Re: Hot Forex SCAM
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.)