Clicky

HotSpot FX Review

Posted By Marcus Holland On Tuesday, April 16th, 2013 With 0 Comments

A Review of HotSpot FX

Introduction

HotSpot Fx is an ECN that operates a foreign exchange trade execution electronic platform for individuals and institutions using a non-dealing desk model of operation. Founded in 2000, HotSpot FX has expanded its operational base and now serves hedge funds, commodity trading advisors, trading firms, institutional asset managers, treasury managers, client banks and participating financial institutions. It has its headquarters in Jersey City, New Jersey, and it is regulated by the CFTC and NFA in the U.S., and FSA in the U.K.

Asset Index

The asset index on HotSpot FX is given below:

CURRENCY PAIR SPREAD (in pips)
AUD/CAD 0.1
AUD/CHF 0.1
AUD/HKD 0.1
AUD/JPY 0.1
AUD/JPY 0.1
AUD/NZD 0.1
AUD/USD 0.1
CAD/JPY 0.1
CHF/JPY 0.1
CHF/NOK 0.1
CHF/SEK 0.1
EUR/AUD 0.1
EUR/CAD 0.1
EUR/CHF 0.1
EUR/CZK 0.1
EUR/DKK 0.1
EUR/GBP 0.1
EUR/HKD 0.1
EUR/HUF 0.1
EUR/JPY 0.1
EUR/NOK 1
EUR/NZD 0.1
EUR/PLN 1
EUR/RUB 2.5
EUR/SEK 1
EUR/USD 0.1
EUR/ZAR 1
GBP/AUD 0.1
GBP/CAD 0.1
GBP/CHF 0.1
GBP/CZK 0.1
GBP/HUF 0.1
GBP/JPY 0.1
GBP/NOK 0.1
GBP/NZD 0.1
GBP/PLN 1
GBP/SEK 0.1
GBP/USD 0.1
HKD/JPY 0.1
NOK/SEK 1
NZD/JPY 0.1
NZD/USD 0.1
USD/CAD 0.1
USD/CHF 0.1
USD/CZK 0.1
USD/DKK 0.1
USD/HKD 0.1
USD/HUF 0.1
USD/JPY 0.1
USD/MXN 1
USD/NOK 1
USD/PLN 1
USD/RUB 2.5
USD/SEK 1
USD/SGD 0.1
USD/TRY 1
USD/ZAR 1
XAG/USD 1.0
XAU/USD 1.0
ZAR/JPY 1

Trading Platform

HotSpot FX offers its services to its clients through its proprietary software – the TradeView FXSM. This application allows clients to view the market by their preferred dealing quantities and trade using an algorithm that ensures implementation at the set weighted average price.

The trading platform shows along with live prices and associated quantities, the number of participating banks and clients who make up the bid and offer quantity at each price level. This in turn, provides benefits to traders over the prevalent best bid or offer display that is found on other foreign exchange platforms.

The platform also allows for instantaneous trade executions using either single of double click modes for quick trading, it offers deep liquidity, complete anonymity, tight spreads, over 60 currency pair. It is a true ECN with competitive pricing and depth of book transparency, an innovative technology that allows clients to trade spot gold and silver.

It has an extensive network of over 25 FX prime brokers, it offers a 24-hour client service, and it gives multiple means of access; including API, Hotspot FX GUI, and leading third party platform providers.

Deposits and Withdrawals

 

Deposits can be made on HotSpot FX through the following means of transaction:

a)      Bank Wire

b)      Checks.

Withdrawals on HotSpot Fx are made exclusively through bank wire transfers.

Minimum Deposit

The minimum deposit amount allowed on HotSpot FX is 1,000,000 USD. This is a reflection of its ECN status and this puts the sphere of its services squarely on the doorsteps of institutional level investors.

Minimum Withdrawal Limit

There is no minimum withdrawal amount.

Maximum Withdrawal Limit

There is no maximum withdrawal limit.

Customer Support

It is possible to reach the customer support desk on HotSpot FX using the following means:

a)         Main Office: 545 Washington Boulevard

Jersey City, New Jersey 07310

United States.

+1 212 209 1420

b)         24-hour Technical-Production Support: +1 201 356 1789 (From 5pm Sundays until 5pm Fridays, New York).

Email: prodsupport@hotspotfx.com

c)         Online Contact Form

d)         General and Sales Inquiries:

Americas: +1 212 209 1420

Europe: +44 (0) 20 7997 7800

Asia: +65 6538.1489

Share Button

Recent Posts

Pepperstone

June 9, 2020, Comments Off on Pepperstone

HYCM

February 11, 2020, Comments Off on HYCM

CoreSpreads

June 10, 2019, Comments Off on CoreSpreads