My phone cannot access internet on a Wifi network created by mHotspot
There is a detailed process covering all cases for solving the problem.

http://www.mhotspot.com/connected-to-hotspot-but-cant-access-internet-on-client-devices

Disclaimer: I'm with mHotspot.

Update: (Quoting the answer here)


Open Control Panel and navigate to Network &amp; Sharing Center.
Check Access Type for your hotspot.
If you have Internet as Access type, then your firewall or Antivitrus must be blocking mHotspot.
Add an exception to mHotspot in Windows firewall &amp; Antivirus Firewall.
If you have No network access, stop the hotspot. 
Update WiFi drivers and restart the hotspot.