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HotForex (PAMM Accounts)

HotForex (PAMM Accounts)
Broker type STP,ECN
Foundation Year 2009
Regulation FSC & CySEC
Minimum Deposit $500 (PAMM Account)
Spread EUR/USD: 0.8, GBP/USD:1.8, USD/JPY:1
Minimum lot size 0.01 lots
Maximum Leverage 1:300
Platforms HotForex MT4, Smartphone Mobile Trading, HotForex iPhone Trader, HotForex iPad Trader, HotForex Droid, HotForex WebTrader, HotForex FIX/API
Account currency USD, EUR
OS Compatibility Microsoft Windows, Mac, iPhone, iPad, Android, Web
Scalping Yes
Hedging Yes
Swap free accounts Yes
Funding/Withdrawal methods Wire Transfer, Credit Cards, Webmoney, Liberty Reserve, Moneybbokers, Perfect Money, Cash-U, Neteller, U-Kash
Supported Language English, Arabic, Russian, Spanish, Chinese, Farsi, Indonesian, Thai, Japanese, Georgian, German, French, Italian, and more.
Availability Call Back, Phone, Chat, Email
Accepts US Clients No
Headquartered in Mauritius
International offices -
Website Visit HotForex
Submit reviewView reviews (1)

Average Rating

View ratings
Total average

95/100

Ease of Access ( 95 )
Platform Performance ( 95 )
Reliability ( 98 )
Customer Support ( 94 )
Payouts Percentage ( 93 )

Review

HotForex is registered and located in Mauritius and regulated by Financial Services Commission and established in 2008. This broker is friendly, open and transparent to their clients. HotForex has voted as the Best Online Broker for Asia for 2012 and 2013, awarded by World Finance.

Trading Platform:

HotForex has a wide range of trading platforms. Currently they are offering 9 trading platforms for their customers. These are,

  • HotForex Meta trader 4
  • Meta trader 4 for Mac
  • HotForex Web Trader
  • Smartphone Mobile Trading
  • HotForex iPhone Trader
  • HotForex iPad Trader
  • HotForex Droid
  • Blackberry Trader
  • HotForex RapidTrader FIX/API

Among these trading platforms, Meta trader 4 platform is the most popular platform. Meta trader 4 platform is popular for advanced charting packages, Expert Advisors, custom indicators, automated trading opportunity etc. All the necessary trading and charting options are included in the Meta trader 4 platform.

Blackberry trader is the new trading platform for Blackberry users

Customer Support

When it comes to customer support, the HotForex team is both transparent and available. International phone numbers are available in 10 different languages, and email queries can be sent to 6 different virtual destinations, to ensure that they’re reaching the right desk. We emailed the HotForex team on a Monday and received a response in 1 hour and 40 minutes, which was quite a fair response time.

Chat support is also available 24/5. During our HotForex review we had the opportunity to chat with the support team multiple times and we repeatedly received courteous, helpful service.

Types of Trading Accounts:

HotForex is committed to reaching the customer satisfaction whether the customer is a small one or a big one. They offer different types of trading accounts. These are mentioned below,
• Micro Trading Account – Suitable for trading small volumes with small initial deposit.
• Premium Trading Account – Suitable for more experienced traders with no maximum lot size.
• VIP Trading Account – Suitable for traders who are experienced to trade minimum trading volume of half a standard lot.
 Islamic Trading Account – Suitable for Muslim traders who follow Sharia Principles.
• Currenex Trading Account – Suitable for experienced scalpers.
• Zulu Account – Suitable for new comers who need to get trading signals and execute those signals instantly without monitoring the market.
• PAMM Accounts – Suitable for investors those who are willing to invest under Forex Fund Managers.

Commissions and Spreads:

Commissions and spreads offered by HotForex broker depend on the type of trading account and trading volume. VIP and Currenex account holders can trade with very low spread starts from 0.2 pips. Other account holders also get a comparative spread offer starting from 1 pip.

Final Thoughts

HotForex caters both to new traders and advanced traders, though throughout our HotForex review we couldn’t help feel that experienced traders might find more to love about this brokerage, because of their interesting currency pairs and availability of the MT4 platform only. If you’re looking for an ECN broker with fast execution, competitive trading conditions and exotic currency pairs, HotForex may be just the broker for you.

 

Visit HotForex

Dr.Trader

Review comments (1)

Sarah.J
HotForex (PAMM Accounts) 95.0

I manage a PAMM account at HotForex, so far they are good in general. The only downside on their PAMM platform is communication between investor and manager. Bummer. But everything else are just fine.

Plusses
  • Nice PAMM facilities
Minors
  • Poor communication options between investor and manager
Posted on September 4, 2014 10:58 am

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