Home > Forex brokers reviews > HotForex Reviews
|My trading experiences with this broker overall is good. Deposited 1000$ last Sep and traded on their premium account, the trades executions were so fast. But I recommend you to use pending order to trade. The withdrawal requests are always processed in 24 hours.||Sammo||07.12.18|
|SCAM||Hotforex is a bad broker |
1) not secured internet communiction as advertised. no https
2) poor customer service. I called them to active my withdraw, and no one answered the phone and replied to my message. the account manager is hard to reach.
|SCAM||Hotforex execution is Terrible . If you are a real trader then i suggest you not to be with this scam !!||Nathan Waterhouse||07.11.18|
|SCAM||Stay Away from Hotforex , deposit is very easy and withdraw is too long and s*cks...||Estevan Silva Lima||26.10.18|
|SCAM||Hello everyone, just want to tell you all that, hotforex is a real scam and i tell you why....they will shut down their platforms,servers,website and telephon when there is a big move and big trade in the Market. They do it almost every week, I had an account with them and lost over $1500 because of this.||Medoro Charest||14.10.18|
|Trading with this broker for about a year and just made another withdrawal last week through Skrill. My withdrawal was stuck and I contacted CS to urge it. They told me I need to confirm withdrawal through phone. The day after, I got the phone from a local language hotforex staff to confirm the withdrawal. Not a big issue as I withdraw many times before but I don't know why they suddenly did it.||Geogia||12.10.18|
|Just switched to hotforex after losing 800 dollars with a local broker who charged me 20 dollars per lot of commission. I am still a newbie so I don't know I am dealing with a scam broker. Through forum, I know this broker.|
Hotforex is now charging my only the spread and its cheaper. Fast payment and some other advantages. I recommend its service for new trader.
|I knew Hotforex from FPA, and tried demo accounts to test system firstly. Now have traded with this broker more than one year, I have to says that their execution and spreads are better than previous broker. Most important is that withdrawal always can be processed within 24 hours, so 5 stars.||Huajun||23.09.18|
|Had a lot of issues with my brokers before, but things changed when I started to trade on Hotforex. Their Premium account is very good for long-term trades and zero spread account adjusted perfectly for scalping purposes. Spreads are flexible, raw, with markup, fixed spreads so besides of building your own strategy you can additionally try it with different charging schemes. Like that broker 5 from 5, they really deserve it.||Anis Pedro||18.09.18|
|In the upshot I found the broker that pays profit. Without runarounds, delays, and other mean tricks.. I have been scammed twice but I laid my account on with Hotforex and it was pure right choice. I pledged small amount of 150$ to test them, now I am planning to input there about $3000 to set off my next part of my trading career - professional. Happy as a king with them||Duran||19.08.18|
|Nice broker with various kind of account and good trading environment.||jun||09.08.18|
|withdrawing is fast, very safe and making money with them is easy, no need to worry to much about other stuff, the only thing a trader should worry about is his trades, spreads and execution are good, the mobile apps are really fun to toy with but I'd suggest sticking to MT4 when doing the charts. this is how a broker is suppose to be like.||good place to earn||01.08.18|
|nice broker with a set of good services, fast execution mostly, avoid big news releases, its reassuring being regulated by bothe the FSC and CySec, and moneywithdrawals are fast compare to other brokers, usually with 2 days if not 24 hours. I recommend them.||Dino Surat||31.07.18|
|Hotforex was suggested by one of my friend. I have account with them from so long time and I can proudly say that I made the best selection. Low spreads and fast withdrawal are the reason why I like this broker most. I would recommend hotforex to all.||Siddik||31.07.18|
|an exponential broker, with a good number of services, platform stability is very noticeable and support are well mannered in all 4 times that i talked to them, only had one withdrawal using payoneer and it was pretty much instant with 4 dollar fee. i love how things are going so far and they do live to their name. a very good broker indeed||Sandy Nangyu||24.07.18|
|SCAM||Hi Fellow traders|
I am trading with hotforex from 3 years. I thought to give my reviews again, during my trading with hotforex, i used to have issues with them,every broker has issues but good thing with hotforex was that they used to care for their clients and always step up to sort out this issues but this is not the case anymore. It looks like they have made much money and don't care for their customers anymore.
My review, observation and personal experience is as follows:
1: Let me start with their claims of being ECN/Stp broker which they are clearly not. They are market makers, another bucket shop to rip your money. What i recently found out that you can't place orders one minute before news, An ECN/STP broker will never put restriction on it. They give you real market conditions.
Secondly you cant place orders between bid and ask price, which is example of market makers not STP/ECN, A market maker will never want you to success, your success is their loss. So decision is yours. :)
2: I always have issues of spillage with them, whenever you close your trade, one or 2 pips goes against you. Sometimes there were big spillages in price, which they fixed it. But even one or 2 pips are enough to less your profit or increase your loss.
3: On one side hotforex claim for so many awards from this industry but on the other hand, they are total failure to provide real market conditions to their clients. Their equity market close 5 mintues before bells rings in USA. So they are nigthmare for day traders like me. When I asked about it, they said, they do it for clients to protect from bad reputation. This is not professional approach as there are all different type of clients, day trader, long term, etc. In this market, even a single second is matter, when they close feed 5 minutes before market close in actual.
4: in past, they also suspended my account when i tried to withdrew money because amount was big, and they used dirty tricks. That matte was solved, but i know how i spent a week in full tension. So they are good, as long as you lost money but when you make money, so there will be many issues. Be aware of it.
5: They dont care for their loyal customers anymore, its very difficult to get hold of their managers or directors who are the decision makers. Companies downfall start when they start to loose their clients, today they are loosing me, i did trading of thousands of lots with them and just in commission, they make 350K plus. But they dont care anymore.
6: They require a lot of paper work when you deposit money with new card, I did deposit very large sum of money with them, but recently they hold my funds for hours at critical time when i need to do trading,due to paper work. They did not care that how much money i deposited and still doubt on my credibility. Thats ridiculous.
I would advise you guys not to open account with them or trade with them, only do if you want to lose your money.
I am going to close my account and not to keep any relation with them because they are proving to be another bucket shop now, who only wants to take your money.
|I am trading with these guys for a long time now and i can surely recommend them as safe broker with tight spreads and the withdrawals are executed without any hassles. The trading platform is user friendly and they have a cooperative customer support too.||Salik Pasha||22.07.18|
|Beautiful platform got last NFP slipped only for 10 pips! Can you imagine? It's amazing I believe this features could be only possessed by true STP broker, feed comes from some strong LP. Now I use their 0 spread account, they don't have markup there what means a lot for scalper, believe me or not it's a best broker I ever traded. Highly pleased with trading services there. Keep up with a good work Hotforex!||Said Abdul||02.07.18|
|I knew this broker through my friend's recommendation. Because many people talk about the common problem about withdraw and customer service, so I pay special attention on these two questions, until now I withdraw three times by skrill, and each withdrawl are compelte within one-two days, and Chinese customer service are available to solve language problem. Not very long time to trade with it, so maybe need more time to observe.||Zi Xia||23.06.18|
|SCAM||Hotforex is SCAM regulated by a useless regulator FSA Mauritius that don't reply to complaints. It took me 8 months to withdraw $2200 from the worst broker hotforex. Stay away of the scam hotforex.||Jorge||18.06.18|
|I am trading on this broker with my EAs and I'm totally satisfied as compared with my previous brokers. Fast execution, low spread and higher rebates. Only once I experienced an issue, I cannot set stop loss for a trade, I thought it's cuz the server was busy on that time.||Net Huy||04.06.18|
|SCAM||hotforex a cheat broker, they stood on nothing, hotforex is a market maker, because most its clients had bought eurchf before snb cap remove, hotforex was on the other side of their positions, that's why they won when clientslost, actually hotforex have a dealing desk, they do not process orders to real market, i experienced that in my 6 months trading on hotforex premium account, it's for sure a market maker type of execution account, bad slippage and delay in execution for up to a minute!!||Yiannis||26.05.18|
|I`m very satisfied with hotforex till date but unfortunately they are not providing any pairs associated with INR. If they start to provide this pair so I`ll give them 5 star for sure.||Suresh||19.05.18|
|As a forex trader, I have traded with HotForex account for 6 months, with professional service, quickly customer service responsive speed, low spread and stable system, it highlights among so many forex brokers. I’m enjoying with HotForex, and meanwhile the professional market analysis about latest and hottest economic event always used as my trading guides, after these trading experience with HotForex, I think it’s a professional and reliable forex broker.||duxing||12.05.18|
|SCAM||Had a VIP account with hotforex for 6 months, hotforex hate profitable traders, when weeks run and hotforex finds the trader to be consistent in profits, hotforex shows its bad side, offquotes, requotes, fake spikes to fill SL. If you are a loosing trader, hotforex will like you, for all others stay away of hotforex cheats.||Lucas Jansen||12.05.18|
|SCAM||I've been trading with hotforex for 4 months, can assure all that hotforex is a big scam broker. Hotforex manipulate its platform prices, hunts stop losses that costed me $750 in losses. Hotforex market maker action never ends until client account loose.||Cesar||10.05.18|
|good trading, fast response from paltform and withdrawals always on time.||Lim Kate||08.05.18|
|Plenty of choice in CFD's even EU stocks and some indices with a very competitive spreads. I prefer stock CFD's rather volatile currencies and find HF place best for my trading. Made only one withdrawal of 150 USD and it was processed really fast. Love this broker and will continue to trade with them||igloo||06.05.18|
|A nice broker with wide variety of customized accounts and bonus offers. The only broker with demo a/c contests and other monthly contests. Traded for five years now and i'm satisfied. They only need to work on the urgency in processing withdrawals.||Titus Muthama Muthoka||04.05.18|
|Trading since 2013 with them. Well, i would like to say that All the issues are always resolved quickly in this three year tour with them. My losses are always my part but whenever i placed the withdrawal requests, its completed on the same day and in the most convenient way. I don't know people says that we should not go long with Cysec brokers and all but still in past three years after seeing their behavior specially in resolving issues with their clients is the best customer support in comparison to others. I will keep update my withdrawals and other important things about them. I would like to give them 5 stars now. Thankyou HF Markets Ltd. Best Regards||Ankit||03.05.18|
|a very simple straight forward broker. and they are good. 9 months trading live with no issues. good job||Simple and straight||30.04.18|
|Regulated and reliable broker, I opened account with this broker for the bonus. Tight spread and fast execution, no requote. Recommend for everyone!||Robi||27.04.18|
|SCAM||Very Bad Broker, they canceled my IB account when I start making good money and stole my clients, Beware of them||Elias Khory||14.04.18|
|SCAM||Opened a premium account with hotforex 9 months ago, everything was working alright when my losses were more than my winnings, when i started to profit and winnings increased making my ROI 350% in a month, hotforex showed me its real face, off quotes when exiting my trades, re quotes when executing trades, wide spreads that filled my stop losses. I lost half my account after that running winnings due to hotforex dealing desk service.|
please be aware of hotforex bad bad bad broker.
|Very good broker with fast execution and also fast withdrawals. Their support is fantastic. I especially like their rescue bonus...||Vasim||04.04.18|
|I have been trading with hotforex for 14 months live and 1 month demo, they have improved drastically since 2012, there were some disconnection and they got it fixed, spreads are good , no issues with withdrawals, execution is fast, there is a very rare slippage during news outbreak due to massive movements, but so far i am satisfied with their services.||Anton||04.04.18|
|SCAM||Hotforex is Scam. Hotforex held my withdrawal request for a month and no reason, when warned it that I'll write my review on various forums, they processed it the next day ofmy email warning.|
I decided to withdraw my money after always negative slippage, how can stp broker execution be always bad for client.
Hotforex have a dealing desk manipulating platform prices and giving reqoutes.
Hotforex is a cheat broker
|SCAM||STAY AWAY PEOPLE. Its a broker from Mauritius which dont even have office. this country are famous for developing scammer. Lot of bad review about them. Stay away. Good review is only by their own representative.||jfx||03.04.18|
|I had been using hotforex for almost one year, i'd say it's a good broker with reliable service, currently I have a premium account there.|
My withdrawal experience is good, the speed is really quick.
The spread is similar for most brokers, however I don't care about this.
It was said somebody can get way much better spread in currenex account, maybe i will try it too.
The new myhotforex system is fully functional and it's easy to operate.
|SCAM||This bucket shop is not STP/ECN: do NOT believe their lying, thieving hype.|
They entice their victims with huge bonuses to sign on to their criminal schemes...only to SABOTAGE their trades and outright STEAL FROM THEM.
They do not honour their own terms of margin safety for your account. Supposed to be 20% stop out. Instead, they cite conflicting and criminal terms with their Bonus Scheme, and use that to justify STEALING/DESTROYING your entire account after being profitable against them.
GOD DAMN THEM ALL!!
|No doubt one of the top players in the brokers industry, they continue to improve with each passing year since 2010, I have joined them late 2013 and still trading with this broker, I have seen many brokers come and go and i have high hopes for hotforex to continue to excell, excellent broker.||George Han||24.03.18|
|better than what i expected, interms of smooth of transactions this brokers gets a 5, withdrawals are with in 24hours, and platform stability gets a 4, i noticed some ssmall slippage during volatile market but its pretty normal and i have seen worst, over all a good broker.||Sean||11.03.18|
|I have traded with hotforex about one year and I am satisfied with its trading environment (low spreads and fast withdrawal). No fee attachs with payment is another advantage. I highly recommend this broker.||Chris Vo||06.03.18|
|SCAM||Account number 269022|
Hotforex is a market maker, no STP broker like they claim to be.
Look at hotforex website, there's no liquidity providers names, I was hotforex client, when I asked account manager about who are hotforex LP's he said can't reveal the names, it's a secret!!!
How can't a client know who are the LP's of his broker when hotforex claim to be STP!!!
Hotforex scammed me $15000 after leaving my account to negative balance, how can an accoun run on negative margin!!
hotforex didn't apply its margin policy and hotforex gave me in one account $136000 of bonuses when hotforex bonus policy states $30000 is the max. per account.
Hotforex cheat investors by claiming to be STP but hotforex is giving market maker service.
Hotforex must be punished by regulators CySec and FSA Mauritius.
Stay away of the SCAM hotforex.
|This is the best broker so far after my real money run on 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 good for me.||wsop||17.02.18|
|I started trading last november with a test investment of 200 dollats, in comparison to previous broker hotforex is doing alright, spreads are ave execution is good, i have only made one withdrawal and it was on time. im pleased with the services and results, will continue with a micro account for a couple of months before transferring my funds.||excellent||05.02.18|
|just to be clear, same thing happend to me with regards to my withdrawal with LR or liberty reserve, RIS have you tried withdrawing your money through other means, like moneybookers, I think LR have been going through some UPGRADES as they say, but I decided to use moneybookers instead and i did get my money and the amount was fairly big (aprox $3200) and it was easy and i got it in MB in less that 24hours. best of luck and do keep us posted. |
speaking of arbitrage, i dont think there are brokers that would accept that kind of EA.
|haven't got my withdrawal yet, submitted on nov, 27, 2012. |
by this time i write this review, my withdrawal request already on delay for a week now.
they keep on saying the problem is on Liberty Reserve.
without saying when will the process be done.
not like what they've promise on their website about withdrawal process, the fact is very dissapointing.
i'm still waiting for my money, the money which is purely mine not them.
i put fund of $4,000 and i request only $1,100 but the money still on delay.
still have remain fund but i doubt to keep on business with them anymore, will stop using their service.
|Quasar Capital - you need to find a broker that accepts your arbitrage strategy! there are not many that do, have a look at Yadix, they possible can accept your arbitrage strategy. But my advice is always to ask first!||Jimmyfx||04.12.17|
|Finding a broker is easy there are tons of them out there, but finding a good one is not. I have been through two agonizing brokers despite them being known (back then), but I would easily classify them as irrational and a pain. The first broker I joined was a total bucket shop. It’s a good thing that it was just a couple of hundreds and I was just starting forex a couple years back, to cut a long story short I lost around 400 dollars and they won’t even let me withdraw my remaining 230+, that broker is long gone.|
After a couple of months I decided to join another broker, a European based broker with a good reputation (I won’t mention names since I have cleared my issue with them), I had a bigger capital ($2000) and was doing well in the first couple of months was earning a good number of pips from them, until I got a warning and had my account frozen for SCAPLING, I know some brokers do not allow it, but I do not even scalp, after some clarification, these guys said there was some suspicious activities in my account because of one bad trade that I closed in less than 10 minutes. I do not even know how they define scalping. I cleared that out and things went back to normal until I got my account frozen again, I’m not sure if its only me or does this broker not want me to earn. I am a manual trader I know nothing about EAs, I do position trading mostly and some small swings if I got the chance but still they said I was scalping. After arguing with them they were trying to cut my earning from my last couple of trades and settle with $200 which was around 30% of the total amount. I am just a trader and decided to agree, I don’t want any headaches so after closing my positions I decided to clear and close my account, and for some reason it took more than usual for them to send me back my money, but yes they did pay me after 3 weeks of waiting and arguing with their support, at least they did pay me but my point is why even start a forex broker if you don’t want your traders to earn.
The reason I’m posting all this is to show what made me join hotforex and hopefully they would stick to their slogan, I had enough of well known European based brokers, and I heard and researched some good stuff about hotforex. Though I have no issues with them so far but I will keep this review and updated it if anything comes up.
|SCAM||Hotforex deleted more than $200,000 in profits on my accounts from "prohibited trading." This after they tried over and over again to spike my spreads sometimes up to 25 pips on the majors AFTER 5pm EST fix and I said nothing. Most of my trades were open for several minutes to several hours. If anyone else was stolen from please contact me at quasarglobalpartners. I am filing a lawsuit, if that doesn't work I know where the owners live. I am ruthless. Steal from me and I put fear for your life.||Quasar Capital||05.09.17|
|I happy to hear that hotforex is now a member of the global board of tradet GBOT I have seen only decent broker listed with GBOT and only few, so when I saw hotforex which is the broker I am using since several month I feel more satisfaction and also I feel that my funds are on a good hands, I always been using 2 or 3 brokers at a time be recently I have let the others down and focused on hotforex and this made my profits clearly better than before, I think am gonna stick with hotforex as long as they are improving and serving their clients this way.||Azhar Musafir||23.08.17|
|I have not seen any problem with hotforex since I started trading with them, everything seems to work just fine in addition they recently started to promote their new products heavily and its all good for me and also newbies every body can make some extra money and trade with it thanks to their demo contest, referral program and bullseye prediction competition ! this summer is really hot with hotforex, I at the end want to let everyone know that their customer support is respectable and so friendly.||Ibrahim Seddik||11.07.17|
|hotforex is really hot.......... it has slow execution of trades but still the withdraw process is so quick i had made 2 withdraws this month through liberty reserve and the wtihdraw is quick................||Sri||30.04.17|
|I chose this broker for its low deposit for micro accounts 500.1 leverage, and low spread. My experience is great online chat support, my experience with withdrawals has been great no delays I was able to with all my account balance within 24hrs no problems, I did not select bonce when depositing into my account. for all new traders my advise is do not over leverage your account. the market can go against you in a flash, having enough money available in your account will will allow you to stay in the game, your are trading against a banking computer that wipes out stops not the broker,all brokers are linked to the same system, banks know how many long and short positions they can wipe out forcing a big market move if you have delays filling your trades find another broker, i have tried other brokers and found hotforex the best for me now, happy trading||tony dancer||23.03.17|
|awesome spreads regulated fsc and banks like BARCKLAYS provide strong foundation and faith with HOTFOREX||johnny||15.03.17|
|SCAM||i tried my trial withdrawal with hotforex and for a week time i still didnt get my money! I was attracted with their offer of 50% bonus in every deposit but it was just a trap to traders to place in more money and never return it back!||disapointedtrader||21.01.17|
|This is a good broker. At first I was scared of them, not knowing what to expect especially with all the different opinions online, but quite honestly I%u2019m relieved to have chosen this broker. My main concern is always withdrawing. Most brokers are fast with deposits but withdrawing comes with tons of delay excuses. With hotforex it takes a little less than 24 hours for me to receive my earnings and that%u2019s really pleasing.||Mike Diaz||12.01.17|