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

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Ed_Forex

Private, 1st Class
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If volume requirements are not met and the equity of the account goes below the bonus
amount then the bonus is removed automatically by the system. In other words, if the
Cash Equity (Equity - Credit Bonus) becomes zero or less, all previously awarded Credit
Bonuses will be cancelled and withdrawn from the respective Client’s account. In these
circumstances the Company shall not be liable for any consequences of the bonus
cancelation, including, but not limited to, order(s) closure by Stop Out.


This paragraph in hotforex bonus is empty of meaning because it lacks legal authority, it's just as if telling a story of if this happens, this will happen, which is obvious if hotforex leave orders open to negative balance, that will happen.

Knowing that I had many times posted that paragraph in my replies on this thread.

The legal authority shows in this paragraph:

If account equity falls below margin requirements, the HotForex Trading Station will trigger an order to close all open positions. When positions have been over-leveraged or trading losses are incurred to the point that insufficient equity exists to maintain current open positions, a margin call will result, and open positions must be liquidated.
Please keep in mind that when the account's useable margin reaches zero, all open positions are triggered to close. The margin-call process is entirely electronic, and there is no discretion on HotForex's part as to the order in which trades are closed. Such discretion would require HotForex to actively monitor positions and accounts.

This hotforex policy your company failed to apply.
 

NanaR

Corporal
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101
Right now I am quite worried. I read that brokers in Australia, Cyprus and Mauritius are allowed to use client money for their own firm's trades/bets.

Man, what do we do?
 

Ed_Forex

Private, 1st Class
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240
//////////////Yes this is correct. But the reason your sizable Long EURCHF open trades were left open was because of the unprecedented move by the Swiss National Bank, which resulted in a huge drop in the price of EURCHF. At that time there was no liquidity in the market therefore we were unable to close your open trades in EURCHF./////////////

Typical reply by scam broker hotforex. With this sentence of ///At that time there was no liquidity in the market therefore we were unable to close your open trades in EURCHF/// am charging hotforex legally, let it explain for the regulatory bodies how there was no liquidity??

scammer hotforex failed to reply who are its liquidity providers and hotforex can not run away with obvious market maker reply of no liquidity, black swan whatever!!!!!

As a client have the full right to know who are your liquidity providers and hotforex must send trades details with information from all its liqudity providers(if any!!!) how they had no liquidity!!!!!

So scammer hotforex just charged its liquidity providers for not giving it liquidity to close my eurchf orders.

And scammer hotforex said in written words it was "we were unable to close your open trades in EURCHF"

This is leaves hotforex in a very bad legal status in front of crowd, hotforex condemned itself by the above sentence.

hotforex had to close my orders but it was "unable" for no liquidity!!!-prove that for the regulators.
 

bigdolly

Sergeant Major
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863
Typical reply by scam broker hotforex. With this sentence of ///At that time there was no liquidity in the market therefore we were unable to close your open trades in EURCHF/// am charging hotforex legally, let it explain for the regulatory bodies how there was no liquidity??
Ed, don't make a baby of yourself, EUR dropped in 41% to CHF in 30 min, do you think it is possible in normal trading conditions?
It's good when somebody assert their position with solid arguments, but your situation is pretty clear, you are yet another victim of CHF shock. Take it with dignity and don't make an empty buzz about that.
You're not alone FXCM Faces Losses on Franc Trades as Swiss Shock Spreads - Bloomberg Business, biggest retail broker in US almost went bust. This extremely lack of liquidity has done everything.
Wish you to pull yourself together, hope you will be able to get over this annoying force majeur and come back to trading.
 

Ed_Forex

Private, 1st Class
Messages
240
Impressing when sometimes some members come to defend the broker, leaves big questions for the goal behind it, other than being paid for that, what's your concern anyway?? if you can't say something good don't talk better.

Describing baby is a plus for me, when a baby defends his rights, this is my hard earned money that didn't find on streets or stole from somewhere, if you care less of your money of your micro account that's your concern.

normal or abnormal conditions, I talk legal not poetry. when scammer hotforex want to say there was no liquidity in market it must prove that by prices from its liquidity providers but since hotforex is a pure market maker, it failed to show any of that.

if all clients are your likes, i have no doubt how they get scammed, cheated, laughed at by scam brokers because they don't bother to ask for their rights.
 

Ed_Forex

Private, 1st Class
Messages
240
To make this clear once and for all, scam brokers like hotforex who talked about no liquidity so they were unable to respect their policies, that's the biggest myth of all time.

Market had liquidity but failure in operation system between liquidity providers and brokers led to negative balances.

Who but a less gifted client will agree on loosing money because of things out of hand, responsibility lies on liquidity providers and brokers, it's not my fault if their systems proved to be super bad!!!

They claim to have no liquidity, go sue the central banks and in front the SNB but they are cowards, liars have no proofs of that, so they throw that useless illegal sentence to their clients to run away of respecting their margin policy.
 

Ed_Forex

Private, 1st Class
Messages
240
Right now I am quite worried. I read that brokers in Australia, Cyprus and Mauritius are allowed to use client money for their own firm's trades/bets.

Man, what do we do?
They all proved to be market makers. Only solution is to expose their scam in public and send complaints to as much regulatory bodies as possible.

The more clients who complaint the more regulator will act quickly and strictly.

This is a bright example: Saxo Told to Hand Franc-Trade Details to FSA Amid Complaints - Bloomberg Business

If FSA Mauritius does the same, scammer hotforex will have to provide the regulator with prices from its liquidity providers(if any!!).

That "we had no liquidity to close orders" might work on poor minded clients but can not be laughed with at regulators.
 

joneslds

Corporal
Messages
87
Ed analyzing the latest response from the broker is clear that they will not pay you, so I hope you find the strength to continue , and do not take several risks next time.
 

Ed_Forex

Private, 1st Class
Messages
240
What several risks are you talking about, like me millions of traders were trading eurchf and usdchf, some sold both pairs but market maker brokers like hotforex didn't pay them, changing prices and many case on FPA against brokers who prevented clients who were in right direction with market is a bright proof of scam brokers worked against both buyers and sellers.

scammers like hotforex don't have final decision to pay or not, it's the regulatory bodies to decide.

In worst case, if FSA Mauritius upset clients, I already warned thousands of traders not to deal with scammer hotforex.

scammer hotforex scammed me $14775.25 but the money they already lost from withdrawals and loosing new clients is much over this amount.

If clients don't get their hard earned money from scam brokers like hotforex, at least we warned others to to fall into scammers.
 

alfexcy

Private
Messages
13
What several risks are you talking about, like me millions of traders were trading eurchf and usdchf, some sold both pairs but market maker brokers like hotforex didn't pay them
Who told you that? I did have a short position with them and they paid me...
 
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