i believe you are correct, most of them act as agents and have an obligation to fullfill your orders, unfortunately they are not even close of being affordable for the retail investor, minimum account on them is over one million dollars
this is my account , http://pamm.hotforex.com/en/managerd...793&usermode=0 they made me look like a complete dumbass and i made 400% in aprox one month and a half, i beat number one in 2 months i am working now with interactive brokers, and although i havent had any problems with them regarding execution , the 40:1 leverage is too low so im thinking that i want to start my own retail ecn forex broker with no requotes and bullshit since i cant find one how can you tell if a broker is honest? i think by this...
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VForex,
How long were you trading with Hot Forex before you opened a PAMM account? I was testing a relatively small retail account with them in 2012, and had some slippage/requotes problems. I subsequently tried their Webtrader platform to see if that helped. No luck - worse order execution, and they indicated they were using a different liquidity problem than their MT4 platform.....LOL. There was a rumor floating around that Hot Forex lost one of their liquidity providers. Believe it or not, they actually credited some of my bad trades when their MT4 platform was coincidentally also having problems. Whatever the case was, I decided Hot Forex wasn't worth the risk......too many problems. Have you tried Smarttrade FX or FinFX? I was testing a small account with Smarttrade when the EUR/CHF peg took effect, and got a quick 145 pips on EUR/USD.
Sorry to hear about your loss. Maybe you should avoid PAMM accounts until you have tested another broker's platform for 6 -12 months. Even then, look what happened to JadeFX, PFG, FXCM, etc.
I am trading with them for quite a while and haven't noticed any issues recently. I know a person who's trading at hotforex who made over 18K on the EURCHF peg. So I guess all the issues they had in the past are resolved.
I am trading with them for quite a while and haven't noticed any issues recently. I know a person who's trading at hotforex who made over 18K on the EURCHF peg. So I guess all the issues they had in the past are resolved.
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Well, I'm glad you haven't had recent problems. What is your definition of "quite a while?" Do you know if they found another liquidity provider? If not, I would be concerned if you are trading large lots and are profitable. Remember, a large trader with a high monthly volume turnover isn't going to get a highly leveraged account like a retail trader can get, so I believe the retail broker must absorb the difference in leverage. Example - Retail broker gets 1:50 (or less) leverage from one or more prime brokers, but offers 1:500 leverage to its retail traders. If a certain percentage of traders become profitable, it eats away the profit margin of the retail broker. Therefore, some retail brokers will be inclined to manipulate price feeds and order entry/exit timing to offset the extra risk taken.
{quote} VForex, How long were you trading with Hot Forex before you opened a PAMM account? I was testing a relatively small retail account with them in 2012, and had some slippage/requotes problems. I subsequently tried their Webtrader platform to see if that helped. No luck - worse order execution, and they indicated they were using a different liquidity problem than their MT4 platform.....LOL. There was a rumor floating around that Hot Forex lost one of their liquidity providers. Believe it or not, they actually credited some of my bad trades...
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i was trading for 6 months with instant execution with them , everything was perfect thats until i started making some decent money , lol these guys never cease to amaze me , i heard about finfx that it was a really good idea , i appreciate your response and i think i cant manage a pamm for long term because i need market maker brokers that give me instant execution until i can afford a prime broker, even so remember that this is a poker game and every penny you make is a pip lost by someone , be extra carefull in every turn
{quote} Well, I'm glad you haven't had recent problems. What is your definition of "quite a while?" Do you know if they found another liquidity provider? If not, I would be concerned if you are trading large lots and are profitable. Remember, a large trader with a high monthly volume turnover isn't going to get a highly leveraged account like a retail trader can get, so I believe the retail broker must absorb the difference in leverage. Example - Retail broker gets 1:50 (or less) leverage from one or more prime brokers, but offers 1:500 leverage...
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you are correct, one time i doubled the capital in 10 minutes with more than 10 lots so i guess that was the warning for them , i seriously recommend using a broker like interactive brokers or one that offers no back stabbing virtual dealers , as of right now im still thinking about making a retail forex broker with some sort of assurance that it dosent hotforex its clients
{quote} you are correct, one time i doubled the capital in 10 minutes with more than 10 lots so i guess that was the warning for them , i seriously recommend using a broker like interactive brokers or one that offers no back stabbing virtual dealers , as of right now im still thinking about making a retail forex broker with some sort of assurance that it dosent hotforex its clients
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Geez, sorry for my replying back to you so late. Good job on doubling your capital in such a short period of time. How did you do it? My guess is they flagged your account for manipulation going forward. I would almost be willing to guarantee you most other non-MT4 brokers can manipulate their price feed to clients as well. I was in on the EUR/CHF peg in Sep. 2011, but I had an open EUR/USD long, and made 145 pips quickly. Unfortunately, I was only trading $1/pip. The broker for that trade was Smarttrade.
