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    What HotForex did to this guy

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    francmorio

    Posts : 31
    Join date : 2017-06-22

    What HotForex did to this guy

    Post  francmorio on Thu Sep 28, 2017 6:04 am

    I have an account in hotforex.com
    My account made profit more than double after one week.
    One day before US election as i knew Japanese Yen would strength i have sell GBPJPY and at 00:02 server time suddenly i noticed that all my transactions have been closed.
    There was no sever fluctuations on price, suddenly i noticed high and unreasonable spread and just on the the pair of my positions! It is clear in the image that i provide.
    My analyze and prediction are completely correct and if the broker wouldn't margincall me, it would terminate to at least 30k $ profit in less than 4 hours.
    I have complain to hotforex via email. Their first answer was "during us presidential election spread widening ..." i answered 24 pips widening is not acceptable even for us election.
    After more following from me they answered that they get the prices and spread directly from liquidity providers with no interference so i replied i am hotforex client and have contract with hotforex and not liquidity providers so i can not complain to them.
    So this is my question , are brokers allowed to increase spread as wide as they want with any excuse that they want and as a result margincall the client account? Are they allowed to use some thing like US presidentional election as an excuse? Are they allowed to say they get the price and spread from liquidity providers to escape of changing prices on their own and so they have no responsibility?
    As a professional trader i have accepted all the Forex deal risks but unfortunately with this kind of brokers plus all the nature risks in this market we should wait for other factors to lost our deposit.
    I would appreciate if you know a way to complain about this fraudulent broker kindly let me know.




      Current date/time is Sat Nov 18, 2017 6:33 am