HotForex Trading Accounts - How many Type of Accounts?

By Author

2023/01/22 54 0

Hotforex Trading Accounts

If you want to open an account with HotForex, it provides you with an unparalleled variety of account options allowing you to select and enjoy a tailored trading experience with an offer of 6 different accounts with specific requirements.

From the very beginning, you may sign in for Demo Account and then transfer it to a Live one just by depositing money.

Pros	Cons
Fast Account Opening, fully Digital None 6 Account types Great options for a particular trading style Very Low Min deposit free of charge Micro Account and Islamic Account offered	None

Pros

Cons

Fast Account Opening, fully Digital None
6 Account types
Great options for a particular trading style
Very Low Min deposit free of charge
Micro Account and Islamic Account offered

None

6 different trading accounts called Micro, Premium, Zero Spread, Auto, PAMM (Premium) and HFcopy

3 core trading accounts called Premium, Zero Spread and Premium Pro, as shown below.

Different accounts are available under different regulated entities. As such, some accounts are only available under specific regulation and not under the other. They also offer free demo trading accounts and Islamic swap-free accounts.

Demo account

Any account which you open with a hotforex market allows for a demo account. The good thing with such a statement is that it is not limited to trial period; hence you can have up to 3 accounts. You will have access to real trading conditions under the MT4 trading platform.

Micro account

Designed for traders new to the Forex market and those trading smaller volumes, the HotForex Micro account allows investors to trade smaller trade sizes and open an account with a lower initial deposit than a Classic account all from the powerful MetaTrader 4, MetaTrader 5 platforms.

The Micro Account is available as Swap Free for clients following the Muslim Faith.

Zero Spread account

With a minimum opening deposit of just USD 200, the HotForex ZERO Spread Account is an accessible, low-cost trading solution that is suitable for all traders, but is particularly useful for scalpers, high-volume traders and those who trade with Expert Advisors (EAs).

As a HotForex ZERO Spread account holder, you will receive RAW, Super-Tight Spreads from leading liquidity providers with NO hidden markups! The account offers a highly transparent commission-based structure and commissions start at a low USD 0.03 per 1K lot.

Premium account

The Premium Account accommodates the experienced retail traders. A key feature is the flexibility in position sizing. The limit for a single trade size is 60 lots. There is a minimum trade size of 0.01 lot and the trade size increment remains flexible at 0.01. The
Premium Account uses the MetaTrader4, MetaTrader 5 platforms as well as the Webtrader and any of the available mobile trading platforms.

Auto Account

The HotForex Auto Account opens the worlds financial markets to even novice investors by giving them the opportunity to subscribe to free and paid Trading Signals from the MQL5 Community, which is built-in to the HotForex MT4 trading terminal. Investors can automatically copy the signals of any Signal Provider with paid Signals being subject to a one month performance verification period.

HotForex Auto Account clients can subscribe to Signals via the MetaTrader 4 Platform.

Important note :
The Auto Trade account provides access to the signals service, which is a product of Metaquotes Software Corporation. The terms and conditions which govern the provision of the signals service as well as the features of the product are determined exclusively by Metaquotes Software Corporation. Any instructions received during the provision of the signals service are subject to the Account Opening Agreement, Terms of Business and Policies of the Company. The Company accepts no liability for any loss whatsoever pursuant to the use of the signals service.

Pamm (Premium) account

As a HotForex PAMM Manager you have a choice of opening a Premium or Premium Plus Account. Review the table below to decide which account best suits your trading objectives.

	Premium	Premium Plus
Trading Platform MetaTrader 4	x	x
Spreads	From 1.1 pip	From 0.3 pips
Trading Instruments Forex - Metals - Oil - Indices	x	x
Fifth Decimal	x	x
Max leverage 1:300	x	x
Execution Market Execution	x	x
Minimum opening deposit USD $250	x	x
Minimum trade size 0.01 lot	x	x
Trade size increment 0.01	x	x
Maximum Simultaneous Open Orders	500	500
Margin Call / Stop out level	50% / 20%	50% / 20%
Telephone Trading	x	x
Account Currency USD	x	x
Commission	No	$5.00 per 100,000 USD traded ($10 round turn)

HF Copy Account

The HFcopy Account is available to both Strategy Providers (SPs) and Followers who have joined HFcopy. SPs can open an HFcopy Account aiming to build their inventory of Followers and trade in exchange of a Performance Fee, as high as 50%. Followers, on the other hand, by opening an account will be able to deposit funds and start copying the trades of their selected SPs.

Account Comparison

Account Type:	Micro	Premium	Zero Spread	Auto
Trading Platforms:	MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading	MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading	MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading	MetaTrader 4, Webtrader and Mobile Trading
Spreads Types:	Variable	Variable	Variable	Variable
Spreads Pips:	From 1 pip	From 1 pip	From 0 on Forex	From 1 pip
Trading Instruments:	All Available	All Available	All Available	All Available
Minimum Deposit:	$5	$100	$200	$200
Minimum trade size (Lots):	0.01 Lot	0.01 Lot	0.01 LOTS (1,000 units of base currency)	0.01 Lot
Fifth Decimal:
Maximum Leverage:	1:1000 *	1:500 *	1:500	1:500 *
Market Execution:
Trade size increment:	0.01	0.01	0.01	0.01
Maximum Total Trade Size (Lots):	7 Standard lots	60 Standard lots per position	60 Standard lots per position	60 Standard lots per position
Max Simultaneous Open Orders:	150	300	500	300
Margin Call:	40%	50%	50%	50%
Stop Out Level:	10%	20%	20%	20%
Personal Account Manager:
Telephone Trading:
Account Currency:	USD, EUR, NGN	USD, EUR, NGN	USD, EUR, NGN	USD, EUR, NGN
Commission for forex pairs:
Flexible Bonus Offerings:
Personalised Service:

How to Open a HotForex Account

A live trading account can be opened by clicking the ‘Open Live Account’ button on the broker’s website. This will then redirect you to a registration page, as shown below:

HotForex Trading Accounts - How many Type of Accounts?

Once this has been filled in, users are then able to start in just 3 steps after confirming your email address and then entering the myHF Area to open a trading account, as shown below:

Once logged in to the myHF Area, users can open new trading accounts, access free VPS services, view the different trading tools and deposit and withdrawal methods. To complete the account opening users will need to verify their identity and proof of address, of which details are sent in the confirmation email:

How to open a Demo Account?

To open a Demo account you should simply follow the process of risk-free account opening so you will get access to either MT4 or MT5 platforms with unlimited demo funds.

And once you ready or decided to start Live Trading you can submit for a Live account where HotForex may ask you for confirmation of your documents including identity, residency and other prove before you start. In both cases, you will get access to myHF client area where you can manage all your accounts and finances.

So here is the step by step process of Demo Account opening.

Opening a Demo account step by step

1. Go into HotForex Demo Account Sign In page

2. If you are a new client enter your personal data First and Last Name, Country of residence, email, phone, etc. Or in case you’re existing client follow sign in

3. Fill in all required information for the first register of myHF

4. An account will be approved almost immediately, where through your client area you can get access to New Demo Account, follow with Live Account and manage your funds

Tags how many accounts in hotforex how many hotforex accounts forex for beginners hotforex trading accounts open account at hotforex open hotforex accounts register hotforex accounts register account at hotforex hotforex accounts hotforex create account hotforex demo account hotforex account manager hotforex new account hotforex real account hotforex account types hotforex trading account forex for beginners hotforex trading accounts hotforex micro account hotforex zero account hotforex vip account hotforex auto account hotforex fixed account hotforex islamic account hfcopy review hotforex copy hfcopy forex hfcopy account hfcopy hotforex hfcopy review copy review hotforex copy trade copy trade hotforex hf copy trading