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HotForex.com Review MT4 - MetaTrader Platform

Overall Rating: (3.846)
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Total Reviews: 405
Last Updated: 2016-05-26
Description:

Hot Forex are forex brokers. HotForex offers the MetaTrader 4, MT Mobile, and WebTrader forex trading top platforms. HotForex.com offers over 8 currency pairs, cfds, metals, oil, indices, and shares for your personal investment and trading options.

Special Notes:

HotForex's representative requests that anyone having issues please include the account number in the review.  This should result in many issues being addressed more quickly.

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2010-07-28
Review: We haven't tried a forex trading account with HotForex.com. If you've traded forex with this broker, please leave a review here.

Hohoho, Sydney, Australia

Rating:
Date of Post:2016-05-25
Review: Be careful with karaosmith@gmail.com which is supported by hot forex. This is my second bad experience with forex trading.

All my deposit has been wiped out in 1 night.

Behzad Bazian, Kuala Lumpur , Malaysia

Rating:
Date of Post:2016-05-18
Review: I have posted a review on 2016/05/10 regarding my experience with Hotforex. So following my previous post, I would like to mention that my withdrawal was completed and my profit has arrived.

2016-05-10 No Rating I have been trading with Hotforex for a few months now. At first, the customer service was really good and they used to solve my issues really fast. So, I decided to open an account with them.

However, unfortunately slowly things got weird after I traded a news which resulted in a bit over than 10k profit for me. Immediately, I received an email that my account has been flagged by their system and my bonus will be taken away. Well, my bonus got removed from my account with no explanation even though I emailed them. Following that, on the next day I traded with my usual strategy, but this time my positions was executed with no profit or lost. But, again i received an email from them that my leverage will be decreased from 1:400 fixed spread account to 1:100 without any explanation which I found very frustrating.

However, I carried on and did another trade with them and as I am a news trader I opened two positions following US-Unemployment rate and I experienced terrible slippage. In addition, it took more than 30 seconds for my position which was on profit to be closed. Anyway, my position ended up from positive 1000+ to negative 1840 hitting my stop-loss.
During these few months of trading, I have never experienced such a huge slippage and slow execution with them. Luckily I have recorded my trades and have it available.
I would be more than happy to give to anyone of you if you wish to have a look.
Now I am waiting on my withdrawal request, and the worst part is that they have sent me three emils so far cancelling all three of my withdrawal requests and in their last email they came up with this excuse that i need to submit my passport again as a proof of identity which i found very unnecessary. So I would like to tell all of you out there base on my experience that surly HotForex did not act as a true ECN broker and they are not happy with the clients those who profit.
I really hope i get my Money back from them and I don't wanna judge too early but my pervious withdrawal requests were completed immediately. Now my only choice is to wait.

I will keep ya all posted regarding my withdrawal request.

Charli, Moscow, Russian Federation

Rating:
Date of Post:2016-05-18
Review: Great broker for scalping, fill orders with pretty tight spreads on majors, I try to avoid Asian sessions, so don't know how good are spreads in this times. Had only 3-4 requotes in 200+ orders, what's very impressive for retail brokerage. Support is fast and qualified though I had only a couple of things to ask them about. Withdrawal fee on web-money is s bit high so I switched to skrill. Overall I'm pleased to trade with HF

MIssV, , Germany

Rating:
Date of Post:2016-05-15
Review: I have been trading with Hotforex for months and I have experienced that deposit and withdrawals got more difficult for me as European client since September 2015.
At that time they changed their deposit/withdrawal system by forcing Euro-clients to convert all amount into US dollars. This is probably due to the fact that their finances are not based in Europe.
This results for example in conversions fees and higher bank wire fees for withdrawals.
My experience:
I was charged with 40 € fees for a withdrawal of 2000 €
I was charged with high conversion fees for withdrawal on a neteller account, because the amount was converted from Euro to US dollars and then from US dollars to Euro
Depositing through "Sofort Banking" (which should be credited immediately) was credited to my account 2 working days after depositing

Ankit, Mumbai, India

Rating:
Date of Post:2016-04-26
Review: Trading since 2013 with them. Well, i would like to say that All the issues are always resolved quickly in this three year tour with them. My losses are always my part but whenever i placed the withdrawal requests, its completed on the same day and in the most convenient way. I don't know people says that we should not go long with Cysec brokers and all but still in past three years after seeing their behavior specially in resolving issues with their clients is the best customer support in comparison to others. I will keep update my withdrawals and other important things about them. I would like to give them 5 stars now. Thankyou HF Markets Ltd. Best Regards
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Minh Vu, HCM, Viet Nam

Rating:
Date of Post:2016-04-19
Review: Well, so far everything going smooth and I like the withdrawal speed most. Its arrived same day in my skrill account which is I like most. I would like to give them 4 stars now and will test them more to give 5 stars. Will update review soon as per experience.

2016-04-12 No Rating Came to this broker because its bonus program, hotforex offers various bonus programs and webinar regularly. I then deposit to start trading with Zero account type. Its spread in E/U pair was very low about 0.2 - 0.5 pip, gold is higher but not too much. Fast execution and no requotes. Totally satisfied with this broker.

Unicorn_Madness, , Netherlands

Rating:
Date of Post:2016-04-15
Review: People should be aware that reviews can be bought as a package. I don't believe any of the positive reviews here. First of all, HotForex has a Binary Options division as well. Dumb new traders don't know that Binary Option are BY DEFINITION a scam. Binary Options are no financial instrument. These fake/scam brokers make people think that Binary Options = trading. It is 100% gambling against the broker. Please don't be a stupid beginner and try to research the facts I mention first. So, no way that HotForex is a legit broker while their subsidiary is selling 100% fake made up financial product. I also noticed manipulation of trades on their BO division. Later on I studied HotForex as well and found many abnormal things happening. That is why I am certain I can not trust HotForex. Don't be stupid with your hard earned cash and first learn a bit about the realities of how this nasty Forex scene is working. My advice,... go with a broker which is NOT regulated by CySec or some offshore Island. Find a broker with good regulation. And don't rely on the awards brokers get from their friends. Most awards are given to brokers by their own friends or whatever. Unfortunately many new traders fall for these nasty manipulative things. I'm not evne refering to HotForex, but talking in general. It is painfull to hear quite often beginners end up being scammed by their broker.

Andrey. N, Russia, Pskov, Russian Federation

Rating:
Date of Post:2016-04-11
Review: Good broker, opened premium account with supercharged bonus, though I don't use it just receive rebates instantly. Execution is pretty fast during London spreads are narrow enough for scalping though I doubt they'll tolerate algorithm or similar kind of trading style. Know some hedge funds in Russia use their feed I think they are big enough to provide decent service. So for now I rate them 5

uganu valentino junior, sabah, Malaysia

Rating:
Date of Post:2016-04-10
Review: I have been using Hotforex for more than a year and have never met with any difficulty in dealing with this broker. However, I would like to seek assistance from Hotforex, I would like to inquire on what should I do in the case of if the debit card that I have used to fund my account is no longer available and I have made replacement for a new debit card. Please guide me through the procedure that I have to go through in order for me to make a withdrawal to the new debit card. My id is 105495. Please assist me in my predicament.
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