Broker Details
| Minimum Trade Size: | 0.01 |
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| Maximum Leverage: | 1000:1 |
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| Minimum to Open Live: | $5 |
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| 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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Traders Reviews
I wish best of luck for them.
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.
And rather market maker.
Will appreciate if hotforex representative come out and explain it.
2014-09-23 5Star i was thinking they are as bad as other brokers but after what i face and after thy calling me and solved all my issue with all loses all i can say is that i think they are one of best brokers to be trade with acording to me and my own experince with them and i did correctedt all issues i posed aginst them and again tyvm hotforex and ty dear mr basel i really respect hotforex and its fact and no one paying me to say so
rafat darwish
2014-09-01 1Star most bad experment after dealing with them, no custmercare warning or advicing,totaly frustred system spically 100% bounse
Using “zero spread” account in combination with their free VPS fell short of expected results because of 18 ms. ping which seemingly were leaving me no way to reduce it. Spreads on EUR/USD hovered in between 0.0-0.1 pip, sometimes it was raising to 0.2. After putting heads together with HF’s support decision were made to move on paid VPS (25$/mo) with a ping shrunk to 4 ms. respectively. What I like most in HF is that they server with lowest ping match the server of the lowest load, so MT4 picks fastest server automatically, without need of its manual correction.
So trading platform were perfectly set up, substantial ping reduction allowed to lower slippage as well. First week were closed with 26% profit, I’m so excited with my trading performance and warmly thank Hotforex for their good job. Hope they will keep up with their line of great service.
When I tried to open an account by providing every information correctly which somehow, wasn't good for HF in my opinion, there was a "500" error every time I tried. It happened around 5 times with me. To my luck, I filled with postgraduate degree, profession as accountancy, have contacts with public/political authorities, know forex etc.
Later on, when I tried with providing false information like no education, no contacts with politics or public figures and doesn't work in accountancy, my account was created on the first attempt.
Now, I have reached to a conclusion that HF only wants traders who are naive and they are afraid of people who know everything and/or have contacts with authorities they might be afraid of.
I would like if any representative from HF can shed some light on this matter as to me it is very disturbing and will be keeping me away from this broker.
Note: I will change the rating accordingly after being satisfied with the answers.
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
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
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.