HOTBIT Review 2023 – Get Help if you are a victim of HOTBIT Scam
Website – https://www.hotbit.io/
Address – NA
Warned By – Comisión Nacional del Mercado de Valores (Spain)
The main reason why HOTBIT is a possible scam broker is that the broker has got many Complaints and negative HOTBIT reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.
The HOTBIT website appears legitimate at first look, but closer study shows a major red flag. It is unknown who is behind the HOTBIT. Neither website nor the Terms and Conditions refer to a specific legal organization by name. This is simply unacceptable for any reputable firm, let alone one that provides financial services.
As a result, whoever owns the HOTBIT is not licensed as a broker, and their actions are not regulated. You should only trust respectable brokers from in well-established financial centres such as the United Kingdom, the European Union, the United States, or Australia.
Brokers’ actions are regulated by major regulatory authorities such as the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), the Commodity Futures Trading Commission (CFTC) in the United States, and the Australian Securities and Exchange Commission (ASIC).
We also reviewed comparative-looking broker sites in our scam brokers 2023 list, the vast majority of them are unlicensed and obscure.
HOTBIT possible scam activities
It can be challenging to identify trading scams, such as Forex, Binary Options, and Cryptocurrency. However, there are some indicators to look out for.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this HOTBIT review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
HOTBIT Review: Complaints and Negative Feedback
HOTBIT has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative HOTBIT Review
After Searching internet you will find many negative HOTBIT Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and HOTBIT reviews are negative.
Scammed by HOTBIT? How to get your lost money back from HOTBIT?
The best solution recommended for getting your lost money back from HOTBIT is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
HOTBIT Review: Conclusion
To begin with, HOTBIT is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold all valid licenses and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging HOTBIT as a possible scam in this HOTBIT Review. Are you planning to trade with HOTBIT and invest your money? Report Scam suggests you to read this HOTBIT Review first.Report Scam! as we have experience!