153 reviews of HotForex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
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.
Hi, This is Ankit working with JDNetProfits firm in forex market, My Office is in singapore. I opened my own account with HotForex 3 weeks before. Acc num 895XX. In 3 weeks trading i withdraw my whole equity in 2 rounds. The good thing is that i got my whole equity back in just 3 days. Now the account is running on profits only. I will keep posting here so that others will come to know that how much this broker is good in the case of profit withdrawals. Till now, the customer support is great, they use to clear your doubts/queries on the same day no matter how much money they are spending on international calls. Once i received 2 calls from the same department at the same time. See how much caring they are..!!! Just a small issue of credit card and resolved in a day. In my 4 years of trading life, i never posted any comment for any broker till yet and this is my first comment as this HotForex showed honesty till yet in withdrawing my 100% equity, and now after 6 days we will see the profit withdrawal also. I will keep posting regularly here. 5 Stars from my end for customer care and credit cards withdrawals. Ankit --India/Singapore
Hotfores was recommended to me by a fellow local trader, I mostly trade in local stocks and hotforex is my first forex broker online, the concept of trading and charting is almost the same, so far I have started with 500usd and made my way up to 731usd in 46 days, with the guidance of my local IB, in terms of technicalities I see no issues, the platform is stable and execution is good. I have not made any withdrawals yet, but I like the results I am getting so far.
Hotforex broker is a big scam. They offer a fake %100 deposit bonus, once market go against you, they will take the bonus and your money will be wipe out. This has happened to me. Never deposit your hard earned money with this fraudulent broker.
They have a variety of services, premium accounts have good spreads on live compared to other brokers, execution and servers are stable on both webtrader and MT4, very small chances of slippage. I have encountered only a couple of slippage in my 5 months of trading wth hotforex, but personally I think they can improve that. Money always arrives with in 2-5 working days if you are using money processors, I’m not sure about Credit cards and bank transfers though. So far my trading is good and I have no complaints.
I would like to share my interesting to this broker after 8 months trading. I had been looking for a regulated broker that allows CC deposit. After much consideration, I made a desposit to open a premium account at Hotforex. As their introduction, the spread in EU pair was very low about 1.6 - 1.8 pip, gold is higher but not too much. Fast execution and no requotes. And I always got payment on date. I totally satisfied with this broker.
Hotforex scammed me !!!
I made a deposit through Moneybookers, later I withdrew the same amount through a Moneybookers withdrawal request. But this was not possible they told me. I had to fill out a credit card withdrawal request. so I did and after that my money disappeared. The transaction info Hotforex sent me is false, my bank told me. So they just stole my money!
I have been trading the demo acct for two weeks and it is pretty good...there are rooms for improvement but it is much better than most of the demos out there. They reply to my text messages promptly on a demo acct and I am impressed. I plan to open real acct with them once I fully get used to the platform. Look, I am not naïve...I know about the slippage, commission and some bad reviews from newbies...but I have done my research and I will try them out in few weeks and keep you guys posted.
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