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HotForex.com Review Visit site

Updated: Aug 20, 2018
3.824 · 445 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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3.824 · 445 REVIEWS
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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.
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
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...
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.
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.
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.
Ho Chi Minh, Viet Nam,
Jul 10, 2018,
Guest

Decent broker in years

I started my trading career with several local brokers from 2016 and I knew this broker through a seminar. This is my first international broker, hence I was stuck with funding and verification process because of lacking essential documents, finally it's resolved but you should prepare ID card and an utility bill or bank statement before opening account with this broker for verification. This broker offers various account types from variable - fixed spreads. The spread on major pairs are pretty good on both account types but the spreads are only acceptable on exotic ones. Regarding payment, funding is processed instantly and withdrawal normally is processed under 24 hours (depends on your payment method and your request time). So far I have traded with hotforex around 2 years and no critical issue occured except you can face delay execution in volatile condition markets. If you are looking a reliable broker that requires initial fund under $200 then this should be the one you are looking for!
Warri, Delta State, Nigeria,
Jul 8, 2018,
Registered user

I believe I have found broker I have been looking for. Having their office in Nigeria makes deposit so easy and transaction cost so low. They have fantastic support, both emails and chat line.
I have no rating for now, ( forgive me ) until I test their withdrawal.
Sharjah, United Arab Emirates,
Apr 25, 2018,
Guest

My total time trading live with this broker is three months, so far so good.

I registered account with them as my secondary broker. Well, here is the conclusion of what i really had experienced.

Support is responsive and answer very clearly.The broker does have a reputation for its been around for a while. In terms of trading, i can't say that they have the best spreads but its manageable and fine even when you are scalping. Platform responsiveness is good too and i would give it 8/10. Withdrawals does get processed within the given time frame, i got mine with in 24 hours. My total time trading live with this broker is three months, so far so good.
Burj Nahar, United Arab Emirates,
Apr 17, 2018,
Guest

Great credible broker

I am new to this broker however not new with the trading world. Previously traded with ADS and many others. Just opened account with this broker a few months ago. The started capital was very limited almost 1000 but the trading results are quite miraculous. The capital is now more than 3000 which is more enough for me to rely upon this broker. Oh, I forgot to mention that the withdrawal amount is not included in this balance coz this is my final account balance. The trading spreads are fair enough in my opinion, the execution is really fast and orders are accepted on the same time. TP and SL also works fine. Withdrawal that I have made so far was processed conveniently and this was the point where I became more confident about this broker's credibility. I am rating four stars for now and let's see if they allow me to earn more in future. I am really happy upon finding such a great broker.