Fresh HotForex review that helps Forex Peace Army traders invest safely

3.72 · 526 REVIEWS



Updated: Oct 19, 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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3.72 · 526 REVIEWS
Forex Peace Army

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

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Traders Reviews

Eleni Diomidous,
New York, New York,
Jun 5, 2011,

Good broker with tight spreads and lots of products such as their new webtrader.

Having read all the negative reviews about different brokers i was skeptical of opening an account with a retail broker.

Opening the account with them and funding by Web Money was executed within 10 minutes. and the support that i needed thus far was exellent.

I haven't had any execution problems and I also enjoyed their Trading Signals
Jun 6, 2011,

First I opened a Demo account with HotForex it was really easy to start trading. Now I am trading on Live account: excellent support and service, low spreads, fast execution, no re quotes and I like the new web trade room.
Jun 11, 2011,

It is all about trust, so far I am happy with HotForex in both Execution and Financial terms
idaho, usa,
Jun 23, 2011,

i made a deposit for 90 on my micro, during their instant deposit hours. because it said it went through, but did not actually add the balance to my account yet, i lost almost all of the money in my micro account with them because.
R. Mann,
Jun 30, 2011,

I opened a live account with HotForex over 6 months ago. I've been very happy with HotForex so far! It's an excellent broker with good customer service, fast execution, and good spreads. I also got my first $5,000 withdrawal from HotForex the other day. There was a "minor" mix-up at first (I don't want to go into any more details than that), but the HotForex team and Vinny (my IB) came through for me and got everything taken care of to my satisfaction. Thanks for all your hard work guys!

Balazs Lendvai,
Budapest, Hungary,
Jul 5, 2011,

One of the best forex broker i ever tried. Low spread,very good online support...
Ian Robertson,
Jul 7, 2011,

Great broker, best customer service in the business! Execution is great with large positions and had my withdrawals proccessed on time as promised! Looking forward to trading with Hotforex for years to come!
Filippo Dasaro,
San Francisco, CA,
Jul 8, 2011,

I have had an account with Hotforex for about 2 weeks now. I will hold off on a rating until I have some more experience with the broker. But from what I can judge now, the platform is very good. Execution is fast (a lot faster than my previous broker), no commission, spreads are good, and first deposit was relatively quick. The 50% deposit bonus was awesome. The support could be a little better as I could tell many are non-native English speakers but I haven't had to use them for anything major. Overall I have had a good experience with this broker and will certainly be staying with them in the future as long as things stay the way they are.
G. Krastew,
Jul 13, 2011,

Great broker!!! I have been trading a standard account at hotforex for almost 6 months and I am very happy with their service. Customer support has been always quick and accurate to every single issue or question I had. I have never seen that on another brokerage and I am trading for almost 4 years now. I just made my 3rd withdrawal via MB and it has been done in less than 2 hours!!!!! I will be recommending hotforex to all of my friends here!
Hery Barata,
Jakarta, South East Asia,
Jul 14, 2011,

Been trading for 6 months now with Hotforex. Overall their service are better than average broker.
- customer service are superb
- fast deposit+ withdrawal via wire transfer (only 2-3 working days),
- good bonus 50% !
- tight spreads, etc
Unfortunately, still have one weakness :
- when I attached some indicators + trading system templates, their platform become slowly both open charts and execute trades.
Compare with other brokers : Alpari, Thinkforex, Forexoma, FXCM, they all don't have problems when I attached basket of indicators.
I only hope Hotforex will improve their server in my country area.

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.