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How long is a piece of string?

HotspotFXR doesn't offer "If Done" orders, but I think I heard that they were planning on adding these. Hotspot Institutional is execution only (market orders) and you can't leave any kind of s/l, or If Done order.

The commission is just built in. Actually its pretty expensive commission when you compare to IB or Hotspot retail.

I guess so. I know I wouldn't even look at a trade less than 1 mio when I was trading interbank. I see they are still taking the old mentality that retail traders should consider themselves lucky to get get even a 3 pip spread in EUR. And 4 pips in JPY?? Not for me.

Shame I would have expected to see their Autobahn platform scaled down for retail use. Spreads are too wide. Is it just me or does it look like suspiciously like FXCM's front end. Did they license it to DB??

Joerg you are saying that the trades were done on Wednesday but weren't broken until Friday?? This doesn't make alot of sense to me. I would have thought this sort of thing would occur immediately or at least within a couple of minutes of the bad trades going through, not 2 days later and...

Thanks for the info Joerg. 2 pips is quite good in the time you are looking at. I normally don't trade after London close.

Joerg if you are interested in EUR/CHF or moreso GBP products you really should look at Hotspot since they charge $3 per 100K UNITS not USD like IB. Makes a big difference when trading EUR and GBP (of course works against you when trading AUD)

Can you explain to me how it is that with no deal desk clients can trade in as little as 10,000 units at a time? As an ex bank dealer I know full well that no bank wants that kind of crap on their books.

Haven't seen MB trading. Hotspot is between 10-20 million on majors, and 3-15 million on others. I believe IB is around the same.

Hotspot allows you to split crosses into the legs. Check with them about the api though since I think they have a pretty hefty minimum monthly target volumewise that has to be met for its use.

I haven't heard anything from them but I do know that their sale just was completed to Knight Capital which may have something to do with it. Also Hotspot's retail division is still registered with no problem according to the NFA...

Not sure about FXCM but I know that Hotspot was bought by Knight Capital several months ago and the deal was finalized a couple of days ago. Could be something to do with that. They will still operate under the Hotspot name but as a wholly owned subsidiary of Knight Capital...

The one quote that gets me in his argument is "profitable traders" If one becomes a "profitable trader" by exploiting technological and human pricing errors, then they cheapen the efforts of those of us who have made a good living doing this business for a number of years.

Traded a little bit in NY in the mid-late 80's and then London throughout the 90's. Good luck to you! I know I should respond to Inquirer's last comments (if I could figure them out) but I am getting tired of this argument.:)

There should be required reading:) Unfortunately none exists and perhaps it is up to forums such as these to educate the great unwashed.

There is a difference in terminology I fear with respect to what I call "orders" An order is a limit, s/l or oco that you are leaving with the provider to watch for you GTC. This differs from those "orders" that ECN models allow you to place (bids and offers) directly on the platform, inside...

LonEagle, as a professional market participant for 16 of my 20 years in this business I couldn't agree with you more. Inquirer, I am just going to clarify a couple of things. If I as a bank trader post a bad rate on EBS (say market is 81-83 and I post a 95 bid in error in a calm market) I...

To begin, I really don't turn over the sort of amount necessary to access the lowest PB fees on offer, so going through a secondary PB doesn't make it worth my time to explore. Second I would really only be using the PB to access the Hotspot Institutional platform, and since their retail pricing...

First to answer a previous question, it doesn't so much matter that you can set up a $2 company, the fact is that when applying for a prime brokerage agreement with a bank, you are going to have to provide financials, open your books, show assets, etc for their credit department to decide to...