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HotForex Account Types Review

There are many FX brokers in the world from which you have to choose one for yourself that suits you and your trading style. But how will you do that?

There are many factors through which FX traders and investors can determine their future brokering partner. One of the most vital factors is the scenario of accounts: which type of accounts a broker is offering and how many types of accounts a broker is offering.

So, that is why we are here with the HotForex account types review, in which we will tell you everything that which accounts are best for which kind of traders:

An Overview of HotForex

HotForex broker is a European-based FX broker tat belongs to Cyprus and launched in it. It is the brand name of HF Markets LTD. HotForex is completely regulated by almost every legit and reliable security authority of the world of FX trading, including CySEC, FCA, DFSA, and FSCA.

HotForex Account Types

When we talk of account types, HotForex has a Ph.D. in that field because it comes up with a wide range of accounts like:

  • Auto account
  • Micro account 
  • HFcopy account
  • Premium account
  • Zero Spread account
  • Demo and Islamic accounts are also available for almost every type of accounts.

So, let’s start our discussion with every specialty of every type of HotForex account type:

Auto Account

This account comes up with these features:

  • A minimum deposit is $200.
  • Spreads from 1 pip.
  • MetaTrader 4 allows access to all instruments.
  • Access to telephone trading and a personal account manager.
  • Market execution and a minimum trade size of 0.01 lots.
  • Leverage up to 1:500.
  • A maximum permitted amount of simultaneous open orders of 300.
  • Maximum total trade size of 60 standard lots per position. 
  • Commission-free trading.

Micro Account

This beginner account has some super features:

  • Leverage up to 1:1000.
  • A minimum deposit of US Dollar 5.
  • Spreads from 1 pip.
  • Both MetaTrader 4 and Metatrader 5.
  • Market execution and a minimum trade size of 0.01 lots.
  • Maximum total trade size of 7 standard lots 
  • Commission-free trading 
  • Access to telephone trading 
  • The maximum permitted amount of simultaneous open orders of 150.
  • Personal account manager.
  • Eligibility to the Flexible Bonus Offering.

HFcopy Account

This account is designed for SPs with these features:

  • A minimum deposit is $300.
  • One hundred maximum followers allowed.
  • Leverage up to 1:400.
  • Access to Forex, Bitcoin, and Gold with MetaTrader 4.
  • Market execution and a minimum trade size of 0.01 lots.
  • Spreads from 1 pip.
  • The maximum permitted amount of simultaneous open orders of 300.
  • Commission-free trading 
  • Maximum total trade size of 60 standard lots per position 
  • Access to telephone trading 
  • Personal account manager.

Premium Account

This account is made for experienced traders with:

  • A minimum deposit is $100.
  • Leverage up to 1:500.
  • Spreads from 1 pip.
  • MetaTrader 4 and Metatrader 5.
  • Market execution and a minimum trade size of 0.01 lots.
  • Maximum total trade size of 60 standard lots per position 
  • The maximum permitted amount of simultaneous open orders of 300.
  • Commission-free trading 
  • Access to telephone trading 
  • Personal account manager.
  • Eligibility to the Flexible Bonus Offering.

Zero Spread Account

Zero spread account is special because, in this, you can enjoy spread starting from 0 pip. While other features are almost the same.

Conclusion

Every HotForex account has its different speciality, so you have to determine which suits whether to you.

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