I have been testing HOTFOREX.COM with my live account with an initial deposit of 120usd, withdrawn 50usd and lost 45usd so far. I started two weeks ago and they are my very first broker. I noticed Spread is from 2.5 to 3.5 pips on deposit less than 500usd. I wish to fund my account with 500 or 1000$ which attracts one of the lowest spread online.
Though I have not had any bad experience with this broker but am sure if their REGULATION and SEGREGATED ACCOUNT is genuine. Please how can I find this out?
hmm, I do not know if this would help, I also trade with hotforex and have no problems, their accounts are segregated with barcleys uk (but Im not sure, more like i do not remember)? they are regulated in Mauritius, somewhere in south Africa, I’ve read something about it in forexpeacearmy. but with regards to my EXP with them, no issue… and best of luck mate.
and just like what the guys said, you can always contact their support, they are active
Hotforex is my current broker and it’s the longest one, I have the same doubts as you have in the beginning. Don’t worry too much. Choice of broker is your first step. More important is the experience and knowledge in the forex market, you can start from small amount. good luck!
I had doubts about their regulation and sent an email to the regulator in Mauritius. It took them 3 weeks to reply to me that the company that stands behind hotforex is regulated by them. Now I see that they are listed as a member of GBOT right next to other Forex brokers and that keeps me save. As of the segregated accounts they have a statement on their website which shows this information from the audit.
