Looking to read Hotcapital Stox review? Is Hotcapitalstox.com a scam? Read honest review to know about this forex broker whether to trading or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Hotcapital Stox
Hotcapital Stox also known as Hotcapitalstox.com is an offshore brokerage owned and operated by Hotcapital Stox Group Limited with a lot of promises for forex traders. The forex company is based in London EC2N 1AR,
United Kingdom.
The broker offers different account packages such as
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Withdrawal process:
Hotcapital Stox FX leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Hotcapital Stox Minimum Deposit:
Hotcapital Stox deposit is indicated as $200 based on the account type. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, the broker offers Bitcoin through coindeck.com.
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Hotcapital Stox Platform:
Hotcapital Stox claims to use the industry standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platform. But after registering an account, we only get access to a web-based platform that has significantly more limited functionality than MetaTrader. It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Hotcapital Stox leverage can get up to 1:500. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
What We Discovered about Hotcapitalstox.com Regulation
First of, Hotcapitalstox.com is based in London. A forex broker in this jurisdiction must have the appropriate licences from the Financial Conduct Authority (FCA). But Hotcapital Stox cannot be found among the companies authorized by the regulator.
Again, Hotcapital Stox also claims to be authorized to operate in the European Union by an institution named European Security Exchange Brokerage. Regrettably, Hotcapital Stox’ terms and conditions do not mention a company name or specify an applicable jurisdiction. The document is too brief and does not at all meet the requirements for this type of legal documentation.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Hotcapital Stox Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Bottom Line:
Hotcapital Stox located at Hotcapitalstox.com claims to appear like a trustworthy trading broker, however, that cannot be trusted. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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