Review HotForex

Founded in 2010
Headquarters in Mauritius

Who is HotForex?

Forex and CFD trading continue to gain in popularity each year as more people become aware of the potential gains to be made in the markets. Unfortunately, some still stay away because they believe that trading the markets is a business that takes up 24 hours a day to study the markets, monitor assets, place trades, and perform analysis. Honestly, who has time for all that while still working a full-time job and enjoying time with the family?

HotForex has a solution to the dilemma. It’s their increasingly popular HFcopy Programs, which allows anyone access to the markets without sucking up all your valuable time.

If you haven’t come across them yet you should know that HotForex is one of the growing online brokers, offering outstanding trading conditions and now offering a social trading platform that’s an industry leader. As a broker built on the principle of trustworthy customer service HotForex has been able to attract many clients who enjoy the service the broker offers.

In addition, there are more than 1,000 assets offered to clients at HotForex, which allows for great diversity. Traders can participate in the forex markets, along with trading CFDs on commodities, stocks, indices, bonds, ETFs, DMA Stocks and cryptocurrencies. No market is left out and every trader can find something suitable to trade. Even those who do not want to trade on their own can trade with the HFcopy Program.

As part of the HF Markets Group, HotForex is safe and secure, with regulation from leading regulators and insurance of €5,000,000 to protect client funds in the event of unforeseen events. Accounts are all segregated as well, and the broker follows the policy of negative balance protection. Besides the social trading program clients also receive top-level trading tools and trading education.

What is the HFcopy Program?

HFcopy is a social trading program accessible easily through HotForex as a browser-based application. It allows traders to work with one another to try to profit together. It has two aspects, one as a Follower and one as a Strategy Provider. New traders can use the Follower feature to trade without putting in hours and hours of market research, and advanced traders can use the Strategy Provider feature to share their expertise with others and receive compensation for successful trades at the same time.

HotForex HFcopy Program

Using HFcopy is a simple process. Simply create an account and specify yourself as a Follower or Strategy Provider. Either way you become part of the collective trading group seeking profits from the global financial markets.

How Does HFcopy Work?

As mentioned above there are two facets of the HFcopy Program. One is for Followers and the other is for Strategy Providers. Those who are new to trading are best served by joining the program as Followers and then benefitting from the experience and trading skills of the more seasoned Strategy Providers. The great thing is that as a Follower you are free to follow the trades of any Strategy Provider (up to three at the same time). This allows you to also diversify your trading and change to a different Strategy Provider if you aren’t happy with the results you’re receiving.

As a Follower you can always access your account and keep track of open positions, close those positions, withdraw your profits, set an allocation percentage or a rescue level, and change any other settings. Becoming a Follower is perfect for those with limited trading experience, or for those who lack the time to research markets on a continuous basis.

Traders with more experience can choose to become Strategy Providers. Once you register an account to become a Strategy Provider you then demonstrate your trading strategies and results. If your work looks promising you will be able to acquire followers and make fees based on your performance.

HFcopy Follower Benefits

Followers can happily sidestep all the complexities of analyzing markets and creating a trading strategy and instead have someone else take care of all the details. The Followers get to enjoy all of these benefits:

  • Always in control of trades. Trades are opened automatically as the Strategy Provider opens positions, but the Follower is free to close any of these trades at any time.
  • Set risk limits. Followers are free to set the amount of equity they are willing to risk, and the Volume Allocation feature allows the Follower to determine exactly what percentage of the Strategy Providers trades will be copied.
  • Set a rescue level. This allows the Follower to always keep a portion of their capital in reserve, ensuring that some part of the trading account will always remain safe even if the trades made by the Strategy Provider go pear shaped.
  • Follow and unfollow at your convenience. Followers are free to change Strategy Providers at any time.
  • Make withdrawals. Your funds are always yours and your profits are available to be freely withdrawn at any time.

Joining the HotForex HFcopy Program takes just a couple minutes of your time. Sign up in seconds, review the performance of the available Strategy Providers, and choose who you’d like to follow. It’s really that simple.

HotForex HFcopy Follower Benefits

Monitor the performance of your traders and you could be profiting the same day.

HFcopy Strategy Provider Benefits

Those who have trading experience and want to turn that into additional profits can sign up at HotForex’s HFcopy Program as a Strategy Provider and get paid by those who follow their strategies. There is a number of benefits to doing so, which includes the following:

  • Performance fees. Strategy Providers can set their own performance fee (up to 35%) and get paid for positive trading results from their Followers.
  • Monthly payouts. Performance fees are distributed twice a month to the myHF wallet included in the Strategy Provider account. These fees are calculated using the High Watermark regime which ensures that Strategy Providers do not get paid for poor performance unless they are able to replace any funds, they’ve lost by delivering better trading performance.
  • Three accounts. Just like Followers can have three accounts to follow three different Strategy Providers, the Strategy Providers are also able to have three accounts in order to showcase different strategies.
  • Showcase your trading knowledge and skills. Your performance as a Strategy Provider is transparent and can be viewed, reviewed, monitored, and compared with other Strategy Providers. Show the world that you’re the best when it comes to trading.
HotForex HFcopy Strategy Provider Benefits

Strategy Providers can get started by following just a few simple steps. The first is to open a Strategy Provider account at HotForex’s HFcopy program. Next, deposit some funds and begin trading to showcase your trading skills. Attract Followers and receive performance fees, then repeat to grow your trading business.

In Conclusion

Social trading is not new, but HotForex is taking it to new levels. There has never been an easier way to trade the markets while maintaining control over your trading capital. It’s a truly revolutionary way to access the power of the markets and allows even those with limited time to participate.

Working as a Strategy Provider is equally revolutionary. In the past you might need to get a Wall Street job or start your own fund to trade other people’s money. And that still did not guarantee good performance. With HFcopy anyone with the skills can become a Strategy Provider and build-up their own group of “investors”.

Whether joining as a Follower or as a Strategy Provider there’s little in the way of negatives to HFcopy. Both sides can benefit from making trading a social activity.

Disclaimer: Products and Services differ based on the entity of HF Markets Group.

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