Mobile trading has entered the Forex industry by storm and is developing gradually and showing no signs of slowing down. People have the ability to trade from any part of the world with a mobile device, access MT4 and MT5 trading platforms and receive the latest financial news and signals. HotForex mobile trading is well developed, optimized and the trading platforms are well designed.
HotForex is a licensed and regulated Forex broker that offers its services to people from different countries. Mobile trading on HotForex is advantageous as you will have access to various features that are also available on desktop platforms. You get full control over your account and constantly stay up to date with the latest happenings. You can download HotForex MT4 Android version on your mobile phone through Google Play Store and get secure and confidential platform. Learn more about other features and features of HotForex mobile trading.
What does HotForex mobile trading look like?
HotForex mobile trading is simple and easy to use. It provides traders with advanced charting and trading tools that can be used to make trades. The platform design is minimalist and with MT4 mobile version you will get the best user experience. We can already make some assumptions about HotForex mobile trading at first glance. The dashboard of the MT4 trading platform is well designed. The sections have specific locations allocated and the colors are perfectly chosen.
Start trading on HotForex!
The mobile devices of the MetaTrader 4 mobile platform, which were created to manage the deposit and analyze the current market situation, will keep you constantly up to date with Forex events. The software provides many convenient mobile trading features which are essential for successful trading on the MT4 platform.
The simple and convenient interface of the MetaTrader mobile app for Forex trading allows you to easily monitor the market situation. When you are not at home or in the office, you can perform all financial transactions online.
HF mobile trading features
Mobile trading on HotForex comes with a wide range of features. First of all, you get to access all the features available on desktop platforms. MT4 trading platforms have almost all the features that you will come across in trading on your computer. At the same time, mobile trading on the MT4 platform has made deposits and withdrawals easier. The advanced graphics functionality will not leave anyone disappointed with the different types of graphics available. You can also view your orders, get real-time market information, and receive indicators on how traders are reacting to currency movements.
Before we start talking about the leverage available on HotForex, we must first mention that there are 6 different types of accounts with different terms. The maximum amount of leverage you can get on HotForex is 1: 1000 for a Micro account. Premium, Zero Spread, and Auto accounts are 1: 500 respectively. HFCopy comes with 1: 400 and PAMM – 1: 300. Depending on whether you are a newbie or an experienced trader, you may need to use different leverage. The bigger ones are created for experienced traders who know how to deal with it, while novice traders will prefer low leverage so as not to lose funds.
On HotForex, the major foreign currency pairs are listed with five decimal places. Spreads generally vary and depending on the currency pair it can be different. For example, the spreads of AUD / CAD currency pairs start from 2.7 pips, EUR / AUD – 2.9. For example, if you were to buy the EUR for $ 40.00 and sell it for $ 39.25, the difference would be 75 pips. The spread is the difference between the Bid and Ask price and is one of the forms of commissions used by Forex brokers.
Advantages and disadvantages of HF mobile trading
Mobile trading on HotForex has many advantages. First of all, MT4 and MT5 trading platforms are available on Android and iOS devices. They allow opening, closing and editing of transactions, and with a stable internet connection, you will get all the functionality from any location.
We should obviously start with the cons as this is the reason why a lot of people start mobile trading on HotForex. The broker offers one-click trading, simplified charting, access to PAMM accounts, live quotes, the ability to view transaction history, indicators, currency charts. Basically all the cool features are provided.
In PAMM accounts, fund managers trade on behalf of investors. When you have a new account, a fund manager will start trading and after some profit you will have to pay a certain percentage of the winnings. On HotForex, you can easily access this feature and choose your fund managers.
Beginner traders often find it difficult to execute winning trades and this is not surprising since success in Forex depends on many different factors – from knowledge to experience. Copy trading makes your job easier. You can choose any trader from the list and start copying their trades. It is only after a successful negotiation that you will have to pay commission fees.
With the MetaTrader 4 and 5 trading platforms, you get simplified charts on your mobile devices. You can choose between different types of charts and time frames, apply technical indicators, use the scroll bar or read live news. An economic calendar is also provided where you can find out about upcoming financial events and announcements.
Mobile trading on HotForex gives you access to live rates on commodities, stocks, indices, Forex, wherever you are. The quotes are present in real time and you can consult them at any time.
Click here to register on HotForex
When we talk about the downsides of HotForex mobile trading, there aren’t too many downsides that we can potentially mention. The bottom line is that mobile trading is not supported on some devices. Additionally, multitasking is more difficult, and the platform is slightly slower than desktop platforms.
On your PC or laptop, you can open multiple tasks and manage them efficiently. The nature of mobile devices makes multitasking more difficult. It is difficult to open multiple things at once, while on your computer you can easily do it.
It goes without a doubt that the MT4 and MT5 mobile trading platforms normally work on mobile devices, but they are primarily designed to work on computers. Compared to iOS and Android phones, you will get slightly better performance on your laptop or PC. No matter how powerful your mobile device is, computers always have an advantage.
HF Mobile FAQ
Does HotForex have an app?
Yes, the HotForex broker has an app, but it is quite buggy and frequently lags. It is best to trade with MT4 and MT5 mobile platforms available on Android and iOS devices. You can download them from Play Store or App Store.
Does HF Mobile consume a lot of data?
No, HotForex mobile trading does not consume a lot of data because MT4 and MT5 are very well optimized. In general, it is recommended to have a 4G connection enabled on your device, to achieve maximum performance. Keep in mind that trading on mobile with cellular data will drain your battery and ensure that the phone is charged.