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HotForex Discussion

  • #481
  • Dec 22, 2014 1:25am Dec 22, 2014 1:25am
Quoting jiggz
whenever i talk to people about brokers, i always tell them its good to check feedback and do some research, but the best way is to always do a small deposit and test the broker all over, do a couple of trades then withdraw, that way to check all functions first hand before you jump in with your investment, you might as well trade the minimum for a month or so just to be sure.
Sometimes broker needs continuing testing to understand if it's worth to trade with or not. You won't get comprehensive picture of broker execution and spreads from spending 40-50 bucks, moreover you won't be able to test them with substantial lot position with that trivial amount. I shot Hotforex with 2K first time, it was enough to sustain some tolerable drawdown and then get over the hard period of adaption.. . Good luck mate!
  • #482
  • Jan 16, 2015 11:45am Jan 16, 2015 11:45am
Hello guys,

I wanted to share with you an official announcement of HotForex regarding the CHF situation that's still going on the market.

HotForex: Update following the SNB CHF Cap Reversal

Dear Clients,

Following the Swiss National Bank’s decision yesterday to remove the Swiss Franc cap and the subsequent spike in volatility, the market experienced a period of extreme lack of liquidity for trading in CHF pairs. This led to significant losses for many market participants.

We would like to reassure you that HotForex is operating as normal, and was not affected in any material way.Our strict Risk Management procedures minimized the impact of this event.

Furthermore, we have stayed true to our motto of Honesty, Openness and Transparency. As testament to our commitment to fairness, all negative account balances have been reset to zero and any clients that bought CHF have been paid in full.

We are very proud of our reputation in the market and we are confident that after this event our reputation will grow even stronger. We would also like to take this opportunity to thank all of our clients and partners for their continued loyalty and we are looking forward to a strong 2015.

As a last note, please exercise extreme caution if entering the markets today as the volatility seems to be set to continue

If you have any questions please do not hesitate to contact our dedicated customer support team via myHotForex, live chat, or by telephone on +44 2033185978.

Kind Regards,

The HotForex Management Team
  • #483
  • Jan 18, 2015 10:55am Jan 18, 2015 10:55am
How much is regulated maximum? Alpari are regulated under FCA and have a maximum of 50 000£. Hotforex are regulated under CySEC. Anyone know how much maximum for regulation is?

I used HF for 3 years, changed to Alpari uk because it feelt safer at that time. Uk regulated.

I have never had problems with HF. I have traded with great profit and always got my requested withdrawal.

Now that Alpari are screwed I need to find another broker.
  • #484
  • Jan 20, 2015 3:56am Jan 20, 2015 3:56am
Quoting Elhemano1
How much is regulated maximum? Alpari are regulated under FCA and have a maximum of 50 000£. Hotforex are regulated under CySEC. Anyone know how much maximum for regulation is? I used HF for 3 years, changed to Alpari uk because it feelt safer at that time. Uk regulated. I have never had problems with HF. I have traded with great profit and always got my requested withdrawal. Now that Alpari are screwed I need to find another broker.
Don't know about Max, but regulated min for CySec is 20 K.
  • #485
  • Jan 21, 2015 4:34pm Jan 21, 2015 4:34pm
Ok, hotforex reseted negative balances to Zero, but did they honored defined SL?
  • #486
  • Jan 22, 2015 3:11am Jan 22, 2015 3:11am
Quoting dotnetfreak
Ok, hotforex reseted negative balances to Zero, but did they honored defined SL?
Did you want them to find liquidity from nowhere when market was in collapse. They are not market makers, so “best available price” principle were applicable to them as well.
  • #487
  • Jan 23, 2015 8:50am Jan 23, 2015 8:50am
Is Hotforex a market maker or a STP broker? I'm not so sure they are not market makers. Anyway Hotforex is a good broker.
  • #488
  • Jan 24, 2015 1:14pm Jan 24, 2015 1:14pm
Quoting str8
Is Hotforex a market maker or a STP broker? I'm not so sure they are not market makers. Anyway Hotforex is a good broker.
STP broker but they can filter prices too. Apari UK was ECN and they reckon filter prices...
Try don't lose pants never...
  • #489
  • Jan 26, 2015 7:17am Jan 26, 2015 7:17am
Quoting braintheboss
{quote} STP broker but they can filter prices too. Apari UK was ECN and they reckon filter prices...

What do you mean under price filtering? For me it's only spread markup, after 3 years of trading with them didn't noticed any MM practices such as slippage manipulation or platform freezes.
But it all depends from the trader tough
  • #490
  • Feb 9, 2015 7:51am Feb 9, 2015 7:51am
Guys what do you think about zero spread account ?
Still getting confused about 00 spread
  • #491
  • Feb 12, 2015 10:59am Feb 12, 2015 10:59am
Quoting Arjun Bajaj
Guys what do you think about zero spread account ? Still getting confused about 00 spread

What's particularly makes you confused? There is no free cheese in a mousetrap. They offer raw LP spreads with commissions, sometimes I feel I get better execution there than on my Premium account. 8 bucks for round-turn commission together with interbank spreads makes sense of news scalping with good volume but still I won't recommend it for regular techy scalpers. But it is my own opinion. Activated demo access to zero spread account with inquiry to their support, they was quite responsive on that matter...
Let me know if you have any further questions..
  • #492
  • Feb 13, 2015 1:21am Feb 13, 2015 1:21am
the new account is very very interesting, in my opinion scalpers might benifit most from it, but just make sure to check its tos and how things works in that account to avoid confusion
  • #493
  • Feb 15, 2015 5:37am Feb 15, 2015 5:37am
Quoting aiming4stars
{quote} Well I think the most important thing is not to put all your eggs in the same basket. I mean if you want to try a broker, deposit only the minimum of money and see how well it goes.
Yea, given the recent events.. One should not put more than you can afford to lose..
Hello World!
  • #494
  • Feb 24, 2015 3:21am Feb 24, 2015 3:21am
Quoting ClockTrader
{quote} Yea, given the recent events.. One should not put more than you can afford to lose..
Always set a stop loss for your trades to keep the lost doesn't goes further, it's the most stable way to survive in forex market. Regarding zero spread account, I have not tried it but I think it's for trader want to optimize their strategy by skipping the spread.
  • #495
  • Feb 26, 2015 6:56am Feb 26, 2015 6:56am
Quoting ClockTrader
{quote} Yea, given the recent events.. One should not put more than you can afford to lose..
Agree and also don't take Forex a gambling or you will lose more to to cover previous one.
  • #496
  • Mar 7, 2015 6:59am Mar 7, 2015 6:59am
Did somebody try to trade yesterday's NFP release there? What was the slippage you get?
  • #497
  • Mar 11, 2015 3:26am Mar 11, 2015 3:26am
nope, i was out yesterday didnt have the chance to do trading. but its all good.
  • #498
  • Mar 19, 2015 4:59am Mar 19, 2015 4:59am
im trading with this broker. but not yet request withdrawal.. is this broker ok?
  • #499
  • Mar 19, 2015 6:50pm Mar 19, 2015 6:50pm
Quoting kucindacat
im trading with this broker. But not yet request withdrawal.. Is this broker ok?
withdraw your money as soon as possible. Hotforex is a scam broker.

Hotforex will scam your money as soon as you start making consistent profits.

Hotforex is a market maker
  • #500
  • Mar 20, 2015 1:09am Mar 20, 2015 1:09am
Quoting aiming4stars
{quote} You probably have better chances of winning at the casino than beating the spread and slippage of the NFP...

It depends on the broker. They basically don't encourage news traders because mess with liquidity leaves particular danger for them to take losses. However for broker which doesn't experience problem with LP, news trading won't be of particular concern, what in turn means tolerable spreads and slippage.
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