HotForex Review

3.739 · 508 REVIEWS



Updated: Jan 15, 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

Live discussion

Join live discussion of on our forum

Go to forums


Your company video here? Contact ad sales

3.739 · 508 REVIEWS
Forex Peace Army

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

Your feedback matters!

Traders Reviews

Toronto, Canada,
Feb 26, 2014,

I am with this company for several years and made deposit and withdrawal with no problem on my credit card. I suggest you to not take any bonus. It's not free money. You take it it will take you a while to pay it back. Actually it's just to make you stick with them.

A lot of people are frustrated because they lost money. According to stats 90% of the people in forex lose their money. This is not the broker fault. The broker is the one who make the transaction. So many people blame the broker for their loss when in reality it's not the broker fault if the person did a buy when he is suppose to do a sell and vice versa.

Other than that it's all good.
Minh Hoang,
Hanoi, Viet Nam,
Feb 16, 2014,

My profit was cancelled by hotforex last week due to some bad feed. but after a couple of emails with execution i got my money back in my account. its not one of the most pleasent experiences but i do commend them for the quick responds.
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.

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.