HotForex Review

3.742 · 521 REVIEWS

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Updated: Jul 30, 2021 · HotForex.com  · Is this your company?

HotForex is a MetaTrader broker founded in 2010 and is regulated by FCA, SySEC, and other regulators. It offers 47 currency pairs, cryptocurrencies, and access to over 1,000 securities including precious metals, commodities, stocks, bonds, and stock indexes.  Mobile trading is offered with MT4, MT5 mobile apps as well as proprietary HF App (in development).

HotForex offers a social copy-trading platform HF Copy. Traders also get access to the client sentiment data, in-house produced market analytics, and educational materials including training videos, books, and articles.

Please read HotForex Reviews below and share live trading experiences with this broker.

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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3.742 · 521 REVIEWS
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Traders Reviews

pahang, Malaysia,
Jul 28, 2021,
Registered user

Willing to hear client's voice

Service use: Live

Length of use: 0-3 Months

Previously had issue with trades where there is a huge gap between current price and executed opening price. After file a report to them, their staff call me to figure out the issues that I'm facing and willing to give a good solution. Overall not bad, recommended.

Jul 23, 2021 - 1 Star When I place a trade sell somehow the entry place is like 20 pips below the current market place, making me lose 20pips instantly.
At times when I see I'm having profit and I chose to close my trade, the closing price is hell so far away from the actual current trading price, ends up to be a losing trade. Hello?!?!?! Are you serious, it's a winning trade but when I click close it turned out to be negative trade. No way this kind of broker is regulated, they are manipulating your trade in any ways they want just to rob your money from you!
 
Burgersdorp,
Eastern Cape, South Africa,
Jul 16, 2021,
Guest

Compliment

Service use: Live

Length of use: 6-12 Months

HotForex to me has been super cool on everything according to my personal experience with them. I would highly recommend it!!!
 
elbehira, Egypt,
Jul 8, 2021,
Registered user

A perfect broker

Service use: Live

Length of use: over 1 Year

Actually , i have a real trading account in Hotforex, numbered 66020332.
In fact, HOT FOREX is the BEST BROKER I HAVE EVER SEEN......
everything is perfect, MT4 is very accurate, very fast executions, True and very accurate candle sticks, no slippages, no elevation of spreads at times of important news.
withdraw is very fast.
the client area (my HF ID PAGE) is too reliable and everything is clear and very uniformed
supporting team and live chat are very helpfull......Actually, an excellent broker
 
Sang Do,
HCM, Viet Nam,
Jun 26, 2021,
Guest

FCA broker choice

Service use: Live

Length of use: over 1 Year

I knew this broker through a friend and I researched carefully before opening an account (my ID is 2xx75). Through years, this broker keeps acquiring licenses (also FCA) and I haven't seen any hassles with my trading, fund and withdrawal except my trading ability. I believe any forex traders can find this broker reliable to trade. Recommended!
 
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
  4 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
  4 traders have found this review helpful

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.