is hotforex legit/regulated

Is hotforex legit/regulated

https://www.hotforex.com

HotForex, presently known as HFM, is a globally licensed broker that operates under the strict supervision of multiple regulatory bodies. These include:

1. The Cyprus Securities and Exchange Commission (CySEC), with license number 183/12.

2. The Financial Conduct Authority (FCA), with license number 801701.

3. The Mauritius Financial Services Commission (Mauritius FSC), with license number C110008214.

4. The Seychelles Financial Services Authority (Seychelles FSA), with license number SD015.

5. The Dubai Financial Services Authority (DFSA), with license number F004885.

6. The Financial Sector Conduct Authority (FSCA), with license number 46632.

7. The Kenya Capital Markets Authority (CMA), with license number 155.

These regulatory authorities enforce legal compliance to safeguard investor interests. For example, UK-based accounts are required to maintain segregated client accounts and offer negative balance protection as standard measures. 

It's important to note that the specific regulatory authority overseeing your account may vary based on your geographical location.

However, it is critical to note that the Malaysia Securities Commission (SC) has added HotForex to its Investor Alert List for carrying out unlicensed activities. If a broker receives a warning from a financial regulatory body, it is advisable for investors to reconsider its credibility due to the risks involved.