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HotForex review – terms of cooperation, analysis of the false project, reviews of ex-traders about the lack of earnings
HotForex is a financial company that was founded quite a long time ago and has been providing its services to traders almost all over the world for a long period of time. At the same time, the representatives of this financial organization themselves do not provide all the necessary details regarding their service. For this reason, Broker Rating specialists decided to check real information about the broker’s work in order to find out whether our readers should resort to the services of this office or whether it is better to bypass it.
|Regulation and jurisdiction
FSA (Saint Vincent and the Grenadines)
Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines
Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus
- Multiple trading platforms and mobile app available
- A wide range of financial instruments for profitable work of users
- Beginners have access to a demo account to test the terminal
- Lack of information regarding the founders of the financial project
- No official license provided
- Questionable registration details
HFM Trading Platform
|Types of accounts
Credit cards Visa/Mastercard/Maestro
International payment systems Skrill, Neteller, Perfect Money
Up 0.01 pips
Up 0.0 pips
Cryptocurrency, currency pairs, indices, commodities, precious metals, shares of large international financial corporations, energy, Forex
Registration bonus up to 20%
Information about the HFM broker
HFM is a licensed global multi-asset broker providing trading services to both individuals and businesses. The company offers a wide range of trading instruments, including CFDs on Forex, commodities, bonds, metals, energies, stocks and indices. It provides services with leverage up to 1:2000, providing ultra-fast trade execution, fast deposits and withdrawals, and also offers swap-free accounts.
HFM has been providing services since 2010 and has achieved significant success since then, with over 2.5 million client accounts and over $2 billion in client deposits. The broker has 41,000 partners and offers more than 500 trading instruments.
Legal information about the company indicates that HF Markets Group includes several legal entities registered in different jurisdictions. But these are mostly offshore territories, so we can talk about a low level of reliability and safety. The company is active in more than 180 countries, providing services with separate bank accounts for client funds. HF Markets Group has received over 60 industry awards, highlighting its achievements and credibility.
The organization’s mission is to provide high quality and affordable trading services to a wide range of clients around the world. The main goal is likely to be to provide a reliable and efficient trading platform, as well as to support traders at all stages of their trading activities.
If we consider the reliability of the organization, of course it’s worth starting with the fact that the HotForex broker does not have a license from the Central Bank of the Russian Federation. Accordingly, all statements regarding reliability and safety are empty words. The best solution for a trader would be to avoid interaction with this type of project. After all, no one is involved in regulating the activities of the service; it is logical that the broker can act as he wishes.
Terms of cooperation with HotForex
The HFM website offers different types of trading accounts, each designed to meet the needs of different types of traders.
- cent. Trading platforms: MetaTrader 4, Metatrader 5, Webtrader, Mobile trading. Floating spread. Spreads Pips: From 1.2 points. Account currency: USC. Contract size: 1 lot = 1000 units. Trading instruments: Forex, Gold. No minimum deposit. Leverage 1:2000;
- zero. Trading platforms: MetaTrader 4, Metatrader 5, Webtrader, Mobile trading. Floating spread. Spreads Pips: From 0 per currency. Account currency: USD, EUR, NGN, JPY. Contract size: 1 lot = 100,000 units. Trading instruments: All. There is no minimum limit;
- about. Trading platforms: MetaTrader 4, Metatrader 5, Webtrader, Mobile trading. Types of spreads: Floating. Spreads Pips: From 0.6 points. Account currency: USD, EUR, NGN, JPY. The minimum amount to start is $100;
- premium Platforms MetaTrader 4, Metatrader 5, Webtrader, Mobile trading, HFM. Spreads Pips: From 1.2 points. There is no limit for replenishing your balance.
Each of these accounts offers unique trading conditions to suit different trading styles and strategies. For example, the cent account is ideal for novice traders, offering low-volume trading with minimal risk. The Zero account offers zero spreads on currency pairs, which may be attractive to traders who prefer quick and frequent trades. It is important to note that trading leveraged products such as Forex and derivatives carries a high degree of risk of loss of capital. Traders should carefully evaluate their investment objectives and level of experience before trading and seek independent advice if necessary.
Regarding the supported directions for replenishing your account, there are bank transfers.The minimum deposit amount is $100. There is no maximum withdrawal amount set. Deposit time: 2 to 7 business days. Deposit fee: No fee for deposits over $100.
Credit cards – minimum amount is 5 dollars, maximum is 10 thousand dollars. Deposit time: up to 10 minutes. Account replenishment fee. Additional directions, replenishment amount from $5 to $30.
The site does not provide specific information about the conditions for withdrawing funds. Typically, withdrawals use the same methods as deposits, but different restrictions and fees may apply.
Format for communication with the false HFM project
The broker offers the following options:
- online chat. The HFM website has an online chat feature that allows you to get instant answers to your questions in real time. This is a convenient way to quickly communicate with support and receive prompt assistance.
These methods of communication in fact do not have any meaning, because if you believe the reviews about HotForex, managers do not contact you after replenishing your account.
HFM or HotForex is a licensed global multi-asset broker that provides a wide range of trading services to both individuals and businesses. The company offers CFD trading on Forex, commodities, bonds, metals, energies, stocks and indices. HFM stands out for its competitive trading conditions, including leverage of up to 1:2000, ultra-fast trade execution, fast deposits and withdrawals, and offering swap-free accounts. The company has won numerous industry awards and offers its services in over 180 countries, highlighting its reliability and global presence in the world of online trading. In reality, a broker with offshore registration, without a license from the Central Bank of the Russian Federation. Obviously, there is no point in counting on earnings and returns.
Reviews about HotForex
There aren’t many comments online. Mostly, users are faced with a lack of withdrawal of money and profile blocking.
If you look into the history, make sure that the firm refuses to process withdrawal requests.
Technical support generally stops contacting you after registration.
Chargeback is something that allows you to get your money back. Not all victims of divorce are aware of the launch of a forced cancellation of the transaction. Just for consultation write to us. Managers are ready to tell you in detail how to increase your chances of getting your money back.
Next, you should definitely familiarize yourself with the signs of divorce before registering your hfm.com personal account:
- overly inflated promises of profitability.Fraudsters often promise high returns with minimal risks, which does not correspond to the reality of the market;
- pressure from managers regarding decision-making regarding account replenishment and registration;
- requests for sensitive information such as bank card details or personal data. This looks very strange given the lack of a license and legal registration;
- concealment of information about commissions, trading conditions and regulation;
- difficulties or inability to withdraw funds from a trading account;
- operating without license or regulation by reputable financial authorities;
- using aggressive and manipulative methods to attract clients;
- the presence of hidden fees or commissions that were not clearly indicated initially.
You shouldn’t even waste time getting acquainted with the official HotForex website. We are dealing with the kitchen, so a positive result, and even more so a profit, is something unrealistic.
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