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HotForex Broker Review

  • For how long the company is in the market?
    • HotForex is in the market since 2010.
  • What are the main advantages here?
    • Here you can trade not just from desktops and mobile phones, but from Ipad aswell. Broker offers advanced trading tools such as autochartist.
  • Did you find any reasons not to work with this broker?
    • Not really. We made a research all around the internet and did not find serious occasions except ones that are listed below on this page.
  • Does HotForex have swap-free (Islamic) accounts?
    • Yes, HotForex is suitable for Arabic traders.
  • What is the minimum deposit amount?
    • It is possible to start trading with $50.
  • Is this broker regulated?
    • Yes, HotForex is regulated by the CySEC in Cyprus and licensed by the FSB in South Africa.
  • Anything special about spreads and margin leverage?
    • HotForex offers primarily variable tight spreads, but they also offer a specialized fixed spread account for scalpers and automated traders that equates to Interbank spread prices. Leverage also varies by account classification. For Micro, Premium, and VIP, leverage conditions are respectively 1000:1, 400:1, and 300:1.

Video review

 

Suspicious reviews that we found

Wasted me 2 months for a verification that with other brokers took 2 days and they said that won’t accept documents from father’s name.
And beside that I was sending multiple documents and had to spend some money to get some bills and copy and to send to them and they always had some excuses like isn’t visible, isn’t bill proof blah blah..
And recently when I send an Internet Bill Proof they said it would be approved and in fact it didn’t and after asking me to provide another document for me it was absurd to send another and didn’t send any other document so they tried to call me back and email, but didn’t replied to them.*

*We found this review on TrustPilot. Client had issues with onboarding.

Reviews about the broker

  • Jacobson

    Good customer service,low spreads,fast withdraw without problem,use for 3 month.

  • Mark

    Used for one month only so far. However very good service, customer contact etc Easy deposits and excellent spreads and execution
    Feel this broker is working with you rather than against. But time is the essence.Will review after 3 or 6 months to clarify.
    Would recommend to anyone wanting straightforward broker with good customer service.

  • Rainer

    I have there many accounts, and you are right about the disconnection, but this is the first Broker I have who payed back all losses what had to do with the disconnection.I had many dicussions with them, and now I know, that this is not an error from the Broker, this is one of the Liquidy-Providers, who make this, and they anre now cjanging them. from next month they speak this problems are passed.
    But at first is important, that they have a good service, and every Problems can be solved very quickly in the Live-Chat.

  • Johnnykanoo

    I would like to change my rating. Hot forex sucks! Now that they have given me the boot for being a US citizen I am having a difficult time getting my money! They made me jump through hoops, by first signing a form, than getting a letter from my bank, than faxing my id and now it has been almost 2 weeks and my money has not made it to my bank yet!

    Buyer beware there 50% bonus is bull shit too!!! They want to intice you into over leveraging yourself which puts you into a position of poor money management (#1 account killer)

  • Thando

    So far its a great broker, been with xm, td markets before but believe me hotforex is simply great..will add the last star once I have made a withdrawal for now I really like this broker.. No huge slippage no funny business, instant deposits and with no fees at all

  • Zac

    Until thursday 3 august, I had a Previous Ledger Balance or $ 913,48. On thursday I was winning big, almost $ 1700. At 2.25pm (swiss time) they stopped all my trades. My account was blown down to $ 5,10!! I was away and checked the account only in the evening. I was shocked and wrote an email for clarifications. Here their awful reply:
    “Dear Client,
    Thank you for your email.
    Kindly note that after investigating your request, we have concluded that your Trading Account 2008024 was correctly stopped out due to the market moving against you”.
    They are scammers, as in effect they stole my money. I just want to see if they will reply. STAY AWAY. Needless to say I can change my review if they give me back my money, but they won’t.

  • Goldie

    I have used Hotforex for 4 years now. Very reliable – I have tried a dozen other brokers too. Happy with my experience on Hotforex.

  • Ian Wright

    Trading for the past two and a half years as of now with this hotforex broker and since I have seen a lot of major improvements in their systems. I started back in 2015 where I traded demo account for around one year to learn the right forex trading strategy. Currently I am trading manually as well as running an EA over hotforex MT4 and making much more daily returns on average basis. The spreads and server execution is stable and fast too which helps a lot in initiating trades instantly. Profit withdrawals are easier however they sometime do call me to verify my withdrawals which are above $500.

  • AndyQuant

    I like this broker as compared to my previous brokers (fxpro and alpari). No slippage, fast execution, low spread and higher rebates for cashback. Although, withdrawal is not quicker compared to the two brokers i stated.

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