HotForex All Account Types | Which account is the best for you?

Introducing the account types of HotForex.

HotForex has services all over the world and is very famous and highly evaluated in the world.

There is also a deposit bonus and a point program that gives you cash back, that is also the reason.

HotForex offers a total of 6 account types.

Of these, AUTO is for signal traders only for copying, PAMM accounts are for transactions that entrust fund management to professional traders, and HFCOPY accounts are for copy trading, not for general traders, so explanations are omitted here.

In this article, after thoroughly comparing each three account types for general traders based on specifications and trading conditions, I will clarify the characteristics and precautions for each account type and carefully explain which account is suitable for which type of trader.

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HotForex Copy Trading | Powerful Trading Automation

HotForex offers a copy trading service called "HF Copy". Traders called "Strategy Providers" who hav

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HotForex All Account Types

First, let’s compare the all account types offered by HotForex.

The color of the part that seems to be a point has been changed.

Let’s take a quick look at what kind of specifications and conditions are different.

	MICRO	PREMIUM	ZERO SPREAD
Method	STP	STP	ECN
Platform	MT4, MT5	MT4, MT5	MT4, MT5
Base currency	USD,EUR,NGN	USD,EUR,NGN	USD,EUR,NGN
Contract size	1 lot = 100,000	1 lot = 100,000	1 lot = 100,000
Min trade volume	0.01 lot	0.01 lot	0.01 lot
Max leverage	1:1000	1:500	1:500
Margin call	40%	50%	50%
Stop out	10%	20%	20%
NBP	✓	✓	✓
Min spread	1.0pips~	1.0pips~	0.0pips~
Commission fee	X	X	Round $6/lot
Lot restriction per ticket	7 lots	60 lots	60 lots
Max orders	150 positions	300 positions	300 positions
Non-deposit bonus	－	－	－
Deposit bonus	✓ (MT5 X)	✓ (MT5 X)	X
Rebate	✓	✓	✓
Min deposit	$5	$100	$200
EA	✓	✓	✓
Scalping	✓	✓	✓
Stop level	3.0pips(EURUSD)	3.0pips(EURUSD)	2.0pips(EURUSD)

Characteristics of each account type

I will briefly explain the characteristics of each account type.

HotForex MICRO Account

HotForex’s MICRO account is for traders who trade small amounts.

The minimum deposit is $5 and the maximum leverage is 1:1000, so you can trade with a small margin.

The stop out level is also set at 10%, which is lower than other HotForex account types, so even with a small margin, you can take advantage of high leverage and aim for high profits while sticking to the limit.

This is an account for small trades, and you can only order up to 7 lots per order.

Well, I think that 7 lots is enough for general traders, and since I can have up to 150 positions, I think that there is no problem.

One thing to note is that you can only get a deposit bonus on your HotForex micro account if you choose MT4 as your trading platform.

Please note that if you select MT5, you will not be eligible for the deposit bonus.

HotForex PREMIUM Account

HotForex PREMIUM accounts are for general discretionary traders.

There is no small lot limit when ordering like MICRO account.
Up to 60 lots can be ordered with one order.

Trading conditions are almost the same as MICRO accounts.

I recommend PREMIUM account for traders who have a certain amount of trading funds and want to trade without restrictions.

Same as MICRO account, if you select MT5 as the trading platform, you will not receive a deposit bonus.

If you want to take advantage of the deposit bonus, please select MT4.

HotForex ZERO SPREAD Account

HotForex ZERO SPREAD account is an ECN account.

Instead of keeping spreads to near zero, you will be charged a transaction fee for each order.

The transaction fee for HotForex ZERO SPREAD account is $6 round trip per lot.
It’s in the cheap category.

Please note that deposit bonuses are not applicable regardless of the trading platform.

Other conditions such as minimum deposit are not particularly bad, so it is an account for advanced traders who want to concentrate on trading.

Common Conditions of All Account Types

In addition, I will introduce the specifications that are common to all account types.

HotForex Trading Platform

All account types allows both of MT4 and MT5.

Please be noted again that MT5 doesn’t offer bonus program.

If you want to get bonus, select MT4.

HotForex Stop Out Level

Only for MICRO account, stop out level is 10%, margin call is 40%.
For others, stop out level is 20%, margin call is 50%.

HotForex Negative Balance Protection System

Of course, NBP applies to all accounts.

Does HotForex allow to use EA (Expert Advisor) tool?

Yes, you can use any EA on XM.

Does HotForex allow scalping trading?

HotForex does not prohibit scalping trading.

However, the stop level is rather wide.

For example, EURUSD is 3.0 pips in MICRO and PREMIUM account.

HotForex is not suitable for scalping.

The HotForex stop level is summarized in detail in the separate article “HotForex Stop Level | Conditions for Scalping, Stop/Limit Orders“, so please refer to that as well.

HotForex Stop Level | Conditions for Scalping, Stop/Limit Orders

I will explain the stop level of HotForex.If the stop level is too wide, it will be disadvantageous for traders who aim

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The most recommended account type in HotForex is “PREMIUM Account”

If you cannot decide, it’s a good idea to have a premium account.

You can get a bonus and the trading conditions are not bad.

You can also create additional accounts with HotForex.

You can choose a different account type for the additional account, so you can create a different account type later.

Summary

How was that?

If you haven’t opened HotForex account yet, please open an account by referring to the separate article “How to open HotForex account“.

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