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HotForex Review

HotForex is considered average-risk, with an overall Trust Score of 9 out of 10. HotForex is regulated by HFM Investments Limited. HotForex is authorized by one tier-1 regulator (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust). HF Markets is currently not regulated by the CMA of Kenya

Updated : August 30, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

HotForex Overview

HotForex Review Overview 👉 HotForex is a low-risk CFD and forex broker for Kenyan traders with a trust score of 83% and an overall rating of 9/10 in terms of trading conditions, retail investor accounts, client fund security, and customer support. 👉 HotForex is well-regulated by several reputable entities and recently, HFM Investments Limited, a subsidiary of the brokerage company, has been given a license by the Capital Markets Authority (CMA) in Kenya. 👉 HotForex is a proud MetaTrader broker, offering both MetaTrader 4 and MetaTrader 5 trading platforms. HotForex’s retail investor accounts are suitable for both novice and expert traders, as well as professional traders looking to get a competitive advantage in their trading. 👉 Each retail trading account has its own set of features and trading conditions that cater to traders with varying trading styles, trading abilities, and investment goals. Over the last decade, HotForex has earned over 55 forex industry awards and registered over 2.5 million active accounts. 👉 This HotForex review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.

Distribution of Traders

HotForex Review Distribution Of Traders 👉 The distribution of traders with HotForex is as follows: ➡️️​ South Africa – 94.8% ➡️️​ Kenya – 2.54% ➡️️​ United States – 0.77% ➡️️​ Morocco – 0.74% ➡️️​ Netherlands – 0.27%

Popularity among traders who choose HotForex

🥇 While HotForex does not dominate the market in Kenya, the broker is still part of the Top 20 forex and CFD brokers for Kenyan traders.

HotForex At a Glance

🏛 HeadquarteredCyprus
🏙 Kenyan Based OfficeNo
✅ Accepts Kenyan Traders?Yes
🗓 Year Founded2010
📞 Kenyan Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
🪪 Regulatory Licenses• South Africa – FSP 46632
• Cyprus – 183/12
• Dubai – F004885
• Seychelles – SD015
• United Kingdom – 801701
• Mauritius – 094286/GBL
• Kenya – CMA license 155
Registrations• France ACPR – 53684
• Germany BaFin – 132342
• Hungary MNB – K8761153
• Italy CONSOB– 3673
• Norway – FT00080085
• Spain CNMV – 3427
• Sweden FI – 31987
• Austria FMA
• Bulgaria FSC
• Croatia HANFA
• Czech Republic CNB
• Denmark • Finanstilsynet
• Estonia FSA
• Finland FSA
• Greece HCMC
• Iceland FME
• Central Bank of • Ireland
• Latvia FKTK
• Liechtenstein FMA
• Lithuania Lietuvos • Bankas
• Luxembourg CSSF
• Malta MFSA
• Poland KNF
• Portugal CMVM
• Romania ASF
• Slovakia NBS
• Slovenia ATVP
⚖️ CMA RegulationYes, through HFM Investments Limited (155)
🚫 Regional RestrictionsThe United States, Canada, Sudan, North Korea, and Syria
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts5
📊 PAMM AccountsNo
🤝 Liquidity ProvidersBarclays UK, BNP Paribas, and others
💸 Affiliate ProgramYes
📲 Order ExecutionMarket
📊 Average spreadFrom 0.0 pips
📞 Margin CallBetween 40% to 50%
🛑 Stop-OutBetween 10% and 20%
Crypto trading offered?0.01 lots
💰 Offers a Kenyan shilling Account?60 lots
👨‍💻 Dedicated Kenyan Account Manager?No
📊 Maximum Leverage1:1000
🚫 Leverage Restrictions for Kenya?None
💰 Minimum Deposit (KES)570 KES or an equivalent to $5
✅ Kenyan shilling Deposits Allowed?Yes
📊 Active Kenyan Trader Stats70,000+
👥 Active Kenyan-based HotForex customersUnknown
💳 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Bank Wire Transfer
• Credit Card
• Debit Card
• Electronic Payment Providers
🏦 Segregated Accounts with Kenyan Banks?No
📊 Trading Platforms• MetaTrader 4
• MetaTrader 5
✔️ Tradable Assets• Forex
• Precious Metals
• Energies
• Indices
• Shares
• Commodities
• Cryptocurrencies
• Bonds
• Stocks DMA
• ETFs
💸 Offers USD/KES currency pair?No
📈 USD/KES Average SpreadN/A
📉 Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on WebsiteEnglish, Portuguese, Spanish
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/5
👥 Kenyan-based customer support?No
✅ Bonuses and Promotions for KenyansYes
📚 Education for Kenyan beginnersYes
📱 Proprietary trading softwareNo
💰 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✅ Is HotForex a safe broker for Kenyans?Yes
📊 Rating for HotForex Kenya9/10
🤝 Trust score for HotForex Kenya83%
👉 Open an account👉 Open Account

Regulation and Safety of Funds

HotForex Review Regulation And Safety

👉 The following firms make up the HF Markets Group, which operates under the HotForex trading brand:

➡️ HF Markets SA (PTY) Limited is registered in South Africa (2015/341406/07) and regulated by the Financial Sector Conduct Authority (FSCA) under FSP 46632.

➡️ HF Markets (Europe) Limited is based in Cyprus and registered under HE 277582 with regulations through the Cyprus Securities and Exchange Commission (CySEC) under 183/12. In addition, HF Markets Fintech Services Limited is registered in Cyprus under HE 348222.

➡️ HF Markets (DIFC) Ltd is registered in Dubai and is regulated by the Dubai Financial Services Authority (DFSA) under F004885.

➡️ HF Markets (SV) Limited is registered in Saint Vincent and the Grenadines under 22747 IBC 2015.

➡️ HF Markets (Seychelles) Limited is registered in Seychelles under 8149176-1 with regulation and authorisation through the Financial Service Authority (FSA) under SD015.

➡️ HF Markets (UK) Ltd is both regulated and authorized by the reputable Financial Conduct Authority (FCA) under 801701.

➡️ HF Markets Limited is registered in Mauritius with a Category 1 Global Business no C110008214, and Company registration number 094286/GBL, with regulation and authorization through the Financial Services Commission (FSC) in Mauritius.

➡️ HFM Investments Limited is regulated by the Capital Markets Authority (CMA) under license number 155. With this regulation, HotForex can offer non-dealing online forex exchange services to Kenyan investors.

👉 Segregated accounts with top-tier financial institutions are maintained by HotForex and HF Markets. In addition, the broker is covered up to €5,00,000 in Civil Liability insurance. This program protects traders against the risk of financial loss because of mistakes, carelessness, omissions, and other forms of fraud.

👉 HotForex provides a risk management mechanism known as negative balance protection, which is available to all retail trading accounts. When margin calls and stop-outs fail, the customer’s account does not have to be repaid to the broker because of HotForex’s negative balance protection. This protection applies regardless of market volatility.

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Account Types and Features

HotForex Review Account Types

👉 With HotForex, traders may choose from a variety of trading accounts that are tailored to their specific needs and preferences. HotForex offers the following types of accounts to retail investors:

➡️ Micro Account

➡️ Premium Account

➡️ HFcopy Account

➡️ Zero Spread Account

➡️ Auto Account

👉 Also available is a demo account and an Islamic Account option for Muslim traders on certain account types at HotForex in addition to these actual trading accounts.

Live Trading Accounts

Micro Account

HotForex Review Micro Account

👉 The Micro Account is a good choice for traders who are just starting out and only wish to trade modest amounts of money. Smaller position sizes are possible with the Micro Account, making it ideal for new traders.

Account FeatureValue
💸 Minimum Deposit (₦)570 KES or equivalent to $5 or 70 ZAR
📊 Spreads1 pip EUR/USD
💻 Trading PlatformMetaTrader 4, MetaTrader 5
🔧 Trading InstrumentsAll
📲 ExecutionMarket Execution
💰 Maximum Leverage Ratio1:1000
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size7 Standard Lots (100,000 base currency)
💸 Maximum Open Orders150 (Simultaneous)
📞 Margin Call (%)40
🛑 Stop-Out (%)10
💵 Account Base CurrencyUSD, ZAR, NGN
👥 Personal Account ManagerYes
💵 Commission ChargesNone
✔️ Bonuses OfferedFlexible bonus offering

Premium Account

HotForex Review Premium Account

👉 Experienced retail traders would benefit from this account type. With a 60 standard lot limit for a single transaction, this account’s position size flexibility is one of its key features.

Account FeatureValue
💸 Minimum Deposit (₦)11,400 KES or equivalent to $100 or 1,400 ZAR
📊 SpreadsFrom 1 pip EUR/USD

💻 Trading PlatformMetaTrader 4, MetaTrader 5
🔧 Trading InstrumentsAll
📲 ExecutionMarket Execution
💰 Maximum Leverage Ratio1:500

📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size7 Standard Lots (100,000 base currency)
💸 Maximum Open Orders60 Standard lots per position
📞 Margin Call (%)50
🛑 Stop-Out (%)20
💵 Account Base CurrencyUSD, ZAR, NGN
👥 Personal Account ManagerYes
💵 Commission ChargesNone
✔️ Bonuses OfferedFlexible bonus offering

HFcopy Account

HotForex Review HFCop Account

👉 SPs and Strategy Followers alike may benefit from this sort of account. SPs can set up an inventory of followers on this account type, which would then enable them to trade and earn a Performance Fee of up to 50%. Users may deposit monies and have their transactions immediately copied from this account.

Account FeatureValue
💸 Minimum Deposit (₦)11,400 KES for a follower, 34,000 KES for a provider (KES or equivalent to $100 and $300, respectively)
📊 SpreadsFrom 1 pip EUR/USD

💻 Trading PlatformMetaTrader 4
🔧 Trading InstrumentsForex, Spot Indices, Gold, Spot Energies, BTC/USD, BTC/EUR
📲 ExecutionMarket Execution
💰 Maximum Leverage Ratio1:400

📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size60 Standard lots per position
💸 Maximum Open Orders300
📞 Margin Call (%)50
🛑 Stop-Out (%)20
💵 Account Base CurrencyUSD
👥 Personal Account ManagerYes
💵 Commission ChargesNone
✔️ Bonuses Offered200

Zero Spread Account

HotForex Review Zero Account

👉 Active traders, high-frequency traders, day traders like scalpers, and those who employ Expert Advisors will all benefit from this account’s cheap trading costs and low commissions. No hidden markups are applied to the spreads in this account, which is an additional benefit for Kenyan traders.

Account FeatureValue
💸 Minimum Deposit (₦)23,000 KES or equivalent to $200 or 2,800 ZAR
📊 Spreads0.0 pips on Forex Major currency pairs
💻 Trading PlatformMetaTrader 4, MetaTrader 5
🔧 Trading InstrumentsAll
📲 ExecutionMarket Execution
💰 Maximum Leverage Ratio1:500
📉 Minimum Trade Size0.01
📈 Maximum Trade Size60 Standard lots per position
💸 Maximum Open Orders500
📞 Margin Call (%)50
🛑 Stop-Out (%)20
💵 Account Base CurrencyUSD, ZAR, NGN
👥 Personal Account ManagerYes
💵 Commission ChargesFrom between $3 for Major Forex Pairs and $4 on other instruments per lot traded
✔️ Bonuses OfferedNone

Auto Account

HotForex Review Auto Account

👉 With this account type, investors may use algorithmic trading and automated trading. Any kind of trader may utilize this account to subscribe to trading signals, whether they are free or paid. The HotForex Kenya MetaTrader 4 platform’s MQL5 community provides these trading signals.

Account FeatureValue
💸 Minimum Deposit (₦)23,000 KES or equivalent to $200 or 2,800 ZAR
📊 SpreadsFrom 1 pip EUR/USD
💻 Trading PlatformMetaTrader 4
🔧 Trading InstrumentsForex, Spot Indices, Gold, Spot Energies, BTC/USD, BTC/EUR
📲 ExecutionMarket Execution
💰 Maximum Leverage Ratio1:500
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size60 Standard lots per position
💸 Maximum Open Orders300
📞 Margin Call (%)50
🛑 Stop-Out (%)20
💵 Account Base CurrencyUSD
👥 Personal Account ManagerYes
💵 Commission ChargesNone
✔️ Bonuses OfferedNone

Demo Account

HotForex Review Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

👉 There is a certain degree of risk involved when trading financial markets and HotForex offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

👉 Traders in Kenya may open a demo account on the Micro, Premium, Auto, and HFcopy accounts with HotForex.

Islamic Account

HotForex Review Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

👉 Because it complies with Sharia law and Islamic values, the HotForex Islamic Account does not charge interest to Muslim traders who have open positions overnight. Traders can convert any of HotForex’s active trading accounts to an Islamic Account, allowing them to trade halal without limitations.

Account Registration

HotForex Review Account Registration

👉 Kenyan traders can visit HotForex’s official website and pick the option for account registration from the homepage. Traders are required to provide their personal, financial, work, and trading information using an online application form.

👉 As part of the Know Your Customer (KYC) procedure, traders must validate their email address and present documentation proving their identity and residence address before their account may be activated.

👉 Traders will be able to deposit money and begin trading as soon as their application has been completed and authorized.

How to Register An Account

👉 Step 1 – Go to the Official HotForex Website

➡️ Go to the HotForex Website (www.hotforex.co.za) and click on “Open Live Account”.

HotForex Review How to Register An Account Step 1

👉 Step 2 – Fill Out Your Details

➡️ Fill out your personal details such as your name, surname, country of residence and email address. 

HotForex Review How to Register An Account Step 2

👉 Step 3 – Click on “Register”

➡️ Click on the green “Register” button to register your account. 

HotForex Review How to Register An Account Step 3

HotForex Vs Global GT Vs OspreyFX – Broker Comparison

HotForexGlobalGTOspreyFX
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regionsFSCA, FSANone
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• MetaTrader 5• MetaTrader 4
• MetaTrader 5
💰 Withdrawal FeeNoNoNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit550 KES550 KES2,800 KES
📈 Leverage1:1000
1:10001:500
📊 Spread0.0 pipsFrom 0.0 pipsFrom 0.4 pips
💰 Commissions$3 to $4$10From $1
✴️ Margin Call/Stop-Out• 40%/10%
• 50%/20%
80%/50%100%/70%
✴️ Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoYesNo
📈 Account Types• Micro Account
• Premium Account
• Kenya HFcopy Account
• Kenya Zero Spread Account
• Auto Account
• Cent Account
• Mini Account
• Standard Account
• Standard FX Account
• ECN Account
• Standard Account
• PRO Account
• VAR Account
• Mini Account
⚖️ CMA RegulationNoNoNo
💳 KES DepositsYesYesNo
📊 Kenyan shilling AccountNoNoNo
👥 Customer Service Hours24/524/724/7
📊 Retail Investor Accounts554
☪️ Islamic AccountYesNoYes
💸 Minimum Trade Size
0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size60 lots500 lots1,000 lots

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Trading Platforms

HotForex Review Trading Platforms

👉 HotForex offers its Kenyan traders a choice between the following trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

Desktop Platforms

HotForex Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

👉 HotForex’s MultiTerminal platform makes it possible to manage multiple accounts at the same time from a single screen. Kenyan traders can expect the same familiar trading experience that traders have come to expect from the MT4 platform, but with even more power and capability.

👉 No matter what trading style or asset class a HotForex customer prefers, the MetaTrader 5 platform has been customized to meet their specific demands, and this has resulted in the HotForex MT5.

👉 More features, sophisticated trading tools, improved support, and ultimate control over the trader’s transactions are all provided by this powerful yet user-friendly platform. Through MetaTrader 5, Kenyan traders invest time and money wisely with one of the most innovative and widely-used trading platforms in the world.

WebTrader Platforms

HotForex Review WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

👉 Trading can be carried out using the MetaTrader 4 WebTerminal from any web browser, without the need for extra software to be downloaded. With the ability to trade on both Live and Demo accounts, traders can place pending and market orders, as well as monitor their entire trading history.

👉 MetaTrader 5 WebTerminal trading does not need the installation of any other software. All the features of the desktop platform are available on the WebTerminal, which can be launched from any computer and any browser.

Trading App

HotForex Review Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

👉 To make it easy for traders to trade on the go, the HotForex Android and iOS MT4 combine advanced charting with trading tools and other advanced features. Traders can access financial markets, perform technical analysis, track movements, and place orders from anywhere in the globe using HotForex’s full-function trading interface.

👉 For the convenience of HotForex clients, HotForex offers a MT4 Android, iPad, and iPhone Trader that can be downloaded and used immediately.

👉 To provide traders complete access to the trading account and the ideal trading environment, HotForex’s software was particularly designed to utilize several sophisticated capabilities of many mobile device types.

👉 MetaTrader 5 for HotForex features iOS and Android-native alternatives for all sorts of devices, allowing traders to feel in control of their HotForex trading accounts and ready to delve into the markets no matter where they are. HotForex Android and iOS is the best choice if Kenyan traders are looking for a mobile trading platform that is both convenient and secure.

Range of Markets

HotForex Review Range of Markets

👉 HotForex offers a wide range of markets spread across these tradable instruments and classes:

➡️ Forex

➡️ Precious Metals

➡️ Energies

➡️ Indices

➡️ Shares

➡️ Commodities

➡️ Cryptocurrencies

➡️ Bonds

➡️ Stocks DMA

➡️ ETFs

Broker Comparison for Range of Markets

HotForexGlobal GTOspreyFX
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsYesNoNo

Trading and Non-Trading Fees

Spreads

HotForex Review Spreads

👉 When it comes to trading with HotForex, traders may expect to pay a variety of spreads depending on their account type, the market circumstances, and the financial instrument they choose to trade. The following are the average spreads for each account type:

➡️ Micro Account – from 1 pip

➡️ Premium Account – from 1 pip

➡️ HFcopy Account – from 1 pip

➡️ Zero Spread Account – from 0.0 pips

➡️ Auto Account – from 1 pip

Commissions

HotForex Review Commissions

👉 When compared to other forex and CFD brokers, HotForex’s commission fees are exceptionally cheap. Traders in Kenya should anticipate paying between $3 and $4 in charges for FX majors and other financial products.

Overnight Fees, Rollovers, or Swaps

HotForex Review Overnight Fees

👉 Kenyan traders can anticipate the following overnight fees:

➡️ Forex, commodities, and individual stock swaps are updated each day based on market circumstances and the rates that price providers get. A total of three swaps are applied to all positions on Wednesdays as well.

➡️ Precious Metals – Depending on market circumstances and the prices provided by price suppliers, precious metal swaps are changed daily. For XAG and XAU, the swap is indicated in 1 pip per lot, which traders should be aware of on Wednesdays.

➡️ Energies – Market circumstances and rates acquired by price suppliers are taken into consideration daily when adjusting energy swaps. Traders should be aware that USOil and UKOil swaps are given in US Dollar values on Wednesdays when there are triple swaps in effect.

➡️ For indices, DMA stocks, ETFs, and Cryptocurrencies – Swaps are changed daily according to market circumstances and the rates that are acquired by price providers. This applies to all positions, and every Friday there is a triple swap.

Deposits and Withdrawals

👉 HotForex offers the following deposit and withdrawal methods:

➡️ Bank Wire Transfer

➡️ Credit Card

➡️ Debit Card

➡️ Skrill

How to Deposit Funds with HotForex

👉 To deposit funds with HotForex, Kenyan traders can log into the myHF area, select the option to deposit and select their deposit method. Traders must provide the amount they wish to deposit, the deposit currency, and continue by completing any additional fields as required by their payment provider.

How to Withdraw Funds with HotForex

👉 To withdraw funds from a HotForex account, traders must log into their myHF area, click on “Fund Withdrawal,” choose a payment method, enter the withdrawal amount, and proceed with any additional steps as required by the payment provider.

👉 Traders should expect their withdrawal requests to be processed the same business day, between 7 am and 5 pm server time, if they submit them before 10 am server time. The next business day, between 7 am and 5 pm server time, shall be used to process withdrawals filed after 10 am server time.

HotForex Education and Research

HotForex Review Education And Research

👉 HotForex offers the following Educational Materials:

➡️ Hot Forex Educational Videos

➡️ Training Course Videos

➡️ Forex Education

➡️ eCourses

➡️ Live Webinars

➡️ Events

➡️ Podcasts

👉 HotForex offers Kenyan traders the following Research and Trading Tools:

➡️ HF App

➡️ VPS Hosting Services

➡️ Premium Trader Tools

➡️ AutoChartist Tools

➡️ Trading Calculators

➡️ myHF Client Area

➡️ Advanced Insights

➡️ Economic Calendar

➡️ Traders’ Board

➡️ Auto Trading through MQL5

➡️ Forex News presented by FXstreet

➡️ One-Click Trading

➡️ Events

➡️ HotForex Exclusive Analysis

Bonuses and Promotions

HotForex Review Bonuses And Promotions

👉 HotForex offers Kenyan traders the following bonuses and promotions:

➡️ Free Funding

➡️ Contests including Traders Awards, HotForex Gadget Giveaway, Demo Contest, Trading Contests, Currency Wars Contest

➡️ Loyalty Program

➡️ 50% Welcome Bonus for Micro Accounts

➡️ 100% Supercharged Bonus applied to a range of accounts

➡️ 30% Rescue Bonus

➡️ 100% Credit Bonus

HotForex Affiliate Program

HotForex Review Affiliate Program

👉 Customers and affiliates alike can rely on the integrity and transparency of award-winning broker HotForex.

👉 The HF Affiliates affiliate program is open to anyone from all around the world, regardless of where they live. HotForex offers generous reward programs and a multi-tier affiliate monitoring system to keep affiliates around for the long term.

👉 As an added benefit, affiliates who join the HF Affiliate program will have immediate access to our dedicated Affiliates Department for any questions or issues that may arise. Affiliates of HotForex may benefit from the following features and benefits:

➡️ Revenue-share up to 60% or $15 per lot, determined by the net spreads and trading volumes of referred clients.

➡️ Commissions that can be earned through the refer-an-affiliate

➡️ Auto-rebate system

➡️ Multi-tiered structure

➡️ MetaTrader 4 and 5 reporting

➡️ Affiliates get full statistics, comprehensive client activity tracking, and more

➡️ The absence of set-up fees

➡️ Access to a dedicated affiliate account manager

➡️ Fast and frequent payments

➡️ Unlimited commissions

➡️ A wide variety of marketing tools

HotForex Social Responsibility

HotForex Review Social Responsibility

👉 When it comes to helping individuals in need, the HF Markets Group has a deep-seated belief that it must do so. The HF Markets Group of Companies’ management and employees have a long history of giving back to the communities in which they operate.

👉 Some initiatives of HotForex include:

➡️ The World Health Organization’s campaign against the Covid-19 epidemic previously received large donations from HotForex, which is known for its corporate social responsibility. HotForex and its team worked tirelessly across the globe to protect and improve the health of people, leading and coordinating efforts to reduce the effects of the pandemic in vulnerable communities.

➡️ An international non-profit called The Rainforest Alliance received a charity gift from HF Markets Group in support of indigenous efforts to control the fires that have ravaged the Amazon rainforest, which is commonly referred to as the “lungs of the Earth.”

➡️ HF Markets donated a major gift to the Larnaca Lions Club, the local chapter of the Lions Club International, as a way of showing its support for the community. Donations to the well-known club, which aims to empower volunteers to serve their communities, meet humanitarian needs, encourage peace, and promote international understanding, were given by HotForex.

➡️ The HF Markets team has brightened the spirits of a few young people and assisted them in making the most of the holiday season in 2017. Charity and healthcare institutions in the company’s hometown of Larnaca received gifts and toys in abundance.

Verdict on HotForex

👉 Traders looking for low-cost trading platforms with minimal minimum account balance restrictions are often confronted with restricted functionality and investor data. With its reasonable price and highly professional trading platform, HotForex is an exception to this norm.

 

👉 Both new and experienced forex traders will profit from the platform’s vast variety of accounts and asset classes, as well as the in-depth information and analytical services tailored to every sort of investor. HotForex enables traders of varying skill levels to invest in a variety of CFD and spot assets using the proven MT4 and MT5 platforms.

HotForex Pros and Cons

✔️ Pros❌ Cons
HotForex is a multi-regulated and award-winning broker with an impressive track record and trust scoreThere is no KES-denominated trading account offered
There are low and competitive spreads offeredThere is a limited selection of deposit and withdrawal options
Kenyan traders have a choice between several account typesThere is a limited selection of base account currencies and deposit currencies
There is an ultra-low minimum deposit on accounts
There are several educational materials offered to beginner traders
Advanced traders have access to many advanced, helpful trading tools
There is a comprehensive affiliate program offered
HotForex offers Kenyan traders a choice between MetaTrader 4 and 5 across different devices

Frequently Asked Questions

 

Is HotForex regulated and by whom?

Yes, HotForex is regulated by FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA.

Does HotForex offer leverage and what is the maximum ratio offered?

Yes, HotForex offers maximum leverage up to 1:1000.

Does HotForex offer a Demo Account?

Yes, HotForex offers a demo account.

What is the overall rating for HotForex out of 10?

9/10.

Is HotForex suitable for beginner and professional traders?

Yes, HotForex is an ideal broker that can be used by beginner and professional traders.

 

8.7/10 - (3 votes)