HotForex

[comm4300]

First option, Hot Forex holds monthly contests,you may participate in them and win the contest, many positions are to be won. These contests are held in Demo Accounts. According to their T&C if you are among the winners your account will be funded by them as prize money. Then you are on a safe side of not sending any money to them through converting INR to USD but getting money to trade . You will be able to withdraw money from your profits after completing certain number of trades.

Second option is that you have a friend residing in a country which does not have restrictions on forex trading. You can ask your friend to open a trading account and fund that account. This account will however be in your friend's name obviously. This is however not a very practical solution for those who do not have friends residing abroad.

Third option is the Paid to Post Forex Forums where you earn by posting, accumulate the amount earned which is then transferred to the sponsor forex broker account and you can then trade with that amount. Many Indians are doing such PTP earning for trading forex .

But in third case you will not have the choice of Hot Forex as the sponsor of the PTP forum can be some other broker like Insta Forex.

thank you so much. Esp. option 3 was something new.

thanks again.

 

[DataRam]

thank you so much. Esp. option 3 was something new.

thanks again.

You are most welcome.

One such Forum is:http://forum.mt5.com/index.php

Very popular PTP forum and many Indians present there.

There is also one scheme which goes with many brokers from time to time and that is called No Deposit Bonus . So the client is gifted some trading amount in advance by the broker to start trading like $10-$25 and if the client is able to make profits then he/she can accumulate profits for inflating capital. Later on profits can be withdrawn after deduction of commission charged by broker which is deducted from the profits itself. So basically no question of adding funds. This kind of bonus and rules depend on broker to broker and the countries allowed for getting such bonus amount are also mentioned by them.

Checkout this link : http://www.bestforexbonus.com/nodeposit-bonus

Best !! :thumb:

 

[Saiyyed Rafik]

having heard so many good reviews about Hotforex i am eager to open a/c with them. However, someone please guide as to how one can fund hotforex w/o breaking any of the RBI rules.

Please dont' ask me to PM you...just share your idea here for the benefit of all.

thanks.

Check your personal message box for answer.

 

[comm4300]

You are most welcome.

One such Forum is:http://forum.mt5.com/index.php

Very popular PTP forum and many Indians present there.

There is also one scheme which goes with many brokers from time to time and that is called No Deposit Bonus . So the client is gifted some trading amount in advance by the broker to start trading like $10-$25 and if the client is able to make profits then he/she can accumulate profits for inflating capital. Later on profits can be withdrawn after deduction of commission charged by broker which is deducted from the profits itself. So basically no question of adding funds. This kind of bonus and rules depend on broker to broker and the countries allowed for getting such bonus amount are also mentioned by them.

Checkout this link : http://www.bestforexbonus.com/nodeposit-bonus

Best !! :thumb:

@ rockyrobust : follow up questions:

I checked about paid to post method and did not like it very much. Firstly, as you mentioned Hotforex is not part of it and secondly, the payment seems to be in cents - and to gather up enough to open even a micro account would likely take a month's time at least.

The next option of using Forex bonus looked attractive. I checked the link you sent - and sorted the list based on comments and stars received - from which Tradefort came out to be number one on the list.

Can we trust the comments/stars on these websites - pardon my doubt - asking because these too could be paid to post type of business. And can we share out ID proofs like PAN and DL numbers on the brokers site ?

kindly share your views.

many thanks.

 

[ctech]

I'd got email from hotforex introducing their myhotforex new account platform.

I registered and found the design is quite good and the most attractive part is that the wallet can transfer money instantly.

 

[Saiyyed Rafik]

I'd got email from hotforex introducing their myhotforex new account platform.

I registered and found the design is quite good and the most attractive part is that the wallet can transfer money instantly.

So we can able to use myhotforex under the exiting account or we need to create new one to use benefits of myhotforex ?

 

[ctech]

So we can able to use myhotforex under the exiting account or we need to create new one to use benefits of myhotforex ?

I figured it out. they are two different systems.
myhotforex is the new system, and existing account could not be used in the new platform. actually i opened new account and make it as the major one now.

 

[Bullish]

Hi Friends,

Can we trade in foreign currency other than USDINR in OTC market are there any drawbacks in that

are there any regulations bind to an NRI to trade in the Ind Stock market.

What are the taxation laws for NRI investing in india.

 

[Saiyyed Rafik]

I figured it out. they are two different systems.
myhotforex is the new system, and existing account could not be used in the new platform. actually i opened new account and make it as the major one now.

My question is why ?

Why we can`t use myhotforex with existing account ?

@Bullish : Bhai jake IRB ke rules padho ya isi forum me search karlo aapko pata chal jayega ek baat baar baar dohrane me majaa nahi aati hain ke IRB ke hisab se Forex Trading tum nahi kar sakte hon.

@@Bullish : Bro when you enter in this forum (Forex section) you will see one Sticky Thread by admin please read it to get your answer. Or Click-here to read it.

 

[Kungfu]

I figured it out. they are two different systems.
myhotforex is the new system, and existing account could not be used in the new platform. actually i opened new account and make it as the major one now.

Oh no. I think you misunderstood.

You're right when say they are two different systems. However, in new myhotforex, you can attach your previous account to new account in new system. I have done this so I know clearly and I get withdrawal successfullly my old account.