hi ISFurlan, you will receive your withdrawal amount within 24h in case you deposited via an eWallet (Skrill, Neteller, etc). For bank transfers and Cards you have to wait some time to receive the funds at your bank account. You can always contact HotForex Support or Back Office department and ask for the status of your withdrawal request. Note that they have specific hours when withdrawals are processed. At the end of the day, you will receive your funds - that’s a fact!
yup thats a bout it really, decent broker, good execution, avoid big events and high volatility unless you know what you are doing, but in terms of withdrawals its pretty much straight forward, o yeah one more thing before depositing make it a habit to make sure all documents are verified first to avoid hassle.
I’m wondering if I have to use same deposit and withdrawal methods when using credit cards? The point is I was always using wallets for deposits/withdrawals, but If I try to deposit directly from credit card should I use the same source for withdrawal (like the amount deposited will be returned on card and profit will be withdrawn on e-wallet).
Would really appreciate clarifications on that matter.
Thanks in advance.
Dear Friends,
May I ask about hotforex broker? any body work with that? may I have some information about withdrawal with them? how about news trading?
thx
hello maher, hotforex in general is an OK broker, withdrawal are processed usually with in 24-48 hours if you use skrill, webmoney or payoneer or any third party processor, for wire transfer it i guess a biit longer. if you are familiar with forex trading and mt4, then i would say the best is to test on a small live account but if you are new to forex in general pls stay with demo… hotforex is a good broker never the less. I dont trade news much but expect some change in spread during release, its a given. best of luck
million thanks for your kind reply.
Im glad it helped moher and best of luck mate… happy trading
Dear Jingoy,
sorry that take your time and other people in this forum. but last Friday something happen to my account ( Mt4 )that I think I should change my broker.
indeed I work with sell stop and buy stop options but I fell that broker change them ?? sound very funny but it happened for me.
the price of trade and take profit price changed totally. the price of take profit was higher than the price in mt4 in sell stop!!! however Mt4 cannot accept this situation?
I really confuse since last week Friday.
would you mind if you let me to ask that you think it would be happen??
as you are expert, may I know your opinion, million thanks in advance.
again sorry to write in this forum and please forgive me for taking the time .
Friday?:33: Maybe you tried to trade on tricky NFP release? Could you please tell me more - pair, time etc.
Dear profitbaby,
yes,exactly before the NFP(three min before), I put the sell stop for AUD/USD and after the trade came as a sell everything changed totally.
surprisingly, the take profit price became higher than the price, as I know MT4 cannot accept this in any circumstances but here happen!!!
price higher than take profit and and stop lost is even higher than that , and the stop of trade is totally different!!! and non of them my prices that I set on my sell stop!!!
I really cannot understand, I am waiting for the broker to answer this ,they said it take a time.
but for sure I should change my broker. after this I became suspicion about the broker and checked other trade(order) too , I found that take profit of my trade changed in one trade and its become lower than the amount that I set.
is that happen in Mt4, really need helps really.
very sad, I dont want to say I am poor that I will die if i lost that money but fell that cheated in the internet made me very upset.
I try to change the broker and start to survey about other broker but it make me confuse more, review of other broker cannot help much!!!
for sure your helps and advice as a expert make me very happy.
ok let me get this straight moher,
- you asked about hotforex on Nov 7 thats a saturday… we all know thay forex has no weekend its a 24/5 market
- yes come Nov 9 monday and you where already claiming that hotforex changed your TP and sellstop?
- you told profitbaby you are trading the NFP which was Nov5? do you time travel or something?
im no expert but I have been waiting for you to actual tell us the prices you traded, entry points? and SL TP levels if any? coz you know that MT4 wont allow this change meaning its impossible…
here are a couple of things i want to see from you
- do you actually own a live account number? kindly provide?
- can you simple screenshot your said trades?
this way the broker can actually look into it before you start telling us you have to escape, remember, problems need to be resolved, so when claiming something the next best things is to actually help us help you with decent details.
That’s common issue among newbies - trying “to beat NFP”. Extremely volatility is expected at this time and known risk management tools such as Stop Loss and Take Profit as well as pending orders may not work correctly.
Because of too many orders submitted at this time Liquidity providers are not able to fill them at the exact price you want. LP’s work is subject to well-known rule - FIFO (first in - first out).
For example first 2 mn orders are executed at the exact price but for next 2 mn orders in the queue there is no desirable price so they are executed at “best available price” Trader instead gets slippage, delay in SL, TP triggering and delay in pending orders execution…
I strongly recommend newbies which deal with NFP first time to trade on very small amounts (0.02-0.05 lot to get best execution) as well as don’t hold too much money in your trading account in case there is abnormal market slippage you won’t lost too much.
Dear Profit baby,
Thank you very much for very kind and comperhensive explanation. for sure I keep and use your very useful advises.
meanwhile in my case the entry price and take profit price in sell trade is really interesting. take price(TP) is higher than entry price!!!
May I ask what should I do, however I contact the broker but I really dont know what should I do!!!
Thanks in advance for your kindly answer.
Dear Jingoy,
the problem of mine [B]is not Related to HOtforex broker[/B], currently I am working with other broker that this problem happen.
I try to change the broker therefore I came to ask about people here about the hotforex.
I have all screenshot and other thing and I am waiting that my broker answer me(they told that until end of this week).
please forgive that I wrote my problem here, I really confuse about this and very sad…
Respectfully yours,
Moher
hahaha now i see, my bad moher that got me confused… what broker are we talking about… its ok to mention, there are 4-5k online forex broker in this industry, in my opinion only a small portion will pass as good, another thing is its realy hard to decide based on what online user say, or online reviews,
I would say there is no perfect broker, and yes there are many scam bad brokers out there, or simply brokers that are striving and maybe trying and usually failing. lol
I am not much of a news trader and to be honest i avoid the NFP release, I did cost me a lot in the past lol. but just like what profit baby said, it can be a bit tricky.
I’d advice you to try Hotforex instead of your broker to see if same issues occur (what I doubt about). I was getting similar issues with prices and execution when traded with some bucketshop but now everything is fine.
I wonder what broker he decided to go with, as long as its not one of them deposit only brokers i guess LOL… trading is growing a bit slower and slower, its really the holiday seasoon.
Trading conditions between different brokers are different, the execution and minimal pips in setting trades of TP and SL are different as well, some use 3 pips and others are 5 pips. You should try several brokers before investing to one, it’s wise
Yeah the less this number the better. Spread widening is also important issue sometimes its makes serious confusion that’s really hard to get. You should learn first how trading conditions are shaped by market and only then try to trade.
I have been trading for 8 years and I will never enter or even exit a position when any kind of major news are released. The spread can kill you easily.