Commissions of Interactive Brokers 15 replies
anyone recommend a USA broker with low swap and commissions 6 replies
Looking for broker with lowest spreads and no commissions 9 replies
Broker commissions/premiums 19 replies
Broker with hands down tightest spread/commissions 7 replies
DislikedIm trading with Hotspot europe. Its quite good, but after factoring in the commissions($30) its about the same as Oanda (some pairs a bit cheaper on average, some a bit more expensive, i.e. Eur/Usd). The only reason i switched is that i had often disconnections/connectivity problems at Oanda. Not so with Hotspot, i never had a single disconnect ever with them. Stability and reliability is my main concern, everyone who ever was in a position during a platform outage probably can understand. Executions are very fast and accurate.
The only thing i miss are the competitive rolls and interest on funds at oanda.
Spreads can be hughe during news releases (even bigger than at oanda), but settle down within 30 seconds or so.
Customer support via email is lacking, some of my mails were not even answered, so if you need something quick, its better to use the phone.
Im also under the impression, that pairs with a bit bigger spread like Gbp/Jpy are quoted way tighter on demo, on live its more like 3-4 on average.
I guess overall they are one of the better choices a retail trader can make.
What API are you using? The Java api or their new C++ dll?Ignored
DislikedThe minimum is 2.50 $ for every trade.
To calculate the price of a transaction you multiply your lot size by 0.0001.(value of a point) Then you multiply by the commission multiplier depedning on how much trade per month.
For exemple if you trade less than 1 million per month.
Your trade is 100 000
100 000 x 0.0001= 10
10 x 0.2 = 2 $
The minimum is 2.50 $ so you would pay 2.50 $.
If I misunderstand their commission system please let me know.Ignored
Disliked~$40 for 1mio. GBP/USD. $20 per USD $1mio traded.
The US division of HotSpotFX is the only ECN broker that I'm aware of that charges the same amount regardless of base currency ($30 per 1mio. bcu = ~$15 for 1mio. GBP/USD).Ignored
DislikedSo trading only GBP/USD, is HotSpot FX the cheapest ECN at ~$30 per million round trip ?Ignored
DislikedHotspot USA branch is cheaper with $30/mio. units flat, Hotspot Europe is not cheaper with $30/mio USD traded.
P.S. the downside with the US branch is that they offer USD accounts onlyIgnored
DislikedI've heard that HotSpot stops you from cancelling or ammending an order if its within 10 pips of the current price ?
If this is true, then I can't change or move my stop order if its within that range ?Ignored
DislikedIn their order manual they do say it might not be canceled or modified if you are less than 10 pips away from the market
"
Note:
Clients who have an active order and want to modify or cancel the active order:
If the market rate is close to the active order rate (1 to 10 points away),
the order modification or cancellation may not be accepted. If this occurs, your original order will still be active."Ignored