Hotcoin Global Exchange

Hotcoin is an online cryptocurrency exchange platform launched in Australia in 2017.

The exchange is headquartered in Sydney, whereby the platform owner is the Hotcoin Global Exchange Pty Ltd. Company.

Hotcoin is still relatively a new player within the crypto exchange industry with a reported daily volume of 3.2 Bn USD, down from 4.8 Bn USD in February 2021.

The exchange allows users to buy, sell, trade, and even lend supported cryptocurrencies online without intermediaries by matching traders’ orders and price quotations.

In addition, the exchange is secure because it carries two different operating licenses for its digital currency and Forex trading from the Australian Transaction Reports and Analysis Centre (AUSTRAC). What separates Hotcoin from its competitors is that it is regulated and holds trading licenses from a renowned regulatory body.

The regulatory licenses put users at ease against anonymity and the risk of losing funds.

Hotcoin is genuinely a global online exchange whereby it is available to users from around the globe, except for countries blacklisted globally due to illicit activities.

Expressly, for the U.S., the exchange does not explicitly prohibit or mention any restrictions on region traders.

The Hotcoin Global Exchange, although global in terms of jurisdictions services, tends to be limited in terms of the languages supported which are limited to English, Korean, and Chinese.

The exchange currently supports more than 108 cryptocurrencies for trading.

Furthermore, the exchange is committed to securing user funds.

Hotcoin offers practical risk management tools, including protection against negative balances, free demo accounts, and instant price alerts.

Finally, Hotcoin holds an ISO Accreditation for security and Industry-leading security processes.

Is Hotcoin Global Exchange Limited To Expert Traders?

Hotcoin is a simple-to-use crypto-trading platform that grants access to any user, whether a novice or an expert trader who passes the KYC requirements.

The user-friendly platform of the exchange provides users with an intuitive and easy-to-navigate site coupled with educational resources and step-by-step guides.

The exchange also offers courses whereby new traders can get acquainted with the concepts of leverage and CFD trading to test throughout the demo accounts through the detailed Help Centre.

As for expert traders, Hotcoin also provides highly attractive products and up to 1:100 leverage, whereby the exchange has gained a reputation for being the go-to exchange to engage in leveraged trading, given the deep liquidity and efficient trading engine for clearing users’ trades.

Hotcoin facilities the registration and funding process to ensure that traders can capture critical moments in crypto trading without waiting for the KYC process to be finalized; albeit, it is always encouraged to finalize the KYC process before depositing any funds into the exchange.

Hotcoin provides advanced trading tools and derivative products that appeal to expert traders, such as options trading and futures trading.

In addition, Hotcoin has sparked considerable interest amongst U.S. traders recently, given that it is amongst the few exchanges that support U.S. traders, or those who do not explicitly refute traders from the region.

Pros & Cons Of Hotcoin


  • Responsive interface and easy to navigate website
  • Effortless registration and responsive team
  • Low withdrawal fees
  • Relatively low trading fees
  • Regulated by the AUSTRAC regulatory body in Australia


  • Lack of an exhaustive cryptocurrency list when compared to leading competitors
  • No referral program to benefit from extra rewards
  • Higher-end credit and debit deposit fees
  • A limited number of languages supported
  • Low trading liquidity for a handful of cryptocurrency pairs causing high trading slippage

Our Take On Hotcoin Global

Hotcoin creates the best of both worlds by being straightforward with an intuitive interface on one side and providing advanced trading options and complex charting options for more advanced traders.

However, being on the low end in terms of the number of cryptocurrencies offered, users must complete due diligence on the coins of interest to ensure that the exchange provides them.

In addition, many cryptocurrency pairs have been reported to have low liquidity in the order books, which causes high slippages and unfavorable order fills.

However, it is worth noting that the liquidity is very high for popular cryptocurrencies, and the trading engine fulfills trades swiftly and efficiently.

Another downside is that the exchange supports a limited number of languages.

Thus, non-English-speaking traders might have a hard time coping with the platform.

The exchange offers low withdrawal fees and zero deposit fees and supports fiat deposits and withdrawals.

Furthermore, Hotcoin is currently licensed in Australia by AUSTRAC. Thus, traders can feel at ease when engaging with the platform.

Our take is that the Hotcoin Global exchange is an excellent first step towards indulging in the world of cryptocurrency.

However, as more experienced traders develop advanced skill sets, a migration towards decentralized exchanges is encouraged.

Decentralized exchanges feature anonymity and offer on-chain trading through interacting with the blockchain, instead of off-chain trading, which is not backed entirely by the blockchain but instead handled by the centralized exchange internally.

Hotcoin Fees

Hotcoin Global is keen to compete with the saturated centralized exchanges by offering competing trading fees.

The exchange provides its brokerage services, besides taker and maker fees, and an online platform for free, aside from third-party fees.

Hotcoin provides:

  • Zero signup fees.
  • Zero inactivity fees.
  • Zero deposit.
  • Zero quote fees.
  • Zero added commissions.

Compared to global exchange leaders, it is immediately evident that Hotcoin ranks significantly lower in terms of fees.

Hotcoin fees start at a maker fee of 0.20% and a taker fee of 0.20%, which refer to transaction fees that users incur when orders are placed and filled.

In comparison, Binance charges respective fees of 0.10% for each.

Below is a deep dive into the critical highlights of OKX exchange fees:

Deposit Fee StructureFiat DepositCrypto Deposit
FeesDepends on Third-Party merchantFree
Withdrawal Fee StructureFiat WithdrawalCrypto Withdrawal
FeesDepends on Third-Party merchantSmall fee

Is Hotcoin Global Safe?

Users should feel at ease when dealing with Hotcoin regarding the security of funds against exchange bankruptcy or illicit activity.

Furthermore, users should feel at ease when dealing with the exchange, given the Australian regulatory body’s high caliber of trading licenses.

The exchange is secure because it carries two different operating permits for its digital currency and Forex trading from the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Furthermore, the exchange is committed to securing user funds. Hotcoin offers practical risk management tools, including protection against negative balances, free demo accounts, and instant price alerts.

Finally, Hotcoin holds an ISO Accreditation for security and Industry-leading security processes.

Hotcoin also offers users two-factor authentication (2FA) to add a security layer to protect against unauthorized access to user accounts.

In terms of security of user assets, Hotcoin is fully compliant with Payment Card Industry (PCI) Data Security Standards, which refer to protection against data spoofing to protect user information in real time and in backup data storage systems.

In addition, the exchange has never been breached before, thanks to its secure communication protocols to prevent online attacks.

However, similar to a centralized exchange, Hotcoin should only be utilized to benefit from deep liquidity, trading derivative products, and as a bridge between fiat money and cryptocurrencies, users should opt for a decentralized exchange to host the bulk of their funds.

Trading Options

Hotcoin exchange offers a wide selection of trading options divided mainly into over-the-counter (OTC) crypto-conversions (spot market) and derivatives products.

Transacting within the futures market, a sub-product of derivatives, features multiple order types, including market orders, limits orders, stop-limit orders, trailing stop orders, and margin trading.

In addition, Hotcoin provides two kinds of leverage trading that users can access margin and futures trading.

The exchange also provides users with one-click trading whereby more than 100 market instruments can be accessed from one place whereby.

It removes the need to sign up for various exchanges for each asset class. Additionally, users from Australia under the category of Super Fund Investors can enjoy access to the specific OTC with discounted rates and a faster execution desk.

All popular cryptocurrencies and associated trading pairs carry deep liquidity from the exchange’s liquidity partners and in-house liquidity to allow users to benefit from swift trade execution and accurate price quotes that can be filled instantly, even during market volatility.

Banking At Hotcoin

Deposit and withdrawal options vary by currency. For example, USD deposits and withdrawals are only allowed through Bank Transfers utilizing Signet or SWIFT, as opposed to EURO deposits and withdrawals, which permit Visa and Mastercard Bank Cards.

Furthermore, restrictions on currency deposit and withdrawal options and fees are constantly updated.

Thus, users are advised to regularly check the related documentation on the Hotcoin website.

Funds can be deposited or withdrawn via a range of international methods, including but not limited to a debit card, credit card, bank wire transfer, Webmoney, Multibanco, Apple Pay, etc. On top of that, Hotcoin lacks the offering of Banking-like services, which often include Crypto Visa Card and crypto savings accounts.

Additionally, Hotcoin has been viewed to lack yield generation products and mining pools integrations that experienced crypto traders often seek.

Hotcoin App Experience

Hotcoin offers a variety of trading tools with high accessibility to ensure users can stay updated with market data, whereby users can view their portfolio and place trades through the browser, mobile browser, desktop app, iOS app, and Android app.

Unfortunately, the Hotcoin iOS app, which can be downloaded from the Apple Store, has been removed from various countries for unknown reasons.

In contrast, the Android app, which can be downloaded from the Android Store, is currently not rated enough to showcase a score.

However, both apps share the same functionality and user interface as its counterpart.

Links for downloading the respective mobile apps can be found on the official website.

Users have viewed the exchange’s mobile app as being intuitive, fast, and easy to navigate, thus fulfilling any trader’s needs on the go.

Users can perform everything the exchange offers from the mobile app, including but not limited to complex technical analysis, advanced charting, market insights, and research, in addition to swift trading and portfolio management.

The app provides a range of login options, including email and password combination, phone number and password combination, touch ID and face ID login options, Apple login option, and two-factor authentication (2FA) for enhanced security.

In addition, users are asked to complete a slide CAPTCHA to fight against bots clogging the network to ensure a seamless experience for real users.

Hotcoin Site Experience

The Hotcoin dashboard is extensive but focuses on being straightforward to ensure actions can be taken swiftly by traders.

Users can access the dashboard through a compatible desktop browser simply by logging in to the designated profile.

The browser site focuses on light colors as has been explained by the exchange to ensure a calm environment for traders to engage.

The dashboard allows users to view portfolio balance by cryptocurrency, chart and import charting tools, access market analysis and trends, review current and past trade history, and engage in cryptocurrency trading.

In addition, users can access deposit and withdrawal options by navigating to the Wallet section and selecting the fiat or cryptocurrency to deposit or withdraw by following the on-screen guide.

Users do not have to download any software or portal to their computers. Users can utilize the clear layout with light colors or the more modern design with dark colors.

The platform is equipped with seamless multi-chart toggling, whereby users can open multiple charts for multiple instruments simultaneously.

In addition, the exchange offers charts that are easy to navigate, whereby users can change the chart structure from candlestick, bar, area, Heikin-Ashi, line charts, etc.

Users can access their accounts from the supported browsers after entering their login details, and the user enables two-factor authentication (2FA).

Compared to prominent competitors, the Hotcoin exchange website feels modern and properly designed and is packed with advanced tools.

The platform is both intuitive and provides high-end functionalities.

Registration Process

Users need to register to a free trading account, whereby the account is linked to an email address and a password.

To complete the registration, users need to complete the Know Your Customer (KYC) process. Once the account is verified, users can fund their accounts using credit cards, debit cards, bank wire transfers, ApplePay, Webmoney, and Giropay.

Hotcoin is a centralized exchange and thus requires traders to complete a country-specific KYC application.

In addition to a specific set of the required information, Hotcoin may require users to complete a real-time identity verification which involves uploading a selfie and completing a facial recognition task.

The information necessary for KYC registration are:

  • Full name as reflected in identity documents
  • Permanent address
  • Date of birth
  • Nationality
  • Contact information
  • Email address

ID Verification Documents:

  • Government Issued ID-Card
  • Social Security Number
  • Driver’s License
  • Passport
  • Pan Card
  • ID Card

Proof of Residence Documents:

  • Landline telephone bill
  • Bank statement
  • Mortgage statement
  • Government-issued documents
  • Municipal rates & taxes statement
  • Municipality bill for utility services
  • Internet service bill

Hotcoin Global Restrictions

In terms of territory access and jurisdictions, Hotcoin is genuinely a global online exchange whereby it is available to users from around the globe, except for countries blacklisted globally due to illicit activities.

Expressly, for the U.S., the exchange does not explicitly prohibit or mention any restrictions on region traders.

Users should always be wary of the updated banned countries list to ensure that no bans are in place under the users’ jurisdiction.

Users are encouraged not to store their entire portfolio within a centralized exchange and utilize decentralized exchanges.

Hotcoin Customer Service

The exchange provides a top-notch professional level of customer support, available 24/7 via live chat, email, phone, Telegram, WhatsApp, Viber, and Facebook.

In addition, the exchange focuses on being truly global in terms of countries and jurisdictions currently being served.

However, the chat and the overall site language are currently limited to three languages which are English, Korean, and Chinese.

Thus, the exchange should clearly prioritize employing a customer service team that can communicate with clients in a myriad of languages which include but are not limited to English, Italian, Spanish, French, German, Arabic, Turkish, and Russian. Below are the key takeaways from the support provided:

  • Basic support across social media, including Twitter, Facebook, Instagram, etc.
  • Live support chat via telegram channel, Facebook Messenger, Whatsapp, browser chat, and Viber
  • Live chat support through the website in English, Korean, and Chinese
  • Fair-sized library of support articles and educational guides