HotForex Review

3.739 · 508 REVIEWS



Updated: Jan 26, 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
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Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

Multan, Pakistan,
Jul 15, 2015,

I have been trading with them for several years and they were perfect. But now they are not always honouring my Stoploss and when contacted every time they say there was gap or spread widens.
Gauteng, South Africa,
Jul 10, 2015,

TOPS!!! I have trade with several brokers in the past. Honestly, Hotforex is top of the list. Super service and responds to e-mails. Spreads is also less than most top brokers. Execution and trading support alll top class. Thanks Hotforex. I feel comfortable and at peace doing business with you.
Europe, Slovakia,
Jul 2, 2015,

Good experience - competitive spread, fast liquidity, service support, Thanks
Mamadaminov Oybek,
Bukhara, Uzbekistan, Uzbekistan,
Jun 13, 2015,

I`m new to forex and I open account with hotforex to test them with small deposit. Last month I opened a account and I have received Bonus money for my deposit. I earned some profits after 2 weeks. I requested a withdrawal from them and they processed my payment in day, no deduction withdrawal fee, and fund was in my Skrill account in next day.

Currently I am having an EA written for trading and the backtest result with this broker was quite good, I would bring it on market soon and back with a detail review.
Salman MEhmood,
Lodhran, Pakistan,
Jun 9, 2015,

i join hotforex before some days in may i deposit 55 dollors for chek this broker many time i caught hotforex with red handed they have fully cantrol on my account they doing cheating. i close my lot with profit 3 dollors but they give me 1.08 dollors i close a lot with profit of 6.65 some thing they give me 4 dollors they cheating in many lots i tell them its not fair then they ignore me and said every thing is fine and a major problem is that if your lot going into lose pip and rates show accurate if lot going in profit they not show right rates they create 0.90 cents or 1.10 dollors difference between live rates in spot gold but if your lot going in lose rates will be accurate pip by pip i think they not on FSC and they doing gambling with the customers that customer will be lose in every condition and all money owner will be hotforex if you profit from hotforex they give you that money from pocket and if you lose that money will collect hotforex its cheater gambling broker and big scam i dont want huge investment with hotforex

sorry for my bad english guys just watch your swap and market rates with other brokers or live markets u will be understand what is hotforex. thanks
myhotforexid is 167181
Auckland, New Zealand,
May 26, 2015,

I have been with HOTFOREX a few years so far. I do feel they are reliable broker, definitely better than average. Even though I have not made any large amount of withdrawal with them. The only thing I feel bad about is they apply high swap rates on your trades. I hope they will improve that asap. Thanks
Tareq Hasnain,
Dhaka, Bangladesh,
May 25, 2015,

I m trading at Hotforex from 2013.They have the best platform.Even in news time platform give nice support. Recently they open education center in Bangladesh.They have the skilled person here. Very happy to get good support from Bangladesh team.
Keep it up.
Felix Fu,
Hong Kong, Hong Kong,
May 4, 2015,

I refer to my previous review submitted 30 April 2015 and want to update the situation.

The fund deposit issue are resolved now, their manager phoned me to help resolve the issues quickly and I feel highly satisfactory with their customer service and fast response.

Previous Comment made 2015-04-30 as below:

2015-04-30 3Star Hotforex fund deposit and withdrawal handling is a MESS, with is extremely unhelpful, just a very poor sevrice against client!

If you deposit fund with same credit card for several times, suddenly they will block your fund deposit (God! It is only 100 USD) and demand you to submit validation document including your home own bank account statement, a printed form with a lot of blanks to fill (You need to print out yourself, if you don't have printer beside u, don't expect you can continue your trading!!!) which I considered completely unnecessary! They must have u print out, sign and returned the form AFTER you deposited fund (not before, WHY don't ask for that BEFORE your make a deposit?!) although you already tell clearly that you don't have printer now and need to fund the account immediately for trading!

For withdrawal they are also like a MESS, I used more than one credit card to deposit fund before and instructed them clearly withdraw fund to which card, however, although they confirmed with u by email ok, they just do things WRONG and ignore your instruction!

After deposit don't expect your fund will appear instantly, it will bring you great hassle to make your fund really appear in your account and they are one of the most unhelpful broker I ever met.
Ligia Akhesa,
, Spain,
Apr 21, 2015,

I'm very satisfied with this broker services. I have been trading with them for five months now and I have no complaint at all. They offer reasonable spreads and the best conditions for my trading: micro accounts, low minimum deposit, rapid withdrawals, and a very professional customer service. Furthermore they are regulated by CySec which is definitely a plus.
Rabat, Morocco,
Mar 6, 2015,

Hello ,
I have been trading with HotForex since last year 2014 , Everything was fine and still good , Now i have a pamm account i made 20% profits within one week and i withdrew all funds and they send it very quickly .
I'm planning to make a partnership with them to introduce forex in my country by a forum ... I trust HotForex ( Spread , Withdraw and Deposit is Instant )
My HotForex ID is : 31910

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.