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HotForex.com Review Visit site

Updated: Oct 9, 2018
3.817 · 449 REVIEWS
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Part of HF Markets. Related sites include OptionTrade.com

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.

HotForex is a forex broker. Hot Forex offers the MT4 and Mobile trading currency platforms. HotForex.com offers over 45 currency pairs, cryptocurrencies including bitcoin, indices, shares, bonds, gold, silver, energies, commodities and cfds for your personal investment and trading options.

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3.817 · 449 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

madmen1988,
San Salvador, El Salvador,
Sep 27, 2018,
Registered user

Is a excellent Broker, but I think that he can be better if add Epayments as method of payment
Jason Lao,
Batangas, Philippines,
Sep 25, 2018,
Guest

Good work

hotforex is decent, after two withdrawals and 90days of live trading this is what i got. execution and platform are stable, fast and acceptable. threads are okay, scalping is doable, the addition of crypto is a major plus, from the looks of it its what the madket maybe leaning towards in the future, my last withdrawal amounting to usd1150 wasprocessed to my skrill in less than 48hous. level of security is very acceptable and yes theycan be strict with account verification which is good.
Billionaire_Mo,
South Africa,
Sep 14, 2018,
Registered user

Bad customer service

Worst customer service.
I tried to open a joint account here and the agents kept emailing me and calling me, asking for me to repeatedly submit the same documents (ID copy and proof of residence).

I sent them the same email about 3 times and would call to check if they have received the documents, Every-time I called the assistant said the documents are on the system and would be reviewed by the relevant department. 10 minutes later a different agent would call/email me asking me to submit the documents as if i never did before and every-time I would respond to their emails saying I have submitted the documents they would not respond to my emails.

Ended up closing the account
Littlepony,
Tambov, Russian Federation,
Aug 20, 2018,
Guest

Btcusd rocks!

Really really nice spreads on BTCUSD, one of the most tightest in industry. Checked dozens of them, some charge weird 120 bucks per BTC. Hotforex live BTCUSD spread is about 25 bucks, what is pretty tight and 1:5 margin as standard offer.

Catching falling knife on BTC became part of my routine, thanks various shocks from SEC and other regulators which promote heavy sell-off, although profitable for me as Hotforex allow short selling without coverage. Withdrawals requested in morning usually processed same day, though I prefer to use their card for ATM and purchases.

What I would really to see in HF is extended hours for weekend since other exchanges operate this days and I love tiny liquidity that times which create sharp 100+ spikes, i.e. easy profit for short sellers. Decreasing spreads or introducing fixed commission would be also appreaciated. Hope HF reps are here and read reviews and listen to their customers. AAA broker.
Mike Chong,
Makati, Philippines,
Aug 13, 2018,
Guest

Its working just fine

This is my take on my hotforex experience. I do use their services as a secondary broker with a decent sized account. Pls do note this is based on personal experience and by no means a standardized form with dealing with them. My account set up with most brokers I deal with (I do trade with 3 brokers) is simple, manual trading, mostly technical, widely around the USD pairs (USDJPY, AUDUSD, EURUSD etc). The broker is standard in terms of opening an account, documentations are required, account verification is a must before anything else, and for first time forex traders, do use demo. The platform is mt4, response time is good, not perfect but I would still say its good. spreads are not my favorite, they are good enough to allow scalping though that's a plus. modes of withdrawal are many, there is skrill neteller and other third party e-wallets, they do have their own hotforex debit card and there is the good old (not so popular) bank wire. withdrawals take up 48 hours and at times even faster except bank wire I think its 10 working days. total time spent using my hotforex account is roughly 2 years and its doing well.
Note: I have to reiterate, this is my trading we are talking about and on my end its pretty straight forward, simple and manageable. I can not talk for everyone else and to be honest some claims are out of this world.
asolorz182,
costarica, Costa Rica,
Aug 10, 2018,
Registered user

withdrawal scam

Hello friends I have a problem with hotforex withdrawal too

i requested a withdrawal for 417.52

the bank only received 337.52

the charged me a comission of $20

but hotforex is not giving me explanation on the missing $80

they are blamming it to the bank, which does not make sense the bank only received 337 what can i Do??

the only way to contact them is via email and they never reply, on the phone they say they have no info

Did i just lose $80 bucks like that??

help please
Midge,
somewhere here, Brunei Darussalam,
Aug 9, 2018,
Registered user

scam broker

Who give this broker 4 star..the most scam broker ever..dont trade with them..better open trade with other broker..stay away from them to save your money..go for a different broker..so far i have no problem asking to withdraw from any of the mentioned broker..HF not the same as they were before..they have turn to the dark side..RIP past HF...
Bushra,
Chakwal, Pakistan,
Aug 2, 2018,
Guest

Overall trading experience: Four years. Opened demo account with this broker in 2016 and live afterwards. No specific hurdles with verification, i got verified right after two days by submitting utility bill scanned copy and valid govt ID. Trade execution is stable even trades can be done during news with good spreads. Live chat on site is also a ready feature to discuss queries rather writing emails to support. Last but not the least they process withdrawal within as low as one business day(except wire transfer$). Hotforex is quite reliable and is highly recommended.
ericklhenares,
Philippines,
Jul 26, 2018,
Registered user

Account number 411753

This company has a thick face. Soooo difficuuuuuuult to ask for withdrawal. Its been 17 days already and they still haven't deposited it yet. Stating a lot of excuses. The amount is not even much.

The worst part is that if you are going to follow up for their failure to process withdrawal, they will ask for your bank statements and a lot of documents. INconveniencing us for their incompetence as a company.

It is very likely that they do not expect us to withdraw money after we deposited. This company is a blackhole of our money or Hotel California of deposits. Once you have deposited, it will be extremely difficult to withdraw.

It happened twice already.
jeremyctl,
Singapore, Singapore,
Jul 24, 2018,
Registered user

I had a situation where i thought Hotforex had charged me an additional amount of 300USD. I emailed my account manager but received no reply regarding this. I was very lucky i found that that it was an error on my part. I'm worried that what if it wasn't an error on my part and HF had really over charged me? Who can i reach out for help when my account manager is unresponsive?

Not saying HF is a scam now or what but i really hoping it wont go that way later.