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HotForex scam
HotForex scam

Only a week ago we have been informed that HotForex has acquired a license to operate in the UAE and now the broker has revealed that it has got the esteemed Financial Conduct Authority license. The Financial Conduct Authority is a financial regulatory body in the United Kingdom, but operates independently of the… HF Markets, known by its trading name HotForex, has got its license from the Dubai Financial Services Authority and has now announced about the operations in the United Arab Emirates .

  • While this broker provides average spreads to every type of account, yet it does not provide a time window for the statistics.
  • There are over 100 assets which can be traded with this broker.
  • An extensive broker for any kind of Forex trader with daily market insight.
  • I will of course not invest here, and I hope that the victims can recover their losses as soon as possible.

Also, this broker is providing negative balance protection. HotForex is a brand of HF Markets Ltd, based in Saint Vincent and the Grenadines. Besides this operation, the company is also registered under the same name in Cyprus, South Africa, and Seychelles.

🧐 Is HotForex a Scam?

One can’t take long positions comfortably without fearing trade Manipulation by HotForex. Since I trade very intensively throughout the day and often scalp, it is very important for me to enter the market without a hassle. I want one click – one trade open and not ten clicks on a single trade. My personal experience with this broker as of now is one year. Best platform with worst services as far as withdrawals are concerned.

HotForex scam

I have now paid $300 through some Kenyan phone code number. Yestarday he asked me to pay what I have and he will top up for me with $100 and send my profit today. Which got me very confused and very worried because the money that I sent for tax yestarday I borrowed from someone whom I promised I would pay back the following day which is today.

HotForex is a well-known customer-focused broker that offers a safe, regulated trading environment ideal for practically all traders. The products and services are adapted to unique needs, and clients have access to a wide selection of accounts, tools, platforms, and instruments and the option to choose the best plan. Next up in our HotForex review, we shall evaluate the platforms provided by HotForex for traders to make the most out of their LimeFxs and the company’s services. When we talk about platforms, it’s important to understand that we are talking about the “engine” that powers the broker’s functionality. Each platform is different and offers their own way of handling trades, data display, charts and graphs, and even the user interface shown to customers.

We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. I made a decision to trade with the broker because I liked the speed of execution. Instead employees try to deviate from what your question or issue may be and speak about something completely unrelated to what the problem is.

I made a decision to trade with the broker because I liked the speed of execution. For me it’s the most important thing.

We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey. HotForex is a broker licensed and regulated by the CySec, FCA, FSA, DFSA and FSCA. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest.

Enhancing this area will aid in becoming more comparable to its competitors. Hotforex is a conglomerate which encompasses global and regulated entities. CySEC regulation keep the company far apart from some scam dealing centers. Trading services and facilities to both retail and institutional clients.

LimeFx Review 2023: Is This Broker Platform Safe for Trading? – CryptoNewsZ

LimeFx Review 2023: Is This Broker Platform Safe for Trading?.

Posted: Tue, 14 Mar 2023 07:00:00 GMT [source]

Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times. Yet remember that leverage may work in reverse too, defining also your risks, that is why it’s so important to understand how to lime fx use tool smartly. Besides, HFM offers its trading service along with the applicable licenses in each region it operates that regulate the Forex industry, therefore delivers service trustworthily. HotForex’s cost differs drastically depending on the type of account.

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On this type of account, average spreads on the Euro and USD pair are 0.1 pips, with a fee of about 0.6 pips ($3 for every side) each trade, for a total of 0.7 pips. Buying and selling fees are reduced on this type of account, but the requirements of margin are two times higher as it is on the Premium membership, which has regular spreads of 1.2 pips. Also, there is a size restriction of 60 lots for limefx broker reviews every account which is significantly lower than IG or LimeFx. The minimum deposit for the Micro account is only 5$, while the HFCOPY strategy provider needs to deposit 500$, and follower 100$. Our team of financial experts have years of experience in the foreign exchange markets and can guide you into focusing on the more important factors to look at in selecting a forex broker to sign-up for.

However, both of these platforms provide multi assets, but MT4 is more reliable as forex trading platforms, while MT5 opts for CFDs. Multi-asset international broker HotForex offers its traders to trade CFDs on the stocks of over 900 companies during Earnings Season. The traders will get an advantage of trading with negative balance protection, flexible leverage and tight spreads. Earnings Season is a 6-week period when companies release to the public their quarterly corporate earnings for review… The global broker HotForex offers four generous bonus programs for new and existing traders to have the chance to double their deposits, protect their funds from drawdowns and even get daily cash rebates. International award-winning forex and commodities broker HotForex, offers new and existing traders the chance to kickstart their trading journey with one of…

As such, it is always important to point out which trading platforms are used by each broker we’re reviewing since it’ll help you choose whether or not we wish to user HotForex or what account should we open in HotForex. HFM is a broker with a good reputation and regulations based on our finds. Also, there is truly remarkable education section suitable for beginning traders and one of the best ranges our financial experts saw of webinars and seminars performed globally. HFM, formerly known as HotForex, is an award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients. To get you the details of the HotForex review, let’s take a look at the deposit and withdrawals.

Also, there are HFM entities that are registered in offshore zones alike Mauritius, SVG and Seychelles. While our general recommendation is not to trade with offshore brokers as they simply do not regulate Forex trading, due to HFM multiple parallel regulations it is considered to be safe to trade with them. In simple terms it means the broker is regulated and authorized to offer its trading service along with necessary safety measures and controls applied. We also saw great development of HFM along the ttime, before broker mainly operate in Europe and now is one of the trully global brokers with great coverage of regions. Hotforex provide education and consultation services to forex clients.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your LimeFx objectives, level of experience, and risk appetite.


Deposit HotForex offers various ways, such as wire transfers, cards, and online payments. However, the wire transfer takes 2-7 days to fund your account, while other payment options can transfer the money instantly or take up to 24 hours. Additionally, there are no fees for deposit HotForex and HotForex minimum deposit starts from $5. I started trading in 2016 with hotforex, i opened a micro account and still trading with them with no complaints so far.

HotForex scam

If you wish to secure and protect your automated strategies, or if you simply want to receive a reduced latency for trades, HotForex offers a Virtual Private Server for its clients. Charts, indicators, and calculators can be downloaded directly in MT4 as a complete package. The tools are selected to suit a wide range of requirements, from scalpers to long-term traders. It’s no surprise that scalpers require the best execution possible, hence why I trade with this company. I intentionally compared a couple of other brokers and HFM showed itself from the best side possible.

When contrasted with the finest FX brokers in this area, the material is adequate, a tad over the industry standard. While this broker provides average spreads to every type of account, yet it does not provide a time window for the statistics. It would be both useful and helpful to observe a typical spread presented for a certain timespan, as it’s difficult to measure a fluctuating spread in any other way.

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