Fresh HotForex review that helps Forex Peace Army traders invest safely

3.738 · 525 REVIEWS



Updated: Oct 15, 2021 ·  · 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.

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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.

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:, +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
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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3.738 · 525 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

bang Nur,
bandung, Indonesia,
Sep 28, 2010,

this broker...instan exsecution, low spread...i like It
Andrea Chan,
New York, NY,
Oct 3, 2010,

I'm glad that I've registered with HotForex. They promptly responded to all of my requests, showed friendly and professional attitude and provided quick and nice service. I'll definitely stay with HotForex.
Ahmed Aman,
Nov 12, 2010,

Hot Forex has a very strong technical support. And speed in responding to customer
K. Athens,
Northern California,
Nov 24, 2010,

I am glad that I have come across Hot Forex. They have an exceptionally strong technical support team and their overall business approach is superb. As a a relative neophyte in this, I am so glad that I have been using Hot Forex.
Nov 25, 2010,

very tight spread, perfect for scalping and news trading wth free profitable signaling services
J Kiley,
Nov 28, 2010,

Excellent tight spread and service.
Mahesh Kumara,
Sri lanka,
Dec 1, 2010,

Good brokers in the forex market. Low spread,grade online support,
Jan 3, 2011,

I am changing my review.
Lately there has been significant slippage, they freeze account at news reports and now they up the stop loss, take profit minimum to 15 pips at news reports.
Also there are many loss of signal events.
Too bad the spreads are good.

2010-11-21 5star So far So good. Very low spread. Fast execution, no slippage so far. Hope it keeps up.
Jan 4, 2011,

Hello Hery Barata,

I trade with and the reason why you didn't receive your bonus after your withdrawal was that you did not meet the volume requirements. For every 5$ bonus, you must trade 1 lot. In order to receive your bonus, you had to trade $1000/$5 = 200 lots. You didn't think you actually could get the bonus and just run away with it, did you?
Dirk D.,
Nevada, USA,
Jan 7, 2011,

A friend trader mentioned HotForex to me! Beside the good reviews in some of the big forums, I was very skeptical in the beginning since they are new broker and because of their jurisdiction.
I tested them with 500 USD and I was amazed with their service and support when I opened and funded my account. Even when I tried to withdrawal some of my profits they sent me a receipt that my credit card was refunded.
The same goes with their trading conditions, leverage up to 1:500, low spreads (EUR/USD: 1.1-1.8) and super fast execution! I am trading Forex for the last 6 years so I have been around with many brokers and HotForex makes trading very easy. On trading news you do get some slippage and since they are STP on times with low liquidity the spreads tend to widen and that proves their existence as STP brokers and not market makers!

Last week I have refunded my account, this time with 5K and I am using their CurrenX feed with super low spreads (EUR/USD:0.6-0.9). Even when I had a problem with my internet provider (ComCast) and I wanted to close one of my positions, I spoke with George (manager) and immediately closed my position.
After speaking with some of the managers I realized that the people behind this young brokerage are very experienced and tend to find time to assist traders.

I will continue trading with HotForex and I will recommend this brokerage to other traders.

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:

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:

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.