IB versus HotSpotFx

Discussion in 'Forex Brokers' started by JetFuel, Apr 27, 2005.

  1. JetFuel


    Does anyone have experience comparing these two brokers during periods of high volatility/ major events?

    Is there a discernable difference in slippage/ width of spreads?

    I am trying to decide between these two to open a new forex account based on everything I've read...

    Thanks for your help.
  2. 168


    i tried the hot spot demo on live market , the spread is not so tight , i tried the ib demo too , the spread is very tight , and also some member have shown the real spread page on et too , i think ib is better than the hot spot , beside , money deposite in ib is mors safer than other .
  3. taboni


    I don't think the Hotspot demo reflects their live rates. When I opened an account there they offered me a view of the live platform and the rates were very different than the demo. Why do you say the funds are much safer with IB?
  4. 168


    that is right , the live view on the platform , the spread is not very tight , i think ib and oanda is tighter . the fund is safer in ib is because the unused fund is protect by the sipc .
  5. Xenia


  6. On X-Trader, no kidding.

    That's huge.
  7. How can having funds with IB be safer than using Hotspot? Hotspot is merely an ECN so to use them you need a prime broker and RBS are the dominant player here. IB safer than RBS? Anyone who thinks that probably is of the belief (still) that Refco is safer than HSBC!
  8. hi mate - they've got a retail offering (HotSpotFXR) as well actually, whereby you open an acct with Hotspot direct... spreads can be slightly tighter than HotSpotFXi at times, but less liquidity usually... i talked to Rob Fleschler their head of sales, he says they don't bucket trades / shift prices on the retail platform, still the same ECN model...
  9. Customer funds at IB, denominated in any currency, are insured by SIPC and Lloyd's of London. We have all heard of SIPC. We have all heard of Lloyd's. The extent of this coverage is explained on IB's website.

    Customer funds at the HotSpotFX retail broker are insured by something called a Fidelity 14 bond. I never heard of a Fidelity 14 bond. The extent of this coverage is not clearly disclosed on the HotSpotFX retail website. The website says that this coverage is for certain types of fraud by broker employees or by external hackers, but nothing indicates that this coverage protects customers from bankruptcy of the broker.
  10. 50:1 at both firms. Check into the IB contributors; a few of the largest players, including BearFX. Seems like an easy choice w.r.t. product offerings and credit-risk.
    #10     Dec 6, 2005