I want to know about HotForex, some people talking about that it’s a scam broker is that real?
It’s just about “real” (as opposed to, say, “fictitious”) but an extremely nasty brokerage.
Their main promotional method, it seems, is to pay people to mention them in in favorable contexts in trading forums, so there’ll soon be other members along to extol their praises: take no notice of those at all.
You can easily tell who they are: some are very new members with very low post-counts, and others have high post-counts but with a very significant proportion of their posts mentioning HotForex (often for no apparent reason) just so they can earn their $0.80 for the post.
That should tell you what you need to know about HotForex - and specifically what kind of customers they’re trying to attract and what you can learn from that about how they do business.
Avoid them at all cost - is my advice.
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So? Have you actually tried them? I read a lot of negative and positive comments about my broker (not HotForex). Depositing and withdrawing is smooth. Customer service is great. Trading is good. What else do we need?
So? Have you?
You’ve only been trading 5 minutes so wind your neck back in and let Charlie talk sense to Sophia.
Good luck with IQ Options
IQ Options is a good broker as well. Tried them and withdrew profits.
Since you ask, the two main things you need - neither of which you mentioned - are (a) good regulation, and (b) segregation of client funds.
That’s so that you’re as well protected as you can be, if there’s an “accident”.
You only find out how good a broker is, if there’s an “accident” of some kind. It’s easy to assume that everything’s good until there’s some completely avoidable disaster.
That means you should stick to long-established brokerages regulated in the UK, US or Australia, and avoid at all cost all those unregulated anywhere and all those regulated in Asia, Vanuatu, the Seychelles, the Caribbean and Cyprus. (There are reasons that counterparty market-makers pretending to be brokers choose to be “regulated” in those areas, and to put it very mildly they’re not reasons that are in their customers’ interests!)
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Yeah, I agree with you and I follow these rules too. Sorry, forgot to mention regulation. So, do not only read comments (either negative and positive) but check these important things Charlie and I mentioned. There was a story about FXCM, a regulated brokerage that could defraud customers. Still, it’s a brokerage that services many customers around the world… it’s too complicated sometimes.
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All that anyone needs to know about FXCM is that they have the worst regulatory record in the world.
Countless regulators, worldwide, have been fining them multi-millions of dollars, repeatedly, for as long as they’ve been regulating them.
And the fines relate to how they’ve treated their customers.
(They’ve now been kicked out of the US, as well, and are no longer allowed to operate there.)
Another good one to avoid at all cost.
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Yes, FXCM should be avoided. Although I still don’t understand why TradingView uses their charts… 
You checked already in FPA? If not, please go for it first of all. It can be supportive for you to make sure real answer.
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devoid of using practically its difficult to rate at any brokers minimum demo account. and i don’t believe completely in FPA.
Hi Charlie,
As one of the largest forex brokers in the world, we take pride in the services we offer to our traders. According to Finance Magnates we were the second biggest retail FX broker outside of Japan in Q4 2017. And our monthly metrics released today for March 2018 show we have over 110,000 active accounts and $210 billion in trading volume for the month of March.
I believe this gives you an idea of the level of confidence our traders place in us to provide a trading environment with tight spreads and quality execution. And the level of execution transparency we provide is well beyond what our competitors offer. For example:
Slippage Statistics
The most recent release of our slippage statistics from 1 January 2018 to 28 February 2018 show that…
- 63.49% of all orders had no slippage
- 25.71% of all orders received positive slippage.
- 10.79% of all orders received negative slippage.
- 63.34% of all limit and limit entry orders received positive slippage.
- 42.07% of all stop and stop entry orders received negative slippage.
The full report can be found attached 
execution-transparency.pdf (578.5 KB)
Historical Active Trader Spreads
For Q4 2017, our active trader level spreads for the top pairs were…
- EUR/USD averages 0.2 pips during peak hours
- AUD/USD averages 0.3 pips during peak hours
- USD/JPY averages 0.2 pips during peak hours
And you can find the full report along with additional pairs and products attached spreads-report_ltd.pdf (611.0 KB)
A spreads widget can be found on our website with more recent spreads data for the top pairs.
Jason
.
Risk Warning: Please remember that losses can exceed deposits, and past performance is not indicative of future results.
Historical Spreads: The information provided is historical in nature and does not imply that FXCM maintains a particular capacity or performance level. Past results are not indicative of future performance. The price at which an order is executed does not negate the high level of risk involved with forex trading. Trading could result in losses regardless of the pricing quality of opening or closing transactions.
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You should check FPA as well but most of the negative comments (about good brokers) come from people who have no idea about trading and lost their money because of their clumsiness.
Actually i didn’t i am just learning about them. Thank you
Thank you Hadden , You just give me something usefull.
If you need this brokers review urgently, minimum you can open a micro account in here to see the performance how it works. Maybe it will work. Good luck
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I used to be a big fan of Hot Forex, and have recommended them in the past. Heard they had some issues with regulators, but cannot confirm. Here’s a link to FX Empire HotForex Review 2018, User Ratings, Bonus, Demo & More for more info.
Without top forum it is difficult to believe ay any review. Please don’t take it personally , its according to me.
The company established in 2010 while headquarters in Cyprus, but in addition serves several global offices along with different licenses, which enhances their offering to another world client, established in St. Vincent and the Grenadine as an International Broker Company, in Mauritius and South Africa.
The customer service provides support in 27 languages to meet the clients need, while more than 500,000 Live accounts currently opened in the company. HotForex achievements were recognized over the years by 20 Industry awards. The prestigious titles from some of the forex industry’s most respected awarding bodies including Best FX Broker in the Gulf; Best Broker in China; Best Affiliate/ IB Programme; and, Best FX Broker Western Europe.
You can find HotForex review here.
This broker is pretty well-known in many regions and it is > 5 years old, we can trust this broker but you should have exp before coming to any broker, just open small account to start first then upgrade the account and see if everything is still ok.