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Regulators: CySEC,FCA,Mauritius FSC,Seychelles FSA,DFSA,FSCA,Kenya CMA
Is hotforex legit/regulated
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.
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.