Forex micro account brokers reviews
HotForex is quite new to the Forex trading market concerning the popularity and brand awareness, even though the company has been in operation since 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. 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. 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.
Nevertheless, almost all the modern regulatory organizations these days are committed to the welfare of forex micro account brokers reviews in general, which is a good thing, considering that the number of scams is increasing on a day-by-day basis. However, when it comes to choosing an account, HotForex forex micro account brokers reviews nine different types of accounts, which is a lot for the average trader. In our opinion, the leverage is too high for a Forex trader, but larger accounts have comparatively rational leverage to the tune of 1: The different types of forex micro account brokers reviews accounts are as follows:.
The Auto and HF Social accounts are social trading accounts that allow investors to copy trades from other successful forex micro account brokers reviews. 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 MultiTerminal can be used to manage multiple accounts, and is a useful tool for PAMM account holders or for forex micro account brokers reviews who trade on multiple investor accounts. 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. HotForex provides all the tools and services needed for clients of any level to realise their trading ambitions.
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The IFSC in Belize is the primary regulatory organization that regulates all the financial components of forex micro account brokers reviews company. Belize is a tax haven, and the regulatory guidelines of IFSC are still under debate as to whether it can be compared to the more established and highly forex micro account brokers reviews international regulatory organizations.
The broker claims to have more thanclients from different countries across the world. Although that might be an accurate representation of the reach of the broker by modern standards, the reality lies in the fact that the broker does not have any traders from the US, and the lack of EU regulation also prevents the broker from actively promoting their services in the Euro Forex micro account brokers reviews.
However, despite all the confusion surrounding the regulatory status, the broker has indeed managed to receive numerous awards and recognitions for their services. The broker has also been able to receive positive FBS reviews from existing customers; however, the broker is not entirely free from criticisms either. There are two types of accounts available for smaller traders, which include the Cent and the Micro accounts.
The Cent account also has very tight spreads starting from 1 pip, and the Micro account has fixed spreads starting from 3 pips. The maximum leverage offered is different for both accounts, as the Cent account has a maximum leverage of 1: Forex micro account brokers reviews Forex Brokers Reviews. The Cent account is certainly the more attractive proposition here due to the reduced cost of trading, as on the contrary, the Micro account spread of 3 pips is immensely higher than the average Micro account.
The final type of trading account is the Unlimited Account that is usually reserved for institutional and professional traders, which offers a maximum leverage of 1: The Unlimited account is the best type of FBS account due to its favorable trading conditions, lower cost of trading, comparatively lower leverage, and high speed of trade execution.
The FBS trading platforms are connected to high-speed servers, and the company has tweaked the platform slightly to offer the best trading results.
FBS customer support is available in 18 different languages and forex micro account brokers reviews designed to offer the most comprehensive support to forex micro account brokers reviews from a majority of Asian, European, and Middle Eastern clients. The live chat feature is an excellent feature to get immediate assistance, and official correspondence can be made through emails or phone calls. Unlimited account holders also enjoy SWAP-free accounts, which is a great feature for long-term traders who hold on to overnight trades.
FBS account can help in reducing the cost of trading to a great extent, which is indeed one of the most significant advantages of FBS.
Brokers only offer a bonus if traders are willing to accept their terms and conditions, and it is often difficult to satisfy these trading conditions before making a withdrawal of the initial invested amount. Novice and even experienced traders are susceptible to the risks of higher leverage, as a huge margin of 1: The high leverage is also another factor that contributes to the overall negative image of the company.
Profitable FX trading is dependent on striking the perfect balance between all the different tools of the trade, and if done carefully, FBS offers the best resources for making consistent profits in the Forex markets.
FBS is a global-scale broker, sticking to the principle of finding individual approach to each client. Leverage up to 1: Other Forex Brokers Reviews xm.
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