Hi guys, I am new to this forum and it seems like a really good one at that.
I have been using the Hotforex demo account and would like to open a micro account with them. My question is with the bonus options. They have the 15% rescue bonus or 100% credit bonus. I was reading the terms of the 100% bonus and it seems like this is some kind of scammy deal
According to my understanding point 4.2 says that if you make a withdrawal, the bonus amount that you claimed will be removed from your withdrawal request. So eg. if I deposit $100 (the minimum amount for the bonus), and I trade blah blah blah and my total equity reaches $300 (including the bonus), now when I want to withdraw $150 they will only deposit into my bank account $50 ($150 - bonus claimed). My equity will be $150. So in reality the bonus has been removed.
Another problem is that in point 4.5, it says that if your equity balance falls below the bonus amount, then the bonus is removed. So for eg. if I deposit $100, my total equity including the bonus is $200, now if I trade blah blah blah and I lose such that my equity goes to $100, they will automatically remove the bonus ($100) leaving my account with $0.
Point 4.3 also ensures that you cannot deposit $100 and withdraw it immediately in order to just claim the bonus.
Please clarify if my understanding of these terms is correct.
I would also like to know what happens in terms of the profits made with the bonus amount.
This place is great 
Hi there 
Can you please provide a link where that “bonus” terms are described? I couldn’t find anything on Hotforex website just some posts on different site from 2016, so I believe the offer has expired or is kind of not so easy to find
As per the points:
4.5 you got it IMO correct.
4.3 makes completely sense LOL
4.2 If you deposit 100$ and get 100% bonus = 200$. Than you make it 300$ from trading and want to withdraw 150$ shouldn’t you receive 100$ to your bank account (as much as you have deposited) and the rest 200$ are now withdrawable as they are considered as part of the bonus?
I never used any bonuses and am not sure how they work. Also IMO all those bonuses are scam. More info to the topic you can find here and here 
Hi, thanks for replying.
The bonus terms can be found under the promotions tab of the website.
Hotforex Bonus
Just go down to the 100% credit bonus and click on the “tiny” terms and conditions link. 
Of course it’s not a bonus. It’s a margin bonus like every other shitty retail broker who have nothing good going for them. Why else use bonuses to attract unexperienced retail newbies. Come on…casinos offer bonuses. Read between the lines and stop being gullible
There’s a reason these bonuses will be banned as of next year according the FCA. If this happens to be all [you’re] interested in, you stand no chance in this career long term.
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@TIStephen I couldn’t find anything but thanks for the link anyways. Maybe I should be logged into myHotforex to see it…
Anyways I do agree with RISKon. IMO it’s better not to choose a broker just because of the “bonus” it offers.
Cheers.
Oh so your plan was to deposit, receive bonus and then withdraw immediately?
Of course you can withdraw bonus but under certain conditions. Its widely know as volume requirement, i.e. after you trade sufficient volume, for example 20, 30 lots or the certain number described in ToS you can withdraw profits and bonus freely.
If you came there to get some freebie, then sorry its a wrong place for that.
Hey TIStephen and welcome to the forum. If you are a newbie in trading I would advise you to not fall into the “bonus” trap which many brokers like to offer. Trust me it would not be a bonus for you but for them. This topic has been previously discussed many times and the overall opinions are that in the end, traders are not supported by it but on the contrary - the account is either blown faster or they are not able to withdraw the whole profit. Besides most Terms & Conditions regarding this scheme are written in a quite confusing manner so if you try to claim your whole profit, you won’t succeed. So please, stay away.
Yea I figured it was a bit stupid. The sales rep called me and I asked him about it and he said the bonus is just to prevent you from getting stopped out due to margin call.
Honestly I find that really absurb because you could easily blow all your capital like that with one trade.
My previous broker IG didnt offer any bonuses so I thought it was a good incentive. Guess not.
Well, its up to you whether to put the bonus into work or reject it. News traders which take exceptionally high risk find such bonuses useful to increase deposit resistance to drawdowns, but for usual trading it may bring little benefit.
Always control your trading risks with stop losses and properly chosen lot size and you are guaranteed to trade without deposit blowouts.
Somewhow it got my attention really after so much time… I do know that in some other stuff it’s really not that much going on there for many many people. Bonuses I am highly doubt can be used only for increasing deposits not for withdraw.