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HotForex reviews




Average: 4 based on 219 reviews
4.006095
HotForex
  • Website:
  • Year since: 2010
  • Headquarters: Port Luis, Republic of Mauritius
  • Company registration: HF Markets Ltd., Company No.: 094286/GBL, Republic of Mauritius
  • Regulation: CySEC (license 183/12), FSC Mauritius (license #C110008214).

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REVIEWS & RATINGS

Rating interpetation



Pakistan

August 21, 2016



3 Total
0.6 with this Broker


CySEC fines HotForex and OptionTrade parent €105,000 for misleading investors

https://www.leaprate.com/2016/08/cysec-fines-cif-hf-markets-ltd-e105-000/

The Board of the Cyprus Securities and Exchange Commission (CySEC) has informed that it has decided to impose a total administrative fine of €105,000 to the CIF HF Markets (Europe) Ltd.

HotForex_Logo_bigHF Markets (Europe) Ltd runs the retail forex broker HotForex (hotforex.com) and binary options firm OptionTrade (optiontrade.com) businesses.

The full breakdown of the fine is linked to below. However the largest portion of the fine was due to information provided to the company’s clients being not fair, clear and non-misleading. In particular, CySEC noted that the company’s employees downgraded the risk of loses in trading the products offered by the company.

The fines were for noncompliance with the following legislation:

the Directive DI 144-2007-01 of 2012 of the Securities and Exchange Commission for the Authorisation and Operating Conditions of CIFs,
the Directive DI 144-2007-02 of 2012 of the Securities and Exchange Commission for the professional competence of Investment Firms and the natural persons employed by them.
In reaching its decision, the CySEC has taken into consideration the following:

the amount of administrative sanctions provided in the relevant legislation,
the importance attributed to the need to ensure that the persons subject to the supervision of the CySEC fully comply with the provisions of the Laws and the relevant Directives,
the seriousness attributed to the CIF’s obligation to act fairly, honestly and professionally in accordance to the best interests of their clients,
The importance attributed to the exercise of efficient supervision of the externally outsourced provider, such as not to prejudice the quality of control of the CIF and the interests of the clients,
The importance attributed to the protection of CIF clients’ interests,
the adoption of correctives measures/actions on behalf of the Company such as, inter alia, the following:
-the Company has proceeded in terminating its business relationship with the Provider,

-the Company has proceeded in reviewing its existing agreements (introducing brokers agreements with Service Providers), so that the type of services that Service Providers (introducing broker/affiliate) may offer have been clarified, and specifically that the Service Providers’ employees may not offer investment advice the Company’s clients.

-the Company has not committed a similar violation in the past.

To view the full report, http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=1888f6fa-f385-4c1d-a967-7aa9d9a5e6f0

Tags: HotForex reviews

Quezon, Jesse Quezon

August 19, 2016



6 years Total
1 year with this Broker
5


Good broker, all withdrawals guaranteed with in the given time frame, they do have an active support for certain issue they do keep updates, calls if needed, live chat is a good option. over all the platform is mt4, execution is good, pretty stable. in my opinion i say there is room for improvement, though i have been asked before regarding US traders sadly this broker do not accept any. over all they get a satisfactory rating from me.. well done

Tags: HotForex reviews

Ho Chi Minh, Khang Le

July 4, 2016



2-3 years Total
2 years with this Broker
5


I have been trading with hotforex for 1 year and very pleased with the services. I faced a few of issues and all them has been resolved by the CS in maximum 2 days, I also got reimbursed for server problam. High recommendation!

Tags: HotForex reviews

Vietnam, Minh Vu

April 12, 2016



2 years Total
1 year with this Broker
5


Came to this broker because its bonus program, hotforex offers various bonus programs and webinar regularly. I then deposit to start trading with Zero account type. Its spread in E/U pair was very low about 0.2 - 0.5 pip, gold is higher but not too much. Fast execution and no requotes. Totally satisfied with this broker.

Tags: HotForex reviews

Mindanao, Allen

March 11, 2016



3 yrs Total
1 yr live with this Broker
5


I traded hotforex 2 months demo and 5 months live, mainly focusing on jpy pairs and eurusd, lately i have been trying to venture more into oil trading. Withdrawal is processed basically with in 48hours max, made 3 withdrawals and all are processed with in the given time or earlier. I hope this continues and will update if there are any changes. for now its all good.

Tags: HotForex reviews

Bong Fuentes

January 14, 2016



6y Total
1y with this Broker
5


Easy to deal with, straight forward execution and services, no issues with withdrawals what so ever. and this is based on experience actual live trading, I can safely recommend and there are other colleagues that trade with me at hotforex. good broker

Tags: HotForex reviews

Lithuania

December 22, 2015



7 years Total
2 years with this Broker
5


Don't have any problem with them.Really good broker www.hotforex.lt

Tags: HotForex reviews

Rang Pemang, Indonesia

December 7, 2015



5 years Total
4 years with this Broker
5


Started to work wit them after some time they went online. It's been 4 years I trade with them and I know this broker is just perfect in every regard. I've been scalping and swing trading with them, tested all their accounts except VIP and everything works correctly and properly. Spreads and execution is always on top and if you don't make a handle yourself to get slippage or spreads (for example during rollover or volatility times) you will never get your order filled at bad conditions.
90% of issues comes from trader mistakes.
Keep that in mind
R

Tags: HotForex reviews

Vietnam, Hoang Thanh

November 25, 2015



1 year+ Total
4 months live with this Broker
5


I withdraw once a month and the fund always come fast in 2 days (from myWallet to my bank account). I am very satisfied about payment process.

Tags: HotForex reviews

Pakistan, Imran A

November 24, 2015
5


I`m trading demo with Hotforex from last 5 months and I started live trading just before two months back and I must say this is one of the good broker in current Market. They have very tight spread and withdrawal is fast. Lets hope that they will keep this and I`ll have same opinion for them in future.

Tags: HotForex reviews

Russia,Vsevolod Vasilyev (Ecuador,Amaury Lamoureux)

November 10, 2015



2 year Total
1 year with this Broker


I started my forex career with hotforex because they were able to get me up and running the quickest. (They accept credit cards to start your account right away, but then ask you for all the same documentation as the other guys) Yes, the spreads are terribly high. In my opinion, this broker preys on the new and uninformed. When you first enter a trade you are required to risk the highest possible amount. After the trade is entered, you can go back and change your stop, BUT they will only let you move it to within 15-20 pips. They don't like for people to minimize their risk. I quit using them in under a week.

Tags: HotForex reviews

Poland, Vovkfx

November 2, 2015



3 years Total
- with this Broker
3


Good broker with good trading conditions. Low spreads and many instruments. Yes, they are a market maker, but I didn’t have many troubles with them. They have different licenses, that make me trust them. If you want learn more about it you can find me in skype, my id is vovkfx.

Tags: HotForex reviews

Russia,Vsevolod Vasilyev (norway,Jeremy Pemulwuy)

November 2, 2015



2 year Total
1 year with this Broker


I have an account with HOTFOREX.They are great scammers ever i seen in internet.My first deposited taked 1 week to be in my account in hotforex.i deposited via webmoney and usualy it take only 1 day.My favorite currency is gbp/jpy. i had a position on gbp/jpy 2 weeks ago and it was in profit 110pip. i left that open.after 1 day the gbp/jpy went down about other 180 pip.i puted takeprofit for position.the price raeched my tp.but i saw the chart they deleted my position and delet all my profit(about3000$).i contacted them via phone but no answer.the online support terminated the chat.and they didn't answer my e-mails.i requested to withdraw my initial money .i sent them the withdrawal form by fax and e-mail.but after 10 days they didn't answer me.do not pay attention to positive reviews.this company is really big scam.

Tags: HotForex reviews

Russia,Vsevolod Vasilyev (Finland,Harrison Packard)

October 31, 2015



2 year Total
1 year with this Broker


Trading with HOTFOREX BROKER is not good enough I have been trading with HOTFOREX BROKER for a little over two months, using a VPS in the same data center. High spreads, slow execution, high slippage, very much unhappy with the service.
Big scammers!

Tags: HotForex reviews

SPAMMERS

October 30, 2015



N/A Total
N/A with this Broker


the only JOKE I see here is a Mexican dude named Filipe Rodriguez trading forex from RUSSIA.. SERIOUSLY???!!! of all fake names to choose from you had to use a Hespanic name to post your fake review from a RUSSIAN IP? the same goes for the past 7 reviews posted below all coming from most probably the same person.

A reminder to all page users, pls back up your claim with evident details, account number or email address. lets not abuse the privileges provided by such a good site. and be wary of what we take in.

Tags: HotForex reviews
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