The Verdict
While trading with HotForex you can operate with fixed or floating leverage, which is indeed a very useful tool, especially for traders of smaller size. Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times. Yet remember that leverage may work in reverse too, defining also your risks, that is why it’s so important to understand how to use tool smartly.
HotForex offers various leverage levels from the “modest” one as determined by European regulations and various other measures, and up to very high ratios. Yet, again always make sure to learn about high risks of leverage, as retail trading accounts lose money rapidly due to high leverage.
Each of the account types bringing the particular possibility for your trading strategy while allowing either beginning traders, investors or professionals to find its own way in trading. The options ranging from the opportunity to trade Micro lots, or specified account for Copy Trading or if you would like to become a Masker account. You may see below in our HotForex Review detailed discrepancy of each in order to understand what offering is about.
Overall, HotForex is a well-established broker with secure, regulated trading environment suitable for almost every trader. The services and products are tailored to specific requirements while bringing a comprehensive range of clients’ accounts, platforms, tools, and instruments with the ability to choose a suitable strategy. So either you wish to join copy traders or to use EAs, perform scalping or become a partner etc. there is an option for all. As well, HotForex pricing strategy shows transparent prices with one of the highest rates in the industry.
User Reviews
Maxim Rage
12/11/2021, 15:28
2
5
Hotforex is Misleading. Its Market maker not ECN. I used their zero spread account which it claims to be ECN but is not quite ECN. I haven't used auto. Hotforex though a legit broker but hides crucial details that noobs might simply ignore. 1) Though they claim to be an ECN broker there all orders are routed through HF markets which is their partner company. Now HF markets have market maker license from FCA thus its not pure ECN though it claims to be. 2) No proper disclosure of exchange rate while depositing and withdrawing from local banks unlike other brokers like FXTM. I deposited USD at exchange rate of 73.5 USD/INR but received back USD/INR 69.5 which is as bad as swift transfer. Then why claim zero fees or provide local bank facility just use wire transfer. 3) True ECN does not have minimum stop loss and limit order pips requirement which is worse than many who don't even claim being ECN.
