Finance

Everything about Six Hot Forex Account Types

If you are planning to open a HotForex account and don’t know much about it, you are in the right place.

HotForex has been providing its best trading services for many years. It offers six different types of accounts, and you can choose your account according to your requirements. If you want to open foran Islamic account or want a demo account, there is flexibility to trade for each level of trader. If you are looking for an account according to your trading strategy or an account that deducts less fee, various hot forex account types match your needs.

 Types of account

Account available on Hotforex are as follow:

  • Micro Account:

A micro account is a suitable option for beginners. It also suits those who want a small trading volume. Traders can open a micro account that offers a much lower deposit requirement than other accounts.

Features:

  • Deposit requirements are just $5
  • Maximum leverage is 1:1000
  • One pip is needed to start spread
  • Users can access different markets
  • Offer MT4 and MT5
  • Market execution
  • Commission-free trading

 

  • Premium Account

This type of account is good for experienced traders. It offers flexibility for traders if they want to increase trade size, but the limit of one trade size is 60 lots.

Features:

  • The requirement of minimum deposit is $100
  • Maximum leverage is 1:500
  • Users can start spread with one pip
  • Offer MT4 and MT5
  • Commission-free trading
  • Local numbers are also available
  • HFcopy Account

One of the best account types in the HtForex account type is HFcopy. 

This account is for SPs and their HFcopy followers. SPs can use this account to grow their fan base. They can trade and earn up to 50% performance fee.

Traders can copy the trades of many SPs using this account after depositing the initial deposit.

Features:

  • Requirements on minimum deposit are just $300
  • Maximum leverage is 1:400
  • User cant start spread with one pip
  • Users can also access Bitcoin, forex, and gold
  • Trade is performed through MT4
  • A trader can access to account manager and local number of users
  • Maximum 100 followers are allowed. 
  • Zero Spread Account

Zero spread account is popular because it offers low cast trading and tight spread. If you are a beginner or an experienced trader, this account will meet your requirements.

Features:

  • The requirement of maximum deposit are $200
  • Maximum leverage is 1:500
  • Users can start spread on 0 pip
  • Provide access to MT4 and MT5
  • Commissions are divided into two types, and traders will be charged per round traded depending on the financial instrument and trading volume.
  • Auto Account

If you want free or paid trading signals, then an auto account is the best type of HotForex account. It was derived from the MQL5 community. 

Features:

The requirements of minimum deposit are $200

Maximum leverage is 1:500

You can start spread on one pip

You can access different markets

  • Margin call of 50% and stop-out of 20%.
  • Commission-free trading.
  • Demo Account

One of the HotForex Account types is a demo account. It is a type of test or experient account that can be utilized in various ways. A great advantage of a demo account is it is not limited if you are:

  • A beginner who want to learn trading skills and want risk free environment
  • You are evaluating brokers but in risk-free environment
  • If you want to test your skills in trading.

Conclusion

Hotforex account types are six in number. Each offer different trading features for opening each level of account. Some account offers MT4 trading, and some offer MT5, whereas some offers both. Now you know each account type, and you can open an account that meets your needs.

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