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Hotspot

  • #1
  • First Post: Jun 2, 2008 2:51am Jun 2, 2008 2:51am
Hi guys! great forum here! Does anybody of u have some experience with hotspot fx? I just tried the demo... and in my opinion it is a really good ecn platform... what do you think?
  • #2
  • Jun 2, 2008 2:49pm Jun 2, 2008 2:49pm
I'm not too keen on their platform.

But they otherwise an excellent broker. Exceedingly fast execution.
  • #3
  • Jun 3, 2008 4:55am Jun 3, 2008 4:55am
Quoting mrgekko
Hi guys! great forum here! Does anybody of u have some experience with hotspot fx? I just tried the demo... and in my opinion it is a really good ecn platform... what do you think?
I had accounts with InterbankFX,and Oanda(just loss my time with them)
Now I trade with hotspotfx and I am so happy for that.Instant execution,no slippage,no more server down,disconections.Commisions + spread not so different from 0,9pips at Oanda.(0.9 but real was 1 to 5 pips in my case).
Go with them and you don't have to wach your back from your br0ker.Think only at trading...
Platform is stable and you can place all kind of orders .Easy to use it.
  • #4
  • Jun 3, 2008 9:29am Jun 3, 2008 9:29am
for what its worth i find oanda unbelievably bad.. stop hunting and when u query a fill or lvl they are extremely rude.
  • #5
  • Jun 3, 2008 6:20pm Jun 3, 2008 6:20pm
Quoting beekeeper
for what its worth i find oanda unbelievably bad.. stop hunting and when u query a fill or lvl they are extremely rude.
Really? Never face that kind of response though my account just a nemo in the sea of fishes.
  • #6
  • Jun 4, 2008 10:46pm Jun 4, 2008 10:46pm
Quoting mrgekko
Hi guys! great forum here! Does anybody of u have some experience with hotspot fx? I just tried the demo... and in my opinion it is a really good ecn platform... what do you think?
I am still new with Hotspot FX Retail, but so far I am very happy with them! One down side is that their servers are down from 5:00pm to 5:20pm EST, but they told me they are working on making that only 1 minute. Execution has been great! Appearantly though trades don't show up in your balance until three days later, I guess to make sure there were no glitches that caused false quotes. I am overall very happy so far with them. Oanda is good in its own way, but for my trading style, Hotspot is much better!
  • #7
  • Jun 4, 2008 10:49pm Jun 4, 2008 10:49pm
Quoting ILclitoride
I had accounts with InterbankFX,and Oanda(just loss my time with them)
Now I trade with hotspotfx and I am so happy for that.Instant execution,no slippage,no more server down,disconections.Commisions + spread not so different from 0,9pips at Oanda.(0.9 but real was 1 to 5 pips in my case).
Go with them and you don't have to wach your back from your br0ker.Think only at trading...
Platform is stable and you can place all kind of orders .Easy to use it.
You traded with InterbankFX? I did for about 2 months a couple years ago... Lousy broker! Oanda is a lot better than InterbankFX, but Hotspot is clearly better than both to me. No comparison really, so I agree with you on that. How long have you been with Hotspot Moe?
  • #8
  • Jun 5, 2008 10:20am Jun 5, 2008 10:20am
Quoting willis11of12
I am still new with Hotspot FX Retail, but so far I am very happy with them! One down side is that their servers are down from 5:00pm to 5:20pm EST, but they told me they are working on making that only 1 minute. Execution has been great! Appearantly though trades don't show up in your balance until three days later, I guess to make sure there were no glitches that caused false quotes. I am overall very happy so far with them. Oanda is good in its own way, but for my trading style, Hotspot is much better!
Its the banks settlement procedure. If you are european customer, you can see in the backoffice what amounts are currently 'On delivery' and what deals have already settled. Look up 'tommorrow next' on investopedia.com for details.
  • #9
  • Jun 5, 2008 10:47am Jun 5, 2008 10:47am
Quoting willis11of12
You traded with InterbankFX? I did for about 2 months a couple years ago... Lousy broker! Oanda is a lot better than InterbankFX, but Hotspot is clearly better than both to me. No comparison really, so I agree with you on that. How long have you been with Hotspot Moe?
thats not me.
If I Go Broke Trying Then I Will die happy.
  • #10
  • Jun 7, 2008 7:03am Jun 7, 2008 7:03am
Quoting Moe
thats not me.
Yes,thats me ...
http://img34.picoodle.com/img/img34/...em_e574a57.jpg
  • #11
  • Jun 7, 2008 10:25pm Jun 7, 2008 10:25pm
Wow.... I am such a retard sometimes!
  • #12
  • Jun 10, 2008 10:36pm Jun 10, 2008 10:36pm
Hi,

After reading the generally positive comments about Hotspot, I wish to familiarise myself with Hotspot's trading platform before deciding whether to switch to it.

So for the past 2 days I have tried to register a demo account on Hotspot website, but I always received a "System error, please try again later" message. I sent two separate enquiries directly to Hotspot through the "Contact Us" facility on Hotspot website, explaining the problem. But there has been no response from Hotspot.

So I am prompted to check: Does anyone know whether Hotspot is still accepting new retail customers directly, or has it decided to accept new retail customers only through Introducing Brokers.

Thanks in advance.

P.S. By the way, the website that I visited was www.hotspotfx.com
  • #13
  • Jun 10, 2008 10:43pm Jun 10, 2008 10:43pm
try using this link

http://eu.hotspotfx.com/trading-soft...-registration/

i registered there and no problem at all.
  • #14
  • Jul 23, 2008 9:57am Jul 23, 2008 9:57am
Hi,

i have recently heard that spreads on hotspot (demo vs real) are different (spreads on demo are more tight than at real). is it true?
  • #15
  • Jul 23, 2008 11:04am Jul 23, 2008 11:04am
Yes, they are different. Demo spreads are a bit better than live. On live eur/usd and usd/jpy is most of the time 1, gbp/usd 2, usd/chf and eur/jpy 1.5-2, gbp/jpy 4-5. Live is clearly not as good as the demo when compared side by side.
  • #16
  • Jul 29, 2008 5:38pm Jul 29, 2008 5:38pm
but is hotspot reliable? can somebody who is trading live with them write something more?
  • #17
  • Jul 29, 2008 10:27pm Jul 29, 2008 10:27pm
Quoting Signum
but is hotspot reliable? can somebody who is trading live with them write something more?
I've been trading live with them for a couple months now, and of all the brokers I have traded with the last three years, they are the best I have been with, especially their spreads and real market movements. They used to have their servers down for about 20 minutes at 5pm EST, but now it is constant all week! Since they made that switch, I don't know if I have had any disconnects at all, other than my internet going out when my internet gets disconnected. I think there might have been one time for a few seconds, but otherwise I don't have any disconnects running my API 24 hours a day.
As a side note, I took my first withdrawal from them last week and I got my money the next day, as they had to wait until the morning to send the wire.
I am still considering looking into Interactive Brokers in the future, (for possible tighter spreads) but Hotspot is certainly the best I have traded with yet! =) Other than someone offering lower spreads, I don't really see how a broker could be better for me than what Hotspot offers. Well, charts would be nice.
I hope that helps.
  • #18
  • Jul 30, 2008 6:58am Jul 30, 2008 6:58am
I agree, its very reliable and execution is nearly instant. I never had a disconnect once. On the bad side, factoring in spreads and commissions, Oanda is still a bit cheaper. On the other hand i had problems with oanda with disconnections and reversed trades (they did reverse the trades in a fair manner, but it is sitll annoying).

Hotspot also sucks at answering emails - its better to use the telephone.
  • #19
  • Jul 31, 2008 1:49am Jul 31, 2008 1:49am
Quoting shrike
I agree, its very reliable and execution is nearly instant. I never had a disconnect once. On the bad side, factoring in spreads and commissions, Oanda is still a bit cheaper. On the other hand i had problems with oanda with disconnections and reversed trades (they did reverse the trades in a fair manner, but it is sitll annoying).

Hotspot also sucks at answering emails - its better to use the telephone.
I agree with everything you said, except for Oanda being cheaper. I think that is true for EUR/USD and maybe some others, but some pairs are cheaper at Hotspot. If EUR/USD was the only thing I was trading, I probably would have stayed with Oanda, but otherwise, I think Hotspot is way better! =)
  • #20
  • Aug 19, 2008 6:17am Aug 19, 2008 6:17am
Are all of you trading standard 100k lots? Commissions are $3 no matter what size you do below 100k. very expensive if you do minis.
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