HotForex Commission or Brokerage Charges – Review, Plans, FAQs & moreLast Updated Date: Apr 28, 2022
Check out all details on HotForex Commission or Brokerage Charges here. The concept isn’t unique today. Be it a college student or a working person; everybody is playing the same card.
People of this new age have found trading a way to double their net income in no time.
If you also have in mind to try your luck in trading for which you believe that HotForex is an ideal online broker, let this article become a helpful guide for you.
Before you kick-start this journey with the broker, below, we discuss the HotForex commission in detail.
If you are new at trading, knowing about brokerage, fees, or commission, that your selected broker charges become vital to point out before proceeding.
Thus, if you want to trade via HotForex but are unclear about the broker’s commission for its trading services, let’s help out.
HotForex Commission or Brokerage Charges
HotForex is an award-winning and globally renowned trading platform.
The platform has been providing trading services since 2010. Both retail and institutional clients can use HotForex and reap the benefit of trading facilities that the broker offers.
If we talk about the HotForex Commission, it meets the trading conditions.
The broker charges commissions on trades and keeps the list of charges very transparent to its users. In short, HotForex Charges start from 0.03 per 1K lot in ZERO Spread Account.
However, charges can go higher because it is subjected to the market and asset category you want to trade-in.
The account type you choose at HotForex is also a deciding factor for the rate at which you will be charged per trade.
Therefore, it’s worth getting deep into the discussion to grab more insight into Hot Forex Fees so you could better reach your trading goals.
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Types of HotForex Commission Plans
|Types of Commission Plans|
|Account Type||Micro||Premium||Zero Spread||Auto||PMM||Hfcopy|
|Spread||From 1 pips||From 1 pips||Starts at 0 pips||From 1 pips||Start at 1 pips||From 1 pips|
At first, glance, knowing exactly about the Hot Forex Commission can be daunting because multiple accounts keep you in a confusing scenario.
Luckily, we can make things easier for you so that reaching the ultimate decision becomes a matter of a few seconds.
In the mainstream, Hot Forex has a total of 6 trading accounts each containing different offerings to different users. Let’s discuss this in brief.
The first one is Micro Account – highly recommended for beginners with a low budget. With a minimum deposit amount of $5, users can access 1:1000 leverage and commission-free trade advantage.
The second one is the Premium account, where the initial deposit amount goes higher up to $100.
Along with this, you receive 1:500 leverage and commission-free trading advantage again.
The third one is a Zero Spread Account inclusive of all the benefits you receive in the premium account except the initial deposit amount that is $200 and zero spread.
The last three are Auto, PMM, and HFcopy; each possesses its own unique specifications.
You’ll think about the remaining options only if you have an ample amount for investment. Since HotForex Charges in the last three accounts are a bit higher.
Apart from HotForex Brokerage, spreads in each account type start from 1 pip which is worth noticing because spreads are also known as a major source of income for brokers.
HotForex Account Opening Process
Account opening is one of the trickiest tasks for new-age clients.
But, it’s worth noticing that today, opening a trading account is as easy as installing an app from the play store, launching it on your smartphone or desktop by entering some basic sign-ups details.
It is no longer that decade-old job when you physically had to visit a broker to start trading with.
Thus, in addition to the HotForex Commission, it becomes equally essential to educate yourself on how to open a trading account at Hot Forex. So let’s have a look-
- First, you need to ascertain which device you will be choosing for trading. Hot Forex offers a trading facility for both mobile and desktop users. Using the Hot Forex mobile app, you can start trading through your smartphone. Similarly, the Hot Forex web-based trading platform can be accessed on both desktop and mobile devices.
- Similarly, using basic sign-up details, you can then create an account at HotForex and submit personal details to qualify for the EKYC process.
- Once your account is verified, add funds to your portfolio free of HotForex Charges.
- But make sure you are fully sorted over your account selection since HotForex offers you six trading accounts in total.
Ultimately, you can explore your first trading account with HotForex and start trading your favorite asset. Still, make sure you have no information left behind related to HotForex Fees.
HotForex Payment or Withdrawal Methods
|Deposit Options||Credit Card, Cryptocurrencies, FasaPay, iDeal, Maestro, Moneybookers, Neteller, Przelewy, QIWI, Skrill, Sofort, Union Pay, Webmoney, Western Union, Wire Transfer|
|Withdrawal Options||Credit Card, Cryptocurrencies, FasaPay, iDeal, Maestro, Moneybookers, Neteller, Przelewy, QIWI, Skrill, Sofort, Union Pay, Webmoney, Western Union, Wire Transfer|
After knowing exactly about the HotForex Commission structure, let’s catch a glimpse of payment methods that brokers offer for seamless transactions.
In a nutshell, the broker offers you the following payment methods. You can select the best one that you find more comfortable in transactions.
For payments, you can choose – Credit Card, Cryptocurrencies, Fasa Pay, iDeal, Maestro, Money bookers, Neteller, Przelewy, QIWI, Skrill, Sofort, Union Pay, Web money, Western Union, Wire Transfer.
For withdrawals, you can choose – Credit Card, Cryptocurrencies, Fasa Pay, iDeal, Maestro, Money bookers, Neteller, Przelewy, QIWI, Skrill, Sofort, Union Pay, Web money, Western Union, Wire Transfer.
No wonder the broker has an extensive list of payment options to select the ideal one based on your interest and charges concerns.
Since the payment method you choose can be inclusive of charges, it’s worth noting the subject before proceeding with transactions.
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HotForex Investment Assets
|Supported Cryptocoins||bitcoin, ethereum, litecoin, ripple|
|Total Tradable Assets||200+|
|Number Of Currency Pairs||52|
|Number Of Cryptocurrencies||8|
|Number Of Stocks||56|
|Number Of Indices||11|
|Number Of Commodities||5|
|Number Of Futures||N/A|
|Number Of Options||0|
|Number Of Bonds||3|
|Number Of ETFs||34|
As discussed before, the type of tradable asset you choose at HotForex also decides charges that you are likely to incur while executing a trade.
Therefore, to know way better about HotForex Fees, it is highly recommended to first review the list of assets that the broker provides on its trading platform.
Luckily HotForex keeps it simple for its users since you find only 200+ assets which are fairly less. Nevertheless, the provided assets are rooted in popular markets.
In a nutshell, you can access some popular crypto-currencies, e.g., bitcoin, Ethereum, Litecoin, and ripple.
At the same time, the broker even provides the facility to trade stocks related to some famous companies. Apart from that, you can also trade currencies, indices, bonds, and ETFs at Hot Forex.
This certainly makes it a golden trading platform for traders willing to explore every market through a single window.
HotForex Commission – Conclusion
Ultimately, it isn’t that complex a task to disclose the pros and cons of the HotForex Commission.
The broker charges a commission on trades but gives a special treat to beginners through the commission-free trading facility.
Even though spreads start from 1 pip in every account – in case you don’t like – you have an option to switch to the Zero spread account too.
HotForex Brokerage charges are pretty reasonable; still, the account variations are likely to confuse you. But it’s worth noting that each trading account caters to traders’ specific needs on different levels.
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HotForex Charges or Fees – FAQs
Here is the list of FaQs related to the HotForex Commission:
Does the HotForex Charge Commission?
Yes, Hot Forex does charge commission. But it would be satisfying to a beginner’s ears because HotForex also offers a commission-free trading facility.
Traders can choose Mini Account and Premium account to enjoy commission-free trading at Hot Forex. Apart from that, the broker charges commission on higher accounts which is worth noting.
How Much Does HotForex Charge Brokerage?
Brokerage charges at the HotForex trading platform depend upon your account type and the assets you choose for trading at HotForex.
The broker has six trading accounts, each with its own specialties.
Thus, before knowing about commission, determine the account you find suitable for your trading interest and launch your first trade.
What Is The Minimum Deposit Required In HotForex?
The minimum deposit amount to start trading at HotForex starts from $5 and goes up to $500.
However, it largely depends upon which account you choose.
The broker offers a total of six trading accounts so that users can pick the ideal account that meets their trading interests and level.
If you are a new trader, the broker offers you a commission-free trading facility.
How Much Leverage Does HotForex Provide?
Hot Forex offers you leverage facility differently in each account. HotForex offers six trading accounts in total, and each account comes with a different leverage ratio that can be anything from 1:300 to 1:1000.
Thus, it is solely up to your account preference.
Yet, it’s worth considering your own amount for trading rather than taking help from leverage because it makes your trading relatively riskier.
How Much Is Spread At HotForex?
Hot Forex spreads start from 1 pip.
However, a zero spread facility is also available that you can access by log- into the Zero Spread account that the broker offers as a part of its trading solution.
Zero Spread trading account also provides you access to commission-free trading and leverage support in a 1:500 ratio.
What Type Of Commission Are Plans Available In HotForex?
Hot Forex commission plans vary from one trading account to another trading account that the broker provides. Though, the first three accounts don’t charge any commission on trades.
Users can comfortably trade their favorite assets while taking advantage of leverage there. At the same time, if you pick another account, charges are likely to go higher.
Does HotForex Provide Cryptocurrency For Investment?
Yes, HotForex is a forex broker in the mainstream, but you can also trade cryptocurrencies and other popular assets at this fantastic trading platform.
But it’s vital to note down the charges associated with crypto-currency trading.
Because brokerage may vary from one account to another that HotForex provides separately to its users.
Is HotForex A Legit Forex Broker?
HotForex is a legit online forex broker.
This one of the best-performing online trading platforms gets its licensing from top-tier regulators. In short, CySEC, DFSA, FCA, FSA(SC), and FSCA regulate
HotForex making it a legit and 100% reliable broker to start trading at. The broker has won many awards throughout its journey of becoming the best forex broker of this age.
Can I Invest In HotForex With $5?
Yes, you can start trading at HotForex for $5 only.
But it’s worth noting that only a Mini Account by Hot Forex provides you with this facility.
If you want to trade at HotForex via other trading accounts, you will have to expand your budget.
Are there Any Hidden Charges Available With HotForex?
Except for spreads, there’s no other tension-deriving factor that injects more charges in your trading. Hot Forex doesn’t impose any hidden charges on a trade you execute.
The broker keeps everything transparent to its users, making it evident that there’s no need to worry about hidden fees at HotForex.
Fill up the Form – Open Forex Trading Account Now!
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