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.
SNOTForex aka HotForex.com: They are a SCAM, Market Maker Bucket Shop/Boiler Room.
I was - again - very successful, very quickly, trading in my usual large lot sizes. They didn't like my success, so they started to sabotage my trades: hindering the placing of the order by SECONDS (2-5) and then massively "slipping" profitable trades into LOSSES.
I should have gotten out when I could. I gave them another chance...then they really showed their true colors.
Usually I had ridden out downturns with my margin. However, a few trades were in negatives but I still had margin and worst case scenario, I believed it would be stopped out at 20% as per their margin terms.
But NO. If you sign up for their lure, their entrapment of 50 - 100% BONUS scheme, they then tell you - AFTER they destroy your entire account by NOT stopping out trades with 20% of your margin left - that the normal margin terms do NOT apply when you have the Bonus Scheme!! They use this to justify the total theft of my entire account.
Crooked, criminal filth. This industy is rife with them. The whole world lieth in wickedness.
Bottom line: if you're a reputable broker, you don't need to offer "bonuses". You just offer trustworthy service with no hidden and conflicting (criminal) terms.
STAY AWAY FROM THIS SCAM BROKER!! (STINKForex aka ThinkForex.com is more blatant than these guys, in that they changed my leverage in mid-trading. SNOTForex aka HotForex is more devious, but BOTH are bucket shop thieves. I'm trying Dukascopy Europe and Pepperstone soon.)
Yeah i believe that forex is not for everyone, i know the feeling of having the money for investing but not knowing where to invest I still stick to my job, and do some forexing in my free time, a couple of swings a week nothing big, keep it safe, on the other hand im looking into stock markets, it might be another good investment in the near future, it can't be more complicated than forex right?