RESOLVED Hotforex is Scam stay away from them

Muhammad Aqeel

Recruit
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Dear Members.

My Nmae is muhammad aqeel and i opened an account with hotforex hotforex ID 265871 and my pamm account id is 1113468 i was trading with them since 2 to 3 months had some issues previousley bit not considered seriousely my account balance was 2800USD i also earned some profit today my account is wipedout when GBP rally i was long on GBP/CHF and GBP/USD my issue is hotforex scamed me during this rally with showing different prices i also had account with XM broker ID 20029347 when i campare hotforex price charts with XM i was stunned that there is arround 400 pips price difference on GBP/USD pair and 700 Pips difference on GBP/CHF pair if they shows the price which XM is showing my account ealsiy survive after that i checked all GBP pairs there is 300 to 700 pips difference on all GBP pairs due to this difference my account is wiped out 700 pips is huge any ones account can be wipedout when i ask the support tem they said contact tradingdesk i sent an eamil to them and waiting for reply for you reference snaps shots of both broker attached please guide me for further action as this happens for the first time if anyone had experience please help me out

For your reference screenshots are attached for both broker
 

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  • XM GBPJPY.png
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  • Hotforex GBPCHF 1.png
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  • Hotforex GBPUSD.png
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  • XM GBPUSD.jpg
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Also please check account history snap shot where my positioned are closed on XM broker price never reached there
 

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GBPCHF fall 760 pips on another broker chart.
GBPUSD fall 787 pips.

On HotForex chart :
GBPCHF fall 1295 pips
GBPUSD fall 980 pips
 
Last edited:
Your problem is that you not used stop loss and added to loosing position in hope you'll catch the bottom, not that Hot Forex was not fair.
GBP is fu***d pair for the coming months because of Brexit, and today BOE just marked the acceptable minimum of GBP pairs.

"Macquarie says all technical support for GBP has been eradicated and that the currency is doomed in the upcoming months"
 
Last edited:
Your problem is that you not used stop loss and added to loosing position in hope you'll catch the bottom, not that Hot Forex was not fair.
GBP is fu***d pair for the coming months because of Brexit, and today BOE just marked the acceptable minimum of GBP pairs.
dear see your own words GBP falls 760 pips and when i told you with hot forex 986 and 1295 pips now you are telling me Brexit BOE and stop losses please dont comment if you are not seeing thing with in right direction XM broker chart showing GBPCHF falls 668 pips and hotforex 1295 is it fair when market is more volitiel you broker can print charts on his own wish
 
please dont comment if you are not seeing thing with in right direction

What if you were the other side of the trade ? What is the right direction? Forex market is not a centralized market and every broker can have different quotes in moments when there is high liquidity.
It's easy to blame everybody except you for your failure. I understand your frustration but this kind of mistakes are made in DEMO accounts only.
 
What if you were the other side of the trade ? What is the right direction? Forex market is not a centralized market and every broker can have different quotes in moments when there is high liquidity.
It's easy to blame everybody except you for your failure. I understand your frustration but this kind of mistakes are made in DEMO accounts only.
Dear i checked you history and profile you had histroy of defeding hotforex you already got comments form othe people i will not say much about that
check comments on this link
https://www.forexpeacearmy.com/community/threads/hotforex-scam-bastard-son-of-broker.42975/
 
Thanks to FPA forum and Hotforex Trading Desk team for there urgent support my issue is resolved and every thing is fine hope for the best in future

Appericated hotforex team for quick response
 
This is why its a good idea to contact the broker's support and give them at least 24-48 hour to look into the issue.
 
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