HOTRADES

HOTRADES is the trading brand of DEDA Capital Markets (Pty) Ltd, a South African entity registered in Sandton, Gauteng. The company was founded on 19 May 2025, making it a very recent entrant to the online trading space. Its official website, hotrades.com, presents a multi-asset trading platform offering forex, stocks, commodities, indices, and crypto CFDs.

According to our records, the broker holds a Derivatives Trading License (EP) from the Financial Sector Conduct Authority (FSCA) of South Africa, with licence number 50640. The FSCA is the primary regulator for financial markets in South Africa, and holding such a licence is a notable marker for a broker operating in the region. However, the licence status is listed as '—' in our records, meaning we have not confirmed its current active status.

HOTRADES is regulated by the FSCA under a Derivatives Trading License (EP) with licence number 50640. This licence is intended to authorise the provision of derivative trading services, which includes CFD and forex trading. The FSCA is a well-established regulator, and its oversight is generally considered a positive signal for retail traders.

That said, our records do not confirm the current status of this licence, and the broker is relatively young, having been founded in 2025. Traders should verify the licence directly with the FSCA before committing funds. The registered address is 9th Floor, Atrium on 5th Street, Sandton, Gauteng, 2196, which is a commercial area in Johannesburg's financial hub.

HOTRADES offers three account tiers designed to cater to different levels of traders. The Discovery account has a minimum deposit of $100, a maximum leverage of 1:100, and spreads from as low as 1.5 pips. The Prime account requires a $5,000 minimum deposit, offers leverage up to 1:300, and spreads from 0.8 pips. The Master account is the top tier, with a $20,000 minimum deposit, leverage up to 1:500, and spreads from 0.3 pips.

These tiers reflect a clear progression from entry-level to professional trading. The higher-tier accounts offer tighter spreads and higher leverage, which may appeal to more active or larger traders. However, the minimum deposits for Prime and Master are substantial, which could be a barrier for retail traders with smaller capital.

The official website indicates that HOTRADES supports MetaTrader 5 (MT5), a widely used trading platform, along with a proprietary web trader and mobile app. The platform is described as intuitive, and the broker lists markets including forex, crypto, indices, commodities, and stocks. This suggests a multi-asset offering that goes beyond just forex.

Our records do not specify the full list of instruments or the deposit and withdrawal methods. The website mentions features such as trading tools, CFD trading, and educational resources like a glossary and trading basics. For a new broker, the availability of MT5 is a positive sign, as it is a trusted platform among retail traders.

HOTRADES is a newly established broker, with a registration date of 19 May 2025. Our records show zero employees, which is unusual and may indicate that the company is in its early stages or operates with a lean structure. The broker has a presence on Facebook, Instagram, and LinkedIn, which is common for marketing purposes.

We found no clone or impersonator sites associated with HOTRADES, which is a positive finding. However, the lack of independent user reviews and the very short operating history mean that there is limited public track record to assess. Traders should approach with caution and conduct their own due diligence.

In FXCanary's assessment, HOTRADES carries a Scam Risk Score of 47 out of 100, which is rated as 'Guarded'. This score reflects the fact that the broker is recently established, being about 15 months old as of the time of our review. While the FSCA licence is a positive factor, the lack of a confirmed licence status and the absence of independent reviews are concerns.

We also note that the web search results returned information about a different entity named 'Hotrades' that has ceased operations, which could cause confusion. It is important for traders to verify that they are dealing with DEDA Capital Markets (Pty) Ltd and not a similarly named entity. Overall, the risk is moderate, and traders should exercise caution.

HOTRADES is a South African forex and CFD broker that is early in its lifecycle. It offers a range of account types with competitive leverage and spreads, and it is regulated by the FSCA. However, the broker's short history, lack of employee information, and limited public footprint mean that traders have little to go on beyond the company's own claims.

We recommend that potential clients verify the FSCA licence directly, start with a small deposit, and test the platform with a demo account before committing significant funds. As with any new broker, the absence of a track record is a risk factor that should not be overlooked.