Im new to the forum here, have traded mainly commodities for about 5 years and am now living in Italy and
have been trading with Hotforex on demo for about 3 months now.
Technical side is excellent and support is great - no issues. Have had some slow executions but generally
they execute ok compared to my other brokers so no complaints there.
However, I am looking at going live with them at the end of the month with a large investment.
The key thing I look for in broker choice regardless of spread, commission, bonuses, etc…is always
security of funds, and primarily [B]ease and guarantee of withdrawal. [/B]
Has anyone had any experience either negative or positive withdrawing [B]large sums[/B] of money from this broker? For example with funds in excess of 20k?
I have been using them from US for a few months now. I have not made a withdrawl, but just ordered and receieved their prepaid debit card, so I can instantly withdraw funds from my account. I will let you know how it works out.
Their service is fine, dont be tricked into their 50% deposit bonus, it takes a lot of trading to get it to release and encourages you to overtrade.
You can also email them and have them adjust the leverage on your account. For me the 1:300 is too tempting. It beats the 1:50 in US, and gives you all the leverage you need but I limit it to 1:200.
I’m trading with hotforex for months now, been depositing and withdrawing like crazy but never had any issues, though Im from southeast asia, the largest I’ve withdrawn is like 1k, but I know someone who has like this sizable account and he never had any complaints. and welcome to babypips
I was trading with the leverage of 200:1 before when my account amount is under USD8000. I asked for the leverage adjusted to 100:1 when I earned some money and the balance is over USD8000. trading is similar as before and no big issues. for withdrawal, I don’t think there would be any problem, you should notice whether there will be some limit on your 3rd party payment gateway. like I had some limit problem with Moneybookers so I need to keep the balance in my Moneybookers for a certain time. however, this is no big deal. the most important thing is that you need to make some money.
thanks for sharing the information, I am trading with them too and I must say that I really feel my funds secured, in addition they have got one of the safest withdrawal systems, its manual yes, but its really safe, if you send the request before 9 am (gmt) you will get the money the same day, and about large amounts withdrawals, I cant help you much because I have never tried to withdraw 20K but … I believe there are no issues.
I have updated all my MT4s with several brokers. I have noticed that while all other brokers have updated to v4.19, Hot Forex has only updated to v4.18 which, I believe, still has issues with many EAs. Has anyone managed to update to v4.19?
I have managed to update live accounts to v4.19 (only demos are offered to v4.19, live accounts are still only updated to v4.18). Still, all versons above 4.09 have many issues with several EAs and are causing broker disconnections often. I have rolled back to v4.09, the last stable known version. Cheers
May be you already invested money I am late here to suggest you about the large amount, They are good for large amount investment, but my advice is before you may take this step do more research on it, Best of luck
I tried them awhile back and while I didn’t really have any complaints I did end up going elsewhere. I guess if I had to give a reason it would customer service. Not that it was terrible but I get a more personal touch where I am now which I appreciate.
hotforex was one of the brokers i opened account with, i think hotforex is excellent, with good execution and good support,
too bad CFTC regulations does not allow me to deal with hotforex anymore and my account is closed.
I am newbie, I just finish demo training for near 10 weeks and thinking of live account, I used demo from Hotforex, Alpari UK, FXopen ECN.
FXopen ECN is the best in Spread and good swap fee, But data feeds are so bad, Sometime dead for few min, On line customer support are very bad too and not very helpful.
Hotforex is not as good as FXopen in spread with good Swap fee, but little bit stable data feed than FXopen, Its data are delay by 1/2 second than other broker, Plus, it is not doing business with US client, it is not a good sign of good broker in business world.
Alpari UK is the most expensive in spread and swap, but their data feed are really good.
I am Asian who live in Canada, My trades last from 30 min to few days, Which broker is the best for me?
yeah, the thing i guess about US citizens is something that has to do with US regulations, I think its not only hotforex that was restricted to serve US clients, I do not understand much when it come to regulations but the way i look at it i think the US government is trying to make US traders trade US brokers for tax or something it maybe better for the country but its kinds unfair its only my opinion anyway
I am newbie, I am using Demo server only, I am still looking for good broker, I like Hotforex because they seem having pretty good PAMM, However, Their price datafeed is so bad, Lot of gaps, Their price data is lagging by 1/3 second with breakup gaps while other broker has exactly same charts without any gap at all.
I don’t see this breakup gap in price 10 weeks ago, My question is that what are those break up gaps means? Are they Acting as Market maker that time? Where they can make more money for themselves to overcome losing money from USA client? for me, I am not US client, I will stay away from them now, It doesn’t look good for me untill they can fix up those breaking up price gaps as well as 1/3 second delay in data.
I think almost all brokers outside of US are prohibited to do business with US clients these days. It’s not their choice (who don’t want big fat dollar deposit from US?), it’s just US government don’t want to lose their tax money (ie: you deposit USD and trade with HotForex, HotForex will pay the tax to Mauritius government, not to US) and thus… the dodd frank.
Just stick to STP or ECN regulated brokers and stay away from MM. It might also a good idea to stay away from broker regulated in small countries such as BVI or Panama.
but never had any issues, though Im from southeast asia, the largest I’ve withdrawn is like 1k, but I know someone who has like this sizable account and he never had any complaints. and welcome to babypips 
