Broker Details
| Minimum Trade Size: | 0.01 |
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| Maximum Leverage: | 1000:1 |
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| Minimum to Open Live: | $5 |
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| 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 |
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Traders Reviews
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…
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.
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.
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
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
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.
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.