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Hotspot retail is a true ECN. Since you as a retail trader don't have credit with the banks quoting the rates, you are trading on Hotspot's credit. Hence, technically they are the counterparty to the trade. You see their name, and the bank sees their name. The same is true when you trade with...

That's what I meant. On the new Deutsche platform, you get a different spread for different amounts, all autoquoted. If you put in 20 mio you get 1 spread, if you put in 1 mio you get a different spread. I bet Barclays aren't autoquoting 5 pips for every amount. Enjoy your beer:)

I haven't seen Barcs system yet but I assume they are doing tiered pricing like Deutsche has just rolled out. Basically you get a different price depending on the amount you want. 100 mio is impressive, the most you can do on Deutsche is 20 I believe. Of course it is irrelevant to me since I...

Sorry Roberk my mistake

There are other ECN models besides IB out there offering comparable services.

What does "half decent" monthly volume consist of. Everyone will discount depending on what kind of volumes you are putting through. I currently trade about 12-15mio per day and I get a discount on my amount from Hotspot. I can't believe that Coes would cut their $70 posted price by more than...

Why do you say the HotspotFX retail platform is untradable? I have used them for a long time with excellent results. I have also used HotspotFXI and the retail platform is exactly the same as the Institutional platform albeit with less banks posting rates, but you have the ability to post stop...

Big corporate players and hedge funds deal directly with banks but remember they have credit lines with many different banks, so as the bank dealer you really don't fully know their position (they may be buying with one bank and closing the position with another).

With regard to exactly who is the other side of the trade, remember that you are using the broker's credit lines with his participating banks to execute the trades (I am talking about ECN models only). Therefore the broker technically must be the other side of the trade, even though you are...

I totally agree. Nobody needs more than 2% margin in my opinion, yet it is one of the main things people mention in the search for a broker.

I didn't know Citi offered such a small minimum account size for entry, but I can't see any of myriad posters on this board who are seeking a minimum of 1% margin be willing to deal on more than 6%.

They don't have 1/2 pip pricing on the retail side yet. I think its supposed to be coming in the first quarter upgrade to the platform. You can get 1 pip prices alot of the time though in EUR and JPY

Hotspot is 1-2 pips in EUR and 3 pips in GBP in London and NY (sometimes you will see 2 pips GBP, but most of the time it is 3) They are pretty much 1 pip in JPY about 75% of the time as well during those hours. I know their demo sucks but if you can get past it the live spreads are...

Hotspot minimum trade size is 100K, no minis. Minimum account opening is $7500

Hotspot Retail does not run a desk either. You are dealing on the banks prices and paying a commission just like on the HotspotFXi platform. The only difference is with the Institutional platform you are dealing with another bank in the name of your prime broker and on the Retail one you are...

I agree Oanda is great if you are interested in trading minis and microminis. Since my average trade size is between 500k-1mio it doesn't hold a great advantage. I think both IB and Hotspot pretty much charge the same fees, only Coes is higher as far as the ECN models go.

While I haven't worked in a Tier 1 bank in a while (actually traded for 4 of them over the span of my career) front running an order was never illegal. If you have a client who left you a limit order to buy say 200 mio EUR at 10 and you didn't bid 11 for at least 50 for your own pocket, you...

I can get 15 million done on a singe price instantaneously through Hotspot's retail platform but I think someone offers bigger size than that.

If I remember correctly back in 1986 or 87 USD/DM dropped something like 1100 pips one day (it was my second week trading in the bank). More recently was back in 1992 when the BOE stopped defending 2.77 in GBP/DM and GBP collapsed. That was an ugly one but I don't recall the exact amount of...

No I haven't been in a bank since 2002. While I do trade a bit, I would hardly call it a full time job now. I have been trading with Hotspot since I left the banking side and I find them to be very good, much like IB.