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HotForex discussion

  • #1
  • First Post: Jan 14, 2011 1:09am Jan 14, 2011 1:09am
This broker looks very good. Can you share your thoughts about it?
  • #2
  • Jan 14, 2011 2:47am Jan 14, 2011 2:47am
Headquartered in the Republic of Mauritius ? An offshore entity? Did you read any of their legal customer documents? They state "The amount of time needed to execute a Request depends on the quality of the connection. Under Normal Market Conditions, the Requests are usually completed within one and ten seconds" One second? You do realize that's incredibly slow. 7 days minimum written notice to withdraw? No mention of account segregation, liquidity provisions, or anything of any use or reassurance.

Why someone would want to entrust their hard earned money here is beyond me. There must be 50 MT4 bucket shops that would be better, if one can't decide from the top 5-10 major ones.
  • #3
  • Jan 18, 2011 6:46am Jan 18, 2011 6:46am
Quoting Beljevina
Headquartered in the Republic of Mauritius ? An offshore entity? Did you read any of their legal customer documents? They state "The amount of time needed to execute a Request depends on the quality of the connection. Under Normal Market Conditions, the Requests are usually completed within one and ten seconds" One second? You do realize that's incredibly slow. 7 days minimum written notice to withdraw? No mention of account segregation, liquidity provisions, or anything of any use or reassurance.

Why someone would want to entrust their hard...
Never had an idea to trade with this broker, but after this post I'm really confused. So what brokers I can trust my money.
  • #4
  • Jan 20, 2011 6:07am Jan 20, 2011 6:07am
I trade with this broker and everything looks good so far. Have been trading demo for 1 month and went live since this year!
  • #5
  • Jan 24, 2011 6:06am Jan 24, 2011 6:06am
Any more information about this broker? I'm very interesting in it right now!

Beljevina, you feedback is the first negative feedback about it i found in the web!
  • #6
  • Apr 8, 2011 3:40am Apr 8, 2011 3:40am
Feedbacks from the users are good. But I don't like their bonus terms and conditions.

http://www.forexfactory.com/showthread.php?t=287947
  • #7
  • Apr 13, 2011 4:11am Apr 13, 2011 4:11am
I have used them.Eveything is ok but for payout u have send them signed form eveytime that sounds annoying Now i have moved out of them.
  • #8
  • Edited 9:34am Apr 13, 2011 9:09am | Edited 9:34am
Quoting Avalong
Any more information about this broker? I'm very interesting in it right now!

Beljevina, you feedback is the first negative feedback about it i found in the web!
So what does that mean? How can "the web" possibly make the decision for one to mail away thousands of dollars into a big black hole Donnald? Or is that Avalong? Wait - you're just logging in with different IPs, right?

Read what I wrote about Sunbirdfx. And click the links I provided that testify to their virtual existence. Hotbird is the same type of operation.

It is a tax resident in Mauritius. What is that? It's not a physical resident, right? So if it's a physical resident in say, the USA, why is it a tax resident of elsewhere? JadexFX was a resident of Belize for the same reasons, and it was a sham that went under weeks ago. I'm doubtful if HotForex's customer agreement is available for viewing prior to signing up. Even if it is, what about them being able to govern your financial assets? So they have overall governing ability, but - through the goodness of their heart - they also let you govern a little, by placing trades, here and there? What does this mean?

If after all that you still feel that among Oanda, MBT, Alpari and a multitude of respectable futures brokers in the US amd UK (that do spot fx as well) and are fully regulated, with real brick-and-mortar offices - that HotForex is the best option, I recommend you cease any notion of trading forex with real money. Or, declare your employment or shilling endeavours for this fake-fronted operation.
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  • #9
  • Jul 15, 2011 12:25am Jul 15, 2011 12:25am
New Trading HoursPosted on 28/06/2011 12:08 GMT

Dear Traders,
HotForex is pleased to announce that as of Monday the 4th of July it will be extending its trading hours.

In line with our commitment for continual improvements in the trading conditions we provide our Traders with, HotForex will be streaming live prices as of 00:00 (GMT +3) on the Monday and closing the weekly sessions on the Friday at 23:00 (GMT +3).

As a result of the above change the server times will be as follows;

GMT +3 hours

This change is the direct result of feedback from our clients and is a clear indication that HotForex is striving to service its client's needs and taking such requests seriously. We hope you enjoy the new improved trading conditions.
  • #10
  • Jul 15, 2011 3:44am Jul 15, 2011 3:44am
Quoting Beljevina
7 days minimum written notice to withdraw?
That is B.S.

Red flags and sirens should be going off right now.

What exactly constitutes a written notice?

Read contract very closely.

Make sure it is worded exactly right.
  • #11
  • Oct 31, 2011 7:25am Oct 31, 2011 7:25am
I have been trading with Hot Forex for a while and I'm very happy with them. Some issues with MDP lately, but otherwise their trading conditions are very good.
  • #12
  • Nov 1, 2011 8:15am Nov 1, 2011 8:15am
Quoting jiggz
I have been trading with Hot Forex for a while and I'm very happy with them. Some issues with MDP lately, but otherwise their trading conditions are very good.
hi I am trading with them too its really a good broker I am so satisfied, and I must say that they have got a remarkable customer support service !

PS: can you message me personally have got some questions )
  • #13
  • Nov 3, 2011 8:24am Nov 3, 2011 8:24am
Quoting jiggz
hi there saidsaid..

I'm just glad to see another member of the same broker here with me.. speaking of hotforex's report, I can totally relate, its like the VIP treatment.
and good luck on your future trades sir.
yeah you are definitely right ! for them the client is King !!
  • #14
  • Nov 4, 2011 7:49am Nov 4, 2011 7:49am
Quoting saidsaid
yeah you are definitely right ! for them the client is King !!
yeah i know what you mean, I just like the feel of the company, btw saidsaid how many pairs are you trading in?
  • #15
  • Nov 4, 2011 8:27am Nov 4, 2011 8:27am
Quoting JohnFX_King
Feedbacks from the users are good. But I don't like their bonus terms and conditions.

http://www.forexfactory.com/showthread.php?t=287947

JohnFX_King,

I didn't get you what you exactly means by this post ?

as you said "Feedbacks from the users are good" so what you mean by this http://www.forexfactory.com/showthread.php?t=287947 ??????????
  • #16
  • Nov 15, 2011 1:19pm Nov 15, 2011 1:19pm
I am very happy with them and when I withdraw money I usually see in my bank account within 4 hours.
  • #17
  • Nov 16, 2011 6:46am Nov 16, 2011 6:46am
hi dk58198,

wow thats really fast, It takes me usually around 3-6 days to be in my bank account but thats really fast for me, I mean compared to my old brokers, and its understandable since Im from like south east asia
  • #18
  • Nov 21, 2011 7:17am Nov 21, 2011 7:17am
Quoting jiggz
hi guys, how's trading going with you here in hotforex?
Well, I am pretty much happy with Hotforex and Like to introduce horforex in my friends circle.
  • #19
  • Nov 21, 2011 6:47pm Nov 21, 2011 6:47pm
ya,,,wait until u have all those connection errors and common errors when u try to close yr trades,,,
  • #20
  • Nov 21, 2011 7:03pm Nov 21, 2011 7:03pm
Quoting Arjun Bajaj
JohnFX_King,

I didn't get you what you exactly means by this post ?

as you said "Feedbacks from the users are good" so what you mean by this http://www.forexfactory.com/showthread.php?t=287947 ??????????
those 50% bonus is a scam,,beware about it as it will be included in yr free margin.. remember that u can only claim the bonus if u fulfill certain conditions... but it is alredy displayed in yr free margin, like the money u already own. Once u lost yr original deposit and yr trades start to eat into the 50% bonus margin, all yr trades will be closed and the bonus will be wiped out,,,..
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