hotspot spreads

Discussion in 'Forex Brokers' started by The Gambler, May 10, 2006.

  1. I am on the demo retail hotspot fx and the spread for eur-usd is 2 I would say 90 % of the time. It goes to 1 for a very short time here and there, sometimes to 3. There is also a commission which adds basically the equivalent of 0.6 pips (round trip).

    So its as though the "spread" where 2.6 on eur/usd almost all the time. This seems very high for an ecn.

    On currenex the spreads seems to be 1 pip. Is the hotspot retail platform different from the professional platform...they claim it is not????
     
  2. PeteHS

    PeteHS

    The spreads on the retail platform are either exactly the same or very close (within 0.5 pip) to that on the institutional platform.

    If you are comparing to the Currenex platform, there are also commissions there (not sure what their current comms are)
    If you are accessing Currenex through a prime broker you also have to pay a prime brokerage fee.
     
  3. PeteHS, any plans for lower spreads in the near future?
     
  4. PeteHS

    PeteHS

    We are actually in the process of adding another liquidity providing bank to the platform. Any time you add more price makers into the mix you will increase the opportunity for tighter spreads.
     
  5. pcvix

    pcvix

    Peter:

    Any chance of adding more currency pairs in the near future?
     
  6. PeteHS

    PeteHS

    Yes we will also be adding NZD/USD, AUD/NZD and a couple of others. If there are any that you would like to see, suggestions are always welcome.
     
  7. ok, how about XAUUSD, XAGUSD?
     
  8. pcvix

    pcvix

    Peter:

    Higher credit interest rates for customer account balances will make Hotspot more attractive. At present, IB offers a better deal.

    As to currency pairs, how about NZD/JPY (which IB doesn't offer)? :)
     
  9. PeteHS

    PeteHS

    NZD/JPY is a possibility for our next release, but metals are still a ways off.