U.S election is coming so maybe the broker couldn't maintain normal services. We ought to consider avoid trading within this time. I just got notifiion email. Wonder if this broker could stop the server throughout the election?
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U.S election is coming so maybe the broker couldn't maintain normal services. We ought to consider avoid trading within this time. I just got notifiion email. Wonder if this broker could stop the server throughout the election?
I still found 2016 much profitable for me than the previous one yet I have ceased trading as I have a feeling that the market may went crazy due to US elections and new year holidays season, I guess many traders are also spending time with their families during holidays (this month and december) instead of trading.Quote:
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What do I continue to state:
It is verified that Hotforex asserts normal trading criteria without great hints, always in front with all the aggressive brokers who are also many and great.
Good trades Traders.
Waiting for the Decima to shout that the subject is flooded with broker reps praising trading with Hotforex https://www.forexforum.co.za/attachments/1525354108.jpgQuote:
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1) Well, I've attempted to point my encounters with Hotforex. It was bad. Far from what you claim. It's important to balance the false rosy image someoneQuote:
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using a conflict of interest is attempting to paint. Others on the forum have claimed the same. I will take some opportunity to go through the thread. We can make a count. .
2) Also I've posted news about Hotforex beeing fined from CySec for what I'd describe as beeing a bucketshop. Important details.
3) Also I pointed out that representatives from Hotforex have acted closely with respect to the global anti-laundering rules, on those forums..Says a lot. .
4) I've pointed out that CySec is a bad regulation. Look at Iron FX..Important to consider.
5) I've pointed out there isn't any objectivity from a number of those forum members always giving unjust advices and safeguarding Hotforex. You specifically. .
The sum of this, that not one of you bother to consider or answer what's cited above. The eye against it turns. It will make you curious about if it's some truth behind it. That's the rationale behind my position, there are quite a few accounts on this forum managed by someone who has an interest in marketing Hotforex.
It will be totally worth the little time I spend on those forums. If this information may result in a new trader reconsidering opening an account with them. Work Time and money better spent another broker.
So back my advice, do not use Hotforex as your broker. Choose a FCA broker rather.
Im kinda curious. . Lets put it this way, point me out ideal broker. just one. . I guarantee you there'll be noninvasive, hotforex or not it doesnt matter, a few traders may have any bad blood in other terms that I call it bad beats. And yes I do have my share of it. . Lets just say its traders and the market in the end, if you inform me you are earning well with who broker you are working with now, ill be truthful and be happy for the success. Coz thats the battle we traders undergo, in the end its good enough for me. Reminds me of TRUMP all that BS about him yet there he's the NEW president of the united nations of A. haha and who know it might just do the job for them. Trust me we've seen lots of, and coz from the perspective of users, its like you are a war, on a vendetta. . Take it easy I can call out 6-9 brokers with a lot worst instances yet you wont find me doing. .
I have an account in hotforex.com
My account made profit more than twice after one week.
One day before US election as I knew Japanese Yen would power I have market GBPJPY and also at 00:02 server moment suddenly I noticed that all my transactions have been closed.
There wasn't any sever fluctuations on price, suddenly I detected large and unreasonable spread and just on the the pair of the own positions! It is clear in the image that I provide.
My evaluation and forecast are completely correct and should the broker would not margincall me, it would terminate to 30k $ profit in under 4 hours.
I have whined to hotforex through email. Their first answer was presidential election spread ... I replied 24 pips widening isn't acceptable even for us election.
After more following out of me they replied they get the prices and spread directly from liquidity providers with no interference, and so I answered I am hotforex customer and have contract with hotforex rather than liquidity providers so I can not complain.
So this is my question , are brokers permitted to boost spread as wide as they want with any excuse which they want and consequently margincall the customer account? Are they permitted to use something like US election as a justifiion? Are they permitted to say they get the price and spread from liquidity providers to escape of changing prices on their own so they don't have any responsibility?
As a professional trader I have approved all the Forex deal risks but sadly with this type of brokers and all the nature risks in this market we ought to wait for additional factors to lost our deposit.
I'd appreciate if you know a way to complain about this fraudulent broker kindly allow me to know.
Thank you.
https://www.forexforum.co.za/attachm...8463274325.jpg
Make sure that you aware that Non-UK and EU traders are not qualified to enjoy FCA security as a FCA regulated entity of a broker just simply opens a doorway for UK and EU market. If you are not in the counties I mentioned above any FCA brokers discussed there'll have you enrolled with their offshore division.Quote:
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If you desire higher level of security be sure you moved to UK or EU initial https://www.forexforum.co.za/attachments/1525354109.jpg
Regrettably, it is normal spread at night hours when liquidity is at the lowest level. Look at two screenshots from myfxbook.com from Pepperstone and LMAX. Especially when US election should expand spreads more, you made horrible mistake. However, it's rather good idea to change broker on never market maker FCA and ASIC protected.Quote:
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https://www.forexforum.co.za/attachm...1133799944.jpg
https://www.forexforum.co.za/attachm...3816912151.jpg
All traders are protected by FSCS compensation scheme. If you figure out how to open account with FCA regulated broker you're securehttps://www.forexforum.co.za/attachments/1525354112.pngQuote:
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not exactly per state. Its tricky if a broker has multiple licencing. Some have FCA licences but don't have FSCS scheme. In case their HQ is in cyprus. It still falls under the payment of cysec scheme, maybe not FCA's.Quote:
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Ideally like banks, together with brexit putting an end to passporting of licences, brokers will be forced to be more transparent.
Everybody wants to begin trading. But the most important thing to do is to get someone familiar to proceed thru the broker's PDS/FSG with you in detail clarify every nook and cranny with your broker via writing. Make certain to maintain a copy of the correspondence as evidence should the need arise.
Yes, it's correct, but there's always information that customers are protected by FSCS or other Malta or Cyprus scheme. Normally some brokers are REGULATED by CySEC and in addition REGISTERED in FCA and in such a instance it means actually nothing to get traderhttps://www.forexforum.co.za/attachments/1525354112.png FCA will not care about you whatsoever. It profit for broker, since it seems better and some customers do not get the distinction.Quote:
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Seems you don't get the point raised by Bicarus.Quote:
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A permit doesn`t mean a thing.
It's the jurisdiction/regulation the broker is governed by that's important. Brokers flashing licenses as a big deal, is trying to give securities. They understand it willn`t mean a thing.
When you start looking for FCA protection, your broker needs to be controlled by the FCA. If your broker falls under two regulations (one FCA) make certain your account is benefitting from the FCA protection.
Some members of this forum is misleading additional, by claiming the following:
you need to be an British or EU citizen to benefit from this FCA protection. This is absolute bullshit. I've pointed this out to the forum member earlier they continue to make these claims.
Leebsurag, challenge: Contact FCA and ask if non British or EU citizens will benefit from the FCA regulation if they are customers with a broker that falls under FCA regulation. Come back to this forum with your answer.
Good that you made this post, so I do not have to write it longhttps://www.forexforum.co.za/attachments/1525354112.png All traders out of all of the round the world are protected by FSCS should they figure out how to open account under FCA regulated broker, but remember that brokers have branches, so choose UK branch, not Malta or Cyprus or whatever else in the event that you want to be protected from FSCS... For instance you'll be able to open account in FxOpen that is registered in Nevis or regulated by ASIC or governed by FCA, three distinct sites.Quote:
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Well I partly agree with you, but lets have a peek at bankrupt Alpari UK which was under FCA I've some trading fellows on forum still hoping to recover their funds from there. They are from Spain, btw.Quote:
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We all known that laws and promises in theory and practice can be quite different. .
The Alpari incident I have first hand encounters with, from several clients of Alpari. I would say the Alpari incident is a proof of why you should opt for a FCA controlled broker. They got their money back.Quote:
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?
Sure, they needed to wait around for a while. Still, in the end they obtained it.
Challenge, no 2: Give us a regulation that could have passed the Alpari incident better than the FCA actually did? Please elaborate/explain why you believe this regulation could have functioned.
Still awaiting the end result out of challenge no 1....You produced the promises, now you can back them up...
First opinion: we are not on disagreements, its a peaceful discussion where I find dubious to demone something to the person I even don't understand! We describe our expertise and all expressing our views. Unfortunately you're currently currently trying to shift away from this into attempts to convince somebody or me that your experience or point of view is somehow more valuable or more appropriate than others. Its egoistic and disrespectful to other forum members, I would say.Quote:
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We all understood trading is about making money whereby its potential - FCA, CySEC, offshore brokers etc.. Not your favorite arguments.
Second, the fact is that the guys are still waiting, almost two decades passed. And despite the assurance that is naive its unknown if they will get their cash back. And I do not have to get in contact with any labs to get their formal replies. Than they are unsure if they could ensure investor protection who will respond me? So sorry, you challenge doesn't make a sense.
And I reiterate, laws in theory and practice work distinct.
The only challenge I take is that market casts to me https://www.forexforum.co.za/attachments/1525354112.png
Look mister, you have a lot of times on this forum maintained that non-British and non-EU citizens won`t be protected/compensated by the FCA, even though they are customers of a FCA controlled broker.Quote:
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That is misleading info. I've pointed out this to you before. Still you keep doing this. So I presume you read English as 12, you write in English. YOU ARE Mistaken. You should seek out this information on your own. It may expand you perspective/horizon. If you are a trader, it may help you.
The Alpari episode is nicely covered. If your friends hasn't got their money back and are eligible for compensation. They have an excellent situation within the system that is british. Based on the trustworthiness of your asserts that are former, I doubt that these instances excist. It is too easy to come up with false claims in forums like this. If they excist create their claims are processed by them simultaneously.
Why are you attempting to talk down the FCA. What interest can you have of accomplishing this? Is it because you really don`t desire unscrupulous traders to understand that they receive a lot more protection from the FCA when compared with this CySec.
Since that is the truth, even though you try to provide impresssion otherwise.
Once we wire straight from broker to neighborhood bank it doesn't cost that much, I suppose skills intermediary bank have some issue with fees. Not certain why they do not proceed to another intermediary bankQuote:
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HF is dealing desk in order that they can manipulate prices around 5-15 pips, I think that it's better use hidden tp sl and restrict stop orders via a expert adviser. If the order stops,tp,limits and ceases visible it have 70-80% chances to be adverse. It is common for all brokersQuote:
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Stay away of cyprus based brokers, all are market makers and cysec is a jokeQuote:
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In Hotforex I Âgot a GBPUSD Non 1.1625, It wiped my account but If I Watch some Additional brokers and myfxbook the Non is around 1.19165 to 1.12 what is the reason for thisÂ
Its a flash Accident on Pound Bloomberg wrote there was a Trade at 1.1378 so I Figure That You were closed at Greater priceQuote:
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You are not alone. Im also with HotForex and I saw on the chart the identical spike heading down to 1.1625. It affected me. What's interesting that in their own charts HotForex Technical Degrees spike gets only to 1.194. It'd be interesting to find out what additional brokers have in their charts (max draw down).
Requirements on Hotforex to your general reports from brokers. Come complaints, individuals have this tendency only speaks when he loses.
Great trades Traders.
What technical Levels are you talking about?Quote:
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Im not sure what he is referring to, but if I may ask about the eurusd? Can it hit the 1.07degrees with in the year? Of wil the elections bring it back up to 1.2?
Yup, that's true. Any experiences you would like to share with the forum?Quote:
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Couple of months old news. Esteemed regulator, though CySec is non. A few fines have been handed out by them.
They've handed out rather harsh review against Hotforex in this example, for justifying his or her penalties.
All new traders should read this report, found from the connection:
http://www.financemagnates.com/forex...sstating-risk/
Quotes from the guide, remember these arguments are the words of CySec:
It was fined in January 2016 for many violations of the securities legislation from the country
HotForex was not #8220;acting fairly, honestly and professionally in accore with the best interests of its clients#8221;. This count is related to the practices of their employees of the company and the terms and conditions That the firm presented to its Clients
unfair, unclear and misleading marketing info
lack of maintenance of an adequate record of client agreement documents
Is there anybody who have an encounter with hotforex? May I have a feedback concerning the instantaneous withdrawal via Neteller with HotForex?
I had no issues with withdrawls to my VISA card within 3 times I found it on my online account , so I guess e-banks would have no issue.Quote:
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Best of luck and green pips to you
Hmmm 3 times to creditcard is good but I need to understand immediate withdrawal through Neteller. Is there anyone with an withdrawal experience with hotforex.Quote:
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Hotforex period is charging more in spreads. It would be great to decrease, not !!!!
Come on you are able....
Good trades
Im unsure about neteller, however when its exactly the same as skrill, then I would say as long as the withdrawal petition is done brofere the said hours, then its bond to be preocessed with at the same afternoon, if im not mistaken as long as withdrawals are procedure before 0700GMTQuote:
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I utilize Skrill with hotforex and always have near instant withdrawals = http://photoshar.in/hotforex-multiple-withdrawalsQuote:
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Any new profit withdrawals you made in 2016? https://www.forexforum.co.za/attachments/1525354444.pngQuote:
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Hotforex service becoming bad today keep having issue . Deposit using card need wait for 3hrs conclusion up my acc blow due to margin call . Hopefully they can improve back.
EURUSD is a roller coster ride, however im still optimistic about this upcoming elections, many state it would draw it lower than 1.05 while others anticipate a return back to 1.2 any penetration?