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Updated: Jun 4, 2020
3.769 · 493 REVIEWS
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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.


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.

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:1000:1
Minimum to Open Live:$5
Address:Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, Saint Vincent And Grenadines, +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
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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3.769 · 493 REVIEWS
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Consumer Reviews

chennai, India,
Jan 17, 2013,

im preeth, i saw all reviews..i just wanna know is how abt the withdraw and its trust full broker ? pls let me knw ..coz im decided to open an account with pls guide me anybody
Mian Channu, Pakistan,
Jan 11, 2013,

I am trade with Hotforex from one year. I lose nearly 1000 USD. I deeply reserch for loss reason at the end I found This stupped broker for client. I have screen shot(Photo) Copper contract pip diffrince Bid price 5.5940 Ask price 3.6960. Mean if you buy micro lot with just bellow 15 USD you lose above 60 USD at the time open.
I am strongly advised avioed open account with Hotforex.
India, India,
Jan 10, 2013,

As I said before here that I'm happy with service, fast execution and fast withdrawal. I have completed 17th months with this broker and I`m very happy with them, even they are offering many things to their traders whether it's bonus or some competition. I liked the Bonus offer by them for 2013 its 100% New Year Trading bonus. I would like to say it again that Hotforex is Good Broker and 100% recommended.

2012-11-09 5Star I'm using Hotofrex from last 14th months and its best broker for me.
in-short I'm happy with service, fast execution and fast withdrawal. Good Broker 100% recommended.
chennai, India,
Jan 9, 2013,

They close the position without any notice though price haven't reached the target level.

2011-07-18 2Star hotforex is worst site.payment problem.server is very bad .
so dont open hotforex live account.
anoop ,
india, India,
Jan 6, 2013,

the best broker i had ever trade with in my 4 years of trading experinec.
One eg once there was a system issue which last 3 hrs... and i was unable to trade wen i repostred this to support the compnesated me

Genuine broker i will gve them 5 out of 5
Rawalpindi, Pakistan,
Dec 12, 2012,

Withdrawal via moneybookers is not free. If you withdraw USD 1000/- you will get USD 990.1 in your moneybooker account. Both Hotforex and Moneybooker claim that they are not charging any fee but end result is that client won't get exact amount in his accout. Why.... I don't know myself. I am using this for last two weeks and overall it is a good broker.
Husain Khan,
, India,
Dec 11, 2012,

I’ve been trading with hotforex live for 4 months now, and tried their demo for almost 3 weeks before that, I have just recently left my previous broker due to some scalping issues which I did not do, I’m not even a scalper.
Anyway it was not easy looking for a good broker, it reminds me when I was searching for a broker for the first time a couple of years back, there a lot of reviews and a lot of people have a say let it be good or bad. Things have changed since then and there are a lot of new names in the scene, some of my buddies were already trading with hotforex and they recommended that I check them out, and that’s how I ended up joining.
I did my research, this broker had some small issues in the past, but it was solved through their team, they are regulated and they have been up and running for almost three years now and that’s a good sign, on a more technical aspect, the spreads are quite good, not the tightest out there but given it’s a known broker I think hotforex has a low spreads, the only time it widen is during week liquidity which is a given.
Withdrawal and deposits are easy, there are many methods to withdraw money, and I believe no broker would have issues with deposits. When it comes to their support, their response is quite fast, their online chat is always available, email is a bit slow, and they always call you within minutes of opening an account for verification, they are friendly and they do not force you or bug you to deposit which is a good sign, a very respective support.
Trading has been quite pleasant with them, and they are easy to deal with, I once had a TP that did not hit during a fast market and I thought I was played, but after talking to them they did reimburse me and apologized and thus they gain my respect.
Gzira, Malta,
Nov 29, 2012,

Hot Forex is a good company. Me and two other friends keep them as our primary broker. Good spread and trading conditions. I did my first withdrawal on Thursday and got the money in skrill at the next day.
cdo, Philippines,
Nov 22, 2012,

i have no problem with the support of this company but, i wonder why it did not close my deal, i put take profit because i closed my computer but when i look at my mt4 the price surpass my set take profit. wow i miss the profit
, Indonesia,
Nov 20, 2012,

still had account with them, helpful support and fast withdrawal also

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.