HotForex - www.HotForex.com

[ammarmemon]

Hmm I think the only thing is having a higher equity so we can open bigger lots and risk more than we can afford similar to another broker

These types of bonuses are useless and quite harmful to scalpers.

Its a complete contradictory situation. We can't come to a conclusion.

Few members are saying that it doesn't gets counted in Stop out calculations and a few are saying that it can be.

If it can be, then its a great bonus just like that of IFX but if its not counted, then its just to make people happier and attract noobs.

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[mjomha]

Well after searching abit found the Terms and conditions of the bonus

BONUS TERMS AND CONDITIONS The Bonus will be deposited automatically into all HotForex Accounts The bonus will be applied on EVERY deposit. The bonus can be used as stop loss as there is no limitation in using it The bonus cannot be withdrawn under no circumstances The company maintains the right to change the terms of the bonus policy at any time. Prior notice will be given to clients via email and by posting on the HotForex.com website If a client withdraws from deposited funds the bonus will be reduced accordingly Every client can have ONLY ONE bonus account of each type. In case several accounts of one type are found belonging to one person or related persons (or if such suspicions arise, including IP address match, contact info match, related trading etc), all the bonuses will be cancelled. In the case that there is no bonus left from the specific account the bonus will be taken from the related accounts. HotForex also has the right to block the account and send the initial deposits back to the client. If the client withdraws any funds from the trading account, the bonus will be reduced by 30%/20% (depending on the bonus percentage) of the amount of the withdrawal. Please note that HotForex will never reduce your account funds by more than the bonus awarded. The HotForex new ‘30% on ALL Deposits’ promotion will last between the 17th of February 2011 and 17th of March 2011. This promotion will only apply to NEW deposits and not on Internal Transfers If an existing client withdraws from his/her account and deposits again the new ‘30% on ALL Deposits’ promotion will not apply

[ammarmemon]

Well after searching abit found the Terms and conditions of the bonus

Wao mjomha.

You got it. A huge dialogue between a few members including me here have ended up in a nice manner. Finally we come to a point that its used in stop out calculations.

I will surely join this broker within a day or two and will give it a try.

[ruseneca]

You're a bit lucky! I could not found anything about this bonus when I deposited. All I knew was support's claims

[ammarmemon]

You're a bit lucky! I could not found anything about this bonus when I deposited. All I knew was support's claims

If you haven't asked for the deposit bonus, then i think you can still try to claim it right now. I guess they will credit the bonus without any problem as insta forex does even if you request for the welcome bonus after a few months of deposit.

[ruseneca]

If you haven't asked for the deposit bonus, then i think you can still try to claim it right now. I guess they will credit the bonus without any problem as insta forex does even if you request for the welcome bonus after a few months of deposit.

I received as soon as I made a deposit and contacted the support to deposit my trading account because it was not automatic. And they deposited with the bonus 30% included. I made at about $40 with about $8 and withdrew $20. The rest I lost due to lack of hedging There was no way to protect my order. It was this week and I know it is very important to open a demo account first and try conditions I won't open any real accounts until I try demo trading.

[netcode]

I received as soon as I made a deposit and contacted the support to deposit my trading account because it was not automatic. And they deposited with the bonus 30% included. I made at about $40 with about $8 and withdrew $20. The rest I lost due to lack of hedging There was no way to protect my order. It was this week and I know it is very important to open a demo account first and try conditions I won't open any real accounts until I try demo trading.

Which payment processor you used for payment and how long it took time for payment?

I think hotforex should lower the minimum withdrawal for the affiliates. Right now it is $100 which is high in my consideration. Specially, when their minimum deposit is only $5.

[ruseneca]

Which payment processor you used for payment and how long it took time for payment?

I think hotforex should lower the minimum withdrawal for the affiliates. Right now it is $100 which is high in my consideration. Specially, when their minimum deposit is only $5.

I'm unaware of who much is minimum withdrawal amount for Affiliates but there is no minimum withdrawal amount for clients!
Personally, I used LibertyReserve, as always. After I made a decision to withdraw my profits, I must print, sign, scan and send a document. After that, it takes one business day to receive your withdrawal. I think it was even stated in their Terms.

[netcode]

I'm unaware of who much is minimum withdrawal amount for Affiliates but there is no minimum withdrawal amount for clients!
Personally, I used LibertyReserve, as always. After I made a decision to withdraw my profits, I must print, sign, scan and send a document. After that, it takes one business day to receive your withdrawal. I think it was even stated in their Terms.

Oh, the withdrawal process is complex. Why such strict rule?

FBS and Hotforex, both is regulated in Mauritius and I think regulation is same for both broker. FBS doesn't have some hassles, most other FSA or Cysec regulated brokers also don't have such hassles. I think they should allow online payment request and process the payments to verified members only.

[ruseneca]

Oh, the withdrawal process is complex. Why such strict rule?

FBS and Hotforex, both is regulated in Mauritius and I think regulation is same for both broker. FBS doesn't have some hassles, most other FSA or Cysec regulated brokers also don't have such hassles. I think they should allow online payment request and process the payments to verified members only.

Most brokers started copying the Bulgarian Regulatory Authorities with these strict rules of account opening and withdrawal. In my opinion, broker just secure themself in Financial Field of their business. I also don't know about FSC restrictions. I must ask HotForex representatives about this decision.

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