145 reviews of HotForex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
I’m on their Micro account (267432) trading commodities using COT reports. Glad to have live CBOT data provided for free, while other services charges a good penny for that stuff. It’s traded as CFD’s so transactions costs are a bit cheaper than with standard futures brokers, charging per contract. Execution is quite stable but sometimes I get some slippage at the start of trading session, I believe it’s because of unstable liquidity.
Regarding support I would rate them at 4. Sometimes it takes a bit more time for their chart support to answer (I believe due to being over-busy) but when they are there it goes exceptionally professional. Still there are emergencies popping up in my trading and I demand for their quickest resolution.
A couple of words of of their Execution desk. There were intentional checks by me when settling down there to estimate how fast are positions closed using this option.Well, requests were handled properly, but market was quiet, so I wouldn’t count it as plus.
Haven’t made any withdrawals yet, only depositing through Wire Transfer. It’s really annoying policy that deposit and withdrawal methods should be the same as I am looking for workarounds of ducking taxes. Next time will try online payment system to optimize capital flow…
It is too early to make solid conclusions but what I can definitely say is that with my perfectionist nature, there are a lot of things to do for Hotforex to finally win my heart.
Hot forex is best broker , i'm trading with this broker about 2 years no problem at all i faces , every things is fast (withdraw,deposit,fast execution) & i recommended this broker ,
REVIEW ONLY FOR SCALPERS!! For those who use MT4 default autotrading feature (which I guess very few), I would strongly advice to spend 5 min and install their One Click trading EA. Discovered it during my last browsing of HF website (haven’t been noticing it for 10 month of trading with them). Perfectly fits my news trading, especially with low fixed spreads on their special account. Easy-to-setup, together with minimalistic design makes all other MT4 tools useless for me :). Note that if you are not a scalper, I doubt whether it’ll suit you, as there is no need to catch exact time for entry in long-trend expectations..
Hot Forex Running Unauthorised Call Centres in india. BEWARE FOREX TRADERS.
Hot Forex does not have any company authorised call centre in India. But there are a lot of unauthorised call centre running illegally and seeking investment in the name of Hot Forex. I also fell prey to one of these such gangs.So, especially clients from india ,stay away from this fraud company Hot Forex.
I switched to hotforex after losing about 800 dollars with my local broker who charged my 20 dollars per lot of commission. I am a newbie and got lost with the friendly IB I had. Hotforex is now charging my only the spread and its cheaper.
Searched about this broker on many forums and reviews site before to go live, was worried before to jump live with them so tried with small deposit and now I got confirmed that I can go with them with some good money and can earn good from their platform. Lets hope that they can be same with my big deposit too. I`ll share my another review after 1 month or so.
This evil bucket-shop uses VIRTUAL TRADER to sabotage your trades. They also do not honor their own agreements.
BEWARE OF THIS CURSED BROKER!! Curse & boycott ThinkForex too!! Cut from the same cloth.
I was clueless about asymmetrical slippage before the moment I get paid by HF after opening trade in time of high volatility during July NFP release. Dips and rallies alternate each other on EUR/USD pair so I went the length to make an entry with 5 lot order. Curiously enough I was credited $130 at the time the order was opened. I thought something went wrong, closed the order immediately, but profit left. After inquiring about this case to support I was told that my account was credited because of positive slippage. Guess, it is rare occurrence and in case of getting negative one I was charged instead. Then you would see a complaint because of ignorance instead of good feedback…
Last summer I had a chance to visit Mauritius (during my vacation tour) and didn’t fail to drop in to Hotforex headquarters. As I have been trading forex with that broker for two years I really wondered what the company presents itself in real. What I can say that is they are located in decent multistorey building, looks like some International Corporation. I had brief conversation on the reception and mentioning that I had an account with them I was referred to one of their consultants who started to expatiate on company activity, client policy blah blah blah. Of course, I missed his report, but that visit cleared my doubts about the entity of offshore broker altogether. It appears they highly steem on their business and play fair game. The matter of funds safety was at top priority and now I am more confident about it.
Always present with me, the hotforex support team has provided assistance whenever I needed, I feel secure and calm when I trade with them, really friendly broker.
I have account with this broker and can rate their services as OK. Trading is my hobby, so I tried them only on micro account. Spreads are acceptable, average 1.3 pips during normal order flow. Quite good for micro acc. Execution is also OK, sometimes lags 1-2 sec., but I believe that it is because of my slow internet. Regarding customer support I can say that they are really helpful. Once I swamped they with specific questions and they ably answered them. I satisfied with their services.
First impression, the website has a good feel to it and easy to navigate, live chat was always responsive, I had some trouble with my submitted documents but that was sorted out. The platform is good, easy execution, Spreads on Majors are tight, eur/usd at 1.9-2.2 pips is very acceptable. I only have one withdrawal and it came with no delay, my experience with this broker is a mere 4 months, but so far so good.
Last week, I successful withdrew my money from this broker. I have researched this broker for a long time before opening a live account there. Everything is like feedback, a manager called to consult me, fast execution and small spread. But I avoid using CC withdrawals due to strict verification in my country but e-wallet as skrill or neteller are easy and convenient. But I can manage it.
I have developed an EA that took me sometime to find a suitable broke for it, hotforex is one of two brokers that I have my EA running on, so far the results are good, I make use of basic non aggressive scalping on the M30 and H1 time frames, the spreads on the EURUSD is a big plus, but I still have to keep an eye for news coz there are tendencies for the spreads to go wider, basically in this 3 month dry run it generated steady yet small profits with hotforex, I consider this a positive outcome and im really glad with the results, I have not made any withdrawals and my starting investment is quiet small. I wiil continue to monitor the trading conditions and maybe make an update soon, so far im pleased with this broker and they deserve a 4 star review from me.
I came to this broker because its bonus program, it offer various bonus program regularly, from deposit to rescue bonus and withdraw bonus. Especially, this broker looks decent than some brokers I had interacted before, I got an instant call from Account Manager when opened live account. Overall, I see: Good broker, fast execution, rarely requotes.
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