Hotforex Broker Review 2021
In our comprehensive Hotforex review we look into this broker’s account types, their trading fees, platform, ease of deposit & withdrawals, customer support, their bonus offerings & lot more. Hotforex is a well regulated broker (regulated by Top-tier regulators FCA, CySEC, FSCA), so we consider it very safe to deposit funds & trade with them for traders in Nigeria. They serve both retail as well as institutional clients, offering more than 1000+ asset choices including forex trading, and CFDs on commodities, energies, metals, popular stocks, and indices. As a result, HotForex aims to lead the way forward through the usage of cutting edge technology, innovative forex systems solutions, low cost commissions and unrivalled customer service. HotForex is a safe and trustworthy Forex trading broker that provides preventive measures from traders facing financial exposure. HotForex is regulated by four major financial regulators from all over the world, all of which are for separate jurisdictions.
All of these resources are available to anyone and they are ideal for those trading out their trading journey and more experienced traders alike. There are many different deposit and withdrawal options available for users of the HotForex platform. MasterCard and Visa cards are of course catered for in addition to the likes of Skrill, American Express, Neteller, mybitwallet, WebMoney and bank transfers. While often times HotForex has interesting bonuses and promotions running, at the moment they do not having anything of note on offer. In the past for example, if a client deposited 250 USD into his/her approved Bonus Scheme Account he could receive a 100 % Supercharge Bonus Credit of 250 USD. If a client deposited 100 USD, he/she could receive 30 USD as part of a Rescue Program.
At every crucial moment, it is very difficult to get in touch with any HF staff including the live chat agent and account manager. My experience with the HF live chat agent give me an impression that they are like a postman or middleman between the client and the HF backend support staff. Frequently live chat agent is unable to resolve the matter. Instead the live chat agent would refer the client to email HF support or deposit team. Though I am given a direct line to the account manager, the account service manager took just as long as the time needed for the HF to process the deposit. Call to the account service manager direct line not picked.
$30 No Deposit Trading Bonus, Withdraw $60+
The Rescue Program could be used as a stop loss as there is was no limitation in using it for trading. Users were able to receive the Rescue Bonus after a loss cut. Unfortunately this is not a current promotion, but it may be worth looking out for such bonuses in the future. This means that you will be dealing with very tight spreads and low commissions. If you are a high roller, the VIP account could be for you as a result of the minimal fees associated with its use and very competitive spreads.
Operating under the brand name “HF Markets Group”, HotForex is authorized and regulated by the Cyprus Securities and Exchange Commission . The Company holds a Cyprus Investment Firm license with number 183/12 and also has a Category 1 Global Business License issued by the Financial Services Commission of the Republic of Mauritius. With HotForex, you will appreciate the high definition and high quality educational videos that will help you learn more about the trading world. You will find most of the educational videos are in high-definition and provide a step-by-step guide to teaching you. This HotForex review provides you with a list of how to communicate with the HotForex customer service support. This HotForex review will provide an in-depth analysis on the different features available in the MT5 platform.
We tested the multilingual HotForex team by calling in varying languages. HotForex made an effort to make sure our queries were answered. We tested communicating with HotForex support in multiple languages in multiple countries. We sent messages to HotForex livechat through their app and website and recieved a response within 20 minutes. Having an analytical approach may be a good way to approach trading with HotForex. If General Electric Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars.
Its mobile trading platform is called HotForex Mobile Application. The decision about which platform to choose will always depend on what a hotforex indonesia client would like to trade. The specified minimum deposit amount for an account is determined by the payment method you choose. Always consider overnight or rollover fees as trading costs in case you hold an open position longer than a day. Lastly, a fee is charged if you didn’t use your account and show no activity for six months or more.
There are more than a dozen languages catered for through the customer support team and the support is available five days per week. They also have a comprehensive FAQ section in which you will very likely find answers to your questions. The minimum withdrawal amount is $5 for all options except the bank transfer, with the minimum withdrawal being $150. It will take the bank transfer and credit cards between 2 and 10 working days for withdrawals to be fully processed. Withdrawals made through the likes of Neteller and Skrill will be processed almost instantly.