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Author Topic: HotForex  (Read 287448 times)

Offline Vinny

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Re: HotForex
« Reply #30 on: December 08, 2010, 03:11:54 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.

robl45 if you are asking about the currenex account spreads are between 0-0,2-0,3

Cheers,
Vinny
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Offline robl45

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Re: HotForex
« Reply #31 on: December 08, 2010, 03:34:42 PM »
do we get rebates on that account as well?  and is there a demo do you know?

Offline Vinny

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Re: HotForex
« Reply #32 on: December 08, 2010, 03:40:12 PM »
Yes you can get rebates on the Currenex account.

There is no demo of it though...

If you need any other help feel free to contact me.

Cheers,
Vinny
« Last Edit: December 10, 2010, 10:17:08 PM by Vinny »
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Offline robl45

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Re: HotForex
« Reply #33 on: December 08, 2010, 04:07:36 PM »
commission is 10 dollars per round turn on currenex and maximum is 10 lots, that seems kinda low.

Yes you can get rebates on the Currenex account if you choose me as IB and it is $1.50 per standard lot turn. It is lower because of the low spread.

There is no demo of it though...

If you need any other help feel free to contact me.

Cheers,
Vinny

Offline Vinny

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Re: HotForex
« Reply #34 on: December 08, 2010, 04:22:12 PM »
There is no demo of it though...

If you need any other help feel free to contact me.

Cheers,
Vinny
[/quote]
[/quote]

Commission:    $5.00 per 100.000 USD Traded
Maximum open position:    10 Standard Lots
http://www.hotforex.com/index.php?tpl=article.en&page=en/account-types/currenex-account

That's for the Currenex account.


Cheers,
Vinny
« Last Edit: December 10, 2010, 10:17:57 PM by Vinny »
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Offline robl45

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Re: HotForex
« Reply #35 on: December 08, 2010, 05:25:52 PM »
I was talking about the maximum lots of 10, that seems kinda of low,  can that be increased?  and to confirm, its 5 dollars each side so 10 dollars round turn?

commission is 10 dollars per round turn on currenex and maximum is 10 lots, that seems kinda low.

Yes you can get rebates on the Currenex account if you choose me as IB and it is $1.50 per standard lot turn. It is lower because of the low spread.

There is no demo of it though...

If you need any other help feel free to contact me.

Cheers,
Vinny

Commission:    $5.00 per 100.000 USD Traded
Maximum open position:    10 Standard Lots
http://www.hotforex.com/index.php?tpl=article.en&page=en/account-types/currenex-account

That's for the Currenex account.

They pay me $2.50
When I take in place the transfers fee and pay my taxes I get lower than $0.50 for me :) I think it's fair.

Cheers,
Vinny

Offline rgmann

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Re: HotForex
« Reply #36 on: December 08, 2010, 05:30:53 PM »
Perhaps I'm a bit ignorant on this subject, but I'm not sure how the Currenex account is a better option than the Standard account. The spreads may be a bit lower, but you're also paying a commission on the trades, and the leverage is only 100:1 (300:1 on Standard). So how is that a better choice? What am I missing?

Roger

Offline robl45

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Re: HotForex
« Reply #37 on: December 08, 2010, 05:43:20 PM »
100:1 is pretty standard.  no sense getting used to something that you can't use on a bigger account.  also the lower spreads help with many EA's, sucks to miss a TP by 1/2 pip because of the spread.

Perhaps I'm a bit ignorant on this subject, but I'm not sure how the Currenex account is a better option than the Standard account. The spreads may be a bit lower, but you're also paying a commission on the trades, and the leverage is only 100:1 (300:1 on Standard). So how is that a better choice? What am I missing?

Roger

Offline rgmann

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Re: HotForex
« Reply #38 on: December 08, 2010, 05:48:50 PM »
I'm going to report your issue tomorrow and let you know what stands behind it.

Thanks, Vinny. You must have worked a little magic, as the spread is back down in the low 2s this morning. Hopefully I'll get a profitable trade with the EA Shark 6.0 now!

Roger

Offline Vinny

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Re: HotForex
« Reply #39 on: December 08, 2010, 06:06:45 PM »
I've been in a little battle over there for the past two days.

robl45 I need to check about that with one of their managers that seems to be very helpful and understanding me. He took a look on Roger's account today.

HotForex are working in a little bit different way with their partners, but I'm on my way of making a difference.

I really don't have any problems of talking to their CEO if needed and I will do my best to give you the most you can get.

Cheers,
Vinny
« Last Edit: December 10, 2010, 10:18:26 PM by Vinny »
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Offline Vinny

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Re: HotForex
« Reply #40 on: December 08, 2010, 08:06:38 PM »
I was talking about the maximum lots of 10, that seems kinda of low,  can that be increased?  and to confirm, its 5 dollars each side so 10 dollars round turn?

commission is 10 dollars per round turn on currenex and maximum is 10 lots, that seems kinda low.

Yes you can get rebates on the Currenex account if you choose me as IB and it is $1.50 per standard lot turn. It is lower because of the low spread.

There is no demo of it though...

If you need any other help feel free to contact me.

Cheers,
Vinny

Commission:    $5.00 per 100.000 USD Traded
Maximum open position:    10 Standard Lots
http://www.hotforex.com/index.php?tpl=article.en&page=en/account-types/currenex-account

That's for the Currenex account.

They pay me $2.50
When I take in place the transfers fee and pay my taxes I get lower than $0.50 for me :) I think it's fair.

Cheers,
Vinny

Hello again robl45,

Just to let you know - The commission that you will be charged on the Currenex account will be $5 per standard lot traded, not $10.

Also I have worked out a way to increase the maximum open positions of 10 lots  for you if needed. Just do let me know.

Cheers,
Vinny
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Offline rgmann

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Re: HotForex
« Reply #41 on: December 08, 2010, 08:44:23 PM »
100:1 is pretty standard.  no sense getting used to something that you can't use on a bigger account.  also the lower spreads help with many EA's, sucks to miss a TP by 1/2 pip because of the spread.

Yeah, I know what you mean about the spread. I didn't get a single trade from my EA Shark 6.0 for the past few days because the spread was too high, and I'm sure missing a TP by 1/2 pip would really suck! But I'm hoping that was only a temporary glitch. The spread is much lower today, thanks in part to Vinny's help in contacting them about that.

By the way, I'm able to use 1:300 leverage on the Standard account with no further restrictions than what's on the Currenex account. So other than the slightly lower spreads and the commission, I don't see too much difference between the two accounts. But is the slightly lower spreads worth paying the extra commission for? That's what I'm not sure about. It seems like the commissions would add up over time and negate the benefit of having lower spreads. But I don't know. I'm just asking...

Roger

Offline robl45

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Re: HotForex
« Reply #42 on: December 08, 2010, 10:06:29 PM »
so to be clear, its 2.50 per side then,  2.50 buy and 2.50 sell?   usually when i see it listed on sites like this at 5.00, thats per side, just want to make sure, this looks like a viable broker.


I was talking about the maximum lots of 10, that seems kinda of low,  can that be increased?  and to confirm, its 5 dollars each side so 10 dollars round turn?

commission is 10 dollars per round turn on currenex and maximum is 10 lots, that seems kinda low.

Yes you can get rebates on the Currenex account if you choose me as IB and it is $1.50 per standard lot turn. It is lower because of the low spread.

There is no demo of it though...

If you need any other help feel free to contact me.

Cheers,
Vinny

Commission:    $5.00 per 100.000 USD Traded
Maximum open position:    10 Standard Lots
http://www.hotforex.com/index.php?tpl=article.en&page=en/account-types/currenex-account

That's for the Currenex account.

They pay me $2.50
When I take in place the transfers fee and pay my taxes I get lower than $0.50 for me :) I think it's fair.

Cheers,
Vinny

Hello again robl45,

Just to let you know - The commission that you will be charged on the Currenex account will be $5 per standard lot traded, not $10.

Also I have worked out a way to increase the maximum open positions of 10 lots  for you if needed. Just do let me know.

Cheers,
Vinny

Offline Vinny

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Re: HotForex
« Reply #43 on: December 08, 2010, 10:20:11 PM »
I think they will charge you just for the volume traded no matter buy or sell. For every $100.000 traded no matter long or short they will charge you $5. They look only for the volume traded without taking in account the type of the position.

so to be clear, its 2.50 per side then,  2.50 buy and 2.50 sell?   usually when i see it listed on sites like this at 5.00, thats per side, just want to make sure, this looks like a viable broker.


I was talking about the maximum lots of 10, that seems kinda of low,  can that be increased?  and to confirm, its 5 dollars each side so 10 dollars round turn?

commission is 10 dollars per round turn on currenex and maximum is 10 lots, that seems kinda low.

Yes you can get rebates on the Currenex account if you choose me as IB and it is $1.50 per standard lot turn. It is lower because of the low spread.

There is no demo of it though...

If you need any other help feel free to contact me.

Cheers,
Vinny

Commission:    $5.00 per 100.000 USD Traded
Maximum open position:    10 Standard Lots
http://www.hotforex.com/index.php?tpl=article.en&page=en/account-types/currenex-account

That's for the Currenex account.

They pay me $2.50
When I take in place the transfers fee and pay my taxes I get lower than $0.50 for me :) I think it's fair.

Cheers,
Vinny

Hello again robl45,

Just to let you know - The commission that you will be charged on the Currenex account will be $5 per standard lot traded, not $10.

Also I have worked out a way to increase the maximum open positions of 10 lots  for you if needed. Just do let me know.

Cheers,
Vinny
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Offline CAJUN

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Re: HotForex
« Reply #44 on: December 08, 2010, 11:54:08 PM »
I don't usually demo, strictly live, but to find the right broker i am running 3 demo
accounts with different brokers and i can tell you Hot Forex is kicking there butts, i having been testing these brokers for 2 weeks with the same ea's and same pairs and i am getting double the trades and profits with Hot Forex.
Will it be the same if i go live, that's what i don't know it is really a hard decision, one thing for sure i am not making much money with the brokers i have now.

Good Luck
CAJUN
"The return (OF) you money is more important than the return (ON) your money!"