HotForex is a Huge Scam !!

Messages
1
Hi Traders
I was scammed by HOTFOREX i would strongly recommend people to NOT use this broker because they are a complete scam .In my case i joined them by using a demo account, soon after i opened a real account with them, that's when the problems started, i deposited 500 usd with them and to fund my real account they asked for ALL my documents like the ID electricity bill , water bill , house rent bill , they wanted by any mean a ( bank document ) they wanted the photo of my credit cart back and front , and the ( residence proof ) was VERY weird because i sent the ORIGINAL residence proof and they just DIDN'T accept it and they just keep and keep asking for documents, then i was so fed up that i wanted my money back, i asked them for the money and they said they would need ALL documents again, i sent all they wanted and the DAMN FRAUDSTERS REFUSED

Following are other Reason why Hotforex is a scammer !!

1)
Make an incorrect margin call and close the clients position.
2) Then email client that the position was canceled and funds were credited back due to incorrect margin call
3)Then watch the market.. if the market moves up, the client loose all the profit he was supposed to make, as they already sent a email to client saying the funds were credited back to account.
4) You will not find many errors on their demo account, and this is their own plan to make you fool .

 

henyo

Master Sergeant
Messages
429
Few suggestion to you and some doubts also :(

documents asked is pretty much normal, proof of billing, and residence is standard, the broker my ask for a bank statement for ease of authenticity.
- no broker would ask for back side copy of your credit card. I highly doubt a broker like hotforex would, unless you can provide something that shows us that it did?
- one thing that i dont understand, you have a dispute regarding the 500 deposit but you were trading live already to generate such conclusion that margin call was incorrect..
- lets say the fund was credited back, how do you lose money? unless you actually entered a trade? do you see the loop holes?
- I hope this is not a common newbie mistake, since we all know demo is demo, live is different. thats why its called demo, play money, practice.

the reason Im bringing all this up, is because of a certain claim in this community regarding some fake/spam reviews and comments that are paid by a certain someone. with that out of the way and for the benefit of the doubt.

- Kindly clarify your claim and do provide us with a clearer view of what you are actually trying to say.
- pls do back it up with an account number or email address so it would be easier for the broker to address your issue, im assuming you are here to have it solved right?
- do email the broker with the link to this thread and invite them to join the discussion.
 

GunnerNic

Recruit
Messages
1
I find this complaint very hard to believe, I also recently joined HotForex and was asked for my ID and proof of residence, standard procedure from all the top forex brokers I've been testing out and was verified without hassle the same day.
I will gladly report back here if I find anything out of the ordinary but I cant help thinking anyone who is a serious trader and does his or her homework before sending a broker any money would see this complaint headline for what it is.
 

Pharaoh

Colonel
Messages
19,717
Two things:

1. Sometimes a broker will ask for the back of a card to verify the signature. If they do, cover up that security code on the back.

2. Save yourself a lot of headaches. No matter what broker you chose, get all your docs verified before depositing any money.
 

comingbacksoon

Recruit
Messages
390
I find this complaint very hard to believe, I also recently joined HotForex and was asked for my ID and proof of residence, standard procedure from all the top forex brokers I've been testing out and was verified without hassle the same day.
I will gladly report back here if I find anything out of the ordinary but I cant help thinking anyone who is a serious trader and does his or her homework before sending a broker any money would see this complaint headline for what it is.
they banned me cuz i asked my own rights and money and uptodate they dont care and never replay and one of maneger told me they never care for any complaint in webistes !! thats a fact!!!
 
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