Recommended Forex Broker

Why Hotspot FX?

HotspotFX is a forex ECN (Electronic Communications Network) that routes your orders to the best available price from its partner banks and/or other traders. HotspotFX offers 1-3 pip spreads on the majors, instant execution, no dealing desk, one click dealing and an anonymous trading environment.

Broker, not a Market Maker

HotspotFX acts as a broker, matching up orders between buyers and sellers and charges a fee for the transaction ($3 per $100,000 traded). HotspotFX does not profit by taking the other side of clients orders.

Earn the Spread

Every trader on the platform has the option of being a market maker. Clients can enter in their own bids and offers into the platform either inside or outside the spread, and if their bid or offer is hit, they can either eliminate or earn the spread.

Free Charts & News

Every client receives free charting from FXTrek and a free subscription to Market News International, a live news feed.

Screenshots

Click on the image for a larger view

Click on the image for a larger view

Details

• Founded:
  • January 2001
• Regulated By:
  • US CFTC. Member of NFA #0351580
• Safety of Funds:
  • Insured with a Fidelity 14 Bond
• Trading Hours:
  • 24 hour trading from 6:00 PM EST Sunday - 4:30 PM EST Friday
• Execution:
  • ECN type model (Electronic Communication Network)
  • Average execution time is 17 hundredths of a second
  • Clients trade instantly on live, multibank prices (no requotes)
  • Unlike dealer platforms, Hotspot FX does not trade against client orders
  • Hotspot FX is not a market maker and does not run a trading desk
  • Individual prices are good for up to 10 million units of the base currency
  • Good for scalping
• Platform:
  • Clients have the ability to act as a market maker and earn the spread
  • Ability to trade inside the spread by entering your own bids and offers
  • Clients can see real-time display of all bids, offers and quantities on the platform
  • One click dealing
  • Free charts from FXTrek
  • Free news feed from Market News International
  • API available for automating trading systems
• Typical Spread on Majors:
  • 1-3 pips. Sometimes choice (no spread) on EUR/USD
• Margin:
  U.S. Dollar-based currency pairs and cross-currency pairs (except Polish zloty):
  • 2% of open position for accounts up to $100,000
  • 3% for accounts above $100,000
  • 4% of open position for USD/PLN (zloty) and the cross currency pair EUR/PLN (zloty). This 4% PLN margin requirement is maintained on all accounts
• Commissions:
  • $3 per 100,000 units of the base currency
• Currency Pairs:
  • (16) - EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, EUR/JPY, EUR/CHF, EUR/GBP, USD/PLN, EUR/PLN, AUD/JPY, GBP/JPY, EUR/SEK, CAD/JPY, CHF/JPY
• Minimum trade size:
  • 100,000 units of the base currency
• Minimum opening balance:
  • $7,500

• Free Demo Account - Sign up for a free demo account with instant access to your account. Note that the demo only reflects business being carried out on the demo. Stop and limit orders can only be entered on the live platform.
  
• Open Live Account - Please name GoForex.net as your referring broker on your account application. Thank you!

Disclaimer:

There are risks involved in trading Foreign Exchange. Trading is not appropriate for everyone. Hotspot FXR, LLC does not provide financial advice. Consumers should consider obtaining independent advice before making any financial decisions.