For hexagonal slotted nut, the multi-station cold forging process was studied in view of slow production speed, high consumables, short service life and serious fracture problems. Firstly, according to the principle of plastic forming and the different forming sequences of each feature, two suitable forming schemes were designed for hexagonal slotted nut. Secondly, based on the actual situation, the simulation of forming processes was completed by Deform-3D. And the internal forming quality and external integrity of the parts in each station of the two schemes were specifically analyzed, and the fracture risk was predicted based on the fracture model of material. Finally, the process optimization was completed by stress analysis, load comparison, etc., and the die structure design, manufacturing and trial production of the optimized process were also completed. The results show that the simulation prediction is accurate, the cold forging effect of part in each station is good, the thin-walled, grooved, hexagonal and other features are fully formed without scratches, cracks, potholes and other problems, and the nut size meets the design requirements. Thus, compared with the current process, the performance and production efficiency of the nut are greatly improved.