HotForex Review

3.739 · 508 REVIEWS



Updated: Jan 18, 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

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3.739 · 508 REVIEWS
Forex Peace Army

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

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Traders Reviews

John Cheers,
Tulsa, USA,
Nov 26, 2011,

I fell for the positive remarks, I admit it. For a trader in the USA, the slippage is intellorable at times. Well its really not even slippage if you understand the term, its liquidity. Slippage would be the difference in the quote (bid ask at the time they get the order) not the amount of time they spend "processing"(fulfilling) an order. As an example, I took an order at XXX price trading gold, they got the order with a slipage of .30 cents, the order was taken at 2.50 off the quote. this was a trade with a Tp of 4.00. So 2/3 of my trade was lost before they took the trade. This was a "buy stop" pre placed order, no excuse. It would be insane to use any type of scalping on this broker if you live in the us. Aditionally, I had a 3k account bust due to server errors on their part, and another 2k account after that. Now the refunded me on the 2k account as a "problem with their server" but refused on the 3k even though it was the same issue. I've has 'execution" ask for screen shots. I happenened to have them on the one they refunded, but what trader just has that all the time? IMHO you can trade them if you trade long term goals, but anything else is just feeding the market. 2 stars and thats being kind.
James Paris,
Bristol, United Kingdom,
Nov 25, 2011,

I have been trading for a year or so, but before I started trading live accounts, I did like any other newbie trader would do and did some research. Hotforex is my second brokerage, and I was really overwhelmed with all the good feedback I got, from fellow trades and in the web. I might not have enough experience to judge a brokerage, but hotforex been improving a lot since I first joined them, I mean execution are a lot faster, I guess they will be adding some new servers as well (not sure), I have no problems in depositing or withdrawing money. Actually it only takes a couple of hours for me to receive mine and their support team is always there and very professional. I give them 5 stars and I don't think I’ll be transferring anytime soon. All the best!
Algiers, Algeria,
Nov 23, 2011,


I am Kamel from Algeria I started trading with forex since 3 years and I tried Hotforex 8 months ago, and you know what ? have left down two other companies because in half a year I have made profits that I used to do in a whole year with other companies, I am pretty satisfied with hotforex and I think its the best company for me and for many others + I see that its getting more clients in Africa and Asisa in particular because Hotfrex cares about the clients more than other companies .. I am talking regarding my experience last 3 years. and I must say that Hotforex has got a remarkable costumer support service, I have had to contact them sevral times and I got an answer pretty fast with the right solutions and the requested information.
I wrote this review because I really want to give something back to the company that gave me the opportunity to trade feeling that the broker does not wanna take money from you but wanna help you to gain more profits, personally I have advised a couple of traders to join hotforex. so this way I want to say thank you Hotforex !
bandung, Indonesia,
Nov 22, 2011,

bullshit broker, bullshit review my account was disabled. they closed my account after make over 10X from deposit. this really scam broker. be carefull
England, United Kingdom,
Nov 21, 2011,

I decided to create a review for hotforex since I’ve been with this company for almost a year now, just to be fair this review is based on a 4 years of total trading experience with 9 months demo.
I have joined hotforex December of 2010, It was recommended to me by a close friend of mine after some problems that I have encountered with my last brokerage, I decided it to start hotforex with a demo account and it lasted till January of 2011, then I opened a micro account just to get a feel on the live accounts. There were some problems at first with platform disconnections a couple of months ago, but now its fixed, and honestly speaking it’s a lot smoother than what I expected it to be.
I can be a bit annoying when it comes to details, I always end up contacting their support team, but they were really patient and friendly. And there was this one time that I lost some money during a disconnection but they refunded it to my after validating my claim. Best support team I have encountered so far. I give their support team a grade of 9 out 10.
Hot forex uses different platforms from MT4, webtrader, even the iphone and android platforms, I’ve tried their android platform, it comes pretty handy but most of my trades are done on the webtrader, I rate their platforms 8 out of 10.
Withdrawing money from hotforex is unexpectedly easy, I usually use moneybookers. After downloading and filling a withdrawal form, it only takes 12 – 14 hours for my money to reach my bank account. That’s the fastest process I have ever had with a brokerage company I give them a 9 out 10.

All in all, hotforex exceeds my expectations, and I’ve decided to invest more in this company, I can safely say that this company is highly recommended, good feedbacks can be found although out the internet. though I am still trading with other companies but hotforex would be my main source of income.
BP, U.S.,
, USA,
Nov 18, 2011,

I can't believe all these good reviews. Execution times are horrible, even for manual trading. There are periods when you keep getting offquotes error messages, even when volatility is not very high. Last week I had trades that were executed at prices that were not even on the chart at the time, and they blame their liquidity provider and slippage. Probably the worst broker I've had so far.
, South Africa,
Nov 10, 2011,

I am new to trading and after some investigating decided on Hotforex. First demo for a while and the opened a live account. Service is good and all questions by e-mail or live chat immediatly sorted out. I can highly recomend them.
, Sweden,
Nov 7, 2011,

Hotforex is a really good broker. I started with a private account and 9 months later I am a PAMM manager.

The execution and spread is very good for my type of trading. Support is also excellent and if I have a problem I basically get instant help.

I can basically just agree with all what Desmond Leong have written below even if he is a competitor to me ;) No hard feelings Desmond...
Moris J,
Leicester, United Kingdom,
Nov 7, 2011,

Well, I've been with Hotforex since early this year, I never had any issue yet but one of the my friend said that he had one issue but it handled well by their support team. Highly recommended Hotforex, 5star from my side.
Shocked - RUN!,
United States,
Nov 3, 2011,

I was attempting to open an account with these people and they charged my charge $5000.00 US when I only attempted a $250.00 deposit. Thank GOD my bank caught it and flagged it as fraud, otherwise these crooks would have gotten $5000.00US out of my account. PLEASE STAY AWAY!
I am posting a video on Youtube about it titled Hot Forex Review

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.