The first warning signal started 2 months ago, when hotforex had a fake spike resulting in closing my trade on loss. Contacted them at the same instant on live chat, they said checked with the execution department(very rude and arrogant) and replied spike was valid and that all brokers had that spike as hotforex said to me. I knew it was a lie because checked other brokers, guess who had similar spike from all others? FXCM- everyone knows its service.
This was the first warning for me, execution department refused to take responsibility and said to send an email to hotforex compliance department, that I had done and yet no reply from them from 2 months ago.
Second warning was when I requested withdrawal to all my money from hotforex by card(amount that can be withdrawn due to cards policies, no more than the deposited) and wire transfer couple of weeks ago. They wasted time not applying its withdrawal policy(all withdrawals requested before 8 AM GMT will be processed same day), said next day probably, until that time on morning went to live chat asked for my withdrawal, they said we will process it most probable today. Hours passed and my patience was ending, I was very worried about hotforex scamming all my money in account, taking time to make excuses or come out with a fabricated story, at that time remembered "Pharaoh" advice to clients who complain about not getting their withdrawals processed for big amounts of money from scam brokers, to withdraw the amount on dividend transactions. That's when I decided to keep some money in account and withdraw the rest to not get scammed with the whole amount.
Hotforex withdrawal department works from 8 AM GMT to 5PM GMT, that day morning 8 AM contacted hotforex live chat that assured the money will be processed shortly(my request was for the whole amount in account), until 4:30 PM(before half an hour from they close-stop processing withdrawals) no email no process of my withdrawal from hotforex withdrawal department, decided to go to live chat and ask them to transfer the total amount that must had been transferred by card and part of the amount that must had been transferred by wire. Like charm this trick of "Pharaoh" worked.
Hotforex withdrawal department wasted time from 8 AM to 4:30PM, and was closing after 30 minutes from my live chat without transferring me any money and who knows if and when they'll process it. When hotforex knew that there will be a good amount left in my account, they instantly and through live chat processed my withdrawal in 5 minutes!!
After this I knew what a scam broker hotforex is, reviewing its regulator FSC knew I had no big hopes than waiting for more than a month least for time to pass before I request the rest amount from my account, hotforex was faster this time by scamming me $14770.25
Clients don't know the quality of their brokers and be careful to the important details like regulation and changing of contract details until the scam occurs, sadly that is my case.
This was the first warning for me, execution department refused to take responsibility and said to send an email to hotforex compliance department, that I had done and yet no reply from them from 2 months ago.
Second warning was when I requested withdrawal to all my money from hotforex by card(amount that can be withdrawn due to cards policies, no more than the deposited) and wire transfer couple of weeks ago. They wasted time not applying its withdrawal policy(all withdrawals requested before 8 AM GMT will be processed same day), said next day probably, until that time on morning went to live chat asked for my withdrawal, they said we will process it most probable today. Hours passed and my patience was ending, I was very worried about hotforex scamming all my money in account, taking time to make excuses or come out with a fabricated story, at that time remembered "Pharaoh" advice to clients who complain about not getting their withdrawals processed for big amounts of money from scam brokers, to withdraw the amount on dividend transactions. That's when I decided to keep some money in account and withdraw the rest to not get scammed with the whole amount.
Hotforex withdrawal department works from 8 AM GMT to 5PM GMT, that day morning 8 AM contacted hotforex live chat that assured the money will be processed shortly(my request was for the whole amount in account), until 4:30 PM(before half an hour from they close-stop processing withdrawals) no email no process of my withdrawal from hotforex withdrawal department, decided to go to live chat and ask them to transfer the total amount that must had been transferred by card and part of the amount that must had been transferred by wire. Like charm this trick of "Pharaoh" worked.
Hotforex withdrawal department wasted time from 8 AM to 4:30PM, and was closing after 30 minutes from my live chat without transferring me any money and who knows if and when they'll process it. When hotforex knew that there will be a good amount left in my account, they instantly and through live chat processed my withdrawal in 5 minutes!!
After this I knew what a scam broker hotforex is, reviewing its regulator FSC knew I had no big hopes than waiting for more than a month least for time to pass before I request the rest amount from my account, hotforex was faster this time by scamming me $14770.25
Clients don't know the quality of their brokers and be careful to the important details like regulation and changing of contract details until the scam occurs, sadly that is my case.