HotForex Review

3.74 · 506 REVIEWS
Updated: Nov 25, 2020 ·  · 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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3.74 · 506 REVIEWS
Forex Peace Army

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

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Traders Reviews

khalid ali shah,
Amravati, India,
Feb 8, 2014,

can't rely on execution , they give false excuse and dump all your profit .
Larry Perez,
Tagaytay, Philippines,
Feb 7, 2014,

Trade with hotforex about 6 month. Good and stable platform but when withdrawing large profits there is some hassle with identification documents. Good measure from the one hand (no chance for hackers) but on the other too meticilous. No other issues so far. Planning to stay there more.
, Germany,
Feb 6, 2014,

Warning!! This is a true Scam broker!!! Removed all profits of the last half year!!!! If you still trade there you should request a withdrawal asap.
Bumbacher Andreas,
Untersiggenthal, Switzerland,
Feb 6, 2014,

hotforex just cancelled all my trades and put balance to 0. Is that a good broker??? They offer Currenex-Trading, in fact is just scamming customers. Very, very bad experience wit hotforex. STAY FAR AWAY!!! They even cancelled my initial deposit, how bad is that.
, Slovakia,
Feb 6, 2014,

Everything perfect , extremely fast services , and high leverage , micro accounts have maybe bigger spread but I think Hotforex is the best Broker now .
Australia, Australia,
Jan 12, 2014,

I'd just like to also warn people about "bonus" schemes. If you do not understand EXACTLY how they work - and your account's real status - STAY AWAY. Like another reviewer mentioned - these schemes are a way to take your money relying on your ignorance and "terms and conditions". Hot forex makes out to be 'honest' - I think that is definitely arguable. They are predators just like the rest of the worst.
shenzhen, China,
Jan 12, 2014,

I have to admit Hotforex is the best forex firm ,they are really honest and transparent ,never cheat us,never play tricks,never delay withdrawal ,never lie !
Buenos Aires, Argentina,
Jan 7, 2014,

Pay attention! the minimum quantity you can fund the acct is USD 5, but if you want to us a Signal you must have USD 500 in your account.
Abel Garcia,
Bulacan, Philippines,
Dec 30, 2013,

First of all I would like to apologize for being rude to the person who handled my call, I had a minor dispute with regards some documents submitted by me, the rep was kind enough to take his time and explain where I went wrong and he was very patient. The process of opening an account was easy but I like the level of security that they implement to certain documents which reflects that it’s not just about getting more clients at all. I started trading with a small account, so far the platform is stable and easy execution, I am working on a low risk strategy that should generate a decent amount of return in a span of year. I’ll keep tab and hope that things continue to run smooth. They deserve a 5 star.
Ramesh Tondon,
Delhi, India,
Dec 11, 2013,

I've been using this broker from 2 months and because of the good trading environment that this broker offers, the results as of now are good so far and I would like to say few things about this broker as per my experience

Good stable MT4 platform, even webtrader seems stable
Good responsive support team
The leverage on micro accounts are nice you can trade up to 1:1000 if requested
As an Indian trader only one thing that i`m missing is they dont have office in India but I found many IBs over here which is good.

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.