HotMarkets has been flagged by Commissione Nazionale per le Società e la Borsa for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Where do I even begin with HotMarkets? for the past six months of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Fast deposits|Two-factor authentication
Cons: Help articles are sometimes vague|Limited ETF selection
After using HotMarkets for the past year and a half, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Dividend tracking|Market news feed
Cons: Minor UI glitches occasionally|Withdrawal takes 1-2 business days
The only good thing about HotMarkets is that they remind you why regulation matters. I found them through a forum discussion. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Market news feed|Two-factor authentication|Segregated accounts
Cons: Limited social trading features
HotMarkets locked my account without warning and demanded documents I had already submitted. since I opened my account last year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Portfolio tracking tools|Professional team|No hidden fees
Cons: Limited cryptocurrency options|Limited ETF selection
I had a dispute with HotMarkets and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Easy to use platform|Multi-device support|Quick verification|High security standards
Cons: Inactivity fee applies after 12 months|Minor UI glitches occasionally
I found HotMarkets after hearing about them at a conference and the initial impression was positive. But for about three months later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Social trading features|Quick verification|Stable platform|Low minimum deposit
Cons: Research section could be deeper|Live chat only during business hours
I signed up with HotMarkets after hearing about them at a conference and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Regular updates|High security standards|Economic calendar
Cons: No crypto staking
After since last summer with HotMarkets I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Customizable dashboard|Quick verification
Cons: Inactivity fee applies after 12 months|No integrated tax optimization
HotMarkets has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Smooth onboarding|Segregated accounts|Customizable dashboard
Cons: Search feature is basic|No crypto staking
I want to warn everyone about HotMarkets. They have been flagged by Commissione Nazionale per le Società e la Borsa as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Cons: No regulatory oversight|Money disappeared|Fake testimonials