What is better to use - Hotforex rebates or third-party cash back service?

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doggyfx

Hey guys,

I have account with Hotforex, just discovered they offer rebates as a reward program.

Is it better to use this program or sign up to third-party cash back service. Anybody has experience of using them simultaneously?

Your replies are appreciated
 
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JackRab said:
It's better to use a proper brokerage firm instead of dodgy forex only bucket shops...
More...

Do all forex brokers are bucketshops? Why? Retail industry is relatively large and I trade only with old brokers which are tested by time. I don't think scumbags will live long there if they constantly scam their traders.
 
doggyfx said:
Do all forex brokers are bucketshops? Why? Retail industry is relatively large and I trade only with old brokers which are tested by time. I don't think scumbags will live long there if they constantly scam their traders.
More...

Not all.. but a lot. That's because forex trading is largely unregulated. Since you're effectively trading the currencies of 2 different countries... who is the regulator? Why do you think there are so many to choose from?

I don't know HotForex... but one way to look for bad apples is checking their domicile etc.

Your last sentence... I would hope so, but unfortunately that's not the reality. It's hard for a US or EU regulator to impose restrictions and fines on companies that operate out of Latin/Mid America or some small island in who knows where...
 
HotForex Review. HotForex is a Forex broker headquartered in Mauritius. It is regulated by the Financial Services Commission (FSC) of the Republic of Mauritius under the name of HF Markets Ltd.Jun 20, 2016

So... the FSC of Mauritius... o_O... I would call that 'non-regulation'.
 
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