RESOLVED - Hotforex Scam Scam, stay away

usmanz

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19
I sent a withdrawal request for 15 k for wire transfer which they told me that their bank has rejected because they have a hit on my name. That is totally ridicolous. State bank of mariutus. Why they dont try with Barclays bank. I am having total equity of 52000 with them. And they are asking me now for clean criminal record. Why they dont try with Barclays which is international bank and then there will be no excuse. I hope this one gets solved quickly as they are good team, i was totally shocked after today's call.
 
The situation has got worst since i post my review on FPA.
My account has been blocked today, i have been labelled as terrorist, to my shock. The same bank account i use for my salary transfer, and other funds transfer. No issue at all. But its an issue when they try to transfer,They are not giving me any proof that what authorities are telling them, its top secret and its only their words for me which i have to believe.
I have been forced to close my open positions 80 standard lot on AUDUSD, Otherwise execution would have closed it, no time has been given, i had to suffered a loss of 25k. If those positions have been there, i had made a lot of profit.
Now they are asking certificate from embassy for clearance, which i can provide, but who will responsible for my loss, and all the tension has been given to me. The whole story started when i made a request for withdrawal of 15k.
Please please stay away from them, its good as long as you loose money, but when you start to make money, you will be in trouble, especially when you ask for withdrawal. You are not gona get anything, only trouble and tension. Totally scam.
 
Send an email to Venelin. The address has been posted on the review page a few times. Invite him to come to this thread.
 
I contacted them again today and asked them to provide me some proof.
1: any transactional proof that they have attempted wire transfer of 15k usd and it was stuck at the bank.
2: the proof that authorities had hit on my name as they told me. Any email or letter.

Apart from it, i strongly believe that hotforex is not stp/ecn and they are market makers. They cant see u winning money, How a stp broker can change price of a 5 day old position to another price because their platform hanged up for 30 min and they didnt take action untill you asked them that you will go to forex boards and tell your story and they chang ur order price. Only a market maker can do that. It happened to me 1-2 weeks back, i can send the proof if anyone wants. Email me on usman.arshad83@gmail.com
 
One important thing which i forgot to mention is when they first told me that, State Bank of Mariutus has reject my transfer, i asked them to try through Barclays as hotforex also do banking with them, First John Watson(VIP account manager) told me that they cant send through Barclays as i deposited to State bank of Mariuts, they cant send through Barlclays, its against their Money laundring,when i told him that i never deposited throguh SBM, he changed the story, and told me that it will still go throguh their regulator. Dont you guys think all these are excuses not to pay me that time and now my account has been closed and i have to suffer a total loss of 23500 USD plus posisble profit, market moved to my favour after they closed my account.
Emails are below:
Hi John/Venelin
I can see on your website, you guys also use Barclays bank other than bank of mariutus, can you guys try through Barclays, i hope there wont be any problem, as it is international bank.
Please note that this is totally inconvenience for me. And i said earlier, i need those funds urgently.
Thanks


John Watson
Jun 24 (2 days ago)

to me, venelin
Hi Usman,



Due to the fact that you deposited to SBM, we must refund the money from SBM. This is in accordance to our Anti Money Laundering policy that we follow.





Kind Regards,



John Watson

VIP Account Manager


+44-2033185978
+44-2033188569
john@hotforex.com
Forex | Forex Brokers | Forex Trading | HotForex
John.Hotforex

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HotForex is an award-winning, fully regulated and licensed worldwide broker.

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From: "usman arshad" <usman.arshad83@gmail.com>
Sent: Mon Jun 24 2013 18:15:27 GMT+0300 (EEST)
To: "John Watson" <john@hotforex.com>; venelin@hotforex.com


usman arshad <usman.arshad83@gmail.com>
Jun 24 (2 days ago)

to John
Hi John
I never deposited wire transfer, i always deposited through debit cards which are already bank into my account. I never did a wire transfer. Please check again.
Thanks


Usman Jun 24 (2 days ago)
Hi John Please update. Is transfer through barclays is possible? As per your ...

usman arshad 8:44 AM (23 hours ago)
Hi John Please update regarding withdrawal through Barclays. Thanks

John Watson
9:09 AM (23 hours ago)

to me, venelin, sohail
Hi Usman,



Unfortunately it is not as it still has to go through our Regulators.



Please provide me with the criminal record report from the Pakistani embassy over there and we should be able to process the transfer.


The situation has got worst since i post my review on FPA.
My account has been blocked today, i have been labelled as terrorist, to my shock. The same bank account i use for my salary transfer, and other funds transfer. No issue at all. But its an issue when they try to transfer,They are not giving me any proof that what authorities are telling them, its top secret and its only their words for me which i have to believe.
I have been forced to close my open positions 80 standard lot on AUDUSD, Otherwise execution would have closed it, no time has been given, i had to suffered a loss of 25k. If those positions have been there, i had made a lot of profit.
Now they are asking certificate from embassy for clearance, which i can provide, but who will responsible for my loss, and all the tension has been given to me. The whole story started when i made a request for withdrawal of 15k.
Please please stay away from them, its good as long as you loose money, but when you start to make money, you will be in trouble, especially when you ask for withdrawal. You are not gona get anything, only trouble and tension. Totally scam.
 
I contacted them again today and asked them to provide me some proof.
1: any transactional proof that they have attempted wire transfer of 15k usd and it was stuck at the bank.
2: the proof that authorities had hit on my name as they told me. Any email or letter.

Apart from it, i strongly believe that hotforex is not stp/ecn and they are market makers. They cant see u winning money, How a stp broker can change price of a 5 day old position to another price because their platform hanged up for 30 min and they didnt take action untill you asked them that you will go to forex boards and tell your story and they chang ur order price. Only a market maker can do that. It happened to me 1-2 weeks back, i can send the proof if anyone wants. Email me on usman.arshad83@gmail.com

How a stp broker can change price of a 5 day old position to another price because their platform hanged up for 30 min and they didnt take action untill you asked them that you will go to forex boards and tell your story and they chang ur order price


mine platform for metatrader and also webtrader came to standstill atleast 4 times in 3 to 4 months and i complain to them many times but they said check your internet connection.
also 2 times they told yes there is technical problem so in that case u can close or open trades on phone. WHY
hope i get mine amount which i lost due to their server issue.
 
I'm not sure I completely get this. You tried to withdraw 15K and there's a delay. That's unfortunate, but easy to comprehend. What I don't get is how a delayed withdrawal forced you to close other positions.

If it really is a bank blocking you because you are on some sort of list, Barclays would likely have the same issue as another bank.

I have a proposal. Post here and also send an email to HotForex. State that you waive your right to privacy and ask HotForex to publicly display whatever it is that's delaying the withdrawal. Then you can post that clearance certificate from your embassy.
 
Hi
1: 15 k was rejected and they told me i need to provide certificate which i already applied, will get in 10-15 days. But they still havent send me any proof they do have, i asked them on many occassions.
2: situation got worst on tuesday, when one of their manager called me and told me that theh have orders from their managment to immidiate freeze my trading account. That time i had 80 Audusd, bo time has given to me, i had to close my position on 23500 usd loss, my account is blocked at tge moment. i didnt have aby plans to close those positions. after that market came to my favour, i would have recovered my loss plus make a good profit. i will provide them my clearance certificate but then who will be reaponsible for my loss.
3: they still havent shown me the proof whatever they got. in case if they have anything, i should fet a fair chance to defend it.QUOTE=Pharaoh;125941]I'm not sure I completely get this. You tried to withdraw 15K and there's a delay. That's unfortunate, but easy to comprehend. What I don't get is how a delayed withdrawal forced you to close other positions.

If it really is a bank blocking you because you are on some sort of list, Barclays would likely have the same issue as another bank.

I have a proposal. Post here and also send an email to HotForex. State that you waive your right to privacy and ask HotForex to publicly display whatever it is that's delaying the withdrawal. Then you can post that clearance certificate from your embassy.[/QUOTE]
 
T
I have been forced to close my open positions 80 standard lot on AUDUSD, Otherwise execution would have closed it, no time has been given, i had to suffered a loss of 25k. If those positions have been there, i had made a lot of profit.


I don't get it. That transfer was for Deposit or for Withdrawal ?
You with your hand closed that order or they closed it ?
Why don't let them close and then you can blame them and ask for proof in justice?
Why don't ask that bank from Mauritius if you are on a list labeled as terrorist?
 
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