Fresh HotForex review that helps Forex Peace Army traders invest safely

3.719 · 527 REVIEWS

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Updated: Nov 18, 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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3.719 · 527 REVIEWS
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Traders Reviews

Michael G,
NC,
Mar 14, 2011,
Guest

I opened two seperate account with Hotforex around a month ago and so far so good. Trade execution is fast, never saw a requote and I made my first withdrawl today and it was painless and without fees (well alertpay did charge me 50 cents!! hah).

Love this broker so far, their chat support can be iffy from time to time but I was assigned an account manager who is quick to answer any and all questions.

Michael

 
Tim,
Oklahoma,
Mar 28, 2011,
Guest

After writing a letter to HotForex explaining how I didn't feel they should charge me for trades that went bad due to the server upgrades, they promptly wrote back and told me they would credit my account those trades to zero loss.
I'm bumping these guys up to 4 stars. Should the upgrades go through fine and they get the bugs worked out, I may bump them up to five. I've really been impressed with their customer service.

2011-03-25 2Star I run robots on my account and know what the ranges are they use before they take a stop-loss or t/p. I can count at least three instances in which I came in to look at my account running and noticed some of my trade losing money way beyond their stop-loss and would notice that the server time on the Marketwatch was frozen even though the platform seemed to be working otherwise. I have never had this happen to any other broker. ODDLY, I have the SAME EAs running on demos of theirs I am also running and the server time freeze was NOT happening. It is my understanding that many EAs rely partially on the server time to be running in order to function correctly.
I chatted with the chat service and they were more than helpful and told me they had server problems and that they were having it looked at. When it happened today I requested a refund for those lost trades. They gave me an email to request that. I haven't heard back from them yet.
The online chat is pretty quick and they are helpful and knowledgeable but I'm really feeling something is just not right here. I cannot fathom how only my LIVE account would have their server time-clock freeze yet I'm still getting tick data in my charts. I also cannot fathom how none of five demos I also have running with HotForex are not experiencing server time freezes like my live account. I'm not saying there are shenanigans going as i will be the first to admit that I am not an expert on the inner workings of server technology, but a problem like this could have blown my account if I had not been there to catch the problem early and close the trades!
If this happens one more time I'm going to withdraw my money which will be a major disappointment for they had a nice joining bonus and I joined through cashback and get money from that too plus they had the kind of account I wanted.
 
Sotiris ,
Thessaloniki, Greece,
Apr 8, 2011,
Guest

I opened an account with Hotforex and i am glad i did. No requotes, good spreads and very good support. Hope they keep it up.
 
Daniel Luhat Wan,
Malaysia,
May 1, 2011,
Guest

This is the best broker so far after after letting my real money run in it for 3 weeks now. This fabulous broker doesn't disturbing my EA to performed well, at all! Shocking differences compares to the previous broker that kills my money and EA. Hotforex is friendly to me.
 
Mark Smith,
UK,
May 17, 2011,
Guest

Hotforex is the best broker i have been with. I trade forex full time and have alot of money in hotforex. I have been trading live with them for 2 months now and i can see that they are a non dealing desk stp broker. All of my withdrawals were done the next day as promised and the support is fantastic, i will be with them for a very long time!
 
D,
United States of America,
May 23, 2011,
Guest

I went with Hot after reading all the good reviews. Bad idea. Inconsistent customer support and too many requotes. Switched brokers after 2 months. They did allow withdrawal without too much problems.
 
Jet,
Singapore,
Jun 1, 2011,
Guest

Good:-
Fast open account, funding, good spread, huge bonus
Bad:-
Slow reply email (maybe in some reason), no gold or silver trading, not suitable for news trade, slow website
Sad:-
They promise to provide free myfx platform if fund USD2000 and above but when my account is in profiting i email them regarding the platform but no reply until i contacted live chat 2 times then they get back to me by email but that time i'm losing and balance below USD1000 and they said "your account with HotForex must have a balance of minimum $2000" then eligible to get a free myfx platform!

Sound what?? You all judge! Anywhere the platform only worth USD249 and still have plenty brooker is provide free if open a live account with them and i almost blow my account with them within a month so decided to leave it! Good Luck traders!
 
babusalam,
indonesia,
Jun 3, 2011,
Guest

if wanna make hot profit lets try hotforex...its always hot..i have no problem with hotforex since i use them somewhere january this year...thier customer service is execellent....now hotforex is my prime broker....
 
Georgios,
New York,
Jun 3, 2011,
Guest

I am glad i signed up with HotForex. No requotes, good spreads and great live support. Keep up the good work.
 
Sujee,
Sri lanka,
Jun 4, 2011,
Guest

a good broker.customer service and every things in a great higher level.
 

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.