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HotForex Discussion

  • #1,141
  • Aug 24, 2020 9:43pm Aug 24, 2020 9:43pm
Quoting Hitrader
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.
So are they better or worse in terms of spreads? Are you talking about spreads on majors or in overall?
  • #1,142
  • Aug 24, 2020 9:56pm Aug 24, 2020 9:56pm
Spreads are not competitive overall including majors.They have slightly higher spreads + commissions even in the Zero Spread account and execution is not so good.
  • #1,143
  • Aug 29, 2020 2:43am Aug 29, 2020 2:43am
Quoting Hitrader
Spreads are not competitive overall including majors.They have slightly higher spreads + commissions even in the Zero Spread account and execution is not so good.
Haven't noticed that, but ok, thanks for your feedback will keep that in mind.
  • #1,144
  • Sep 2, 2020 9:34am Sep 2, 2020 9:34am
Quoting Hitrader
Spreads are not competitive overall including majors.They have slightly higher spreads + commissions even in the Zero Spread account and execution is not so good.
IMO best thing with hotforex is their reputation, not necessarily their trading conditions.

Meaning that they will pay you profits every time = https://photoshar.in/hotforex-multiple-withdrawals
  • #1,145
  • Sep 2, 2020 9:05pm Sep 2, 2020 9:05pm
Quoting rockthepips
{quote} IMO best thing with hotforex is their reputation, not necessarily their trading conditions. Meaning that they will pay you profits every time = https://photoshar.in/hotforex-multiple-withdrawals
Lol, nice hope it is profit
  • #1,146
  • Sep 21, 2020 1:35am Sep 21, 2020 1:35am
Quoting rockthepips
{quote} IMO best thing with hotforex is their reputation, not necessarily their trading conditions.
They are in the market for the past one decade now, so is a good time in terms of calculating reputation.
  • #1,147
  • Sep 21, 2020 9:59pm Sep 21, 2020 9:59pm
Quoting jollypk
{quote} They are in the market for the past one decade now, so is a good time in terms of calculating reputation.
I heard that they had offline business before 2010 and started to offer services online 2011. One of the dinosaurs in the FX industry
  • #1,148
  • Oct 2, 2020 1:21am Oct 2, 2020 1:21am
Quoting bottomhigh
{quote} One of the dinosaurs in the FX industry
This one got me good, i guess yeah, on the brokers that was able to last this long while maintaining good services and continues to grow.
  • #1,149
  • Oct 3, 2020 11:34pm Oct 3, 2020 11:34pm
Quoting nda
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?
That sounds like a god awful idea!
What happens to your funds if the broker goes insolvent?
If the funds stay in their holding account then it will be like you never actually withdrew and your money will be locked until the liquidation process is completed, which can take years, and even after waiting for the process to complete you might not get any of your money back at all if they have large debts with creditors.
Be extremely careful if considering using this and make sure to actually read all of the related legal documents.
  • #1,150
  • Oct 8, 2020 12:33pm Oct 8, 2020 12:33pm
Does this broker still provide contest? It's such a long time I don't hear any contest email from this broker. Their VIP contest is really special and attracted.
  • #1,151
  • Oct 9, 2020 2:44am Oct 9, 2020 2:44am
contests come and go, they do have it from time to time. you can check it on their website
  • #1,152
  • Oct 14, 2020 12:59am Oct 14, 2020 12:59am
Quoting drayzen
{quote} That sounds like a god awful idea! What happens to your funds if the broker goes insolvent? If the funds stay in their holding account then it will be like you never actually withdrew and your money will be locked until the liquidation process is completed, which can take years, and even after waiting for the process to complete you might not get any of your money back at all if they have large debts with creditors. Be extremely careful if considering using this and make sure to actually read all of the related legal documents.
As far as I know Hotforex offers segregated accounts for clients. Basically it is protection against broker insolvency.
  • #1,153
  • Nov 25, 2020 10:05pm Nov 25, 2020 10:05pm
yup thats correct and they a big company now, like really big, if im not mistaken 2.5m accounts registered and thats no small feat.
  • #1,154
  • Dec 4, 2020 1:53am Dec 4, 2020 1:53am
Quoting bottomhigh
{quote} As far as I know Hotforex offers segregated accounts for clients. Basically it is protection against broker insolvency.
Some brokers solely keep the fund and use that fund to trade again traders, I still recall IronFX as a typical case that we should pick FCA brokers.
  • #1,155
  • Dec 10, 2020 6:47pm Dec 10, 2020 6:47pm
I guess the regulation falls on the traders location or origin, correct me if im wrong, but eu traders fall under the fca? right?
  • #1,156
  • Dec 10, 2020 11:03pm Dec 10, 2020 11:03pm
How is this broker recently? I am hearing some stuff on them when it comes to trading, can someone shed the light on this?
  • #1,157
  • Dec 31, 2020 10:50am Dec 31, 2020 10:50am
Quoting littlebirds
How is this broker recently? I am hearing some stuff on them when it comes to trading, can someone shed the light on this?
It's still good, no bad news, I think Forex had a decent year and this broker as well.
  • #1,158
  • Jan 1, 2021 8:37pm Jan 1, 2021 8:37pm
Quoting hoangforex
{quote} It's still good, no bad news, I think Forex had a decent year and this broker as well.
That is good to know, I will keep a look on this broker. Thanks for reverting back!
  • #1,159
  • Jan 7, 2021 12:15am Jan 7, 2021 12:15am
yeah, lets hope this 2021 is better annd good lluck to everyone, stay safe now
  • #1,160
  • Jan 17, 2021 2:52am Jan 17, 2021 2:52am
Quoting littlebirds
How is this broker recently? I am hearing some stuff on them when it comes to trading, can someone shed the light on this?
Sometimes this broker offers, I would call, a window of opportunity - very tight spreads and fast execution which make my latency algo profitable. But I'm struggling to determine the time when I need to trade.
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