Overall Rating: ★★★★☆ (4.2/5.0)

HotForex, now operating globally under the HFM brand, is a multi-asset broker established in 2010, offering trading on forex, commodities, indices, shares, bonds, and cryptocurrencies. The broker is regulated across multiple jurisdictions including CySEC, FSCA, FSC Mauritius, and FCA (UK) via its parent company HF Markets Group. HotForex is popular among retail traders due to its low minimum deposits, zero-commission accounts, Islamic trading options, and MT4/MT5 platforms.

This HotForex review examines its regulation, platform features, pricing structure, and overall value in 2025.

Key Features

HotForex delivers a user-friendly trading experience backed by strong global reach and diverse account options.

• Trading Platforms:
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • HFM App for account management and trading
• Markets Offered:
  • Forex, indices, stocks, commodities, ETFs, bonds, and cryptocurrencies
• Account Types:
  • Micro, Premium, Zero Spread, Pro, and Islamic
• Leverage:
  • Up to 1:30 (EU/UK clients)
  • Up to 1:1000 (global clients under FSC)
• Minimum Deposit:
  • From $5 (Micro account)

Regulation and Security

HotForex (HFM) operates under multi-jurisdictional regulation, ensuring strong oversight for EU and global traders alike.

• CySEC (EU) – Licence No. 183/12
• FCA (UK) – Reference No. 801701
• FSCA (South Africa) – FSP No. 46632
• FSC (Mauritius) – Global business licence
• DFSA (UAE) – For MENA clients
• Segregated client funds and negative balance protection
• No investor compensation scheme under Mauritius entity

Pricing and Costs

HotForex offers flexible pricing models with both commission-free and raw spread accounts.

• Spreads:
  • Micro/Premium: From 1.0 pip (zero commission)
  • Zero Spread: From 0.0 pips + commission
• Commission:
  • Zero Spread Account: $6 per lot round-turn
• Deposit/Withdrawal Fees:
  • No fees for most methods
• Inactivity Fee:
  • $5/month after 6 months of inactivity

Educational Resources and Customer Support

HotForex provides a strong suite of educational content and accessible support.

• Education:
  • Video tutorials, webinars, eCourses, and market analysis
  • Trading tools like Autochartist and VPS
• Customer Support:
  • 24/5 live chat, phone, and email
  • Multilingual support in over 25 languages

Risk Management Tools

HotForex includes standard risk tools and some advanced analytics for more informed trading.

• MT4/MT5 tools: Stop-loss, take-profit, trailing stops
• Autochartist for pattern recognition and trade ideas
• Negative balance protection
• No guaranteed stop-loss orders (GSLOs)

Pros and Cons

Pros

• Multi-regulated broker with global coverage
• MT4, MT5, and mobile app access
• Low minimum deposit from $5
• Wide range of account types including Islamic
• Strong educational resources and support tools

Cons

• Mauritius entity offers less regulatory protection
• No guaranteed stop-loss orders
• Raw spreads require higher minimums
• Inactivity fees after 6 months

Conclusion: Is HotForex the Right Choice?

Yes — HotForex is a dependable broker with strong global regulation, diverse account offerings, and beginner-friendly conditions. It’s well-suited to both new and intermediate traders looking for low-cost access to a broad range of markets.

For high-volume or professional traders seeking tighter institutional-grade conditions, IC Markets or Pepperstone may offer better execution, but HotForex remains one of the most accessible and reliable retail brokers worldwide.