HotForex Mobile App - What are The Advantages and Disadvantages? - TopRatedForexBrokers News

Posted: 31 May 2021 08:34 AM PDT

HF mobile app

Mobile trading has seen a rapid surge in recent years with numerous brokers creating mobile apps for traders. HotForex broker is no exception. Throughout the years operating on the FX market, the broker also designed a mobile trading platform which will delight both new and experienced traders. The benefits that these app offers are vast. It is no longer necessary to trade from your laptop or PC, as everything will be available on your mobile devices, which makes the process of trading comfortable and convenient. HF app lets you access all features of trading in no time.

HotForex is a trustworthy and reliable broker with a CySEC license. In addition, the broker also has other licenses to serve clients from other countries like South Africa, Dubai, England, etc.

What Does HotForex App Look Like?

HotForex mobile app is something that every trader will wish to have, during the trading process. The broker offers a nicely designed application, with incredible features, a good user experience, and an interface. The app is available on both Android and iOS devices, so you can download it from App Store or Google Play Store respectively. From currency rates, economic calendars, trading calculators everything is available in a single mobile app, which will open new possibilities in the palm of your hand.

HotForex app is a great addition to trading platforms. At the same time, the dashboard is really good. The app comes with PAMM, HFcopy, advanced charting functionality, deposits, withdrawals, and transfers. In short, traders will be able to conduct everything in the application, like the desktop version.

When designing forex trading apps it is necessary to avoid useless features, so that not to overload the app. In the HotForex app, you will see a design, colors, and buttons that are created in a way that will make the customer's experience better.

HF mobile review

HF Mobile Trading Features

HF mobile app has incredible features. First of all, you can check the economic calendar, see the latest events, access the trading calculator, open and close positions. With the HF app managing the account is easier – login to your personal area on the mobile device and start trading. It is also possible to select different time frames, graphs, apply technical indicators and read news live.

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HFcopy is an innovative solution that is even more accessible for traders. This feature is really unique. PAMM is worth mentioning. Fund managers use funds that are allocated by investors and trade in return for a success fee.

Available Leverage

Leverage is the same for the mobile app as in the desktop version. The maximum leverage you can get on HotForex is 1:1000 – for a Micro account. As for Premium, Zero Spread, and Auto accounts it is 1:500, while HFCOPY and PAMM have 1:400 and 1:300 respectively. The official HotForex broker's website tells customers that leverage may be adjusted in case the equity in the account is over $300,000. The rate of leverage on HotForex is pretty decent and the availability of different accounts makes it possible for traders to choose an option that is the most preferential for them.

Spreads

Spreads follow the same principle as leverage on the mobile app. They start from 0 pip (on Forex) on Zero Spread accounts and from 1 pip on other types of accounts. In general, spreads are variable on HotForex. They are actually commission fees that the broker takes from a trader as a part of the service.

HF mobile version

Pros & Cons of HF mobile app

While we have mainly reviewed the positive sides of the HF mobile app, which is why it is good to download it and actually start trading, there are cons as well. They are not too many of course, but nothing comes with only sunshine and rainbows. To have a more comprehensive insight into the app, it is a good idea to check everything thoroughly.

Pros

The obvious pros of the HF mobile app include the possibility of trading from every place, simplified navigation, and all features united in one app. Other additional features include PAMM, Copy Trading, Simplified Charting, and Live Quotes. We will review each of them step by step and find out more about these functionalities.

PAMM

PAMM accounts are a way to invest in traders on the exchange, where each of them has its own rating, indicators of profitability, and trading volumes for all assets for all time. It is a specific mechanism available on HotForex for the functioning of a trading account, which technically simplifies the process of transferring funds on a trading account to trust management to a selected trustee for conducting transactions in financial markets.

Copy Trading

Another good feature of the HotForex mobile app is copy trading. Copy Trading is a type of trading where you select an investor (whom you trust) and copy his trading pattern. That is, where he invests, you will also invest money there. Copy Trading is based on the proportionality of trades.

Simplified Charting

Charting is simpler with the mobile app. You are able to keep track of charts and understand everything clearly. This is a function that will delight every trader because simplicity is the key to successful trading.

Live Quotes

The mobile app of HotForex allows traders to access live rates on different trading instruments such as Forex, stocks, commodities, and indices no matter where you are. It should be noted that this feature is really useful because you can track everything "in-process". These quotes are designed nicely and the user experience is decent.

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Cons

After talking about the pros of the HF mobile app we should move forward with the cons, which obviously are not too many. The developers ensured to alleviate any kind of bugs to the maximum, but still, there are several points which we should note. The first one is the unavailability of the app on Windows phones and the loading time.

Not supported on Windows phones

The app only supports Android and iOS devices. While there is a major portion of people, who also possess Windows phones they might find themselves disappointed, as it is currently not available on such devices. However, HotForex develops rapidly so there are chances that in the future the broker will also have the app on Windows mobile phones.

Loading time

The user interface, design, and navigation are on point, but there are moments when the application takes too much time to load – especially if you are using mobile data. Because of that, it is a good idea to have the latest updates on your phones, as well as, to ensure that you are connected to the Wi-Fi network.

FAQ on HF Mobile

Does HotForex have an app?

Yes, HotForex broker has a mobile app for trading. The app is designed nicely, and immediately we will understand that the developers put a lot of effort and energy into creating this system. The app is available on Android and iPhone devices, meaning that you can download it through App Store or Play Store.

Does HF Mobile consume a lot of data?

No, actually HF mobile does not consume a lot of data. However, it needs to be mentioned that depending on what you are doing inside the app, the usage of mobile data could vary. Also, newer phones tend to be consuming more data, than the older ones, but simultaneously the experience improves as well.

Written By

Kate Leaman

With over 10 years experience as a trade news writer, Kate is our FX and commodities expert. Kate is also a talented voice over artist and BBC TV presenter, mother of two and yoga fan. Read Kate's bio

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