HOTBIT Review – Is HOTBIT a scam or a trustworthy broker?
A decision to invest in a trustworthy company is critical for any type of trader, whether rookie or experienced. The Internet growth has given birth to a plethora of opportunities. Our HOTBIT review is intended to assist traders in reading and understanding the likelihood of a large risk if they decide to trade with an HOTBIT broker with the risk of falling victim to an HOTBIT scam.
Hotbit’s location is unknown, while some assume that this digital asset market is situated in China. Hotbit appears to have debuted in January 2018. Furthermore, no information regarding the company behind this crypto exchange or its location is available. They also provide no information about the security mechanisms in place and appear to be offering only spot trading at this time.
Furthermore, they say the Hotbit team is global, but no information about team members or the team behind Hotbit is available for verification.Hotbit appears to have no deposit fees but exorbitant withdrawal costs. Furthermore, they have been accused elsewhere of fabricating trading volume.
On investigating online about HOTBIT Review we found that there are many negative HOTBIT reviews and complaints on different broking forums. This is a red flag, for HOTBIT broker can be possible scam as we mention in this HOTBIT review. Your investments may not be secured if you are trading with this broker.
Website – https://www.hotbit.io/
Website Availability – Yes
Official Address – NA
Warned by regulating authority – Comisión Nacional del Mercado de Valores (Spain)
Regulation Status- Unregulated
HOTBIT Review: What makes people suspicious of HOTBIT as a scam broker?
The following are some of the fraudulent activities that HOTBIT broker may engage in, and for this reason, we do not recommend working with this broker.
- The terms and conditions of HOTBIT broker are such, that it makes withdrawal impossible. Even it is not possible to bonus. The rules and regulations condition are kept purposefully in such a way to defraud traders/investors.
- The broker calls you umpteen times to invest more and more amounts in the account.
- Claims made through the website are untrue and are virtually not possible to achieve, execute or discharge.
- Returns on investments (ROI) promised by HOTBIT broker on his website are nearly impossible to achieve.
- Risk warnings while trading is not declared/disclosed on the webpage or would be disclosed in very small fonts at some corner of the page which is hardly readable/noticeable.
- The broker is active in the initial period; later on, he may not communicate with you or avoid replying altogether. He may change the URL or company’s name without notifying traders.
- The broker may be operating from those countries where regulation rules are lenient or vague. More often than not these countries are heaven for scam brokers.
- In the initial period, the broker will show you that you are making huge gains/profits but as soon as you submit a withdrawal request, your trades start making losses. Or they will point out some of their illegitimate rules of withdrawals whereby it will be impossible to withdraw.
Negative HOTBIT reviews
On surfing the internet or social media sites you will find many negative HOTBIT reviews and complaints of withdrawals of HOTBIT broker. We also examined and scrutinized HOTBIT broker online and other scam features, and hence included this broker in our list of scam brokers 2023. We always have a detailed investigative approach to accessing brokers and their reputations. We found the HOTBIT broker has a negative reputation.
What are the general reviews and complaints about HOTBIT broker?
We determined after reading many HOTBIT reviews and complaints from the broker that account users are frustrated and unable to withdraw their funds. The broker has lied to them and is not keeping his word. The broker’s functioning is not transparent. The HOTBIT broker is no longer communicating with them via any channels. The account has been banned or suspended.
HOTBIT Review: How to get your lost money back from the HOTBIT broker?
The best route to recover your stolen/lost money from the HOTBIT scam is Scams Report Team.
Scams Report has a committed team of experts from different fields. The combined team has years of experience and expertise dealing with fraud/scam broking companies. The Scams Report provides free consultation to those victims who have filled out a free consultation form and submitted it to us. We help you build up a solid case against the scammers without leaving any escape route for them, to regain your funds.
Have You Been a Victim of the HOTBIT Scam? Get Help from Us
Many investors feel that it is impossible to get their money back from these fraud/scam brokers. Let me assure you there is nothing like impossible. Many victims feel they are alone, be assured you are not alone; the scam broker has scammed many innocent investors and disappeared into thin air. He has scammed people in the past, is presently scamming, and will continue his activity in the future. Even the most cautious traders/investors make mistakes and fall into the booby trap laid by the scammers.
Precaution is better than cure. Before investing, stay alert, read reviews on different channels, after it is your hard-earned money. Scams Report Team has more than 10 years of experience in the field of fund recovery services from all types of scams like Forex trading scams, Binary Trading Scams, Cryptocurrency scams, Online Scams, Investment Scams, and all other financial scams. Scams Report is a genuine recovery organization that deploys all modern methods to help the victims of scams.
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