Hotfinance Consult: reviews of trading opportunities. Trust the company or is it a scam?
When choosing a financial partner for trading on financial markets, most traders stop at companies that have already earned the trust of the investment community and have received a lot of positive reviews. As experts, we fully agree with this approach. However, even among market newcomers, there are knowledgeable brokers who offer favorable cooperation conditions. We will talk about one of them in our material. This is Hotfinance Consult. Let’s see what the organization represents and what real evaluation it deserves.
What information have we learned about the company Hotfinance?
“Trade on the side of the winner,” is how Hotfinance Consult’s website greets potential clients. But is it really so? The broker’s website is fresh, as indicated by the domain registration date verification results – it was registered in September of last year (updated in October 2021).
The platform itself stands out with a concise interface and high-quality informational content. Thanks to the presence of a Russian-language version, it is easy to understand all the nuances without unnecessary difficulties. The conditions are detailed, specifying the size of leverage, spreads, and other aspects that interest investors.
According to the legend, Hotfinance Consult is a well-known holding company open for cooperation with both professionals and beginners. The trading agent promises a variety of tools, quality customer service, and modern trading software for comfortable earnings on financial markets.
Insiders have informed us that the organization is actively expanding its geography and has recently started working with domestic traders. This explains why it has a relatively new domain and no reviews in the Russian segment of the internet.
There is no information about the management team on the platform. The broker also does not disclose the location of its headquarters. From the contact information, only a feedback form and email are available. The company has not yet established its own call center.
Legal aspects
The platform has a full range of internal documentation detailing the rights and obligations of the parties. Broker Hotfinance Consult offers everyone to familiarize themselves with the terms to avoid conflicts during work:
- Disclosure of additional risks,
- Bonus agreement,
- Prevention of money laundering,
- Deposit declaration,
- Risk disclosure, etc.
As for Russian traders, for now, they will have to work with the company on a trust basis. At the moment, the intermediary has not yet obtained permission from the country’s main regulator. Hotfinance Consult is not listed in the Central Bank of Russia registry.
However, based on the experience of previous reviews, we can say that the document verification procedure is not quick. It takes from several months to a year. If Hotfinance has recently started operating in the Russian market, it simply has not had time to pass the check by the Central Bank of Russia.
Nevertheless, it has all the chances to obtain permission from the main supervisory authority of the Russian Federation, as the Hotf1nance website is not considered fraudulent by Roskomnadzor.
What is offered on the platform?
For trading, the broker offers a wide range of instruments, including Forex currencies (even exotic ones), stocks, energy resources, stock indices, and precious metals. The intermediary uses MT4 as trading software (desktop, browser, mobile versions). Traders are promised the best prices, low-latency connections, and modern technological solutions.
There is no demo account on the platform; you will have to invest real money right away. Among the features of the accounts, we can note:
- Minimum entry threshold – $250,
- Leverage – from 1:100 to 1:300,
- Spreads – from 0.1 points,
- Account manager assistance,
- Access to webinars, signals, etc., in some account types.
There are no reviews regarding payment discipline, but Hotfinance Consult promises not to charge fees for depositing and withdrawing profits. Additionally, the financial agent offers passive income opportunities to all interested parties. You can join the partner network and earn by attracting newcomers. Rewards are paid every 2 weeks.
What are the reviews about Hotfinance Consult?
At the time of writing, there are no reviews about the intermediary. However, the situation can change at any moment. The organization actively attracts new clients and expands its service geography. If you have already cooperated with them and can share your own experience, leave a review below our article.
What did the independent review show?
Hotfinance Consult has yet to earn the trust of Russian traders. The organization has recently started operating in our market, and there are no reviews about it. As for trading opportunities, they are quite attractive. The organization can be considered as a financial partner. However, before making a final decision on cooperation, weigh all the pros and cons once again.
I am thoroughly dissatisfied with the broker’s work as Hotfinance Consult’s trading opportunities have been largely disappointing and their trustworthiness is questionable.