Cboe FX (Hotspot FX LLC) is a brokerage company established in the United States in 2000. This operator is regulated by NFA, FCM, and CFTC. The company has offices in New York, Kansas City, San Francisco, Singapore, Ecuador, London, and Hong Kong. It works with both private traders and institutional investors. Hotspot FX received permission to provide brokerage services in the Forex market in 2001. A year later, this organization launched the first investment ECN-model.
Cboe FX (Hotspot FX LLC) broker is a business unit of Knight Capital Group, Inc., a financial and investment group of companies.
The broker provides for trading currency pairs, options, precious metals, and stock CFDs. The deals are executed on MetaTrader 4 – the current leader in the industry of trading platforms for the Forex market, and this is hardly surprising:
The most surprising point about Hotspot FX LLC is the size of a minimal deposit – it is quite large ($7500). Such a requirement may frighten inexperienced traders, and it also suggests that the broker’s targeted audience is Forex veterans and large-scale investors.
Another controversial moment about this brokerage firm is the size of leverage – it is just 1:50. You should also know that the broker charges commissions for most of its services, including order entry.
Clients of Hotspot FX can open accounts in dollars or Euro. Deposits and funds withdrawals are carried out through bank transfers, plastic cards, and WebMoney (an online payment system).
Traders can also enjoy automatic trading, while first-comers can harness their trading skills with a demo account for 60 days.
Cboe FX (Hotspot FX LLC) works on the ECN model. Moreover, the broker is the creator of the first of its kind institutional ECN model, known as ECN Hotspot FXi. The advantages of trading with Hotspot by the ECN technology are:
Hotspot FX broker is not meant for Forex beginners owing to a high level of minimum deposit, restricted leverage, and commissions taken for practically every service provided. Still, it is very popular with Forex professionals and big investors who have a good appetite for risks and ventures in the financial space