HotForex.com

J

JDTRADER

Experienced member
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These last few weeks I have looked and tried a lot of MT4 platforms.

This weekend I found http://www.hotforex.com/
Can this be to good to be true ?

Straight Through Processing STP/ECN Broker
Margin leverage from 1:1 up to 1:500
HotForex MetaTrader 4 Terminal
Scalping and Expert Advisors Allowed
Bonuses on new accounts and existing accounts
Spreads: from 0.8 pips
No Commission
Free Fast Deposits/Withdrawal by Debit Card
Regulated

I got the Demo platform downloaded and will try it out over the this coming week.

But on first impressions its all a retail trader would want

Anyone used HotForex.com ?
 
Last night and today Demo traded the HotForex MT4 platform.

Fast execution so far and I traded from the min to max lots with no re-quotes (But it is Demo !) No gaps in the charts.

Live Chat very fast and friendly

Email response within 3 hours :confused:

STP but I think not ECN. Seems compared to other MT4's HotForex is nearly a pip above the bid on some and below others but tight spreads. Not seen a news event yet.

So far all good and if this continues seems the best option.

Only downside for UK trader, Accounts in Euro or USD no £. Conversion is at the GBP/USD rate on the MT4 platform.

Will be trading the Demo this Tuesday morning UK session.
 
Hi JD,
Just some info for you. HotForex is licensed(?) in Mauritius which is generally a hotbed of dodgy forex companies. Also the address listed on their webpage also houses at a minimum, 3 companies in the same suite 612. They may or may not be similarly owned, but phone # are different.
- bandafx
- Premier Financial services
- HotForex (HF Markets)

Hard to believe there is no commission with those spreads. It says "typical spread". My guess you will find spreads somewhat wider if you go live. They probably tack on a fraction of a pip to each side (STP processing does that).

Peter
 
Last edited:
wackypete2 said:
Hi JD,
Just some info for you. HotForex is licensed(?) in Mauritius which is generally a hotbed of dodgy forex companies. Also the address listed on their webpage also houses at a minimum, 3 companies in the same suite 612. They may or may not be similarly owned, but phone # are different.
- bandafx
- Premier Financial services
- HotForex (HF Markets)

Hard to believe their is no commission with those spreads. It says "typical spread". My guess you will find spreads somewhat wider if you go live. They probably tack on a fraction of a pip to each side (STP processing does that).

Peter
Click to expand...

Hi Peter

Thanks for the feedback :)
 
wackypete2 said:
Hi JD,
Just some info for you. HotForex is licensed(?) in Mauritius which is generally a hotbed of dodgy forex companies. Also the address listed on their webpage also houses at a minimum, 3 companies in the same suite 612. They may or may not be similarly owned, but phone # are different.
- bandafx
- Premier Financial services
- HotForex (HF Markets)

Hard to believe there is no commission with those spreads. It says "typical spread". My guess you will find spreads somewhat wider if you go live. They probably tack on a fraction of a pip to each side (STP processing does that).

Peter
Click to expand...

I sent Financial Services Commission (FSC) of the Republic of Mauritius an email to confirm that they are regulated plus they have a UK base which I will call tomorrow.

You got my detective spirit rocking :cool:
 
Scalping problem

Today noticed when a trade has gone green I tried to move SL to brake even but noticed on the ticket:

Stop Loss or Take Profit must differ from Market Price by at least 30 pips

On my other MT4 platform Smart Live Markets:

Stop Loss or Take Profit must differ from Market Price by at least 0 pips

Comparing the two platforms I see no difference in execution
Hot Forex is STP but ECN don't think so

Smart Live Markets has the Virual Dealing Desk ON but I see no difference in price or speed of execution.

Hot Forex 500:1/300:1
SLM 100:1

Hot Forex is losing plus still no reply to my emails :sneaky:
 
Don't forget 30 pips on a 5 digit platform is the same as 3 pips on a 4 digit platform. Is SML 4 digits?

Peter
 
HotForex Email Reply

Dear JD

My name is George and I am one of the managers here at HotForex. First of all we would like to thank you for your interest in HotForex.
I fully appreciate your concerns and your carrying out of due diligence. It is the smart way to go.

We are a Mauritius regulated company. As per the regulations, we need to have some functions of our business (such as compliance) carried out of that location. The management company we work with might be working with other companies too and that is why you see more than one company registered at the same address.

The rest of the functions are carried out from several other management centers in Cyprus.

All client funds are segregated from Company funds and they are held at the State Bank of Mauritius (held in a client account separated from company funds).

Please let us know if there is anything else we can assist you with.

Best Regards,

HotForex Support
 
Re: HotForex Email Reply

JDTRADER said:
Dear JD

My name is George and I am one of the managers here at HotForex. First of all we would like to thank you for your interest in HotForex.
I fully appreciate your concerns and your carrying out of due diligence. It is the smart way to go.

We are a Mauritius regulated company. As per the regulations, we need to have some functions of our business (such as compliance) carried out of that location. The management company we work with might be working with other companies too and that is why you see more than one company registered at the same address.

The rest of the functions are carried out from several other management centers in Cyprus.

All client funds are segregated from Company funds and they are held at the State Bank of Mauritius (held in a client account separated from company funds).

Please let us know if there is anything else we can assist you with.

Best Regards,

HotForex Support
Click to expand...


i don't know if you still follow this thread but i want to ask why did you not register with the FSA while most of the other forex brokers are registred there? did you apply for registration but your application was declined?
 
Re: HotForex Email Reply

loyd said:
i don't know if you still follow this thread but i want to ask why did you not register with the FSA while most of the other forex brokers are registred there? did you apply for registration but your application was declined?
Click to expand...

That was an email reply I posted, they do not follow this thread.
 
hello everyone, I see the thread is not updated with posts since a while, I just have a question regarding Hotforex's payooner card and if any one has applied for it yet and how long it takes for delivery?
 
ah really ? I thought it would be available for all countries I think its just a matter of time, can you please show me the list if you have it?
 
payooner seems more and more popular and it is said to be supported in 200+ countries. I would have a try later.
 
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