Hot Forex Overview
Hot Forex is a regulated, award-winning online Forex broker which offers market-maker execution across all 5 of its different account types. Traders are provided with a choice in over 100 securities, Forex, CFDs and more.
Since 2010 to date, over 350,000 accounts have been opened with Hot Forex and during this time, Hot Fore has won 18 different industry awards.
When trading with Hot Forex, Zimbabwean traders can be assured that their funds are secure as client funds are kept in segregated accounts with major global banks.
Hot Forex also offers negative balance protection in addition to compensation to clients should there be any errors, omissions, negligence, fraud, or other risks which could result in great financial loss.
Why is Hot Forex the best option for Zimbabwean traders?
1. Highly and strictly regulated
Hot Forex is regulated and authorized by some of the most reputable regulating bodies which includes:
- CySEC – Cyprus Securities and Exchange Commission.
- FSC – Financial Services Commission of the Republic of Mauritius.
- FSP – Financial Conduct Services of the Republic of South Africa.
- FCA – Financial Conduct Authority of the United Kingdom.
- DSA – Dubai Financial Services Authority.
- FSA – Seychelles Financial Services Authority.
Being regulated and authorized by such a large amount of regulating bodies means that Hot Forex is subjected to strict regulations pertaining to its operations along with the way in which it handles clients fees and ensures the security thereof.
2. Variety of Accounts
Hot Forex offers traders a choice between six different accounts to ensure that a variety of Zimbabwean traders, given their skill, experience and knowledge pertaining to trading is catered for.
The variety of accounts provided also ensures that Hot Forex’s offering suits a variety of trading plans subjected to various factors such as budgetary limits, time dedicated to trading, and more.
- Micro Account – minimum deposit of 5 USD/EUR, spreads from 1 pip and leverage up to 1:1000 with no commissions charged on trades.
- Premium Account – minimum deposit of 100 USD/EUR, spreads from 1 pip, leverage up to 1:500 and no commission charges.
- Zero Spreads Account – minimum deposit of 200 USD/EUR, spreads from 0 pips, leverage up to 1:500 and commissions charged on Forex.
- Auto Account – minimum deposit of 200 USD/EUR, spreads from 1 pip, leverage up to 1:500 and zero commission charges.
- PAMM Account – minimum deposit of US$250, spreads from 1 pip, leverage up to 1:300 and zero commission charges.
- HFCopy Account – minimum deposit of $500, spreads from 1 pip and leverage up to 1:400 with zero commissions charged on trades.
3. Reasonable spreads and fees
Hot Forex requires extremely low minimum deposits especially when keeping their extensive accounts and features in mind. When compared to other brokers’ offering on premium and advanced accounts, Hot Forex has the absolute best offering.
The spreads provided by Hot Forex are extremely low despite the account that the Zimbabwean trader chooses and there is a zero commission fee on the majority of accounts provided.
In addition, there are no fees charged when depositing or withdrawing funds.
4. Variety of Financial Instruments
Hot Forex offers traders the opportunity not only to trade Forex, but also the following financial instruments:
- Cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple.
- Precious metals such as gold and other spot metals
- Indices such as the USA500, the UK100 and more.
- Shares from leading companies around the world
- Commodities from as little as US$10
5. Reliable and reputable trading platforms
Both MetaTrader 4 and 5 were developed by MetaQuotes Software Corp. with MetaTrader 4 being a Forex-only trading platform and MetaTrader 5 providing access to more financial markets.
MetaTrader 5 is the improved version of MetaTrader 4 which offers a significant amount more technical indicators, analytical tools, timeframes in which to view charts, and more.
Both MetaTrader 4 and 5 are reputable, reliable trading platforms that cater for both beginner traders and those who are more advanced, regardless of the traders’ needs.
Both MetaTrader 4 and 5 can be downloaded for use on Desktop, Android and iPhone devices or they can be utilized through the WebTerminal.
6. Educational tools
This is one of the crucial requirements when Zimbabwean traders evaluate different brokers as the provision of educational tools not only helps traders learn to trade, but it allows them to learn about trading by specifically utilizing the broker’s offer.
Hot Forex provides traders with Forex Education/e-Courses, tutorial videos, webinars and events that are announced ever so often as they occur.
Research tools and resources allow Zimbabwean traders to conduct technical and fundamental analysis more comprehensively, resulting in traders being able to make more accurate and profitable trading decisions.
Hot Forex provides traders with the following:
- Hot Forex App
- VPS Hosting Service
- Trader tools
- AutoChartist tools
- Trading calculators
- Exclusive analysis
- Economic calculator, and more
Promotions and bonuses are the best ways in which brokers not only attract new customers, but also a way in which loyal customers are rewarded. Some promotions are even aimed at increasing trading activities through trading bonuses.
Learn more about forex trading for dummies here.
Hot Forex offers traders with the following promotions:
- 100% super charged bonus on deposits of US$250 and more, 30% rescue bonus on deposits over US$50, 100% credit bonus for traders trading higher volumes.
- Trading Rewards Loyalty Program based on four different reward levels depending on the volume being traded and the active trading days of the trader.
- Trading contests in which traders stand a chance to win a variety of prizes.
- Free Account funding which is provided to all live accounts. Should the trader’s bank charge them for transactions on deposits or withdrawals, traders will be refunded for any fees waived.
- Hot Forex also has a wide range of merchandise that is provided to loyal traders and partners.
9. Ease with which deposits and withdrawals can be made
Hot Forex supports a variety of payment methods such as Bank Wire Transfer, Credit/Debit cards, online payment solutions which includes Bitcoin Cash, Bitcoin and Skrill.
Deposit and withdrawal fees are not charged and should the Zimbabwean trader’s bank charge them for transactions, the fees can be claimed back from Hot Forex.
10. Superior customer support
Hot Forex provides customer support which is helpful, prompt, and available 24 hours of the day, 7 days a week. Zimbabwean traders can contact Hot Forex support either via email or telephone, or by making use of the Live Chat function.
Hot Forex is the best and most used trading platform in Zimbabwe due to its comprehensive and outstanding offering which is all-encompassing and catered to suit the trading needs of a variety of traders, despite their skill, knowledge, experience, or budgetary limitations.