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

uganu valentino junior,
sabah, Malaysia,
Apr 10, 2016,
Guest

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.
 
Liu King,
Wuhan, China,
Feb 15, 2016,
Guest

Trading with Hotforex for more than one year, it doing well until now, withdrawal always be executed on time, low spread mostly. Recently they update to MT4 web terminal, that's really convenient for my trading, so just hope improve my trading skill and have a profitable 2016. I encourage some local Chinese traders to try it as well. good broker.
 
Desmond,
, Singapore,
Feb 10, 2016,
Guest

Beware of bonus promotion like 100% supercharged bonus. Bonus amount can be removed without prior notice when the equity reached the level of the bonus. And once the bonus are removed, all positions are likely to be stopped out.

I lost my whole account of over $10k this way! I would not have lost the whole account if I was not stopped out suddenly with no warning of bonus removal by a broker who disregard client's interest.
 
Anna C,
Warsaw, Poland,
Jan 27, 2016,
Guest

About 6 years with hotforex, I had expirience with many brokers but with this broker never problem. Really happy trading using Hotforex
 
the9tailedforextrader,
krugersdorp, South Africa,
Jan 20, 2016,
Guest

hotforex is my number 1 broker followed by fxcc, cm trading and pepperstone
 
Dulaluddin,
Kushtia, Bangladesh,
Jan 19, 2016,
Guest

I m Hotforex client from Bangladesh.When i face any issue , their Bangladeshi team help me almost anytime at 24hours. They are very good at their responsibility. I am happy with hotforex Bangladesh team and wish them good luck.
 
Jessie Mindoza,
Philippines, Philippines,
Jan 15, 2016,
Guest

results is all that matters, good trading environment, good response from mt4, execution is good though I would say it can be better. withdrawals are on time or earlier, except one time I had to update some documents which I find reassuring. over all, 2015 was a good year for trading and I hope this year would be better.
 
Kimi Siow,
Shanghai, China,
Jan 12, 2016,
Guest

I use HotForex for almost 3 years, especially now I am in Shanghai. I intro couple of my Chinese friend as well because a lot of terrible so-called regulated broker with very high spreads. And of course, I earned some money not only by trading, by intro some of my friends as well. Their commission paid twice a week, always on time. If commission paid with such accuracy, no doubt my profit withdrawal as well.

I am curious why someone will say that they freeze and I never occur such problem even I am using it in China and everybody knows that China itself have the "Great Fire Wall" here. Not sure about web trader, but using HotForex MT4 here in China definitely have better result than some other foreign broker in China.
 
Stefano,
Milano, Italy,
Jan 9, 2016,
Guest

I used hotforex for 10 month but my experience was really terrible :
1)the prices , by web trader , have delay and sometimes doesn't close automatically trade position ( stop loss or take profit ).
2) MT4 was often disconnected ;
3) for any problem it is impossible to speak by telephone with account manager .

if your goal is get good bonus and lose money ASAP , choice HotForex .
If you want serious broker for serious trading , stay away from this Broker
 
Nikolai Savelyev,
Moscow, Russian Federation,
Jan 7, 2016,
Guest

Opened account and applied for 100% SuperCharged Bonus, it was credited instantly after first deposit. Its really comfortable rebate scheme for me as I’m high-frequency scalper and min lot size is 50 000 units so basically I’m getting lowered spreads and can’t see any drawbacks from this method. Though max cumulative rebate is limited to 8000$ it means 4000 lots and I made only around 250 for last two months. 
Other pros in trading with HF is speedy execution low server latency so I don’t need VPS for EA and run it directly from PC. Customer support is responsive and client-friendly so I rate them 5.
 

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.