HotForex Review – Expert Review of Hotforex.com

Hotforex is one of the best forex and commodities brokers out there, offering both retail and institutional clients an array of award winning trading services. Hotforex has set themselves apart from other ECN brokers by providing the best customer service, a great variety of account types and all the trading software and tools necessary to trade Forex and Commodities successfully online.

All HotForex clients have the opportunity to access interbank spreads and liquidity through the best automated trading platforms available. Hotforex is renowned for the superior trading conditions and extremely fast execution by providing all to the tools and services necessary to clients of any level of trading.
Zero Spread Account

Established year : 2010

Broker Type: STP Broker

Headquarters: Mauritius

Regulated Authority: Financial Services Commission (FSC) – Mauritius

Accept Us Clients: No

Open An Account with Hotforex here : Hotforex.com Open Account

Hotforex.com Account Types:

Hotforex offers a variety of account types to accommodate any level of traders, from beginner to advance.

Micro Account

Allows traders to open a live trading account with minimum deposit of only $5! This account is for traders new to the forex market and/or traders who wish to trade smaller trade sizes. With spreads starting at only 1 pip, Max Leverage of 1:1000 and a minimum trade size of only 0.01 lot and Maximum of 5 Standard lots, this account is idea for those traders just getting started to allow them to minimize their risk while still trading live.

Premium Account –

The premium (or standard) account is for more experienced traders. With a minimum opening deposit of $500(USD), Maximum leverage of 1:400, minimum trade size of 0.01 and max trade size of 60 standard lots. With the premium account, you are also assigned your own personal account manager along with all the tools and services necessary to trade effectively and almost effortlessly.

VIP Account –

For the ultimate experience in trading, the VIP account offers many unique services, such as Unlimited Live Chat sessions with expert analysts, A complimentary subscription to daily update services via SMS and Three private 30 minute consultation sessions with Chief Market Analyst Janna Muta (bookable in advance). There is a minimum opening deposit of $20,000 and a minimum trade size of 0.1 lots (10,000 units of base currency). Spreads begin at only 0.2 pips with a max leverage of 1:300.

Hotforex also provides accounts suitable for scalper trading (Currenex Account) and Swap-Free trading (Islamic Account). Hotforex also offers FIX accounts for fixed spreads, PAMM account for money managers and an unlimited risk free DEMO account for newcomers who just want to test the water but aren’t ready to risk any capital.

Also see HotForex Deposit Bonus promotions of 2015 

HotForex Values

Hotforex values the customers and achieves their mission by impressing the clients through an unparalleled level of service and consistency. Their passion and determination is what sets them apart from most other brokers and they have a high level of respect for colleagues as well as clients. Having been in business for more than 5 years, with over 350,000 Live accounts opened and more than 140 Employees worldwide, HotForex has built a team of experts with a positive attitude and “family spirit”.

They are dedicated to helping traders make the most of forex trading by being reliable, embracing change and taking responsibility for their actions. In the world of highly competitive Forex trading, Hotforex stand apart from many other forex brokers with their integrity and client consideration.

The best and most convenient Platform options of Hotforex

Hotforex offers traders the best platform available with one of the most popular front-end application in the industry, MetaTrader 4. Hotforex has taken MT4 and has introduced its liquidity in order to offer traders a user-friendly interface with interbank liquidity and very fast execution. MT4 provides all the tools and resources needed for traders to analyze the market, use automated trading (Expert Advisors) and make lightning fast trades. Hotforex also offer the convenience of MultiTerminal trading, allowing traders to manage several account simultaneously through one interface.

You can download and install the MT4 to your desktop in minutes and begin trading almost immediately. The ease of use and intuitive design makes this platform great for new traders as well as functional enough for even the most seasoned traders. In addition to trading on your desktop, Hotforex offers several other choices to allow you to trade from anywhere with nearly any device such as:

IPhone Trader

IPad Trader

Droid Trader

MT4 Smartphone

With the HotForex Webtrader you can even use your Chrome book to trade!

Deposits and Withdrawals : HotForex

Hotforex provides a wide variety of deposit and withdrawal methods and they never charge a fee for withdrawing or depositing funds.

The following methods are available for depositing funds into your Hotforex account:

Wire Transfer Minimum Deposit of $100, no maximum deposit. Funds usually take between 2-7 working days to be credited to your account. Hotforex will cover the fees from wire transfers on transfers over $250(USD)

Credit Card Visa and Visa Electron- Minimum deposit of $5, maximum deposit of $10,000. Fund usually available within 10 minutes of deposit. MasterCard – Minimum deposit of $5, maximum deposit of $7,500 (per transactions) and funds are usually available within 10 minutes.

Online Payments (All online payment methods requires a minimum deposit of only $5)Web money – Maximum Deposit of $50,000 with instant availability. Skrill – Maximum Deposit of $10,000 with instant availability.NetTeller – Maximum Deposit of $50,000 with instant availability.CashU – Maximum Deposit of $500 with availability. Up to 10 minutes Fast Pay – Maximum Deposit of $5,000 with instant availability.

The following methods are available for withdrawing funds from your Hotforex account:

Wire Transfer Minimum withdrawal of $100, no maximum withdrawal amount. Withdrawal time is usually 2-7 days depending on your bank and your bank may charge withdrawal fees.

Credit Card Visa and Visa Electron- Minimum withdrawal amount of $5, maximum withdrawal of $10,000. Withdrawals may take 2-10 business days before funds are available. MasterCard – Minimum withdraw amount of $5, maximum withdraw of $10,000 and 2-10 days before withdrawn funds are available.

Online Payments Web money – Maximum Withdrawal of $5,000, Minimum withdrawal of $5Skrill – Maximum Withdrawal of $4,000 Minimum withdrawal of $5NetTeller – Maximum Withdrawal of $10,000 Minimum withdrawal of $5FastPay – Maximum Withdrawal of $5,000 Minimum withdrawal of $5

HotForex now also offers the HotForex Debit Card to allow you for easy withdrawal of your funds directly to your debit card, which is usually processed within 24 hours and can be used at most retail stores as well as ATM machines. This card is free for all traders who have live account and can be obtained easily through simple sign-up process with no credit checks.

Support for beginners

Hotforex is well known for their excellent support system tailored for beginning traders (and also for their experience traders). If you have never traded Forex before, you will find that Hotforex offers a host of services and tools that will make it easy to get into Forex trading and start making wise trading decisions in a very short period of time.

HotForex offer their new traders access to variety of tools to get them up and running, including live webinars, HotForex Video Tutorials, Forex Education / e-courses, an exclusive HotForex Blog with up to date information, tips, tools and techniques and an ever-expanding FAQ (Frequently Asked Questions) where you can find answers to most of your questions. In addition to all of these excellent tools, HotForex offers live customer support 24/5 to allow you to ask your questions and get immediate answers.

In Conclusion

This brief (but informative) review of Hotforex brokers has only touched the tip of the iceberg, with an excellent trading platform, an awesome array of account types for every trader’s level, fantastic customers support, easy deposit and withdrawal of funds with no hidden fees, it’s no wonder HotForex has won over 16 industry awards for their great service and dedication to their clients.

To find out more about HotForex, we recommend you stop by their site and read what all they have to offer you. If you are new to trading, go ahead and open a free demo account with them, so you can get a feel for the system and support offered. Once you realize how easy, convenient and customer driven HotForex is, you’ll thank us for pointing you in their direction.

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Comments

  1. oean kitik says

    I have been trading with them for several years and they were perfect. But now they are not always honouring my Stop Loss and when contacted every time they say there was gap or spread widens. They Never call me after deposits Nor they response of Call Me Back

  2. kitina tylor says

    Very good on making tricks to steal your money! The platform is often doubtful and grambling. Strangely enough, the demo account works fine and after you open a live account many many strange things happens (..?)

  3. Laurent Gaudreau says

    Confused !!
    Worst customer support. I can’t understand why they are not responding me after I deposit with them.
    Any idea ?

  4. Joseph Clément says

    Worst customer support.Slow execution.The bonus provided by hotforex is fake.All the Promotion are fake and their spread

    is too high.!!
    HOTFOREX IS BIG SCAM!!!!!!!!!!!!

  5. Ryder Blakeley says

    Hotforex is Worst broker, slow execution, I trade and manage with them Big amount of money, sent request for withdraw but they never respond me…they have really bad service.

  6. Max Heney says

    Never trade with Hotforex . Their execution is too slow and their platform doesn’t work properly. Their support is not effective.

  7. Peverell Grondin says

    Terrible broker , I deposited 100$ with hotforex, made 60$+ profit and they removed 60$+ profit send 3 letters to finance department ,anti-fraud , support and nobody answered what a poor broker should be if they remove 60 $ profit ?

  8. Dominic Ash says

    I losed money due to hotforex server sudden disconnection. hotforex do not compensate and not response sicereley There is no place to complain. They can do whatever they want after deposit money.

  9. Aurangzeb Khokar says

    I have account with hotforex and i usually trade EURUSD on London session and sometime i trade GBP too. The spreads offered by hotforex are quite convenient too. Its been four months since i am trading the same currency pairs and i am making reasonable profits. Withdrawals requires some time but transferred usually in skrill account within one business day. Its a decent broker and could be considered as a reliable option.

  10. Musa says

    I opened account few months earlier and i think that they are offering very unique services which seems that they have improved their standards. The withdrawals are much easier and trade executions are very smooth. I guess they deserve five star ratings for such kind of services.

  11. Hata says

    Hotforex is a really good broker. I started with a Premium account for years.

    The execution and spread are very suitable with my trading type. CS is also fast and dedicated, if you have any problem, you would have it resolved withint 10-15 mins.

  12. Naseer Ullah Khokar says

    I am trading with many other brokers and have a regular account with hotforex for more than one year and my trading experience with this broker is good with no complaints. They have good spreads and the trading platform is easy to navigate. The profit withdrawals are also processed within one business day.

  13. Rohan says

    the trade execution is quite good however it may show requotes on busiest days only but it is acceptable. easy withdrawals of profits earned through them and payment is deposited instantly. good services for anyone who wishes to earn money through trading forex.

  14. Josh S says

    good broker, excellent execution, I mostly trade eurusd in hopes it hits the 1.00 mark in the next 2 months, that would be really awesome. but so far the profits have been withdrawn with no issues and the broker is providing an excellent service

  15. arslan mirza says

    All i can say about this broker is that they have excellent execution of trades with very nominal spreads. The payment deposits and withdrawals are awesome however you need to verify your identification by uploading the required documents to them. Once you get verified, everything is easy and i would recommend giving them a try.

  16. Ken Q says

    7 years of services, though i have only been with them for 3 the broker is doing really well and continues to grow. good sign for a good broker, though remain many room for improvment but i think they will get there gradually.

  17. Bert says

    I have traded with this broker for 3 years and withdraw many times, this broker has decent services. Recommended. My advice is you shouldn’t claim the bonus if you don’t have a proper strategy.

  18. Kashaf says

    I was working in network marketing company however i was worried about making another source of income so i put some money with this broker on friends recommendation. I since making some good bucks trading part time and i think this forex trading business is also legit one. So i recommend this broker to my dear ones for giving it a try because it offers very good services.

  19. saleem says

    I traded 6 months demo, and 8 months live now, broker is good, very patient with new traders like my self, webinars are helpful, i made couple withdrawals always processed easy. bank wire can take longer but skrill around 24 hours.

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