HotForex – Fees and Spreads

HotForex – Fees and Spreads

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HotForex - Fees & Spreads

 

Overall Rating

4.8/5

Rated #6 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FSC, CFTC

📱 Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

📈 Total Pairs

47

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Our HotForex Fees and Spreads Revealed:

 

Fees and Spreads

The spread list that HotForex offers starts from 0.0 pips on EUR/USD.

 

The spread list that traders can expect from HotForex is transparent and will depend on the financial instrument being traded, the account that traders use, and the market conditions on the day of trading. Some typical spreads that traders can expect when they trade with HotForex include:

 

  • Micro Account – Spreads from 1 pip
  • Premium Account – Spreads from 1 pip
  • Zero Spread Account – Spreads from 0.0 pips on Forex
  • Auto Account – Spreads from 1 pip
  • HF Copy Account – Spreads from 1 pip

 

Most of the accounts that HotForex offers are commission-free because mark up is added to the spreads to account for the broker fees in facilitating the trade. However, on the Zero Spread Account where traders are charged spreads from 0.0 pips, there are commissions of between $3 to $4 charged.

 

Additional Trading Fees

Overnight fees, also known as swap fees or rollovers, are either credited or debited depending on the financial instrument being held and whether the trader is holding a long or short position.

 

The swaps which are charged/credited are adjusted daily according to the market conditions and pre-existing rates which are provided by HotForex’s Price Provider, applicable to all open positions.

 

Some typical swap fees that traders can expect when they trade with HotForex include the following:

  • EUR/USD with a short swap of -0.2 points and a long swap of -2.8 points
  • GBP/USD with a short swap of -2.6 points and a long swap of -1.8 points
  • XAG/USD with a short swap of -2.2 points and a long swap of -5.0 points
  • XAU/USD with a short swap of -1.08 points and a long swap of -2.27 points
  • UK100 with a short swap of -5.04 points and a long swap of 2.15 points
  • Amazon shares with a short swap of -1.99 points and a long swap of -21.04 points

 

HotForex offers Muslim traders following the Sharia law the option of converting their live trading account into that of an Islamic account, exempting them from earning/paying interest which is prohibited.

 

HotForex is not a spread betting broker which means that spread betting fee will not apply.

 

Broker Fees

HotForex does not charge any deposit fees or withdrawal fees when they fund their account or transfer funds from their trading account. There are no additional broker fees charged by HotForex, but conditions can vary and change.

 

Pros and Cons

PROS CONS
Ultra-low minimum deposit required US clients are not accepted
Deposit fees and withdrawal fees are not charged
Spreads are competitive and tights
Commission-free options are offered
Islamic account option provided

 

You might also like: HotForex Account Types

You might also like: HotForex Demo Account

You might also like: HotForex Islamic Account

You might also like: HotForex Minimum Deposit

You might also like: HotForex Sign up Bonus

 

Overall Rating

4.8/5

Rated #6 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FSC, CFTC

📱 Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

📈 Total Pairs

47

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ

How many instruments can I trade with HotForex?

You can trade any of the following instruments:

  • Forex
  • Metals
  • Commodities
  • ETFs
  • Stocks DMA
  • Energies
  • Indices
  • Shares
  • Bonds

 

Which platforms are supported by HotForex?

HotForex only supports the use of MetaTrader 5 on the following:

  • MetaTrader 4
  • MetaTrader 5

 

Does HotForex offer leverage?

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

 

What spreads can I expect with HotForex?

You can expect spreads from 0.0 pips on the Zero Spread Account.

 

Does HotForex charge commission?

Yes, HotForex charges commissions between $3 on Forex Majors and $4 on other instruments.

 

Are there additional charges on the Islamic account?

No, there are no additional charges indicated on the Islamic Account.

 

Is HotForex regulated and by whom?

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

 

Is HotForex a recommended forex trading broker for experts and beginners?

Yes, HotForex is an ideal broker for both beginners and experts.

 

What is the overall rating out of 10 for HotForex?

9/10.