Hot Forex Review for Beginner
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Who owns Hotforex?
The Hotforex brand is founded in 2010 by the HF Markets group. St Vincent.
Where is Hotforex based? The head office is located in Cyprus, while the other offices can also be found in Grenadines, St Vincent, and Kingston.
It works on the ENC/STP model, which implies that the trades are passed through third-party liquidity providers to ensure there is no conflict of interest with the clients and lower spreads. Hotforex is a company that has won many awards for providing excellent brokerage services to the people investing in CFD and forex trading. This brokerage firm claims to serve more than one million people from various countries trading in bonds, cryptos, indices, currency pairs, and commodities.
This Hotforex Review represents the analysis of one well-organized brokerage company where communication, payment options, and payment speed are on an extraordinary level. This broker is well regulated and in the last 10 years made huge improvements in all areas of service. Forex.in.rs evaluation rates this broker as the best broker in the market.
Review of Clients Safety Regulations of Hotforex
Is Hotforex, a regulated broker?
Though regulatory laws and best safety practices protect the investors in forex trade through the forex brokers still some of the brokers provide their clients’ additional protection through their regulations.
In South Africa, HF Markets SA PTY is regulated under authorization number 46632 by FSCA or the Authority of Financial Sector Conduct.
In Cyprus, European HF Markets Ltd. with license no, 183/12 is regulated by CySEC or the Cyprus Securities and Exchange Commission.
In the UK, HK Markets Ltd is regulated under reference no. 801701 by FCA or the Financial Conduct Authority. To get details about their compliance with regulation, you can use this reference number.
In Dubai, HK Markets Ltd is controlled under license no F004885 by DFSA or Dubai Financial Services Authority.
You can get information in this regard to this office. In the Mauritius Republic, HF Markets Ltd is regulated under the license number 094286/GBL by FSC or the Financial Service Commission.
In Seychelles, HK Markets Ltd, with license number, SD015 is regulated by FSA or the Financial Services Authority.
In the Grenadines and the St. Vincent, HF Markets Ltd has been incorporated 2015 under registration number 22747 IBC.
Segregation of Client’s Funds: Hotforex uses segregated accounts of Major Bank to maintain and ensure the safety of the funds of its clients, in the case in the upcoming years it becomes bankrupt.KYC: To check financial crimes like money, laundering, etc. it has been made mandatory for every client to submit a proof of address and his/her legal existence. Protection of website: They have used SSL or Secured Socket Layer to protect their trading platforms and website of Hotforex from securing the encryption of data during online transactionsInsurance: To protect Hotforex in case of fraud, negligence, and errors they have an insurance policy for 5,000,000 Euro. Compensation scheme for investors: Hotforex has offered a compensation scheme via FCA for 50,000 GBP and CySEC for EUR 20,000 to its clients.
Hotforex as regulated broker always verifies all live account clients and in the Hotforex platform each client can upload documents.
Thus, through Hotforex regulation HK Markets Ltd, the parent company of Hotforex, has provided additional protection to its clients. Through various regulatory laws in different countries regulate HK Markets Ltd, it still offered extra security to its clients by using the latest protection systems.
Hotforex regulations implemented by HF Markets Ltd to provide enough protection to its customers include:
- Flexible trading conditions in the platform
- Tight spot with as low as zero pips
- It provides multilingual customer support
- There are multiple regulations in various parts of the world
Hotforex Dashboard – rich and excellent user experience!
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