Hot Forex are forex brokers. HotForex offers the MetaTrader 4, MT Mobile, and WebTrader forex trading top platforms. HotForex.com offers over 8 currency pairs, CFDs, metals, oil, indices, and shares for your personal investment and trading options.
There are no problems when you want to deposit funds to hotforex but when you want them out the money disappear in excuses. First one is you need to prove how you made your money. I personally had to provide documentation on how i earned my money 10 years back. then i need to provide bank statements from each and every money transfer i have made from that account. I hade to give them this on from what account I moved money to where they arrived and then to next account and next all the way up till today to be allowed to withdraw funds. I had more then half i million usd by them. Now I am removing the remaining 7500 usd I have by them and again I had to prove who I am even tho i went to them for meetings a few months ago. I have been trying to withdraw from 2 different accounts and i have problems with both. First I needed to resend documents proving who I am and after several days of talking to them and getting them to accept the withdrawal it finally went through. this is now more than 10 days ago and right now they don't know where my money went. Normally it takes less then 3 days for me to send money anywhere in the world. When i send the money to Hotforex it took 3 days to arrive. When I withdraw all kinds of things seem to happen to delay funds in being withdrawn. I talked to employees when i went to Cyprus both a few months ago and last month. They both left the company due to them scamming clients and having a hard time with the moral in delaying transfers out already at a profit of I think it was 50 usd you will be experiencing delays and misshabs when you try to withdraw. If you trade Binaries and are succesful you will experience slippage or not being able to close trades in profits. If you still are profitable they will close the pairs telling you they no longer have this "option" available for you to trade. The liquidity provider they use is a partner of Hotforex with whom they share the profits ( your loss ) and if you have a profit it is becoming increasingly harder to withdraw funds.
Zhihua April 22, 2015
I feel so great trading with hotforex since half a year and I guess I have made my choice now by staying with them, I would even try their managed account for a while when I will have to do some personal and professional projects in the next months, I would like to invest my funds instead of letting them on a bank account, this just because I trust hotforex and they have gained my trust through their excellent communication, their customer support and account managers are so friendly, they have been there when I had troubles with disconnections earlier this year, I have noticed that they have got a very tight spreads eurusd on currenex, one thing else they have gave me a good advice about what kind of account I should open.
Unicorn_Madness April 15, 2015
People should be aware that reviews can be bought as a package. I don't believe any of the positive reviews here. First of all, HotForex has a Binary Options division as well. Dumb new traders don't know that Binary Option are BY DEFINITION a scam. Binary Options are no financial instrument. These fake/scam brokers make people think that Binary Options = trading. It is 100% gambling against the broker. Please don't be a stupid beginner and try to research the facts I mention first. So, no way that HotForex is a legit broker while their subsidiary is selling 100% fake made up financial product. I also noticed manipulation of trades on their BO division. Later on I studied HotForex as well and found many abnormal things happening. That is why I am certain I can not trust HotForex. Don't be stupid with your hard earned cash and first learn a bit about the realities of how this nasty Forex scene is working. My advice,... go with a broker which is NOT regulated by CySec or some offshore Island. Find a broker with good regulation. And don't rely on the awards brokers get from their friends. Most awards are given to brokers by their own friends or whatever. Unfortunately many new traders fall for these nasty manipulative things. I'm not evne refering to HotForex, but talking in general. It is painfull to hear quite often beginners end up being scammed by their broker.