There’s a lot to talk about with this company, from its parent company’s regulatory warning to the firm’s attempt to replicate a legitimate corporation to HotTrades’ awful trading conditions. You’ll learn everything you need to know about HotTrades in our honest and thorough review.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | hottrades.co.uk |
| Blacklisted as a Scam by: | CMVM |
| Owned by: | Trinity Capital LLC |
| Headquarters Country: | N/A |
| Foundation year: | N/A |
| Supported Platforms: | MetaTrader 4 |
| Minimum Deposit: | $1000 |
| Cryptocurrencies: | Not Available |
| Types of Assets: | Stocks, Commodities, Indices, Bonds, Metals |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | Available |
| Accepts US clients: | Yes |
What About HotTrades Regulation?
Because HotTrades’s parent firm is located in St. Vincent and the Grenadines, the company is not subject to any regulations. It is no surprise that Trinity Capital has turned to scams since the markets in St. Vincent are unregulated. As a result, any company operating from there that is not subject to further regulation should be avoided.
Why Is It Important For A Broker To Be Licensed?
A Tier 1 license indicates that the broker follows all regulatory requirements and is protected from client losses. We looked in the FCA (Financial Conduct Authority), ASIC, and BaFin databases to see if HotTrades was regulated, but we couldn’t find it. As a result, HotTrades should be avoided because they are not licensed.
Also, we want to invite you to read our recently updated reviews of fraudulent brokers Win ICoin, CoinEvo and Crypt Node. Be careful with these brokers.
HotTrades Warnings From Financial Regulators
HotTrades is controlled by a parent business called Trinity Capital LLC, and we discovered throughout our investigation that the parent company has been issued another warning by the Portuguese regulatory authority, the CMVM.
The fact that HotTrades is owned by Trinity Capital is quite troubling since it implies that the broker is nothing more than a rebranded version of an old fraud! At all costs, stay away from it!
Traders’ Reviews About HotTrades
HotTrades’ clients have been complaining and expressing their discontent with the trading broker. According to some clients’ feedback, HotTrades appears to be a shady broker. As a result, the utmost caution should be exercised before investing through their platform.
What Platforms Does HotTrades Offer? – Available Trade Software
It may come as a surprise to learn that this broker offers access to one of the greatest and most functional trading platforms available – the iconic MetaTrader 4.
HotTrades Provides MetaTrader 4 Platform – Trade On Mobile And Desktop
But this fact is not enough reason to trust HotTrades. We strongly suggest you check out this fantastic trading software – but only with a reputable and regulated broker.
All About HotTrades Accounts
The broker offers three types of trading accounts:
- Silver – $1,000
- VIP – $10,000
- Platinum – $25,000
In the meantime, avoid scammers like Fusionfx24, TradingBloom and Tradiso. If possible, tell us about your scam experience.
Demo Account – No Access To Trading Functions
While a Demo account is being offered by the broker, you are unable to use it. You will be forwarded to the live trading account registration page, making trading functions unavailable to anybody.
HotTrades Broker – Countries Of Service
We may deduce from the vast majority of complaints that the company primarily targets the following countries:
- US
- Canada
- UK
- Vietnam
- Portugal
HotTrades Range of Trading Instruments & Markets
These are the trading instruments available through HotTrades:
- Stocks
- Commodities
- Indices
- Bonds
- Metals
Minimum Deposit
The minimum deposit required is far too high, which is $1,000. There are legitimate brokers that require only a $1 deposit.
HotTrades Leverage
In most jurisdictions, regulatory authorities have capped retail traders’ leverage, but HotTrades is offering leverage as high as 1:500, indicating that its goal is to attract more victims.
Scam Bonus Policy
When you look at HotTrades’ services, you’ll notice that they provide trading bonuses to their customers. Offering these bonuses has been illegal in a lot of jurisdictions, therefore this should be taken as a red flag.
HotTrades Trading Conditions
The spreads on the broker’s MT4 were 2.4 pips on the EURUSD pair, which was far from spectacular. Most trustworthy brokers strive for spreads of 1.5 pips or less. Trading with HotTrades’ spreads would almost certainly not be profitable for you.
HotTrades Deposit, Withdrawal Methods and Fees
The platform offers a variety of payment options. But keep in mind that no one has been able to withdraw their funds.
Payment Method Of Legitimate Brokers
Legitimate brokers accept a variety of payment methods, including debit and credit cards, as well as wire transfers with no restrictions on withdrawals. Some reliable brokers allow you to withdraw your profit practically instantaneously.
Scammed by Invest HotTrades Broker? – Let Us Hear Your Story
Let us know if you were fooled by a phony firm or a HotTrades broker. Our chargeback experts will examine your situation and advise you on the best method for recovering your payments during a free consultation.
But What Is A Chargeback?
A chargeback is a method of reversing transactions in the event of fraud. If you call us soon away to schedule a free consultation, our specialists may be able to assist you in recovering your funds. Right now, we can help you.