Do you have a plan to begin forex trading through HotForex but are not sure about their trading conditions and the account types? If yes, then you have landed at the right place.
All the brokers have their advantages and disadvantages. So, you must know all the important details related to the broker. Delve into the article to know more details.
Regulation of the Hotforex
It is highly important for every forex trader to choose the broker that is regulated by a bunch of well-reputed jurisdictions. Fortunately, Hotforex has the license from various top-notch regulatory bodies that we will enlist below:
FSCA
Cysec
FSA
FCA
CMA
Forex Trading Education provided by the HotForex Broker
HotForex’s website provides you with a wide range of educational material. There is an e-learning centre offered by HotForex that assist you greatly in getting information.
Furthermore, they also organize webinars on a regular basis that assist you in learning the various technicalities associated with forex trading.
You can also get video clips related to various topics that assist you in comprehending things in a better manner. Therefore, if you are a beginner, then it is a great opportunity for you.
Trading Conditions of Hotforex
Hot forex claims that the trading conditions in all of their five account types are the best possible. So, here we are going to discuss all of them.
Demo Account
HotForex provides a demo account so you can dive into the trading world without having any fear and can use virtual money. HotForex provides
HotForex the digital funds worth $100,000.
Leverage
The leverage of HotForex varies from account to account. The leverage ranges from 1:100 to 1:1000.
It should be noted that 1:1000 leverage is quite high. Especially for new traders, it is challenging, and they may end up failing.
Lot Sizes and Spreads
Hotforex provides the Zero Spread account, which is a great option, but it will grab more commission rather than spread. In less volatile markets, it is a good option because the spreads are possibly tight.
Here we will mention the spreads of all the account types.
EUR/USD 1.0
GBP/USD 1.2
USD/JPY 0.8
AUD/USD 1.8
Account types
HotForex offers multiple account types with different features, so it allows you to pick the one that suits you. Here are the names of hot forex account types
Micro
Premium
Zero Spread
Auto
HFCopy
Trading Platforms offered by the HotForex
Hotforex offers both famous platforms named MetaTrader 4 and 5. You can get access to it through download, web and mobile. It is worth mentioning that these platforms have high execution speeds. But the bandwidth and your location may influence it.
Final Thoughts
To conclude the discussion, we must say that if you want to pick the HotForex, then it is highly crucial to gather as much information as you can. Don’t make a decision in a hurry. Rather, take time and research properly about all the features of it such as Hot forex minimum deposit, account types etc. It will surely aid you in knowing whether it is a suitable choice for you or not.
