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hfm (hotforex)

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is hotforex legit/regulated
Peter Lynch
Norway
2023-09-20
ANSWER HotForex, presently known as HFM, is a globally licensed broker that operates under the strict supervision of multiple regulatory bodies. These include:1. The Cyprus Securities and Exchange Commission (CySEC), with license number 183/12.2. The Financial Conduct Authority (FCA), with license number 801701.3. The Mauritius Financial Services Commission (Mauritius FSC), with license number C110008214.4. The Seychelles Financial Services Authority (Seychelles FSA), with license number SD015.5. The Dubai Financial Services Authority (DFSA), with license number F004885.6. The Financial Sector Conduct Authority (FSCA), with license number 46632.7. The Kenya Capital Markets Authority (CMA), with license number 155.These regulatory authorities enforce legal compliance to safeguard investor interests. For example, UK-based accounts are required to maintain segregated client accounts and offer negative balance protection as standard measures. It's important to note that the specific regulatory authority overseeing your account may vary based on your geographical location.However, it is critical to note that the Malaysia Securities Commission (SC) has added HotForex to its Investor Alert List for carrying out unlicensed activities. If a broker receives a warning from a financial regulatory body, it is advisable for investors to reconsider its credibility due to the risks involved.
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does hotforex accept paypal?
Tobiloba Zahid
Swaziland
2023-08-22
ANSWER According to HotForex's website, Paypal doesn't appear to be available on this platform. While you may not be able to use Paypal, we have found a number of other ways for you to fund your account. Below are the screenshots of the HotForex's official website showing relevant information.HotForex offers livechat support, we also recommend contacting their customer service to address your issue. You may find the best solution after chatting with them.Furthermore, BrokersView would like to draw your attention to the risks involved when trading with HotForex. We noticed that it drew a warning Malaysia Securities Commission (SC), which suggesting some certain violations by HotForex. You may refer here for the SC Alert List.
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