Hot Forex Theft

[gaban13]

HotForex have 2 types of bonuses.if you want your bonus to support your -ve floating then choose 15% bonus which you can use for trading but non-withdrawable.50% bonus is withdrawable but cannot be use for trading.

 

[The Prophet]

To Gaban13,

I thought your last post was a bit misleading for traders when you wrote that the 50% hotforex bonus cannot be used for trading, when actually, it can.

The intended benifit and usage of the 50% bonus is so you can use it as increased leverage and lot size combined with your money management strategy.

The Bonus can be withdrawn and lost with no restriction if Volume Requirements are met. Ok, the volume requirements are pretty strict but there is no time limit in completing the volume requirements.

I asked hotforex why there was no time restriction and they simply said that the reason of the absence of any time limit is that they would like to promote prudent trading instead of ‘pushing’ clients to trade under pressure.

Also the stop out on the Original deposit (excluding bonus) is effectively reduced to zero percent.

And no, I'm not an employee of hotforex. Its a good deal if used wisely.

I started a 10k trading account with them and when they put on an extra 5k making my account 15k from the beginning, it was a huge psychological boost to my trading plan, the main benefit for me is the increased lot size.

Trading is all about trading wisely with good discipline and money management and this is good money management.

 

[Denny W]

To Prophet

What Gaban mean is the 50% bonus can not be use as additional margin when you have unprofitable trade, but on 15% bonus it can be used as additional margin on your unprofitable trades.

 

[f-man]

I have an account with Hotforex which I run through f-man at 4Xangels to get my rebates, I read the thread and would just like to say that I had a chat with one of the chaps at Hotforex and the whole idea behind the 50% bonus is to enable you to increase your trade volume, good for me and good for them.
If you trade wisely, the increase in volume will enable you to increase your account at a more speedy pace and then request that Hotforex remove the bonus from your account once you are in profit more than the bonus.
The way to look at it is you are getting an interest free short term loan to increase your lot size. If you think it then becomes a bigger risk, then quite simply reduce your risk from say 2.5% to 2% per trade. Hotforex do seem to be really trying to provide a good honest service and coming up with all sorts of ideas to pull in the traders, hats off to them.
Happy days Hotforex, keep the Prophet rolling.
f-man, my rebates are due next week, I don't suppose you would consider giving me 50% bonus on my rebates as well!!

Hi Prophet!

Well, actually since you have the 50% trading bonus and use 50% larger lot size, you automatically get 50% higher rebates