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Overview

HotForex occupies a leading position in the list of global brokers, providing high-quality brokerage services to its customers, confirmed by its numerous awards at prestigious international exhibitions. Among recent awards there are "The Best Online Broker 2012", "The Best Affiliate Program 2012", "The Best Online Broker in Asia 2012", "The Best Broker in Asia and Eastern Europe."

HotForex activities are regulated by the Cyprus Securities and Exchange Commission, where all necessary licenses are obtained and where the Head Office of the broker is located.

HotForex offers all users the opportunity to learn trading on the global financial markets for free on its site and, if necessary, to open a demo account.

The broker also holds a large number of promotions for its traders, including a variety of Forex bonuses and contests with big cash prizes and trips to resorts of Cyprus.

Bonuses

HotForex organizes for its traders a wide variety of promotions, which are updated periodically, and it also offers a Forex deposit bonus.

Forex 100% bonus is available for new customers of the broker. It allows them to start trading on the foreign exchange market with a larger initial capital. Initially Forex bonus is only available for trading currency pairs, gold, silver, crude oil, securities and indices, but bonus money can be cashed, making a certain trade turnover. For every 1 bonus dollar traders should close 10 standard lots and they have more than enough time for that, as time is not limited.

Forex 50% repeated deposit bonus is available for all clients of the broker. To get it, customers need to fund their personal trading accounts and it will be available for trading on the foreign exchange market or global markets. Forex bonus can be withdrawn from the account by traders after meeting the requirements of the HotForex, namely, closing of 10 standard lots for one bonus dollar.

Rescue Forex bonus is available for all traders of the broker and it will be necessary in case of an unexpected drawdown while trading on the foreign exchange market. The sum of the Forex bonus is 15% of credited funds. It can be used only to increase the margin for trading on the global financial markets.

The contest on demo accounts is held by the broker regularly and it is open to all traders. Duration of the contest is 1 month. The initial startup capital for all participants comprises $100,000. The prize pool is $3,500. Winners are three participants, who show the greatest profit before the deadline. The prize pool is distributed among the winners in the percentage, i.e. based on the value of profits, earned during the competition.

HotForex updates constantly its promotions, but among them the following ones deserve to be estimated: VIP Contect with the grand prize of two tickets to the resort of Cyprus, Race to Rewards - the grand prize is $5,000, as well as Traders Awards - the grand prize is $1,000.

Training

HotForex offers all users to pass free training of Forex trading on the foreign exchange market using print materials and video tutorials that are available on the site of the broker. Some materials are now unavailable in Russian.

Learning materials:

1. What is the Forex market?

2. What currency pairs are used for trading?

3. Price formation on the currency market.

4. What is margin?

5 Risk calculations while trading currency pairs.

6. Basics of technical analysis:

- trading charts

- trends

- Japanese candlesticks

- moving average

- support and resistance levels.

7. Basics of fundamental analysis

8. Trading Forex strategies.

Video tutorials:

1. Textbook about operations with trading platform MetaTrader 4:

- how to install the trading platform

- how to open and close trading orders

- order execution

- order changing

2. Learn how to trade on Forex:

- main advantages of the foreign exchange market

- terms, used while trading currency pairs

- all types of orders

- lucrative Forex strategies

- glossary.

3. Learn to understand the currency market:

- Forex world

- use of Japanese candlesticks in trading

- calculation of gains and losses

- identifying trends and trendlines

- support and resistance levels

- Fibonacci numbers.

HotForex also gives clients the opportunity to apply their knowledge in practice without the risk of losing their own funds. It can be done by opening an educational trading account. The trading account is available for trading on the Forex market in real time, but with virtual money within 30 days, then it will be closed by the broker.

Terms of trading

HotForex offers the following trading conditions for traders:

- the foreign currency account (the base currency)

- the minimum deposit is $50

- the leverage is 1:400 and 1:1000

- a lot of currency pairs, securities, gold, silver, futures

- fixed spread is from 1 point (the floating one is from 0.4 points)

MetaTrader 4

- multi-language support

- Instant Execution order

- a wide range of Forex indicators

- addition of new indicators

- MetaQuotes Language 4 (operations with trading Forex advisors)

- quotes export via DDE

- charts printing.

HotForex Web Trader

- multi-language support

- trading through the browser without downloading the client program

- trading order opening and closing

- web-charts

- compatibility with Linux, Macintosh and PC.

HotForex offers traders to open one of the four trading accounts that differ in trading conditions on the foreign exchange market.

Trading accounts:

- Micro

- Premium

- VIP

- Currenex

- Zulu.

Trading account Micro (for novice traders):

- the minimum deposit is $50

- the minimum trading lot size is 0.01

- fixed spread is from 1 point

- the leverage is 1:1000

-the use of Forex expert advisors is available

- no commission.

Trading account Premium (for experienced traders):

- the minimum deposit is $500

- the minimum trading lot size is 0.01

- fixed spread is from 1 point

- the leverage is 1:400

- the use of Forex expert advisors is available

- no commission.

Trading account VIP (for professional traders):

- the minimum deposit is $40,000

- the minimum trading lot size is 0.1

- floating spread is from 0.4 points

- the leverage is 1:400

- the use of Forex expert advisors is available

- commission is $3 of the trade turnover of 100,000 dollars

- personal manager

- Internet trading contests are available.

Trading account Currenex (for traders, who prefer scalping):

- the minimum deposit is $500

- the minimum trading lot size is 0.1

- floating spread is from 0.4 points

- the leverage is 1:400

- the use of Forex expert advisors is available

- commission is $5 of the trade turnover of 100,000 dollars

- personal manager.

Trading account Zulu (for investors):

- account is managed by professional traders

- the minimum deposit is $50

- the minimum trading lot size is 0.1

- fixed spread is from 1 point

- the leverage is 1:300

- no commission.

Forex indicators (recommended)

- Market Profile

- Beginner

- Fisher

- Price Alert

- Coppock.

Forex expert advisors (recommended)

- Framework (an automated Forex expert advisor that uses several popular technical indicators, giving it the opportunity to find the optimal market entry and exit points)

- Spike Trader (an automated Forex expert advisor that analyzes data of the currency market with the help of Japanese candlesticks, allowing it to identify lucrative trends and make a good profit on Forex)

- Binario (an automated Forex expert advisor, based on analysis of moving averages, making it practically universal, so it can be used for trading any currency pair at various distances).

Investments

The only possibility to invest money in professional managers on the site of the HotForex is opening the trading accounts Zulu. Automated trading on the foreign exchange market is carried out on trading accounts by professional traders, who receive a certain interest of the investors' profits.

Unique features

HotForex provides its traders with the unique opportunity to use various calculators while trading on the Forex market, which will be good assistants in making serious decisions.

Web tools of HotForex:

- Forex Risk/Benefit Calculator

- Forex Position Size Calculator

- Forex Pip Calculator

- Forex Pivot Point Calculator

- Forex Fibonacci Calculator.

Broker HotForex enables its customers to receive extra profit by becoming participants of an affiliate program. The affiliate program has several levels and every trader can get a commission in the amount $15 for 1 lot, closed by new customers, whom he attracted to the HotForex.

Add/withdraw funds

HotForex provides the following methods to deposit and withdraw funds from the accounts: VISA, Visa Electron, Maestro, MasterCard, American Express, Web Money, NETELLER, Skrill, TrustPay and bank transfers.

Contacts

HotForex supports its customers 24 hours a day on weekdays via online chat, e-mail addresses: [email protected] (questions concerning payment), [email protected] (questions concerning trading operations), as well as by international phone + 357-24-020052 or by free phone 8-800-100-6286 for residents of Russia.

Cons and pros

+ the world famous broker

+ the minimum deposit is $50

+ small spread

+ good leverage

+ numerous Forex bonuses

+ many contests

+ learning materials.

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