HotForex Review

3.739 · 508 REVIEWS



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

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.

Part of HF Markets. Other websites include

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:, +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
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
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

Wang Huanjun,
Hangzhou, China,
Jan 6, 2016,

In general the broker does provide quality service, I don't think there is best broker, only good ones and bad, in terms of execution they do execute fast, servers are stable, withdrawal options are really good. Over all I think this broker is doing a good job, if there is something I would say avoid news trading if uncertain of how news trading is done especially the NFP release. there are tendencies of slippage and spread widening, but aside from that its all good.
bui thien luan ,
ho chi minh , Viet Nam,
Jan 6, 2016,

hotforex is scaming me about the fake swap for EUR/USD and USD/CHF , on 01/06/2016 i opened 2 orders : sell 0.5 lot eur/usd and sell 0.5 lot usd/chf, and during one day , on 01/07/2016 my swap is total -9.34 usd for 1 lot , it is verry wrong instead of -3.3 USD for total 1 lot , so now i don't believe about Hotforex , in the future i will open some live account at other broker better than
Nicos Laskari,
Thessaloniki, Greece,
Jan 5, 2016,

They have made good progress in recent years and any broker doing this means they are serious and I am doing some strategy testing on demo account and it is going good so far. I think there would not be a big difference in their live account trading.
, Costa Rica,
Jan 2, 2016,

like to mention as well that one account was advertised to have each month for one year 2-40% profits and in less than a week it went from very good to very bad...ZERO despite the so called Pamm Manager was convincingly saying that he is a conservative trader...
How about this, after he crashed one account he managed exactly the same account, trading the same pair which was mainly GOLD
and strange enough the account had the almost identically history and did not crash, asking Support about this, I got a generic email that trading contains risk .blah blah made me very happy to know..I recommend to stay away from their PAMM accounts entirely you never know who is really trading your account or if it is legit, or a setup

2015-12-25 1Star HF Pamm accounts are most fake account manager
I lost 2 accounts in less than 2 month all the money was gone
Milan, Italy,
Dec 24, 2015,

I used hotforex for a few months and for all period MT4, webplatform, and mobile app give problem .
the platfrom have a big slip page even with pro account .
nobody solved this problem and i waited to solve this problem from from July to September, but nobody solved then I decided to have trader with other Broker .
before open account , please check carefully Spread Comparison(Include Commissions ).
for a few month I could spoke just by email and by chat with hotforex employees.
Imran Nazir,
Rawalpindi, Pakistan,
Dec 23, 2015,

I started trading last year and have lost a much coz brokers mistake. I am not interested in mentioning their names since I have tried to convince myself that every trader looses money in start and that's why I try to let go off them. I then started with very small investment with this broker and since I felt that I have no problem with their easy trading platform and the withdrawals usually took one day to come into my skrill account. I must recommend others to give them a try.

2012-05-21 4Star
Review: Lots of things been going on lately, some positive and others are negative, I trade the news a lot specially this month with all the political issues happening in Greece, I know there is no escaping slippage and I am not a technical person, I hope hotforex could do something about it. Setting that a side, I noticed a big improvement in there execution, and I find scalping a lot smoother now a days and that makes earning more fun, I hope they continue doing their thing.
KL, Malaysia,
Dec 17, 2015,

A very dangerous broker, freeze furing news time, including your pending orders.
Luckily I recorded this video.
Carlos zapata,
Guanare - Portuguesa, Venezuela,
Dec 14, 2015,

The good thing about them is that they allow small traders with little deposits and that is encouraging point by them. I hope they will continue to do so in future.
Mukesh ,
karachi, Pakistan,
Dec 10, 2015,

it is good to trade with them because they have many option for deposit and withdarw ,No problem in withdrawing your funds your funds and that what makes me feel good about it
Bandung, Indonesia,
Dec 5, 2015,

I have tried hotforex and found them good specially when they offer good bonus. I could not get much benefits from rebate offer because I am not good at it smile emoticon But it is good opportunity for those who are good in it. Overall it is a good 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:

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.