Hey hotforex, not willing to participate in this thread? The consistent use of sentences like "everything is correct, valid spikes" as excuses for hotforex scam actions will end soon when FSA Mauritius and CySec remove your license, although it needs guts to do that, maybe those regulators will join ASIC in Real Action Soon.
Conspiracy Theory - Hotforex Scammed me $14770.25 - Because I gave myself a margin call
- Thread starter Ed_Forex
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Hey Ed, at least they have not yet been caught getting staff to pretend to be retail traders (like us) and post aggressively in their defence, and submit 5 star reviews in other forums lol. Yup, icmarkets has Joshi / Joshi90 in forums who is actually their staff doing that!
In a way, looks like icmarket is the bigger of the 2 scammers here. At least hot doesnt charge u funding fees, withdrawal fees, no screen glitches etc and no USDCHF 0.05 right? Icmarkets has all of this and more!
But hey, good luck with your case. I am also gonna need luck on mine.
Who said hotforex didn't do that scam too. What is sure, hotforex buy clients votes or ratings by paying back the scammed money when it's a small amount and obliging clients to post again that the problem is solved and give 5 rating.
hotforex apply withdrawal fees, and have wrong data feed between chart and market watch pairs prices that's a fixed 0.5 pip difference, and for 0.05 they didn't have to do that 2000 pip was enough to rob all clients accounts money and like money makers turn it back to zero balance, saying they gave favor to clients when hotforex policy oblige it to be responsible of negative accounts.
We'll have to wait for regulators decisions, hopefully it does not take much time and many clients complaints for them to act quickly.
hotforex apply withdrawal fees, and have wrong data feed between chart and market watch pairs prices that's a fixed 0.5 pip difference, and for 0.05 they didn't have to do that 2000 pip was enough to rob all clients accounts money and like money makers turn it back to zero balance, saying they gave favor to clients when hotforex policy oblige it to be responsible of negative accounts.
We'll have to wait for regulators decisions, hopefully it does not take much time and many clients complaints for them to act quickly.
I don't know how much time CySec and FSA Mauritius take to reply to clients complaints against brokers. My rely would be on CySec to pressure the scammer hotforex and flagging the license removal more than FSA Mauritius doing anything in favor of a foreigner against a local company even if it's a scammer named hotforex. Time will tell us the quality of both regulators regarding clients complaints, not just being a collector of money from brokers to give licenses in exchange!!
Scammer Hotforex in Accusation Cage
The Scammer Hotforex is now in the Accusation Cage waiting for mercy from me and the regulators.
The accusations are:
1- Breaching the contract by giving retail client(me) a bonus amount over the $30000 stated in hotforex bonus policy.
2- Breaching the contract by skipping hotforex margin policy that's full of legal meaning and going to choose the bonus policy that's empty of any legal meaning, just a conclusion to what might happen when hotforex breach its margin policy.
3- Breaching the contract by not respecting the gapping policy that states pending orders kept after friday close will be filled on Monday open at the new price of the gap, not the same set price of friday as scammer hotforex had done, that proves with no doubt that hotforex is a pure market maker.
4- Offending a retail client in public by attaching the hints of ignorance and stupidity in hotforex reply on FPA
5- Hotforex cheating its clients by saying it made them favor of covering negative balances to zero when within hotforex policy it states that the responsibility replies on hotforex and only hotforex to do that obliged.
All these accusations are in the hands of the public to reveal for hotforex clients to be aware of and stop their business with the scam broker hotforex.
The Scammer Hotforex is now in the Accusation Cage waiting for mercy from me and the regulators.
The accusations are:
1- Breaching the contract by giving retail client(me) a bonus amount over the $30000 stated in hotforex bonus policy.
2- Breaching the contract by skipping hotforex margin policy that's full of legal meaning and going to choose the bonus policy that's empty of any legal meaning, just a conclusion to what might happen when hotforex breach its margin policy.
3- Breaching the contract by not respecting the gapping policy that states pending orders kept after friday close will be filled on Monday open at the new price of the gap, not the same set price of friday as scammer hotforex had done, that proves with no doubt that hotforex is a pure market maker.
4- Offending a retail client in public by attaching the hints of ignorance and stupidity in hotforex reply on FPA
5- Hotforex cheating its clients by saying it made them favor of covering negative balances to zero when within hotforex policy it states that the responsibility replies on hotforex and only hotforex to do that obliged.
All these accusations are in the hands of the public to reveal for hotforex clients to be aware of and stop their business with the scam broker hotforex.
Scammer hotforex breached point 11 in the contract of maximum bonus given per account and all accounts too!!!
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).
Come here scammer hotforex and tell the public how you gave a retail client that have highest protection of regulators an extreme amount of bonus more than your bonus policy states??
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).
Come here scammer hotforex and tell the public how you gave a retail client that have highest protection of regulators an extreme amount of bonus more than your bonus policy states??
Ed_Forex revealing hotforex new discovered scam
Days passing, scammer hotforex wasting time, and am discovering new hotforex scams.
scammer hotforex revealed its cheat by its own hand.
In hotforex bonus policy that was changed in August 2014, scammer hotforex not only reveal its disgrace in changing its policy points but also assures the contradiction within its own policy, just as scam companies do, always adding 2 points that one contradict the other, to use later on against clients.
Ed_Forex revealing hotforex new discovered scam:
hotforex last changed bonus policy:
Point 17:
17. Unless all requirements of the program are met, you can withdraw no more than your
original deposit plus profits (or minus losses) at any time. Once the original deposit is
removed, the bonus is lost. If a part of the original deposit is withdrawn the bonus is
removed on a pro rata basis, therefore there will be a partial bonus removal. Each
withdrawal is subject of bonus removal as per calculation in point 15.
This sentence: "Each withdrawal is subject of bonus removal as per calculation in point 15 " ""underlined"" by hotforex in the bonus policy pdf, to approve on it to be an added sentence in the new changed policy.
What point 15 says:
15. When a Client makes a withdrawal from their account, they will be subject to a
proportionate removal of the bonus amount awarded. The formula used by the system
regarding Bonus Removals following a withdrawal request is: WITHDRAWAL AMOUNT X
1 (100%). For example: If a Client withdraws 100 USD from their account, 100 USD will
be deducted automatically from the 100% bonus amount that had been previously
claimed and awarded.
The whole world people viewing this thread and reading the above clearly discover hotforex scam in not just adding sentences and changing its policy but also adding points that contradict other point in its policy.
Point 15 says a thing and point 17 contradicts it.
Before the change in adding "Each withdrawal is subject of bonus removal as per calculation in point 15." and others.
hotforex clients(like me) were withdrawing profits without any bonus removed from account when deposited amount is not withdrawn but only profits.
This happened when the Point 15 and Point 17 existed without the added underlined sentence.
So, hotforex already had 2 contradicting points in its policy, because what is the reason for point 15 when point 17 exist !?
The reason is clear, to use one of it when necessary to scam clients.
Even after the addition of the underlined sentence, what is the reason of keeping both point 15 and 17 in hotforex bonus policy??!!
Same reason of using any of it as hotforex had and still doing in all its policies to deceive and cheat clients when necessary.
hotforex changed its policy and from the points added was "Each withdrawal is subject of bonus removal as per calculation in point 15."
because scammer hotforex found that clients withdrawing profits limits hotforex control of scamming clients money, while when hotforex changed the policy to for every withdraw amount even if its profits not deposits, the same amount will be withdrawn from bonus, by this scammer hotforex had bet that clients may think hundred times before withdrawing any money, not even profits.
And, in this way, scammer hotforex bet on more greedy of clients in using higher margin and lots to open positions that results in more loss that is the best dream, wish and hope of hotforex as a market maker trading against clients.
Days passing, scammer hotforex wasting time, and am discovering new hotforex scams.
scammer hotforex revealed its cheat by its own hand.
In hotforex bonus policy that was changed in August 2014, scammer hotforex not only reveal its disgrace in changing its policy points but also assures the contradiction within its own policy, just as scam companies do, always adding 2 points that one contradict the other, to use later on against clients.
Ed_Forex revealing hotforex new discovered scam:
hotforex last changed bonus policy:
Point 17:
17. Unless all requirements of the program are met, you can withdraw no more than your
original deposit plus profits (or minus losses) at any time. Once the original deposit is
removed, the bonus is lost. If a part of the original deposit is withdrawn the bonus is
removed on a pro rata basis, therefore there will be a partial bonus removal. Each
withdrawal is subject of bonus removal as per calculation in point 15.
This sentence: "Each withdrawal is subject of bonus removal as per calculation in point 15 " ""underlined"" by hotforex in the bonus policy pdf, to approve on it to be an added sentence in the new changed policy.
What point 15 says:
15. When a Client makes a withdrawal from their account, they will be subject to a
proportionate removal of the bonus amount awarded. The formula used by the system
regarding Bonus Removals following a withdrawal request is: WITHDRAWAL AMOUNT X
1 (100%). For example: If a Client withdraws 100 USD from their account, 100 USD will
be deducted automatically from the 100% bonus amount that had been previously
claimed and awarded.
The whole world people viewing this thread and reading the above clearly discover hotforex scam in not just adding sentences and changing its policy but also adding points that contradict other point in its policy.
Point 15 says a thing and point 17 contradicts it.
Before the change in adding "Each withdrawal is subject of bonus removal as per calculation in point 15." and others.
hotforex clients(like me) were withdrawing profits without any bonus removed from account when deposited amount is not withdrawn but only profits.
This happened when the Point 15 and Point 17 existed without the added underlined sentence.
So, hotforex already had 2 contradicting points in its policy, because what is the reason for point 15 when point 17 exist !?
The reason is clear, to use one of it when necessary to scam clients.
Even after the addition of the underlined sentence, what is the reason of keeping both point 15 and 17 in hotforex bonus policy??!!
Same reason of using any of it as hotforex had and still doing in all its policies to deceive and cheat clients when necessary.
hotforex changed its policy and from the points added was "Each withdrawal is subject of bonus removal as per calculation in point 15."
because scammer hotforex found that clients withdrawing profits limits hotforex control of scamming clients money, while when hotforex changed the policy to for every withdraw amount even if its profits not deposits, the same amount will be withdrawn from bonus, by this scammer hotforex had bet that clients may think hundred times before withdrawing any money, not even profits.
And, in this way, scammer hotforex bet on more greedy of clients in using higher margin and lots to open positions that results in more loss that is the best dream, wish and hope of hotforex as a market maker trading against clients.
Another New Evidence of hotforex SCANDAL
Bonus Awarded Statement
support@hotforex.com 3/1/2015
To: ed@.com
support@hotforex.com
From: support@hotforex.com
Sent: Sunday, March 01, 2015 9:04:13 AM
To: edgar_awad@hotmail.com
HF Markets Ltd
Bonus Awarded Statement
A/C No: 237157 Date: 2015-03-01 00:00:00
Balance: 0 USD
Equity: 0 USD
Bonus Type: 100% Credit Bonus
Total Bonus Awarded: 36522.84 USD
Bonus Removal: -36522.84 USD
Current (Active) Bonus: 0 USD
Balance Net of Bonus: 0 USD
Equity Net of Bonus: 0 USD
Floating P/L: 0 USD
Best regards,
Accounts Department
Another hotforex account showing hotforex scandal in breaching the contract by giving me a retail client more than the max. $30000 amount that hotforex states in its 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).
For the paid members to defend scammer hotforex, this is an official email from the scammer hotforex, let it come tell us it is not REAL.
*Note this account had been stop from trading from over 8 month ago(before this case account was opened), but scammer hotforex keep revealing and reminding by itself of its cheat and disgrace in its policies and emails!!!
Bonus Awarded Statement
support@hotforex.com 3/1/2015
To: ed@.com
support@hotforex.com
From: support@hotforex.com
Sent: Sunday, March 01, 2015 9:04:13 AM
To: edgar_awad@hotmail.com
HF Markets Ltd
Bonus Awarded Statement
A/C No: 237157 Date: 2015-03-01 00:00:00
Balance: 0 USD
Equity: 0 USD
Bonus Type: 100% Credit Bonus
Total Bonus Awarded: 36522.84 USD
Bonus Removal: -36522.84 USD
Current (Active) Bonus: 0 USD
Balance Net of Bonus: 0 USD
Equity Net of Bonus: 0 USD
Floating P/L: 0 USD
Best regards,
Accounts Department
Another hotforex account showing hotforex scandal in breaching the contract by giving me a retail client more than the max. $30000 amount that hotforex states in its 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).
For the paid members to defend scammer hotforex, this is an official email from the scammer hotforex, let it come tell us it is not REAL.
*Note this account had been stop from trading from over 8 month ago(before this case account was opened), but scammer hotforex keep revealing and reminding by itself of its cheat and disgrace in its policies and emails!!!
Scammer hotforex website contain no such banner whatsoever, check by yourself https://www.hotforex.com/en/index.html
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