HotForex feedbacks!

Shaun Henry

Active Trader
Dec 29, 2016
109
2
29
31
fx-list.com
I haven’t worked with them to say much but from whatever I heard, I believe they have very high minimum, so that makes it harder for newbies to begin. This is where we have to be very careful and select a broker offering comfortable stuff.
 

Day

Trader
Jul 25, 2020
18
0
7
32
what about withdrawal? how fast orders are opened? they have good rating on forexpeacearmy but last reviews are not so good..are there real traders?
 

bottomhigh

Newbie
Aug 16, 2020
21
5
4
29
what about withdrawal? how fast orders are opened? they have good rating on forexpeacearmy but last reviews are not so good..are there real traders?

Withdrawals are usually processed within 24H. Many complaints on FPA (not only to hotforex) shine with newbie mistakes, ignorance and greed. On 2-3 pages there is only a couple of reviews from seasoned traders, according to my experience.
 

inggo

Master Trader
Jan 13, 2012
493
12
59
Philippinese
what about withdrawal? how fast orders are opened? they have good rating on forexpeacearmy but last reviews are not so good..are there real traders?
they do have a good steady execution of orders if you ask me, very rare requotes, spreads are manageable and above all i can safely say they continue to improve, recently being regulated by multiiple regulatory bodies all through out thhe globe depending on your location, but dont just take our experience per say, try them with a very minimal account test the trading conditions and compare, thats the best advice i can give, dont reply too much on demo we all know demo conditions are different. but over all they are good.
 

bottomhigh

Newbie
Aug 16, 2020
21
5
4
29
they do have a good steady execution of orders if you ask me, very rare requotes, spreads are manageable and above all i can safely say they continue to improve, recently being regulated by multiiple regulatory bodies all through out thhe globe depending on your location, but dont just take our experience per say, try them with a very minimal account test the trading conditions and compare, thats the best advice i can give, dont reply too much on demo we all know demo conditions are different. but over all they are good.

Good point raised. Too much time spent on demo does impact your risk-taking approach. You start to believe that easy and huge gains are possible on live and repeat the same mistakes.
 

inggo

Master Trader
Jan 13, 2012
493
12
59
Philippinese
yeah they are okay, and they have been around for quiet some times now. so far soo good. but always keep in mind the saying, not all eggs in one basket. we traders need to be extra cautious never the less.
 

Jerry_Ken

Trader
Dec 11, 2020
57
5
9
31
yeah they are okay, and they have been around for quiet some times now. so far soo good. but always keep in mind the saying, not all eggs in one basket. we traders need to be extra cautious never the less.
Oh, so do you mean we should split our funds with more brokers than relying on one? Is it feasible?
 

Enivid

Administrator
Staff member
Nov 30, 2008
15,980
798
144
Odessa
www.earnforex.com
Oh, so do you mean we should split our funds with more brokers than relying on one? Is it feasible?
That's not only feasible, but a rather smart thing to do because swaps and spreads vary for different trading instruments among brokers. With a trading account at more than one, you can easily shop for better conditions for your specific planned trade.
 
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Jerry_Ken

Trader
Dec 11, 2020
57
5
9
31
That's not only feasible, but a rather smart thing to do because swaps and spreads vary for different trading instruments among brokers. With a trading account at more than one, you can easily shop for better conditions for your specific planned trade.
You're right. Thanks for letting me know :)
 

danielbro

Trader
Nov 26, 2020
60
11
9
39
Was considering giving them a try but I think their deposit funds seems quite high so I haven't consider yet. Their spreads look good, plus MT5 platform is a good option as well.
 
Dec 18, 2020
27
1
4
36
Hi,

Recently i have deposited around $1100 to my HF account and till now i made good income with my manual trading and planning to deposit more but worried is it good to deposit more?

I always having these questions

Do Hotforex is true STP (A book) broker?
Is Money is safe with hotforex?
Can i withdraw anytime my profits or full amount?

Anyone is here who using Hotforex from years without any issues on withdrawal of there capital & profit?
 

Enivid

Administrator
Staff member
Nov 30, 2008
15,980
798
144
Odessa
www.earnforex.com
That depends on which company you have the trading account agreement signed with. If it's their Cypres, UK, or even South African company, then I guess you are pretty safe. If you are dealing with one of their offshore divisions, I wouldn't be too confident about safety.
 

sunar14

Trader
Jan 17, 2021
47
4
9
27
That depends on which company you have the trading account agreement signed with. If it's their Cypres, UK, or even South African company, then I guess you are pretty safe. If you are dealing with one of their offshore divisions, I wouldn't be too confident about safety.
Should Cyprus be considered offshore or it's become more trustworthy location?
 

Enivid

Administrator
Staff member
Nov 30, 2008
15,980
798
144
Odessa
www.earnforex.com
Should Cyprus be considered offshore or it's become more trustworthy location?
It could probably still considered offshore for tax purposes, but from the point of view of Forex regulation, it's not for quite some time now - CySEC is under the ESMA umbrella and their regulation is on par with other EU countries.
 

sunar14

Trader
Jan 17, 2021
47
4
9
27
It could probably still considered offshore for tax purposes, but from the point of view of Forex regulation, it's not for quite some time now - CySEC is under the ESMA umbrella and their regulation is on par with other EU countries.
Is it equal to FCA then?