HotForex Deposit Bonuses
HotForex is one of the most trustworthy and reliable brokers out there. The company is famous for its multiple awards within the industry granted for the best trading conditions, excellent customer support, and transparency. Apart from the brilliance of the brokerage services that the company provides, HotForex additionally supports generous and highly rewarding promotional programs. Their reward package includes multiple contests that are based on trading performance, three different types of bonuses, and a loyalty program.
HotForex is regulated by four highly reputable regulatory bodies that include Financial Conduct Authority in the United Kingdom, Dubai Financial Services Authority, Financial Services Authority in Seychelles, and the Financial Sector Conduct Authority in South Africa. The company has been on market for over 10 years since its establishment in 2010. Currently, the company manages over 2 and a half million users registered with the broker and supports them in 27 different languages.
At the moment, there are three different bonus schemes developed by the broker. These schemes include a 100% supercharged bonus, a 30% rescue bonus, and a 100% credit bonus. All these bonuses have their own limits, requirements, and eligibility criteria. We will review the bonus programs offered by HotForex broker in greater detail below.
100% Supercharged Bonus
A 100% Supercharged bonus is a deposit bonus that applies to all qualifying deposits until the limit of the bonus is reached. The bonus program contains two different bonus schemes, one that is a 100% supercharged bonus and the other is daily cash rebates of 2 USD per lot. Both registering users and existing clients can claim the bonus given that they fit into the eligibility criteria and operate corresponding trading accounts. The promotion runs from 2014 and has no time limit.
Eligibility criteria state that all the clients who wish to receive the bonus should be recognized as of the legal age in their residence countries. The clients should open a real trading account with HotForex and the bonus program is applicable to these two following accounts only: Premium and Islamic. The qualifying deposit is defined as any deposit to the eligible trading accounts (Premium and Islamic) with 250 USD or more. Furthermore, internal transfers to the named accounts and with the minimum deposit amount also qualify for the 100% supercharged bonus credit and cash rebates. However, the bonus can be claimed only by one account per client, meaning that the accounts with the same IP address will not qualify for the program.
Limits and Withdrawal
The supercharged bonus is limited and the program stops when the cumulative bonus credit amount reaches 50,000 USD. The scheme was designed for trading purposes only and the bonus amount cannot be withdrawn. However, clients can successfully withdraw any profits generated from the 100% supercharged bonus at any time. The cash rebates are withdrawable as soon as they are earned. Furthermore, withdrawal conditions state that any amount withdrawn from the account will result in the proportional deduction of the deposit amount. The maximum amount of cash rebates that can be accumulated is 8,000 USD.
How to Claim Bonus
As soon as the user registers a real trading account and chooses one of these two account types: Islamic or Premium, the bonus program will be automatically activated. After depositing 250 USD or more to these accounts, traders will receive 100% credit, successfully doubling their funds on the account. Cash rebates, on the other hand, are based on the volume traded either on Forex or Gold products. The value of the rebate is calculated as the USD pip value of the traded product in Forex, in volumes of 0.2 lots. In order to qualify for the cash rebates, positions should exceed 0.2 lots. For Gold trading, the value of the rebate is 2 USD per qualifying round turn traded on the product. The open positions should exceed 1 minute in order to receive 50% of the rebate amount and 2 minutes in order to claim the complete rebate amount.
30% Rescue Bonus
The rescue bonus of 30% is a unique concept developed by the HotForex broker. The purpose of the bonus scheme is to protect the traders from periods of drawdown and increase the account leverage. The rescue bonus is applicable to all qualifying accounts and deposits and can be lost at any given moment without any liabilities applicable to the trader. There is an additional ‘stop out bonus’ available for the clients with the qualifying accounts.
According to the terms and conditions of the promotional program, ‘minors’, or any person who is not considered to have reached the legal age in his or her country of residence cannot satisfy the eligibility requirements. The bonus scheme applies to real trading accounts registered with the broker. The qualifying deposit is considered to be each and every deposit with the amount of 50 USD, 40 EUR, or more on the corresponding real trading account. The rescue bonus applies to one account per client.
Limits and Withdrawal
The Rescue Program offered by HotForex runs from November 2013 and still remains active with no time limit. The program can also be used as ‘Stop Loss’ since there exists no limitation in using it for trading. Similarly, the bonus can also be used as a Margin. Furthermore, the leverage of the account types should also be considered when claiming the bonus. For instance, the maximum leverage for Micro accounts where rescue bonus applies can go up to 1:500. However, the 30% rescue bonus is non-withdrawable at any stage. The maximum amount of the cumulative bonus amount is 7,000 USD or 5,000 EUR.
How to Claim Bonus
Whenever the client deposits minimum of 50 USD or 40 EUR to his or her real trading account, the 30% rescue bonus will automatically be credited to the relative trading account. In case the trader reaches the’ stop out’ limit, he or she will be entitled to receive additional 30% rewards on subsequent deposits to his/her trading account. The maximum cumulative amount for the ‘stop out’ rewards can go up to 3000 USD. The ‘stop out’ rewards become eligible only after the client reaches the maximum limit of the 30% rescue bonus. In order to claim the ‘stop out’ reward, the traders should simply contact the company directly and provide the account number.
100% Credit Bonus
One of the most generous promotional programs offered by the best Forex brokers worldwide is essentially the 100% credit bonus. HotForex provides the program in order to increase the account leverage of its clients and encourage prudent trading. Furthermore, the bonus can be withdrawn at any time after meeting the trading volume requirements. 100% Credit Bonus effectively makes the stop-out level on cash balance zero. The promotion encompasses the relaxed time limit for completing the volume requirements.
Once again, in order to qualify for participation in the above-mentioned promotional program, traders have to be considered of the legal age within their residential jurisdictions. They need to register a live trading account, in contrast to a demo account that is not eligible for the promotion. The program is eligible for three live trading account types: Islamic, Premium, and Micro accounts. The bonus will affectively be credited after each qualifying deposit. The minimum requirement for the deposit is 100 USD or 100 EUR. Clients can only use the promotional campaign for a single account. Multiple accounts of the same IP address will not qualify for the program.
Limits and Withdrawal
The 100% Credit Bonus program runs from 2013 and has no time limit. The maximum cumulative account that the bonus amount can reach for a single account is 30,000 USD or 25,000 EUR. In order to withdraw the credit bonus, traders need to make transactions in the amount of the total awarded bonus sum/2, which is the number of the standard lots. However, the trades need to have 3 pips spread in order to be counted within the volume requirements. After meeting the volume requirements, traders have to notify the support team in order to release the bonus. Clients have 3 months after meeting the volume requirements in order to withdraw the bonus.
How to Claim Bonus
In order to receive the bonus, traders should register a live trading account on either Islamic, Premium, or Micro account types. After depositing 100 USD, the bonus will be credited to the trading account. However, without claiming the bonus, withdrawal of the funds or internal transfers from the eligible account will result in the proportional deduction of the credit bonus from the account. For instance, if you have received 200 US dollars as a credit bonus, according to the formula that we presented above (total awarded bonus sum/2) you will need to complete transactions in the amount of 100 standard lots. However, not all trading instruments qualify within the volume requirements. You should trade with commodities, cryptocurrencies (BTCUSD, BTCEUR), energies, spot indices, USDIndex, metals, or US shares.
Apart from the brilliant bonus schemes that the broker offers in three different versions, there are numerous loyalty and promotional programs provided by one of the best Forex brokers worldwide. The broker carries out various trading contests that are based on the trading performance of the clients, as well as an incredible customer-oriented loyalty program. There are several trading contests held on a monthly basis that provides immense prize pools, including cash prizes, gadgets, such as iPhone 12 PRO or PlayStation 5, and even the luxurious and VIP trip to Paris Saint-Germain to attend 2 days of matches. We definitely recommend checking out the promotional page on the official website of the broker on a regular basis, in order to not miss out on rare opportunities to get rewarded for your trading success.