Conspiracy Theory - Hotforex Scammed me $14770.25 - Because I gave myself a margin call

Status
Not open for further replies.

Ed_Forex

Private, 1st Class
Messages
240
Upon some replies, I doubt some ever traded with respectful brokers like US or Swiss brokers.

For your info, in normal leverage trading, if equity goes to margin requirement, the broker will immediately close all open positions(that hotforex margin policy talk about) because client used the full margin to maintain the orders, other brokers hedge the positions asking client to add money to increase free margin, and some close positions partially until free margin is appropriate to hold the open positions. hotforex had done nothing of all.

in my case of over leverage trading, with a respectful broker, orders get closed by broker when % level of leverage used becomes 100 or 200%, which is yet far than equity reach to margin requirement,

for example if 10k account, client opens 50lots, when equity becomes half the balance or 5K, all orders get closed by broker because the client used more than the default 1:400 leverage, that's the first shield to defend the account from quick loss or even zero balance, then the second shield comes when equity goes below margin requirement that will automatically match with margin call and stop out.

hotforex had done nothing for all these basic trading rules of margin.
 

NanaR

Corporal
Messages
104
Hey Ed, i remember reading the new T&C if you get this bonus, you wont have any margin call or stop out level. Which means your negative trades will keep running until account is emptied out...

Was it like that when you signed up?
 

Ed_Forex

Private, 1st Class
Messages
240
Hey Ed, i remember reading the new T&C if you get this bonus, you wont have any margin call or stop out level. Which means your negative trades will keep running until account is emptied out...

Was it like that when you signed up?
Hey, they changed the whole bonus policy in august 2014. The biggest hotforex scandal is not just changing it but not applying the terms of the changed policy. They choose what they like to apply and neglect the other points.

For example: bonus per account is max. $30K, they gave me double and triple of that amount. bonus per all accounts of one client is $100K, i got more than that amount too!!!

Gapping policy says hotforex will execute pending orders after weekend gap at next available price but what hotforex had done is fill my pending orders at same set price of friday instead of of sunday gap price which proves too that hotforex is a market maker.

In new terms, hotforex decided that any amount withdrawn from profits, same amount will be withdrawn from bonus which was not the case when started trading with hotforex. I bet that they changed the rule to limit withdrawals of clients like myself that withdraw profits since hotforex is a market maker can't resist profits withdrawals.

I understand a broker that applies all its terms and conditions points as one package, but a broker like hotforex who applies what it likes in the contract proved to have breach the contract and is a market maker that does same hotforex acts of adjusting orders, gives additional bonuses breaking its policyetc
 

Ed_Forex

Private, 1st Class
Messages
240
This is one of hotforex terms:

6.3 If a Stop Out execution has resulted in a negative Balance of the Customer’s Trading Account, the Customer shall not be liable for this loss. Company makes an adjustment of the full amount of negative Balance from own resources.

Read scammer hotforex reply to me:

HotForex not only didn't request you to cover the over twenty thousand US dollars debt that your considerably over exposed positions generated on your account but as well have allocated, from its own resources, enough funds to cover the shortfall left after the stop loss occurred.

So, hotforex have a policy that says customer not liable for loss but it's the company responsibility to cover full amount of negative balance, but the dumb scammer hotforex giving me favor of covering the negative balance!! All investors can imagine the disgrace and cheat other than the stupidity of hotforex with such reply.

The same reply the other cheater FXCM had done to its clients then telling them they forgive clients!!!

As if I want going to give cheater hotforex a penny if they asked for, with their policy or without, 2a3la ma bkhelon yerkabu;)
 

Ed_Forex

Private, 1st Class
Messages
240
My complaint against hotforex have been escalated to the CySec regulatory body after I had filed a complaint against hotforex at FSA Mauritius regulatory body.

Like I had promised hotforex, this is just the beginning, the whole world and regulatory bodies will know about your scam toward me.

Hotforex must think carefully to pay me my $14770.25 as soon as possible unless.....LAW

This and all my past posts are not threats. I don't threat, I act against scammers like hotforex in all legal ways that's my full right, this is why hotforex crying afraid of my actions and threatening me in front of the public to stop me from exercising my legal rights toward regulatory bodies and any authority when necessary.
 

joneslds

Corporal
Messages
87
Ed HotForex leaves you open trades with lot size 50, WTF !, this is very big! I think it's too high, and you opened 3 trades with this size,

Leverage 1: 400 + 3 size of Lots 50 , burned all your account in a few seconds .
 

joneslds

Corporal
Messages
87
Ed HotForex leaves you open trades with lot size 50, WTF !, this is very big! I think it's too high, and you opened 3 trades with this size,

Leverage 1: 400 + 3 size of Lots 50 , burned all your account in a few seconds .
what can i say. You had 150 standard lots long EUR/CHF during the SNB release last week (!!!!!). You obviously blew up your account because of your risky gambling (you don't call this trading...) style and you even caused this broker an additional $51K because it seems they zeroed your negative balance after you stopped out .
 

Ed_Forex

Private, 1st Class
Messages
240
Hahaha scammer hotforex sends another paid boy to attack me with words of empty legal meaning.'

Hey boy, the //risky gambling// you talked about is named over leverage that is a benefit for the client at any respectful broker because it is an advanced defense against margin call not even stop out, zero and negative balance., if scammer hotforex respected its margin policy, all open positions must had been closed at worst for $14770.25 Balance for me to withdraw.

///caused this broker an additional $51K// hahahaha when scammer hotforex claim to be ECN why did it loose dumb???

hotforex like most who lost was a result of being a market maker, no orders in real market, others lost because of bad operative system with LP's.
 

Ed_Forex

Private, 1st Class
Messages
240
I talk legal points, others who are paid to reply with nonsense words taught by scam broker, filled your minds to a degree that you never know your legal rights to ask for.

I no longer wonder why 95% of traders loooooooose when i read all surprised of 150 lots, ofcourse you'll all loooooose even if 95% are long on usdchf and 5% are short, the short traders have balls, they trade the 150 1000 5000 lots, while traders like you who have micro mini accounts have no influence on market.

Briefly, SNB release, black swan, 150 lots, hotforex said couldn't close my orders due to no liquidity.....all this nonsense have no legal meaning.

SNB and no liquidity?? Support your claims with proofs of liquidity providers names and prices to regulatory bodies and later to court.

Tell the regulatory bodies and court how a 3 trillion+ liquidity market had no liquidity in London Session???

I feel sorry for you guys, no wonder why you keep on scammed time and time whining without knowing your lwgal rights, scam brokers as hotforex laugh at you with some illegal words to shut you up!!!
 

Pharaoh

Colonel
Messages
19,902
Those 3 positions were 50 lots each. That means each pip of movement against you cost your equity, balance, and available margin somewhere in the neighborhood of $1500. When the market gapped against your positions you went negative across the board.
 
Status
Not open for further replies.
Top