Hey guys! My name is Nick and I work for USG. Are there any IBs here looking to try out a new broker or or switching to one completely? Or if you're just a trader that would like to try us out, I would be glad to provide more information for you. Thanks!
https://register.fca.org.uk/ShPo_FirmDetailsPage?id=0010X0000482gD2QAI
It looks like Hotforex is under protection of Financial Services Compensation Scheme (FSCS). Your money is safe. When choosing a broker it is important to see if they have licenses from either the FCA or ASIC.
If you pick well-known brokers with proper licenses, your money would most likely be insured by a third party. Since the brokers do not have access to your funds, which is why you need to be mindful when picking brokers. Feel free to PM me if you would like to know more. :)
Best way to avoid running to fake brokers is by checking their licenses(ie, FCA and ASIC), you shouldn't run into any issues if their license is still valid. Feel free to PM me if you would like to know more. :)