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HotForex Review

Broker Information
  • Company Name: HotForex
  • Founded: 2008
  • Country: Cyprus & Saint Vincent & Grenadine
Broker Services
  • Regulators: CySECDFSAFCAFSA, FSCA
  • Bonus: 100% FTD Bonus(Only non-eu)
  • Minimum Deposit: $5
  • Leverage: From 1:2
  • US Clients: No
  • EURUSD Spread: 0.1
Platform Info
  • Platform: MetaTrader 4, MetaTrader 5

Bonus Offer for Forextraders Visitors

100% FTD Bonus(Only non-eu)

HotForex Pros

- 100% FTD Bonus(only non-EU)
- Social Trading Features
- Available in 25 languages

Pros Cons
Multi-lingual customer support offered Education and learning materials could be better
Great support for e-payment withdrawals and deposits

Traders Viewpoint

Founded in 2010, Hot Forex is a multi-asset broker who focuses on the CFD market. Through their state of the art trading platform, it has provided trading services to a staggering total of 2,000,000 live accounts since first being founded, making it one of the largest CFD brokers currently operating. It currently employs over 200 employees spread across a rapidly expanding global network of offices.

The benefit of being a global broker is that Hot Forex delivers customer support in a multi-lingual setting. It supports 27 languages in total, meaning no matter what language you speak or time zone you reside in, you will be able to speak directly to a customer support agent.

The Hot Forex customer support staff are available on a 24/5 basis, and are contactable via phone, email, live chat, and Skype. In addition, there is also a well-resourced FAQ section of the website which address the main issues might encounter. There are also a number of education and learning materials available, including charting tools, signals alerts, daily commentary, tutorials, and webinars.

Trading is delivered through a number of different account types, which includes premium, zero spread, HFCopy, and premium pro. This is in addition to a full-featured demo account which gives you the opportunity to experience everything the platform has to offer in a zero-risk environment.

Hot Forex is an STP broker and provides liquidity to both individual traders, as well as scalpers and automated traders. The spreads on offer are generally very tight, with plenty of leverage available for those of you looking to trade on margin. You can trade traditional forex currency pairs or CFDs on stocks, commodities, as well as indices with over 200 asset classes across 20 markets. There are also added social and copy trading options which allow you to learn from the best and implement their strategies with your own trading account. Users are given access to the MetaTrader 4 and MetaTrader 5 trading platforms.

Deposits and withdrawals to the platform are streamlined, with payments possible via bank wire transfers, credit and debit card, and a number of e-payment solutions such as Cashu, Skill, Neteller, Ukash, mybitwallet, and Webmoney. All transfers to and from the platform are made in line with anti-money laundering procedures, with client funds being kept in segregated Tier-1 bank accounts.

Hot Forex is a broker who has clearly gone the extra mile to make the trading experience as customer-focused as possible. From the streamlined, one-stop-shop trading on offer, to the highly qualified customer support team who are ready to help you in any way it can, Hot Forex is re-defining what it means to be a “full-service” broker. Traders of all skill and experience levels will find themselves at home on the Hot Forex platform, although new and intermediate traders are best suited.

Successful forex brokers always listen to their customers, respond, and go out of their way to keep them happy. HotForex.com, also known as HF Markets Ltd., is one broker that excels at this task, perhaps, to a greater degree than most others in the business. A quick review of their website leads one to believe that every new idea and innovation in the industry can be found at HotForex, judging from the plethora of options and varied product offerings, many bearing “New” next to their names. The firm can offer forex trading, along with CFDs, with as many bells and whistles that any trader, large, small, veteran, or beginner could want.

Formed in 2008 and headquartered in Mauritius, HotForex operates under both FSC compliance in Mauritius, as well as under CySEC regulatory approval in Cyprus for the whole of Europe. The firm has quickly amassed a loyal global customer base (the website can be read in 25 languages) and garnered some 14 prestigious industry awards. Customer deposits are segregated in Tier-1 international banks for safety, and all data transmissions are encrypted by the latest protocols to further ensure security in all areas. Micro accounts start at $5 and progress to Premium and VIP after $20,000, but there are other specialized accounts that access new social trading and zero-spread trading accounts. Bonuses, contests, and awards are plentiful and add extra excitement to the mix.

HotForex is an STP broker that has opened up its liquidity for all types of traders, including scalpers and automated traders. The popular Metatrader4 series is available, but the firm has created a number of additional formats to appeal to the mobile crowd and to other operating systems that may not take well to MT4 downloads. Spreads are tight, and leverage is higher than you will find at most all other brokers. A broad set of deposit options is offered, along with a proprietary debit card that can be used for instant withdrawals. Support materials are top of the line, and customer service is excellent, as well. From the firm’s perspective, “Hot” is an acronym that stands for “Honesty, Openness and Transparency”, and judging from their success to date, their customers approve. Unfortunately, U.S. clients are not accepted at this time.

As of August 1st 2018 new margins take effect. You can read more about it here.

HotForex Website

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Features at HotForex

Why trade with HotForex.com? The firm lists these reasons:

  • Founded in 2008 by industry professionals in the Republic of Mauritius;
  • Offers PAMM Accounts only HFSV clients: Account Managers are required to have some of their own money invested in their accounts.
  • Regulated by the Financial Services Commission (FSC) in Mauritius and CySEC in Cyprus also regulated by FCA, DFSA, FSCA and FSA;
  • All deposits are segregated from operating capital in accounts with Tier-1 international banks;
  • Trade traditional forex pairs or CFDs for stocks, commodities, and indices with over 200 asset choices in 20 markets;
  • MT4 trading platform set-ups, along with customized web-based versions for all operating system access;
  • Three standard accounts with escalating benefits: Micro ($5 – $499, Leverage 1000:1); Premium ($500 – $39,999, Leverage 400:1); VIP (Over $40,000, Leverage 300:1); Not applicable for EU clients.
  • Additional specialized accounts include a “No-Swap Islamic” account and a Currenex account to provide near zero-spreads for scalpers and automated trading;
  • No U.S. clients accepted at this time;
  • New social trading features allow a trader to “connect with other traders, discuss strategies and news, follow and copy the most successful portfolios and quickly expand your network by identifying more trading opportunities;”
  • Multiple deposit methods supported and proprietary debit card for quick withdrawal applications;
  • Website in 25 languages, and half of these supported by customer service 24X5 each trading day;

Supported Platforms

While most brokers claim to have solved any access problems for you, HotForex actually delivers a state-of-the-art trading platform for every operating system and device out there. Yes, you may download the highly popular Metatrader4 versions, but if you desire a twist on a web-based platform, then look no further – HotForex has you covered with no less than a dozen solutions, each designed to overcome any obstacles that might block your entry. Mobile is truly mobile, any time of day, whether with a phone, a tablet, or a laptop. The latest in 256-bit SSL technology also provides the added security that you expect in today’s Internet world.

Deposits and Withdrawals

Major credit and debit cards are honoured, as well as bank wire transfers. Additional services like Cashu, Skrill (Moneybookers), Neteller, Ukash, mybitwallet, and Webmoney make deposits and withdrawals an easy process. As with all brokers, however, internal withdrawals can only be made if legally mandated anti-money laundering identity information is on file and in order. It is important to follow these guidelines on the front end to prevent delays down the road, although the firm does provide a debit card that can be used at ATMs or at the point of sale for purchase with funds from your account. All deposits are segregated in accounts with major Tier-1 banks, like Barclays.

Customer Support

Customer service reps are truly bilingual, speaking at least 12 different languages. They can be reached “24X5” during every trading day by phone, email, live chat, or even Skype. Training materials are in abundance, as are charting tools, free signal alerts, daily commentary, and more.

HotForex – Conclusion

HotForex is an exceptional forex broker that has gone the extra yard to give its customers exactly what they want. They have re-invented the terms “full-service” and “one-stop-shop”. Spreads and features are very competitive and appeal to all manner of trader, whether they are small or large. All trading strategies are welcome, and specialized accounts have been set up to accommodate different trading modalities. Access is guaranteed, as well, since the firm has taken the time to develop a platform for each and every device and operating system nuance. Variety and comprehensive customer support awaits you, making for a great combination of advantages and benefits that you will not find elsewhere.

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Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Tom Cleveland
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