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

Discussion in 'Forex Insanity' started by Ed_Forex, Jan 17, 2015.

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  1. Ed_Forex

    Ed_Forex Private, 1st Class

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    The market had not gap. If there was any gap like weekend gaps, there will be cuts in candle, on hotforex chart of eurchf the 1 and 5 minute candle shows dark bear candles from 1.20095 to 1.1445, so hotforex claim of no liquidity is a big cheat.

    Right, $1500 per pip move for all positions, implies all must had been closed by hotforex at over leverage margin requirement at 1.1999 when hotforex obliged to monitor positions and accounts as hotforex margin policy says and since there was liquidity unless all hotforex charts are fake so it must announce that it's a market maker and cheater, other than that hotforex must pay me $14770.25
     
  2. Ed_Forex

    Ed_Forex Private, 1st Class

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    Hotforex Biggest Scandal Broker of all time

    hotforex bonus policy:

    11. The maximum amount that can be awarded in this bonus promotion is 30,000 USD (or any other currency equivalent) per trading account. If a Client has multiple trading accounts, then the sum of the bonus awarded for ALL of the Client's trading accounts cannot exceed 100,000 USD (or any other currency equivalent).

    hotforex gave me per account 269022 Total Bonus Awarded: 136602.05 USD

    HF Markets Ltd
    Bonus Awarded Statement
    A/C No: 269022 Date: 2015-02-06 00:00:00

    Balance: 20 USD
    Equity: 20 USD

    Bonus Type: 100% Credit Bonus
    Total Bonus Awarded: 136602.05 USD
    Bonus Removal: -136602.05 USD
    Current (Active) Bonus: 0 USD

    Balance Net of Bonus: 20 USD
    Equity Net of Bonus: 20 USD
    Floating P/L: 0 USD

    Best regards,
    Accounts Department


    By this, scammer hotforex breached the contract by encouraging a "retail client" to trade on extreme high risk and reckless trading resulting in the loss conceded in account.

    I request regulatory bodies FSA Mauritius and CySec governing hotforex to protect me as a retail client that is guaranteed highest protection by regulators, obliging hotforex to pay me my losses fully due to hotforex inserting consistently 4.55 times the max. bonus amount allowed per account that resulted in my loss, hotforex even exceeded the total bonus awarded per all accounts!!!!!

    Exploding Proof of hotforex scam and disgrace talks for itself.
     
  3. lemarche

    lemarche Recruit

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    This thread is a CLASSIC example of:
    poor chump getting drawn by greed to an "hustler" offer...

    The 100% bonus does NOT exist... It is money that never hits your account... Instead it is just EXTRAleverage...

    Say you deposit 1000$ with 1to50 leverage, thanks to the offer you can now trade 2000$ with 50 leverage.

    BUT, what you REALLY are trading is STILL 1000$ BUT with a 1to100 leverage !!!

    PLUS, I would be VERY surprised if the level of STOP OUT of HotForex is set at 100%...
    VERY VERY surprised indeed since it is their best way to take money from customers (am not talking abt HF specifically, but all CFD brokers...)

    So your margin CAN go below 100%...

    Your trade will be stopped out at the highest equity of:
    A- STOP OUT level, which could be anywhere between 30% and 50% of REQUIRED margin, but DEFO not 100%.....
    B- total loss of EQUITY (say you deposited 1000$, they "give" you (GIVE: hahahha !!!...) 1000$ BS money... as soon as your equity goes to 1000$, you just lost your EQUITY, not the bonus that never existed in the first place...)


    You ve just been hustled (not scammed) by an attract-the-greedy offer, that you did not properly understand.
     
  4. Ed_Forex

    Ed_Forex Private, 1st Class

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    Mr. Recruit 1 Post: There was no stop out level no over leverage % nor margin requirement applied, hotforex left account go to negative balance.

    About bonus given more than max. amount that hotforex bonus policy states by 4.55 times conclude that hotforex breached the contract AND by that encouraged the "retail client" to use high risk reckless gambling(whatever you like to name it) trading that directly resulted in account blown.

    In law, hotforex takes full responsibility for such scam action, instead of hotforex warning retail clients about risk of trading on over leverage, hotforex encouraged risky trading by providing mad bonus amount extremely over what hotforex bonus policy say.

    As a retail client, I request CySec and FSA Mauritius to oblige hotforex give me back all my account losses and withdraw the license from hotforex because it breached the basic rules set for hotforex to run business, which is first warn retail clients of market high risk, not breaching the contract by offering retail clients over the max. amount of bonus that's already big amount ($30K) compared to what % of bonuses and limits on it offered by other brokers.
    How when hotforex gave 136602.05 USD !!! to a retail client, that proves hotforex just a market maker.
     
  5. joneslds

    joneslds Corporal

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    Mauritius and Cyprus are two tax havens , their "regulatory bodies" for me are the same as nothing, just look in forum to see if CySec helped someone to recover their money. ( the real problem is that you risked all your money in a single trade and lost everything ).
     
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  6. Ed_Forex

    Ed_Forex Private, 1st Class

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    Your words mean nothing for the legal view. No wonder why less clients get their money from scam brokers like hotforex if they'll think that "Mauritius and Cyprus" regulators are nothing! If you found your money on the streets and don;t want to bother asking scam broker for it, others are not in your position!!!

    The real problem is scammer hotforex breached the contract by giving retail client more than the allowed bonus amount by nearly 5 times!!! and hotforex will pay for that by license removal by regulators and paying me my money complete.
     
  7. NanaR

    NanaR Corporal

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    hey Ed, I read the latest T&C for the 100% credit bonus it says no stop out level at all... which means your negatives will keep running until account goes broke.

    do you have a copy of the older T&C for us to compare with?

    thanks!
     
  8. Ed_Forex

    Ed_Forex Private, 1st Class

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    Who can go back to past terms and conditions to reveal hotforex scam but hotforex marking date as august 2014 already enough proof its always changeable policies!!!

    Anyway, my case now extended to how scammer hotforex deceived a retail client(me) by giving extreme bonus than hotforex bonus policy says, resulting in account negative balance.

    So, am now requesting hotforex take full responsibility of breaching the contract, covering all my account losses.

    Hotforex bonus policy:

    11. The maximum amount that can be awarded in this bonus promotion is 30,000 USD (or any other currency equivalent) per trading account. If a Client has multiple trading accounts, then the sum of the bonus awarded for ALL of the Client's trading accounts cannot exceed 100,000 USD (or any other currency equivalent).

    Further proof for more transparency(attached) ed_forex.
     
  9. Ed_Forex

    Ed_Forex Private, 1st Class

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    Now, hotforex has 2 cases filed against, the first by breaching the contract of margin policy point by not using any margin call, stop out, margin requirement, over leverage method, instead hotforex left account to negative balance, making an illegal excuse of no liquidity in an over $5 trillion transactions per day market and during London session second hour after open.

    And the second scam case by breaching the contract of bonus policy maximum amount rewarded per account for a client that's 30,000 USD, hotforex rewarded 136602.05 USD !!! encouraging by that a retail client(me) who's provided by highest protection of regulators, to trade in over leverage extreme high risk conditions.

    FSA Mauritius and CySec are after hotforex in both cases that will result in hotforex paying me for all the losses resulted in hotforex breach of contract and hotforex is in a serious danger of loosing its license from both regulators for breaching the basic terms that's warning clients against high leverage and market risks, not rewarding retail clients with extreme bonuses as hotforex had done that resulted in massive losses.
     
  10. Ed_Forex

    Ed_Forex Private, 1st Class

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    Let this be clear once and for all, and for who want to read this message well.

    I am the complainant, hotforex is the defendant. Nobody can change this by playing the role of the investigator and asking me questions instead of it being toward hotforex.

    Who want to play that role or the role of hotforex lawyer from under the table for obvious reason found wherever you look at around here, must announce that clearly to the public and tell us what hotforex want to say or make themselves a favor by asking hotforex to come here and defend itself, not picturing as if a mediator in my case while the person receiving whispers commands from hotforex to ask the complainant doubtful questions, but don't worry the hole hotforex had put itself in is very deep, the charges had fit it already.

    I provided all necessary proofs of hotforex scam for the public, other scam cases had condemned the broker from the first few posts for reasons we all know about, I understand that money talks at end in such cases. Detailed information that touch my privacy will not be provided on forums, it had been sent all to the regulators CySec and FSA Mauritius.

    I am not obliging anyone to believe me but my legal proofs of hotforex breach of contract in many points, hotforex no contribution except a single dead scandal reply, read the whole case carefully from the beginning and the public be the judge.

    My case against hotforex is a public opinion now, nobody have the right to hide it in the drawer for reasons far of democracy and public decision, it being raise to public voting is obligatory.
     
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