User Review
5 (3 votes)


HotForex is a commodities and forex broker that provides online trading services to institutions and retail traders. The hottest features of HotForex include several types of accounts, trading tools, trading platforms, and a variety of spreads. The trading conditions are superior and the FX broker has a reputation for executing trade orders at super speed.


• 8 plus years of valuable industry experience
• Over 1.3 million registered trading accounts
• 20+ industry awards
• Employs over 200 people from different parts of the world
• Supports 27 plus languages


• Users only trade cryptocurrencies but don’t own them.

HotForex provides all the educational and training services and tools that new as well as seasoned traders require in order to meet their trading goals.

The following is a brief overview of HotForex:

  • 8 plus years of valuable industry experience
  • Over 1.3 million registered trading accounts
  • 20+ industry awards
  • Employs over 200 people from different parts of the world
  • Supports 27 plus languages

HotForex is the recipient of several industry awards, as follows:

  • International Business Magazine’s Best Forex Broker Latin America (2018)
  • One of World Finance Magazine’s Top 100 Companies
  • Global Brands Magazine’s Best Global Forex Trading Education Provider (2018)
  • Global Banking & Finance Review Awards’ Best New Forex Broker South Africa (2016)
  • Mean Dubai FX Show’s Best Forex News & Analysis Provider (2016)

Reasons for South Africans to Sign Up at HotForex

Why choose HotForex?

South African investors have the following reasons to sign up at

  1. Excellent Trading Conditions – The trading environment at comes with the following features:
  • Tight spreads
  • Hedging and scalping permitted
  • Leverage of up to 1:1000
  • Winner of 20+ industry awards
  • 24/5 customer support
  • Online account management through myHF
  1. Superior Trading Tools – HotForex offers almost everything that traders need to make profitable trades, and that includes the following:
  • One-click trading
  • Free VPS hosting
  • 18 trading tools
  • Free educational material
  • Market analysis and latest market news
  • Instantly withdraw profits through auto transfer
  • Get updates through text messages
  • Exclusive HotForex analysis
  1. Safe and Secure Trading – The trading environment at is safe and secure because it is licensed, uses the services of major banks, and maintains client funds in segregated accounts. In addition, the HotForex has purchased insurance to protect client funds. Besides being a member of the HF Markets Group, its software is tested by Deloitte.
  2. Wide Range of Trading Platforms – HotForex offers MT4 and MT5 platforms for desktops and browser-based trading, MT4 multiterminal, MT4 & MT5 for iPhone, Android, and iPad. Customers can also opt for the RapidTrade API.
  3. Several Types of Accounts – While the minimum deposit for micro accounts is just $5, the minimum deposit for platinum accounts is $500. In addition, traders can choose from VIP accounts, Islamic accounts, PAMM accounts, zero spread accounts, Fix accounts, and demo accounts.
  4. Trade Smart at HotForex – HotForex offers trading on a variety of currency pairs, CFDs, and commodities. Clients can avail of a credit bonus of 100%, a supercharged bonus of 100%, plenty of promotions, and competitions based on performance.

Is HotForex Reliable FX Broker?

HotForex regulation

HotForex is an online trading brand belonging to HF Markets (SV) Ltd, which is registered as an international business company in St. Vincent & the Grenadine. The parent company is licensed and regulated by the following regulatory bodies:

  • UK Financial Conduct Authority (FCA)
  • Dubai Financial Services Authority (DFSA)
  • Financial Sector Conduct Authority (FSCA) in South Africa
  • Financial Services Authority (Seychelles)

Your funds are safe at HotForex for the following reasons:

  • The company safeguards its liabilities against its clients and partners through a civil liability insurance of €5 million, which covers against omissions, errors, fraud, negligence, and a wide range of other risks that may lead to financial loss. Clients don’t have to pay for this protection.
  • HotForex uses only the major financial institutions and banks.
  • The company maintains client funds separately from its own funds to ensure that clients will get a refund in case the company shuts down.
  • The company offers negative balance protection so that clients don’t have to pay back a negative balance.

Types of Accounts

HotForex account types

You can choose from the following types of accounts at HotForex, depending on your personal trading style, goals, and requirements:

  • Micro Accounts – You can open micro accounts on the MT4, MT5, mobile trading, and WebTrader platforms. The spreads start from 1 pip and you can get a maximum leverage of 1:100. The minimum opening deposit amount is $5.
  • Premium Account – You can open premium accounts on the MT4, MT5, mobile trading, and WebTrader platforms. The spreads start from 1 pip and you can claim a leverage of up to 1:500. The minimum opening deposit amount is $100 and the minimum trade size is 0.01 lot.
  • HFCopy Accounts – This type of account is open for followers as well as strategy providers (SPs). SPs who open HFcopy accounts to get followers and make trades can earn up to 50% in performance fees. Followers can open HFCopy accounts to identify successful SPs and copy their trades.

You can open HFCopy accounts on the mobile trading, WebTrader, and MT4 platforms. The spread starts from 1 pip and you can get maximum leverage of up to 1:400. The minimum opening deposit amount is $500 for SPs and $100 for followers.

  • Auto Accounts – This type of account gives investors the opportunity to subscribe to paid as well as free trading signals. You can open an auto account on the MT4, mobile trading, and WebTrader accounts. The spread begins from 1 pip and the maximum leverage is 1:500.
  • PAMM Accounts – Two types of traders can open a PAMM account—fund managers and investors. Investors do not have to trade as all the trading is done by fund managers, who get paid for this service.
  • Zero Spread Account – This is a low-cost and accessible trading solution that works well for all types of traders, especially high-volume customers, scalpers, and traders relying on Expert Advisors (EAs). The spread starts from zero and the maximum leverage is 1:500. The minimum opening deposit amount is 1:500.
  • Islamic Accounts – Islamic accounts are available across account types such as premium, micro, zero spread, Fix and auto.

Trading Instruments

HotForex trading instruments

HotForex offers excellent trading opportunities and a large portfolio of products such as CFDs on spot metals, cryptocurrencies, forex, indices, shares, energies, and bonds.

  • Cryptocurrencies – Trade digital currencies such as Litecoin, Ripple, Dashcoin, Bitcoin, and Ethereum.
  • Forex – HotForex offers forex trading with spreads starting from 0 pips.
  • Metals – The broker offers gold and silver trading.
  • Shares – Trade shares of prominent companies such as Facebook, Apple, and Google.
  • Indices – Trade the leading indices of the world, including the Shanghai Composite and the USA100.
  • Energies – Trade futures and spot contacts in gas and oil.
  • Bonds – HotForex offers bonds ranging from UK Gilts to Euro Bunds to US Treasury Notes.
  • Commodities – You can open a position from a minimum of US$10. You can trade commodities such as copper, sugar, and coffee.

Trading Platforms

HotForex trading platforms

HotForex offers MT4 and MT5 trading platforms for desktop, browser-based trading, and mobile trading.

  1. MT4 Platforms – MT4 platforms are available for desktop, web trading, multiterminal trading, and trading on mobile devices such as Android, iPad, and iPhone.
  2. MT5 Platforms – MT5 platforms are available for web trading, desktop trading, and trading on mobile devices such as Android, iPad, and iPhone.
  3. HotForex FIX/API – This platform provides market access to clients who prefer using FIX protocol. It is ideal for traders who use automated quotes engines, advanced types of orders, automated trading systems other than MT4, and order-routing management systems. The minimum opening deposit amount for this platform is US$200,000, which traders have to maintain in their accounts.

How to Get Help

There are many ways to contact HotForex:

  • Online contact form
  • Email to [email protected]
  • Call the toll-free number +44-2033185978 for global support and +234 7063705519 for Nigeria
  • Write to HF Markets (SV) Ltd, Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont, Kingstown, St. Vincent & the Grenadines

Unique Features of HotForex

Unique Features of HotForex

The following are some of the features unique to You will not find these features at any other Forex or CFD broker:

  • Tools – HotForex offers a wide range of trading tools such as VPS hosting service, HF App, trading calculators, autochartist, and others to help customers make profitable trades. In addition, traders can use analysis tools such as forex news, economic calendar, HotForex Exclusive Analysis, Traders’ Board, and much more.
  • Education – HotForex is one of the best brokers for webinars, seminars, video tutorials, eCourse, and Forex education.
  • Free Funding – You can fund your HotForex account absolutely free of charge. If your preferred deposit option is Bank Wire and your bank charges you fees, you can get a refund from the broker.
  • HotForex Merchandise – HotForex offers merchandise such as branded T-shirts, gold bar USBs, branded key rings, umbrellas, and others absolutely free of charge.
  • Contests – Participate in a wide range of contests, including monthly draws and win amazing cash and non-cash prizes.
  • Rewards – The HotForex rewards program comprises four levels—Red, Silver, Gold, and Platinum. The FX broker awards HotForex Bars in exchange for each active trading day. Clients can exchange their bars for trading services or cash.

If clients verify and fund their myHF account, they will get 100 HotForex Bars. Moreover, the FX broker will assign them the first level, called HotForex Red, just for registering for HotForex Trading Rewards.

  • Bonus Offerings – HotForex offers two types of bonuses—100% Supercharged Bonus and the 100% Credit Bonus. The former is automatically calculated and credited and can be either traded or withdrawn. The latter can be withdrawn only if traders meet the volume requirements. FAQ

HotForex FAQ

Q1: What is the difference between trading accounts and myHF accounts?

A: The myHF account is actually a wallet that is created automatically when you open a trading account at HotForex. You can use it to load your account and withdraw your profits and to make internal transfers among your trading accounts at HotForex.

Trading accounts are live or demo accounts that you can create from your myHF area to trade available assets.

Q2: Is it mandatory to provide copies of my documents to open a trading account at HotForex?

A: You have to mandatorily provide copies of the following documents to open a live account at

  • ID proof such as passport, driving license, or national ID card
  • Proof of address such as utility bills or bank statements not more than six months old

You can either upload these documents in your myHF area or send them through email to [email protected]

Q3: What is the minimum amount I should deposit to start trading?

A: The minimum first deposit amount varies from one type of account to the other.

Q4: How do I manage my risk at HotForex?

A: You can use the stop loss order and limit order to minimize your risks. While limit orders restrict the maximum price that has to be paid or the minimum price that has to be received, the stop loss order automatically liquidates positions to limit losses in case of unfavorable market movements.

Q5: Which is the best trading strategy?

A: You should use a combination of economic fundamentals and technical factors while creating a trading plan. While technical traders use trend lines, charts, resistance and support levels and a variety of mathematical and pattern analysis to identify the best opportunities, fundamentalist traders use the latest news, government-issued reports and indicators, and also rumors to predict market movements.

Conclusion – Should You Register at HotForex?

Having thoroughly researched this broker, we feel that you should. If you live in South Africa or Nigeria, HotForex is the ideal FX broker for you as it is regulated in South Africa. Moreover, there are plenty of advantages of trading on HotForex such as demo accounts, MT4 & MT5 platforms, free educational material, bonus offers, and promotions, and much more. We suggest that you get started with a demo account.

HotForex Review

HotForex provides all the educational and training services and tools that new as well as seasoned traders require in order to meet their trading goals. Th

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