HotForex – Minimum Deposit

HotForex – Minimum Deposit

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HotForex - Minimum Deposits

 

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 Minimum Deposit Revealed:

 

Minimum Deposit

HotForex has a minimum deposit requirement of 5 USD or 70 ZAR.

 

HotForex offers traders a choice between United States Dollar or South African Rand on most trading accounts except the Crypto Account. Each trading account has its own minimum deposit amount that is required as follows:

 

  • Micro Account – 5 USD or 70 ZAR
  • Premium Account – 100 USD or 1,400 ZAR
  • Zero Spread Account – 200 USD or 2,800 ZAR
  • Auto Account – 200 USD or 2,800 ZAR
  • HFCopy Account – $300 for Strategy Providers and $100 for Followers

 

HotForex is multi-regulated and complies with all the provisions and requirements of its regulatory entities. One of these involves client funds that must be kept in segregated accounts with top tier banks, separate from the broker account.

 

The client funds that are deposited with HotForex may not be used towards any operational purposes. HotForex may not use client funds to fulfil its financial obligations and these funds must be available for withdrawal immediately and at any given time.

 

HotForex is a reputable and well-established broker that provides traders with a fair, secure, and transparent trading environment in which they are safeguarded and where they receive the best possible trading solutions.

 

Deposit fees and deposit methods

HotForex does not charge any deposit fees according to the official website. When traders pay the minimum deposit amount, they can use any of the following payment methods:

  • Bank Transfers
  • Credit Card
  • Debit Card
  • Skrill

 

When traders deposit the minimum deposit, they can use the following deposit currencies:

  • USD
  • ZAR

 

Step by step guide to depositing the minimum amount

When traders have completed the registration for their live trading account, they can make the minimum deposit by following these simple steps:

 

  • Log into the trading account, client portal, or the trading terminal using the relevant HotForex account credentials.
  • Once logged in, traders can navigate to their live trading account and select the option to “deposit” funds.
  • Traders can choose their preferred deposit method, deposit currency, and the amount to deposit and proceed with deposit verifications.

 

When traders select their deposit method, they must choose carefully as this payment method will be used when traders request a withdrawal. Depending on the payment method that traders have chosen, deposits can either reflect instantly, take up to a day, or up to a few days before the funds are reflected in the trading account.

 

Pros and Cons

PROS CONS
Flexible funding options are offered Limited funding options offered
Deposit fees are not charged Limited supported deposit currencies
Quick and easy deposits
Client funds are kept separate from the broker account in top tier accounts with regulated banks

 

You might also like: HotForex Account Types

You might also like: HotForex Demo Account

You might also like: HotForex Fees and Spreads

You might also like: HotForex Islamic Account

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

What is the minimum deposit required to open an account with HotForex?

$5.

 

How do you make a deposit and withdraw money with HotForex?

  • Bank Transfers
  • Credit Card
  • Debit Card
  • Skrill

 

Does HotForex charge withdrawal fees?

No, HotForex does not charge withdrawal fees.

 

How long does it take to make a withdrawal?

The processing time on withdrawals will depend on the withdrawal method that is used. It can be instantly, or it could take a few business days.