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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. alfexcy

    alfexcy Private

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    I see... And just below that they say:

    "Although the margin call feature is designed to close positions when account equity falls below
    the margin requirements, there may be instances when liquidity does not exist at the exact
    margin call rate. As a result, account equity can fall below margin requirements at the time
    orders are filled, even to the point where equity account becomes negative. This is especially
    true during market gaps or volatile periods. HotForex will not hold traders responsible for
    deficit balances in this scenario, but clients should be aware that all funds on deposit in an
    account are subject to loss."

    Which brings us back to my second question to you which you didn't answer..
     
  2. Ed_Forex

    Ed_Forex Private, 1st Class

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    I no more reply to recruit of Jan 2015 who want to defend hotforex, they who sent you here, tell hotforex to come here and defend themselves.
     
  3. Ed_Forex

    Ed_Forex Private, 1st Class

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    To add important note about hotforex no transparency in its system between withdrawal, bonus, free margin, stop out and equity.

    I explained how hotforex changed its withdrawal policy from being able to withdraw profits without bonus removal, to deducting same amount from bonus if any profits are withdraw. But this change didn't implement on other parts like when there are open positions and client want to request withdraw of profits, hotforex refuse that automatically from its system in the my hotforex where clients can manage their deposits, withdrawal and others.
    When asked hotforex why? they told me because there's no enough free margin for that. In my case shown my floating P/L equity and others in my first post I couldn't withdraw any profits from account at that time. What can be concluded then? Hotforex using free margin at withdrawal to refuse requests because it wants to protect the bonus amount in account FROM FREE MARGIN, but when it comes to trading hotforex dismisses the importance of free margin and don't apply its policy of when equity = margin requirement all open positions close from hotforex end.

    Please, I don't want to have any bad contact with any member of forexpeacearmy who want to defend the broker. Let it defend itself unless there's any hidden agenda for doing so.
     
  4. bigdolly

    bigdolly Sergeant Major

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    Hm.. Your post has put me on alert a bit.. Could you specify the pairs you hold positions on and time of trading?
     
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  5. Ed_Forex

    Ed_Forex Private, 1st Class

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    Corporal, Daily Confirmation before - Balance:

    Open Trades:

    Ticket Open Time Type Size Item Price S / L T / P Price Commission R/O Swap Trade P/L
    118029813 2015.01.05 00:14:30 buy 50.00 eurchf 1.20250 0.00000 1.20750 1.20088 -500.00 0.00 -7 951.94
    118054707 2015.01.05 00:25:52 buy 50.00 eurchf 1.20220 0.00000 1.20750 1.20088 -500.00 0.00 -6 479.35
    118054907 2015.01.05 00:25:48 buy 50.00 eurchf 1.20230 0.00000 1.20750 1.20088 -500.00 0.00 -6 970.21
    -1 500.00 0.00 -21 401.50

    Floating P/L: -22 901.50

    Working Orders:
    Ticket Open Time Type Size Item Price S / L T / P Market Price
    No transactions

    A/C Summary:

    Previous Ledger Balance: 82 322.52 Floating P/L: -22 901.50
    Closed Trade P/L: 0.00 Total Credit Facility: 0.00
    Deposit/Withdrawal: 0.00 Equity: 59 421.02
    Balance: 82 322.52 Margin Requirement: 44 770.25
    Available Margin: 14 650.77

    After - Balance:

    Closed Transactions:
    Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission R/O Swap Trade P/L
    118029813 2015.01.05 00:14:30 buy 50.00 eurchf 1.20250 0.00000 0.00000 2015.01.15 11:30:48 1.19570 -500.00 0.00 -33 400.13
    118054707 2015.01.05 00:25:52 buy 50.00 eurchf 1.20220 0.00000 0.00000 2015.01.15 11:30:48 1.19504 -500.00 0.00 -35 191.19
    118054907 2015.01.05 00:25:48 buy 50.00 eurchf 1.20230 0.00000 0.00000 2015.01.15 11:30:48 1.19552 -500.00 0.00 -33 315.65
    118273652 2015.01.15 11:30:50 balance BONUS REMOVAL: 30000.00/-21084. -30 000.00
    118273654 2015.01.15 11:30:50 balance Balance correction 51 084.45
    118273675 2015.01.15 11:30:51 balance BONUS REMOVAL 0.00
    -1 500.00 0.00 -101 906.97
    Deposit/Withdrawal: 21 084.45 Credit Facility: 0.00 Closed Trade P/L: -103 406.97

    Open Trades:
    Ticket Open Time Type Size Item Price S / L T / P Price Commission R/O Swap Trade P/L
    No transactions
    0.00 0.00 0.00
    Floating P/L: 0.00

    Working Orders:
    Ticket Open Time Type Size Item Price S / L T / P Market Price
    No transactions

    A/C Summary:
    Previous Ledger Balance: 82 322.52 Floating P/L: 0.00
    Closed Trade P/L: -103 406.97 Total Credit Facility: 0.00
    Deposit/Withdrawal: 21 084.45 Equity: 0.00
    Balance: 0.00 Margin Requirement: 0.00
    Available Margin: 0.00
     
  6. Ed_Forex

    Ed_Forex Private, 1st Class

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    There was no trading going on, trades open from 10 days to the - Balance day.
     
  7. bigdolly

    bigdolly Sergeant Major

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    Which pair or pairs you held for 10 days before you got blown up and what was the volume as I can't really understand how can they do that to you.
     
  8. Ed_Forex

    Ed_Forex Private, 1st Class

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    Please be patient, everything shown in my pending approval post.
     
  9. Ed_Forex

    Ed_Forex Private, 1st Class

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    My account daily confirmation before and after - balance

    Open.

    Close.
     
  10. alfexcy

    alfexcy Private

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    no dude, i'm not affiliated nor am i defending any broker.. all i am trying to defend is myself because i'm trading with them and even though i visit FPA almost daily the last few months, i never had the need to post before and this is why i'm a new member but this doesn't mean i don't know about trading.

    Regarding your case, first of all, i'm sorry that you lost so much money but i still fail to understand how they "scammed" you $14K tbh and judging from @bigdolly's questions, it's not only me who didn't understand. Apart from this, looking at your statements... 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.
     
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