HotForex Mobile Application – What are the pros and cons?
Mobile trading has seen a rapid increase in recent years with many brokers creating mobile apps for traders. The HotForex broker is no exception. Over the years operating in the forex market, the broker has also designed a mobile trading platform that will delight both novice and experienced traders. The advantages offered by these applications are vast. It is no longer necessary to trade from your laptop or PC as everything will be available on your mobile devices making the trading process comfortable and convenient. The HF app gives you access to all trading features 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 the HotForex app look like?
The HotForex mobile app is something every trader will want to have during the trading process. The broker offers a well-designed app, with amazing features, good user experience and interface. The app is available on Android and iOS devices, so you can download it from the App Store or Google Play Store respectively. Currency rates, economic calendars, trading calculators, it’s all available in one mobile app, which will open up 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 mapping functionality, deposits, withdrawals and transfers. In short, traders will be able to do everything in the app, like the desktop version.
When designing forex trading applications, it is necessary to avoid unnecessary functionality, so as not to overload the application. In the HotForex app, you will see a design, colors and buttons created in a way that enhances the customer experience.
HF mobile trading features
The HF mobile app has amazing features. First of all, you can view the economic calendar, see the latest events, access the trading calculator, open and close positions. With the HF app, account management is easier – log into your personal area on the mobile device and start trading. It is also possible to select different time frames, charts, apply technical indicators and read live news.
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HFcopy is an innovative solution that is even more accessible for merchants. This feature is truly unique. PAMM deserves to be mentioned. Fund managers use funds allocated by investors and trade in exchange for a commission on success.
The leverage effect is the same for the mobile app as it is for 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 website of the HotForex broker tells clients that the effect of Leverage can be adjusted in case the equity in the account exceeds $ 300,000. The leverage rate on HotForex is quite decent and the availability of different accounts allows traders to choose the option that is most preferred to them.
The spreads follow the same principle as the leverage effect on the mobile application. They start at 0 pip (on Forex) on Zero Spread accounts and at 1 pip on other types of accounts. In general, the spreads are variable on HotForex. These are actually a commission fee that the broker takes from a trader as part of the service.
Advantages and disadvantages of the HF mobile application
While we have mainly looked at the positive aspects of the HF mobile app which is why it is good to download it and start trading, there are also downsides. There aren’t too many of them of course, but nothing comes with just the sun and the rainbows. To get a more complete overview of the app, it’s a good idea to check everything thoroughly.
The obvious advantages of the HF mobile app include the ability to trade from any location, easy navigation and all the features in one app. Other additional features include PAMM, Copy Trading, Simplified Charting, and Live Quotes. We’ll go through each of them step by step and learn more about these features.
PAMM accounts are a way to invest in stock traders, where each of them has their own rating, profitability indicators and trading volumes for all assets for all times. This is a specific mechanism available on HotForex for the operation of a trading account, which technically simplifies the process of transferring funds from a trading account to fiduciary management to a selected fiduciary to carry out transactions on them. financial markets.
Another cool 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 their trading model. In other words, where it invests, you will also invest money there. Copy Trading is based on the proportionality of transactions.
Creating charts is easier with the mobile app. You are able to follow the charts and understand everything clearly. This is a feature that will delight every trader because simplicity is the key to successful trading.
HotForex’s mobile app allows traders to access live rates on different trading instruments such as Forex, stocks, commodities and indices, wherever you are. It should be noted that this feature is really useful because you can follow everything “in progress”. These quotes are well designed and the user experience is decent.
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After talking about the pros of the HF mobile app, we should go ahead with the cons, which are obviously not too many. The developers made sure to mitigate any type of bug as much as possible, but there are still several things to note. The first is the unavailability of the application on Windows phones and the loading time.
Not supported on Windows phones
The app only supports Android and iOS devices. Although there is a large portion of people, who also own Windows phones, they might be disappointed because it is currently not available on these devices. However, HotForex is growing rapidly, so there is a chance that in the future the broker will also have the app on Windows mobile phones.
The user interface, design, and navigation are all right, but there are times when the app takes too long to load, especially if you’re using mobile data. For this reason, it is a good idea to have the latest updates on your phones and to make sure that you are connected to the Wi-Fi network.
HF Mobile FAQ
Does HotForex have an app?
Yes, the HotForex broker has a mobile application for trading. The application is well designed and we will immediately understand that the developers have put a lot of effort and energy into creating this system. The app is available on Android and iPhone devices, which means you can download it through the App Store or the Play Store.
Does HF Mobile consume a lot of data?
No, in fact, HF mobile does not consume a lot of data. However, it should be mentioned that depending on what you do in the app, mobile data usage may vary. Also, newer phones tend to consume more data than older ones, but the experience is improving as well.