Hota Crypto review – The safety of your funds is questionable

The broker poorly designed website doesn’t discover much about them. With their website registration in 2023, they don’t provide much credibility. Especially after analyzing what are they offering. Above all, Hota Crypto broker doesn’t offer reliable trading software.

The broker promotes itself as an award-winning broker for many years. However, such information is not available anywhere. Yet, many more discrepancies you can find throughout this Hota Crypto review.

Is Hota Crypto a Regulated and Licensed Broker?

Hota Crypto broker is a completely unregulated entity. Firstly, they don’t reveal on their website headquarters country. Hota Crypto LTD is the official owner. Most likely some offshore country, but it’s not confirmed. Therefore, we are checking only Tier 1 regulators as the most reliable ones. Some of those are BaFin, ASIC and FCA.

But none of them ever issued a license to this company. So, all statements made by this broker become immediately questionable. Especially security measures if they had any. Important to realize is that this broker doesn’t have any Terms and Conditions available on the website. Not to mention the withdrawal policy that is crucial in the trading business.

Hota Crypto Platforms – A Software Comparison

The first thing after regulation that traders check is trading software. With Hota Crypto, you can only use a web-based one. This software doesn’t have advanced features like the ones that Meta Trader has. Additionally, the company has suspicious navigation through the website. Whereas if you want to download the software, you must register on the platform first.

Moreover, once you try to open a store to download mobile app you are redirected to TextTrade. This is an untrusted app with only 1K+ downloads. Instead, you can find a Tier 1 licensed broker and forget about worries.

         What Financial Instruments Does The Platform Include?

Trading instruments coverage is quite solid with Hota Crypto broker. Thus, information about those instruments could be manipulated by the broker.

It’s not rare that scam brokers like this one use that to present fictive market crashes. In fact, this is a tactic to extract more money from traders. Anyway, traders can trade with:

• Forex                        USD/GBP, GBP/JPY, EUR/SEK
• Commodities            Gold, platinum, palladium
• Indices                      S&P 500, CAC 40, Dow Jones
• Shares                      Deutsche Bank, Bank of America, Goldman Sachs
• Cryptocurrencies       BTC, ADA, LTC

Volatile assets like cryptos and leverage of 1:500 are the perfect recipe for a disaster. Especially with the untrusted platform and broker that doesn’t have credibility. Not to mention missing guaranteed stop-loss. But also negative balance protection.

Hota Crypto Countries Of Service

There are not many Hota Crypto customer experience reviews. But from those available you can realize their goals.

But even more importantly countries where they operate. Traders they are scamming are mainly coming from:

• Switzerland
• Italy

Thus, they don’t have a CONSOB or FINMA license.

Account Options Offered by Hota Crypto

Surprisingly, Hota Crypto broker doesn’t have a standard account-type offer. What account types offer broker uses to scam traders find in our YellowStoneFX and Primefin review. Their minimum deposit requirement is $0. Additionally, all traders get the same trading conditions.

So, they don’t have anything to attract traders to deposit more money. Especially considering the numerous misleading facts presented on their website.

         Can a Trader Use a Demo Account?

On the positive side, the broker advertises a demo account. Allegedly you don’t need to deposit money to try the platform. Indeed, once you check in for a demo, you get 100.000 units on the balance.

To be honest, the platform is not user-friendly. It has a very scrappy design with limited functions. There’s no experienced trader that would find it suitable.

Terms of Service for Hota Crypto

Important to realize is that Hota Crypto doesn’t share any legal documents. Therefore, you can’t find any more details about conditions. After all, even funding methods are unclear with this broker. They advertise some on their website, but only through payment provider icons. But what’s the real deal remains unknown.

Anyway, the possible funding options are:

• Visa/Master card
• Skrill
• Neteller
• UnionPay
• FasaPay
• WebMoney
• Wire transfer

Sadly, no withdrawal policy is available. So, processing time and fees remain a mystery here. But don’t be surprised if the broker makes up non-existent fees after your withdrawal request.

         Leverage, Spreads and Fees

The already mentioned leverage of 1:500 violates all rules and regulations. Especially European ones. Such leverage can easily wipe your account balance off. Therefore, you must be extremely careful with whom you accept such conditions.

On top of that, this broker has spreads starting from 0.0 pips. But we wouldn’t test it since they are not a reliable broker. Lastly, we are coming to the costs of trading with this broker. Generally speaking, legitimate brokers make money with fees and spreads. Thus, this one doesn’t reveal any. But if the broker is hiding such a thing, you can expect the unexpected.

What Should I Do If I Have Hota Crypto Problem?

The broker doesn’t have a regulatory body where you can file a complaint. That’s why our specialized fund recovery team is available for any advice on further steps.

Firstly, you should share your experience with this broker. This way you can prevent other traders getting into the hands of this bogus scammer. Secondly, you can file a chargeback if you were using a card to complete payment. We have solutions even for other payment methods. Don’t waste time. Don’t let this illicit broker get out with your hard-earned money. Book your first free consultation now!