HotForex Discussion

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quote The brokers cost with disperse and comission is only part of the picture here. Actual bucketshops promote that but don't live up to it. Just like Corre71 mentioned in his last post. It willn`t matter what Hotforex promote as their spread, provided that they manipulate the actual trading requirements. As I posted, the actual acid test is exactly what they do when a trader is profitable with them. For me they failed to answer my own questions about what had occurred with the information feed I received from them. Their customer support were unexpectedly awful. I knew that it...

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once I see something fishy in a broker I never claim, But simply quit trading and take my own funds back. What must be clear is that HF is a pure market maker and when U try to scalp with them with fast trades, they respond with nasty digital trader plugins. Am not the first noticing this

I received this information from HF

The reason for my calls and also this email is to express my concerns in relation to the equity of your account. On Friday night after the market will shut the leverage for all the GBP currencies will be deducted to 1:25 and also for all the other currency pairs to 1:50 because of the British referendum. It appears your account is tremendously exposed at the present time so I will suggest you to take the necessary measures in order to protect your account.

I stay at your disposal if there is anything that you need.

I have some some hedge orders available but the short and long lots are not matching at this moment. If I balance short and long transactions will this leverage change impact for my current open orders ?

Think about this:

You Conduct a Market Maker brokerage. You've got 1000 customers. They All have deposits. Prior to a huge event you sit with the risk. They are able to restate loose than what is on their accounts. If they are right about the leadership following the event, they can win a great deal more than they risk loosing.

In example: Trader A has 100 USD in his account. If he's wrong with the management of the market following case, he might loose 1000 USD. However as a market maker you may face challenges getting him to cover the last 900 USD. When he's correct with the leadership, he will expect you to cover him the 1000 USD he's won out of you.

Let's say your customers is split 50-50 percent about the direction following the event, using their positions on the market. If the event is big enough you will have a negative risk to reward as broker.

A non market-maker broker migth rather give good advices or warnings to their customers, to assist them through the event. Whilst a market-maker is going to have to stick to these measurements as you mention to level the risk in play. .

Only my thougths.

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Consider this: You run a Market Maker brokerage. You've got 1000 clients. All of these have small deposits with you. Before a big event you sit together with the risk. They can`t loose more than that which is in their accounts. If they are right about the direction after the event, they can win much more than they risk loosing. For instance: Trader A has 100 USD in his account. If he's wrong with the management of this market after case, he might loose 1000 USD. However as a market maker you will face challenges getting him to pay the last 900 USD. If he is correct...

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Thank you for the advice, will that leverage change impact my currently opened trades, I have long and short trades but these brief and extended lots are equal

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quote Thank to the advice, will that leverage alter effect my currently opened transactions, I have short and long transactions but those short and long lots are equal

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Depends of you equity. You'll need new margin cease call (10% in micro ) for dont blow off your account. Evident you may place more in this situation for spreads and others things...

I received this answer
I'm not really sure if this will help. By changing the leverage of the account the margin requirement will change and there fore the stop out level of the account. So you need to be sure you have enough equity in your account once the changes are going to take place.

This seems not acceptable becoz when we deposit $10 with there 1:1000 leverage. We can start a trade with lot 0.01, but after we start transactions should they alter the leverage to 1:25 it will close our all transactions https://www.forexforum.co.za/attachments/1525849149.jpg

is another brokers also reducing there leverages similar to this, as I see another brokers only changing their margin amounts not the leverage

I dont know, I mean sick just stay out of the market in order for this to pass, never was a lover of news and it just creeps me out. best of luck

Anyone worried about this movement?





We are pleased to inform you that HF Markets (SV) Ltd, a Company incorporated in Saint Vincent and the Grenadines, is currently part of the expanding HF Markets Group. Expansion of the HF Markets Group, effectively allows us to continue to supply our customers increased flexibility in Forex Conditions and a wider range of services in order to accommodate all of their trading needs.

With regard to the above, we'd like to notify you that your myHotForex account will be moved out of HF Markets Ltd to HF Markets (SV) Ltd, yet another investment company inside the HF Markets Group, with enrollment number 22747 IBC 2015.
The process of moving your account(s) begins on Saturday, 25th June 2016.

Hotforex should boost execution/conection/clearfedd it hasn't been following the contest (brokers).

Vacaciones culturales, very good vaions next week.
https://www.forexforum.co.za/attachments/1525849149.jpg

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Anyone concerned about this movement? We are very happy to notify you that HF Markets (SV) Ltd, a Company incorporated in Saint Vincent and the Grenadines, is currently part of this expanding HF Markets Group. Expansion of this HF Markets Group, effectively lets us continue to provide our customers increased flexibility in Forex Requirements and a wider range of services in order to accommodate all their trading needs. In regard to the above, we would like to notify you that your myHotForex account will be moved out of HF Markets Ltd to HF Markets (SV)...

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They have new regulation in South Africa, I think its now much better than offshore.

What new law?
What's the distinction between licensed and registered?

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what new law? What is the difference between licensed and registered?

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Check their site, I've also got a newsletter concerning regulation update.
Regarding regiion and regulation I assume there is a substantial difference between both as enrollment is no more than a formal notifiion you're acknowledged by a watchdog and permitted to offer services, while regulation means you are responsible for supplying service in line with this regulator rules and will be fined appropriately in case of violations.
So HF obtained regulation (permit) from South Africa expect their services will enhance also.

From what I know Hotforex is governed by Cysec Cyprous. Probably HF has multiple labs based on the several areas of the clients?
I did not obtained from them any email regarding this, likely because this change do not influence EU clients?
If yes (and could be strange because I did not received any email about this), the change from Cysec regulation (a regulation that honestly I do not like in Any Way, but anyhow a MIFID compliant regulation) to South Africa regulation cannot be considered as a positive entity

Seems strange, cuz when I am broker, I still wish to ship for all customer about my inclusion of license, no matter if it's helpful or not with existed customer. Did you check your junk box?

I guess if this broker has enlarging its operations then it's a fantastic news for us that our broker is worried about their and their customers expansion. Let hope that each trader should find the exact same degree of esteemed services in future by them.

I dont believe its a switch, it may be an additional license/regulation for customers in the southafrican area, the more the marrier. .

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Sounds strange, cuz if I am broker, I wish to send for all client about my addition of permit, no matter if it is helpful or not with enlarged client. Did you check your spam box?

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I got their email though I'm not from EU. Anyhow the news are available on their website.
Btw I made a little research on SA financial regulation and it appears quite reliable. Hope they will keep the level of the trading solutions.

There has been signals that Europe will tighten regulation. This could lead to a lousy regulation like CySec in Europe, which untill now is a good spot for bucketshops to sort under, won`t be attractice anymore. Since they need to actually do what they are supposed to do, regulate and balance the relationship between the broker and the client.

If this is to become authentic, we will see alot of brokers running from CySec to offshore regulations. .

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There has been signs that Europe will tighten regulation. This could cause a bad regulation like CySec in Europe, which untill now has been a fantastic spot for bucketshops to form beneath, won`t be as attractice anymore. Since they will need to do what they are supposed to perform, regulate and balance the relationship between the broker and the customer. If that is to be true, we'll see alot of brokers running from CySec to offshore regulations. .

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There is no regulator in the world that could eradie shady sophistied methods of forex brokers, because of the bad character of forex (no clearing centre, access limits etc.) Second, I doubt that they will expose themselves in such stupid manner. Better and simpler to accommodate under new rules and restrictions rather than get flagged as a scam broker by changing the regulation. .
My two pennies.

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I dont believe its a change, it could be an added license/regulation for customers in the southafrican area, the more the marrier. .

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How many licenses does hotforex have so much? From what I know is FSB and CySec? Any else?

I have read a couple of pages in this discussion, please, someone has lately made deposits and withdrawals through NETELLER or Skrill this broker? How would be the processing, smooth and fast or have some problem?

I use skrill, I have been using them since the moneybooker days, it was a bit slow a couple of years back and im talking about moneybookers, but for this season 2016, everything appears smooth, usually, I use exactly the skrill debit card to get my cash, can say much about trasfers from skrill to local bank account, the 1 disadvantage of these money processesing companies I would state the dollar/euro conversions, its a bit off. . Over all I could safely secure skrill gets a 8/10 maybe no matter with the procedure and time quite excellent.

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I utilize skrill, I have been using them because the moneybooker days, it was a bit slow a couple of years ago and im speaking about moneybookers, however for this year 2016, everything seems smooth, usually, I utilize exactly the skrill debit card to receive my money, can say much about trasfers from skrill to local bank account, the 1 disadvantage of those money processesing companies I would say the dollar/euro conversions, its a bit off. . Over all I can safely secure skrill gets a 8/10 maybe no matter with the process and time really excellent.

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Yes I agree, I also like to use Skrill method including the Debit Card, (in July in my nation will have a shift to a commission for withdrawal at ATM is $ 4.00 EURO or equal, today the rate is 1.70 % of each withdrawal).

I don't like the conversion rate used by Skrill, but unfortunately I think there is nothing we can do, please, you utilize Skrill specifically with HotForex?

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I have read a couple of pages in this conversation, please, somebody has lately made deposits and withdrawals through NETELLER or even Skrill this broker? How are the processing, smooth and fast or have some issue?

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Top-up Immediate, withdrawal 1% fee, same as everywhere. Have not had any problems.

Leebsurag: '' I didn`t have the identical experience with Hotforex because you did, this is my article from July last year, at page 28. I believe it's post 545. I still have all of the screenshots from the episode, showing everything I assert. When I suddenly had to await their customer chat and so forth.

I would warn other traders about utilizing Hotforex as their broker. It's a huge bucketshop in my books. You recommend them all over the forum, other members also encountered poor experiences together.

The acid test is if you earn money or not from them. If you fulfill their pockets they will give you the best of support, why shouldn`t they, you're making them wealthy. Read what I wrote about getting my funds back. They delayed it, I needed to call to Cyprus to get it back. Not top-up instant in my books either.

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That is my experience with Hotforex and I quit using them. I want to underline that I was a little customer with only a small deposit together. The very first time I used them I lost money together. Around 6 months later I opened a new account together. I was a satiesfied customer. I received great service whenever I was in contact with them. Their answer to the chat was always fast, it was a matter of seconds before they replied. Now I was making money instead. Matters lasted a few months. I was in contact with them a couple of occasions regarding...

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quote Yes I agree, I like to use Skrill process such as the Debit Card, (in July in my country will have a shift to a fee for withdrawal at ATM is $ 4.00 EURO or equivalent, today the rate is 1.70 percent of each withdrawal). I do not enjoy the conversion rate used by Skrill, but unfortunately I think there is nothing we can do, please, you utilize Skrill specifically with HotForex?

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Can we conserve using Skrill or Bank Wire for withdrawals? I am planning to start an account in HotForex. I am new in trading and have not attempted skrill and bank wire.

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I have read a few pages in this conversation, please, somebody has lately made deposits and withdrawals through NETELLER or even Skrill this broker? How would be the processing, fast and smooth or have some problem?

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Same question, I have used Skrill for quite a while and there were some issues which I thought I should try out another payment processor similar with Skrill as Neteller.
Regarding Skrill, it is good for anyone to use for withdrawals from this broker. 24-hours processing and no commission (just Skrill charge you for receiving money).

This is my setup,

I have a verified skrill account connected to your local bank account, so you need to register a skrill account and confirm everything before anything else.
I also obtained their dbit card, I think its like 29usd annually, im not sure what you mean by saving, but skrill isn't hard to use for withdrawals and deposit, usually I only transfer the funds to skrill and withdraw it using a debit card or make a move to a local bank account.

But before everything else be sure to have your fair share of demonion, and in the Event That You really Opt to go then take it easy and one measure at a time, best of luck

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quote Could we save using Skrill or Bank Wire for withdrawals? I'm planning to start an account in HotForex. I'm new in trading and have not attempted skrill and bank cord.

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Depositing funds in hotforex via skrill are instantaneous and withdrawal is also processed within one business day. However, I don't have any notion of cable transfers with hotforex and can suggest you checking it from their customer care.

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quote Depositing funds in hotforex via skrill are instantaneous and withdrawal can be processed in one business day. However, I don't have any idea of cable transfers with hotforex and can suggest you assessing it from their customer support.

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thanks

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this is my setup, I have a confirmed skrill account connected to a local bank account, so you've got to register a skrill account and confirm everything before anything else. I also obtained their dbit card, I think its similar to 29usd yearly, im not sure what you mean by conserving, but skrill isn't hard to use for deposit and withdrawals, usually I just transfer the money into skrill and draw it using a debit card or make a transfer into a local bank account. But before everything else be sure to have your fair share of demonion, and if you truly decide...

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Thanks. Anyway, what I meant about save is which procedure has lesser fees in terms of withdrawals. Utilizing Skrill, or using Bank Wire.

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leebsurag: I didn`t have the exact same experience with Hotforex because you did, this is my article in July last year, at page 28. I believe it's post 545. I have all of the screenshots in the incident, revealing everything I claim. When I suddenly had to wait for their client chat and so on. I'd warn other traders about utilizing Hotforex as their broker. It's a huge bucketshop in my own books. You urge all of them over the forum, other members also encountered bad experiences together. The acid test is if you make money or not from them. Should you fill...

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I totally agree with you. I needed to close also my 2nd account at Hotforex due to a nasty plugin. HF is a pure market manufacturer and if you've got a profitable Forex egy with transactions lasting few seconds (no arbitrage) there is no way they enable u to profit, once they detect this. I saw several time transactions at 3 pips profit suddenly closed at 1 - two pips loss. If they are unable to market your transactions the most effective plugin existent in the market is switched ON. If u eliminate money or maybe if ur transactions have a long duration u are the very best client for them. If u wish to scalp, better not to look at HF. They are master in the art of plugins

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quote I completely agree with you. I needed to close my 2nd account at Hotforex because of a nasty plugin. HF is a pure market maker and in case you've got a profitable scalping egy with transactions lasting few seconds (no arbitrage) there's no way they enable u to profit, once they notice this. I saw several time transactions at 3 pips profit abruptly closed at 1 - 2 pips loss. If they're unable to market your transactions the most efficient plugin existent in the market is switched ON. So if u eliminate money or perhaps if ur transactions have a long duration u would be the...

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Thank you for sharing your exerience. I see you're profitable trader, that's not. With a sharp ratio of over 4 you are probably a nightmare for bucketshops. They might have to adhere to foul play to get rid of you.

The members here posting about Hotforex for a top-notch broker, are totally clueless or working for Hotforex. Most probably the latter. No additional members on this forum has this large a proportion of posts where they speak positive about at broker. The you'll see at other websites, such as Baby pips and so on.

It is a component of their marketing egy I suppose...

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quote Thank you for sharing your exerience. I see you're profitable trader, that is not the client they want. Having a sharp ratio of over 4 you're probably a nightmare for bucketshops. They will have to adhere to foul play to get rid of you. The members here post about Hotforex to be a top-notch broker, are either totally clueless or functioning for Hotforex. Most likely the latter. No additional members on this forum has this large a percentage of posts where they talk positive about at broker. Exactly the same you will see at other sites, such as Baby pips...

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What broker are you using for Foreign Exchange?

I'm not here to advo brokers. I can provide you an advice for what to look for when choosing a broker.

My starting point is that most retail Foreign Exchange brokers aren't worth using. Still there are some around. Should you insist on trading Foreign Exchange, then you must start to search for these.

Use your common sense. The best ones are often the ones you don`t hear often about.

Why? They really don`t need to advertise their offerings to get customers. Those with experience or have connections in the business will be directed towards them anyway.

There's no thing such as a free-lunch. Forget about bonuses, homesites wich appeal to your emotions about quick/big money, with images of automobiles, women and luxury. They appeal to your dre/emotions not your motive. High leverage is generally a big NO for seriousness. All this would be to draw the newcomers.

I have been argumenting for picking a broker with a good law, this is my initial beginning point. Even this isn't a guarantee, It is a start. Good regulations are also far between. FCA is my choice for a strong regulation. Still, don`t blindly select a broker from this law. Bad fruit on this tree too.

Sadly enough the majority of the adequate retail brokers requires a greater deposit. If they're to only earn from commission and spread that this is understandable.

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I'm not here to advo brokers. I can give you an advice for what to look for when selecting a broker. My starting point is that most retail forex brokers are not worth using. Still there are some around. Should you insist on trading forex, then you must begin to look for these. Use your common sense. The best ones are often the ones you don`t hear often about. Why? They really don`t need to promote their offerings for customers. The ones with experience or have relations in the business will be directed towards them anyway. There's no thing such...

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Absolutely amazing article! Congratulations, Mr. Decima...https://www.forexforum.co.za/attachments/1525849554.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.pnghttps://www.forexforum.co.za/attachments/1525849555.png

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I'm not here to advo brokers. I can provide you an advice for what to look for when choosing a broker. My starting point is that most retail forex brokers aren't worth using. Still there are some around. Should you insist on trading forex, then you must begin to look for these. Use your common sense. The top ones are often the ones which you don`t hear often about. Why? They really don`t need to advertise their offerings to get customers. Those with expertise or have connections in the business is going to be led towards them anyway. There's not any matter such...

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Thank you for your information.

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Originally Posted by ;

I am not here to advo brokers. I can provide you an advice for what to look for when selecting a broker. My starting point is that almost all retail forex brokers aren't worth using. Still there are some around. Should you insist on trading forex, then you must start to look for these. Use your common sense. The best ones are often the ones you don`t hear frequently about. Why? They really don`t need to promote their offerings to get customers. The ones with experience or have relations in the industry is going to be directed towards them anyhow. There's not any thing such...

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People who have adequate experience understand what to look for, cuz they know exactly what they NEED. Saying you require tight spreads and quick execution you say nothing because each broker promote that. Try several bucketshops to understand what actually you're looking for, because everything is getting know by comparison.
IDK but speaking about HF I will say it fits the bill in terms of MY trading requirements. And it doesn't mean it will necessarily satisfy different traders. .

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I have read a couple of pages in this discussion, please, someone has lately made deposits and withdrawals through NETELLER or Skrill this broker? How would be the processing, smooth and fast or have any issue?

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I utilize Skrill (moneybookers) all of the time and also my hotforex withdrawals are often processed under 24 hours... here's screenshot = http://photoshar.in/hotforex-multiple-withdrawals

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quote Those with adequate experience understand what to search for, cuz they know what they require. Saying you require tight spreads and fast implementation you say nothing since every broker advertise that. Attempt several bucketshops to realize what really you're looking for, because everything is getting know by comparison. IDK but speaking about HF I can say it fits the bill concerning MY trading demands. Plus it doesn't mean it will necessarily suit other traders. .

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The brokers cost with spread and comission is simply part of the picture here. That is advertised by bucketshops but fail to live up to it. Like Corre71 mentioned in his final article. It doesirrespective of what Hotforex advertise as their spread, provided that they manipulate the real trading requirements.

As I posted, the real acid test is what they do when a trader is profitable with them. For me they failed to answer my own questions about what had occurred with the information feed I obtained from them. Their customer care were unexpectedly awful. I knew it was time to proceed to another broker after my episode with them.

For me and many others as well, they failed miserably. You mention experience, well this is a portion of my experience as a trader. To have coped with a bucketshop and to have the ability to recognize it. They are by far not. Still, because some members in the forum have an agenda to urge them all over the area, I feel obliged to share my experience with them, to warn others which Hotforex might be as rosy as some claims it to be.

After all this is a forum, where we discuss knowledge about trading and the business. You and I disagree about Hotforex, that is respected by me. I am only balancing the image here.