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HotForex-Failed (Genom pipinvestment1 )

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HotForex-Failed Diskussion

Will Schaarrand
pipinvestment1
Nov 25 2010 at 23:15
219 inlägg
02:00:06 '9703': instant order buy EURUSD at 1.32992 sl: 0.00000 tp: 0.00000
02:00:06 '9703': request was accepted by server
02:00:07 '9703': requote 1.32974 / 1.32990 for open buy EURUSD at 1.32992 sl: 0.00000 tp: 0.00000
02:00:09 '9703': instant order buy EURUSD at 1.32990 sl: 0.00000 tp: 0.00000
02:00:09 '9703': request was accepted by server
02:00:09 '9703': requote 1.32972 / 1.32992 for open buy EURUSD at 1.32990 sl: 0.00000 tp: 0.00000
02:00:10 Publisher: ok
02:00:11 '9703': instant order buy EURUSD at 1.32992 sl: 0.00000 tp: 0.00000
02:00:11 '9703': request was accepted by server
02:00:11 '9703': requote 1.32975 / 1.32988 for open buy EURUSD at 1.32992 sl: 0.00000 tp: 0.00000
02:00:12 '9703': instant order buy EURUSD at 1.32988 sl: 0.00000 tp: 0.00000
02:00:12 '9703': request was accepted by server
02:00:13 '9703': requote 1.32973 / 1.32990 for open buy EURUSD at 1.32988 sl: 0.00000 tp: 0.00000
02:00:13 '9703': instant order buy EURUSD at 1.32990 sl: 0.00000 tp: 0.00000
02:00:14 '9703': request was accepted by server
02:00:14 '9703': requote 1.32976 / 1.32989 for open buy EURUSD at 1.32990 sl: 0.00000 tp: 0.00000
02:00:15 '9703': instant order buy EURUSD at 1.32989 sl: 0.00000 tp: 0.00000
02:00:15 '9703': request was accepted by server
02:00:15 '9703': requote 1.32974 / 1.32991 for open buy EURUSD at 1.32989 sl: 0.00000 tp: 0.00000
02:00:16 '9703': instant order buy EURUSD at 1.32991 sl: 0.00000 tp: 0.00000
02:00:16 '9703': request was accepted by server
02:00:16 '9703': requote 1.32982 / 1.33000 for open buy EURUSD at 1.32991 sl: 0.00000 tp: 0.00000
02:00:17 '9703': instant order buy EURUSD at 1.33000 sl: 0.00000 tp: 0.00000
02:00:18 '9703': request was accepted by server
02:00:18 '9703': requote 1.32982 / 1.33002 for open buy EURUSD at 1.33000 sl: 0.00000 tp: 0.00000
02:00:19 '9703': instant order buy EURUSD at 1.33002 sl: 0.00000 tp: 0.00000
02:00:19 '9703': request was accepted by server
02:00:19 '9703': requote 1.32983 / 1.33000 for open buy EURUSD at 1.33002 sl: 0.00000 tp: 0.00000
02:00:20 '9703': instant order buy EURUSD at 1.33000 sl: 0.00000 tp: 0.00000
02:00:20 '9703': request was accepted by server
02:00:21 '9703': requote 1.32995 / 1.33015 for open buy EURUSD at 1.33000 sl: 0.00000 tp: 0.00000
02:00:21 '9703': instant order buy EURUSD at 1.33015 sl: 0.00000 tp: 0.00000
02:00:21 '9703': request was accepted by server
02:00:22 '9703': requote 1.32997 / 1.33014 for open buy EURUSD at 1.33015 sl: 0.00000 tp: 0.00000
02:00:22 '9703': instant order buy EURUSD at 1.33014 sl: 0.00000 tp: 0.00000
02:00:23 '9703': request was accepted by server
02:00:23 '9703': requote 1.32979 / 1.33002 for open buy EURUSD at 1.33014 sl: 0.00000 tp: 0.00000
02:00:23 '9703': instant order buy EURUSD at 1.33002 sl: 0.00000 tp: 0.00000
02:00:24 '9703': request was accepted by server
02:00:24 '9703': requote 1.32971 / 1.32986 for open buy EURUSD at 1.33002 sl: 0.00000 tp: 0.00000
02:00:25 '9703': instant order buy EURUSD at 1.32986 sl: 0.00000 tp: 0.00000
02:00:25 '9703': request was accepted by server
02:00:25 '9703': requote 1.32972 / 1.32987 for open buy EURUSD at 1.32986 sl: 0.00000 tp: 0.00000
02:00:26 '9703': instant order buy EURUSD at 1.32987 sl: 0.00000 tp: 0.00000
02:00:27 '9703': request was accepted by server
02:00:27 '9703': request in process
02:00:27 '9703': order was opened : #41855 buy EURUSD at 1.32987 sl: 0.00000 tp: 0.00000
Will Schaarrand
pipinvestment1
Nov 25 2010 at 23:17
219 inlägg
02:28:14 '9703': instant order buy EURUSD at 1.32902 sl: 0.00000 tp: 0.00000
02:28:14 '9703': request was accepted by server
02:28:15 '9703': requote 1.32885 / 1.32906 for open buy EURUSD at 1.32902 sl: 0.00000 tp: 0.00000
02:28:16 '9703': instant order buy EURUSD at 1.32906 sl: 0.00000 tp: 0.00000
02:28:17 '9703': request was accepted by server
02:28:17 '9703': requote 1.32896 / 1.32917 for open buy EURUSD at 1.32906 sl: 0.00000 tp: 0.00000
02:28:18 '9703': instant order buy EURUSD at 1.32917 sl: 0.00000 tp: 0.00000
02:28:18 '9703': request was accepted by server
02:28:18 '9703': request in process
02:28:18 '9703': order was opened : #41969 buy EURUSD at 1.32917 sl: 0.00000 tp: 0.00000
Will Schaarrand
pipinvestment1
Nov 25 2010 at 23:18
219 inlägg
14:49:18 Publisher: starting
14:49:19 Publisher: ok
14:51:38 '9703': cannot login [Trade is disabled]
14:52:06 '9703': cannot login [Trade is disabled]
14:52:20 '9703': cannot login [Trade is disabled]
14:54:19 Publisher: starting
Will Schaarrand
pipinvestment1
Nov 25 2010 at 23:21
219 inlägg
HOTForex - Scalping with 'iDRAW' swing trades

I haven't had any problems until I started to receive to requotes lastnight while scalping. Also today, I've discovered that Trading functions are disabled. I can not close open orders, delete pending, or open new orders. I will be contacting the broker now.
Will Schaarrand
pipinvestment1
Nov 26 2010 at 08:10
219 inlägg
I contacted Online support three seperate times over the last 9 hours. The first Rep, said they would contact me immediatiely and get the platform up and running within the hour.. I waited for 2 hours and I never received an email. I then sent emails to their Tech Support after 2 hours of No Trading functions.

A nice Dinner and several hours later, still no response. I then contacted Online Support (chat) once again to solve this problem, now they tell me I need to wait for the Tech group to come to work in another 2 hours and the problem will be solved. I waited for another 2+ hours. No response. I contacted Online support for the third time and 'JOHN' fixes the problem himself within a minute. He does not tell me why this happened, but only reassures me that It will not happen again. yeah Right. What do you think? Would you give a broker another chance?

Here is the final Chat discussion....

Please wait. A representative will be with you shortly.
John says:
  Hello Will. My name is John how can I help you?
Will says:
  your broker has turned off my trading function over 9 hours ago
Will says:
  I have not received an email or have I been contacted regarding this issue
John says:
  I am very sorry for this sir this will be fixed immediatley.
John says:
  Is it your EA sir?
Will says:
  no. I can not open or close trades manually
Will says:
  Trade Disabled
John says:
  Ok i will fix this for you will.
John says:
  May i have your account number please?
Will says:
  XXXXXX
Will says:
  and an explanation for this problem would be appropiate
John says:
  Please restart your MT4 please Will.
Will says:
  that was sure easy. Why did it take half the day with No answers
Will says:
  and why was it disabled in the first place
Will says:
  How can I trust your brokerage with larger amounts of $$ when your broker is playing these games with a small account.
John says:
  Sir, i can assure you this does not happen often, and that you will have no problems in the future, any problem's you may have we can fix them for you right away.
Will says:
  Ok, so considering that I was unable to trade or more importantly, Manage my Open trades, how will I be compensated.
Will says:
  Its been over 9 hours and EURUSD has moved against me 90 pips
John says:
  Let me check this for you sir.
Will says:
  the $ is not the issue to me, its how your broker operates. and how these issues will be handled
John says:
  Ok sir, my manager will call you in 15 minutes sir to discuss this.
Will says:
  Just have him email me.

Why would a Broker do this in the first place??? To make us LOSE our money right?
TraderHotch
Nov 26 2010 at 09:07
9 inlägg
It could be many things to be honest. They may have been trying to fix it all day and only contacted you when they know they could.

That being said, even though I doubt it is malicious, I would stick with other brokers.
Life getting tough? God fears your progress.
Will Schaarrand
pipinvestment1
Nov 26 2010 at 22:50
219 inlägg


Dear Will,
 
We apologize for any inconvenience caused to you with regards to your account being disabled. HotForex is an STP broker which means we pass through all of our trades to our liquidity providers within Currenex. Periodically the liquidity providers perform account checks in order to ‘weed out’ accounts using Sniping Expert Advisors which can ‘choke’ the servers with excessive trading frequency.
 
We investigated the issue regarding the disablement of your account and did not find anything wrong with it. We have then have taken the matter with our liquidity providers and they replied to us that we are right so they have re-activated your account.
 
Again we do apologize for the inconvenience.
 
Best Regards,

HotForex Support
 
Will Schaarrand
pipinvestment1
Nov 26 2010 at 22:58
219 inlägg

pipinvestment1 posted:
    
 Periodically the liquidity providers perform account checks in order to ‘weed out’ accounts using Sniping Expert Advisors which can ‘choke’ the servers with excessive trading frequency.
 


A liquidity provider encourages Scalping, High frequency Trading as more volume makes financial markets liquid.🙄

The only source of Malicious activity is the broker's Dealing Desk, where the broker has the option to Disable your trading account if you are making Money.

 If this was an honest broker/true Straight Though Processing(STP) then the broker would earn their $$$ from commission/spread markup.


Will Schaarrand
pipinvestment1
Nov 26 2010 at 23:01
219 inlägg
STP — Straight Through Processing — STP Forex brokers send orders directly from clients to the liquidity providers - banks, which trade on the Intebank. Sometimes STP brokers have just one liquidity provider, other times several. The more there are banks and liquidity in the system, the better the fills for the clients. The fact that traders have access to the true market and can execute trades immediately without dealer intervention is what makes the platform STP.
SolarFX (forexma)
Nov 28 2010 at 21:24
1332 inlägg
Mauritius based broker, no thanx. Why are wasting your time with this crap?
"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Will Schaarrand
pipinvestment1
Nov 29 2010 at 04:01
219 inlägg
Three strategies:
1.) Scalping
2.) iDRAW- swing trades and to offset temporary risk
3.) Expert Advisor - I built an EA based on PA over 4 months ago, but I never finished it as I had many bugs and unfinished logic. It is not stable for 24 Hour non stop use, however, like many successful strategies you need to know when and when not to use that particular strategy. This EA's strategy works very well for choppy sessions, Sunday Gaps, Market open/close and News Volatility. The weak point of this EA is in Trending Sessions.

Will Schaarrand
pipinvestment1
Nov 29 2010 at 04:47
219 inlägg
Are you f***** joking me.. They disabled my trading Functions again.
Will Schaarrand
pipinvestment1
Nov 29 2010 at 07:33
219 inlägg
Broker contacted me via Phone.'' Apologized....'' He said the problem will not happen again.

The reason why my account is automatically disabled is from the aggressive/ frequent trading activity. This is a protocol to prevent arbitrage trading. They looked over the account history and confirmed my style is not arbitrage. Therefore, my account is up and running again.

I will continue to trade with them.

I do understand the necessary steps they take to preserve their wealth.

However, if they were a TRUE STP (brokers make their $$ from Commission and truly pass on ALL trades to their liquidity provider), this procedure of account freezing would not happen.

 I would have to say that brokers are representing themselves as STP whether they are or not.



Will Schaarrand
pipinvestment1
Nov 29 2010 at 17:44
219 inlägg

forexma posted:
    Mauritius based broker, no thanx. Why are wasting your time with this crap?

I don't think Location matters as much as the Integrity behind the desk. I've been lucky to find Smarttradefx over the last month and the only way I was able to find them is through Trial and Error with random brokers.

HotForex gave me a 5% deposit for the hassle and another apology. I won't blow the whistle yet. As long as the withdraws goes through and my account is not blocked again, I'll continue to test this broker further. I will probably test some more brokers in December and possibly in January as well.
Will Schaarrand
pipinvestment1
Dec 02 2010 at 17:24
219 inlägg
withdraw in process- closing account.. This broker failed
Will Schaarrand
pipinvestment1
Dec 03 2010 at 14:15
219 inlägg
I couldn't resist not trading NonFarmPayroll for at least 30 minutes today😀. No issues with execution besides a requote on the spike. The rest of the trades were executed without any problems.
Will Schaarrand
pipinvestment1
Dec 07 2010 at 17:49
219 inlägg
Sent Withdraw Form today
Will Schaarrand
pipinvestment1
Dec 09 2010 at 20:16
219 inlägg
duzyfx
Dec 10 2010 at 03:34
257 inlägg
so why did this broken 'failed' ... was it because they suspended your account twice ? you did get 5% of your account balance for that ...???
Will Schaarrand
pipinvestment1
Dec 10 2010 at 05:04
219 inlägg

duzyfx posted:
    so why did this broken 'failed' ... was it because they suspended your account twice ? you did get 5% of your account balance for that ...???

They suspended my account twice...Both times, I had open positions that I could not manage for almost a day. I did receive the 5% bonus, however they told me I would receive a 10% bonus on the Phone....

They also deleted two pending orders and closed one open position my last day with them.

They advertise STP. lol. 😉 Yeah right... Liquidity providers do not care about scalping and or arbitrage EA'S.. Only shady Market Maker brokers do.. (These brokers rely on blown accounts and can not operate solely on the spread markup/commission that a true STP relies on.)

Now, it has taken a lot of time, effort and research to figure out how and why brokers operate the way that they do. And honestly the majority of brokers including some of the largest and vastly advertised brokers play games with profitable traders including requotes and delayed execution... Both FXCM and Forex.com has both been caught red handed from these Broker Tactics......

I've tested over 10 brokers in the last few years and I've finally found an honest STP broker. And, this is why I am using a NON regulated Canadian Based Broker.

SmartTradeFX has no doubt proved to be a solid contender and a true STP. I've never received a single delay or requote in my 400+ scalps..... That should answer a lot of the your questions about the integrity of this broker.
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