HotForex, or to give the company its full name 'Hot Forex Markets (SV)', is a Forex traditng platform that is based in St Vincent and the Grenadines. This broker is registered officially as an International Broker (with a company registration number of 22747 IBC). HotForex is licensed and regulated by CySec (its license number is 183/12) and it provides all of the legal documentation relating to its licensing and regulation as a company on its website. It has been in business since 2011, and as a result has survived beyond the 3 year mark that is usually a difficult hurdle for new trading platforms to pass.
Types of trading and platforms that are supported by HotForex
HotForex primarily (as the name of the company indicates) offers Forex trading, however this broker also provides a platform and associated tools for trading commodities. Binary options, one click trading, and various other platforms are supported here. HotForex also provides assistance in the form of trading calculations, articles relating to successful trading, and other practical and educational materials. HotForex is designed for use by both private traders and retail or industrial clients.
What type of accounts are available?
There are several account types available: one to suit everyone's needs. From the low maintenance Micro Account to the high powered VIP Account and the advanced Zero Spread account, there are a range of options here.
Desposit and withdrawal options
There are all of the deposit and withdrawal options that you would expect from a Forex broker, including wire transfers, debit and credit cards, and online payment providers (such as PayPal and Neteller). Fees and commissions associated with deposits and withdrawals differ depending on which method you are using; deposit and withdrawal time frames also vary in this way.
Bonuses and other special features
HotForex offers free signals and bonuses such as free market calculations, free funding, and a variety of competitions that revolve around winning everything from gadgets to HotForex merchandise. Another promotion offered by this site is the HotForex Mastercard, which can function both as a source of general credit and a method of financing your trades as you use HotForex.
Pros and cons
The Pros of using this broker include its reliability and transparency, the great range of account options that are available to you, and the wealth of educational material that is provided. The free calculations are very handy, too! The Cons include the way in which the site attempts to tempt you to buy its merchandise or participate in promotions and contests on a regular basis. The trading here is also very manual in form, and some traders might prefer it to be more automated to enhance the efficiency and convenience of their trades.
The HotForex site is very rich in terms of the information provided, the interesting offers, and the types of commodities that you can trade. This is a reliable Forex trader which provides an account option for all site users, and provides plenty to entertain and inform you. Great for advanced and intermediate traders especially.