The Forex and CFD broker HotForex, one of the most important in the sector, offers a copy trading service an account called Auto Account, which opens the world of financial markets like Forex even to novice investors with no knowledge on the market. Through Auto Account, investors have the opportunity to subscribe to free and paid trading signals from the MQL5 (Metatrader) community. This trading signals service is directly incorporated into the HotForex MT4 terminal (based on Metatrader 4), which facilitates the subscription, implementation and execution of trading signals.
Investors can automatically copy the signals from any signal provider (trader) belonging to the MQL5 community. In the case of traders who sell their trading signals, they undergo a 1 month monitoring and valuation process in order to check their performance.
As you will recall, HotForex has not had an automated trading service since the end of its relationship with Zulutrade, which certainly put the company at a disadvantage compared to its main competitors. For this reason, the company made the decision to create its trading copy service with the MQL5 community.
Investors with HotForex Auto Account accounts can subscribe to trading signals through Metatrader 4, WebTrader and any of the applications developed for mobile devices.
Advantages of the MQL5 Signal Service in HotForex
- The investor can choose from a wide variety of free and paid signal providers.
- The process of subscribing to trading signals is simple and fast.
- MQL5 and the application for the selection and implementation of trading signals are incorporated into the MT4 platform.
- Transactions (buy and sale trades) of the selected signal providers are copied automatically.
- There is no charge for commissions or hidden fees. For each trading signal provider, MQL5 provides up-to-date analytical performance data.
- Paid signal providers are monitored for 1 month to verify their performance.
- The cloud-based architecture of MQL5 reduces latency, ie the time in which trading signals are processed and sent to the investor platform for execution.
General features of HotForex Auto Account accounts
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Trading platforms
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MetaTrader 4, Webtrader and mobile devices platforms (based on Metatrader 4)
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Spreads
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From 1 pips onwards
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Trading instruments
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Forex, precious metals, CFD on commodties, indices and stocks
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Prices with 5 decimals
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Yes
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Maximum leverage
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1:400
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Type of execution
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Market execution
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Minimum account deposit
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500 USD
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Minimum trade size
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0.01 lotes
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Minimum increase in position size
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0.01
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Maximum trade size
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60 standard lots
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Maximum number of simultaneous open orders
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300
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Margin Call / Stop Out Level
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50% / 20%
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Phone trading
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Yes
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Account currency
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USD, EUR
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Personal account manager
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Yes
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Commissions
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No
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Deposit bonuses
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No
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How to open a HotForex Auto Account and sign up for MQL5 trading signals?
The steps to use this automated trading service of HoForex are as follows:
- Open an account with HotForex.
- Enter the user panel (myHotForex) and open a HotForex Auto Account trading account.
- Register in the MQL5 community. This can easily be done in the HotForex MT4 terminal as follows: Click on Tools> Options> Community> Register>
- After registering, the investor receives a confirmation email containing the MQL5 login key.
If you are interested in obtaining more information about the HotForex copytrading service and opening an Auto Account trading account, you can access the company page through the following link:
