HotForex Review

3.714 · 517 REVIEWS

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Updated: Jun 15, 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, FCA #801701
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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3.714 · 517 REVIEWS
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Traders Reviews

elangakurichi, India,
May 4, 2021,
Registered user

Hotforex scam my fund

Service use: Live

Length of use: 0-3 Months

Today i deposit fund 100 usd via Perfect money.. but fund not loaded my account.. i live chat person.. he asked proof my account.. I send two time.. but fund not loaded my account.. and no more action.. hotforex scam my fund..Beware of hotforex..

My HF ID 21061
  2 traders have found this review helpful
Josephtamayo,
Sta Rosa, Philippines,
Apr 15, 2021,
Guest

a good forex broker

Service use: Live

Length of use: over 1 Year

total forex trading experience is 3 years, 1 year and two month with hotforex, over all experience is good, good options to choose from, from crypto to currency pairs, very active support with good marketing materials, its not a secret they are very competitive in the field on forex trading. im pretty pleased with the service they provide, but as the saying goes dont put all ur eggs in one basket just to be on the safe side. Hotforex is relatively reliable never the less. charting can be done through the platform of through other means, doesnt matter, im sticking to mt4 and response time is very good, order execution is reliable. good for scalping, swings and long term trading, do keep leverage at a manageable range, I wont recommend high leverage to any one anyway. and good luck everyone.
 
Japan, Japan,
Apr 5, 2021,
Registered user

Close account nit paying.

Service use: Live

Length of use: 0-3 Months

I want to close the account and do not want to pay, the minimum withdrawal is 20 USD at another broker I had the same problem, but it was closing the account, they paid, hotforex is scam
  2 traders have found this review helpful
Hung Tran,
HCM, Viet Nam,
Apr 3, 2021,
Guest

Credible international forex broker

Service use: Live

Length of use: over 1 Year

I've started trading with this broker from 2019, after taking part in their VIP Contest. Overall, this FCA regulated broker is pretty reliable, they provide you most basic things an international forex broker normally have as various account options, payment method also advanced serviced as VPS or VIP account manager. Besides, this broker also has daily insights on markets and regular contest, don't try their demo contest, it's impossible to take any prize. The bonus program is optional that I don't recommend for new traders, that would affect your trading decision. I rated 4.5/5 star for this broker.
 
WaqasHafeez,
Pind Malka, Pakistan,
Feb 18, 2021,
Guest

Swift withdrawal and fast trading

Service use: Live

Length of use: over 1 Year

Trading for the past one year with hotforex broker. The server execution is good in my opinion and i usually use limit orders for my trades. Overall performance is satisfactory and withdrawals are processed on time. The ast trade i took was on Tuesday shorted gbp and eur in New York session and it went very well. It is a good broker in my opinion
 
Colombia, Colombia,
Feb 14, 2021,
Registered user

ASSAULT BY ARMED HAND

Service use: Live

Length of use: 0-3 Months

Why dont you people gather a gang with pistols and start to rob?

30 pips of gap?

they change the gap frquently, you cannot leave open operations and go to sleep with peace, they will increase gaps to make you lose
  3 traders have found this review helpful
Den Sinas,
Batangas, Philippines,
Feb 2, 2021,
Guest

Positive

Service use: Live

Length of use: over 1 Year

its a retail trader friendly if i may say, good spreads on eurusd and gbp pairs. good number of pairs to choose from, deposit and withdrawals are easy, havent had any trouble in my 1 year trading live with hotforex, I made a good sum on btcusd as of late and was able to withdraw with no problems, its a good start for 2021.
 
Grodno, Belarus,
Feb 1, 2021,
Registered user

Previous review UPDATE

Service use: Live

Length of use: over 1 Year

I was contacted by HotForex representative. With his help the issue was resolved and money deposited successfully in about 30 min.

Jan 28, 2021 - 1 Star I am an old HotForex client dating back to 2016 or so. Haven`t used their service for some time and was attracted back by many new instruments.
First of all let us see HotForex information about Bank Deposit:
"Important instructions before making the payment
To avoid any delays with your transaction processing, please send a scanned copy of the bank transfer payment receipt to deposit@hotforex.com
Make sure your myHF Account ID, Name and Surname are included in the Bank Transfer description."
So to make a deposit faster you just need to send info to deposit@hotforex.com. And if you are not, know what? They take your money to themselves!!! I made a transfer on Jan 05 and still no money. The support there is just to make standard answers NO problem solving.
  2 traders have found this review helpful
Philippine, Philippines,
Jan 26, 2021,
Registered user

Manipulating all may entry in eurusd

Service use: Live

Length of use: over 1 Year

Please fixed this kind of modus.. I am a trader and i know what kind of this broker.. Dont let your account blow.. Keep away in this broker..
  2 traders have found this review helpful
Ngoc Bao,
Ho Chi Minh, Viet Nam,
Jan 6, 2021,
Guest

Good PAMM broker

Service use: Other

Length of use: over 1 Year

I have been trading with this Broker since 2018. After 2 years, I decided to switch to PAMM because I don't have time to keep watching charts. HotForex PAMM is easy to use and I don't need to ask CS for any guidance. I picked some good PAMM and invest the minimal amount ($250-500). There were drawdowns but overall, I am making steady profit with HotForex PAMM. Recommended!
 

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.