Types of Forex Brokers

Major Types of Forex Brokers

There are two main types of Forex brokerage firms, Dealing Desk, and No Dealing Desk:

(I) Dealing Desk Brokers (DD) or Market Makers

(II) No Dealing Desk Brokers (NDD)

Each brokerage type offers a different order structure, as it is presented below.

(I) Dealing Desk (DD) or Market Makers

Dealing Desk firms are also called Market Makers. This type of brokerage usually provides fixed spreads and no commissions. Dealing Desk firms make money out of the spread between ask/bid. Actually Dealing Desks are always trading on the opposite side than their clients do. They provide bid/offer prices in a way that they are able to diversify their market risk via orders of a different direction. This type of Forex brokerage is accused of high slippage, price manipulation, and stop-handing techniques. Market-makers are only suitable for Forex beginners, and maybe semi-advanced traders.

Compare Brokers: » Market Makers

HotForex Review

 
HotForex
Company
Trading info Account info
 
HotForex Review

Broker Type:
HotForex is an STP Forex Broker specialized in trading CFDs

HotForex Brokers Affiliation:

HotForex is not associated with other Forex Brokers
 

HotForex Foundation:
HotForex FoundationHotForex is the Trading Name of HF Markets Europe Ltd.

HotForex was found in 2007

HotForex Regulation:

HotForex is regulated by:
1) CySEC (183/12) and MiFID 2) Registered with FCA, CONSOB, ACP, CNMV, AFM and Danish FSA.
This is a Pro for HotForex
 
Trading Time:
GMT
 
HotForex Trading Spread:
HotForex Trading Info
HotForex spread on EUR/USD is Fixed at 1.8 pip
This is a Balance for HotForex
HotForex Leverage: HotForex offers trading leverage up to 1/1,000
This is a Pro for HotForex

HotForex Commissions: HotForex is not charging any commissions

This is a Pro for HotForex

Scalping / Hedging:

HotForex allow scalping and hedging -Yes-

This is a Pro for HotForex
HotForex Trading Assets:
HotForex Trading Assets

HotForex is offering
1) 43 Forex pairs

2) CFD Trading: 12 Indices, 36 Shares and 5 Commodities (Gold, Silver, Oil included)

This is a Pro for HotForex
HotForex Account Currencies:
EUR and USD
Check HotForex Rating
OnlineForex.Biz Rating 70.83%
 
» HotForex Rating

HotForex


» How our Ratings work
HotForex Headquarters:
HotForex HeadquartersHotForex has offices in London, UK
This is a Pro for HotForex
 
Careers at HotForex:
»Careers
HotForex Traders

HotForex Trading Platforms:
HotForex Trading Info 1) HotForex WebTrader, 2) MT4 and MT4 Multi-Terminal and 3) FIX/API Trader

HotForex Trading Review

Mobile Platforms: HotForex offers Mobile Applications for iPhone, iPad, Android and BlackBerry devices
This is a Pro for HotForex
Deposit Funds in HotForex:
HotForex New Account Information
Minimum deposit in HotForex Brokers is $5 (micro account)
This is a Pro for HotForex
Deposit Methods:
VISA AND MASTERCARDBANK WIREMONEY BOOKERSNETELLERWeb Money is available at AVA FX
 
Withdraw Funds from HotForex:
HotForex is not charging any kind of commissions on Micro, Premium and Fix Accounts. It charges trading commissions on VIP, Zulu and Currenex Account
-Yes / No-
This is a Balance for HotForex
 
Withdrawal Methods:
VISA AND MASTERCARDBANK WIREMONEY BOOKERSNETELLERWeb Money is available at AVA FX
This is a Pro for HotForex
US Traders:
HotForex Policy for US Traders
HotForex forbids US traders
This is a Con for HotForex Brokers
 
HotForex Customer Service:
HotForex provides 24/5 Customer ServiceHotForex Customer ServiceCustomer Service
HotForex Bonus / Rebate: (?)
HotForex Promotional Program
HotForex offers a bonus of 100% on new deposits (at the time of the review)
This is a Pro for HotForex
Open a New Account on HotForex
Open a Trading Account on HotForex:
Online Forex Broker -HotForex Brokers- Review
 

HotForex Review Conclusions

HotForex is a popular Forex Broker offering Forex & CFD Trading. HotForex provides a good variety of trading features concerning every aspect. As concerns trading platforms there are two versions of MT4, a Web-Trader, and mobile apps for all popular devices. Automated Trading, API trading, and full-scalping allowance. Other Trading Features include 1-click-trading and Trading Central Analysis. HotForex asset index includes more than 40 Forex Pairs, 5 Metals, 12 Indices and about 35 shares from all over the world. Free Offers include Video Tutorials and other forms of Education.

For new accounts, the bonus policy is 100%  (at the time of the review) while the minimum deposit is just $5 for micro accounts. Fund methods include all popular methods except Paypal. HotForex offers a fixed spread on EUR/USD (1.8 pip). Trading commissions are charged only on some types of trading accounts. In overall HotForex can cover the needs of all novice and advanced Forex traders.

Forex Pairs: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURDKK, EURGBP, EURHUF, EURJPY, EURNZD, EURPLN ,EURUSD, EURRON, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDJPY, NZDUSD, NZDCHF, NZDCAD, USDCAD, USDCHF, USDDKK, USDHKD, USDHUF, USDJPY, USDNOK, USDPLN, USDSGD, USDTRY, USDZAR, USDRON, ZARJPY, USDSEK

 
 

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