HYCM Review A Smart Forex And CFD Broker

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Looking For The Best Customer Service In FX Trading? Read Our HotForex Review Today!

  • Website: www.hotforex.com
  • Phone: +357-24-400561
  • Office address:
  • Spirou Kyprianou 50 Irida 3 Tower 10th Floor,
  • Larnaca 6057
  • Cyprus

HotForex is quite new to the Forex trading market concerning the popularity and brand awareness, even though the company has been in operation since 2008. The broker has recently re-invented its customer-oriented attitude by offering an excellent customer service platform, which has enabled the company to receive a ton of awards from several recognized institutions from Europe, Asia, Africa, and the Middle East. The primary requisite for any broker to achieve recognition in the Forex trading industry is to listen to their customers, which is exactly the strategy that HotForex followed to achieve immense success among global retail traders.
HotForex is also extremely popular among Introducing Brokers and affiliates, and it is indeed seen as a positive approach by the company to promote its brand among lesser known markets. The company’s prime attention towards ensuring an excellent customer-service oriented brokerage service is one of the key reasons why existing HotForex clients continue to do business with the broker.
HotForex regulation is also one of the hot topics of discussion among traders, as HotForex is one of the few brokers that have multiple regulatory statuses throughout the world. HotForex is regulated by the St. Vincent & the Grenadines regulatory authority, the CySEC in Cyprus, and the FSC of the Republic of Mauritius under the HF Markets moniker. It is interesting to note that the broker has based its corporate offices in some of the highly popular tax havens in the world, which can be a bit of an issue with traders from countries such as the US and Australia. US-based brokers are required to be regulated by the CFTC and be a member of the NFA to be able to offer their services to US citizens. Nevertheless, almost all the modern regulatory organizations these days are committed to the welfare of traders in general, which is a good thing, considering that the number of scams is increasing on a day-by-day basis.

What Are HotForex Trading Account Specifications?

HotForex has covered a significant part of the financial markets by offering Forex, Metals, Energies, Indices, Shares, CFDs, ETFs, and Binary Options through its different trading accounts. HotForex certainly understands their clients’ tastes and preferences, which is why they have incorporated a multitude of trading instruments to offer a diverse product portfolio. However, when it comes to choosing an account, HotForex provides nine different types of accounts, which is a lot for the average trader. The minimum deposit required to open an account is $5, while the maximum HotForex leverage is 1:1000. In our opinion, the leverage is too high for a Forex trader, but larger accounts have comparatively rational leverage to the tune of 1:400 or lesser margin. The different types of trading accounts are as follows:

EU clients:

  • Micro Account: $50 deposit, 1:500 leverage, spreads from 1 pip
  • Premium Account: $500 deposit, 1:400 leverage, spreads from 1 pip
  • Zero Account: $100 deposit, 1:200 leverage, spread from 0 pip
  • Fixed Account: $500 deposit, 1:400 leverage, fixed spread
  • VIP Account: $20,000 deposit, 1:300 leverage, spreads from 0.2 pips
  • Auto Account: $500 deposit, 1:400 leverage, spread from 1 pip

Non-European clients:

  • Micro Account: $5 deposit, 1:1000 leverage, spreads from 1 pip
  • Premium Account: $500 deposit, 1:400 leverage, spreads from 1 pip
  • Zero Account: $100 deposit, 1:200 leverage, spread from 0 pip
  • Fixed Account: $500 deposit, 1:400 leverage, fixed spread
  • VIP Account: $20,000 deposit, 1:300 leverage, spreads from 0.2 pips
  • Auto Account: $500 deposit, 1:400 leverage, spread from 1 pip
  • PAMM Account: $250 deposit, 1:300 leverage, spread from 1 pip

European clients cannot receive Bonuses and apply for the PAMM account.

The Zero Account, Currenex Account, and the VIP Account options are ECN platforms that provide tight spreads along with a commission per trade. The Auto and HF Social accounts are social trading accounts that allow investors to copy trades from other successful traders. HotForex has excellent trading conditions, and the only problem is that traders can be confused by the sheer number of options available, which can negatively affect the broker’s conversion ratio. On a positive note, HotForex offers an account for every type of trader, which is one of the reasons why HotForex continues to be a popular FX broker among modern traders. The HotForex spreads are also highly competitive, and the spreads starting from 1 pip for the standard accounts are acceptable.

All accounts have access to the full range of trading instruments, and can be traded using the MT4 as the standard HotForex trading platform. Meta Trader is the most commonly used and highly popular trading terminal for Forex traders, which has prompted HotForex to utilize several versions of the MT4 terminal across its different account offerings. The MT4 mobile apps for iOS, Android, and Windows devices serve as the HotForex mobile trading platform, while the MT4 WebTrader can be used for both desktop and mobile trading. The MT4 MultiTerminal can be used to manage multiple accounts, and is a useful tool for PAMM account holders or for traders who trade on multiple investor accounts.

How Can I Receive A HotForex Bonus?

The broker offers an attractive HotForex bonus of 100% on the deposited amount either as a cash bonus or a credit bonus, which essentially doubles the equity in a trading account. HotForex is one of the very few mainstream Forex brokers that offer a bonus, and along with exceptional trading conditions, traders will find the bonus to be quite useful in trading. You can receive a bonus by just verifying your trading account, making a deposit, and by choosing your deposit bonus.
Deposits are taken care of through credit cards, bank transfers, online payment processors and e-wallets such as Skrill and Neteller. Traders can make instant deposits and withdrawals. However, withdrawals do take some when compared to the time required for deposits. Accepting a bonus also puts several trading conditions into play, which should be satisfied before making a withdrawal request.
HotForex has multiple channels for customer support, including live chat, web contact form, active phone numbers, emails, and multi-lingual support. The broker has made it exceptionally clear that dedicate their service towards maintaining an excellent relationship with their traders by keeping their client’s welfare in their mind, and this is the very core principle of the company that is guaranteed to ensure the safety of the traders and keep them secure against broker issues in the highly risk financial markets.

IG.com Review Visit site

Was at IGMarkets.com. Other websites of this company include IGForex.com, IGI ndex.co.uk.

About IG.com

IG is a forex broker. IG offers the WebTrader and MT4 trading currency platforms. IG.com offer over 100 forex currency pairs, cfds, commodities, stocks, index, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

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  • Information
  • Live Discussion
  • Profile
  • Video
  • 13 Widgets
  • More .

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $250
Established: 1974
Address: Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA, United Kingdom
Contact: [email protected], (44) 207 896 0079
Regional offices:
Regulators: ASIC #AFSL 220440, FSCA #FSP 41393, DFSA #F001780, FCA #195355 / 114059, NFA #0509630
Prohibited countries:

Yes

Yes

Yes

Trading platforms: MT4, IG Web and Mobile Platform, ProRealTime
Web Trading:
Mobile Trading:
ECN:
Currencies: (105+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (16000+) Gold, Silver, Stocks, Stock Indexes, Bonds, Bond Indexes, Oil, Other Commodities

Yes

Yes

Yes

Yes

Yes

EAs/Robots:
News Spike Trading:
Scalping:
MAM:
PAMM:
Deposit Methods: Bank Wire, VISA, MasterCard, PayPal
Withdrawal Methods: Bank Wire, VISA, MasterCard, PayPal

Live discussion

Join live discussion of IG.com on our forum

IG.com profile provided by IG Group, May 13, 2020

The world’s No.1 spread betting and CFD provider*

Our vision
We aim to be a global leader in retail trading and investments. With a strong focus on innovation and technology, we put client needs at the heart of everything we do. This enables us to empower informed, decisive, adventurous people to access opportunities in over 15,000 financial markets.

24-hour support
Our highly trained team is available 24 hours a day from 8am on Sunday until 10pm on Friday, and from 9am to 5pm on Saturday UK time.

Powerful technology
Our intuitive platforms and apps are built for speed and security. We offer a fully customisable award-winning web platform, natively designed mobile and tablet apps, as well as a range of advanced third-party tools.

A global leader in online trading
We are the world-leading provider of contracts for difference (CFDs) and financial spread betting, and the UK’s largest retail forex provider.* We also offer execution-only share dealing, along with fully managed investment portfolios. With over 40 years’ experience behind us, we’re perfectly placed to help you make the most of the markets. *Based on revenue excluding FX (from published financial statements, October 2020). Losses can exceed deposits.

HYCM, MT4 Trading Server Name to be changed for both Live and Demo accounts from April 9th

MT4 program and servers name change on 9th April.

We are pleased to announce that HYCM will change the program name and server name on the MetaTrader 4 servers, starting 9th April, 2020 .

The names of the “Henyep-Live”, “Henyep-Demo” and “Henyep-DemoEU” trading servers will be changed to “HYCM-Live”, “HYCM-Demo” and “HYCM-DemoEU”, respectively.

Old Server Names New Server Names
Henyep-Live HYCM-Live
Henyep-Demo HYCM-Demo
Henyep-DemoEU HYCM-DemoEU

All the changes will take effect by the beginning of the trading session on 9th April, 2020, no additional actions are required in the client terminal.

Current trading terminals will display both new and previous server names with the possibility to connect to both.

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HYCM, an online Forex and CFD broker providing trading services since 1977.

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Who is Hercules.Finance?

Hercules.Finance is a financial education website powered by a team of Financial Specialists and IT experts, mainly introduce solutions of Forex, CFD and Commodity Investment, and a number of Payment Services. With more than 30 partnered companies all over the world, Hercules.Finance offers trusted and timely information for Investors and Users of the services. By referring to Hercules.Finance, you can find all latest News/Information, Financial Technical/Fundamental Analysis, Main/Exclusive Bonus Promotions of partnered companies and a number of Educational Materials of Finance. For the list of all partnered companies, please visit here. For more latest information of the website, please visit hercules.finance.

Risk Warning

Foreign Exchange and Contracts for Difference (“CFDs”) are complex financial products that are traded on margin. Trading Forex & CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, Forex & CFDs may not be suitable for all investors because you may lose all your invested capital. 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. Past performance of Forex & CFDs is not a reliable indicator of future results. 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. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect Choice For Beginners and Middle-Level Traders!
    Free Demo Account! Free Education!

  • Binomo
    Binomo

    Honest broker!

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