Hotspot FX

Anyone who has any experience with them? Reliable?

they are a ecn broker, you can't go wrong with that.

Htbreaker: Not that i would scalp, but is it allowed?

Great ECN broker, yes they allow scalping

There's no need for any ECN to disallow scalping because they aren't holding positions against you. It's only the bucketshops that hate scalpers.

Sounds great. It's either this broker or interactive brokers.

According to this website: http://www.londonfx.co.uk/ecn.html

hotspot fxi has at least 14 banks that provide liquidity. Does that also apply to the hotspot fx(retail version) platform?

Yeah i am looking for a good ecn too, but are these guys gonna meet that nfa 20 mil requirement?

Razorman: i got this mail from an irritated professional currency trader(your question about capital requirement is answered in his response):


Re: hi again.

_mas wrote on 01-23-08 08:14 AM:

Hi, i sent you a message before, but i send one again, incase you didnt get it.

I would appreciate to hear your experience and ups and down with hotspot fx. Im about to open an account with them, so this would be in handy before pressing the open account button.

"What, I didn't drop what I was doing to respond to your request fast enough? You expected me to stop what I was doing to write right back? Maybe, just maybe, I'm not sitting in Mom's basement trading paper accounts but that I might be running a business managing money and employees during working hours?

As to your questions:
What, I didn't drop what I was doing to respond to your request fast enough? You expected me to stop what I was doing to write right back? Maybe, just maybe, I'm not sitting in Mom's basement trading paper accounts but that I might be running a business managing money and employees during working hours?

As to your questions:

Hotspot is one of the best platforms out there. It is used by more hedgies and banks than any other single fx platform, even EBS, however, EBS is the platform that executes the really large trades, i.e. 20MM+. I have never had any problems in a regular market, and even in some fast markets getting my orders filled. I have pushed thru 10MM trades with 0-.5 slippage, mostly 0. Prices are good, but I find I get better commissions from IB. I have a prime account now and use FX(i) and get tighter spreads than retail. If you put it up side by side with Oanda, you'll find at times some tighter spreads on the majors with Oanda. Factor in commissions, costs can be a little higher. However, Hotspot is still one of the 2 platforms I will trade with.

What I don't like? I don't care for the appearance. Takes a while to get used to it. Also, don't like how they do depth, but showing cumulative totals as opposed to individual, like Currenex. I can understand why tho as with one shot, you can see whether or not your 5MM trade will be executed w/o issue.

As to counterparty issues, will you be getting a line of credit with a bank to trade currencies for your own account? No? Well, then who represents your trade in the interbank? Someone has to. Do you trade stocks? Do you have your own b/d with your own clearing and MSID? If not and you trade thru, say, Genesis or Goldman, who's name do you think is used to represent your trade? This is what a broker acting as a counterparty is. When you trade stocks with Goldman, your account doesn't exist on the market, it is Goldmans. You account doesn't even exist except for internal account software within Goldman.

I have been using them for almost 2 yrs now and have had little complaint. An occasional excution problem but not something that can be easily figured out.

As to the capitalization issue yu mentioned in one of your earlier posts, why should they tie up capital in excess of minimum requirements, just to make someone like you or me feel better about their financial soundness? Do you not think for a moment that if there developed a capital issue that the Parent, Knight, wouldn't infuse capital? This is a non issue. yes, Oanda has 60MM and FXCM has 40MM but this is all they do. Where else would the firms money be if not on account? This is really a non-issue for Knight/HotspotFx."



Incase you didnt know: knight capital(which quite recently bought hotspot) is a big company listened in on stock exchange.

you don't have to worry about knight/hotspotfx, if they want they can show $1billion if they wanted to, very big compay.

sounds very interesting

I manage accounts through hotspot.

They are very good. No problems at all. Customer service is good as well.

i think they dont accept retail client