HotSpot FX HotSpot FX Inc.

Win, Currencysecrets.com, 10/29/2009 ,

Hotspot fxr has it advantages and disadvantages.
If you try to trade between 20.00GMT and 02.00GMT, you will find their spread is an absolute shocker! sometimes more than 25pips. I have a video recording of their live platform and as soon as i find a site to post these, i will give you guys the link. imagine placing an entry order to buy, for example, eurusd for 1.4458 and the order was filled at 1.4469 and price never got to 1.4469 as evidence by the charting software they provided.
Trailing stops do not exist. If you close your trade as a market order and failed to cancel your stoploss/take profit orders, hotspot fxr platform willl execute these as market orders if price gets to those levels.

CurrencySecrets.com, 09/10/2009 ,

Hotspot FX PROS

Market Depth
Place limit orders inside the spread
Ability to split positions
Hotspot FX CONS

Cannot amend or cancel orders within 10 pips of the market price
US$7,500 opening balance required
Commission of US$6 round turn per 100k contract
No mini accounts
Highest leverage set at 50:1

Sad :(, 07/27/2009 ,

Just for info, i have my accounts here, best execution i know.
But yesterday recieved an email telling me that all hotspot accounts are going to be transfer by mid feb, to FXCM, because they are not interested in retail bussines anymore

shrike, forexfactory.com, 07/27/2009 ,

Demo spread differ from live trading spreads.
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.

San Bartolo, forexpeacearmy.com, 07/27/2009 ,

I have a live account with Hotspot.

In the beginning they filled my orders right on the money.
Lately, when I place a Stop Loss they will close it 10 Pips against me 70% of the time, the other 30% it will close 2 or 3 Pips against me. Trying to close a position it will always work against me 2 to 3 pips and one time 10 pips.

When I asked them about it they told me they have a 9 to 12 Pip margin to fill their orders.

Williss, 07/27/2009 ,

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!

Bogdan, Romania, 07/27/2009 ,

I closed my account with HotspotFX because their spread got very wide last year.

Example: June 2008: EUR/USD spread 0-1 / GBP/USD spread 1-2 / USD/JPY spread 0-1.
September 2008: EU spread 2-4 / GU spread 3-5 / UY spread 2-3.

I am a daily scalper and spread counts for me because I target 5-10 pips at most.

On the other side HotspotFX is one of the most professional brokers on the market. Sustained by very strong capital and excellent support system. It worth for the speed of execution, accuracy and no spikes or requotes.

Forexer, 07/27/2009 ,

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.

Ginger, 07/27/2009 ,

HotSpot FX has at least 14 banks that provide liquidity.

I manage accounts through hotspot.

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

fpres, 07/27/2009 ,

Great ECN broker, yes they allow scalping!

Eom, 07/27/2009 ,

HotSpot fx are an ECN broker, you can't go wrong with that.