HotForex Review 2020

HotForex Rated 3/5
learn more Learn more about eToro. 71% of retail investor accounts lose money when trading CFDs with this provider.
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HotForex Guide - Read our In Depth HotForex Review

This HotForex review was written by industry experts with over 20 years of financial experience in Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

What is HotForex?

HotForex are an a global online financial trading platform and multi asset broker founded in 2008

Over 12 years later HotForex has grown to offering retail investors Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading.

HotForex are a global broker and have a head office in UK.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this HotForex review and assess how well the HotForex platform functions in its role as an international multiple financial asset trading platform for traders in 2020.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like HotForex can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of HotForex we breakdown the pros and cons. What HotForex are able to offer, what countries HotForex are available in. Who HotForex are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this HotForex review useful.

This review of the HotForex platform is very detailed. If you are interested in trading with HotForex in any capacity please take the time to read and research the whole HotForex review.

We have tried to explain the ins and outs of financial trading through the HotForex platform as plainly as possible so that you the trader are as informed as possible before you start to use the HotForex trading tools and depositing and withdrawing funds from HotForex.

Benefits of trading with HotForex

Open HotForex's Website

Your capital is at risk

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with HotForex like Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. you should have confidence in HotForex and know that the management of your financial investments on the HotForex platform is in good hands.

At the bottom of this HotForex review you can also learn about some pretty good alternatives to HotForex

With this HotForex review we hope to help you see if HotForex is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding HotForex that will help you get off to a good start in the world of online trading.

HotForex Review Table of Contents

HotForex review
HotForex is a Multi-Assets Trading Platform with over 137+ Assets

Learn more about HotForex. HotForex is a multi asset platform with 137+ tradable Assets. Assets available on HotForex include Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

HotForex trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing are considered financial assets.

HotForex review
Features of HotForex

HotForex review
What you should know

HotForex offer five ways to trade: Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

With HotForex you will need a minimum deposit of $5. You can sign up for a demo account to acquaint yourself with HotForex platform.

HotForex are able to accommodate various levels of traders whether you are experienced or a beginner.

HotForex review
Are HotForex safe?

When choosing a broker like HotForex the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 12 years HotForex have a head office in UK.

HotForex is regulated. This means HotForex are supervised by and is checked for conduct by the Financial Conduct Authority (FCA) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to HotForex, this will be honored. If HotForex violate any regulatory rules their regulated status could be stripped.

HotForex review
Is my money safe with HotForex?

Any payments funded to HotForex accounts by traders are held in a segregated bank account.

For added security HotForex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should HotForex use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in HotForex deposited in a Tier 1 bank?

Having any money you deposit with HotForex means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if HotForex goes out of business for some reason.

Therefore, we can safely conclude that HotForex is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. HotForex also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regrding HotForex. let us look at the HotForex features in more detail.

Try creating two accounts when you are working with HotForex. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit HotForex

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How HotForex as a Company Compare Against Other Brokers

Broker hotforex eToro IC Markets XTB
Year Established 2008 2006 2007 2002
Head Office UK Cyprus, UK Australia Poland
Regulation Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Used By 10,000+ HotForex users 12,000,000+ eToro users 60,000+ IC Markets users 250,000+ XTB users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit HotForex Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

HotForex review
HotForex Pros and Cons

What we like about HotForex

  • Used by over 10,000 HotForex users and traders
  • Established in 2008
  • Regulated by Financial Conduct Authority (FCA)
  • Min. deposit from $5

What we don't like about HotForex

HotForex review
HotForex Regulation and Licensing in more detail

We have checked and HotForex is regulated and supervised by reputable organisations. You are able to check every HotForex supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with HotForex. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect HotForex traders and provide a safe trading environment.

HotForex is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as HotForex you should be sure they're legitimate online agent.

HotForex review
Is HotForex Global?

Yes, HotForex is global as HotForex is available in over 194 countries.

HotForex is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries HotForex covers include the UK, Germany, Australia, South Africa, Thailand, the United States and China. HotForex has a total of more than 10,000 users.

HotForex review
HotForex Fees Explained

  • HotForex withdrawal fees varies on payment method
  • HotForex does charge a fee for inactive accounts.
  • HotForex does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How HotForex Fees Compare Against Other Brokers

Broker hotforex eToro IC Markets XTB
Min Deposit 5 200 200 0
Withdrawal Fees varies Yes No varies
Inactivity Fees Yes No No
Deposit Fees No Varies No
CFD Commission Fees No Yes Yes

HotForex review
HotForex Minimum Deposit

HotForex require a minimum desposit of 5 GBP/USD when opening an HotForex trading account.

A minimum deposit is the minimum amount of money required by HotForex to open a new online brokerage account with them.

Dont be scared off by brokers like HotForex charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

HotForex review
HotForex Withdrawal Fees

HotForex withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

HotForex for example allow you to withdraw your funds to Credit cards, Skrill, Neteller, Bitcoins, Bank Transfer, .

HotForex review
HotForex Inactivity Fees

HotForex does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

HotForex review
HotForex Desposit Fees

HotForex does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

HotForex review
HotForex Commission Fees

HotForex does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

HotForex review
What can you trade with HotForex?

Be aware that Different entities under HotForex Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with HotForex over 137 instruments infact.

If you are looking at trading currency pairs HotForex offer over currency pairs.

Compare HotForex with eToro and IC Markets below.

Your capital is at risk

How HotForex Trading Options Compare Against Other Brokers

Broker hotforex eToro IC Markets XTB
Instruments Available 137 2000 232 4000
Platforms MT4,Mac,iPhone,Android,VPS Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 50 65 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 0 19 21
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 957 100 1696
UK Shares Yes Yes No Yes
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit HotForex
Your capital is at risk
Visit eToro
71% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

HotForex review
Trading on HotForex web platforms and other applications

HotForex offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

An HotForex IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

HotForex also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.


See HotForex's platforms

HotForex review
Is the HotForex Trading Platform Secure?

HotForex safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. HotForex also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating HotForex.

HotForex review
HotForex Trading Platform Options

Once you have logged into your HotForex account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)

HotForex does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options HotForex gives you.

HotForex review
HotForex MetaTrader 4 (MT4)

HotForex MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with HotForex. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with HotForex in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. HotForex MetaTrader 4 is compatible with the latest macOS Mojave. HotForex allows traders to trade on mobile devices through Android and IOS devices like the iPhone.

Metatrader 4 Webtrader on HotForex

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade HotForex MetaTrader 4 on IOS Devices

You can download the HotForex app or also trade with HotForex through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. IC Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade HotForex MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. HotForex provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android HotForex MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade HotForex MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

HotForex MetaTrader 4 Advanced Trading Tools

The HotForex advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. HotForex offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade HotForex MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

HotForex MetaTrader 4 AutoChartist

HotForex Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

HotForex Trading benefits :

  • Offers STP
  • Low min deposit

HotForex Trading Accounts Offered :

  • Demo account
  • Standard account
  • ECN account
  • STP account
  • Islamic account

Can I try HotForex before I buy?

HotForex offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

HotForex withdrawal and funding methods.

Please note that the list of HotForex payment methods below depend on the HotForex Entity and the Clients Country of Residence.

HotForex offer the below funding payment methods. learn more about HotForex

HotForex Payment Methods

  • HotForex accepts Credit cards
  • HotForex accepts Skrill
  • HotForex accepts Neteller
  • HotForex accepts Bitcoins
  • HotForex accepts Bank Transfer
Broker hotforex eToro IC Markets XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No Yes No Yes
Neteller Yes Yes Yes Yes

How can I start trading with HotForex?

When opening a trading account with HotForex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on HotForex trading platforms here.

Your capital is at risk

Performing trades with HotForex

HotForex allow you to execute a minimum of trade of varies. This may vary depending on the account you open. HotForex allow you to execute a maxium trade of varies. As HotForex offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

HotForex Leverage and HotForex CFDs Explained

let's take a look at some of the basics of using HotForex leverage.

HotForex offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

HotForex leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the HotForex trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The HotForex leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

HotForex CFDs are typically used for short to medium term trades. For example HotForex intraday trading.

Education resources at HotForex

To trade effectively with HotForex, it's important to get a have a good understanding of the HotForex trading tools and the markets.

HotForex offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with HotForex.

Take time to look around the HotForex platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at HotForex

HotForex support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

HotForex have a D grade support rating because because sometimes the response was slow or our query wasnt answered. HotForex less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at HotForex

We tested the HotForex live chat and it works well. We sent messages to HotForex livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with HotForex support in multiple languages in multiple countries. HotForex where able to resolve our customer issues.

Email Support at HotForex

We sent several emails to HotForex and answer times overall were excellent. The fastest response from HotForex was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with HotForex, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from HotForex.

Phone Support at HotForex

We called HotForex and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The HotForex phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual HotForex team by calling in varying languages. HotForex made an effort to make sure our queries were answered.

Overall the phone support from HotForex was okay.

See how HotForex Support Compares Against Other Brokers

Broker hotforex eToro IC Markets XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit HotForex Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with HotForex

As HotForex is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under HotForex Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore HotForex's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with HotForex you can visit the HotForex trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.hotforex.com on November 21, 2020.

HotForex review
Is HotForex A Good Broker?

We spent over 3 months examining HotForex in depth. Although we found some very useful aspects of the HotForex platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative HotForex broker.

  • HotForex have a good track record of offering Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
  • HotForex has a history of over 12 years.
  • HotForex has a reasonable sized customer support of at least 10.
  • HotForex are regulated by Financial Conduct Authority (FCA). This means HotForex fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • HotForex have regulation from a Tier 1 reputable country.
  • HotForex has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • HotForex have an international presence in multiple countries. This includes local HotForex seminars and training.
  • HotForex are able to hire people from various locations in the world who can better communicate in your local language.

HotForex Risk Disclaimer

Your capital is at risk

HotForex review
HotForex not quite right?

If after reading this HotForex review, HotForex does not fulfill your needs check out these HotForex Alternatives.

Click here to view the best HotForex Alternatives

We have spent years researching the best alternatives to HotForex. Click the links below to learn more.

If you feel some of the above HotForex are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of HotForex alternatives below.

HotForex review
Related HotForex Vs Comparisons

We have covered allot in this HotForex review, If you want to see how HotForex compares side by side with other brokers check out our HotForex Vs pages.

If you would like to see how HotForex stands up against other brokers you can read some of our HotForex comparisons below. We compare side by side some of our top rated HotForex versus comparisons. Read our indepth HotForex VS pages below.

HotForex review
HOTFOREX Frequently Asked Questions

Can I try HotForex before I buy?

HotForex offer a demo account so you can try the HotForex platform before you put down a payment. Learn more here

What funding methods do HotForex accept?

Please note that the list of payment methods below depend on the HotForex Entity and the Clients Country of Residence.

HotForex offer the following funding payment methods Credit cards, Skrill, Neteller, Bitcoins, Bank Transfer, among other payment methods.
Learn more here

Your capital is at risk

Is HotForex safe?

HotForex are considered safe as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA). Any payments funded to HotForex accounts by traders are held in a segregated bank account. For added security HotForex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is HotForex trading good?

HotForex is considered good and reputable to trade with HotForex. HotForex is used by over 10000 active traders and HotForex users. HotForex offers Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. Minimum deposit with HotForex is 5.

Is HotForex trading Legit?

HotForex was founded in UK in 2008. HotForex has been facilitating trade on the financial markets for over 12 years. HotForex offers clients Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. All funds deposited to HotForex are held in segregated tier 1 bank accounts for security. HotForex is regulated by Financial Conduct Authority (FCA) so can be considered legit.

Is HotForex a good broker?

HotForex is overseen by the top tier financial regulators Financial Conduct Authority (FCA) so can be considered a good broker. HotForex allows Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading.

Is HotForex trustworthy broker?

HotForex can be considered trustworthy. All money funded to HotForex is placed into a segregated tier 1 bank account. this means your money in not held by HotForex directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also HotForex is regulated by Financial Conduct Authority (FCA).

What is the minimum deposit for HotForex?

The minimum deposit to trade with HotForex is 5.

How long do HotForex withdrawals take?

Withdrawing money from HotForex processing time varies but averages 2-5 days.

Is HotForex regulated?

HotForex is regulated by Financial Conduct Authority (FCA).

Is HotForex a market maker?

HotForex is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with HotForex?

When opening a trading account with HotForex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on HotForex trading platforms here.

Is my money safe with HotForex?

HotForex is regulated by Financial Conduct Authority (FCA). One of the most important criteria for traders when choosing a broker like HotForex is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to HotForex, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is HotForex a con?

HotForex is regulated and well established having been in business for over 12 years. HotForex is definitely not a con.

Can you make money with HotForex?

Although traders have had great success with HotForex. Trading on the financial markets with HotForex is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does HotForex have fees?

HotForex withdrawal fees varies on payment method. HotForex does charge a fee for inactive accounts. HotForex does charge deposit fees.

When was HotForex founded?

HotForex was founded in 2008.

How many people use HotForex?

HotForex is used by over 10000 registered HotForex users.

What is HotForex Headquarters country?

HotForex has its head quarters office in UK.

Does HotForex offer negative balance protection?

HotForex does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does HotForex offer guaranteed stop loss?

HotForex does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does HotForex allow scalping?

HotForex does not offer scalping.

Does HotForex allow hedging?

HotForex does not offer hedging.

Does HotForex offer CFD trading?

HotForex offers CFD trading.

Does HotForex offer STP?

HotForex offers STP trading.

How many people use HotForex?

HotForex is used by over 10000 HotForex users and traders.

Is HotForex an ECN broker?

HotForex offers ECN trading.

Does HotForex offer a demo account?

HotForex offers a demo account.

Does HotForex offer an Islamic account?

HotForex offers a Islamic accounts.

What are the funding methods for HotForex?

HotForex accept the following funding methods : Credit cards, Skrill, Neteller, Bitcoins, Bank Transfer, .

HotForex review written by Andrew Blumer and Mark Hansen

We hope you found our review of the HotForex brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

HotForex review written by Mark Hansen of Comparebrokers.co