HotForex Review

3.739 · 508 REVIEWS

Also hfeu.com

Also hfmarkets.co.uk

Updated: Jan 18, 2021 · HotForex.com  · Is this your company?

HotForex is a forex broker. Hot Forex offers the MT4 and MT5 trading currency platforms. HotForex.com offers over 45 currency pairs, cryptocurrencies including bitcoin, indices, shares, bonds, gold, silver, energies, commodities and cfds for your personal investment and trading options.

HotForex
Part of HF Markets. Other websites include HFEU.com

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: 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

Live discussion

Join live discussion of HotForex.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

3.739 · 508 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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

Your feedback matters!

Traders Reviews

Martin,
Paris, France,
Dec 20, 2011,
Guest

My successful trader friend in Greek introduced me hotforex earlier this year since I had experienced with big slippage problem with my previous broker. I am very pleased with their excellent service since I started trading in hotforex.
deposits and withdrawl speed is very quick. I always get notice and instant help from customer support team even when I had small amount in balance, making me feel like important customer.
They are using Metatrader platform, and everything seems very easy, you just need to focus on your trading strategy and study the market to earn the profits.
 
eric,
, France,
Dec 19, 2011,
Guest

Dear All,
I was a master affiliate at Hotforex with earnings around 250 to more than 1000 USD a day, but obviously I was making too much money by driving lots of clients to the Company, so they decided to find dark excuses, pretending I was not using appropriate tools to promote their services, to eject me and take the entire benefit of what I did for them without paying me anymore!
Regarding this Company I had been warned by a fund manager (acmehegde) which told me that clients of him, had problems with orders because that manager realize consistent and regular profits and they certainly manipulate the closing procedure…
I am very sad with this, because I had very good relationship with technical team and directors for a while, trying to build international business with them, before some of them become totally disrespectful with me…
However, regarding my case, I clearly have been ejected because of my commission’s amount and absolutely not because of other factors like unadapted SEO campaigns at all…
So please, this is only my particular case, but I do want to warn you to STAY AWAY FROM HOTFOREX if you plan to really make money…
 
Song,
Roma, Italy,
Dec 5, 2011,
Guest

I withdrawal 30000 USD via moneybookers, less than 24hour received. Best!
 
Banison,
New York, USA,
Dec 2, 2011,
Guest

Account opened about a month ago.

Account opening - within minutes you are live.
Execution - very fast, no re-quoting. Slippage is a problem.
Customer Service - prompt, helpful, polite.
Deposits - within minutes, any extra fees refunded promptly.
Withdrawals - ??? (haven't made one yet)

What needs improvement is Trader's Room. You can't see, access or change your personal information. You can't see your trading history. At least not yet.

Broker is highly recommended.
 
Marcel,
Bourgogne, France,
Nov 30, 2011,
Guest

here is Marcel from France, I have been trading with Hotfroex last 5 months and I think its the best broker company I have tried for now ! they have got a great choices if it comes to accounts kinds ...you can chose what ever is convenient for you and for your budget !! you can start small and grow bigger ! and if you know how to trade and have some knowledge about the market and use your mind right you can gain great profits and thats what happened with me ! they have got a pretty good execution .. and one thing else, their customer support service ... I have contacted them a couple of times to ask some questions and I was surprised by their fast replies and impressed by their nice treatment.
 
Sailesh Kumar,
Delhi, India,
Nov 30, 2011,
Guest

I opened an account with Hotforex for 9 months so far, and they are good with me, Trade execution is perfect. Spreads are normal, i compare their spreads to other brokers and it is normal. Every time i withdraw money it is timely and the customer service is good and genuine. No complaints here I like the execution and so far they are fair with me, highly recommended.
 
EC,
Hong Kong, Hong Kong,
Nov 30, 2011,
Guest

Great broker! 5-star. Follow up on my review below. They admit the slippage was excessive and I was offered a refund for the losses incurred. Very happy with their swift response. Will continue to do business with them in the future. Keep up the good work!
 
EC,
Hong Kong, Hong Kong,
Nov 29, 2011,
Guest

They reversed the trade which caused me to lose money as that was executed outside of the market price. I am happy with their swift response.

2011-11-28 1Star SCAM - Do not use this brokerage, I gave them a good rating before then I keep using them until I got scammed. Hotforex closed my position at a price outside of market so they can take my losses. I have short positions but they closed it automatically at a price way above market at that time. They let me incur heavy losses in my account. I have asked them to reverse it, will see their response. They are investigating the issue now, will let you guys know how it turns out. If they do not reverse it, then I will escalate it to FPA Trader's Court to prove they are a SCAM broker.
 
Amanda S,
Edinburgh, United Kingdom,
Nov 28, 2011,
Guest

Hotforex was recommended to me through a friend of mine, he is also a trader. I was struggling with my previous brokerage, disconnection and delay when it comes to withdrawing my money. So I joined hotforex with a demo account last May 2011, there were lots of good feedback on the internet and so I decided to go live. At first I lost some money during something that had to do with the server, I was alarmed until I talked to their Customer Care, because usually you don't get your money back after such an issue, but to my surprise I was reimbursed after they validated my claim, that's a plus for hotforex. Things are really smoother in hotforex. I can safely recommend this brokerage.
 
Daniel Paul,
Reno, Nevada, USA,
Nov 28, 2011,
Guest

This is my first time creating a review for this company. I’ve been trading with hotforex for three months live, and almost two months with their demo accounts. I like the option of having different types of accounts. Another thing that I like about them is their platforms, it is on constant improvement since the first time I’ve joined them, there were some bugs at first but recently it’s been quite a big help for me since I do move a lot. Execution is OK, there were some issues with disconnections but it was resolved and it's a lot faster and more stable right now. Spreads are also OK compared to other companies, it's tighter though there are times that spreads go a bit wider that usual but still its manageable. I’ve been trading for almost 4 years now and compared to other brokerage that I’ve dealt with before I give hotforex 5 stars, since my primary profit comes from them. Godspeed.


Hotforex was recommended to me through a friend of mine, he is also a trader. I was struggling with my previous brokerage, disconnection and delay when it comes to withdrawing my money. So I joined hotforex with a demo account last May 2011, there were lots of good feedback on the internet and so I decided to go live. At first I lost some money during something that had to do with the server, I was alarmed until I talked to their Customer Care, because usually you don't get your money back after such an issue, but to my surprise I was reimbursed after they validated my claim, that's a plus for hotforex. Things are really smoother in hotforex. I can safely recommend this brokerage.
 

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
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.