TheHotFX Review: Thehotfx.com a Shameless Broker

TheHotFX Review
  • Customer Support and Contact Details Feature Score
  • Fund Safety
  • Regulation and Registration
0.5

Summary

TheHotFX lacks transparency. You are better off without this shady platform. The terms and conditions of the entity can change overnight without consulting the traders.

TheHotFX is a platform that fakes its address. They choose one of the reputable countries in the market with stringent rules. If you are wondering if the scheme is operating we hate to break it up to you that this is a scam. No regulatory body in the market would license the shady services of the firm.

The trading conditions of the firm are unknown. The scheme avails a basic trading platform for investors. Their trading conditions are also pathetic. You do not need any specific skills to know the broker is a scam. If you cannot trust them with the minor details who knows what the firm is also hiding?

TheHotFX Review, TheHotFX Company

The broker avails four trading accounts. TheHotFX is also offering bonuses to investors. The lucrative opportunities are banned by the regulatory bodies. The money legally belongs to the investment firms. Therefore, they can choose not to handle the withdrawal request. There are hidden terms that one must meet for them to be able to cash out. Make sure that you read the terms and conditions in detail to avoid any surprises.

Instead of risking the safety of your money, we recommend that you stick to some of the best reputable forex trading companies in the market. These are schemes that have been in the industry for years. Their performance is verified.

Thehotfx.com Review

TheHotFX allegedly is one of the best forex trading companies in the market. If you are interested in their services you need to register by disclosing your full name and leaving your phone number behind. We do not recommend sharing such information. The con artists have tactical sales reps. They are extremely persuasive and play mind games with their victims.

Nonetheless, the broker claims it has a powerful trading platform. They build the confidence of their clients. The company state it wants to help investors earn high returns. The firm features statistics that appear to be fabricated. The clients that are allegedly satisfied are numerous. The venture also brags ts signals are effective with high accuracy of 76%. Sadly, none of the above statements can be verified.

TheHotFX claims it has gained its popularity due to its superior educational resources. They also utilize the latest technology in the market. Their sole purpose is to grant clients long-term trading experience. The available assets are; forex and indices. The broker claims it has the best security. They care about the safety of clients’ funds, and data.

However, the offshore scheme can go the extra mile of selling your information to third parties. Moreover, the venture is not working with a reputable financial institution. Therefore, they only want you to believe you can rely on them. If possible avoid the entity and report them to the authority if they cold call you.

Trading Conditions of TheHotFX

TheHotFX state it works with personal bookkeepers and accountants. Their only goal is to help traders attain financial freedom. As stated earlier we cannot validate there are experts in play. They have a demo account that investors can use to familiarize themselves with trading. You can open a live account when you are ready.

The minimum amount that you can trade is 500 EUR. The perks of the silver account are all trading tools are available, video tutorial, daily recommendation, 24 hours support, and exclusive update. The entity has a spread of 3 pips. The limit is too wide investors are not going to make much from it as the opening price is high.

The available leverage is that of 1:200. This is something that is beyond the approved limit. Additionally, the possibility of losing funds is huge. We recommend that you refrain from doing business with the broker.

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Withdrawal and Deposits

The payment methods that are available are; Visa, PayPal, Skrill, Neteller, and e-wallets. It appears that this is not what the scheme is taking. They list options like wire transfers, CashU, and online payment.  The entity is taking $36 every month as ta. It does not matter whether you trade or not. Moreover, the broker is also taking a $15 charge per transaction that you make.

Thehotfx.com Review, Thehotfx.com Features

Accepting a bonus of $50 then you must trade at least $500000 to be eligible for the withdrawal.  list different volumes of $20,000 In another section. We do not know what to expect from them. To be on the safe side we recommend that you trade wisely. and avoid doing business with Ponzi schemes.

Contact Details and Customer Support

The company state it has offices in NY, USA. The support is available via email and phone. It is unprofessional to lie to investors about your whereabouts. They are trusting you with their personal data, and money yet you cannot be trusted with the obvious. instead of wasting money and time with an offshore scheme that is operating Marshall Island, there are way better trustworthy firms.

You can be certain that the venture will not concern itself with answering investors’ queries. They will leave you high and dry and can do whatever they please. Ponzi schemes will never concern themselves will providing professional services to their clients.

It is only the leading forex trading ventures that have a license that will provide traders with ethical services. The best support will help you earn real-time profits. Watch out for red flags that are so obvious.

Regulation Status of TheHotFX

If TheHotFX was a genuine platform it would have deposited a capital of $20 million as per the financial body of the USA requirement. However, you will be expecting more considering that the ventures have nothing to offer. The entity does not fall under any regulatory body. The approved leverage in the US is 1:50.

Moreover, the entity has chosen to remain anonymous. The law requires that the people behind the financial bodies disclose their qualifications. You stand a chance of enjoying better trading conditions if you choose a reputable licensed broker. Moreover, you can also be compensated in times of bankruptcy.

A legit entity works with reputable financial institutions. This helps in ensuring the withdrawal process is handled swiftly. It is also hard for firms that are working with top tier 1 banks to engage in fraudulent activities. They must also report their daily trading activities to allow the financial bodies to know what is happening. In case of price manipulation, the license is revoked. Of course, a company that is legit cannot risk it.

TheHotFX lacks transparency. You are better off without this shady platform. The terms and conditions of the entity can change overnight without consulting the traders.

The Domain Insight

It appears TheHotFX made its first digital footprint in August 2021. They target being in the market for a period of one year. There are no trading activities that are happening behind the closed door. The safety of your money is a major concern. The traffic that is visiting the scheme is also insufficient. Additionally, the entity has a low trust score.

Final Verdict

Why would you trade with a venture that is faking even the minor details? This is a scheme that is not regulated. They are using the funds of traders as they please apart from trading. Signing up in this venture opens you to multiple risks.

Invest wisely by trading with some of the best forex trading schemes in the market. These are genuine and legit platforms. They are being run by professionals. You have an assurance that all is taken care of with them.

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