Is HotForex Broker a good choice for Forex Beginners?
Nov 6, 2017 at 7:52 am #1080chalithuoMember
I would certainly say ‘YES’. This is a broker I have personally traded with and I have found him to be quite trustworthy and also very much concerned about beginners who wish to start their Forex trading with them.
I know as a beginner, you are very much worried about the security of your hard earned capital and that is very normal with any serious financial investor. One of the most sure ways that you can be guaranteed that your money is safe is by ensuring your broker is regulated by a legitimate regulation body. HotForex broker is regulated by the SVGFSA, which is an organization that regulates international financial markets as well as non-bank financial institutions as per the contemporary legislation for economic and social development of Saint Vincent and the Grenadines where its headquarters are.
Hotforex have 7 account types; Micro, Premium, Zero, Fixed, VIP, Auto and PAMM. The micro account is the best for beginners. This is because it allows for a leverage of up to 1:1000 and a minimum deposit of as low as $5. It also has a limitation of up o 150 open orders which is a great feature in regulation how beginners trade.
The broker also allows for an unlimited number of demo accounts, meaning that a trader can open as many demo accounts as he/she wants. This gives the beginners an upper hand since they will get a place to practice their trading skills before trading their real money.
They also provide video tutorials among them being the ‘beginners course’, which has four topics that are very rich on all the information the beginner needs to understand the basics of the forex markets and trading. However, for you to access the video tutorials, you have to have registered for a live trading account.
HotForex also allows for a variety of deposit/withdrawal options among them wire transfer, credit or debit cards, WebMoney, Skrill, Neteller and Western Union.
If you are a beginner, I think this is a Forex broker whom you can invest with! Unless there is any other clarification needed.10Nov 17, 2017 at 6:10 am #1301kued11Member
Yes, of course. It is very much effective for all the beginners in the world. Its support, signal, impressive are really outstanding for the beginners. Moreover, if you join with it, chance of gaining will be increased soon. It is totally different from other brokers in the whole world.10Nov 28, 2017 at 3:54 pm #1495ColeenMember
I have heard a lot of good stuff about them, but never tried their service. I think it is hard to go with any broker randomly. I believe it is sensible to go with a demo account first with any broker. And only after we are satisfied then the further decision should be taken.
We should always remember that taking a decision late is better than taking an incorrect decision.00Dec 14, 2017 at 12:41 pm #1693ZukoParticipant
Can’t say since never worked with them. I do agree with Coleen, never heard anything all that bad about them, but yes I won’t call them anything about decent. I think you can try if you wish, but I am certain there are much better brokers out there working, so why not try them?00Feb 27, 2019 at 7:16 pm #2108FXGuruParticipant
A good broker is all about safety and comfort. I feel highly SAFE and COMFORTABLE with broker like FreshForex, who is highly reliable and trustworthy having served since last 13-14 years. More than that, I LOVE it because of the epic conditions that counts from zero spreads, fast execution, and there is Rebate Program, where one can get upto 20 USD per lot size trade, which makes me feel highly relaxed and comfortable.00
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