149 reviews of HotForex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
I admire this broker's trading processes and there attitude towards for it's clients. My queries are reasonably answered in a timely manner. Trading servers are fast enough. Payment of profits are always in time. Spreads are tight enough to scalping. Limit orders are also met on time.
I was scammed by a local broker and decided to find an international broker and hotforex is among popular one in my region so I picked it. I started with demo account and come to live (zero spread) account in a few weeks. I feel this broker never avoid to reply your questions. During years I been with this broker, I had some struggles and problem like slippage or slow payout but everything were resolved by broker in a few days after emailing or live chat. In addition, this broker has swift payout and it's really a reliable broker.
I consider hotforex is among the top brokers. Currently I have been trading with hotforex for the past two years and i don't found out any bad glitches to report my fellow traders. The trading assets have decent leverage with tight spreads. I get my withdrawal processed within two business days.
I have been trading hotforex for close to a year and 8 months now, live, started with a micro test account last 2018 which i used for testing. Over all experience is good but not perfect, mode of money transfer is skrill, i cant comment much about bank wire due to slow banking system in the country, but Skrill comes with conversion fees, and rates are not that great which is understandable but its fast (24-48hrs). trading environment is decent, most spreads especially on usd and eur pairs are tight and scalping is very doable. good platform optinos mt4, mt5 mobile etc, Crypto trading is offered and its an added plus in my opinion for though into crypto trading. forex trading in general is gaining popularity around south east asia due to accessibility. The only issue i had was documentation when i first started, they are strict with documents and verification pls do keep that in mind.
The only thing I found essential in my trading career is the rare spread widening, low slippage / no re-quote during news releases. They allowed news trading and scalping too but in a fair manner which clearly states that it is a good broker. Becuase bad brokers does not allows winnings of the traders. So i found out it is a good broker.
I'm not an easy quitter, so I gave them an other chance, but now it's time to move on. Seems it hard to find good brokers.
I knew this broker through a seminar held in my city. Then I research more information and I know this broker is legit or reliable with many traders. I opened a demo account and tried a few weeks. Then I opened a live account , Premium (minimum deposit $500) and started trading on major pairs as EUR/USD and Cable. Their spreads are good but not excellent but it's a zero commission so it's acceptable. So far, I made steadily income on both trading and PAMM investment at this broker and their payment are always swift both deposit and withdrawal. During holiday it could be delay but it's fine with notification emails. I as an experienced trader recommending this broker.
I was trading with them and was satisfied until they started delaying my order, guess i will have to look for another broker.
Hotforex is the broker with whom i started my trading career in late 2017 where i start trading the demo account. The demo account was easy however i stick to it for a month or two and then i deposited 500 usd for live trading.
Luckily i made some pips on gold in my first trade which make me kinda greedy. It was a micro account but i was not aware of the market conditions and when i shorted with all of the leverage it shocked me because most of my account balance was in negative within the next two hours.
Before getting wiped out i waited for some more time talking to others who referred me trading business but none of them came rescuing me or advising anything. So i took the loss and closed the trades immediately. It was a real disappointment but it was also a turning point for me to decide either learning from the said mistake or just leave trading and withdraw remaining fund back.
There were around 200 usd remaining in my account so i transferred them back into my main hf wallet. I then went to demo trading with a decision to start learning this trading and took it as my career. Although that was hard track yet i opened a new demo account for learning. Many demo accounts were blown but it enhanced my patience and i after spending more than one year learned the trading mechanism. 2018 was a challenging start when in june i started live again with many hopes and since onward i am making good profits.
I did not trade whole day sitting on computer. I have pips plan ahead of my trading month which i strictly follow. I do not chase the prices and wait for the sweet spots to occur. While everyone in my friends were shorting the gold a few days ago i was the only one among them profiting by making long.
The things i like the most about hotforex is that it allows convenient trading maybe because of the userfriendly MT4. All i have to put the orders, stop losses and take profits now and believe me i hardly regreted because most of the orders are met accordingly. some of them are also manually closed if i am sitting on computer to watch my setups.
When I started trading with them few months ago, everything seemed to be fine. I was doing news trading and started to be successful. But now execution speed dropped so much that I can't do it anymore. I guess they delay my orders...
I have trying to make withdrawal money but they are pleased me to contact support and they are telling me that I need to upload my passport and wait for confirm. Withdrawal is to complicate.
I had recently opened live account with hotforex. Previously i was prcticing the demo trading which gave me some confidence going to trade live. Therefore i opened the live micro account in July and since I have been trading this live account. The leverage is quite reasonable to push account profits. I am trading micro lot every day and my only objective is to remain on breakeven if the profit target is not hit. The execution is easy and stop loss is always triggered on a bad day. I did two or three withdrawals which were processed easily, now i am not going to withdraw and built this account into a big one. This is my target and i believe that i can be able to achieve this easily.
The broker is already well know and has been around for almost 10 years, but the positive thing is they continue to up their game and bring more for the traders and that's the way it should be. Various tools for different type of traders, from calculators for the detail savvy, to webinars and learning materials, but with that set aside, the trading condition over all are good. spreads are competitive and execution is quiet decent. I suggest sticking to trading in its simplest form, with all the services offered it can be a bit over whelming at first. bonus needs to be read thoroughly and understood. personally I skip the bonuses. but over all I give them a 9/10. no issues with withdrawal always on time and that's always a positive thing. total live trading time is 8 month.
Having account with them from more than couple of years along with good amount of withdrawal successfully every month. I must say Hotforex is one of the best forex in the market. I like the Neteller option to withraw the money as it has low fees and fast withdrawal.
I have 2 years with this broker, it's from Cyprus and CySec regulated. Execution is rapid and my most pending orders are executed at expected prices. Spreads are low in majors compared to all brokers I have tried (both int and local ones). I also compared prices with another genuine broker and the price chart are same with almost no different. Regarding payment, it supports variety options as Skrill, Neteller, local banks... And after submitting withdrawal request, you could get your fund within 24 hours. I safely recommend this broker as a decent one to start trading.
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