how can hotspotfx pays this rate?

Discussion in 'Forex Brokers' started by spieler, Aug 28, 2007.

  1. spieler

    spieler

    http://www.hotspotfx.com/openacct/faq/

    2,25% interest per month based on 500K$ paid every month that's a huge actualised rate for cash money.

    Let's stop trading and just put the money with them?

    Of course there is the bankrupcy risk but they are a full subsidiary of knight.

    Where is the trick?
     
  2. Pippi436

    Pippi436

    Hughe? I get more in my bank account for EUR o/n money from the first cent onwards, and EUR rates are lower than USD. They are actually makeing money on those rates.
     
  3. spieler

    spieler

    it is 2,25% per month not per year...........
     
  4. Pippi436

    Pippi436

    It says it is payed monthly, not that this is a monthly rate.
    2.25% per month, 12 compounding-steps would result in a yield of about 34% p.a.

    Im sure they dont mean that:)
     
  5. spieler

    spieler

    Ok should be that.
    A friend of mine gave me the url saying he get them on the phone and that it was monthly %.

    I told him impossible but he insisted ......
     
  6. You think that is good, move to Oanda. They pay 4.925%.
     
  7. meatstick

    meatstick

    It is a per annum rate, and money market rate is 5.25% so you're losing money. You should find someone to pay about 5% at least.

    Don't be silly and think someone will pay you 34% per annum no risk LOL.
     
  8. itrader911

    itrader911 Guest

    wowiiii
     
  9. to me payme only 8.71 dollars in a month.... i have more than 20k all month:(
     
  10. itrader911

    itrader911 Guest

    its true I've seen better
     
    #10     Sep 22, 2007