I'm interested in switching from Oanda to HotForex because of high spreads on Oanda. Another reason i have heard they issue debit cards where you can withdraw your funds to. Is this correct?
I'm interested in switching from Oanda to HotForex because of high spreads on Oanda. Another reason i have heard they issue debit cards where you can withdraw your funds to. Is this correct?
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Yes I use one of them sometimes a bit high fee ATM, but pretty quick withdrawals
{quote} Great. I'm planning to move from oanda to hotforex. Are you happy with hotforex?
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Why did you decide to change the broker? Answering to your question yes I'm satisfied. When I'm happy it usually a combination of luck and some good DD
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Joined Oct 2015
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Status: Gaining knowledge
|16 Posts
hello guys
i made a deposit via wire, made profit and now withdrawing, the problem that i closed the bank account i used for initial deposit (i was temporarily staying in the county)
now withdraw is not allowed only to the initial bank account that is closed, money is bouncing back when i select different bank account
had any body been in the same situation and how to solve it?
i believe it is not the broker refusing the withdrawal, its about the AML regulations .
since i cannot post a thread, i just wanna ask that, will the closing of the trade depends on the spread as well if the trade is heading for a stop loss? i took a demo trade and i got stoped out even before hitting my S/L, My stop loss in EURAUD trade was 1.6322 but i got stopped at 1.6316, another trade which i took my S/L was 1.6310 but i got stopped at 1.6303, is it because of the spread or there are other factors involved?
Hi, since i cannot post a thread, i just wanna ask that, will the closing of the trade depends on the spread as well if the trade is heading for a stop loss? i took a demo trade and i got stoped out even before hitting my S/L, My stop loss in EURAUD trade was 1.6322 but i got stopped at 1.6316, another trade which i took my S/L was 1.6310 but i got stopped at 1.6303, is it because of the spread or there are other factors involved? regards
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its called a margin call, depends on your broker margin call level your trade stop out may occur at a 100% loss or less
A margin call occurs when the value of an investor's margin account falls below the broker's required amount.
{quote} its called a margin call, depends on your broker margin call level your trade stop out may occur at a 100% loss or less A margin call occurs when the value of an investor's margin account falls below the broker's required amount.
Ignored
that is not possble because my account balance was $ 2,933, my volume was 0.1 (1000 EUR) hence with 3% (margin requirement) required margin is mere $ 33 and i only lost $ 1, so my margin level would be 2932/33*100 = 8884%
Hi, since i cannot post a thread, i just wanna ask that, will the closing of the trade depends on the spread as well if the trade is heading for a stop loss? i took a demo trade and i got stoped out even before hitting my S/L, My stop loss in EURAUD trade was 1.6322 but i got stopped at 1.6316, another trade which i took my S/L was 1.6310 but i got stopped at 1.6303, is it because of the spread or there are other factors involved? regards
Ignored
Trades are opened and closed at price which is worse for you. If you buy you should be filled at the Ask price, if you sell - at the Bid price. So for BUY position you will be opened at ask, closed at bid, for SELL position opened at bid, closed at ask. The price displayed in the platform is bid.
The difference between SL and price where you was closed looks like a spread + slippage. Was there a sharp move during the close?
{quote} Trades are opened and closed at price which is worse for you. If you buy you should be filled at the Ask price, if you sell - at the Bid price. So for BUY position you will be opened at ask, closed at bid, for SELL position opened at bid, closed at ask. The price displayed in the platform is bid. The difference between SL and price where you was closed looks like a spread + slippage.Was there a sharp move during the close?
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so is this always the case meaning spread+slippage?
regarding the bold line, i dont think so, it was a very short candle.
{quote} so is this always the case meaning spread+slippage? regarding the bold line, i dont think so, it was a very short candle. {image} regards
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When it happens, yes, slippage affects it. Unfortunately this is harsh reality of live trading, it's not possible to achieve excellent execution on every order fill..
{quote} When it happens, yes, slippage affects it. Unfortunately this is harsh reality of live trading, it's not possible to achieve excellent execution on every order fill..
I'm interested in switching from Oanda to HotForex because of high spreads on Oanda. Another reason i have heard they issue debit cards where you can withdraw your funds to. Is this correct?
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Are you talking about this debit card? https://photoshar.in/hotforex_debit_card
Honestly I think its not available for every account, I mean it depends where is your residency
{quote} Are you talking about this debit card? https://photoshar.in/hotforex_debit_card Honestly I think its not available for every account, I mean it depends where is your residency
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What do you mean? Is it available only for certain countries or for clients who meet certain conditions?
I've done some research about HotForex. Tradingdesk say Hotforex is STP broker, there're no requotes. I've also checked Order Execution Policies (OEP) for every regulator. In Hotforex (SV, St.Vincent and Grenadines regulation) OEP, it says Hotforex is in client's side, doesn't act as a counterparty, order executing with third party, which is HFMarkets. Hotforex under Sychelles regulation is also same as Hotforex (SV), Hotforex doesn't act as a counterparty, but HFMarkets do. Under Cyprus regulation, Hotforex acts as a counterparty, so we can consider it as a market making. I couldn't find Order Execution Policy for FCA regulation, but probably execution will be same as SV and Sychelles regulation.
As a result, even if Hotforex doesn't act as a counterparty, then HFMarkets do. Which is parent of Hotforex, so I'm not sure this is transparency or not, we're again dealing with Hotforex in the end. So if there's someone who's aware of this concept, and believe it's safe, please clarify me and us. Thanks
I've done some research about HotForex. Tradingdesk say Hotforex is STP broker, there're no requotes. I've also checked Order Execution Policies (OEP) for every regulator. In Hotforex (SV, St.Vincent and Grenadines regulation) OEP, it says Hotforex is in client's side, doesn't act as a counterparty, order executing with third party, which is HFMarkets. Hotforex under Sychelles regulation is also same as Hotforex (SV), Hotforex doesn't act as a counterparty, but HFMarkets do. Under Cyprus regulation, Hotforex acts as a counterparty, so we can consider...
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I suppose it's only for particular markets (trading instruments) not on all. Brokers should specify that in their ToS
I have zero spread account with Hotforex, but its no where near the IC markets or other competitors both in spreads and execution. Their execution on MT5 is good, but in MT4 its awful and Zero spread is offered only MT4. MT5 has very high spreads.
