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Updated: Jun 2, 2020
3.769 · 493 REVIEWS
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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 MT5 trading currency platforms. offers over 45 currency pairs, cryptocurrencies including bitcoin, indices, shares, bonds, gold, silver, energies, commodities and cfds for your personal investment and trading options.

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:1000:1
Minimum to Open Live:$5
Address:Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, Saint Vincent And Grenadines, +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
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
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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3.769 · 493 REVIEWS
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Consumer Reviews

singapore, Singapore,
Oct 3, 2015,

I'm with Hotforex since 2013. They are good brokers. At times there are slippage. Which broker doesn't have? But overall my experience with them is good. Withdrawal and deposits are easy via credit card. Withdrawal just take 3 days. Within 3 days the funds are in your account. Customer support is excellent. They will respond to you within hours.
amr shahin,
cairo, Egypt,
Sep 29, 2015,

i would like to say that i recieved my money today on my bank account through wire transfer.

2015-09-10 4Star update now i recieved my120 usd back in my account and the support agent been truely helpful with me and i decieded that i would like to withdraw my120 usd through bank wire and i told them that so and they responed that they will cover the bank fees from their side and there wont be any dedution from the orignal amount of money which are 120 usd.

i will keep you updated guys

2015-09-09 No Rating update

one of the support department just called me and aplogized for this mess and told me to choose the payment method that i would prefer so i can recieve my120 usd back either by neteller or webmoney or skrill moneybooker , so i told him i will search today and see what suits me the best and i will call them tomorrow in the morning and tell them the payment method i prefer.

i will keep you updated guys as i promised

2015-09-08 1Star my account number is 164057

i did a 5 withdraws with a total amount of 120 USD i did a withdraw on august 11 with an amount of 5 usd and i recieved a conformation email from hotforex that the 5 usd will be refunded with 5-10 business days, on august 12 i did a withdraw with 90 usd also got the conformation email from hotforex on august 12 that the 90 usd will be refunded with 5- 10 businuess days,on august 13 i did a withdraw on with 10 USD and got an email from hotforex that the 10 usd will be refunded through 5-10 working days, on august 14 i did a withdraw with 5 usd then i did a withdraw with 10 usd on same day and got the comformation email from hotforex that the amount of 10 usd and 5 usd will be refunded with 5 - 10 business days.

so at the moment i still didnt receive a penny from of my 120 usd withdraw and 28 days have passed and still struggling with the company to get my money back or even get a proper support!

they asked for a bank statement on my prepaid mastercard and i issued one which wasn't easy to get from the bank but i got itafter spending over an hour in bank and of course it confirmes that no refunds from 'hotforex' has been recieved on my prepiad master card.

so today one of the support team not from the withdrawal team called me and telling me to wait for september 14, so when i asked him why exactly september 14 he told so it could one month since the withdraw order been made which is a total of nonsense. beacuse i did my first withdraw on july 11 and still didn't recieve my refunds. Then he told me to get another bank statment on this day which i stated before it was very hard to issue last time plus he told me that the withdrawal department asks me to remove the Complaint i reported to the bank that a refunds equal a total amount of 120 usd aren't recievd from the company/merchant "hotforex mauritius london' so with their unreasonable and illogical thinking!!! they are asking me to remove the report i flaged to bank and tell the bank to stop investgiting on this stituion while i still didnt recieve a single penny of my refunds, what kind of logic is that ?!!!

i will keep you updated everday guys
Colombo, Sri Lanka,
Sep 13, 2015,

They are Stop Loss Hunters.. I have an experience with them. When I was in a trade that was on lost, finally I decided a stop loss limit. Then placed it. Just after few minutes the price went up just below the Stop loss level. I checked that with few other MT4 platforms of other brokers and live chart web sites too. The closing price was just below my stop loss value. But only Hot Forex has run up and eat up my stop loss margin and closed my deal. No any other broker has exceeded my stop loss level. Only Hot Forex did.
Adrian Constantin,
Suceava, Romania,
Sep 7, 2015,

Huge stop loss hunters, price manipulators and your spreads will be far bigger than what they claim, just put the ASK on your charts and you'll see
Sajjad khan sun ,
Dhaka , Bangladesh,
Sep 6, 2015,

I use their zero account and it's good though their commission is bit high. Everything is good about them except withdrawal time. Which usually they takes more time then they said.
Li Jie,
Shanghai, China,
Sep 2, 2015,

Shanghai stock composite index very good innovation,sometime i like spread very much. China liquidity is very good and no price gap in London session. Other service are good.
rafat darwish,
jordan, Jordan,
Aug 25, 2015,

false informtions, no instant deposits, unsecured pamm acounts, unsecure wallet and after tow years from providing customers to them they kcicked me out cuz i asked for my own money which i lost cuz of their entire false lagging system
Sarwar Halim,
Dhaka, Bangladesh,
Aug 20, 2015,

In Bangladesh recently Hotforex open their education center.I m very happy with their service.They are helping me even after the office hour.Their behave is very nice.I dont know about other branch but i m satisfied with Bangladesh service. Every week getting training if i need.Moreover their platform is very fast.One problem Swap free account only for 7 days.I will request to extend this .As a muslim i m facing problem on this.
I wish best of luck for them.
Bheverlyn Santiago,
Las Pinas, Philippines,
Aug 12, 2015,

I’m writing this review after 3 months of trading with Hotforex. I opened micro account with them spreads are good on some pairs on others are a bit high so check before starting to trade with them. In regard to platform and execution - no price gaps or platform freezes noticed, but making entry on 40-50 or more pip candle you may get 1-2 pip slippage so I’d advice to avoid trading in times of volatility.  Connection ping is 40ms what’s much better than with other platforms (around 55-60ms), MT4 connects to the server with lowest ping what’s also a plus. 
The site’s design looks a bit obsolete and old but I get used to it after a couple of weeks as it have all necessary features. Fund management inside broker is pretty easy and comfy you can segregate trading balance and broker funds (called MyWallet) and keep them separated withdrawing and topping up instantly.  First withdrawal were made two weeks ago, no words, it was processed the same day. Hope they will retain that tradition for future. 
My overall mark is 4 they have plenty ways to improve. Will keep account there as a secondary to place some hedging trades.
Tariq khan,
Multan, Pakistan,
Aug 4, 2015,

First point seems to be valid below. You can't place order between bid and ask price and also orders can't be placed one minute before news. Thats not true behaviour of ecn/sto broker.
And rather market maker.
Will appreciate if hotforex representative come out and explain it.

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:

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:

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.