sofort and more.
Generally, we Hot Forex made a good impression on us, but with one “regional drawback that is worth mentioning – they seem to have a rather large list of countries, whose residents are not accepted. While the US or North Korea were to be expected on that list, Canada, Belgium, Iran, Sudan and Syria are a more unusual lot among them.
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