HotForex Review

CW, use the Netplace option....Moneybookers doesn't think Hotforex is legit...It is a gaming site to them...

Does anybody know what happens when the "bonus" is withdrawn ??Last week my balance went down to the bonus amount then everything shut down, leaving me with a "0" balance...I wrote them to ask what happens now and have not received one reply...It looks on the surface that the bonus gives an artificial balance/equity amounts...Also using Currenex, I think the commision was too high....At least compared to Finfx....

I have made numerous attempts to deposit funds using multiple credit cards, all transactions fail. American Express - fail, Visa - fail, Money Bookers - fail. Tech support is unable to provide an explaination or the ability to fix the issue.

Very hard to find a good broker...and i think i found one...

PS
I tried to sumbit a review 2mins ago but i dont know if it went throught due to my internet connection.

hotforex is worst site.payment problem.server is very bad .
so dont open hotforex live account.

if you are trading for instant execution, it is ok.. but, from my experience, if want to trade news, your PO will be deleted. they said it was due to volatility (hell yeah,news sure got volatility)..sigh.. I also face hard time if use script.. i would say, 3/5 is the rating for them..

Ok,

A war story for you, i deposited $1000USD got the fancy $500 deposit bonus, lost $400 of that deposit in one bad with Voodoo V2 EA, and then some other bad trades which saw me under $1000USD.

I then came across MillionDollarPips EA and have to take my hat off as it fully recovered my balance actually was as high as $1600, then it happened.

I woke up next morning to see a floating trade over -$100 thinking to myself thats strange as MDP closes bad trades very quickly.

I went to the trusty old journal tab (A traders best friend and a brokers worst nightmare) and guess what i found, MDP was frantically trying to do its job and my old friend OFF QUOTES reappeared in my life, flashing me back to my horror days at FXCM where it was OFF QUOTES city and i lost thousands.

I disabled MDP withdrew my initial $1000 and was out of there like jumping jack flash!

Now i'm one of the lucky ones to have walked away even steven, warning for all you newbies out there you have the right to buy and sell whenever you want when the market is open, if someone is gonna tell me no cash in a trillion dollar market, im gonna tell them to shove it and put my cash into one of my other 4 broker accounts, of which i can handle the odd old tick, but off quotes kills me. I may as well trade baseball cards for a living i'm done.


04:24:09 '17335': modification of order #1783323 sell 0.24 EURUSD at 1.39160 sl: 0.00000 tp: 0.00000 -> sl: 1.39381 tp: 1.38944 failed [Off quotes]
04:24:10 '17335': modify order #1783323 sell 0.24 EURUSD at 1.39160 sl: 0.00000 tp: 0.00000 -> sl: 1.39381 tp: 1.38944
04:24:10 '17335': request was accepted by server
04:24:10 '17335': request in process
04:24:11 '17335': modification of order #1783323 sell 0.24 EURUSD at 1.39160 sl: 0.00000 tp: 0.00000 -> sl: 1.39381 tp: 1.38944 failed [Off quotes]
04:24:12 '17335': modify order #1783323 sell 0.24 EURUSD at 1.39160 sl: 0.00000 tp: 0.00000 -> sl: 1.39381 tp: 1.38944
04:24:12 '17335': request was accepted by server
04:24:13 '17335': request in process
04:24:13 '17335': modification of order #1783323 sell 0.24 EURUSD at 1.39160 sl: 0.00000 tp: 0.00000 -> sl: 1.39381 tp: 1.38944 failed [Off quotes]

Review Moderation Team Note: We've trimmed out much of the log file. Please post it in the forums thread that's linked from this review page.

04:26:30 '17335': modify order #1783267 sell 0.21 EURUSD at 1.39172 sl: 1.39401 tp: 1.38924 -> sl: 1.39183 tp: 1.38875
04:26:30 '17335': request was accepted by server
04:26:31 '17335': request in process
04:26:31 '17335': modification of order #1783267 sell 0.21 EURUSD at 1.39172 sl: 1.39401 tp: 1.38924 -> sl: 1.39183 tp: 1.38875 failed [Off quotes]
04:26:31 '17335': close order #1783267 sell 0.21 EURUSD at 1.39172 sl: 1.39401 tp: 1.38924 at price 0.00000
04:26:31 '17335': request was accepted by server
04:26:32 '17335': request in process

And thats right you can see my account number Hotforex and no i dont feel like discussing OFF QUOTES=BYE BYE HARD EARNED CASH! NEXT!!

Been trading for 6 months now with Hotforex. Overall their service are better than average broker.
- customer service are superb
- fast deposit+ withdrawal via wire transfer (only 2-3 working days),
- good bonus 50% !
- tight spreads, etc
Unfortunately, still have one weakness :
- when I attached some indicators + trading system templates, their platform become slowly both open charts and execute trades.
Compare with other brokers : Alpari, Thinkforex, Forexoma, FXCM, they all don't have problems when I attached basket of indicators.
I only hope Hotforex will improve their server in my country area.

Great broker!!! I have been trading a standard account at hotforex for almost 6 months and I am very happy with their service. Customer support has been always quick and accurate to every single issue or question I had. I have never seen that on another brokerage and I am trading for almost 4 years now. I just made my 3rd withdrawal via MB and it has been done in less than 2 hours!!!!! I will be recommending hotforex to all of my friends here!

I have had an account with Hotforex for about 2 weeks now. I will hold off on a rating until I have some more experience with the broker. But from what I can judge now, the platform is very good. Execution is fast (a lot faster than my previous broker), no commission, spreads are good, and first deposit was relatively quick. The 50% deposit bonus was awesome. The support could be a little better as I could tell many are non-native English speakers but I haven't had to use them for anything major. Overall I have had a good experience with this broker and will certainly be staying with them in the future as long as things stay the way they are.

Great broker, best customer service in the business! Execution is great with large positions and had my withdrawals proccessed on time as promised! Looking forward to trading with Hotforex for years to come!