The Forex and CFD broker HotForex (a regulated company) is celebrating its 10th anniversary in 2020. Because of this, it is offering a brand new promotion in which the broker will be awarding $2,000,000 in cash prizes to all its clients. These rewards can be withdrawn without any restrictions.
From now until the end of 2020, HotForex customers can earn a monthly bonus of up to $3,000 each month. The bonus is granted in the form of interest on the free margin of the account (account money not used in any trade) of up to 2%. The money obtained in this offer can be used for trading purposes or can be withdrawn by any of the methods accepted by the broker.
To start receiving the monthly interest on free margin, the trader must complete a minimum transaction volume of 5 lots traded in Forex and CFD.
You can get more information about the company HotForex and its brokerage services in the following guide about this broker: Review of HotForex broker
The following table summarizes the characteristics of this promotion:
|Trading accounts accepted||Micro, Premium, Auto, Zero, Platinum and HFCopy trading accounts|
|Promotion period||Until the end of 2020|
|Maximum reward rate||2% on free margin|
|Maximum amount of earnings||No limits|
|Markets where the promotion applies||Forex and precious metals|
|Promotion earnings withdrawals||Available without restrictions|
|Minimum deposit required||$5000|
More information on this promotion of the broker HotForex in the following link:
The conditions of this promotion are indicated below:
Rules and conditions of the promotion for the tenth anniversary of HotForex
- It is a promotion available to all new and existing HotForex clients that meet the required conditions.
- The promotion only applies to free margin on Micro, Premium, Auto, Zero, Platinum and HFCopy trading accounts opened by the trader.
- Clients will be eligible to receive the monthly return on the free margin from the moment they complete a minimum transaction volume of 5 lots of Contracts For Difference (CFD) of Forex and precious metals in any month. Only positions open for more than 3 minutes are taken into account.
- In addition, the accumulated amount of free margin in all trader accounts must be at least $ 5000 each day.
- Free margin is calculated using the following formula: Free Margin = Equity – Used Margin – Bonus
- The return on free margin is calculated daily using the following formula: Return on free margin = Free margin (% return on free margin/100/365)
The following table shows the interest on the free margin according to the account balance and the trading volume:
|Free account margin||Less than 5 lots||From 5 to 100 lots||From 100 lots|
|From $5000 to $50000||No rewards||1% return on free margin||1.5% return on free margin|
|From $50000||No rewards||1.5% return on free margin||2.0% return on free margin|
- The earnings obtained through this promotion will be deposited monthly in the trader’s wallet at HotForex, during the first week of the subsequent month.
- The money obtained from the monthly interest paid on the free margin can be withdrawn without any restriction or used to trade in the markets offered by this broker.
- Deposits and withdrawals of funds can be made through different options, including bank transfers, electronic payment processors like Skrill, and cryptocurrencies such as BTC.
Example of the reward obtained in this promotion
Suppose a trader has an account with the broker HotForex and maintains a total balance of $15,000 on all his trading accounts.
Now let’s say that in a given month that trader completes a trading volume of 10 lots in Forex and precious metals and the free margin on a specific day is $8000, while the margin used in open trades is $7000.
Therefore, according to the formula and table showed above, the amount of return on free margin for that day is as follows: Return on free margin = $8000 (Free margin) * (1% rate of return on free margin/100/365) = $0.22 USD (Return on free margin)
HotForex is an online Forex and CFD broker that is regulated by bodies like CySEC from Cyprus. It is an ECN broker that offers various types of trading accounts, including Micro accounts and accounts with zero spreads. It also offers various types of trading platforms, such as MT4 and MT5. It stands out not only for the variety of its services but also because it allows its clients to open a trading account and operate with a minimum deposit of only $5. It offers solutions for traders of all profiles, including a PAMM account service and a copy-trading platform.
Other current promotions of this company are the following:
- A 100% credit bonus
- A 30% rescue bonus
- A 100% cash rebates bonus
You can obtain more information about this promotion and other HotForex services through the following link: