i think ive seen a post somewhere about another canadian, im not sure how it works, but they can trade hotforex? i think it was sometime last year where they had strict regulations agains trading off shore brokers?
Thats the tricky part, recently I moved to Europe and had to show a proof of address because it seems indeed that they donât allow Canadian citizens anymore.
I never tried the wire transfer, I use skrill because I also got the mastercard linked to it, its pretty cheap to use.
skrill is a good option, but i heard about webmoney which im thinking of trying after a couple more inquiries, currently im using payoneer coz of the debit card which is a lot easier to withdraw withâŚ
I tried to use Webmoney to withdraw from Hotforex but the fee is higher and it takes a bit longer than to Skrill. For Skrill Hotforex has 0% withdrawal fee. So I recommend to use Skrill for withdrawals.
Do we know if FX are truly ECN?
Do you mean Forex or this broker name HotForex?
I meant HotForex, my bad.
if im not mistaken they are an STP/ECN broker, but over all i would say they really are. not much of an expert here, but so far it works for me.
Seems no way to check if your broker is truly ECN but I also traded with this broker about 1 year and no issues happened.
If you donât verifiy your address, thereâs a limit on how much money you can send or withdraw with Skrill. I already submitted my documents a few days ago, but still receive no response from Skrill. Just how long Skrill will take to verify address? Is there any way to make it faster?
Yeah had the same problem with their CS lingering the verification process. Iâve called them twice and wrote around 3 emails before they verified me. Probably they run some checks on the information I provided or just lack of staff who deals with verifications.
Anyway theyâre great payment processor and works perfectly with Hotforex (0 fees for withdrawal there)
You should get the Skrill mastercard then, I use it all the time (just make sure its in the same currency as ur account to avoid extra fees)
@profitbaby Did your account manager called you home after you opened a live account? What did he told you? After being scammed by several binary brokers last year, I put a fake phone number into my account. I donât like the idea of brokers calling me home because usually they will do promotional thing such as bonus offer or something.
HotForexâs account verification/validation and sometimes certain payments need a call verification from clients. Receiving calls is an issue and delays will occur if you place some fake/incorrect information. But on the other side, why to place a fake telephone number? You can find some detailed information for HotForex, among other brokers, at theforexlist.
If you need sincere brokers, go for NFA, CFTC and FCA regulated brokers. Anything outside these, you are going to give your money away to fraudsters like Hotforex.
Please all traders intending to open an account with Hotforex should have a quick change of mind. They are the biggest scam broker i have ever come across. First, they are not ECN! They are fraudulent market makers!
They said the withdrawal are restricted for 6 months and hotforex will deduct 50% my from the account without any explanation.
Hotforex must be punished by regulators CySec and FSA Mauritius.Totally Scam.
Yeah donât like their âcold callsâ too, but when they call we have a fun with them cuz I always try to divert him from the topic of conversation 
. Regarding Hotforex yes they called me once and asked if I prefer to communicate via calls or email, I said that getting in touch by email would be fine so havenât got any calls from them from that time.
For risk-prone traders their bonuses would be fine I guess, but Iâm very conservative trader so theyâre useless for me.
BTW, these guys with complaints above using fresh usernames all registered in OctoberâŚHmmâŚLooks like disgruntled rivals trying to tarnish Hotforex:)
Hello everyone.
Can someone please share your experience when withdrawing from HF?
Thanks.