HotForex Review: Best Broker for South Africa

 NOTE: Learn Price Action readers can get up to 100% deposit bonus + reimbursing any deposit fees. More on this offer is below.  

When choosing the best Forex & Stock CFD broker and charts to trade the markets with, there are some major criteria that you always need in a broker.

A lot of brokers do not meet these standards and most traders don’t know what they should be looking for which sees them land with a broker they really wish they hadn’t.

We have looked through and tested a huge range of brokers all around the world that have a wide variety of offerings, account types, charting platforms and regulations to see what the best offerings are.

 

What to Look For in a Good Forex and Stock CFD Broker

The crucial elements a broker should have are;

• The best charts for price action and other strategies including EA’s/indicators
• Segregate and Keep Your Funds Safe
• Regulation
• Good pricing
• Good bonuses for traders
• Great support
• Good charts and mobile platforms are a must
• Deposit and withdraw fast and convenient with multiple options
• Kept up to date – including with security
• Many markets for trade opportunities

 

HotForex Review: Who are HotForex?

It is hard to find brokers that are fully transparent, hold client funds (your money) in secure segregated accounts that are audited, but that is what HotForex offers traders.

HotForex is a non-dealing desk Forex broker that provides trading solutions for active day traders and scalpers as well as traders that are new to the Forex market. They are also a broker that prides itself on being tightly regulated and looking after your money. They have also just recently won the award for ‘Best Client Funds Security globally’.

 

 

HotForex offers some of the smallest spreads, best fill times and fastest execution in the world which is why they are so popular with over 2,000,000 traders.

HotForex trading conditions are widely regarded as well above the industry standard. They place a very strong emphasis on competitive spreads and commission charges.

HotForex also offers the latest MT4 and MT5 charts with some of the best and most realistic bonus offerings in the industry.

  

HotForex Regulation

Simply put; many brokers hide off-sure in different regulations so they do not have to face the strict rules that come from regulators or they are not regulated at all.

This is a real worry for traders and anyone who has a problem with their broker. These brokers are held to far less stringent rules and do not have a watch dog making sure they do the right thing.

The major world regulators such as ASIC in Australia and the FCA in the UK have minimum capital requirements and standard rules a broker must meet to continue to hold their financial licence. They are also there for traders to file complaints against the broker if something happens.

In many cases unregulated brokers also do not have to segregate traders funds. This means that your funds are mixed with that of the broker and are not audited to make sure they are safe. These are real worries.

HotForex are regulated globally in the UK with the FCA, in South Africa with the FSCA, Dubai through the DFSA among others.

  

Are HotForex are a Good Choice for Traders in South Africa?

 

HotForex are globally regulated by some of the toughest tier one financial watchdogs in the world in the FCA (UK) and FSCA (South Africa) making sure they look after their customers and never step out of line. This is a massive bonus.

You Can Try HotForex With a FREE Demo Here

 

What Markets Can be Traded With HotForex?

A look at the trading markets available and you can quickly see that almost every market a trader could want to trade is available from;

• Forex – From the major like EURUSD to all the cross and exotics FX pairs.

 

• Cryptocurrencies – a wide range of cryptomarkets to make trades on including Bitcoin and Ripple.

 

• Indices – Stock indices ranging from the UK100 through to the ITA40

 

• Commodities – Such as Gold, Silver, Oil, Platinum Soybean and a lot more.

 

HotForex Account Types

HotForex offers Micro, Premium and Zero Spread accounts. These accounts are as follows;

Micro Account 

Minimum Starting Deposit of Just $5. Good For New Traders, But Restrictions on Trade Sizes.

 

Premium Account

Good Spreads, Flexible Trading Conditions, Starts With Only $100 Deposit and Can Trade From 0.01 lots.

 

Zero Spread Account

Smaller Spreads, But You Will Pay Commissions Each Trade.

 

HotForex Platforms: MT4 and MT5

The most popular charts by far in the trading world are MT4.

The simple reason for this is because they are incredibly reliable, can be used for very small to very large trading, can handle all sorts of trading from price action technical analysis, right through to complicated indicator and EA strategies.

MT4 charts can be used on PC, Mac, iPhone and mobile and can also be synced in so you are using the same charts in your phone that you are using on your computer.

They are incredibly lightweight and easy to use. And they are free!

HotForex offer traders free MT4 and MT5 trading platforms that can be downloaded and used on PC, Mac and also phone / iPad.

 

You Can Download Free Demo MT4 and MT5 Charts Here

 

HotForex PAMM Accounts

Pamm is also known as ‘Percentage allocation management module’.

HotForex PAMM trading works by allowing a fund manager to make trades on your behalf so you can profit from their trading. 

However; the crucial thing about a PAMM account is that the fund manager cannot touch your funds or make any withdrawals. They can only withdraw their own personal funds.

When you find a profitable PAMM account that has a solid track record you can invest in that fund and make the same profits by letting the fund manager trade for you.

It is in the best interest of the fund manager to be profitable because they will often be taking an agreed percentage of the profit when it is made.

You are able to then sit back and just monitor the account and withdraw your profits.

HotForex has a lot of PAMM accounts with a lot of different strategies that you can choose from.

A lot of traders will invest in multiple PAMM accounts to diversify their investments. This way it limits any losses if one PAMM fund does not do as well and increases gains if another PAMM you may not have invested in makes large profits.

 

HotForex Deposit and Withdrawal 

HotForex have a lot of flexible deposit and withdrawal options that include;

• Credit / Bank Card
• Bank Transfer
• Skrill
• Neteller
• Bitcoin wallet
• Union Pay
• FasaPay
• WebMoney

 

HotForex Payspark Debit Card

A really nice feature with HotForex is their HotForex Payspark Debit card.

This card can be used in over 170 different countries for making cash withdrawals and purchases.

You can also use this debit card to directly withdraw your HotForex funds from an ATM which makes withdrawing fast and easy.

 

HotForex bonus: How to Claim and Start Trading

Choose From Three Bonuses

NOTE: When signing up using the link below you will get the choice of three of the best bonuses you can use to start trading and boost your account.

 

To access these bonuses and start using HotForex use the link below to signup and follow these steps;

 

#1: Signup Here With Either a Real or Free Virtual Demo Account

Both demo and live accounts are free and do not have any ongoing costs.

 

#2: Deposit Money Into Your Trading Account

NOTE: HotForex has a fee free deposit policy for deposits over $100 meaning even if you use a bank transfer or credit card there is no cost.

 

#3: Start Demo / Real Trading

When you signup to HotForex you will gain access to the free demo platform charts as well as being able to open your live account.

You can now start practice trading with virtual money just like you would in the real markets.

When you are ready you can then begin using your real capital to trade yourself.

 

#4: Access Your Bonus

Inside your secure HotForex client area you will be given the choice of which bonus you would like to use when funding your account. Choose the best bonus for you and it will be processed automatically.

 

What Others Trading With HotForex Say

 

 

Conclusion

Your broker selection is key to becoming successful. You need a broker you can trust and do not have to worry about.

HotForex have now been around for ten years, have opened over 2,000,000 live accounts and have a huge offering for all trader types.

The fast execution, small spreads and trading costs and great charts are why they have so many active traders and are so popular.

Get Free HotForex Account Here