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Author Topic: HotForex  (Read 287720 times)

Offline CAJUN

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Re: HotForex
« Reply #15 on: December 05, 2010, 11:03:41 AM »
hey CAJUN,  does your IRS know about this secret offshore investment !..LOL..

Shhhhhhhhhhhhhhhhhhh, ;) if i go to jail i know i want be the only one. I don't think the US has enough jail space left to put all of us going offshore.


rgmann,
Wow great info, thanks, i agree that they are registered because i have been communicating with them for a week and they sent there registration number in on of there emails.

RahmanSL,
You have a good point there, could be very easy to put money in but a nightmare to withdraw, although i have read some threads that some people have nightmares drawing there funds from US brokers. I also noticed you made the same comment on other broker posts.
Could you tell us which broker you are using, and have you withdrawn money from them yet?

CAJUN
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Offline Vinny

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Re: HotForex
« Reply #16 on: December 05, 2010, 11:29:18 AM »
CAJUN,
You can always move to Europe :) :) :) :) You'll have better trading hours as well :D

Cheers,
Vinny
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Offline hammy

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Re: HotForex
« Reply #17 on: December 05, 2010, 04:38:27 PM »
Hey guys, I'm just saying , be careful, don't deposit a large amount of your money to test out their live account.

HotForex is regulated by the FSC in Mauritius ? in Mauritius ! so what !
They are NOT "registered", only regulated by their own Republic, there IS a difference... :-\
Read the Regulated Disclaimer on their website .. ::)
 
If you find a IB that will support them, then that is a good sign !..but that's "if" .. :-\

Otherwise I'm just saying ..be careful ! .....and good luck !.. ;)

Offline Vinny

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Re: HotForex
« Reply #18 on: December 05, 2010, 05:07:21 PM »
You are right hammy,

We will see how it goes. As I've said in one of my previous posts I will keep everyone here informed.

P.S. In my communication they say that clients funds are placed in "independently administered segregated accounts". We will see can't tell yet, but I hope I will get that confirmation tomorrow.
« Last Edit: December 10, 2010, 10:15:29 PM by Vinny »
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Offline Istherehope

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Re: HotForex
« Reply #19 on: December 07, 2010, 12:35:13 PM »
I am considering opening a small account with Hotforex or ThinkForex to test the waters.
I also noticed nobody withdrawal the money from their account on Forexpeacearmy reviews.

They both state you can withdraw using Credit/debit card which is convenient but I am somehow waiting for a "betatester" before I departure with some monies ::)

Offline robl45

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Re: HotForex
« Reply #20 on: December 07, 2010, 02:19:14 PM »
does hotforex take us customers? thinkforex told me they wouldn't.  well apparently if you have 10000 or more, they might do it, if you call them and do the supersecret handshake. (not even kidding about the last part)

Offline CAJUN

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Re: HotForex
« Reply #21 on: December 07, 2010, 05:50:07 PM »
There is thread on FPA that said they withdrew money and it was the easiest and fastest withdrawal they ever did with any broker.

Robl45, yes they do take US customers, i have been communicating with them for over a week asking questions and that was one of the questions. Minimum deposit is 500 usd.

CAJUN
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Offline rgmann

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Re: HotForex
« Reply #22 on: December 07, 2010, 08:51:20 PM »
My only complaint so far is that their "dynamic" spread on the EUR/USD has been well over 3 for the past few days (they advertise a Min of .2 and Typical of .8 ). And one of my primary bots, the EA Shark 6.0, won't open any trades if the spread is above 3. So I may have to switch to a broker that has "fixed" spreads, such as Tadawul instead. I'll have to see how it goes over the next week or two, and hopefully I won't have any problem transferring my money if I decide to open an account with Tadawul. I'll keep everyone posted...

Roger

Offline Vinny

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Re: HotForex
« Reply #23 on: December 07, 2010, 08:54:09 PM »
Guys if you can wait a little bit more I think we'll have everything done! I've been over the phone and chat all day long with reps from all of their departments.

So far I can see that they have department in Cyprus. Registered IP addresses, Registered phone lines and supporting quite a lot of languages. Quick support team.

Everything seems to be fine. If there is any problem with the rebates procedure I'm ready to go directly to the CEO and discuss everything, but I think we will have a success there.

I will keep you informed.

Cheers,
Vinny
« Last Edit: December 10, 2010, 10:16:17 PM by Vinny »
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Offline Vinny

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Re: HotForex
« Reply #24 on: December 07, 2010, 08:55:36 PM »
My only complaint so far is that their "dynamic" spread on the EUR/USD has been well over 3 for the past few days (they advertise a Min of .2 and Typical of .8 ). And one of my primary bots, the EA Shark 6.0, won't open any trades if the spread is above 3. So I may have to switch to a broker that has "fixed" spreads, such as Tadawul instead. I'll have to see how it goes over the next week or two, and hopefully I won't have any problem transferring my money if I decide to open an account with Tadawul. I'll keep everyone posted...

Roger

I'm going to report your issue tomorrow and let you know what stands behind it.
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Offline Vinny

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Re: HotForex
« Reply #25 on: December 07, 2010, 10:37:44 PM »
-
« Last Edit: December 10, 2010, 10:16:33 PM by Vinny »
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Offline rgmann

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Re: HotForex
« Reply #26 on: December 08, 2010, 08:16:00 AM »
I'm going to report your issue tomorrow and let you know what stands behind it.

Thank you very much, Vinny. I've been meaning to contact them myself, but I've just been too busy the past couple of days. By the way, my HotForex demo account is doing GREAT, as the spread on the EUR/USD there has consistently been around 1 to 1.5 pips. So the EA Shark 6.0 has been making a number of trades that my live account has missed. The stats for my demo account are here.



If this spread issue gets resolved, I plan to use you as my IB. I'll PM you about that once I find out what's going on. Otherwise I'll probably switch my live account to Tadawul FX, as they offer a fixed 2 pip spread on the EUR/USD, and I won't miss any more trades. If you are an IB with Tadawul, I'll sign up through you if I decide to switch accounts. Just let me know. Thanks again for your offer to help!

Roger

Offline hammy

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Re: HotForex
« Reply #27 on: December 08, 2010, 01:48:02 PM »
rgmann,

If you switch to TadawulFX, I can attest to you that they are a very good broker, I've had a live account for a few months now. They have fixed spreads and many good options for deposits and withdraws. Aslan Group is my IB with them and pay $6 per std lot, pretty hard to beat !

cheers !.. ;)

Offline robl45

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Re: HotForex
« Reply #28 on: December 08, 2010, 01:52:16 PM »
tadawul is fixed spreads, that is nice but they filter their feed and you will miss trades.

Offline robl45

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Re: HotForex
« Reply #29 on: December 08, 2010, 01:53:06 PM »
how are the spreads on the hotforex ecn commission based platform?  iv'e been watching the demo on hotforex standard and collective is continuously beating them on spreads.

 

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