Hot Forex Full Review

Hot Forex
















Are you thinking of trading forex with HF Markets? With so many forex brokers online and many being scams, it can be a challenge knowing which brokers you can actually trust with your money. We have done extensively researched and tested HF Markets, everything from the spreads to the trading platform and regulation. So, are Hot Forex a scam or a reputable broker? Let’s find out now…

[WPSM_AC id=743]

Who Are Hot Forex?

Choosing the right broker is almost as important as knowing how to master the markets themselves. Known also as HFMarkets, Hot Forex was established in 2010 and offers a trading platform to both retail and professional traders through MetaTrader. With the option of 3 different types of accounts and access to more than 150 securities, the company has built up a reputable name for itself and has opened over 2.5 million live accounts. Let’s find out more…

Trading Conditions

Let’s have a look at their trading conditions, undoubtedly an important aspect of a broker. We’ll discuss the regulation later but it’s important to note that leverage for this broker is up to 1:30, meaning your money will always be very safe.

Leverage1:30 Maximum
Forex50+ Pairs
SpreadsFrom 0.1 Pip, Account/Pair Dependant
Commission$6 Per Lot, Round Turn
Islamic AccountsYes

Hot Forex offers a wide range of over 50 currency pairs as well as CFDs on metals, energies and commodities, catering to a variety of trading styles. The company has tight spreads from as low as 0.1, making it a super cheap brokerage. The tight spreads make this a perfect broker for EA traders and scalpers a like, alongside swing traders. 

HF Markets have a huge amount of products available to trade, more than enough for any retail trader. If you select one of the account types with commission and no spread, the fee is roughly $6 per round turn on a 1 lot size. This is extremely competitive and one of the cheapest in the market. 

In summary, the trading conditions at Hot Forex are really cheap and extremely competitive compared to other brokers in the market! The 1:30 leverage on hundreds of products is more than enough for all traders. The leverage may be too low for some scalpers but higher leverage of 1:100 or above can be extremely risky. The commissions come it at around $6 per lot traded, and the spreads range from around 1 pip on the commission free accounts. Create your free Hot Forex account now!

Account Types

Of course, it’s ideal to have several account types to choose from and Hot Forex has 3 options…

A Premium account has a minimum deposit of £100 and has a low spread of 1 pip. It’s worth noting that there’s a lot of flexibility in position sizing. The account uses MetaTrader5Opens in a new tab.

A Zero Spread account is described on Hot Forex’s website as suitable for all traders but provides a particularly useful account for scalpers, high-volume traders and individuals who trade with ExpertAdvisors (EAs). With a minimum deposit of £200, a Zero Spread account has spreads from 0 on Forex pairs. Sign up now!

Finally we have The Premium Pro accounts: minimum deposit £5000, spreads starting from 1 pip. The clue is in the name, these accounts are ideal for traders classified under the Professional Clients or Experienced Retail Client categories. Sign up now!

Account TypeMin DepositSpreads
Premium$100From 1 pip
Zero Spread$200From 0 pip
Premium Pro$5000From 1 pip

Hot Forex provides a good range of accounts which meet the needs of all types of traders. For most traders I would recommend the Zero Spread account. The tight spreads and small minimum deposit makes it really the perfect choice for day traders and scalpers. Even swing traders will be best placed using this account. For professional traders with a verifying track record I would recommend the Premium Pro account of course, but for most traders this won’t be possible. 

Are Hot Forex Regulated?

Regulation of brokers is super important; we all want to know that our money is in safe hands. HFMarkets are authorised and regulated by the Financial Conduct Authority (FCA)Opens in a new tab.

Risk RatingLow

In fact, the FCAOpens in a new tab.

Hot Forex Trading Platforms

Hot Forex uses MetaTrader5Opens in a new tab.

Easy to use
Semi-advanced tools for retail traders
Great order execution & order types
Many free indicators and charting tools

Only having MT5 is a bit of a shame considering most brokers do offer more than one platform, for instance IC Markets offer MT4, MT5 and cTraderOpens in a new tab.

Deposit & Withdrawal Methods

Brokers these days are offering a huge amount of different deposit and withdrawal methods, making trading accessible for people all around the world. Hot Forex offers a range of standard options for both deposit and withdrawal:

MethodDeposit Fees
Wire TransferHF will not cover any fees on deposits below $250
Credit Cards$0

The good news for us is that there are no deposit or withdrawal fees when using this broker. It IS worth noting that there is a minimum deposit amount of $50, an extremely low amount which makes it easy for everyone. The deposits should be all in your account within 10 minutes as well, so you don’t have to worry about missing trades. It’s worth noting that deposits via wire transfers take longer due to the banks processing time. Withdrawals are processed extremely fast, which is great to see from a broker. This can be seen online in forum posts from clientsOpens in a new tab.

Although HF Markets has good options for deposits and withdrawals, the $50 minimum deposit for online processors and $250 minimum deposit for wire transfers can dissuade some traders. Most regulated forex brokers aren’t going to take deposits of smaller than $50, so if this is too much then potentially an unregulated broker like EagleFxOpens in a new tab.

Setting Up An Account With HotForex

The process for setting up an account is made fairly easy by this broker. A demo account can be setup with a deposit of $100,000 if you’re wanting to get some practise in and the platform offers plenty of demo money to play with. A ‘Demo’ button can be found on the top right hand corner ofthe screen to open this.

Opening a live account can be easily achieved, using the ‘Open Live Account’ option to the left of ‘Demo’. Hot Forex asks for some Personal Information such as name and country of residence, your Base Currency and your Communication Preferences. Answer the security question and click ‘Register’, its really as easy as that – you’ll be up and trading in no time at all! If you have any issues during this process then the 24/5 live chat support team are always on hand to assist you in the process. Verification of your identity shouldn’t take any more than 24 hours providing your documents are all valid, then you’ll be trading!

Client Support

It’s really important that you can easily get in contact with your trading broker, especially considering you have money sat with them. There’s nothing worse than not being able to find a contact number or just having to wait days for an email back. Hot Forex offers great support, 24 hours a day, 5 days a week so should you be stuck with something they’re always on hand to help out. 

  • Email –
  • Call – +44 2035199898
  • 24/5 Live Chat

They also offer 24/5 live chat support for any urgent help you may need in relation to setting up accounts or issues with your trading accounts. I’ve personally used their live chat support and found them very friendly, helpful and of course it was extremely fast service. 

Reputation & Reviews

Online forums offering reviews of the broker are a useful place to go if you need furtherconfirmation of their reputation and a great way to see whether the broker is legit. Hot Forex have reviews on all of the big forex trading review websites, with a fairly great reputation throughout. Thousands of reviews can’t be wrong! 

ForexPeaceArmyOpens in a new tab.3.8/5
TrustPilotOpens in a new tab.3.8/5

They have over 500 reviews on ForexPeaceArmy Opens in a new tab.


In summary, Hot Forex is a really safe forex trading broker. They offer 1:30 leverage, with a huge amount of tradable products, great execution, MT5 trading platform and very competitive fees! They are fully regulated by the FCA, alongside pretty much every other regulatory body (28 more to be precise). Your money is absolutely safe with this broker, it’s one of the safest brokers in the industry right now! They really have a great reputation online from traders all over the world, which you can see through their hundreds of reviews on all of the popular forums. 

If you have any questions about this broker before signing up, please do leave a comment or get in contact and I will aim to answer any questions you may have for me!

Kyle Townsend

Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders.

Recent Content