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    HotForex

    • Cyprus Cyprus
    • 5-10 years
    • Regulated in Cyprus
    • Market Making(MM)
    • MT4/5 full license
    • Global Business
    Open Account
    WikiFX Score
    Comparison

    The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

    VPS Standard

    No restriction on the broker account. Provide service support by WikiFX

    • Single Core

    • 1G

    • 40G

    Open for free

    Broker Information

    Company Name

    HF Markets Group

    Phone of the company

    00442030978571

    Customer Service Email Address

    support.latam@hotforex.com

    Company address

    Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines

    Katherine & West Suite 18 Second floor 114 West Street Sandton, Johannesburg 2031

    Room S203A, Second Floor, Orion Complex, Victoria, Mahe, Republic of Seychelles

    Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus

    Pyramid scheme complaint
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    WikiFX Risk Alerts 4
    2022.07.05

    The number of the complaints received by WikiFX have reached 26 for this broker in the past 3 months, please be aware of the risk and the potential scam!

    This broker exceeds the business scope regulated by South Africa FSCA(license number: 46632)National Futures Association-UNFX Non-Forex License, please be aware of the risk!

    • Account
    • Benchmark
    Comparison
    Trading software
    • HFCOPY
    • PAMM (PREMIUM)
    • AUTO
    • ZERO SPREAD
    • PREMIUM
    • MICRO
    • Benchmark C
    • Maximum Leverage 1:400
    • Minimum Deposit $500
    • Minimum spread From 1 pip
    • Products --
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    • Benchmark C
    • Maximum Leverage 1:300
    • Minimum Deposit $250
    • Minimum spread From 1 pip
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    • Benchmark C
    • Maximum Leverage 1:500
    • Minimum Deposit $200
    • Minimum spread From 1 pip
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    • Benchmark C
    • Maximum Leverage 1:500
    • Minimum Deposit $200
    • Minimum spread --
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    • Currency --
    • Benchmark C
    • Maximum Leverage 1:500
    • Minimum Deposit $100
    • Minimum spread From 1 pip
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    • Currency --
    • Benchmark C
    • Maximum Leverage 1:1000
    • Minimum Deposit $5
    • Minimum spread From 1 pip
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    Others

    about exposing hf market business to Iran

    HF markets Date of sending the complaint to hf markets: March 12th, 2021 Date Today : Jun 24th,2022 Dear hf markets: I'm sending you this email to complain about exposing your business to Iran and against Iran imposed sanctions, that resulted your weird behaviors. The misconducting that caused me and my client' heavy losses. The parts that you are held liable for my losses are : 1 - By suddenly increasing the commissions and spreads , you made my account solely for the purpose of maximizing your commissions, which is a serious fraud. 2- You failed several times to provide me with the real-time securities prices, and to the worse, you sold some of my holdings/positions based on your unreal estimated prices which then found out to be far from the real prices. As those stocks were never reached at the prices that you made the transactions upon. You are definitely liable for the losses that resulted. 3 - By not allowing to hedge my positions, you took away all the tools that you had to make available to me to stop the losses. If you were complying with the regulations on sanctions against Iran, you didn't have to cut us off in the middle of our active transactions, and to make us huge losses. Sanctions and restrictions are imposed by authorities in the US, EU and elsewhere. The penalties for breaching sanctions are severe. All companies which trade with Iran or which make or receive payments to or from natural persons in Iran are subject to those penalties. I'm entitled to receive all the money that That you have harmed me and my client by not following the rules The exact amount that I expect to get back is ..... After a very long time, no action was taken against my protest Hereby I notify you, if you do not resolve this I will file complaints with the appropriate consumer agencies , as well as with FINRA , with authorities in the US, EU , with your base country and consider my legal alternatives My hf :977447

    FX1582243687

    2022/6/24 4:05:44

    Iran
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    Brokers WIKIFX REPORT: HotForex expands services, rebrands into HFM

    In response to accelerated company growth HotForex has announced its expansion in product offering, noting that the company is undergoing a visual transformation of its corporate name and logo, going by the name of HFM.

    WikiFX
    2022/6/16 3:49:25
    WIKIFX REPORT: HotForex expands services, rebrands into HFM
    Brokers HotForex Broker Reviews

    Hot Forex is a section of the HF Markets Group that caters to traders based outside of the European Union. The European division of this company is known as HF Markets. Since 2010, the organization has been a multi-national online Forex broker.

    WikiFX
    2022/6/6 6:53:37
    HotForex Broker Reviews
    Brokers WIKIFX REPORT: HotForex Granted License by the Capital Markets Authority (CMA) of Kenya

    The latest distinguished license from Kenya's Capital Markets Authority (CMA) reaffirms the HotForex brand's dedication to provide the greatest levels of security to clients all around the world.

    WikiFX
    2022/5/23 9:53:57
    WIKIFX REPORT: HotForex Granted License by the Capital Markets Authority (CMA) of Kenya
    Brokers HotForex Is Holding A Trading Contest in Ramadan With Road-to-Paris

    HotForex is offering all new and existing clients the opportunity to win a unique Paris Saint-Germain experience and fantastic prizes! HotForex login, and then enter the contest and trade as per the specified requirements to access exclusive opportunities at Parc des Princes and beyond!

    WikiFX
    2022/4/27 6:46:43
    HotForex Is Holding A Trading Contest in Ramadan With Road-to-Paris
    Brokers S&P 500 fell below 4300 on its worst day since March, and the Dow Jones plunged on risk aversion

    S&P 500 fell below 4300 on its worst day since March, and the Dow Jones plunged on risk aversion By christianborjon SP500 DowJones Nasdaq DollarIndex Commodities.

    WikiFX
    2022/4/26 10:23:15
    S&P 500 fell below 4300 on its worst day since March, and the Dow Jones plunged on risk aversion

    HotForex

    Please download WikiFX APP

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    Cyprus Securities and Exchange Commission

    Cyprus Securities and Exchange Commission (CYSEC)

    The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.

    • Licensed Institution :

      HF Markets (Europe) Ltd

      Effective Date :

      2012-11-20
    • Email Address of Licensed Institution :

      reg@hfmarkets.eu

      License Type:

      No Sharing
    • Website of Licensed Institution :

      https://www.hfaffiliates.com/eu/en/index.html,https://www.hfeu.com

      Expiry Date :

      --
    • Address of Licensed Institution :

      50, Spirou Kyprianou Str, Irida 3 Tower - 10th Floor, CY-6057 Larnaca

      Phone Number of Licensed Institution :

      357 24 400 165
    • Licensed Institution Certified Documents :

      Annex1 Annex2
    Financial Conduct Authority

    Financial Conduct Authority (FCA)

    The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. On 19 December 2012, the Financial Services Act 2012 received royal assent, and it came into force on 1 April 2013. The Act created a new regulatory framework for financial services and abolished the Financial Services Authority. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.

    • Licensed Institution :

      HF Markets (UK) Limited

      Effective Date :

      2018-11-14
    • Email Address of Licensed Institution :

      compliance@hfmarkets.co.uk

      License Type:

      No Sharing
    • Website of Licensed Institution :

      www.hfmarkets.co.uk

      Expiry Date :

      --
    • Address of Licensed Institution :

      Bloomsbury Building10 Bloomsbury WayHolbornLondonWC1A 2SLUNITED KINGDOM

      Phone Number of Licensed Institution :

      +44 2035199890
    • Licensed Institution Certified Documents :

      Annex1 Annex2
    Dubai Financial Services Authority

    Dubai Financial Services Authority (DFSA)

    The Dubai Funancial Service Authority (DFSA) isthe indepentent regulator of financial services conducted in or from the DIFC, a purpose-built financial free zone in Dubai, UAE.The DFSA’s regulatory mandate includes asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange, and an international commodities derivatives exchange. In addition to regulating financial and ancillary services, the DFSA is responsible for supervising and enforcing anti-money laundering (AML) and counter-terrorist financing (CTF) requirements applicable in the DIFC. The DFSA has also accepted a delegation of powers from the DIFC Registrar of Companies (RoC) to investigate the affairs of DIFC companies and partnerships where a material breach of DIFC Companies Law is suspected and to pursue enforcement remedies available to the Registrar.

    • Licensed Institution :

      HF Markets (DIFC) Limited

      Effective Date :

      2018-12-12
    • Email Address of Licensed Institution :

      --

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      Unit Office 612, Level 6, Index Tower, DIFC, PO Box 507274,Dubai, UAE

      Phone Number of Licensed Institution :

      971 4 318 4777
    • Licensed Institution Certified Documents :

      Annex1
    The Seychelles Financial Services Authority

    The Seychelles Financial Services Authority (FSA)

    The Seychelles Financial Services Authority(FSA) is an autonomous regulatory body responsible for the non-bank financial services in Seychelles. Established under the Financial Services Authority Act, 2013, FSA is responsible for permitting and regulating licenses, enforcing regulatory and compliance requirements, monitoring and supervizing the conduct of business in the non-bank financial services sector in Seychelles. The regulated activities include fiduciary services, capital market & collective investment schemes, insurance, gambling. FSA is also responsible for the registration of international business companies, foundations, limited partnership and international trust in Seychelles.

    • Licensed Institution :

      HF Markets (Seychelles) Ltd

      Effective Date :

      --
    • Email Address of Licensed Institution :

      aantao@hotforex.com

      License Type:

      No Sharing
    • Website of Licensed Institution :

      www.hotforex.com.sc,www.hfm.com.sc

      Expiry Date :

      --
    • Address of Licensed Institution :

      Unit C, F28, Eden Plaza, Eden Island, Seychelles

      Phone Number of Licensed Institution :

      +248 4346123
    • Licensed Institution Certified Documents :

      Annex1 Annex2
    Financial Sector  Conduct  Authority

    Financial Sector Conduct Authority (FSCA)

    The Financial Sector Conduct Authority (FSCA) is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The FSCA is responsible for market conduct regulation and supervision. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.

    • Licensed Institution :

      HF MARKETS SA (PTY) LTD

      Effective Date :

      2016-02-09
    • Email Address of Licensed Institution :

      --

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      KATHERINE & WEST, SUITE 18, SECOND FLOOR 114 WEST STREET, SANDTON 2021P

      Phone Number of Licensed Institution :

      +27 87 288 5495
    • Licensed Institution Certified Documents :

      Annex1 Annex2
    Comisión Nacional del Mercado de valores

    Comisión Nacional del Mercado de valores (CNMV)

    The National Securities Market Commission (CNMV) is the body responsible for the supervision and inspection of Spanish securities markets and the activity of all those involved in them. The CNMV was created by Securities Market Law 24/1988, which represented a thorough reform of this segment of the Spanish financial system; and since then, its regime has been updated to adapt to the evolution of financial markets and to introduce new measures to protect investors.The aim of the CNMV is to ensure the transparency of Spanish securities markets and the correct formation of prices, as well as the protection of investors.

    • Licensed Institution :

      HF MARKETS (EUROPE) LTD

      Effective Date :

      2013-04-03
    • Email Address of Licensed Institution :

      --

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      50, Spirou Kyprianou, Irida 3 Tower 10th Floor - 6057 LARNACA (CYPRUS)

      Phone Number of Licensed Institution :

      --
    • Licensed Institution Certified Documents :

      Annex1
    Federal Financial Supervisory Authority

    Federal Financial Supervisory Authority (BaFin)

    Prior to 2002, in Germany the regulation of the financial industry was undertaken by three separate agencies. In May 2002 BaFin was formed, following the passing of the Financial Services and Integration Act. The aim of the Act and the merging of the three agencies was to create one integrated financial regulator that would be able to cover all financial markets. The agencies that merged together were the Federal Banking Supervisory Office, the Federal Supervisory Office for Securities Trading, and the Federal Insurance Supervisory Office.BaFin was given further responsibility following the passing of the Banking Act in 2003 with the aim of increasing customer protection and improving the reputation of the German financial system. The extra powers included monitoring the credit-worthiness of financial institutions and collecting detailed information about them. This particular area of responsibility was shared with the Bundesbank. Currently, BaFin is experiencing a kind of transition, as the responsibility for banking supervision is being taken over by the European Central Bank.

    • Licensed Institution :

      HF Markets (Europe) Ltd

      Effective Date :

      2013-04-09
    • Email Address of Licensed Institution :

      --

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      50, Spirou Kyprianou, Irida 3 Tower-10th Floor 6057 Larnaca Zypern

      Phone Number of Licensed Institution :

      --
    • Licensed Institution Certified Documents :

      Annex1

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    WikiFX·pyramid scheme complaint
    1  Know about pyramid scheme  >
    2  Pyramid scheme complaint   >
    3  Done
    1. What is pyramid scheme complaint?
    With the continuous development of the forex market, more and more Ponzi schemes have poured in, and global investors have suffered greatly. WikiFX has set up a complaint channel in order to ensure the funds security and prevent more scams. We sincerely invite foreign exchange investors to report such fraud platforms and jointly purify the market environment!
    2. 10 Features of Pyramid Scheme
    High Profit Promised Level Marketing Required Multi-level Marketing False Advertising Master Trader Awarded 'Datuk' Brainwashing-style training Fake Regulation Copycat of other platforms Marketing & PR campaigns
    Report immediately
    Report This Platform
    HotForex
    * Contact number
    0086
    *Enter your phone number
    *Reporting Reasons

    *Enter your reason
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    Submit successfully!

    You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'

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    HotForex · Company summary

       Geneal Information & Regulation

      HotForex is a brand name of the HF Markets (Europe) Ltd., founded in 2010, a financial broker that provides both individual and institutional clients with online trading services. HotForex itself has headquartered in Cyprus but serves several global offices in Dubai, South Africa, and offshore entities in St Vincent and the Grenadines, all under respective regulation authorities. HF Markets (Europe) Ltd is regulated and licensed by the CySEC in Cryprus, with regulatory license number 183/12, its UK entity under regulation of FCA in UK (license number 801701), Dubai entity under regulation of DFSA in Dubai ( license number F004885), and Spain entity is authorized and regulated by the CNMV under the license numer 3427.

      Market Instruments

      HotForex offers popular tradable instruments of the global financial markets, including forex, precious metals, energies, indices, commodities, electronic currencies, bonds, ETFs, stocksDMA, etc.

      Minimum Deposit

      In terms of minimum deposits, there are six account options on offer on Hotforex platform,namely Micro, Premium, Zero Spread, Auto, PAMM Premium HFCOPY accounts. The minimum deposit for a Micro account is $5 (which is quite reasonable for beginners to get started), and $500 for strategy provides, $100 for followers in the HFCOPY account.

    image.png

       HotForex Leverage

      What astonishes us is that trading leverage availale on Hotforex platform is incredibly high, with the highest leverage up to 1:1000. High trading leverage may not be that cheering sometimes, for some illegal brokers will use leverage to seduce investors, and most inexperienced investors will end in loss of money.

      Spreads & Commissions

      The minimum spread for Mini accounts starts from 1 pip, and no commission is charged for trading. For Premium accounts, the minimum spread starts from 1 pip, and no commission is charged for trading. For Zero Spread accounts, the commission is $6 per lot (round turn). For Auto accounts, the minimum spread starts from 1 pip, and no commission is charged for trading. For PAMM accounts, the minimum spread for high users starts from 1.1 pips, and no commission is charged, and the minimum spread for high plus users starting at 0.3, a fee of US$6 per lot (round turn) charged. A comparison of HotFX spreads with other traders is shown in the chart below.

      Trading Platforms

      HotForex offers traders MT4, MT5, and a multi-account management system. Both MT4 and MT5 are popular and powerful trading platforms that also provide a bridge for traders to enter the financial markets, and HotFX ensures that the best features of each platform are fully utilized to provide the perfect trading environment for its clients. Both trading platforms are available in desktop, web, and mobile versions. The HotForex's multi-account management system offers many advantages, including an unlimited number of trading accounts, real-time quote monitoring, real-time trading operation management, and multiple order execution types.

      Deposit & Withdrawal

      Deposit and withdrawal methods welcome wire transfer (minimum deposit of $100, 2 business days to arrive, and banks may charge a transfer fee of under $100), Visa, MasterCard credit/debit cards (minimum deposit of $5, the maximum deposit of $100,000, 10 minutes to the account, no fees for withdrawal and deposit), FasaPay (maximum deposit of $5,000, the minimum deposit of $5, no fees for withdrawal or deposit). The minimum deposit is US$5,000, the minimum deposit is US$5, instant arrival, and there is no fee for withdrawal or deposit), NETELLER (the maximum deposit is US$50,000, the minimum deposit is US$5 and there is no fee), Skrill (the maximum deposit is US$10,000, the minimum deposit US$10, no fee for withdrawal or deposit), WebMoney (the maximum deposit is US$50,000, the minimum deposit is US$5, no fee for withdrawal or deposit).

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.