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Author Topic: HotForex  (Read 409946 times)

Offline robl45

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Re: HotForex
« Reply #45 on: December 09, 2010, 12:01:06 AM »
so I buy 1 standard lot, thats 5 bucks, then I sell that same lot 5 bucks, so 10 dollars round trip?

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

Offline Vinny

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Re: HotForex
« Reply #46 on: December 09, 2010, 07:16:34 AM »
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

CAJUN there will be a little difference between the demo and the live account, because of the spreads. I think rgmann can give you the best outlook for the difference between the demo and the real account there and I hope they have fixed that spread issue with his live account. We will find out today.
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Offline Vinny

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Re: HotForex
« Reply #47 on: December 09, 2010, 07:17:58 AM »
Yes robl45 sorry if there is any misleading caused by me in the previous posts.

Cheers,
Vinny
« Last Edit: December 10, 2010, 10:19:09 PM by Vinny »
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Offline rgmann

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Re: HotForex
« Reply #48 on: December 09, 2010, 07:49:32 AM »
CAJUN there will be a little difference between the demo and the live account, because of the spreads. I think rgmann can give you the best outlook for the difference between the demo and the real account there and I hope they have fixed that spread issue with his live account. We will find out today.

Yes, my HotForex demo account has consistently had a spread in the low to mid 1s for the EUR/USD, and the live account is now in the low to mid 2s (that's the only currency pair I've been paying attention to for the spreads so far). So it looks like they have the problem fixed for now. We'll see how it goes over the next few weeks to months. Overall I have been pretty happy with HotForex. And now that I'm working with Vinny as my IB, I think their service will be even that much better (he's been staying on them pretty good to get things done right, and has been quite helpful so far).

Roger

Offline Vinny

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Re: HotForex
« Reply #49 on: December 09, 2010, 07:58:13 AM »
CAJUN there will be a little difference between the demo and the live account, because of the spreads. I think rgmann can give you the best outlook for the difference between the demo and the real account there and I hope they have fixed that spread issue with his live account. We will find out today.

Yes, my HotForex demo account has consistently had a spread in the low to mid 1s for the EUR/USD, and the live account is now in the low to mid 2s (that's the only currency pair I've been paying attention to for the spreads so far). So it looks like they have the problem fixed for now. We'll see how it goes over the next few weeks to months. Overall I have been pretty happy with HotForex. And now that I'm working with Vinny as my IB, I think their service will be even that much better (he's been staying on them pretty good to get things done right, and has been quite helpful so far).

Roger

I'm glad everything is working fine now. I'm still waiting for your account to be transfered under my customers... One of the managers there that seems to respond to all of my needs very quick is going to be in the office in the next 30 mins and I will talk with her over the phone to get the things done, cause seems that support is with tied hands for some of the things.

Vinny
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Offline Vinny

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Re: HotForex
« Reply #50 on: December 09, 2010, 09:38:10 AM »
-
« Last Edit: December 10, 2010, 10:19:43 PM by Vinny »
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Offline CAJUN

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Re: HotForex
« Reply #51 on: December 09, 2010, 09:52:36 AM »
P.S. In my communication regarding my IB application 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.

Hey Vinny, did you ever get the answer to the above?

CAJUN
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Offline Vinny

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Re: HotForex
« Reply #52 on: December 09, 2010, 09:58:02 AM »
Yes that is confirmed by one of the managers in an official email to me!

Cheers,
Vinny
« Last Edit: December 10, 2010, 10:20:08 PM by Vinny »
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Offline CAJUN

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Re: HotForex
« Reply #53 on: December 09, 2010, 10:13:26 AM »
Can my funds from one of my US brokers be transfered to HotForex, if so, would there be any charges?
Also, may i ask what country you are located.
I know you may be just starting out and that is probably the reason for your small rebate, i am with an IB in the US and they are paying 4-6 US per lot.
As an IB do you have to show any proof to HotForex that you are financially sound to cover these rebates.

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

Offline Vinny

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Re: HotForex
« Reply #54 on: December 09, 2010, 10:28:50 AM »
Can my funds from one of my US brokers be transfered to HotForex, if so, would there be any charges?
Also, may i ask what country you are located.
I know you may be just starting out and that is probably the reason for your small rebate, i am with an IB in the US and they are paying 4-6 US per lot.
As an IB do you have to show any proof to HotForex that you are financially sound to cover these rebates.

CAJUN

Hello CAJUN I will check with one of the managers right now about your first question.

For the second one - I am from Bulgaria and I am based here http://en.wikipedia.org/wiki/Bulgaria. There are some people from the forum that know me and know who am I. I also run some other services via my website where I have my phone and everything.



I have been scanned pretty well at HotForex. I have send ID's, bank statements, proofs of address etc. I got validated over the phone as well - my phone is on my website so anyone can give me a call :)


If you have any other questions feel free to ask me. As soon as I have your first question answered I will let you know.

Thank you!

Vinny

« Last Edit: December 10, 2010, 10:20:46 PM by Vinny »
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Offline CAJUN

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Re: HotForex
« Reply #55 on: December 09, 2010, 11:15:32 AM »
Thanks Vinny, could you also check if they are setup with Paypal as i have been doing business this way for a few years and am sure other people would like to process there transactions this way also.
Will you be paying your clients thru Paypal as this is the way i am being paid ATM.
Sorry for all the questions but i am very cautious and conservative. ;)

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

Offline CAJUN

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Re: HotForex
« Reply #56 on: December 09, 2010, 12:51:09 PM »
I don't see why you can't do it as i see other broker post with the IB promoting there brokers, not fair.

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

Offline robl45

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Re: HotForex
« Reply #57 on: December 09, 2010, 01:07:48 PM »
all about the almighty advertising dollar.

Offline donnaforex

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Re: HotForex
« Reply #58 on: December 09, 2010, 02:00:29 PM »
Nobody should be advertising anything on here without permission. I always wanted this place to be a point where all brokers could be discussed without being clouded by advertisers and people with alternative agendas. I will go through and delete further any posts i see which are from IB's. A small part of this is about protecting revenue for the forum, i won't deny it, i have ongoing costs to cover - but a much bigger piece of this is the need to be able to get to the bottom of what brokers are good and which are not rather than offer up a marketplace of IB's vying for attention. The minute i allow anyone to come here and advertise themselves the forum will descend from a place of information and interest into an advertising board which serves no real purpose.  This is why i also encourage anyone who sees advertising to let me know by hitting the report posts button...

Thanks :)
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Offline robl45

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Re: HotForex
« Reply #59 on: December 09, 2010, 02:23:33 PM »
Apparently, if it's the aslan group it's okay, anyway, for people running live, how is the slippage?

 

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