|Minimum deposit:||$5 USD|
|Withdrawal fee amount:|
|Inactivity fee charged (Y/N):||N|
|Number of instruments:|
|Time to open account:|
|Demo account provided (Y/N):||Y|
|Countries of regulation:|
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Hot Forex is an online broker founded in 2010 that offers a selection of 150-plus tradeable instruments to its clients. The firm has 1.5 million clients worldwide and offers more than 100 stock CFDs. However, client access to specific stock CFDs depends on location.
The broker offers the popular MetaTrader 4 and 5 platforms in different customised versions.
The firm, which is headquartered in Cyprus, is regulated by the Cyprus Securities and Exchange Commission (CySEC). It is also licensed in four other jurisdictions: St. Vincent and the Grenadines, Seychelles, Mauritius, and South Africa.
Hot Forex offers traders six account types: micro, premium, zero, auto, PAMM (premium) and a copy trading account. The broker offers spreads starting from 1 pip on all account types except for the zero account, which has spreads that start at zero. The zero account offers spreads starting at 0.3 on the popular EUR/USD currency pair, but traders have to pay a 0.6 commission on each trade, which translates to a total cost of 0.9. The premium account offers a 1.2 spread on the EUR/USD pair but does not charge a commission.
Hot Forex offers the popular MT4 and MT5 trading platforms with customisations to suit its clients. The two platforms are offered in different iterations, including the MT4 desktop application, the MT4 WebTerminal, MT4 for Android, and MT4 for the iPhone and iPad.
The broker offers similar platforms for the MT5 trading platform, with the exception of the MT4 MultiTerminal, which has no peer in the MT5 product suite.
The firm also offers a FIX/API interface for advanced traders. However, traders have to part with a minimum deposit of $200,000 to qualify for the FIX/API service and must maintain this minimum balance at all times.
The firm offers customer service from offices located in different countries, with global support provided via a UK toll-free number. Hot Forex has other customer service lines serving Russia, China, Brazil, Taiwan, India, Indonesia, Nigeria and Turkey.
Social media: Facebook.com/HotForex; Instagram.com/HotForex; YouTube.com/HotForex; LinkedIn.com/HotForex; and Twitter.com/@HotForex_Broker
The company also offers support via email, with their website providing various email addresses that customers can use to get through to different departments, such as the execution desk and the sales department.
There are also specific email addresses for non-English speakers where clients can communicate in their national languages. The languages covered include Arabic, Chinese, Korean, Farsi and Spanish.
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