✔️ Information reviewed and updated in April 2024 by Pedro Martínez González
In this section we will analyze the broker Hotforex (also called hotforex.com), is a Forex, Cryptocurrency, ETF and CFD broker. Is HotForex really recommended for making an investment? Or is it better not to invest with this company? ⛔ Is it a safe broker? Is a gotcha? We will help you determine it. ✅
You might be wondering why we review HotForex. It is because we have received some messages from clients asking about the company, and we like to think that our reviews page helps investors, by providing key information about the company, we disclose information that every investor should know before leaning or not, for Invest with an investment company.
We carry out this review and assessment, due to the fact that we receive different messages and comments asking about the reliability of the company in question.Are you a representative of this company? Leave a comment responding to customer concerns.
We carry out this review and assessment, due to the fact that we receive different messages and comments asking about the reliability of the company in question.Are you a representative of this company? Leave a comment responding to customer concerns.
Essential information: Who does it belong to? Where is located? Is it a regulated broker?
✅ The broker mentions being part of: HF Markets (SV) Ltd.
✅ Regarding its location, the broker mentions being based in: Saint Vincent and the Grenadines.
✅ If we analyze the regulation of the broker: they do not mention anything about being a regulated broker, which makes us think that it is an unregulated broker.
📌 Remember: the best (and safest) option are regulated brokersas they must meet very strict requirements. Work with an unregulated brokerit's very risky, don't take that risk. 📌
If now we go on to analyze account types offered by HotForex, we note that it offers 6 different types of account / plans: Micro Account, Premium Account, Zero Spread Account, Auto Account, PAMM Account (Premium) and HF Copy Account. We will leave you an image with a little information about each type of account.
Micro account: minimum initial deposit of $5, variable spread from 1 pip, minimum trade size 0.01 lots, fifth decimal place, leverage up to 1: 1000, market execution, maximum number of simultaneous open orders 150, margin alert 40%, stop out level 10%, personal manager account, telephone trading.
Premium account: minimum initial deposit of $100, variable spread from 1 pip, minimum trade size 0.01 lots, fifth decimal place, leverage up to 1: 500, market execution, maximum number of simultaneous open orders 300, margin alert 50%, stop out level 20%, personal manager account, telephone trading.
Zero Spread Account: minimum initial deposit of $200, spreads from 0 pips (Forex), minimum trade size 0.01 lots, fifth decimal place, leverage up to 1: 500, market execution, maximum number of simultaneous open orders 500, margin alert 50%, stop out level 20%, personal account manager, telephone trading.
Auto Account: minimum initial deposit of $200, variable spread from 1 pip, minimum trade size 0.01 lots, fifth decimal place, leverage up to 1: 500, market execution, maximum number of simultaneous open orders 300, margin alert 50%, stop out level 20%, personal manager account, telephone trading.
PAMM account (Premium): minimum initial deposit of $250, variable spread from 1 pip, minimum trade size 0.01 lots, fifth decimal place, leverage up to 1: 300, market execution, maximum number of simultaneous open orders 500, margin alert 50%, stop out level 20%, personal manager account, telephone trading.
HF Copy account: minimum initial deposit of $500, variable spread from 1 pip, minimum trade size 0.01 lots, fifth decimal place, leverage up to 1: 400, market execution, maximum number of simultaneous open orders 300, margin alert 50%, stop out level 20%, personal manager account, telephone trading.
In the following image you can have more information about the types of account. Click here to see image 1 in full size y Click here to see image 2 in full size
Las platforms to operate that HotForex offers are: platforms MT4 y MT5.
We will now analyze the different resources and aids for traders that HotForex provides on its website. We believe that the resources and help provided on the website can be a great point in favor of the broker.
HotForex provides the following aids or resources to traders or interested parties: some live charts, economic calendar, calculators, news, explanations of basic concepts, promotions, really not much more than this.
| Other information about Hotforex |
Some more information in case you want to contact the company, or see its website for yourself.
Website: hotforex.com
Telephone: + 44-2033185978
Email: [email protected]
>>> Assessment on Hotforex <<
Ending with this section, in our opinion Do we believe that the company Hotforex is trustworthy? Should you invest your money with the company?
After seeing all this, we recommend caution, because: it is an unregulated broker based in very unsafe countries (Saint Vincent and the Grenadines in this case); Also, when looking for reviews about Hotforex We found numerous negative reviews warning about this broker. We suggest using caution.
We always recommend working only with properly regulated companies, isn't it better to have the protection of a good regulator? Is it worth the risk if there are much safer options to invest?
You have to understand that one of the few measures that really ensure the clients' money is the regulation of the broker, that is, it is probably the most important thing in any broker; THAT IT HAS A GOOD REGULATION, DO NOT BE FOOLED. Good regulation means that there is an authority to which, in case of misunderstandings or problems, customers can complain.
What is your opinion? Have you traded with this broker? Are you a customer? Do you think our opinion is not correct? We invite you to collaborate with us and vote, you can also leave a comment on our website with your experience if you are a client of the broker.
We leave a vote open so that traders, clients and users of the broker can vote.
[democracy id = ”719 ″]
This company is a hoax. I don't get paid yet, don't do it, you'll thank me later. Greetings.
Hi Agus, thanks for writing about HotForex. Currently this broker is considered a SCAM.
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.