HotForex.com Review Visit site

Updated: Feb 24, 2020
3.784 · 480 REVIEWS
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Part of HF Markets. Other websites include HFEU.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.

About HotForex.com

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.

HotForex.com

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:1000:1
Minimum to Open Live:$5
Established:2010
Address:Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, Saint Vincent And Grenadines
Contact:support@hotforex.com, +44-2033185978
Regional offices:
Regulators: CySEC #183/12, FSC Mauritius #C110008214 , SVGFSA #22747 IBC 2015, FSA-S #SD015, FSCA #46632, DFSA # F004885
Prohibited countries:
Trading platforms:MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies:(45+)
Cryptocurrencies:(5+) Bitcoin, Litecoin, Ethereum
CFD:(5+) Gold, Silver, Stocks, Stock Indexes, Bonds, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
PAMM: Yes
Deposit Methods:Bank Wire, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney
Withdrawal Methods:Bank Wire, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney

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3.784 · 480 REVIEWS
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Consumer Reviews

Philip Da,
Philippines, Philippines,
Feb 6, 2020,
Guest

Good Start

Service use: Live

Length of use: 6-12 Months

My last withdrawal was on December of last year, a total of close to 2000 for the 4th quarter of last year which was enough for the holiday season, I doing this review based on personal experience of close to 1 year trading a live account with hotforex, I do have other accounts with other brokers but my main trading is done on their mt4.

Over all the broker is trust worthy and I do know of others I work with that also trade with this broker and they seem to be doing fine. Platform options are standard they do offer a bunch, spreads are reasonable and I can say they are the lowest but they do work fine for scalping. I like their commitment to withdrawal time and they are spot on, never had an issue with withdrawal.

They do not cater services to US traders I believe, but they are quiet popular in south east asia. Just to be fair I cant say this broker is perfect but from a traders perspective they do get the job done, I wish they had more or physical presence in the region, that would help a lot.

Anyway Im planning my next withdrawal around next month hopefully 2020 is good year for all of us.
 
FLN, Brazil,
Feb 3, 2020,
Registered user

High spreads and long processing times for withdrawals

Service use: Live

Length of use: 6-12 Months

After live trading for several months I had no major issues with this broker. However decided to move my funds to another broker mainly due to high spreads. For example EURNZD has an average spread of more than 6 pips on HotForex, while my other two brokers have 1.1 and 0.5 average spread on the same pair.
Apart from spread, I requested a Bitcoin withdraw which will only be processed the next day, and it will take up to 3 business days for the funds to be credited in my wallet. Anyone with minimum cryptocurrency knowledge knows that 4 days in total is an absolutely unacceptable deadline, when these transactions are processed instantly.
  1 trader has found this review helpful
wiseman jacobs,
Johannesburg, South Africa,
Feb 3, 2020,
Guest

stay away from these scammers

Service use: Live

Length of use: over 1 Year

You got a better chance at the casino then with hotforex... If you are a profitable trader then they will do everything they can to make sure you lose all your money.

They are very underhanded and dirty.

Are there no reliable brokers out there?

Hotforex did me dirty and i just thought i should share a review of my experience with this broker to make others aware of what they are walking into.

Otherwise I'll be looking for another broker, tired of these scammers.

This broker must be reported to the relevant authorities.
 
Port Harcourt, Nigeria,
Jan 30, 2020,
Registered user

Freezing their MT4's whenever in profit

Service use: Live

Length of use: 0-3 Months

I wish there were zero stars review for this company, I would have given them that. Whenever I'm in huge profits they freeze their MT4, refuse move SL to break even etc. Worst broker ever and I'm surprised they still got many likes after scamming people.
  1 trader has found this review helpful
Khanh Quang,
Ho Chi Minh, Viet Nam,
Jan 20, 2020,
Guest

10 years broker, decent to trade with

Service use: Live

Length of use: over 1 Year

A friend introduced me to try HotForex about 2 years ago. Before that, I know Forex only a little. After opening demo and exploded dozen accounts, I decided to open a real account with this broker, it's a Premium one with no commission. This broker has wide asset and currency choices to choose for trading. It also supports MT4/MT5 and mobile trading. I lost for a year and made some profits and withdrew for a few times in 2019, they always process your withdrawal requests in 24 hours or lessen without any hassle. According to my research, this broker has been operating from 2010, so I trusted it and last 2 years I don't encounter any critical issues. I can recommend this broker to any new trader.
 
Nigeria,
waffi, Nigeria,
Jan 20, 2020,
Guest

They make your winnings small and your loss big.

Service use: Live

Length of use: 6-12 Months

Kindly do not use this broker they manipulate u. You will find it difficult to win trades if you continue using them. They will cut your wins or increase your loss either ways you will not win as much as you ought to and you will lose as my as you ought not to lose. I set an instant execution with hot forex and i noticed on my other account with another broker it was already in profit but in huge lose in hotforex broking platform. My instant execution wasnt executed immediately it was executed as though it was a buy order and meanwhile i was running at losS. Price has to reach 100 pips before my instant execution is filled by then price has reversed against me.
 
Nick M,
Philippines, Philippines,
Nov 27, 2019,
Guest

seven months of live trading.

Service use: Live

Length of use: 6-12 Months

over all experience is actually good. But on a personal note here are a couple of points to consider, the broker is well regulated with multiple regulatory bodies depending on what region you are from, popular in southeast asia, africa and mostly eastern europe. In terms of trading environment pretty much good execution, acceptable/manageable spreads, a wide variety of pairs to trade including crypto currencies. Funding does offer a multiple options both in deposits and withdrawal, one thing to note is to make sure account is fully verified before any deposit is made, withdrawal options varies from an in house debit card option, bank wire and most popular i would say are third party ewallets such as skrill and neteller. I use Skrill and it can be processed the next day or up to 48 hours. There is the usual bonuses and contests going every now and then, though i try to focus on my trading more.
Conclusion: Hotforex is a decent broker, might not be perfect but they do get the job done as far as providing the services needed to traded forex.
 
amman, Jordan,
Sep 18, 2019,
Registered user

an old exprince since 2014 lost over 20k

Service use: Live

they have false scam pam acounts that made me and other 23 traders lose over 23k in 4 hours

Jan 16, 2017 - 1 Star after one year of trying to get som of 27k loses from hotforex company they kicked me out and took 53 active affiliates accounts with no reasonable reson
  4 traders have found this review helpful
Naeem Zaman,
Rawalpindi, Pakistan,
Sep 4, 2019,
Guest

Hotforex broker is a decent broker

Service use: Live

Length of use: over 1 Year

Hotforex broker is a decent one in my opinion because i have experienced a lot of improvements since i started trading with this broker. Overall my trading involvement includes around three years of using micro account. It comes up with good leverage amount although there are also many other account types too. I am using MT4 which is very responsive platform. What i enjoys a lot is the spreads which are easy to reconcile against profits.
  1 trader has found this review helpful
Gia Khoi,
Ho Chi Minh, Viet Nam,
Sep 4, 2019,
Guest

Popular and credible broker

Service use: Live

Length of use: over 1 Year

I know this broker several years ago and they have been pretty popular and have established a good reputation over time. I have traded this broker for close to two years now and have suggested it to my colleagues. A few quick notes, they offer multiple account types and services, it can be over whelming for new comers. Try to understand the bonuses first before acquiring, i still see many misunderstand how bonuses work. An advantage is crypto payment offered, many can benefit from it. Another thing is regulations, they are regulated by many depending what region you are in just be sure to ask about it if you are a bit picky, on last reminder is to make sure you are fully verified before doing live money transactions, its a rule of thumb with many brokers and they can be strict with documents which is expected. Over all they are good with a good variety of pairs to choose from.
  1 trader has found this review helpful