HotForex Review

3.739 · 508 REVIEWS

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Updated: Jan 18, 2021 · HotForex.com  · Is this your company?

HotForex is a forex broker. Hot Forex offers the MT4 and MT5 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
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.

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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3.739 · 508 REVIEWS
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Traders Reviews

Asmat Ullah,
Peshawar, Pakistan,
Jan 22, 2017,
Guest

So far I am trading in my part time, I am running a small account with this broker. The returns that I have made so far are average but still seems far better than the returns I am earning from other investment avenues. I am trading on hotforex platform for the past one year and I am more than satisfied so far.
 
Andy Dinh,
HCM, Viet Nam,
Jan 20, 2017,
Guest

Good

Good broker, I have traded for 2 years! I opened a premium account in 2015 with supercharged bonus, I don't use the bonus amount but the rebates is really worthy, not too much but consistent whenever I traded. My withdrawals are always processed in 24 hours, some could be in same day. You can also contact Local Manager through the website and most problems could be resolved faster.
 
Ivan,
Moscow, Russian Federation,
Dec 27, 2016,
Guest

Decent broker, good in all aspects.

After FCA and CySEC applied leverage restrictions I switched to Hotforex cuz my news trading strategy requires high leverage. From the good side to mention is helpful support and qualified support with fast responses, very flexible account setup where I plan to try zero spread and then fixed spread accounts. On the execution side, my 3 week experience had no lags or freezes during volatility, although Hotforex handles trades well during low-liquid Asian session on cross-pairs with less spread widening I've seen with other brokers. No experience with withdrawals yet as I'm planning to develop and build my account to keep trading with at least 1 lot size, 40 pips SL, risking on each trade 2% from the balance (so I plan to grow it to 20K). Currently my I have 8K in my account risking 3-4% per trade.
Overall its pleasure to trade with this broker also you need to fully understand both positive and adverse effects of the leverage which definitely takes time for a newbie.
My rate is 4.5 from 5.
 
Allan L,
San Pedro, Philippines,
Dec 22, 2016,
Guest

I started trading in 2014 by opening a demo account with this broker, hotforex. It was my friends' recommendation who were already looking bright potential in forex trading. So I also decided to take part in this money making process by trading with the help of the tips that they were usually exchanging with each other. However, it really took me a long way then the rest to learn the overall trading process.
In the meantime, while trading demo account, I spent a few month practicing it and learning other forex processes which were required to earn money through this whole trading cycle. In these first months of my learning process, I deposited few bucks in my live account also but I haven't had any success because unfortunately all of that deposit wiped out.
Starting from Jan 2015, I got some confidence taking another chance to trade forex, so with a minimum of $ 1K deposit I started again and this time I become successful. It took me more than one month to initiate my first profit withdrawal, because some of my trades also become bad beside positive trades. However, this first withdrawal experience wasn't bad as it was transferred into my bank account within the time specified by them.
I learned every single process with spending my time on watching videos, learning from forums, attending webinars, reading news sites and asking my friends to recommend any healthy tip. I also want to admit that hotforex has also helped me in building up my trading career. They timely processed my deposits and withdrawals. They have sufficient trading pairs, commodities etc to trade. The spreads are low, bonus and leverage that we can use are also reasonable with no specific terms. I am glad to have an account with them and my overall account with them is now purely based on the profit amount.
 
Bangkok, Thailand,
Dec 19, 2016,
Registered user

Hotforex very bad

For honest i hate this broker, is impossible make money, another thing how is possible verified document every 3 month, and for withdraw is same need ask pity for withdraw you own money you own risk you own job.

i understand need follow rules, but when is too much is very bad, but i not crying lol i am happy i have ask close my account and refund my money or i deposit complaint, this company need know is not because have new customer is directly noob !!!!

I received my money without sent document or other, this company hidden something i am register more 24 broker i have more 70 real account with money and never i register again with this bad company.
 
New Zealand,
Dec 14, 2016,
Registered user

For a small trader that is in process of learning HF is terribly birocratic company to be in.
They check your document every 3 months (the same one) and that is after you deposit money . so they trap your money under excuse that you are not validate . And they toy around with you with requests of documents that you already sent them but they play dumb and ask them again .And if you say i sent every thing that you asked ? they just copy paste their email with the same request.
This is all for under 50 $ deposit?!
 
Suhaib ,
DG Khan, Pakistan,
Nov 11, 2016,
Guest

I opened live trading account with hotforex in September and had just withdrawn my first profit successfully. The overall broker impression is good and since I joined them I seldom found any issues to complain. Trading is easy with low spreads on major pairs. PS: I am trading regular account and it has decent leverage too.
 
Nigeria,
Nov 11, 2016,
Registered user

HotForex good work

Been trading with HotForex for months now and their services have been great. Great customer service, Good withdrawal process. Keep up the good work HotForex.

Oct 31, 2016 - 1 Star My account number is 275177. I have been trading with HotForex.com for the past few months and i made a withdrawal more than a week now. (A week and fee days). I made a deposit into my HotForex account with my verified neteller account and i'm asking HotForex to send back my money into the same neteller account i funded them with. That seems to be a problem. I opened my neteller account with my name OLUSEGUN OKEOWO and when I tried verifying my neteller, i had issues because all my documents carry SEGUN OKEOWO. I had to go to the court to sign an affidavit for correction of name before neteller was able to rectify the issue. To cut my story short, HotForex is asking me to provide documents carrying OLUSEGUN OKEOWO and I explained everything to them. Now my question for them is this... Why can't HotForex.com send my money back into the same neteller account i made a deposit with??? Below are some pictures of the mail i've sent to them.
 
Limassol, Cyprus,
Oct 18, 2016,
Registered user

Reliable broker

Hotforex is the best forex broker.I started trading with hotforex before three years ago.My experience from this broker is exellent.Fast execution and in withdrawals my money is in my bank in two days.The support from managers,Antreas,Stavros,Iro and from all staff is exellend and kindly. Cheers boys.
 
Nhat Nam,
Vietnam, Viet Nam,
Oct 2, 2016,
Guest

Fast support in resolving withdrawal issue

I encountered a withdrawal problem with hotforex, my Skrill email is not same with my hotforex email and they denied my withdrawal request. After contacting the CS, an employee explained to me and they agreed to change my hotforex email after I proved the the new Skrill email is mine. It's my experience but everything was done in day and the support was very dedicated in resolving my problem. It's a reliable broker!
 

Frequently Asked Questions

Is HotForex legit?

The the best way to answer if HotForex a legit broker is to read the unbiased traders reviews on ForexPeaceArmy: https://www.forexpeacearmy.com/forex-reviews/6884/hotforex-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we recommend that you check recent HotForex community discussions: https://www.forexpeacearmy.com/community/tags/hotforexcom/

What is the minimum deposit for HotForex?

To activate a live account on HotForex, the minimum initial deposit is $5 for a micro account.

Other Hot Forex account minimums vary by type, with most being in the $100-$250 range.

Is HotForex regulated?

HotForex is registered with the regulators in a number of countries. These include:

  • CYSEC in Cyprus
  • the FSC of Mauritius
  • the Seychelles FSA
  • the FSCA of South Africa
  • and the DFSA of the UAE
HotForex is also registered with the SVGFSA.

What is HotForex?

HotForex is a forex and commodities trading broker.

Hot Forex offers a wide range of currency pairs along with cryptocurrencies, stock indexes, precious metals, and other commodities.

How do I withdraw money from HotForex?

HotForex offers a variety of withdrawal methods, including:

  • Bank Wire
  • Credit Cards
  • Neteller
  • Skrill
  • FasaPay
  • VLoad
  • Webmoney
  • CryptoPayments
You can initiate a withdrawal by logging into the client area on the website.

How long does HotForex withdrawal take?

HotForex withdrawals submitted before 10:00 am server time are nearly always processed the same business day. Withdrawal later in the day are processed the next business day.

The time for a processed withdrawal to be received varies from nearly instant to as much as 10 days, depending on the withdrawal method.

How do I apply for a HotForex MasterCard?

HotForex does offer it's own MasterCard which allows you to easily withdraw your profits to the card.

Applications can be submitted directly from Hot Forex's website after your account is approved and funded.

Does HotForex allow hedging?

HotForex permits hedging as well as scalping, news trading, and the use of EAs.

How do I get a HotForex card?

Applications for the HotForex MasterCard debit card can be made directly from HotForex's website.

Once approved, it is mailed to you for free. With Hot Forex card, you can easily withdraw your funds directly to this card.

Is HotForex regulated in South Africa?

HotForex holds a license from the South African Financial Sector Conduct Authority (FSCA License #46632) in addition to other regulatory licenses from around the world.