Resolved: Hotforex manipulating my entry price and exit price.

vintex

Recruit
Messages
5
Hotforex is manipulating my trades. When I open a buy order AUDUSD, AUDUSD.png the entry price is hell 15 pips above the current market price, the spread is 1 pip only when I was trading. Same goes to my many others trades (I'm only listing a few here),USDCAD 1.png I placed a sell order with instant execution and it is again open a sell 20 pips below market trade price, instant lose 20pips.

See my current open trade, USDCAD 2.png I don't even know what is happening, why is my trade being opened in a price that is not even within the price range?
 

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vintex

Recruit
Messages
5
The attached is the reply I got from them, 20 pips difference is ridiculous!
 

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The Punisher

Sergeant Major
Messages
837
The attached is the reply I got from them, 20 pips difference is ridiculous!
They are afraid of US regulations for Forex which should tell you a lot about their behavior! They claim to have many financial registrations however its unclear if these are valid and accurate?



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The Punisher

Sergeant Major
Messages
837
A few more licenses they claim to hold (not sure if these are real or valid)? You can file a complaint with every securities commission this company claims to be registered with.
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vintex

Recruit
Messages
5
With all those "fancy" license yet they can do anything they want, they really don't seem regulated to me. Manipulating trades and talk sh!t about market depth mechanism & liquidity. Is there really no one out there can stop them from doing this? What should we do if we face issues like this? They just simply tell you
a mediocre reason and I can't do anything other than accepting it?
 

The Punisher

Sergeant Major
Messages
837
With all those "fancy" license yet they can do anything they want, they really don't seem regulated to me. Manipulating trades and talk sh!t about market depth mechanism & liquidity. Is there really no one out there can stop them from doing this? What should we do if we face issues like this? They just simply tell you
a mediocre reason and I can't do anything other than accepting it?
You should file complaints with the securities commissions where they claim to hold licenses. At minimum, I would file complaints with the FCA, Spain (CNMV) and Germany (BaFin) to start. If they truly hold these licenses and you have proof showing their bad behavior then the futures and securities commissions can intervene and even revoke their licenses.
 

PK494

Master Sergeant
Messages
469
With all those "fancy" license yet they can do anything they want, they really don't seem regulated to me. Manipulating trades and talk sh!t about market depth mechanism & liquidity. Is there really no one out there can stop them from doing this? What should we do if we face issues like this? They just simply tell you
a mediocre reason and I can't do anything other than accepting it?

True, this is what they want victims to feel. It's a lot of work and too dreadful to go after them. They don't need to put a lot of work to make those fake licenses and if their platform is shut down, a new one will pop up really quick they just have to copy and paste everything. Therefore, companies like MetaQuotes needs to change their policy because they are giving them a place for these scammers to steal hard earned money from people like you and me.

 

vintex

Recruit
Messages
5
Hey guys this is an update about what happened recently.
Hotforex agreed to make an one-off reimbursement of 74.70 USD back to my account so we have came into mutual agreement and decide to let this case close.

Thank you all the members here at FPA helping me out by giving me suggestions.
Thank you hotforex willing to heard their client's voice.
Thank you everyone and wish you all the best in your future endeavors.
 

FxMaster

Lt. Colonel
Messages
10,638
Hey guys this is an update about what happened recently.
Hotforex agreed to make an one-off reimbursement of 74.70 USD back to my account so we have came into mutual agreement and decide to let this case close.

Thank you all the members here at FPA helping me out by giving me suggestions.
Thank you hotforex willing to heard their client's voice.
Thank you everyone and wish you all the best in your future endeavors.
Agreed or have you already received the funds?

Confirm so I`ll ask @FPA Forums Team to make this thread a resolved case and move it to resolved folder.
 
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