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4.5 out of 5 (GOOD)

My Hotforex trading experience is more than six months and so far i am trading hassle free without any complaints. They are providing good services including withdrawals which never went late. I am rating four and half out of five at the moment.

Kashmiri 2017-01-24

HotForex is a good broker for novice forex traders to start their careers: it lets you open an account with as little as $5 and actually trade with this money thanks to the maximum allowed leverage of 1:1000 and the minimum contract size of one micro lot. 

 
Another perk for newbies and for existing traders is that they can take advantage of a 50% deposit bonus and a 15% rescue bonus that is designed to protect accounts from drawdown periods. 
 
Along with bonuses, the broker also runs quite a few promotions: a lottery, where every week one lucky participant wins $1,000; a raffle for branded HotForex merchandise; a demo contest with a prize pool of $3,500 per month; and a Refer-A-Friend promotion, which rewards you with up to $200 for every friend you invite. 
 
HotForex customers can apply for the broker's debit card and get it for free if they make a deposit of $500 or more (alternatively, they can simply pay the $20 issuing fee for the card). Once the card is issued, traders can use it for POS payments or ATM withdrawals. 
 
The platform you will find at HotForex is the industry's most popular Metatrader 4 (MT4), and social trading is available through the Zulutrade network. The services of Tradesignal.com are also available, absolutely free of charge, to traders who have live accounts with the broker. 
 
In terms of trading strategies, HotForex is quite flexible and allows the use of expert advisor (EAs), scalping and hedging. Technical analysis traders will be happy to find a nice set of analysis tools available, the latest addition being the Trading Central software, offered for free to clients with $500 or more in their accounts. 
 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa, UAE CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website

Latest Forex News

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Jan 17 2019 08:59:23, Jonathan Smith in Market

  The UK’s Financial Conduct Authority updated its warning list with unregulated forex brokers MarketGBP, Capital-Traders, and FXTRADE777 on Wednesday. According to the regulator, these brokers have been providing financial services or products in the UK without its authorization.   In its official notices the UK financial watchdog keeps warning that “some firms act without our authorisation and some knowingly run investment scams”. Our further reasearch on the three companies revealed that more likely all of them are involved in some sort of scam. Read more

CySEC warns against World Trust Invest, Eurotrade Investments, and CoinOptions Trade

Jan 16 2019 13:32:44, Jonathan Smith in Market

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BaFin orders Prestige FM / Euro Wealth OÜ to cease operations

Jan 15 2019 11:58:26, Jonathan Smith in Market

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered Euro Wealth OÜ, operating Prestige Financial Markets brokerage brand, to cease offering illegal cross-border trading services to German investors.   BaFin said that the above-mentioned company offers German clients CFDs on currencies, equities, commodities, indicia and cryptocurrencies thorough its website www.prestige.fm, and it is not authorized to do so. The regulator also noted that Euro Wealth OÜ was formerly known as Allpro Tech OÜ, and Nostro Technology OÜ. Read more

ASIC blacklisted unauthorized forex broker 4XFX

Jan 14 2019 14:27:06, Jonathan Smith in Market

  The Australian Securities and Investment Commission (ASIC) added unregulated forex broker 4XFX to its warning list previous week.  ASIC advised investors not to deal with this broker, also known as FRG Europe OU, as it is not authorized to provide financial services in Australia and could be involved in a scam.   4XFX (operating via www.4xfx.com) claims to provide access to a lot of markets on both the MetaTrader4 and a proprietary web-based platform, but has failed to disclose its trading conditions clearly. The brand is allegedly operated by GRF EUROPE OÜ, a company based in Tallinn, Estonia. Read more

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14, Jonathan Smith in Brokers

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Trading.com Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019.   More specifically, the application is for Forex Dealer Member (FDM), NFA membership and Retail Foreign Exchange Dealer (RFED) status, which is quite an event for the US forex market. Only a few forex brokers have left legally operating there due to the heavily regulated environment and high operating costs - OANDA Corporation, IG and Forex.com parent GAIN Capital. Read more

ESMA calls for common approach on cryptocurrencies

Jan 10 2019 14:47:15, Jonathan Smith in Market

  The European Securities and Markets Authority (ESMA) has identified certain gaps and issues in the existing EU financial regulatory framework for cryptocurrencies and considers that further measures need to be taken in the sector to ensure investor protection. This became clear from ESMA’s Advice to EU Institutions (Commission, Council and Parliament) on initial coin offerings and crypto-assets published on Wednesday. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37, Jonathan Smith in Brokers

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year.   “This is an important milestone for HF Markets. The UAE and the GCC offer very promising business prospects and we look forward to great success”, commented George Koumantaris, the Chief Executive Officer (CEO) of HF Markets Group.   HotForex now enters a promising market, as the GCC (Gulf Cooperation Council) region strives to diversify their economy away from oil. Read more

FCA added SafeMarkets to its warning list

Jan 04 2019 09:06:03, Jonathan Smith in Market

  The Financial Conduct Authority (FCA) in the UK added SafeMarkets to its long list of companies that illegally target British customers and offer financial services without a license.   “Some firms act without our authorisation and some knowingly run investment scams”, stated the FCA in its warning. That being said, this may be the case with SafeMarkets, which offers trading in forex and various CFDs with a focus on cryptocurrencies. The brand is allegedly operated by Optiumcommerce OU, an Estonian company, which is not licensed by the Financial Conduct Authority, nor by the Estonian financial regulator. Read more

Abshire-Smith winds down UK operations due to the tough EU regulatory regime

Jan 02 2019 14:58:22, Jonathan Smith in Market

  A regulatory filing with the UK’s Companies House revealed that London-based forex and CFD brokerage Abshire-Smith is closing down its operations in the United Kingdom. The reason for the move is Brexit, as well as the restrictions on CFD trades imposed by European Securities and Markets Authority (ESMA) since last year, as reported by online media Finance Magnates.   Abshire-Smith is a London-based broker established back in 2011 and regulated by the Financial Conduct Authority  (FCA) in the UK since 2012. It also operates Nexsus Financial Markets brokerage brand. Read more

CySEC statistics: After some records have been achieved in 2016 and 2017, what’s next?

Dec 31 2018 14:47:19, Jonathan Smith in Market

  According to data published by the Cyprus Securities and Exchange Commission (CySEC), the number of licensed forex brokers in the country peaked in 2017, while the largest trading and net income was reached in 2016.     Looking at the statistics, the total number of Cypriot Investment Firms (CIFs) in 2017 amounted to 235, and their clients were about 1.5 million. Furthermore, Cypriot brokerage companies got about €1.68 billion of revenues last year, and their net income totaled to €222.7 million, which represents a YoY decrease by 32% and 77% respectively, when compared to 2016. Read more

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