Hedgespots is a forex brokerage owned by Get Promotions LTD located at Office 4, Sofia, Bulgaria. Join us below as we review this forex trading platform. This review aims to explore the trading platform, listing out aspects like licensing, its leverages, account types, and its withdrawal and deposit methods. It also aims to fact check claims that have been made by Hedgespot forex trading platform to determine whether if it is safe enough to trade with or if it is just one big scam.

Heddgespots landing page

Hedgespot Trading Platform

Hedgespots.com claims that their absolute goal and motto is to achieve success for their clientele. They ensure these results by always giving each client a tailored plan combined with a schedule that fits them.

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hedgespots capabilites

Hedge Spot promises an array of assets that includes Forex and CFDs. The broker also offers 12 different types of cryptocurrency on their platform, these include Bitcoin, Ethereum, Litecoin, Dash, Ripple, WAVES, Zcash, Monero, KICK, Doge, Ethereum Classic, Bitcoin Cash.

Hedgespots.com also claims to offer webinars with hundreds in attendance. It claims to offer education in form articles from there blog that teaches forex and its terminologies, about cryptocurrency and technical and fundamental analysis.

Hedgespots Account Types

Hedgespots has not one, not two but six account types with the entry account starting with a minimum deposit of €1000. Which is an amount more than the acceptable minimum of $250 dollars that the industry has set.

Hedgespot account types

Hedgespots Withdrawal and Deposit Methods

Hedgespot claims that their client’s funds are held in a segregated account. They claim that the funds are used only for trading through their website upon the client’s instructions and are never used for any other cause.

They also collect a commission for deposit and withdrawal of funds depending on the chosen payment system and the popularity of the selected direction. They place withdrawal limits depending on the payment instrument.

Clients may deposit or withdraw via the standard Visa and MasterCard, as well as bank-wire, the e-wallet Skrill, and Bitcoin.

After a thorough read of the site, we came across withdrawal conditions concerning accounts that took advantage of the bonus promotion. They say that a trader has to achieve a certain trading volume in order to be eligible for withdrawal which is purposefully excessive. This is a practice most seen in scammers. This tactic is employed so as to impede any trader from actually receiving his money.

Is Hedgespots Licensed?

After going through the database of the Bulgarian Financial Supervision Commission, we find no mention of Hedgespot being a licensed company. A good sign that Hedge spot isn’t a registered company. Another sign is that while searching for them we came across an official warning issued by the Monetary Authority of Singapore which reads that the broker has been targeting traders without proper authorization and further taking part in scam operations. A definitive sign that this brokerage isn’t licensed.

Conclusion

In conclusion, we wouldn’t advise or recommend you to trade with Hedgespots.com as we could not substantiate their claim of being a registered company.

Hedgespots.com is likely a platform run by scammers, trading with them would likely result in you losing your money.

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