Only a week ago we have been informed that HotForex has acquired a license to operate in the UAE and now the broker has revealed that it has got the esteemed Financial Conduct Authority (FCA) license.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
HotForex is a brand name of the HF Markets (Europe) Ltd. that is authorised and regulated by the CySEC, BaFin Germany, CONSOB Italy, CNMV Spain, FSA Denmark, and more. The name of the HotForex subsidiary in the UK is now HF Markets (UK) Ltd. We have checked the regulator’s register and it shows that HF Markets (UK) Limited, a British subsidiary of the HF Markets Group, as authorised under firm reference number 801701. It also states that “The Financial Ombudsman Service may be able to consider a dispute with this firm. The Financial Services Compensation Scheme (FSCS) may be able to compensate customers if this firm fails.” According to the website, the status effective date was from the 14th of November 2018. You can read our full HotForex review here.
It is a very important move for the HF Markets brokerage group, known by the trading names HF Markets and HotForex. An FCA license means recognition of legitimacy in the UK financial markets and also provides clients with a further guarantee that they’ll be receiving a fair and safe service.