Menu

SHOULD WE OPEN HOTFOREX ACCOUNT TYPES?

Leave a comment

One of the most conspicuous trends in the 21st century is the idea of making money online. In general, there are many different online trading markets that people can benefit from. However, today I am going to focus mainly on forex market, especially for traders in Asian areas. Recently, HotForex has become one of the most common forex brokers in Asia. Many people still ask whether they should open a HotForex account. 

In this article, we will elaborate on some facets of HotForex accounts and explain why we should trade with this broker if you are in Asian regions. 

Is it good to have a HotForex account?

When an increasing number of traders have choosen to trade with HotForex broker, they’re making good profits. Therefore, it is reckoned that HotForex is one of the most trusted forex brokers around the globe. Basically, a broker should have at least one reliable regulation as it ensures the safety for their traders. This is the most important factor in forex trading. HotForex, recently, has 4 trusted regulations, which are FCA, DFSA, FSCA, and FSA. Most traders, at the first stage of their trading career, usually face difficulties in choosing forex broker. 

HotForex broker enables traders of different regions to trade safely since they have different regulations. In addition, the broker is also known for its precious metals. The spread of this broker is low since they charge little for gold. The spreads of currency pair are ranging between 1 to 1.2 pips. What is more, traders do not need to worry about slippages because HotForex scarcely allows it to occur. 

In fact, when you receive a notification informing the price has altered significantly compared to the price you bought, we call it slippage. 

More importantly, HotForex broker also offers Asian traders good customer care since they have offices in those regions; and traders will be able to contact the broker 24/5 when they have problems. Speaking language support, they support their customers more than 20 languages, namely Vietnamese, Thai, Chinese.

How does HotForex offer traders trading accounts?

In reality, HotForex broker offers their clients three main types of accounts, which are micro account, premium account, and zero spread account. Now, we will look at each type of account and know more about their features. 

Micrio account

This account type is available to traders on all trading platforms, which allows traders to trade different things such as shares, energies, and forex currencies. You only need to deposit $5 as the initial deposit when you first enter forex market. One more beneficial aspect is that the leverage is quite high, which is 1:1000. Especially, the account does not charge you any commission. 

Premium account

The leverage of this account is quite low, which is 1:500. Therefore, this account is specifically designed for those who want to experience the market. If you want to start trading with the account, you must make a deposit of $100. Like micro account, the account is available on many different platforms and allows traders to open 60 lots. 

Zero Spread account

Basically, this account type is seen as ECN account as its spreads are nearly zero and commission fee is around $6 if you trade with main currencies. The leverage of the account is 1:500. If you want to open this account, you need to deposit 1:500 as the initial deposit. You cannot enjoy any bonus programs when trading with this account.

In conclusion, trading forex is not as simple as you think. If you really want to make real profits in forex, it requires you to look at a good forex broker in your country. As aforementioned features, HotForex broker has many different great features and different account types, which make traders can opt for the one that they are suitable. If you want to make money now, you should start with a HotForex account with simple steps. If you want to know more about forex brokers, check out the best review websites for forex trading.