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HotForex

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6.7
( 43 Reviews )

Founded: 2010 Min Deposit: 5 USD

Headquarters: Cyprus Max Lev: 1 : 1000

Risk Level I

The Securities Commission Malaysia (SC) Issued a Warning Against HotForex

Score
Business Scope
7.2
Trading Cost
6.5
Trading Platforms
6.5
Support
6.2
Licence Status

hold many regulation licenses such as FCA

CySEC 183/12
FCA 801701
Mauritius FSC C110008214
Authorised
Authorised
Authorised
Contact
+44 2035199898
support@hfmarkets.co.uk
http://www.hotforex.com
Multiple Base Currencies Support
24/7 Client Support
Multilingual Support
Multi-regulation
Fast Deposit
Fast Order Execution
Fast Withdrawal
Multiple Account types
Mario Vega
2022-12-19
My account performs very well, the spread is okay. Decent execution, no complaints so far. But I haven't withdrawn funds in hotforex yet, I will take a while to test the withdrawal.
Laslo
2022-11-15
In the past few months, I've traded with HotForex. They have low spreads and good trading environment. I've taken advantage of their no-depost bonus. They are helpful. You can have a try.You won't get disappointed.
Sandy
2022-11-03
Just got my second withdrawal as scheduled. Trades can be executed without delay. Average spreads and commissions are close to the average level.
Account & Cost Deposit & Withdrawal Company & Service Broker News Related Complaints Reviews

Deposit and Withdrawal

6.0

Average

Fast deposit & withdrawals

Features

Fast Deposit
Fast Withdrawal
Low Minimum Deposit

See more
See more

Company and Service

7.2

Good

fast deposit/withdrawal& good customer support

Features

Good Customer Service
Multilingual Support
Quick Response
Profile
Headquarters Address
Spirou Kyprianou 50 , Larnaca, Larnaca 6057, Cyprus
Founded 2010
Broker Type
STP
Time Zone GMT+2,GMT+3
Credit Profile No information
Trading Platforms
MT4
Mac,  Windows,  iOS,  Android,  Webtrader,  Multiterminal,  Linux
MT5
Mac,  Windows,  iOS,  Android,  Webtrader
Contact
No Data
Others
Website Language
Czech,  English,  German,  Greek,  Hungarian,  Italian,  Polish,  Portuguese,  Romanian,  Slovak,  Slovenian,  Spanish
Customer Service By
Phone,  Email,  Live Chat,  Facebook,  Twitter,  LinkedIn
Supported Language
Czech,  English,  German,  Greek,  Hungarian,  Italian,  Polish,  Portuguese,  Romanian,  Slovak,  Slovenian,  Spanish

Broker News

Sep 18-22, 2023 Q&A Weekly Review - What's Asked This Week? 2023-09-22
Stay ahead in the game of trading with BrokersView's "Q&A Weekly Review" from Sep 18-22, 2023! Subscribe now to get the latest regulatory status and trading details of brokers.
HF Markets: What Do Consumers Say about it? 2023-09-18
Read this article to take a look at the views HF Markets customers hold about the broker. 
Aug 21-25, 2023 Q&A Weekly Review - What's Asked This Week? 2023-08-25
Stay ahead in the game of trading with BrokersView's "Q&A Weekly Review" from Aug 21-25, 2023! Subscribe now to get the latest regulatory status and trading details of brokers.

Related Complaints

Q&A

is hotforex legit/regulated

Peter Lynch
Norway
2023-09-20
ANSWER HotForex, presently known as HFM, is a globally licensed broker that operates under the strict supervision of multiple regulatory bodies. These include:1. The Cyprus Securities and Exchange Commission (CySEC), with license number 183/12.2. The Financial Conduct Authority (FCA), with license number 801701.3. The Mauritius Financial Services Commission (Mauritius FSC), with license number C110008214.4. The Seychelles Financial Services Authority (Seychelles FSA), with license number SD015.5. The Dubai Financial Services Authority (DFSA), with license number F004885.6. The Financial Sector Conduct Authority (FSCA), with license number 46632.7. The Kenya Capital Markets Authority (CMA), with license number 155.These regulatory authorities enforce legal compliance to safeguard investor interests. For example, UK-based accounts are required to maintain segregated client accounts and offer negative balance protection as standard measures. It's important to note that the specific regulatory authority overseeing your account may vary based on your geographical location.However, it is critical to note that the Malaysia Securities Commission (SC) has added HotForex to its Investor Alert List for carrying out unlicensed activities. If a broker receives a warning from a financial regulatory body, it is advisable for investors to reconsider its credibility due to the risks involved.
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how long does hotforex withdrawal take

Ewan Svirkin
Bosnia and Herzegovina
2023-08-18
ANSWER We have located information related to HotForex' withdrawal on their official website and the screenshot below helps you find such details. According to HotForex, the duration varies based on the payment ways. For example, withdrawal via crypto wallets takes the shortest time: requests would be immediately processed or up to 2 business days. You can read more details from their withdrawal page.Furthermore, BrokersView would like to draw your attention to the warning from Malaysia Securities Commission (SC), which suggest viloations by HotForex. So we kindly request investors to proceed with extreme caution when dealing with this broker and reconsider its reliability.
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Overall Score

6.7
43 Reviews

Cost 6.5

Platforms 6.5

Deposit & Withdrawal 6.0

Customer Support 6.2

Indicates the average level of Brokers

Keywords for selection
Fast Deposit/Withdrawal Fast Execution Low Spreads Multi-Language Support No Requote Simple & Quick Registration Process Good/Professional Customer Support Deposit/Withdrawal Problems Bad/Unprofessional Customer Support

43 Reviews

Sort by

Mohamed Suhaili Bin Mohamed No

2023-09-01 0-6 months Zero Spread Account
Am from Malaysia and been using HFM for several months.. no serious issues until now and only once due to the market froze during the news for a few minutes.. 2-3 days for that week and managed to recover it back accordingly.. Customer Support is very good from Account Manager and IB.. The rest like deposits and withdrawals are fast and good.. Recommended.. Cheers
Malaysia
1

NeoBeum

2023-05-12 0-6 months Micro Account
The platform is surprisingly good. I noticed HotForex when I visited a forex forum. I opened a demo account for several months. I was not expecting much but things went really smooth, opening an account is easy, the live environment is good and execution speed is nice. Everything seems to be fine. I still think there is much room for growth. so far so good.
Spain
1

Iery

2023-04-29 0-6 months Micro Account
Was my first Broker but as you know, first one is not always the best one.
Germany
1

Emily

2023-04-29 0-6 months Micro Account
I want to close the account and do not want to pay, the minimum withdrawal is 20 USD at another broker I had the same problem, but it was closing the account, they paid, hotforex is scam
Japan
1

Georgiy

2023-03-08 0-6 months Zero Spread Account
Hotforex is a great company! I am an amateur trader. I have traded with hotforex for almost 6 month. I’m very happy with the spread and execution, and they even provide support in Chinese. Very nice!
China
1

mr Wu

2023-01-20 1-3 years Micro Account
With a decent set of instruments, though i can't say i use them all, so far the results are promising. the broker is pretty much decent, fast MT4 terminal reaction, fast order execution and closing, spreads are manageable both in swings and scalps, the withdrawal process is easy and fast. My trading experience with hotforex is really good, i highly recommend it to all of you!
China
1

Mohammad Aziz Uddin Chowdhury

2022-12-25 7-12 months Micro Account
Hotforex is big scam! I submitted a withdrawl when I had a decent balance, but no response as if they are attempting to ignore me, no response no email no money received.
Egypt
1

summer

2022-12-08 1-3 years Micro Account
Trading since 2019 with them. I think Hotforex is a well-balanced broker. All the issues are always resolved quickly. Its MT4 platform is easy to navigate and very user-friendly, and it has no requotes. Compared with other brokers, the spread is also very low. I always complete my transaction at the desired price. I am very grateful to them. I would like to give them 5 stars now. Well done!
Malaysia
1

Md Fahidul Hasan

2022-11-17 1-3 years Micro Account
Trading since 2019 with them. I think Hotforex is a well-balanced broker. All the issues are always resolved quickly. Its MT4 platform is easy to navigate and very user-friendly, and it has no requotes. Compared with other brokers, the spread is also very low. I always complete my transaction at the desired price. I am very grateful to them. I would like to give them 5 stars now. Well done!
Germany
1

Sandy

2022-11-03 0-6 months Micro Account
Just got my second withdrawal as scheduled. Trades can be executed without delay. Average spreads and commissions are close to the average level.
Hungary
1

1-10 of 43 comments

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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