Is HotForex a new good STP broker to checkout?
A few weeks ago over at Donnas forum a thread discussing HotForex gained momentum. I didn’t think much of it at the time, there are so many brokers out there no one can keep up with all of them. And it is rare that they are anything worth thinking about either. Since then I’ve been checking the thread now and then and it seems people are pleased with their experiences. There are also very favorable reviews at Forex Peace Army, a site that usually is on the negative side (common human behavior to only report negative events of course).
The last thing that really spurred my interest was something I saw just today thou. They are now featured on CashBackForex and give 0.4 pips / lot back. I’ve asked how this applies to the Currenex account type at HotForex but still haven’t gotten an answer, hopefully it is valid regardless of account type (Update: Yes it was). The Currenex account is a ECN with $10 / lot traded ($5 per side) in commission, that with a rebate of 0.4 pips would be $6 / lot. The spreads and execution are supposed to be very good. Minimum deposit is $500 and minimum lot size is 0.1.
In order to get the rebate you have to register at CashBackForex.com of course and follow the instructions posted there. I’m thinking about checking it out.
