CySEC regulated Forex brokers are ceasing to offer all bonus promotions.
Do you live in South Africa? Then please go to HotForex ZA (South Africa) main introduction page.
HotForex(HF Markets (Europe) Ltd) has announced that the broker has made changes to several Terms & Conditions due to the recent regulatory announcements by CySEC(Cyprus Securities and Exchange Commission) and the ESMA(European Securities and Markets Authority).
The changes will take effect on your trading activities from January 29th.
We have summarized some of the important changes, please read the followings carefully.
Default Leverage to 1:50
All new trading accounts opened after January 29th, will have maximum leverage set to 1:50.
Higher leverage up to 1:1,000 is available to clients who have passed certain “Appropriateness Test” given by HotForex.
If you fail the test, you are allowed to use leverage up to 1:50 only.
Termination of Bonus Promotions
As of January 28th, HotForex will cease offering all bonus promotions.
Several Revisions of Policies
HotForex has made several changes to some policies, which includes “Order Execution Policy”, “Account Opening Agreement” and others.
You can find the full list of latest HotForex’s legal policies in the official website.
The official announcement of this changes can be found in the below PDF.
For more information regarding to this change, please contact HotForex 24/5 support team.