Security of Funds
Here at HotForex we understand that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds. We have therefore taken extraordinary measures in order to ensure a very high level of fund safety.
These measures are usually enjoyed by institutional traders but we are happy to offer them to our retail clients. We strongly believe that our efforts will have a direct, positive impact on them and their account profitability since higher focus translates to higher profitability in the world of financial trading.
All Segregated Client accounts are independently administered by NinetyEast Fund Services Limited.
NinetyEast Fund Services Limited is a professional, third party fund administrator. They currently oversee over 1 billion USD from offices located around the world. They have an excellent track record in safekeeping and fund administration services, which makes them the perfect choice for the fund safety of our clients. For more information on NinetyEast Fund Services Limited you can also go here.
We have therefore selected them to independently administer our client funds and also act as joint signatories for all funds leaving any client's accounts. In other words, all funds leaving a client's account have to be approved by them first. We have absorbed the cost of this service in order to ensure peace of mind for our clients.
Following our policy of complete transparency, we provide you with a detailed explanation of how the process works. After a client submits a withdrawal request, HotForex processes the request which is then sent for completion and verification to NinetyEast Financial. Along with the funds transfer request, HotForex submits all the KYC (Know Your Client) documents and the trading reports of the client to NinetyEast for clearance and approval prior to remittance. This ensures that when funds are removed from a client's account, they are removed solely for the purpose of sending them back to the client.
We feel that the above process adds a significant layer of safety for our clients' funds allowing them to concentrate in what they do best, Forex Trading.
The company maintains both operational and client bank accounts with reputable banking institutions such as Barclays and the State Bank of Mauritius.
Supervision by the Regulator
Regulated firms are obliged to meet strict financial standards and as such are required to submit annual audits performed by an independent external auditor.
The Company continually identifies, assesses, monitors and controls each type of risk associated with its operations. This means assessing on a continuous basis the effectiveness of the policies, arrangements and procedures in place which allow the company to easily be able to cover its financial needs and capital requirement at any time.