HotForex Review

3.739 · 508 REVIEWS

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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

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3.739 · 508 REVIEWS
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Traders Reviews

Zamokwakhe khumalo,
Durban, South Africa,
Apr 22, 2014,
Guest

very good broker, good support, fast withdrawal I use the hotforex debit card.
 
Gensan, Philippines,
Oct 20, 2018,
Registered user

HotForex.com has some great customer support.

HotForex.com has some great customer support. Thought it might be nice for them to have a trading platform themselves cause MT4's UI is so not good for me. I'm from FOREX.com though and their great platform's nice.
 
Georgios,
New York,
Jun 3, 2011,
Guest

I am glad i signed up with HotForex. No requotes, good spreads and great live support. Keep up the good work.
 
Jayesh Patel,
Ahmedabad, India,
Apr 27, 2013,
Guest

I`m trading with this broker from last 9 months, so far this is a good broker. I like the spreads and withdrawal most. Overall Hotforex is nice broker.
 
tony,
wh, China,
Dec 7, 2013,
Guest

Really the best broker! Really as they promise: honesty ,openness and transparency.As i know,they have the best reputation in FPA.
 
jojo,
Europe, Slovakia,
Jul 2, 2015,
Guest

Good experience - competitive spread, fast liquidity, service support, Thanks
 
Michael G,
NC,
Mar 14, 2011,
Guest

I opened two seperate account with Hotforex around a month ago and so far so good. Trade execution is fast, never saw a requote and I made my first withdrawl today and it was painless and without fees (well alertpay did charge me 50 cents!! hah).

Love this broker so far, their chat support can be iffy from time to time but I was assigned an account manager who is quick to answer any and all questions.

Michael

 
Tim Needham,
USA NC,
Oct 13, 2011,
Guest

I'm really impressed with this broker. Fast deposit posted in seconds and the trades are executed very promptly with very low spreads and I love the 500:1 Leverage. And they only charge one leg of a hedge to your margin. And with a 50% bonus option the margin requirements are very low (I know that means you are risking more but it also means you have to mess up more to lose it.) With the bonus the margin requirement for your initial deposit is effectivly 0%
 
Vasily,
Tashkent, Uzbekistan,
Aug 22, 2016,
Guest

good broker, cheap CFDs

I have premium account there its quite flexible comparing to US stock broker I use for futures, you can set up leverage, combine raw spreads and commission and even use fixed spread (which I haven't tested yet). My experience with them limits to one month but its quite pleasing, though I haven't withdrawn any profit yet. Some CFD contracts on currencies which they offer is much cheaper than respective futures so I will probably increase my exposure with this broker soon. For now I rate them 5.

Thanks.

Vasily.
 
Nassim,
Algiers, Algeria,
Apr 20, 2012,
Guest

Hotforex was recommended to me by a good friend in Europe last year, when he understood that I had experienced with some unstable server problem with my previous broker.
I'm glad that I'd found a professional company, and the customer service is very quick and problem solving. Every time I send a questions I can get the response very soon.
I'm trading often, and the platform is stable for me. I'd been with them for about one year and had withdrawn money twice. the withdrawls took me normally within 12 hours in working days.
 

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.