This is an attempt to estimate the cost differences for investors between Hotspot retail and Oanda. Rollover Hotspot's daily rollover costs seem to be slightly lower. Two examples below: long 100,000 EUR/USD Hotspot daily forward point: 0.85 pip = USD 8.50 Oanda EUR bid: 2.35% USD ask: 5.00% daily swap = USD 9.08 (approx) long 100,000 GBP/USD Hotspot daily forward point: 0.29 pip = USD 2.90 Oanda GBP bid: 4.25% USD ask: 5.00% daily swap = USD 3.71 (approx) (Hotspot retail demo swap rates on April 21 are used.) Credit Interest on Margin Deposits Oanda wins, hands down. https://fx1.oanda.com/mod_perl/user/interestrates.pl http://www.hotspotfx.com/openacct/faq/ Spreads Comparable, with Hotspot's sometimes lower. Commissions Hotspot charges USD 3 per 100,000 base currency units, negotiable for larger volumes. Oanda does not charge commissions. There are, of course, other considerations due to the two companies' different nature as ECN and market maker respectively. I'd appreciate it if fellow ET members could confirm the accuracy of my Oanda daily rollover cost calculations in the above examples. Any feedback would be most welcome!