PORT LOUIS, Mauritius, January 19, 2015 /PRNewswire/ --
HotForex is fully operational following unprecedented market volatility caused by the Swiss National Bank's decision to remove the Swiss franc cap. All negative account balances of HotForex clients have been set to zero.
HotForex has announced that all negative balances on client accounts have been set to zero, in line with the company's commitment to providing clients with a transparent and fair trading service. This announcement comes following the Swiss National Bank's decision to reverse the CHF cap that has been in place since 2011. The unexpected move by the SNB caused a sudden spike in volatility and a significant period of extreme lack of liquidity.
Strict risk management procedures ensured that HotForex emerged from the volatility unscathed and the company underlines the fact that in addition to covering negative account balances that occurred as a result of Thursday's unexpected market event, any clients that bought CHF have been paid in full. Furthermore, HotForex continues to meet capital adequacy requirements as set out by its regulators and client funds are protected, as per regulatory requirements, being held securely in segregated accounts at top tier banking institutions.
A spokesperson for HotForex stated, "Our long-time reputation as one of the most reliable brokers in the industry held true through the volatility that resulted from the decision of the SNB and our clients know that they can rely on us when it counts the most."
Notes to Media:
HotForex is a leading, global FX broker that offers both retail and institutional trading services to clients from around the world. Since its foundation, the company has consistently won coveted titles from respected finance industry bodies for its innovative forex trading service provision. For more information about HotForex: http://www.hotforex.com
Trading Forex and CFDs involves significant risk of loss.
HF Markets Ltd