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Author Topic: HotForex  (Read 410088 times)

Offline CAJUN

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Re: HotForex
« Reply #60 on: December 09, 2010, 03:20:49 PM »
Apparently, if it's the aslan group it's okay, anyway, for people running live, how is the slippage?
I suppose it's o.k. for NordFX also,

CAJUN
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Offline donnaforex

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Re: HotForex
« Reply #61 on: December 09, 2010, 03:28:21 PM »
Apparently, if it's the aslan group it's okay, anyway, for people running live, how is the slippage?
I suppose it's o.k. for NordFX also,

CAJUN

no it's not. but i can't view every single post on here and can only delete stuff that i either see or is reported to me. i will go and check out nordfx, thanks.
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Offline donnaforex

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Re: HotForex
« Reply #62 on: December 09, 2010, 03:29:45 PM »
actually i just checked nordfx and it appears to be a broker representing themselves directly, not an IB. I actually encourage brokers and vendors to come here to offer customer support (but not to advertise). Agreed that NordFX shouldn't have started the topic though, it should have been by invitation.
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Offline 808

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Re: HotForex
« Reply #63 on: December 10, 2010, 05:29:42 AM »
I wish I would have read this thread before opening up my account so I could get the rebates. I guess I will have to close and re-open. Just a FYI for some reason they disable the ability to trade EA's and you have to contact them and only durring office hours can they enable your account so that EA's can trade.  
« Last Edit: December 10, 2010, 05:31:52 AM by 808 »

Offline rgmann

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Re: HotForex
« Reply #64 on: December 10, 2010, 07:39:25 AM »
Just a FYI for some reason they disable the ability to trade EA's and you have to contact them and only durring office hours can they enable your account so that EA's can trade.  

That's strange, because I've never had any problem using my EAs with HotForex. I've never had my EAs disabled or blocked or anything else. However, if you read their "EA Liability" statement (http://www.hotforex.com/documents/HF-Markets-Ltd_EA_Liability_Disclaimer.pdf), they do have a few restrictions on certain EAs (e.g., "4xGreed / Genius / FAPTurbo / IndraFXS / ForexShocker/ Kaprit/Pacul/ and all other arbitrage EAs are strictly prohibited and will result in your account being banned, with no refunds"). I'm not sure what that's all about, but I think it stinks! I also didn't see that until after I opened my live account, as it is sort of "hidden" in the fine print so to speak. I'm honestly not sure if I'll stick with them after reading that. I'm using the "Forex Breakout Genius" EA, and I have no idea if that's the EA they are referring to by "Genius" in their statement. I plan to ask Vinny to check into it for me, but the last thing I want is to unexpectedly get my account banned without any refund! That sounds like stealing to me! I can understand how they can ban or close your account for violating their policy. But how can they just take your money without returning your initial deposit and any money you earned while trading?
« Last Edit: December 10, 2010, 10:30:26 AM by rgmann »

Offline CAJUN

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Re: HotForex
« Reply #65 on: December 10, 2010, 10:09:17 AM »
I haven't jumped in yet still debating but my interpretation of it is they do not want ea's that opens numerous trades at one time, could be wrong but Fapturbo is one of my ea's and if i can't trade it then i am out.
This is one of the reasons why i am trying to change brokers because Fapturbo, megadroid and accuscalper is not trading on Forex.com and FXDD, seems like they are blocking them. I have a couple of free ea's that are trading but the consistency is not there so i am not making money.
Don't know, we will have to get Vinny to explain all of this.

Good Luck
CAJUN
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Offline nano_fx0

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Re: HotForex
« Reply #66 on: December 10, 2010, 10:35:14 AM »
I think Genius refer to FXGeniusRobot by Dominic, EA that uses master and slave to execute order and duration of trades mainly take no more than 2 seconds.

But, I wonder why they ban FapTurbo also ???
« Last Edit: December 10, 2010, 10:06:09 PM by nano_fx0 »

Offline CAJUN

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Re: HotForex
« Reply #67 on: December 10, 2010, 11:16:13 AM »
I wish I would have read this thread before opening up my account so I could get the rebates. I guess I will have to close and re-open. Just a FYI for some reason they disable the ability to trade EA's and you have to contact them and only durring office hours can they enable your account so that EA's can trade.  
P.M. Vinny he may be able to help you out. ;)

CAJUN
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Offline rgmann

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Re: HotForex
« Reply #68 on: December 10, 2010, 12:15:15 PM »
I think Genius refer to FXGeniusRobot by Dominic, EA that uses master and slave to execute order and duration of trades mainly less than 2 minutes.

You are probably correct, considering the context it was placed in. But I also use the "Forex Weekend Gap Trader," which relies upon trading the gaps that often take place when the market opens at the beginning of the week. And it seems like that too may run afoul of their rules. I'm definitely going to check into it further...

Roger

Offline 808

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Re: HotForex
« Reply #69 on: December 10, 2010, 09:59:33 PM »
I spoke with cusomer service and they pointed me to this.  I to am disapoined as I did not see it either.  .  I dont really understand this at all. Hopefully someone smarter than me can explain to us. Kind of bummed thought I found a good broker.

http://www.hotforex.com/documents/HF-Markets-Ltd_EA_Liability_Disclaimer.pdf

This what i read
http://www.hotforex.com/index.php?tpl=article.en&page=en/mt4-terminal/advantages-of-the-hotforex-mt4-terminal
« Last Edit: December 10, 2010, 10:44:32 PM by 808 »

Offline Vinny

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Re: HotForex
« Reply #70 on: December 10, 2010, 10:42:30 PM »
This doesn't look good and I will see if anything can be done about FAP Turbo, because I'm not sure that FAP is cheating in any way and I don't think it's aggressive either. I can give you more info on Monday, because their management is going to be available then and I want to discuss the issue directly with them. As for the other EA's mentioned in the disclaimer I agree for some of them. If the liquidity provider does not allow the usage of such EA's nothing can be done...

Cheers,
Vinny
« Last Edit: December 11, 2010, 09:20:07 AM by Vinny »
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Offline CAJUN

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Re: HotForex
« Reply #71 on: December 11, 2010, 12:32:22 AM »
I agree Vinny, Fapturbo is not an agressive ea it will give you one trade on each pair you are trading per day, FTLT could go on for a while but it will still open one trade at a time. Megadroid and AccuScalper you may get one or two trades per week, i do have other ea's that are agressive but i can control them, actually i have 9 ea's but i don't run all at the same time.
If you can fix this i may still be interested, if not well i have to run my ea's to make money.
With all due respect to you, i feel you should have read all the fine prints before jumping in as an IB if you were not aware of this, and i should have read all the fine prints myself before considering them, this is the reason i don't make decisions on instincts.

CAJUN
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Offline Vinny

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Re: HotForex
« Reply #72 on: December 11, 2010, 09:01:15 AM »
To be honest with you CAJUN I have missed that EA Liability Disclaimer. I will have discussion about it on Monday.

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Offline rgmann

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Re: HotForex
« Reply #73 on: December 12, 2010, 01:52:02 AM »
To be honest with you CAJUN I have missed that EA Liability Disclaimer. I will have discussion about it on Monday.

It was easy to miss. I thought I had read everything very carefully prior to opening a live account, and I had traded on their demo account for about a month with no problems. However, the EA Liability Disclaimer surely wasn't placed in a very prominent position on their website!

Roger

Offline 808

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Re: HotForex
« Reply #74 on: December 12, 2010, 02:00:51 AM »
I think the Genius robot they are talking about on the disclosure is not break out genius. I did a search and their seams to be another robot with the name of Genius.  I wonder why they said robots that rely on market gaps are not allowed is that not an legit strategy. How is that cheating anyone know and what is an inappropriate price jump?
« Last Edit: December 12, 2010, 02:24:37 AM by 808 »

 

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