HotForex Review

3.739 · 525 REVIEWS

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Updated: Aug 19, 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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3.739 · 525 REVIEWS
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Traders Reviews

Huynh Duy,
HCM, Viet Nam,
Aug 18, 2021,
Guest

Safely recommended broker

Service use: Live

Length of use: 3-6 Months

After 6 months with this broker in total 5 years of forex trading, I can safely recommend this broker for everyone. Good spread and fast support (even live chat). They have attracted bonus programs but not easy to claim so please read bonus terms carefully before opt-in. Various trading assets and payment methods, overall a decent broker!
 
Haider Ali,
Faroqabad, Pakistan,
Aug 17, 2021,
Guest

Decent trading partner

Service use: Live

Length of use: over 1 Year

As per my trading experience with this company I have came to a conclusion that they are very decent trading partner when I rate their services like order executions, spreads, profit withdrawal etc. I am using the micro account for two years and the leverage is also perfect.
 
Gamboa,
Laguna, Philippines,
Aug 12, 2021,
Guest

first withdrawal

Service use: Live

Length of use: 3-6 Months

I just made my first withdrawal Aug on 11 2021, amounting to 1500 usd via neteller, it was processed yesterday aug 12 2021 and was in my account at 6:00pm (+8GMT), total live trading is 4 months with this broker, over all I think they are pretty decent, they do offer a pleasant experience, active support, Im yet to hit my roi, hopefully in a couple of month and then i shall update my review when that happens.
 
Rustenburg, South Africa,
Aug 10, 2021,
Registered user

Price manipulation.

Service use: Live

Length of use: over 1 Year

Early on 10/08/2021 at 9 am (GMT+2), I checked Hot Forex charts to see if I can deposit a few dollars to take a position on my favorite pair (EUR/USD), when I opened the chart I saw a huge spike to the downside on the H1 and H4 charts, and I just thought to myself that it was a news driven move and then I decided to wait and let price break above a descending trend-line.

In the evening at 8 pm (GMT+2) I checked the charts again to see if price had broken my descending trend line only to discover that the spike had been removed on H4, here is the proof https://i.postimg.cc/0Nxqw9wd/Screenshot-20210810-200726.png and other time frames except on the H1, here is the proof https://i.postimg.cc/vTDyZX6J/Screenshot-20210810-200713.png .

I got suspicious and went on to check charts from other brokers, specifically FXCM and Exness respectively and such spikes did not exist, I'm glad I saw this activity from HotForex early and I was not in a trade when they commited this fraudulent act. My account number is 430797. I am heartbroken, scared and swear to never work with this broker again.
  1 trader has found this review helpful
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!
  1 trader has found this review helpful
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
  5 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.
 

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.