Discuss HFM.com (was HotForex.com)

[holycow]

Feel free to share your experience with this card as i am also looking for skrill alternative so i may give it some thoughts if it is really convenient.

 

[navyseal]

I am using Payoneer and it's really a great choice than other e-processor, however, it's not supported Forex.

 

[henyo]

payoneer is ok, the fees are a bit high, they used to be offered at hotforex in 2015 but not anymore i guess. i used to have that card as well.

 

[navyseal]

What fee? I dont' see any fee in using Payoneer except the low exchange rate.

 

[alzahif]

Hello everyone..respect for all
There is an event happen with me few days back I was open sell in crazy ie gbpjpy later when it loss I opened buy position both in same lot size..so normally my account will not blown at all but what happened is something make me suspect broker..so I need help from FPA to reassure me or what I have to do..specially I contact support of broker they explain the reason is rollover and widening spread that appear end of the day..is it true?reply from broker:
Dear Client,

Thank you for contacting us

Please note that hedged positions #255978761 and #256080727 were stopped out due to spread widening during rollover and the fact that the free margin level was lower than the 20%, which is the stop out level for Premium accounts.

Please note that the during the time period from 23:55 to 00:05 server time increased spreads and decreased liquidity can take place due to daily bank rollover. In case of inadequate liquidity/spreads during bank rollover, widened spreads and excessive slippage may occur.

It is important to note that even a fully hedged account may suffer losses due to rollover costs, exchange rate fluctuations or widening spreads. Such losses may even trigger a Margin Call/Stop out.

During a hedged position stop out, the bid price decreases and the ask price increases (spread widens), this is the inverse of the relationship between bid – ask during normal market conditions!

In a hedged position, your sell trades are closed by the ask line, and the buy trades are closed by the bid line. Normally, the loss of one position will be offset by the gain of another. However when the spread widens like this, both positions create losses and can cause a stop out as was the case with your account.

Your account was very close to stop out before the rollover and the spread widening during the rollover caused the equity to go below the required margin level resulting in the correct closure of the positions.

We remain at your disposal.

 

[pipdreaming]

payoneer is ok, the fees are a bit high, they used to be offered at hotforex in 2015 but not anymore i guess. i used to have that card as well.

yeah i also used to have their card but the very minimum fee is 2%, because they charge 1% for receiving money and then minimum 1% for spending even if its all in USD

 

[henyo]

there is now a charge on payoneer for spending seriously? thats a rip off..

 

[pipdreaming]

there is now a charge on payoneer for spending seriously? thats a rip off..

The charge was always there. They just hide behind some "out-of-country" fees. Basically any money you spent outside of Belize they will charge you 1%

 

[navyseal]

Payoneer exchange rate is not high (their earning). But it's still higher than Paypal.

 

[bigdolly]

yeah i also used to have their card but the very minimum fee is 2%, because they charge 1% for receiving money and then minimum 1% for spending even if its all in USD

Its not fees from Hotforex but from Payoneer right?