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HOTFOREX PAMM managed accounts are DESIGNED TO MISLEAD YOU - BEWARE! | Forex Peace Army - Your Forex Trading Forum

Search titles only Posted by Member: Separate names with a comma. Search this thread only Search this forum only Display results as threads. Forex Peace Army - Your Forex Trading Forum. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. HOTFOREX PAMM managed accounts are DESIGNED TO MISLEAD YOU - BEWARE! Jan 15, Messages: BEWARE OF THE managed PAMM ACCOUNTS WITH HOTFOREX!!! They are presented in such a way as to mislead potential investors into believing that their performance is much better than it really is.

There is a massive loophole whereby PAMM account managers can in fact lose large percentages of their accounts under management, but still have the appearance of trading well, AND being paid handsome sums for it! It's because of how HOTFOREX is set up. The loophole is this: Hotforex only graphs closed trades in their performance view of each fund manager, and stipulates that PAMM account managers get rewarded according to a high water system based only on CLOSED trades.

So many of the 'best' fund managers with Hotforex are actually losing heaps of money, except that they never close all those bad trades - they just let them drift indefinitely, knowing that it is absolutely not in their interest as a fund manager to close them.

You're a PAMM account manager. You go ahead and blithely place heaps of trades each day without even thinking about their probability of success - you know that later you can close the ones that happen to be profitable for a profit, and just leave all the negative ones to hang indefinitely. NOT FOR INVESTORS IT ISN'T A GREAT SYSTEM! You can go to Hotforex and see all the upward sloping graphs you like.

Take the example of their NUMBER ONE RATED PAMM ACCOUNT MANAGER, CO-INVEST: And just look at that upward sloping performance graph!!! The graph is meaningless, misleading, and designed to fool unfortunate investors like myself into believing that the fund manager is much better than they really are.

All the while actually LOSING THE MONEY OF THE ACCOUNT HOLDERS through their trading. And since then, the account equity has continued to fall! Stay away from HOTFOREX in general. I have been reading about their bonus systems, as some people have raised an issue with this - well, I didn't go in for this area of their business as it didn't make sense to me.

But rest assured, THIS BROKER IS OUT TO GET YOU IN MORE WAYS THAN ONE. YOU HAVE BEEN WARNED! Oct 3, Messages: Send an email to HotForex and invite them to join this discussion thread.

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Jun 3, Messages: BEWARE OF THE managed PAMM ACCOUNTS WITH HOTFOREX!! May 21, Messages: For example if you go to the page link you have submitted you can see the following information: Kind Regards, Venelin Videnov Official HotForex Representative venelin hotforex.

I don't think so. The moment you agree TOS you assumed this risk. How can you trust somebody you don't know and give him your money? Internet is full with reputable fund managers. You must only search on Google.

Mar 10, Messages: Had a chat with Venelin from Hotforex - who has endeavoured to resolve the issues I've outlined above. Correct me, Venelin, if I misrepresent any of the following details Finally, yes, there has been an accounting problem with the new PAMM accounts such that open floating losses have been incorporated immediately into the equity amounts of new investors.

Venelin assures me that the IT department are now at work to fix this problem.

Venelin assured me also that my losses due to this issue would be reimbursed, plus a bit more, which is very decent. Also Venelin from Hotforex assures me that in future, there will be a clearer representation of the performance of PAMM account managers - including a graph of actual account equity net value of the account including closed and open trades. Anyway, so certainly some signs of improvement from Hotforex, where frankly they were much needed. Will keep you posted as to how these things are carried out over time - as far as I know it could still take a little time for all the changes to take place.

But for sure, these are definite signs of improvement. May 15, Messages: Hi It seems Hotforex has no done any major changes to their PAMM v2 since Jan 03 post. Ranking system is absolutely crazy and most of the numbers presented there do no correlate real situation.

I had a brief conversation with HF support about their PAMM V2 system and how to improve it, but reply was a bit cold. I guess they are happy with the current system setup?? Unfortunately there is some really bad behavior happening and some of the traders are using the system flaws to lure money in to their funds just to raise commission without really doing profitable trading.

Just to give one example from multiple shady funds. This trader is dangerously close having a margin call. TRUE PROFIT not shown anywhere: HF numbers and graphs are showing excellent performance, but in real life this guy did not do single penny profit.

This guy has been paid from his "profitable trading" and this is straight out of investors pocket. Of course HF will get their share from his trading. Would these investors give such funds if DD would be shown correctly or real profit was shown??? I hope HF does not get me wrong here.

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I do like their PAMM system and there is few good traders to follow. Yes I agree you should not do stuff like that, but unfortunately it is not so straight forward issue. I really hope HF would change their system how it calculates profit, monthly gains, DD. They have all the numbers ready, but they need to do some fine adjusting to them.

How the system is setup at the moment feels like a small scam where you need to navigate manually to find out true numbers.

Profit, start small, trader has been around over days. There is some decent hedge traders with controlled open position strategy, but those you need to find out by daily following their trading. Jan 9, Messages: So people can guess what could be the reason for so high rating. Oct 17, Messages: You must log in or sign up to post here. Share This Page Tweet. HOT FOREX PAMM ACCOUNT REVIEW MultimediaDesigner posted Jun 14, Wilex posted May 2, Title Start Date Replies Views Last Message. SalmanJ , Jun 20, at 7: SalmanJ Jun 20, at 7: FxMaster Jun 21, at 9: COM simk67 , Jun 20, at 3: Currency Strength and Weakness for Monday 29th May — Strength in the NZD pairs for Monday Andrew Mitchem , May 28, Andrew Mitchem May 28, FOREX PRO WEEKLY, June 05 - 09, Sive Morten , Jun 3, After Spike Trade Plans for Week 22, May 28 — Jun 3 Peter O , May 28, Currency Strength and Weakness for Tuesday 30th May — The CHF remains weak Andrew Mitchem , May 29, Andrew Mitchem May 29, Review Moderation or Kindergarten?

AsstModerator , Jun 9, FOREX PRO WEEKLY, May 29 - 02, Sive Morten , May 27, Sive Morten Jun 2, Currency Strength and Weakness for Wednesday 24th May — Time for the EUR to fall? Andrew Mitchem , May 23, FOREX PRO WEEKLY, June 12 - 16, Sive Morten , Jun 10, Sive Morten Jun 16, at 2: AssarV10 EA AlainShm , May 27, AlainShm Jun 21, at 9: Shalaby , May 30, BIG OPTION Izzypower , Aug 20, Cheating by XM Ming Thoo , Jun 19, at 6: Ming Thoo Jun 21, at 4: Sanatan Jun 21, at 1: A shady operation called Alldayoption idedwards , Mar 17, AllDayOptions Scam broker - Withdrawal Issues santyforex , Feb 10, How to Build a Forex Trading Strategy Jarratt Davis , Jun 21, at Jarratt Davis Jun 21, at Cheating by Octafx in trade Execution.

XTrade XForex Fraud Ramin , Oct 12, Ramin Jun 21, at 9: Your name or email address: Do you already have an account? No, create an account now.

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