HatFX withdrawal issues http://www.hatfx.com/

By Mohammed Haseeb, from United Kingdom, October 31, 2021 at 01:58 PM

Please conform about Traders our money is struck in this platform Kindly guide us for further assistance Thanks and Regards 

  • HatFX Withdrawal Issues
Answer: Hi Mohammed Haseeb,

According to broker’s website, HatFX is located in the United Kingdom, but at the same time holds an offshore license by the International Financial Services Commission in Belize. In order to be able to offer its financial services to the UK residents, the broker needs to be licensed by the UK’s regulator FCA or any reputable EU regulator. In case with HatFX, we could not find any information about broker’s license with any EU regulator.

In addition, Belize is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as HatFX. We have a detailed article explaining the risk of trading with brokers from Belize.

Unfortunately, there is a small chance of getting your money back from an offshore broker. You need to report about this issue to your local regulator, in your case it is the Financial Conduct Authority.

 

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