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Credible broker with good CS team

I was introduced this broker by a friend, it’s more professional than all local brokers I have tried, especially the CS was very helpful in resolving my inquiries. I had a problem with funding and CS team helped me to solve it in day. Highly recommend!

Kallang 2019-01-23

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
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA 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, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Latest Forex News

The FCA may push ISPs to take down misleading or unfair financial promotions

Jun 20 2019 15:09:20, Jonathan Smith in Market

The Financial Conduct Authority in the UK (FCA) is considering additional powers in respect of internet service providers (ISPs). In its first annual perimeter report, the FCA says it might push ISPs to take down misleading or unfair financial promotions, in order to improve consumer protection. The regulator also stated it might ban certain cryptoassets falling outside its regulatory perimeter.   It’s no secret that fraudsters offering investments in forex, contracts for difference (CFDs), and binary options often promote themselves online and via social media channels, such as Facebook. Read more

Spain’s CNMV blacklists unregulated brokers Financika and Hybrid Reserve

Jun 19 2019 13:00:47, Jonathan Smith in Market

  The latest editions to the warning list of Spain’s financial regulator, the CNMV, are unregulated brokers Financika and Hybrid Reserve. These entities are not authorized to provide investment services or investment advice in Spain, the CNMV said.    Actually, both brokers are registered offshore, and are therefore not allowed to operate on any regulated financial market, not only in Spain. Hybrid Reserve is owned and operated by Singlebell LTD, which is registered in the Marshal Islands. Its website (hybridreserve.com) also features the name of an Estonian company, SINGLEBELL OU, but it is not licensed by the Estonian Financial Supervision Authority (EFSA). Read more

Italian regulator orders unregulated brokers CryptoCapitalFX, OnlyTrades, and Nasdaq 500 to cease operations

Jun 17 2019 12:02:43, Jonathan Smith in Market

  Italian regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) warned that CryptoCapitalFX, OnlyTrades, and Nasdaq 500 are not licensed to provide financial services in the country, and ordered them to cease operating in Italy.    Forexbroker.com has spotted and warned against all three brokers flagged by CONSOB, highlighting a number of red flags regarding each one of them. The first broker the Italian regulator blacklisted this Monday, CryptoCapitalFX (it.cryptocapitalfx.com) also has another website - cryptocapitalfx.com, where it claims to be owned and operated by Eternity Capital Management Ltd. Read more

UK’s FCA warns of AGM Group and Sigma4Trade clone firms

Jun 13 2019 14:18:24, Jonathan Smith in Market

  The UK’s Financial Conduct Authority (FCA) has recently updated its warning list with AGM Group and Sigma4Trade – two forex brokers that falsely claim to operate under legit companies, licensed by the regulator. This is a popular scam tactic often referred to as “a clone firm”.    “… Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called,” the FCA reiterates in its notices. Furthermore, it states that such clone firms are suspected of knowingly participating in investment scams. Read more

Ireland to ban binary options and restrict CFD trades permanently

Jun 12 2019 15:40:33, Jonathan Smith in Market

  The Central Bank of Ireland (CBI), which also serves as a financial services regulator, announced its plans to make ESMA’s product intervention measures permanent. These measures are aimed at guaranteeing greater investor protection for retail investors, and include a ban on binary options and a set of restrictions for CFD trades, the most important of which is a cap on leverage of up to 1:30. Read more

Spanish regulator adds Olympus Markets and several other offshore brokers to its warning list

Jun 10 2019 13:21:05, Jonathan Smith in Market

  The Comision Nacional del Mercado de Valores (CNMV) has updated its warning list with the already Olympus Markets, as well as several other offshore brokers - TopTradepro, UBCFX and Profit Trade. According to the CNMV, these entities are not authorized to provide investment services in the country.   As a matter of fact, all above-mentioned brokerages are registered offshore and therefore not allowed to operate on any regulated financial market. Here are the details on each of the companies blacklisted by the CNMV.   The companies operating Profit Trade and TopTradePro are both registered in the Marshall Islands. Read more

The FCA flags GlobalArabFX and iForex24 as clone firms

Jun 06 2019 12:48:37, Jonathan Smith in Market

  UK's Financial Conduct Authority (FCA) has recently warned against two clones: GlobalArabFX and iForex24. These unregulated forex brokers are wrongfully using the details of regulated companies (with which they are not associated) in an attempt to mislead UK investors that they are legitimate financial services providers.    “… Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called,” the FCA usually states it its said in the notice. Read more

ASIC updates warning list with MRT Markets, RIMarkets, and Golden Day Profit

Jun 03 2019 13:03:04, Jonathan Smith in Market

  The Australian Securities and Investment Commission (ASIC) has added forex brokers MRT Markets, RIMarkets, and Golden Day Profit its list of unlicensed companies illegally targeting local investors. ASIC advised investors not to deal with these entities, as they could be involved in a scam.   “Many scams come from companies based overseas. These scammers target Australians because ASIC does not have international jurisdiction to investigate and prosecute them,” stated the Australian financial watchdog in the notice. Read more

UK’s FCA adds Key Markets and CFD Premium to its warning list

May 31 2019 07:50:24, Jonathan Smith in Market

  The Financial Conduct Authority (FCA) has recently updated its warning list with unregulated brokers Key Markets and CFD Premium on Thursday. 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”.   A brief review of Key Markets’ website (key-markets.com) reveals that the broker offers trading in wide range of financial instruments on the MetaTrader4 platform. However, the company behind the brand, Key Markets Ltd. Read more

CySEC proposes a tiered approach to leverage

May 30 2019 14:10:07, Jonathan Smith in Market

  The Cyprus Securities and Exchange Commission (CySEC) proposed a tiered risk-based approach to leverage as a permanent national measure for investor protection. As the latest product intervention measures by ESMA are due to lapse for the final time in July 2019, CySEC proposes to permanently introduce national rules. While the majority of the measures replicate those of the Pan-European regulator, this is not the case with leverage restrictions.   Unlike most national financial regulators who have simply copied ESMA’s temporary CFD intervention measures to turn them into permanent rules, CySEC came up with a different idea regarding leverage. Read more

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