Discuss HFM.com (was HotForex.com)

[henyo]

If im not mistaken the review of mr amar is updated and resolved.

 

[Azlan00IM]

4: in past, they also suspended my account when i tried to withdrew money because amount was big, and they used dirty tricks. That matte was solved, but i know how i spent a week in full tension. So they are good, as long as you lost money but when you make money, so there will be many issues. Be aware of it.

Hi, Can you describe your problem withdrawing money with HF? Yes, I did have issues with HF when depositing money using the same cards several times - they asked me to submit documents, sign up validation form etc. However, I havent't yet withdraw a huge sum of money from them. Can you describe more details about your issue and how to solve it? If it is big enough, I might stop trading with them and switch to other broker.

 

[meaversand]

Hot Forex PAMM, i suggest not to use one of those accounts which have free excess because I am 100% sure they are scam, I myself lost 100% of
my account $5000 and a few weeks later an other one $ 10.000 and I was assured that at least one account promised to trade responsible, was responsible one year and suddenly the ?TRADER? became irresponsible and lost 100% of the entire account in 1 week or so

 

[henyo]

what pamm account are we talking about here? if I'm not mistaken pamms are managed by traders of managers alike, losing money on pamm, doesn't really say the broker is scam for gods sake, u your self said that the trader lost it in a week. TRADER! I guess that's reffering to the account manager or trader. there is 500 pamm accounts on hotforex, which one are you referring to?

 

[CharlesK]

Hi

I am new to this great forum! I have done some stock and CFD trading, but new to forex.

I have done some research and came across these terms & conditions from Hotforex posted on their website with regards to withdrawals :

- Withdrawals are always made using the same payment method/gateway that was used to make the initial deposit;

- We cannot send more funds back to your credit card than initially deposited; If additional amounts need to be withdrawn they will be sent using an alternative payment gateway (i.e. Wire Transfer or any e-wallet)

- Funds cannot be refunded to expired credit/debit card;

- Should credit/ debit card deposits be received, all withdrawals up to the amount of total deposits by credit/ debit card will be processed back to the same credit/ debit card on a priority base.
- Deposits via Visa/ Mastercard that were executed more than 6 months ago cannot be withdrawn using the same payment method. Funds will be sent via an alternative method in the event of a withdrawal request being made by the Client.
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What it effectively is saying is that withdrawals will be treated in the same manner as a refund - within 6 months and not more than initial deposit. additional amounts (profits) can only be withdrawn to other accounts.

Should I be concerned or is this normal?

 

[Pharaoh]

Most brokers accepting credit card deposits do this. I believe it lets them save some transfer fees.

 

[henyo]

its pretty much standard for credit card withdrwals really, I think most if not all broker do this due to anti money laundering laws, thats why most suggest the use of third party money processors like skrill webmoney neteller etc, or basically doing a wire transfer, I think most trader are aware of this as well

 

[bigdolly]

Hi

I am new to this great forum! I have done some stock and CFD trading, but new to forex.

I have done some research and came across these terms & conditions from Hotforex posted on their website with regards to withdrawals :

- Withdrawals are always made using the same payment method/gateway that was used to make the initial deposit;

- We cannot send more funds back to your credit card than initially deposited; If additional amounts need to be withdrawn they will be sent using an alternative payment gateway (i.e. Wire Transfer or any e-wallet)

- Funds cannot be refunded to expired credit/debit card;

- Should credit/ debit card deposits be received, all withdrawals up to the amount of total deposits by credit/ debit card will be processed back to the same credit/ debit card on a priority base.
- Deposits via Visa/ Mastercard that were executed more than 6 months ago cannot be withdrawn using the same payment method. Funds will be sent via an alternative method in the event of a withdrawal request being made by the Client.
------------
What it effectively is saying is that withdrawals will be treated in the same manner as a refund - within 6 months and not more than initial deposit. additional amounts (profits) can only be withdrawn to other accounts.

Should I be concerned or is this normal?

Part of AML policy. Majority of regulated brokers follow this practice, so you can feel safe with such brokers I guess.

 

[navyseal]

If someone is getting trouble with CC, as you don't want to leak your CC infor. Another good way to deposit is buying some Skrill money and fund from your Skrill account.

 

[pipdreaming]

its pretty much standard for credit card withdrwals really

I think most if not all broker do this due to anti money laundering laws,

thats why most suggest the use of third party money processors like skrill webmoney neteller etc,

or basically doing a wire transfer, I think most trader are aware of this as well

I think they just save money by "refunding" the original CC deposit. It's not really a withdrawal but more of a refund.