HotForex deposit bonus review – Explore 3 different bonus programs
HotForex is an award-winning multi-regulated Forex broker that has been in the Forex industry for more than 10 years now. The company has over 2,500,000 active users registered on its platform and supports them in 27 different languages. HotForex has received 45 industry awards for its exceptional services and dedication to traders’ best experience.
The offerings of the broker are highly reliable since HotForex holds licenses and authorization from the notorious regulatory bodies like the Cyprus Securities and Investment Commission (CySEC), Financial Conduct Authority in the United Kingdom (FCA), Dubai Financial Services Authority (DFSA), the Financial Sector Conduct Authority in South Africa (FSCA) and the Financial Services Authority in Seychelles (FSA).
The broker also runs one of the best promotional campaigns uniting three different bonus programs: 100% Supercharged bonus, 30% Rescue bonus, and 100% Credit bonus. We will cover all three of them in the HotForex bonus review article below with applicable terms and conditions, tips, and a guide on how to claim the bonus.
HotForex Bonus Conditions
HotForex bonus programs are three individual programs available to both existing and new registering users on the broker’s platform. They are supported on both MetaTrader 4 and MetaTrader 5 real trading accounts. Along with these bonus programs, HotForex also runs multiple Forex trading contests with cash and gadget prizes, as well as VIP trips, however, we will not be covering them here. For more information on available trading contests visit our dedicated page.
It should be noted that according to the eligibility criteria of the HotForex bonus programs, the residents of the European Union cannot participate in any of them. Furthermore, clients have to be at least 18 years old when registering on the broker’s platform and should be legally allowed to trade Forex or financial instruments in their countries of residence. The rest of the terms and conditions are individually tailored for each bonus scheme, which we will cover in greater detail below.
100% Supercharged bonus
One of the most important HotForex bonuses is a 100% Supercharged bonus, which serves as a deposit bonus. The bonus can be applied to Islamic or Premium account types only. The traders have to deposit at least 250 US dollars in order to be eligible for the program. After making a deposit as per investment requirements the broker will automatically send an additional 100% of the initial investment to the trader’s account balance. The cumulative bonus amount can reach a maximum of 50,000 US dollars. The bonus is non-withdrawable and can be used for trading purposes only. However, all profits generated from trading with a 100% Supercharged bonus can be withdrawn after meeting the volume requirements.
30% Rescue bonus
HotForex offers a tradable rescue bonus – a 30% deposit bonus with the purpose to save a trader from getting the early margin call. The bonus is activated upon making a minimum deposit of 50 US dollars. The bonus can be used for increasing account leverage, however, it can never be withdrawn. The maximum cumulative bonus amount can reach 7,000 US dollars. After reaching the limit, clients can use an additional stop-out bonus. An additional 30% stop-out bonus can be sued until it reaches a cumulative bonus amount of 3,000 US dollars. The profits generated with a rescue bonus can be withdrawn but it will result in a deduction of the rewarded amount.
100% Credit bonus
HotForex Credit bonus is another deposit bonus program run by the broker. It also doubles the investment of the trader and requires a minimum deposit of at least 100 US dollars. The promotion is available on Micro, Islamic and Premium account types only. The cumulative bonus amount can reach 30,000 US dollars. Credit bonus is not withdrawable, however, the profits generated while trading with it can be withdrawn after meeting the volume requirements. The trading volume requirements of the program are calculated through the following formula: total awarded bonus sum/2 = number of standard lots required to trade.
Step by step guide on getting the bonus
We will go through the process of claiming the HotForex deposit bonus in detail. Let’s observe an example of claiming HotForex 100% Supercharged bonus for a new registering client.
- Visit the official website of HotForex and navigate to the Promotions page where you will locate a 100% Supercharged bonus. Click on Claim this bonus button and head to the registration page. Here you will have to fill in the form for Individual clients which requires your country of residence, phone number, first and last names, email address, and date of birth. Remember to provide legit data as you may be required to verify the details later using supporting documents such as your ID, Passport, or Driver’s license.
- You will receive a confirmation link on your email address. After you confirm the email you will get your login details along with your myHF account ID and myHF password. Use this information to log in to your myHF account. Next, you will have to fill in the personal information table with your country of birth, your title, address line, town/city, province/state, and zip code. Don’t forget to choose your account base currency (either USD or EUR) before going to the next step. You will also be required to respond to few questions on your investor profile, trading experience and knowledge.
- For the next step, you have to upload supporting documents that verify your identity and address of residence. You can choose either Passport, Personal ID, or Driver’s License to verify your identity. Take a picture or scan both the front and back sides of your document and upload it on the website. Similarly, use one of the following documents to verify your residential address:
– Recent Electricity Bill
– Recent Gas Bill
– Recent Phone Bill
– Recent Bank Statement / Credit Card Bill
– Valid ID with Address
– The front and back of the ID needs to be submitted and the ID needs to include the address
– A passport which includes stamped physical address page
- After you upload your supporting documents on the HotForex platform you can make your deposit. You can choose between eleven different payment methods to fund your trading account including credit/debit cards, bank wire transfers and online payment solutions. After making an initial deposit the bonus amount will be credited to your balance.
Rush to claim any of these three HotForex bonuses
HotForex bonus programs are not expected to be there forever. We believe that they provide a unique opportunity to get rewarded for registering with a broker and offer convenient terms and conditions to use the bonus for your own benefit and withdraw the profits later. For beginner traders, we recommend using a 100% Supercharged bonus as it comes with easier terms and conditions and also requires a lower minimum deposit – 50 US dollars compared to a 100% credit bonus. At the same time, you can activate a 30% rescue bonus which will protect you from possible downturns on the market.