Me and my team review forex trading brokers by trading with them to show you the best among them.
Today, we bring to you Our Review on Hotforex broker which is our Number 1 recommend broker that we have Tested and trusted.
Hotforex broker has the following interesting features:
- Minimum Deposit of $5
- MT4 and MT5 available
- very low trading fees
- low leverage
- no deposit and withdrawal charges
- crypto trading available
- founded since 2010
- Regulated by CYSEC, FCA, DFSA, FSCA
- User friendly
What is a trusted broker?
A trusted broker is the one that offers fair trading conditions, good regulations, low charges and good reviews.
Why did we select these broker?
we always select trusted Forex Broker to make things easier for traders. By doing this, beginner traders can more confidently select a regulated and trusted broker, and stay away from scam brokers. The trusted Forex brokers are tested by me and my team.
More tips when choosing a Forex broker
Open a Demo account and a Live account. Don’t fund it. Perform a backtest to check if the results are the same. This will prove to you if the broker provides the same quotes on their Demo account and the Live account. If not, testing on the Demo account won’t give you an accurate assessment of live trading results.
When opening a live account, fund it with the smallest amount possible. Perform some trading and withdraw some cash to make sure there are no issues with this process.
If you are going to trade with Expert Advisors, it is best to test the Live account with many EAs trading with 0.01 lots. Simultaneously, test the same EAs on a Demo account. Compare your results to ensure they are very similar.
Try not to depend on one broker. It is good to have accounts with a few brokers. This way, you can quickly move from one to another if needed. In addition, you will have access to Historical data from a few servers, and you will be able to compare results.
Always stay highly cautious with the brokers. Even the ones that appear to be acting appropriately and fairly currently. They could change their operating practices quite quickly.
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