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Updated: Feb 10, 2020
3.776 · 480 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 Mobile 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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3.776 · 480 REVIEWS
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Consumer Reviews

Philip Da,
Philippines, Philippines,
Feb 6, 2020,

Good Start

Service use: Live

Length of use: 6-12 Months

My last withdrawal was on December of last year, a total of close to 2000 for the 4th quarter of last year which was enough for the holiday season, I doing this review based on personal experience of close to 1 year trading a live account with hotforex, I do have other accounts with other brokers but my main trading is done on their mt4.

Over all the broker is trust worthy and I do know of others I work with that also trade with this broker and they seem to be doing fine. Platform options are standard they do offer a bunch, spreads are reasonable and I can say they are the lowest but they do work fine for scalping. I like their commitment to withdrawal time and they are spot on, never had an issue with withdrawal.

They do not cater services to US traders I believe, but they are quiet popular in south east asia. Just to be fair I cant say this broker is perfect but from a traders perspective they do get the job done, I wish they had more or physical presence in the region, that would help a lot.

Anyway Im planning my next withdrawal around next month hopefully 2020 is good year for all of us.
FLN, Brazil,
Feb 3, 2020,
Registered user

High spreads and long processing times for withdrawals

Service use: Live

Length of use: 6-12 Months

After live trading for several months I had no major issues with this broker. However decided to move my funds to another broker mainly due to high spreads. For example EURNZD has an average spread of more than 6 pips on HotForex, while my other two brokers have 1.1 and 0.5 average spread on the same pair.
Apart from spread, I requested a Bitcoin withdraw which will only be processed the next day, and it will take up to 3 business days for the funds to be credited in my wallet. Anyone with minimum cryptocurrency knowledge knows that 4 days in total is an absolutely unacceptable deadline, when these transactions are processed instantly.
  1 trader has found this review helpful
wiseman jacobs,
Johannesburg, South Africa,
Feb 3, 2020,

stay away from these scammers

Service use: Live

Length of use: over 1 Year

You got a better chance at the casino then with hotforex... If you are a profitable trader then they will do everything they can to make sure you lose all your money.

They are very underhanded and dirty.

Are there no reliable brokers out there?

Hotforex did me dirty and i just thought i should share a review of my experience with this broker to make others aware of what they are walking into.

Otherwise I'll be looking for another broker, tired of these scammers.

This broker must be reported to the relevant authorities.
Port Harcourt, Nigeria,
Jan 30, 2020,
Registered user

Freezing their MT4's whenever in profit

Service use: Live

Length of use: 0-3 Months

I wish there were zero stars review for this company, I would have given them that. Whenever I'm in huge profits they freeze their MT4, refuse move SL to break even etc. Worst broker ever and I'm surprised they still got many likes after scamming people.
  1 trader has found this review helpful
Khanh Quang,
Ho Chi Minh, Viet Nam,
Jan 20, 2020,

10 years broker, decent to trade with

Service use: Live

Length of use: over 1 Year

A friend introduced me to try HotForex about 2 years ago. Before that, I know Forex only a little. After opening demo and exploded dozen accounts, I decided to open a real account with this broker, it's a Premium one with no commission. This broker has wide asset and currency choices to choose for trading. It also supports MT4/MT5 and mobile trading. I lost for a year and made some profits and withdrew for a few times in 2019, they always process your withdrawal requests in 24 hours or lessen without any hassle. According to my research, this broker has been operating from 2010, so I trusted it and last 2 years I don't encounter any critical issues. I can recommend this broker to any new trader.
waffi, Nigeria,
Jan 20, 2020,

They make your winnings small and your loss big.

Service use: Live

Length of use: 6-12 Months

Kindly do not use this broker they manipulate u. You will find it difficult to win trades if you continue using them. They will cut your wins or increase your loss either ways you will not win as much as you ought to and you will lose as my as you ought not to lose. I set an instant execution with hot forex and i noticed on my other account with another broker it was already in profit but in huge lose in hotforex broking platform. My instant execution wasnt executed immediately it was executed as though it was a buy order and meanwhile i was running at losS. Price has to reach 100 pips before my instant execution is filled by then price has reversed against me.
Nick M,
Philippines, Philippines,
Nov 27, 2019,

seven months of live trading.

Service use: Live

Length of use: 6-12 Months

over all experience is actually good. But on a personal note here are a couple of points to consider, the broker is well regulated with multiple regulatory bodies depending on what region you are from, popular in southeast asia, africa and mostly eastern europe. In terms of trading environment pretty much good execution, acceptable/manageable spreads, a wide variety of pairs to trade including crypto currencies. Funding does offer a multiple options both in deposits and withdrawal, one thing to note is to make sure account is fully verified before any deposit is made, withdrawal options varies from an in house debit card option, bank wire and most popular i would say are third party ewallets such as skrill and neteller. I use Skrill and it can be processed the next day or up to 48 hours. There is the usual bonuses and contests going every now and then, though i try to focus on my trading more.
Conclusion: Hotforex is a decent broker, might not be perfect but they do get the job done as far as providing the services needed to traded forex.
amman, Jordan,
Sep 18, 2019,
Registered user

an old exprince since 2014 lost over 20k

Service use: Live

they have false scam pam acounts that made me and other 23 traders lose over 23k in 4 hours

Jan 16, 2017 - 1 Star after one year of trying to get som of 27k loses from hotforex company they kicked me out and took 53 active affiliates accounts with no reasonable reson
  4 traders have found this review helpful
Naeem Zaman,
Rawalpindi, Pakistan,
Sep 4, 2019,

Hotforex broker is a decent broker

Service use: Live

Length of use: over 1 Year

Hotforex broker is a decent one in my opinion because i have experienced a lot of improvements since i started trading with this broker. Overall my trading involvement includes around three years of using micro account. It comes up with good leverage amount although there are also many other account types too. I am using MT4 which is very responsive platform. What i enjoys a lot is the spreads which are easy to reconcile against profits.
  1 trader has found this review helpful
Gia Khoi,
Ho Chi Minh, Viet Nam,
Sep 4, 2019,

Popular and credible broker

Service use: Live

Length of use: over 1 Year

I know this broker several years ago and they have been pretty popular and have established a good reputation over time. I have traded this broker for close to two years now and have suggested it to my colleagues. A few quick notes, they offer multiple account types and services, it can be over whelming for new comers. Try to understand the bonuses first before acquiring, i still see many misunderstand how bonuses work. An advantage is crypto payment offered, many can benefit from it. Another thing is regulations, they are regulated by many depending what region you are in just be sure to ask about it if you are a bit picky, on last reminder is to make sure you are fully verified before doing live money transactions, its a rule of thumb with many brokers and they can be strict with documents which is expected. Over all they are good with a good variety of pairs to choose from.
  1 trader has found this review helpful
Johannesburg, South Africa,
Aug 29, 2019,

Hotforex fraud

Service use: Live

Length of use: 3-6 Months

I trade using stop orders and limits, I had buy limit orders set for Eurcad today on my hotforex account and on another account with another broker both at the same price, when I checked later I find that the buy limits have been triggered only for hotforex yet the price didn't even reach my orders. When I checked on my other account the orders were not triggered. Hotforex manipulates charts and their spreads against you.
  4 traders have found this review helpful
Pretoria, South Africa,
Aug 27, 2019,
Registered user

Price manipulation

Service use: Live

Length of use: over 1 Year

When I woke up on 26/08/2019 I found that my hotforex account had been stopped out because, according to my hotforex mt4 chart, usdtry had spiked to 6.39 and I had small trades open but a spike of that magnitude was enough to clear out my account. When I got my wits back, I started checking and found that the spike only happened on the hotforex chart, every other chart that I could access showed the usdtry going as high as 5.85, well below the 6.39 on the hotforex chart. I did send an email to hfsupport and am waiting on their response. I will submit that when I receive it.
  4 traders have found this review helpful
Gagri, Pakistan,
Aug 7, 2019,
Registered user

Introduced by Hotforex IB on demo services but now i am a live trader

Service use: Live

Length of use: over 1 Year

I was introduced through an IB with this broker however this IB guy did helped me a lot in learning forex trading. I did traded sometime on demo along with his instructions however now i have been trading on live for the last one year. The overall trading condition is convenient and sufficient enough to make profit. There are bad times too when i overtrade yet i find its a part of my own faults so nothing bad about the broker side.
  1 trader has found this review helpful
Johannesburg, South Africa,
May 15, 2019,

Good fast withdrawal in 3days
Best for fundementals and technicals
Am happy with their service , hope they keep up the good work
  1 trader has found this review helpful
May 14, 2019,
Registered user


Hotforex regional Team leader, name Fun has solved the issue. Hopefully they can do thing like this at first hand next time.

May 8, 2019 - 1 Star My account number is 51045893, i have requested their server location to their customer service thru chat so i can setup my vps but she sound so skeptical. This really worried me. Is hotforex really a legit company ? I tell her so many times that i am asking to setup a vps but nothing happen. If hotforex rep is here contact me at email i registered with your comapny.
Toni Alvarez,
Cebu, Philippines,
Apr 29, 2019,

Positive Impression

the broker is well know and good over all. spreads aren't the smallest I have seen, but the over all package the broker offers definitely is better than most, and scalping is doable. No complaints with withdrawals, fast and easy, and they do provide options. the number of instruments offered are really good, tradeable currencies are very decent, they do offer crypto though I do not trade them. sticking to eur and usd pairs is my way to go to. support is available, I guess they do offer live chat email and phone support, I do get calls at time when withdrawin just for verification i guess. I give them a 4/5 based on a five months live trading account. make sure you understand the bonuses first and keep leverage at a manageable range.
Duy Nguyen,
Ho Chi Minh, Viet Nam,
Apr 28, 2019,

Good broker for Asian trader

I participated this broker's seminar held in a hotel, I also claimed $50 bonus, this bonus is tradeable only. Payment is pretty fast (deposit in a few minutes by CC and withdraw in 24 hours - processed ). Have been using them for over 1 year from early 2018... Customer support is also good, live chat takes 5-10 mins for response and phone call is instant but only for proficient English trader because they have EU accent (I cannot catch their voice). The main advantage is various account and assets options to trade, I am from South East Asia and no problem in using their services.
Apr 19, 2019,
Registered user

Bad Terrible Broker..!!!

Hotforex is practicing unfair and scammy trading services to its clients. They manipulate their spreads that widen to more than 5 pips (during normal market conditions), contradicting their claims that they have the best spread service compared to other brokers as stated by their spreads comparison table in their website. They claim that most pairs have no more than 2 pips as shown in their table, but not true in current live trading. I have the screenshot proofs! STAY AWAY from this broker ..... !!!
  2 traders have found this review helpful
Min Yang,
Kuala Lumpur, Malaysia,
Apr 13, 2019,

Advanced, Fast and Credible broker

I have been trading with this broker since 2018. Withdrew many times and withdrawals are processed the same day or the next day (under 24 hours). This broker offers most of Forex trading services, CFDs or Bitcoin payment, Spread / No spread and Commission / No Commission. I think every trader can find their preferences here. So I highly recommend this broker for new or intermediate trader. I give them 4 stars!
Viet Nam,
Apr 7, 2019,
Registered user

Hi traders,
I was a trader have been a customer at Hotforex in the past 10 months and I completely failed and my mood collapsed due to my losses on 2018 July and 2018 August

On 2019 Jan I started to make a list in my trading history dates to learn by myself from my mistakes to improve my trading. I had unexpected lesson in trading history at Hoforex.

I wrote down about my trading story and complaints to man power in Syces on 2019 Mar 18 but I have not yet received their response.

Iam still waiting to their response about my issues

Traders please read my story in trading the past 10 months..
I hope that traders could learn from my mistake lesson to ovoid the evil men in the world

I would like to learn how the power in the world to of the law court this time

Hotforex is worse than war-time

Lam Quang,
Vietnam, Viet Nam,
Mar 27, 2019,

Decent choice for SEA traders

I have traded multiple brokers for years because I always diversified my funds. But after trading for 2 years, I see hotforex is much better than local brokers I tried. Another international brokers I was trading had the same quality but hotforex has a local IB that contacted me to support me any issue, it's reason I choose to keep trading with this broker. He has helped me a lot to withdraw / deposit my local bank account. Hotforex is quite popular in my region, South East Asia, with many offices. They offer various account options with minimal deposit from only $ 50. Highly recommend!
Manila, Philippines,
Mar 23, 2019,

look for other broker if u are micro only cos of high spreads

Micro account has high spreads like average is 15-18 pips for other currencies only currency that has reasonable spread is eurusd which is 10-15pips. this broker is a market maker and will look to beat you in your trades. prepare a trading system that will beat them and you can be profitable otherwise look for another broker
Rawalpindi, Pakistan,
Mar 3, 2019,

I opened my account in October 2016. I provided a scanned copy of my ID card and personal bank statement for verification. After my account was validated I keep on demo account for quite some months before funding my live account.

My live trading journey started a year later when I funded my micro account and started trading cable for sometime.

My account was small but I made nice profits every week because of good leverage and lower spreads. Now I have two accounts with this broker, one is big one and another is the one I opened to start trading with them.

I am trading with confidence because I have seen that the services are good. I withdraw my money back to my bank account most of the times and it's easy.
Lahore, Pakistan,
Feb 24, 2019,
Registered user

Still waiting hotforex response

Lahhotrid but hotforex representative who asked for account if, didn’t give his response, as i staes earlier, they think they have too big now to solve their clients issue, instead some other people are contacting me and telling they have the same issues, anywaYs lets wait and see.

Feb 12, 2019 - 1 Star Myhotforexid: 696525
Well, Well, Well, here we go again, I never thought that I would write review about hotforex again after 4 years but things are getting worst with them.
ECN Broker-Complete Lie
B Booking- going on full time
Stop Hunting
Execution issue 7/10
Customer support -Pathetic
Arrogant behavior- this one is added recently

I had account with hotforex 4 years back and when I started to make money, I faced all above issues, after reviewing it on forexpeacearmy, they resolved some of the issue, but my relationship with hotforex ended with some of the continuous issue, changing instrument timing without informing clients etc.
I opened account again due to personal relation with their Manager Mr. Sohail Khan( who also resigned due to issues with hotforex) who promised me that there would be no issues and my account will directly be connected to market and there is no B Booking involved, if some of you don’t know what B booking is, its market making, they trade against you rather than sending your trades to markets.

Last weekend they stop hunted me on 2 of my positions with sudden spike and after that price went to normal. I have deposited more than 10k usd in last 2 months, but greed is curse and they just stop hunted me for 216 usd. I sent them email immediately and there was no reply from them when market was open and they most probably enjoying their beers. I would say that’s an arrogant behavior.
After multiple emails, they took more than 16 working hours to solve the issue. Their trading desk is pathetic and they opened and closed my positions multiple times, they can’t even understand simple math, how to add and subtract. But big question is that how an ECN broker can change positions when time has passed, only a market maker can do that. There was also a weekend between this and those 2-3 days was full of mental stress and tension for me but they don’t care, because they think that they have grown too big to provide good customer support to their clients and resolve their issues. They opened my positions again when market was against me, if they would have stored it earlier, I would have made good money, but why they should have done it, they don’t want you to succeed. In the end after multiple emails, they reimbursed me 216 usd after I sent email to their MD, Mr. Aristos. so I started to trade again.

Then one fine morning, I received email from their client audit team that they are closing my account under clause 35.2 , that clause just say that they can close account, nothing else, and I won’t able to open any new positions, that day I lost many opportunities to make money, we need to understand that leverage trading is big risk and reward, so they have deprived me opportunities to trade in the open market. Giving trading opportunities to the clients should be the first and foremost objective of the broker but they have denied me that opportunity. I tried to contact all known people in hotforex but there was no reply till today from them, why they were closing my account.

I have caught them red handed for stop hunting me, that’s the only reason I think, they have decided to close my account. They would have thought this client will keep an eye on us and will catch us again.
As I mentioned earlier that greed is curse, my trade volume is very high, even if they would have just relied on commission, it would be a lot for them but no, they want to rip you off each and every penny of you.
They did not reply to a single email till now, I contacted one of their managers by getting his number from somewhere and he told me that in past I caused damage to hotforex reputation and that’s why they are closing my account. Now here are two questions, why they have approved my account at first place when they knew that I am the same client, and if they didn’t know, how useless they are. I have deposited more than 10k usd and now when they have closed my account, they denied me the opportunity to recover my loss. Second, they only close my account, after I raise my voice for stop hunting me and ripping me of my money, giving me mental stress, tension, wasted my time.,

So guys, making and losing money is part of business but if you don’t want to have mental stress, tension, wastage of time and want to avoid pathetic customer service, avoid this broker, they are scam.
They will stop hunt you, there will be execution issues, because they are market maker, they will never want you to make money.
I have proof of each and everything which I stated above and if anyone is interested, they can contact me to see the proof, I can’t post snapshot here. I will show how they are stop hunting with spiking the price, how they are changing positons without informing clients.
My email is
Yesterday I sent them an email and I gave them a fair chance to resolve the issues and was expecting call from their management but they opted to ignore.

Hotforex is a bucket shop, market maker, they will rip you each and every penny of you.

I will also send this review to them and ask them to defend it on forexpeacearmy as I continue to give them a chance to step forward and communicate with me.
  2 traders have found this review helpful
Feb 22, 2019,
Registered user

Update on account 51027087.


Details: In my previous review, the withdrawal finally registered in my account after 15 days. But the impossible thing happen, HOTFOREX TOOK IT BACK FROM MY BANK ACCOUNT! YES ITS IN MY BANK ACCOUNT ALREADY AND HOTFOREX REVERSED IT! I was assured by its country representative that its impossible to do but they actually did it. ITS VERY SCARY BECAUSE THEY CAN TAKE BACK WHAT THEY DEPOSITED.

Imagine the implication of what they are doing. Trade with Hotforex at your own risk.

Feb 20, 2019 - No Rating Account number: 51027087

I already got my money. Their country manager took an effort to call twice to make sure I got it already. I also talked to my bank.

The issue lies in the intermediary of Hotforex. Hotforex may have processed it quickly but the intermediary is very slow. Advised them to address that.

Great customer service. I hope they would fix their intermediary issue. I wish I could take the initial post down to give them a chance but system won't allow it. Hopefully this explanation will help.

Feb 15, 2019 - 1 Star Account number: 51027087

Hotforex is a black hole broker. They do not expect you to profit so wire transfer would take forever. It is now 2 weeks and I still don't have my money. They would give a bogus ARN number which is useless when you talk to your bank's remittance department because no money was actually sent. It happened to me twice. I gave them the benefit of the doubt the first time and it happened again. It is already their business practice.

You will not realize the problem until you withdraw money. Once you withdraw, that is time they will give you a merry go around where you could get your money after a month (assuming you could still get it).

Jul 26, 2018 - 1 Star Account number 411753

This company has a thick face. Soooo difficuuuuuuult to ask for withdrawal. Its been 17 days already and they still haven't deposited it yet. Stating a lot of excuses. The amount is not even much.

The worst part is that if you are going to follow up for their failure to process withdrawal, they will ask for your bank statements and a lot of documents. INconveniencing us for their incompetence as a company.

It is very likely that they do not expect us to withdraw money after we deposited. This company is a blackhole of our money or Hotel California of deposits. Once you have deposited, it will be extremely difficult to withdraw.

It happened twice already.
PH, Philippines,
Feb 14, 2019,


So far, I have traded with this broker for roughly 1 year, overall it's good and here is my experience:
+ Reputable broker, I know this broker for a long time at Forum also Social Media. I did register a demo account there and someone from EU called me for consulting me opening live account there.
+ Multiple accounts and assets for trading. Hotforex supports both MT4 and MT5 platform and you can trade Forex and CFDs, Bonds, Stocks,... I tried several broker before and their services are not various like hotforex.
+ Fast payment: I used Skrill/Neteller and CC for deposit and withdraw. Both are good to use at this broker, you normally have your fund credited within a few mins and withdraw within 24 hours without any hassles.
+ Good CS
+ They offer many things and as a beginner, it's not easy to pick a right thing for you at the beginning. I at first prefer Zero account for tight spreads but then I turned out switching to Premium for 0 commission.
+ Slippage during volatile time, it's common at most brokers but it should be considered if you're FA trader.
Mujeeb Arif,
Larkana, Pakistan,
Feb 2, 2019,

This is my secondary broker that I am testing for consecutive three months. I have a micro account with small amount. The trading software has multiple options to enter points where the trades automatically initiates and upon reaching the desired take profit input, trades are closed with no hassles. I had withdrawn only once and it was processed easily. So I am considering their services and continue trading for more time. Once I get more confidence and money then I will permanently shift my business to this broker as my primary.
Sang Thai,
Ho Chi Minh, Viet Nam,
Jan 25, 2019,

Good broker for forex trading

My major is not involving to economic or trading but a friend adviced me to try forex trading. He recommended me this broker and I have lost money for first several months. After learning from mistakes time by time, I now earn steadily profit. I withdrew several times and the CS was very helpful in resolving my issues as account verification and how to withdraw my profit. I think this broker is pretty decent and good for forex trading.
Nairobi, Kenya,
Jan 8, 2019,
Registered user


Two days trading with hotforex and so far so good... Timely executions, timely deposits, tight spreads, prompt customer support.
I'v give a 4 star because am yet to make a withdrawal..
I will update this review once I request for a withdrawal...
Its so far out of the 4 brokers that I use the best on the above mentioned issues...
Kashif Bahtti,
Pind Dadan Khan, Pakistan,
Dec 31, 2018,

4 stars rating

I am trading with hotforex broker for around one year now. Mt4 platform is quite easier to initiate the trades. Trades are also executed when reaching the desired stop loss and take profits. The leverage is good on micro account which is 1:1000 and spreads are like very cheap. I believe that they have good services as compared to the rest so i wull rate them 4 stars.
Penza, Russian Federation,
Dec 13, 2018,

Decent choice

I trade with this company for two months, I was complete newbie in trading so basically started from a scratch (learned what "forex" means after opening demo account, haha). So basically I'm testing waters with this broker, placing trades based on combination of hunch and some basic technical rules, like S/R, MACD etc. It's so funny and captivating, sometimes I spent 6-7 hours studying extensively every bit of theory of trading. What I can say regarding Hotforex it looks and acts as a trustworthy company, at least I didn't noticed any fishy actions from their side, everything is clear and transparent. You trade they earn spreads and commissions, simple as ABC. MT4 platform is really amazing so many tools and capabilities, I guess its used by professional trade guys too.

I read dozens of examples about bad experience on real accounts, so trade in a very discreet manner, placing 0.01-0.05 lot trades, 3-4 times a day. What I can say that execution is lighting fast and spreads look always tight. Great broker.
Benjamin S.,
Batangas, Philippines,
Dec 11, 2018,

Good experience

The whole experience is pleasing. the trading is with in expectation, solid platform good execution, spreads are manageable still room for scalping. withdrawals are spot on, always with in the allotted time. a solid decent broker. Last withdrawal made was in the first week of Dec making a total of 1200 in profits. A good way to welcome the holidays.
Dec 5, 2018,
Registered user

You will never profit with this me,,
They freze when you in winning potition,and hunting your stop loss

Minh Tien,
Tien Vu, Viet Nam,
Nov 25, 2018,

Decent forex broker

Hotforex has a decent platform over with good set of option and service, just the right amount to cater to different traders need, mainly currency trading, crypto trading as well as commodities. There are bonuses but i suggest understanding them first. stability of platform is very good. Fast execution and spreads are manageable, scalping is possible but i mostly swing, havent had much had interaction with support aside feom opening the account 4 months ago. So far no complaint and all withdrawals are processed in a timely manner. I hope they would open more offices in Asia for ease of access and convenience but i have no complaints. Good work by them!
South Africa,
Nov 20, 2018,
Registered user

Hotforex 100% Credit Bonus

The 100% Credit Bonus on 1st deposits is false advertising by Hotforex.
They will credit your account but remove it the moment your 1st deposit is finished.

Hotforex closed my orders in a losing position without notifying me. I could have added money to my MT4 trading account to control my risks. My account records can prove what I claim.

This 100% Credit Bonus is the greatest scam in the brokerage industry.
Regulators, such as the FSCA of South Africa, allow Hotforex to gain an advantage over other brokers.
Rawalpindi, Pakistan,
Nov 18, 2018,

Convenient and easy trading with hotforex

Well, trading demo for more than one year now. I opened live account and funded it with very small amount, rather not to disclose the amount at the moment

The gold position seemed very much appealing this week so I started shorting it between 1218 to 1199.

Luckily I was able to make good funds and ordered my withdrawal too. I found trading with hotforex very easy and convenient.
Khimki, Russian Federation,
Nov 6, 2018,

Good job HF

Been trading with this broker for three years, everything is fine, no complaints so far. Pretty good conditions on some exotic pairs, especially USDRUB where swaps are quite lucrative.

Support does extremely good job in handling my requests, usually response time is 3-4 hours. Guess it's because of Premium account and Personal Manager option. One of them had extensive knowledge in setting up EA for work as I got qualified support free, probably more than anybody would expect. So strongly recommend Premium account for traders who run EA's

Regarding withdrawals I've done not to much, my average monthly ROE is 5-7% percent, that's how I keep risks low and managed. Can't say anything about aggressive styles of trading, probably you have to be more cautious when trying their services with high speed EA's or other styles, because spreads may be the issue. Although for medium speed robots Hotforex showed excellent support

Overall rating is 4+
South Africa,
Oct 31, 2018,
Registered user

Atrocious Chat Service

They have an atrocious chat service.
I wanted to ask a simple question if they have an MT4 version for the MAC computer.
Before the chat can start you have to give your name, your e-mail address and even your telephone number and say if you have an account or not as well as type in your question. This info you have to give EVERY time you use the chat.
Then when the chat start you have to type in your question the second time and the agent will ask you again about your account number (which I do not have since I am trying to open an account)
The first time I waited 10 minutes for an agent and then gave up.
A couple of days later I tried again after about 3 minutes an agent started typing. I asked the same question again. Then the agent asked me about my account again. Then after that he wanted to know which country I am from. And all I wanted was a simple YES or No on my question!!
By now I was so exasperated that I just gave up and will look for another broker.
Gensan, Philippines,
Oct 20, 2018,
Registered user has some great customer support. 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 though and their great platform's nice.
San Salvador, El Salvador,
Sep 27, 2018,
Registered user

Is a excellent Broker, but I think that he can be better if add Epayments as method of payment
Jason Lao,
Batangas, Philippines,
Sep 25, 2018,

Good work

hotforex is decent, after two withdrawals and 90days of live trading this is what i got. execution and platform are stable, fast and acceptable. threads are okay, scalping is doable, the addition of crypto is a major plus, from the looks of it its what the madket maybe leaning towards in the future, my last withdrawal amounting to usd1150 wasprocessed to my skrill in less than 48hous. level of security is very acceptable and yes theycan be strict with account verification which is good.
South Africa,
Sep 14, 2018,
Registered user

Bad customer service

Worst customer service.
I tried to open a joint account here and the agents kept emailing me and calling me, asking for me to repeatedly submit the same documents (ID copy and proof of residence).

I sent them the same email about 3 times and would call to check if they have received the documents, Every-time I called the assistant said the documents are on the system and would be reviewed by the relevant department. 10 minutes later a different agent would call/email me asking me to submit the documents as if i never did before and every-time I would respond to their emails saying I have submitted the documents they would not respond to my emails.

Ended up closing the account
Tambov, Russian Federation,
Aug 20, 2018,

Btcusd rocks!

Really really nice spreads on BTCUSD, one of the most tightest in industry. Checked dozens of them, some charge weird 120 bucks per BTC. Hotforex live BTCUSD spread is about 25 bucks, what is pretty tight and 1:5 margin as standard offer.

Catching falling knife on BTC became part of my routine, thanks various shocks from SEC and other regulators which promote heavy sell-off, although profitable for me as Hotforex allow short selling without coverage. Withdrawals requested in morning usually processed same day, though I prefer to use their card for ATM and purchases.

What I would really to see in HF is extended hours for weekend since other exchanges operate this days and I love tiny liquidity that times which create sharp 100+ spikes, i.e. easy profit for short sellers. Decreasing spreads or introducing fixed commission would be also appreaciated. Hope HF reps are here and read reviews and listen to their customers. AAA broker.
Mike Chong,
Makati, Philippines,
Aug 13, 2018,

Its working just fine

This is my take on my hotforex experience. I do use their services as a secondary broker with a decent sized account. Pls do note this is based on personal experience and by no means a standardized form with dealing with them. My account set up with most brokers I deal with (I do trade with 3 brokers) is simple, manual trading, mostly technical, widely around the USD pairs (USDJPY, AUDUSD, EURUSD etc). The broker is standard in terms of opening an account, documentations are required, account verification is a must before anything else, and for first time forex traders, do use demo. The platform is mt4, response time is good, not perfect but I would still say its good. spreads are not my favorite, they are good enough to allow scalping though that's a plus. modes of withdrawal are many, there is skrill neteller and other third party e-wallets, they do have their own hotforex debit card and there is the good old (not so popular) bank wire. withdrawals take up 48 hours and at times even faster except bank wire I think its 10 working days. total time spent using my hotforex account is roughly 2 years and its doing well.
Note: I have to reiterate, this is my trading we are talking about and on my end its pretty straight forward, simple and manageable. I can not talk for everyone else and to be honest some claims are out of this world.
costarica, Costa Rica,
Aug 10, 2018,
Registered user

withdrawal scam

Hello friends I have a problem with hotforex withdrawal too

i requested a withdrawal for 417.52

the bank only received 337.52

the charged me a comission of $20

but hotforex is not giving me explanation on the missing $80

they are blamming it to the bank, which does not make sense the bank only received 337 what can i Do??

the only way to contact them is via email and they never reply, on the phone they say they have no info

Did i just lose $80 bucks like that??

help please
somewhere here, Brunei Darussalam,
Aug 9, 2018,
Registered user

scam broker

Who give this broker 4 star..the most scam broker ever..dont trade with them..better open trade with other broker..stay away from them to save your money..go for a different far i have no problem asking to withdraw from any of the mentioned broker..HF not the same as they were before..they have turn to the dark side..RIP past HF...
Chakwal, Pakistan,
Aug 2, 2018,

Overall trading experience: Four years. Opened demo account with this broker in 2016 and live afterwards. No specific hurdles with verification, i got verified right after two days by submitting utility bill scanned copy and valid govt ID. Trade execution is stable even trades can be done during news with good spreads. Live chat on site is also a ready feature to discuss queries rather writing emails to support. Last but not the least they process withdrawal within as low as one business day(except wire transfer$). Hotforex is quite reliable and is highly recommended.
Singapore, Singapore,
Jul 24, 2018,
Registered user

I had a situation where i thought Hotforex had charged me an additional amount of 300USD. I emailed my account manager but received no reply regarding this. I was very lucky i found that that it was an error on my part. I'm worried that what if it wasn't an error on my part and HF had really over charged me? Who can i reach out for help when my account manager is unresponsive?

Not saying HF is a scam now or what but i really hoping it wont go that way later.
The Anh,
Ho Chi Minh, Viet Nam,
Jul 10, 2018,

Decent broker in years

I started my trading career with several local brokers from 2016 and I knew this broker through a seminar. This is my first international broker, hence I was stuck with funding and verification process because of lacking essential documents, finally it's resolved but you should prepare ID card and an utility bill or bank statement before opening account with this broker for verification. This broker offers various account types from variable - fixed spreads. The spread on major pairs are pretty good on both account types but the spreads are only acceptable on exotic ones. Regarding payment, funding is processed instantly and withdrawal normally is processed under 24 hours (depends on your payment method and your request time). So far I have traded with hotforex around 2 years and no critical issue occured except you can face delay execution in volatile condition markets. If you are looking a reliable broker that requires initial fund under $200 then this should be the one you are looking for!
Warri, Delta State, Nigeria,
Jul 8, 2018,
Registered user

I believe I have found broker I have been looking for. Having their office in Nigeria makes deposit so easy and transaction cost so low. They have fantastic support, both emails and chat line.
I have no rating for now, ( forgive me ) until I test their withdrawal.