Question: Who are the Liquidity Providers on HotForex's MT4? Where the market price comes from?
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HotForex is providing banking through Barclays UK and BNP Paribas. (June, 2017)
Thus the market liquidity is believed to be provided by the above 2 global banks to HotForex MT4.
As HotForex is an online FX & CFD broker which strives to provide “STP(Straight Through Processing)” trading environment with Market Execution model, all clients’ orders will be executed by the above liquidity providers.