HatFX review exposes HatFX scam, a deceptive broker masquerading as a regulated entity. Despite its enticing claims to offer trading in forex, indexes, commodities, stocks, and cryptocurrencies on the MetaTrader5 platform, hatfx.com is revealed to be a fraudulent operation. It is strongly advised not to invest any funds with this broker, as it has been exposed as a scam. Explore the details in this HatFX review for a comprehensive overview of the situation.
Website – http://hatfx.com/
Address – One Canada Square, Canary Wharf, London, E14 5AB, United Kingdom
Regulation – Blacklisted, Scam
Warning – International Financial Services Commission (Belize)
Domain Age –
|Date Registered||August 28, 2009|
|Domain Age||14 years, 2 months, 25 days, 3 hours, 49 minutes, 26 seconds|
HatFX Review: About HatFX
HatFX is based in the United Kingdom and presents itself as a forex broker providing clients with a range of trading instruments. However, the undisclosed company information raises suspicion, as the absence of crucial details adds an element of uncertainty to this broker’s legitimacy.
HatFx purports to be a “superlative and incomparable online trading platform.” However, it is crucial to recognize that this website stands far from legitimate brokers, operating as a glaring scam. Filled with deceptive information, hatfx.com creates trading conditions that are deliberately structured to prevent the recovery of funds once they have been mistakenly entrusted to this platform.
HatFX Review: HatFX Regulatory Status
The HatFx website conspicuously lacks information about the legal entity governing the site and the regulatory framework overseeing its operations. Although the provided contact address situates the company in the prominent financial hub of London, the name of the company, Hat Global Limited, is only disclosed in fine print at the bottom of the site.
It claims to be licensed by the International Financial Services Commission (IFSC) of Belize. Contrary to its false regulatory assertions, Hatfx.com is not regulated, and it has already received a warning from the International Financial Services Commission of Belize (IFSC).
Dubious Trading Platform
The brokerage asserts its provision of trading services on the acclaimed MetaTrader5 (MT5), but our attempts to verify this information proved inconclusive. Notably, there is no downloadable version accessible on the website, and attempts to register an account encountered difficulties. Additionally, the download links on the website exclusively direct users to the mobile app pages for Android and iOS, further casting doubt on the claimed access to MetaTrader5.
Efforts to confirm if HartFX provides login details for platforms after account registration were hindered by the requirement to use a genuine phone number. Entrusting such sensitive information to transparent scammers is strongly discouraged.
Leverages and Spreads
The broker claims to provide a substantial leverage of up to 1:200, which is commendable. However, opting for a reputable broker might be a more prudent choice, considering that many legitimate ones set a minimum deposit requirement of $100 or even less.
Notably, HatFX’s website lacks clarity on the spread they offer to traders. Instead, there is a significant emphasis on bonuses and promotions. This focus on bonuses raises concerns about HatFX’s legitimacy, as major regulatory bodies prohibit brokers from enticing customers with such incentives.
The mentioned bonuses are strategically employed as a trap for traders, as evident in the wording of the Terms and Conditions. The clauses are crafted to create insurmountable obstacles for any endeavor to withdraw funds or purported profits from HatFX.
According to the HatFX website, cryptocurrencies serve as the means for both deposit and withdrawal. Cryptocurrencies are favored by fraudsters due to their non-refundable nature, making transactions with them particularly susceptible to misuse.
If you’ve been targeted by a HatFX scam, there’s no need to lose hope. Reach out to our fund recovery services for a free consultation. Our skilled team is committed to aiding victims in understanding the intricacies of financial fraud, offering assistance and direction during the recovery journey.
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