HotForex Discussion | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Hotforex STP/ECN claims 38 replies

HotForex New York close charts? 6 replies

Hotforex platform behavior where orders aren't getting filled 16 replies

HotForex disabled trading at the moment 4 replies

HotForex discussion 34 replies

Attachments: HotForex Discussion
Exit Attachments

HotForex Discussion

  • #121
  • Nov 28, 2011 2:54pm Nov 28, 2011 2:54pm
Quoting Ultimatus
I must say HF seemed to have got things sorted. No disconnections late last week and so far this week, also the execution seems faster.

I hope it stays like this.
I agree. Looking at my Smart FX Master Scalper trades now and it seems they are opened without delay... Lets hope it stays like this
  • #122
  • Nov 28, 2011 4:40pm Nov 28, 2011 4:40pm
A Currenex account with Metatrader, $500 deposit, micro pips and an "STP" model?

lol Nice try.

This is no Currenex account. This is what we call marketing bullshit.
  • #123
  • Nov 28, 2011 4:46pm Nov 28, 2011 4:46pm
Quoting Ultimatus
I must say HF seemed to have got things sorted. No disconnections late last week and so far this week, also the execution seems faster.

I hope it stays like this.
are u on demo or real account?
Demo account never had any disconnection issues only on real account is where the game is played..i hv stop trading with them about a week ago.
  • #124
  • Nov 28, 2011 11:10pm Nov 28, 2011 11:10pm
Quoting leekaq
are u on demo or real account?
Demo account never had any disconnection issues only on real account is where the game is played..i hv stop trading with them about a week ago.
I am using live account everything is going on great with me, can you tell me what issues are going on with you ? because I am not getting disconnection.
  • #125
  • Nov 29, 2011 3:13am Nov 29, 2011 3:13am
Quoting Arjun Bajaj
I am using live account everything is going on great with me, can you tell me what issues are going on with you ? because I am not getting disconnection.
It's very good for you.

Some of my friends had hard time with execution and latency. Eventually, they had to closed their accounts.

Regards,

Josef
  • #126
  • Nov 29, 2011 3:18am Nov 29, 2011 3:18am
Quoting leekaq
are u on demo or real account?
Demo account never had any disconnection issues only on real account is where the game is played..i hv stop trading with them about a week ago.
Real account.
  • #127
  • Nov 29, 2011 4:58am Nov 29, 2011 4:58am
Quoting josef
It's very good for you.

Some of my friends had hard time with execution and latency. Eventually, they had to closed their accounts.

Regards,

Josef
Well Josef, I haven't had any issues the last few days, no complain from my side on execution and latency because If there are maintenance going on we are getting mail regarding this. And everything depends on my trading strategy that's why no complain now.
  • #128
  • Nov 29, 2011 6:47am Nov 29, 2011 6:47am
Quoting Arjun Bajaj
Well Josef, I haven't had any issues the last few days, no complain from my side on execution and latency because If there are maintenance going on we are getting mail regarding this. And everything depends on my trading strategy that's why no complain now.
What trading strategy do you use? How much have you made in November?

Regards,

Josef
  • #129
  • Nov 29, 2011 7:47am Nov 29, 2011 7:47am
Quoting Ultimatus
Real account.
I take back my previous comment, the connection has gone down again so business as usual for HotForex
  • #130
  • Nov 29, 2011 7:54am Nov 29, 2011 7:54am
i know how u felt.. until these issues are properly solved i am not jumping back to them. There are lots of other well regulated brokers to choose from..

Quoting Ultimatus
I take back my previous comment, the connection has gone down again so business as usual for HotForex
  • #131
  • Nov 29, 2011 8:18am Nov 29, 2011 8:18am
Quoting josef
What trading strategy do you use? How much have you made in November?

Regards,

Josef
Well Josef I'm using Lindencourt daily and profx, I have made about 8% in November so far. I have my own strategy too and the market is like a rollercoaster.... going up and down like crazy .
  • #132
  • Dec 3, 2011 6:07am Dec 3, 2011 6:07am
Knew that this 50% bonus was to good to be true. Was a bit interested for a split second there though. At first I thought, ok bonus is probably capped at 2k or something, but no, up to 15k EUR. Unlock $1 per lot, so only need to trade 15k lots with them (or there abouts) and I get a free 15k. Wow, ok lets have a look at commisions. There we go, $5 per lot - one way!!! $10 round trip!!! The best I have come across so far for currenex access is $1.50 per lot - $3 round trip. So every lot I trade at hotforex costs and extra $3.5 to unlock my free $1. I will be about 37.5k worse off by the time I unlock my bonus.
  • #133
  • Dec 3, 2011 6:30am Dec 3, 2011 6:30am
Quoting Agro
Knew that this 50% bonus was to good to be true.
Forget it. Just like online casino "bonus", Forex "bonus" is ALWAYS total bullshit. I take it as a bad sign when a bröker says it offers "free bonus". It just shows that they're that desperate to attract new traders.

Quoting Agro
The best I have come across so far for currenex access
Again, just for the record, that's not a real currenex access, it's a fake one.

They may be using currenex price feed, but you are definitely NOT trading in the real currenex network like you would with a real currenex access. Your orders are probably just filled internally just like the rest of account types. Offering these seemingly different "account types" is just a tactic to attract all kinds of traders (newbies and pros).

Good luck trading at a lying bröker.
  • #134
  • Dec 3, 2011 7:08am Dec 3, 2011 7:08am
How do you know this for sure? You say it like it is fact when they may legitimately be aggregating their clients trades and putting them through currenex. Not saying they are or arn't but how are you so sure? Their small lot size offerings may increase their risk i guess but there huge comm charges (and possible other games) might make up for this.
  • #135
  • Edited 6:20am Dec 4, 2011 5:45am | Edited 6:20am
Quoting Agro
How do you know this for sure?
I traded through the real cnx (currenex) and I know the kind of trading conditions associated with such high-level access. They are definitely NOT inline with what HotForex is giving.

- Trading platform: MetaTrader 4 <--- MT4 as a cnx platform? Right...
- Spreads: from 0.2 pips <--- cnx spreads CAN get below 0.2 pips (not too frequent, but it happens)
- Trading instruments: 41 Currency Pairs, Metals, Oil and Indices <--- The idiots don't even know that cnx is only for SPOT FOREX
- Fifth decimal: Yes <--- No shit
- Max leverage: 1:300 <--- The most leverage you can hope for with a real cnx account is 1:100
- Minimum opening deposit: USD $500 <--- 500 bucks for a cnx access? Keep dreaming.
- Minimum trade size: 0.01 lot <--- there is NO WAY cnx will take 0.01 lot orders
- Trade size increment: 0.01 <--- first of all, cnx allows trading in unit size not "lot size", which means no 0.01 lot "increments"
- Maximum trade size: 60 lots per position <--- cnx imposes no maximum position size
- Raw bonus: Flexible Bonus Offerings <--- lol. See my previous post on this.

In other words, they are pretty much lying to you. It's too obvious that this is neither a cnx nor a real ECN account, just a normal micro-lot account where HotForex is the real counterparty to your trades. They are giving it a separate professional level status just to attract traders in, and they use the word "currenex" just because it sounds professional. It's a more effective tactic than if the bröker only had one type of account.

Then again, this is exactly the kind of games I would expect from a company that has only chosen to obtain its license from "the Republic of Mauritius".

What makes all of this funnier is the "Honesty - Openness - Transparency" motto they write under their logo.
  • #136
  • Dec 4, 2011 7:36am Dec 4, 2011 7:36am
All the things you have mentioned could be done by aggregating trades. They give you the currenex feed and you trade that feed. They aggregate all their clients trades and put them through to currenex. This way hotforex could offer their clients any type of leverage, lot size, platform etc. The only one that could not be overcome is this

Quoting Marv
- Trading instruments: 41 Currency Pairs, Metals, Oil and Indices <--- The idiots don't even know that cnx is only for SPOT FOREX
but I think you can trade metals over currenex as london capital group are a very respected broker and thier currenex portal has metals.

I am not fighting for this broker by the way, they look very sus and comms are amazingly high. I would never even consider trading with them, but nothing you have said proves they are outright lying about giving their clients currenex access (in one form or another).
  • #137
  • Edited 8:12am Dec 4, 2011 8:01am | Edited 8:12am
Quoting Agro
All the things you have mentioned could be done by aggregating trades.
1) Suppose they do use aggregation of trades, that still won't guarantee that all orders are passed to currenex (this being a "currenex account"). What if the aggregated order size at a given moment isn't big enough to qualify for cnx execution, what do they do then? They simply take the other side of the trade. Which makes this is far from being a "currenex account" as a great deal of orders are filled internally (against HotForex). - Although I'm betting all of them are. I know a bucketshop when I see it.

2) Why don't they explain this aggregation thing instead of just saying this is a "currenex account"?

3) If such aggregation was possible (in a way that makes this a real cnx account), why aren't other reputable brökers providing such mighty-affordable cnx access?

Quoting Agro
Quoting Marv
- Trading instruments: 41 Currency Pairs, Metals, Oil and Indices <--- The idiots don't even know that cnx is only for SPOT FOREX
but I think you can trade metals over currenex as london capital group are a very respected broker and thier currenex portal has metals.
Spot FX does have spot metals.
  • #138
  • Dec 4, 2011 8:21am Dec 4, 2011 8:21am
Quoting Marv
1)
3) If such aggregation was possible (in a way that makes this a real cnx account), why aren't other reputable brökers not providing such mighty-affordable cnx access?
Because it is not affordable cnx access. As I say, comms are huge. It is just a marketing ploy to try and get retail traders thinking they are getting cnx spreads. But once you add the comms, you are much better off going almost anywhere else. But still, heaps of noobs will swallow it hook line and sinker and think they are finally getting access to cost of trading (spreads + comms) that the big investors are getting. Like you say, by offering 0.01 lot size they will have overflow which will equal greater risk, but I bet they are thinking along the lines of 'mostly noobs signing up for this (why would any decent trader pay $50/mm when there is $15/mm and better out there) so the risk we take on will prob be in our favour anyway and hey, this huge commission should make up for it anyway'.

We are on the same page, they look like a bucket shop to me too for sure, but they may legitimately be giving there clients currenex access, just at a huge price. Doesn't matter that your trades are not directly put into cnx if you get to trade the feed without it being altered (not saying they won't play games and manipulate the feed when they see fit) then you basically have cnx access.
  • #139
  • Dec 4, 2011 8:41am Dec 4, 2011 8:41am
Quoting Agro
Doesn't matter that your trades are not directly put into cnx if you get to trade the feed without it being altered (not saying they won't play games and manipulate the feed when they see fit) then you basically have cnx access.
I tend to see such access as more than just the "shown" price feed. What matters more to me is that my orders get passed to the actual network and liquidity pool I am told I am told I am taking part of; which is not only important for insuring quality and speed of my fills, how big I can trade with minimum slippage, etc. but also for ensuring that there is no conflict of interest with the entity holding my funds: my bröker.

You're absolutely right about the commission thing by the way. It makes sense.
  • #140
  • Dec 4, 2011 4:42pm Dec 4, 2011 4:42pm
Quoting Venelin
Hello eusanka,

There were issues.... the execution and the disconnections. It seems that hotforex has found where their problems are and everything looks good at the moment. The spreads on the majors are alright, but I have also noticed the CAD pairs... What are you using to scalp there? I am trading smart fx scalper and forex combo both placed at my cns vps, but looking for a bit cheaper vps server. Do you have anything in mind with good latency to the european datacenter of hotforex, which is located in the Netherlands?
LOL, I get almost daily disconnects with Hot Forex on a live account. I had one requote (not during news or highly volatile moment) on MT4 when I was trying to get out of a profitable trade. I logged on to their Webtrader only to find the pricing was still in my favor but I couldn't make as much by closing the trade. Their Webtrading pricing doesn't match their MT4 pricing. WTF?

Stay away from Hot Forex. I'm only going to use these guys for backup charting.
1 trader viewing now