Hotspot FX - Forex Broker Review

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Hotspot FX was founded in 2000 and became a registered company providing trading services to US retails clients. It was the first firm to launch the institutional ECN along with a prime-broker base structure. In 2007, the company received regulatory approval from the FSA. This meant that they were able to provide direct service to customers in Europe and the UK.

What’s on offer?

Hotspot FX is an ECN broker, which enables clients to trade with a higher level of transparency and control over their executions.

As a client you will have the following features:

• Tight, streaming, competitive multi-bank bid/offer and spread
• The capability to enter bids and offers
• Direct access to liquid FX ECN model where all market participants are treated as being equal
• Variable spread depending on supply and demand
• A reasonable leverage of 1:33 to 1:50
• Ability to open an account using GBP, EUR, AUD, CHF, JPY equaling minimum deposit account in USD.

Pros:

• One of the best ECN brokers
• Instantaneous Trade Execution
• Provides liquidity to trade with the global banks and liquidity between other clients in the market place
• Provides with an advanced trading platform
• Trade executions are improved as they enable client to gauge liquidity at different prices
• It does not take positions against the clients

Cons:

• Trade station tends to be complicated to set up
• Opening an account with them can be pretty complicated
• No mini Forex accounts available.

It was the first broker out there to put forward the institutional ECN that is today the preferred platform of many retail traders because of their transparency in price and execution. It broker has received an avalanche of positive reviews around the net and as far as I am concerned it is a very reputable broker.

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