I think the core of this issue is a communications problem.
You deposited $30k and got a $30k bonus. The most you can lose is $30k (plus any profit gained and not withdrawn). This doesn't mean that if you lose $30k, that's your bonus. What it means is that if you go negative $30k, you've just wiped out your account. At that point, the bonus will be cancelled. The only way around this is if your trading volume meets all the terms to make the bonus more than a "temporary loan" and it becomes real, withdrawable money.
Virtually all brokers operate this way on bonuses.
The most that I can loose is $30K like you said, when floating loss exceed that amount, it means I already lost the bonus amount.
You concluded too: What it means is that if you go negative $30k, I don't think you meant my account must go to negative balance to have lost -30K!!!
It's not a communication problem but failure of hotforex in applying its policy.
What is the legal meaning of this paragraph?? :
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Bonuses will be cancelled and withdrawn from the respective Client’s account.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.
Actually nothing!!
The legal authority found in this paragraph:
f 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 paragraph full of legal authorization words for hotforex "must" apply.
Many are forgetting the importance of margin policy.
Can any brilliant or logic thinking person explain how an account runs on negative margin???
When that happens(free margin goes even if $1 below zero), clearly the client have already used the whole margin of the account within the bonus margin, this is named over leveraged, even over the actual leverage of account that is 1:400 in my case. This id also mentioned in hotforex margin policy"When positions have been over-leveraged"
To remind too that hotforex bonus policy says: client can't get more than the $30K max. bonus but in this account hotforex gave me more than double and triple of that $30K, so what respect of policy hotforex talking about.
Basically, margin policy is what matters in trading, not leaving account to negative territory balance that by itself breach the contract and make hotforex responsible for the losses.