HF Markets
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Overall
I waiting almost one month for withdraw so you had to be lucky
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If you would like to trade with this broker, please becareful about it and watch this video first.
Youtube : https://www.youtube.com/watch?v=OXNjx_6tyvs
They will give you off quotes requotes freeze during news, spread as high as 15pips, good luck.
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Pain in the ass if it comes to withdraw anything, NEVER AGAIN!
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Hi Fellow traders
I am trading with hotforex from 3 years. I thought to give my reviews again, during my trading with hotforex, i used to have issues with them,every broker has issues but good thing with hotforex was that they used to care for their clients and always step up to sort out this issues but this is not the case anymore. It looks like they have made much money and don't care for their customers anymore.
My review, observation and personal experience is as follows:
1: Let me start with their claims of being ECN/Stp broker which they are clearly not. They are market makers, another bucket shop to rip your money. What i recently found out that you can't place orders one minute before news, An ECN/STP broker will never put restriction on it. They give you real market conditions.
Secondly you cant place orders between bid and ask price, which is example of market makers not STP/ECN, A market maker will never want you to success, your success is their loss. So decision is yours. :)
2: I always have issues of spillage with them, whenever you close your trade, one or 2 pips goes against you. Sometimes there were big spillages in price, which they fixed it. But even one or 2 pips are enough to less your profit or increase your loss.
3: On one side hotforex claim for so many awards from this industry but on the other hand, they are total failure to provide real market conditions to their clients. Their equity market close 5 mintues before bells rings in USA. So they are nigthmare for day traders like me. When I asked about it, they said, they do it for clients to protect from bad reputation. This is not professional approach as there are all different type of clients, day trader, long term, etc. In this market, even a single second is matter, when they close feed 5 minutes before market close in actual.
4: in past, they also suspended my account when i tried to withdrew money because amount was big, and they used dirty tricks. That matte was solved, but i know how i spent a week in full tension. So they are good, as long as you lost money but when you make money, so there will be many issues. Be aware of it.
5: They dont care for their loyal customers anymore, its very difficult to get hold of their managers or directors who are the decision makers. Companies downfall start when they start to loose their clients, today they are loosing me, i did trading of thousands of lots with them and just in commission, they make 350K plus. But they dont care anymore.
6: They require a lot of paper work when you deposit money with new card, I did deposit very large sum of money with them, but recently they hold my funds for hours at critical time when i need to do trading,due to paper work. They did not care that how much money i deposited and still doubt on my credibility. Thats ridiculous.
I would advise you guys not to open account with them or trade with them, only do if you want to lose your money.
I am going to close my account and not to keep any relation with them because they are proving to be another bucket shop now, who only wants to take your money.
Overall
Hi RoseTrader,
I am using it. The spread are of course not zero, but they are still very competitive. Keep in mind, that you have to pay commission for using those spreads. From my experience it is still worth to use them because even with the fee you will end up having better results than e.g. their VIP account. I think the spreads from FXCM are even better, but for now I am with hotforex.
Overall
I don't have any experience with it however I guess the difference would be is how much commission does it take in the zero spread account,I think some traders would benefit from this more. depending on what pair they are trading and on what time.
Overall
Do you guys happened to have any experience with HotForex Zero spread account? is it really Zero? do they put any commission per any trade instead?
I've just read about it at https://www.brokerviewer.com/hotforex-launched-zero-spread-account/ but zero spread seems weird to me. I appreciate if anyone clarify it.
Thank you
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Account number 269022
Hotforex is a market maker and Scam cheater, no STP broker like they claim to be.
Look at hotforex website, there's no liquidity providers names, I was hotforex client, when I asked account manager about who are hotforex LP's he said can't reveal the names, it's a secret!!!
How can't a client know who are the LP's of his broker when hotforex claim to be STP!!!
Hotforex scammed me $15000 after leaving my account to negative balance, how can an accoun run on negative margin!!
hotforex didn't apply its margin policy and hotforex gave me in one account $136000 of bonuses when hotforex bonus policy states $30000 is the max. per account.
Hotforex cheat investors by claiming to be STP but hotforex is giving market maker service.
Hotforex must be punished by regulators CySec and FSA Mauritius.
Stay away of the SCAM hotforex.
Overall
Excellent broker, promotions and Service good. Getting withdrawal quickly...
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How is their PAMM management service? Is it profitable?
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I traded with this broker, had some little delays with withdrawal processing but in general is a good brok, am advising it to try ))
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Withdrawal problem with 58.000 USD, waiting 3 weeks.
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HotForex scam me, and don´t like pay me 15.000 USD of profits that i take with scalping EA. This is a Market maker and not real ECN :-(
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Steve, have you raised this issue with Forex Peace Army? They may be able to help. Would be very interested in learning more about how they conclude that you have "violated" trading terms and conditions. Please spill the beans!
Regards, Gary
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I've been trading with Hot Forex on and off for a while now. The other week they accused me of using practices that violated their trading terms and conditions and took the whole of the profits I had made with them off me. Including the profits made before they accused me of violating their terms and conditions.
Fundamentally I believe they are a broker who are not interested in clients that make money and would avoid trading with them.
Best regards Steve
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He
can you recommend me which HF accout is better for trading? I can't decide between Premium or FiX ?I prefer scalping and swing trading. Thank you for tips.
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I work in Hotforex from last 15 month I am very satesfied with there services and withdrawl.
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The Best Forex Broker...
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Can anyone tell me what is the spread like when it is FOMC and NFP time?
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So far I have started with HotForex being quite smoothly, have yet to start withdrawal but the e-wallet is very useful when allocating profits into one and control our money management. I certainly hope hotforex will carry on with its honesty, openness and transparency to their clients...keeping this a very good broker reputation. :)
