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/10

Hedgespots

Bulgaria Bulgaria | 5-10 years |
Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

https://hedgespots.com/

Website

Rating Index

Contact

+ 442038689226
https://hedgespots.com/

license Forex License

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
2

Basic Information

Registered Region
Bulgaria
Operating Period
5-10 years
Company Name
Get Promotions LTD
Email
support@hedgespots.org
Contact Number
+ 442038689226
Account Info
Verified Site
About Us
Disclosure
Wiki Q&A
Comment

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Official Website

Verified Site

  • hedgespots.com
    104.18.7.198
    Server Location
    United States United States
    ICP Registration No.
    --
    Top Visitor Locations
    --
    Creation Date
    2018-05-07
    Website Name
    WHOIS.GODADDY.COM
    Company
    GODADDY.COM, LLC

Company Profile

Company Profile

Review summary

Note: Hedgespots's official website: https://hedgespots.com/ is currently inaccessible normally.

Hedgespots Review Summary
Founded2019
Registered Country/RegionBulgaria
RegulationUnregulated
Market InstrumentsForex pairs, shares, indices, cryptocurrencies and commodities
Demo Account
Leverage1:50
EUR/USD Spread/
Trading PlatformWeb
Min Deposit€1000
Customer SupportTel: 442038689226
Email: support@hedgespots.org

Founded in 2019, Hedgespots is an unregulated Bulgarian CFD brokerage firm that primarily offers trading in forex pairs, shares, indices, cryptocurrencies, and commodities. The company provides six types of trading accounts and a web-based trading platform, with a minimum deposit requirement of €1,000. Notably, the leverage offered is relatively low, at only 1:50.

Pros and Cons

Pros Cons
Various trading choicesNo regulation
Multiple account typesNo demo accounts
Various payment methodsContradictory info on commissions
No reliable trading platform
High Inactive fee
High minimum deposit

Is Hedgespots Legit?

No, Hedgespots is not a legitimate financial service provider. Worse still, it appears on the warning list of the Monetary Authority of Singapore (MAS), as the brokerage firm has been targeting traders without proper authorization and engaging in fraudulent activities. Therefore, we recommend that you avoid dealing with HedgeSpots and instead choose a broker that is licensed.

Is Hedgespots Legit?

What Can I Trade on Hedgespots?

Hedgespots mainly offers trading in forex pairs, shares, indices, cryptocurrencies, and commodities.

Tradable Instruments Supported
Forex
Commodities
Indices
Shares
Cryptocurrencies
Bonds
Options
ETFs

Account Type

Hedgespots offers six types of accounts, with a minimum deposit requirement of €1000 for the entry-level account. This minimum deposit is significantly higher than the industry standard of $250. Additionally, while Hedgespots claims to not charge commissions, all accounts, except for the opening account, will incur a certain amount of interest.

Account TypeMin Deposit Interest
Opening€1,0000
Horizon€5,0003%
Heritage€15,0004%
Fortune€50,0005%
Great Fortune€150,0006%
Infinite€300,0007%
Account comparison

Leverage

HedgeSpots offers a leverage of 1:50. This is considered a conservative level, where losses and profits are generally not excessively high. However, due to the broker being unregulated, it is advisable to choose a more reliable trading partner.

Hedgespots Fees

HedgeSpots claims on its account types page that it does not charge commissions. However, on other pages, it mentions that it charges very low commissions, without providing any specific figures. This contradictory information suggests that the broker is not trustworthy and may be attempting to deceive potential clients.

In its terms and conditions, HedgeSpots states that if an account is not used for trading for a period of 6 months, they will charge a monthly inactivity fee of 10%, which is exceptionally high.

Trading Platform

HedgeSpots supports an unknown and unverified web-based trading platform, and since they do not provide demo accounts, we are unable to verify their reliability.

It is advisable to choose a broker that provides such a reputable and reliable trading platform.

Trading PlatformSupported Available Devices Suitable for
Web-basedWeb/
MT4/Beginners
MT5/Experienced traders
Web

Deposit and withdrawal

HedgeSpots supports a variety of deposit and withdrawal methods, including Visa, American Express, MasterCard, bank wire transfers, the electronic wallet Skrill, and Bitcoin.

Company Profile

  • 5-10 years
  • Questionable Regulatory License
  • Suspicious Operational Region
  • High Potential Risk

Wiki Q&A

Is it risky to trade with Hedgespots?

Yes, trading with Hedgespots carries significant risk, primarily due to its unregulated status and an overall WikiFX score of 1.54, which corresponds to a severe risk warning. The broker operates as Get Promotions LTD in Bulgaria, a jurisdiction not known for robust retail forex oversight, leaving client funds without the protections offered by top-tier financial authorities. Its account structure requires very high minimum deposits, from 1,000€ for an OPENING account up to 300,000€ for its INFINITE tier, which is atypical for the retail market and represents a substantial capital exposure.

04-02
United States

Is Hedgespots suitable for forex trading beginners?

Trading forex and CFDs involves a high degree of complexity and market risk. Whether you choose Hedgespots or another trading platform, we strongly recommend that beginners thoroughly study forex basics before investing real funds. It is also highly advisable to practice with a demo account first to familiarize yourself with the platform's operations and market volatility.

04-02
United States

What essential information should I know before trading with Hedgespots?

Before opening a live account, it is recommended to comprehensively understand the platform's regulatory status, deposit and withdrawal policies, spread costs, and overnight fees (swaps). Additionally, you can consult WikiFX to review the broker's latest score and user feedback to help you make a more informed investment decision.

04-02
United States

¿Qué aspectos deben considerarse al elegir un bróker seguro?

Al elegir un bróker seguro, los inversores deben centrarse en factores como la situación regulatoria, la seguridad de los fondos y la transparencia de las condiciones de trading. Generalmente se recomienda priorizar plataformas reguladas por organismos reconocidos como la FCA, la SEC o la ASIC. También es importante verificar si los fondos se mantienen en cuentas segregadas, si la estructura de comisiones es transparente y si existen incidencias relacionadas con retiradas o reclamaciones relevantes. La puntuación de WikiFX y los comentarios de usuarios pueden servir como referencia adicional.

Three days ago

¿Cómo comparar diferentes brókers de forma eficaz?

Para comparar diferentes brókers, los inversores pueden evaluar factores como la situación regulatoria, la puntuación integral, el entorno de trading, las condiciones de cuenta y los comentarios de usuarios. Se recomienda priorizar la verificación del estado regulatorio y las licencias, seguida del análisis de la puntuación WikiFX y sus distintos índices. La herramienta de comparación multidimensional de WikiFX permite realizar evaluaciones más estructuradas y eficientes.

Three days ago

Apa yang dimaksud dengan situs broker kloning?

Situs broker kloning adalah situs yang meniru informasi broker resmi untuk menyesatkan investor agar melakukan penyetoran dana. Situs tersebut biasanya menyalin nama merek, desain halaman, bahkan informasi regulasi. Ciri umum meliputi domain yang sangat mirip dengan situs resmi, informasi kontak yang sulit diverifikasi, serta penawaran keuntungan yang tidak wajar. Setelah dana masuk ke platform seperti ini, biasanya sulit untuk dipulihkan. Disarankan untuk memverifikasi domain resmi dan informasi regulasi serta menggunakan WikiFX sebagai referensi tambahan.

Three days ago

Apa itu WikiFX dan bagaimana membantu investor?

WikiFX adalah platform pihak ketiga yang menyediakan layanan pencarian informasi broker forex serta peringatan risiko. Platform ini mengintegrasikan informasi regulasi, umpan balik pengguna, dan riwayat operasional broker, serta melakukan evaluasi melalui model multidimensi untuk membantu investor memahami kondisi broker secara lebih menyeluruh.

Three days ago

What is a clone broker website?

A cloned broker website refers to a fraudulent website that imitates the information of a legitimate broker. Such websites usually copy the real company's brand name, page design, and even regulatory information to mislead investors into making deposits. Common features include: a domain name highly similar to the official website (such as slight spelling differences), abnormal or unverifiable contact information, and promises of unusually high returns. Once funds enter such platforms, they are usually difficult to recover. Investors can identify potential risks by checking the official domain name, verifying regulatory information, and using WikiFX for cross-verification.

04-02
United States
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