Hot forex

kraven

Junior member
37 0
#1
has anyone used hot forex?

http://www.hotforex.com/

the only thing that's putting me off is they are based in Mauritius (and regulated there) and have found little in the way of reviews. however they offer great spreads, are ECN and have a 20% bonus.

or can anyone recommend a broker (for forex mainly) which is ECN, has tight spreads (EU no more then 1 pip, GU no more then 2 pips) are regulate (i'm in UK and would idealy like it to be the same) and preferably offer some sort of joining bonus........thanks
 

pboyles

Legendary member
8,072 1,301
#2
has anyone used hot forex?

http://www.hotforex.com/

the only thing that's putting me off is they are based in Mauritius (and regulated there) and have found little in the way of reviews. however they offer great spreads, are ECN and have a 20% bonus.

or can anyone recommend a broker (for forex mainly) which is ECN, has tight spreads (EU no more then 1 pip, GU no more then 2 pips) are regulate (i'm in UK and would idealy like it to be the same) and preferably offer some sort of joining bonus........thanks
I dont understand why people would even consider risking sending money to an offshore forex company. Just google their address and you'll see its a mail drop or virtual office, there are dozens of other unrelated businesses registered there. That took 30 seconds to find out, if you dig deeper you'll find more.

If there is a problem do you seriously think you are going to claim back your money from a small island off Africa? How would you even start, take them to court? Do they even have courts there? Madness to even think about sending them your money.
 

kraven

Junior member
37 0
#3
well pboyles that's why i post here to get people's opinions and experiences.

I have several accounts, they all have good points and bad, what i'd like is to get all the good points into 1 broker (trades from 0.01, a joining bonus, pref ECN and uk based and regulated) any suggestions??
 

pboyles

Legendary member
8,072 1,301
#4
well pboyles that's why i post here to get people's opinions and experiences.

I have several accounts, they all have good points and bad, what i'd like is to get all the good points into 1 broker (trades from 0.01, a joining bonus, pref ECN and uk based and regulated) any suggestions??
I dont trade forex personally but I imagine there are plenty of UK based regulated companies to choose from. At least being regulated gives you some chance of compensation if they go bust. The following link seems to list them but I'd also independently check they are regulated by looking them up with the FSA.

http://www.100forexbrokers.com/fsa-regulated-brokers
 
#6
I use GO Markets for trading and they are based in australia. I previously used an asian broker and it wasnt so good. The reason i chose GO, was because they are regulated by the Australian Financial Licence law. I think it is important to go with a regulated broker in any region you live.
 
#8
I use Hotforex.com and i am really happy with them. Realy fast withrawals and execution.
the first few days have been good.

However,

Last night I started to receive MANY requotes on Scalping positions,

Now I wake up to find out that they have disabled Trading.

Yes that is right, they have given me the " Trade Disabled"

I have open positions and Pending orders that I can not Close,

I can not open new orders.

I have contacted Online chat--- No help-- " reset your Platform"" - Yeah that really works.

I've contacted Technical support After 2 hours of waiting around for someone to contact me about the issue as Customer support said they will have someone contact me and fix the problem ASAP.

Well it has been a total of 3 hours now and counting. No email support yet.

And still no trading functions.

And I really thought this broker would work out.

its not like I gave them $5000 or anything, But I do not believe in most broker reviews so I like to test brokers out on my own.

http://www.myfxbook.com/members/pipinvestment1/hotforex/66270

here is the account at Hotforex. I've also added some information on the Discussion of this system. I hope everything works out. Their spreads are good and execution is so fair good, besides the requotes I got last night
 
#9
I use GO Markets for trading and they are based in australia. I previously used an asian broker and it wasnt so good. The reason i chose GO, was because they are regulated by the Australian Financial Licence law. I think it is important to go with a regulated broker in any region you live.
Agreed. Gomarkets was good. But they kicked me out at the last minute after the CFTC regulations..

So these offshore brokers are really my only hope, because I refuse to be binded my the US regulations
 

Faros

Member
50 0
#11
Headquartered in the Republic of Mauritius ? An offshore entity? Did you read any of their legal customer documents? They state "The amount of time needed to execute a Request depends on the quality of the connection. Under Normal Market Conditions, the Requests are usually completed within one and ten seconds" One second? You do realize that's incredibly slow. 7 days minimum written notice to withdraw? No mention of account segregation, liquidity provisions, or anything of any use or reassurance.

Why someone would want to entrust their hard earned money here is beyond me. There must be 50 MT4 bucket shops that would be better, if one can't decide from the top 5-10 major ones.
 
#12
I try them and they are very good....Is actually the first broker that i make money with my EA and i just made a withdraw and it was super fast....

I am happy :D
 

ISI

Newbie
3 0
#13
I really like these guys and find them very professional.

thought i would give them a try after i got a promotional ad with 30% bonus on my deposit, and have been presently surprised.

Very good Executions
No Requotes
Free Trade Signals
Tight Spreads
Multiple Trading Platforms such as , MT4, Mobile trading

overall would recommend them to all types of traders
 

Joseff

Established member
874 34
#15
New Trading HoursPosted on 28/06/2011 12:08 GMT

Dear Traders,
HotForex is pleased to announce that as of Monday the 4th of July it will be extending its trading hours.

In line with our commitment for continual improvements in the trading conditions we provide our Traders with, HotForex will be streaming live prices as of 00:00 (GMT +3) on the Monday and closing the weekly sessions on the Friday at 23:00 (GMT +3).

As a result of the above change the server times will be as follows;

GMT +3 hours

This change is the direct result of feedback from our clients and is a clear indication that HotForex is striving to service its client's needs and taking such requests seriously. We hope you enjoy the new improved trading conditions.
 

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