Is HotForex a Scam?
Six years of experience in the forex industry, hundreds of thousands of live accounts and dozens of employees around the world should be more than enough to convince anybody that this broker is completely reliable. However, we understand if you want to see for yourself is HotForex a scam because one can never be too careful when it comes to their hard-earned money. As a matter of fact, we are here to help you with that. Our team of financial experts took a long hard look at the company’s security system, and we are more than happy to share our findings with you. Keep reading and see if HotForex meets your security standards.
Is HotForex a Scam? | License and regulation
First of all, we have to say that HotForex is fully regulated by CySEC. Not only that, but the company has also been regulated in 14 different countries across Europe, from Portugal to Estonia. Therefore, you can be sure this broker conducts its business in full accordance with the EU’s Markets in Financial Instruments Directive (MiFID). Should you ever require compensation, you can turn to the ICF (Investor Compensation Fund) on Cyprus, a body dedicated to securing claims of clients who are unable to get their money from the fund’s members. HotForex is a member of this organization, so you are pretty well covered if you ever find yourself in a situation where you can’t access your funds. However, we don’t believe that to be very likely to happen. Why? Read on and the answer to the question “Is HotForex a scam?” will come to you on its own.
Is HotForex a Scam? | Trading platform
When trading online, it is very important that you feel comfortable and safe in your trading environment. This is where brokers’ trading platforms play a vital role. In HotForex’s case, everything is pretty simple and straightforward because this company decided to go with MetaTrader 4, the most reliable software in this industry today. This is another way for you to check is HotForex a scam or not, since this platform always delivers high-quality results and has proven itself over and over again in numerous occasions. Simple and intuitive design allows you to easily find what you’re looking for and the broker even introduced some additional features to expand its offer a little. You can read more about those features in our HotForex Review 2016, but suffice to say that all your trades will run very smoothly here. There is no way this platform will cause any problems for you, so we can move on with our tests.
Is HotForex a Scam? | Transfer methods
Usually, when somebody wants to know is HotForex a scam, they want to know about the transfer methods this broker has to offer and their reliability. Fortunately, we can tell you a thing or two about this topic too, because we tested every single transfer method available on their website. They can be divided into three categories: bank wire transfers, credit cards and online payment systems. The latter two offer a huge variety of choice, so don’t worry about finding the right method – you have plenty to choose from. They can all be used for both deposit and HotForex Withdrawal, and we honestly have to say that no problem ever occurred. Our money was always delivered on time in its full amount. We should also say that the website has a Norton Security certificate, meaning that it’s completely free of viruses and malware.
Is HotForex a Scam? | Account types
Accounts also need to be examined if we are to determine is HotForex a scam or not. We are happy to say that the broker excels in this respect as well, because they only conduct business with the most prominent banks in the world (BNP Paribas and Barclays UK are good examples). Therefore, you can count on fully segregated accounts which cannot be accessed by the broker. In other words, your money is perfectly safe and available only to you. We should also say that account types here are quite numerous and diverse, but they all deliver what they promise, so you once again have loads of options in front of you. Even the unique HotForex PAMM account functions flawlessly, so you can experience forex trading from a slightly different perspective. In any case, asking is HotForex a scam now seems a bit unnecessary, but let’s dig a bit deeper and find out more.
Is HotForex a Scam? | Bonus policies
One last thing we want to mention in this analysis is the HotForex Bonus system. Once again, you can expect a lot of options here, from initial bonus offerings and loyalty program to the broker’s own webshop. There are even contests for demo accounts where you can win real money without investing a cent. We have to emphasize here that some bonuses cannot be withdrawn, while others require certain conditions to be fulfilled before withdrawal becomes possible, so it is quite important that you inform yourself thoroughly about each offering. Luckily, this can be done very easily because the broker’s website has all the information readily available. Nothing is hidden from you, and you can easily find out everything you want to know. Is HotForex a scam? Time to wrap things up.
Is HotForex a Scam? | Conclusion
The first thing that you notice when you start examining HotForex’s offer is the sheer number of possibilities you have while trading with them. They are also fully regulated by CySEC and 14 other national regulatory bodies across Europe, so from a legal standpoint they checkout completely. Furthermore, their platform is extremely reliable and their trading methods function without any problems. The company is careful to conduct its business with only the most renowned banks, which is another assurance of their reliability. So is HotForex a scam? No, we don’t believe they are. If you’re looking for a reliable trading partner, we have absolutely no hesitation when it comes to recommending this broker to you. Go ahead and open an account with them, you won’t regret it!