for which court? if i am a client in europe and the broker is in USA it costs me a great deal to go to trial in the US...
I've just speed read the client agreement. I think this all sounds like paranoia to me. I'd wager that the percentage of trades with Hotspot itself on the other side is miniscule. And don't claim that exchanges are cleaner. The CME even has its own market making operation GFX, which was set up purely to add liquidity when its FX contracts were almost completely stagnant. It's still going, which baffles me.
alex.samant for which court? if i am a client in europe and the broker is in USA it costs me a great deal to go to trial in the US... ######################### 1.That is calculated from broker ! This knew that expectance of compalint from international clients lower ... You must take court in state ,in which your broker based .... Author is Europha resident and was multiple time's by USA Court ,CFTC and SEC Dissadvantage of CFTC ,that multiple investigator's are female with feminizm in head's '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''' 2. Belov is example of deceptive statements of broker in Swiss FX is supervised as a Financial Intermediary according to Swiss regulation with regards to prevention of money laundering, and is audited by KPMG. Since the enforcement of the Federal law on prevention of money laundering of the 1st of April 1998 (LBA), Swiss regulatory authorities have considerably tightened financial controls of banks and financial intermediaries obliging the latter to be affiliated with and supervised by an accredited self-regulatory organization whose objective is to comply with the due diligence obligations with respect to the prevention of money laundering. Being affiliated with PolyReg (a self-regulated organization accredited by the Swiss Federal Dept of Finance), GFX is indirectly supervised by the Federal Department of Finance in Switzerland. http://www.forex.ch/regulation.htm ############################# Forex in Swiss is not regulated ! Not from EBK not from money laundering agency (author disscused that multiple time's with Swiss authority) But to make solid impression company stated ,that regulated from ... Money laundering agency ... Money laundering agency is responsible solely for money laundering !(in most of the case they are suspicios against retail operator's) They answered to author that for complaint against swiss forex broker ,which is not related to money laundering ,they are not responsible . EBK is alsov not responsible for FOREX
Don't forget that there are 2 Hotspot platforms, the retail and the institutional one. I have used Hotspot inst for a few years and perfectly happy with it, as one of a number of ECNs I have access to. When i opened it I read all sorts of stories on here how you can't pull orders within 5 minutes or stuff like that. I don't have a clue if this is the case on the retail platform but it certainly isnt true on the one I use. The worst feature in my view is that all orders are GTC - no fill or kill or timed orders possible.
MrAngry I've just speed read the client agreement. I think this all sounds like paranoia to me. I'd wager that the percentage of trades with Hotspot itself on the other side is miniscule. ############################ For court would decisive ,that with your signature accepted that company can trade against you and was full in knowledge of that ! Company stated ,that can reject any order any time for any reason ! You must accept that with your signature . In time of great volatility ,if you would with open great position ,that would enough ... And with your signature you accepted that ... company is free from responsibility !
If you consider your broker to be your 'enemy' then you're with the wrong broker, and probably in the wrong business! It also depends on what you mean by 'trade against you', most if not all marketmakers are on the other side of your trades, they or a subsidiary/affiliate are counterparty. Aside from that, why is it better to have 4 accounts of $1750 than 1 account of $7k, it doesn't make any sense. The life expectancy of a new trader's account may well be 45-60 days but that's rarely anything to do with the broker!
Dear Sir Sorry to inform you ,but you are worst with game theory or ... you are broker or payed from broker ... Best wish ... P.S. Author is multiple trader contest price money winner -in USA ,Germany win accepted from regulatiion authority Bafin ,SEC , USA Court &
Extracts from the HotSpot FX agreement: "Your Account will be opened and maintained by Hotspot FXi Europe Ltd. Orders from you in relation to foreign currency transactions will be routed to Hotspot FXi, LLC (a US domiciled affiliate of Hotspot FXi, Europe Ltd, regulated by the National Futures Association) for execution. Hotspot FXi Europe Ltd will be your counterparty to executed foreign currency transactions." "While Hotspot may act as the principal counterparty, it will work diligently to fill all of its Orders quickly at rates as closely related to actual than current interbank market rates as is reasonably practicable."
http://eu.hotspotfx.com/open-an-acc...ms-of-business/ please read ,as example p5.5 ...at its disretion refuse accept any order ... ########################## p5.8 ,p8.4,p8.5 and another*s Divide accounts ! No another way ,Sir If you would signature this agreement ,court would say that you was full in knowledge of fact that company ...at its discretion refuse accept any order ... and accepted this fact. As example in time of great volatility you accepted possibility that company give you not a chance to close great margined position refused accept order close all !
That's for FXi, I believe the OP is referring to their retail outfit, FXr. This is off of the FXr website: Hotspot FXr as Principal. Hotspot FXr does not operate a dealing desk nor does it trade against you. Rather, in our direct market access agency model, Hotspot FXr essentially acts as a ârisk less principalâ, instantaneously offsetting your trades and positions with market makers and other clients. Unless otherwise disclosed to you, the prices at which your trades are executed are the same prices that we receive in offsetting your trades. Hotspot FXr does not profit when you place a trade that loses money nor does Hotspot FXr lose money when you place a trade that makes money. Nonetheless, it is important to understand that Hotspot FXr acts as the counterparty to all foreign currency contracts executed through the Hotspot FXr System.