Trading with HotspotFX platform
As you know all mt4 (and other web based) platforms and retail brokers are only bucketshops, that doesn´t mean that you are going to be always scammed by them, there are some honest retail brokers out there. But you can not be sure or relaxed trading with them.
That´s why I am testing some ECN brokers during these past months. ECN brokers charge you a little comission for your opened trades and the spreads are very low, it is very important to know that your trades are really entering in the Forex market, not in a software program inside the server (like retail brokers do).
I proved and liked very much efxgroup or mbtrading before (efxgroup is like mbtrading but more focussed to Forex only) but today I want to talk you about HotspotFX.
http://noponzi.com/hotspotfx.png
I began yesterday in a demo account with them. The platform is very easy to use and very fast opening or closing your trades. The comission is lower than efxgroup or mbtrading and the spreads are very low. I proved the Customer Service and it´s great. They answer you very fast and they also offer to guide you by phone if you have some doubts.
The minimum deposit to trade in HotspotFx is 7500 USD or equivalent in EUR, GBP, AUD, CHF and JPY. The demo accounts are down everyday from 21:30 GMT till 22:30 GMT and live accounts at 22:00 for 20 minutes. During that time they run the end of the day processes and also they apply roll over and reval rates to all the accounts.
What I saw when I began testing this platform yesterday is that the minimum lot is 0,1 (100K) and so if you deposit only 7500 USD the risk is very high. I contacted with the Customer Service and they fix this problem in the platform asking me for my account number. Now I see 10k, 100k… in the dashboard and so I can trade with 10K or 0,01 (1 pip is about $1, according to the pair).
It´s great because with a decent deposit you can trade with a good risk now and low comissions-spreads. Please do not trade with 100k and $7500. Think that if you want to risk only 2% of your funds in your opened trades then you can only risk about 15 pips!!, very bad. With 10K is about 150 pips: very good 
It´s easy and very fast to enter or close your positions, to add or change your SL (stop loss) or TP (Target price), even a trailing stop with 3 options. And I also see how some retail brokers don´t show the real prices to us 
You can also read in Trading Technologies website a good article about using HotspotFX:
“Connectivity to Hotspot FX provides X_TRADER users with direct access to the growing foreign exchange market. Now X_TRADER customers can use one screen to trade spot foreign exchange alongside contracts listed on the world’s major futures exchanges. There is strong demand among our customer base for forex products, and we expect many of our users will take advantage of this new connection,” said Harris Brumfield, TT’s CEO.”
As you know HotspotFX also offers HotspotFXi to institutionals, but both of them (HotspotFXr or HotspotFXi) offer the same transparency, anonimity and competitive multibank bid/offer spreads and liquidity. HotspotFx was founded in 2000 and they are a subsidiary of Knight Capital Group, Inc. They are also regulated by the FSA.
I will keep you updated about this great and reliable ECN Forex broker.
