Hotforex broker license

The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. It goes without saying that forex trading is a very attractive market for not only banks and hedge funds, but even for the small individual trader, due to the low barriers for entry.

One literally only needs a computer with an internet connection, and some money deposited with a forex broker. A lot of time and effort is needed to practice trading on demo and eventually on real accounts. No doubt it takes dedication, discipline and patience, along with developing an edge to beat the market. That edge is gained by studying at least one of two fields, known as technical analysis and fundamental analysis.

The former involves looking at currency charts, seeking out certain patterns using tools and software known as price action and indicators to help determine which way a particular forex pair may meander. By extension, the latter involves focusing on the latest news reports and geopolitical situation of the countries involved.

Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. Read this Term in Africa. Now, HotForex has joined a very few other brokers that are regulated in Kenya and can offer their services legally. In addition, the CMA turned vigilant over the years and has issued a warning against investment through locally unregulated brokerage platforms. Each broker was graded on different variables, including our proprietary Trust Score algorithm.

This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than.

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For the list of all partnered companies, please visit here. For more latest information of the website, please visit hercules. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience.

All information on Hercules is only published for general information purposes. We do not present any guarantees for the accuracy and reliability of this information. Please note the spreads displayed in the website are all included extra trading commissions, as it shows the whole commissions charged by each broker. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. Copyright All content on this website including articles, data, website design and environments collectively the "Content" , is the property of Hercules.

Finance or its partnered companies'. For those looking to minimise fees and spreads, the Zero account has raw spreads with 0 mark-up. This means that you will be dealing with very tight spreads and low commissions.

If you are a high roller, the VIP account could be for you as a result of the minimal fees associated with its use and very competitive spreads. The Auto account allows you to copy automatically the advice given by the signals and indicators which are provided from expert analysis systems that have been created at HotForex. Leverage is going to change depending on the type of account and the type of instrument you are looking to trade.

While often times HotForex has interesting bonuses and promotions running, at the moment they do not having anything of note on offer. The Rescue Program could be used as a stop loss as there is was no limitation in using it for trading. Users were able to receive the Rescue Bonus after a loss cut. Unfortunately this is not a current promotion, but it may be worth looking out for such bonuses in the future. There are more than 50 different currency pairs available and they currently have 53 different shares available as part of their offering.

With such wide ranging regulatory bodies approving of HotForex, you can sleep well at night knowing your funds will be kept safe. Regulated by numerous respected bodies Platforms Like a lot of forex brokers, HotForex utilises MetaTrader as their trading platform. There are many different features and tools available to you as part of this platform which helps to enhance the ability of the trader.

There are many different version of MetaTrader 4 available with HotForex, including their desktop, multi-terminal, web browser, iPhone, iPad, Android and general smartphone versions of the trading software. There is also a proprietary HotForex RapidTrader API available to users which allow traders to get direct market access, as well as being able to conduct automated trading without needing to use the MetaTrader 4 platform.

Variety of MetaTrader platforms to choose from Proprietary trading platform option Mobile Trading As a result of being a MetaTrader only platform, you will able to utilise the platforms on iOS and Android devices, through the MetaTrader 4 MT4 app which can be downloaded straight away from either the App Store or the Android Play store. There is also a version for general smartphones that do not fall under the Android or iPhone categories.

There are 30 trading charting indicators available on the mobile apps and you have the full range of trading instruments to choose from with these apps. Quality mobile offering Pricing With HotForex, the amount of fees and commission that you have to pay will be dependent on what sort of account you have with them.

There are seven different account types in total. For the most part, there are variable tight spreads offered at HotForex in addition to their specialised account for scalpers that are fixed spread and the automated trading account which has the same spread prices as Interbank. For their Zero account in which there are no spreads, commission is charged at a tiered rate. MasterCard and Visa cards are of course catered for in addition to the likes of Skrill, American Express, Neteller, mybitwallet, WebMoney and bank transfers.

HotForex do not charge any fees for these payment options. Depositing via bank transfer will take between 2 and 7 working days whereas the other options will have their deposits processed almost instantly. In terms of withdrawals, they will start to be processed within 24 hours after the request has been submitted.

It will take the bank transfer and credit cards between 2 and 10 working days for withdrawals to be fully processed.