Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.
![]() |
![]() |
![]() |
||
---|---|---|---|---|
BrokerDNA™
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
eToro
8.7
/10
VISIT ETORO
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
Hotforex
8.6
/10
VISIT HOTFOREX
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
XTB
10
/10
VISIT XTB
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
|
About |
eToro is regulated by CySEC. eToro have provided Forex trading services since 2006. 71% of retail CFD accounts lose money |
Hotforex is regulated by CySEC, MiFID, Investor Compensation Fund, GBOT, BaFin,FSC, FSA, and ACIIF. Hotforex has provided forex trading services since 2010. |
XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002. |
|
Why choose them? |
|
|
|
|
Headquarters | Limassol, Cyprus | Limassol, Cyprus | Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK | |
TRADING SERVICES OFFERED |
||||
Spot Forex | ||||
Forex (CFD) | ||||
CFD | ||||
Spread Betting | ||||
Social Trading | ||||
MARKETS & INSTRUMENTS | ||||
Forex (currency pairs) | 47 | 48 | ||
Commodities Offered | 6 | 21 | ||
Stocks Offered | 957 | 1606 | ||
Bitcoin | ||||
Majors | ||||
Indices | ||||
US Stocks | ||||
Penny stocks | ||||
Energies | ||||
Metals | ||||
Agriculturals | ||||
FTSE | ||||
Dow Jones | ||||
Dax | ||||
Nikkei | ||||
ETFs | ||||
IPO | ||||
See all instruments
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
See all instruments
72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. |
See all instruments
79% of retail investor accounts lose money when trading CFDs with this provider. |
||
PLATFORM & FEATURES |
See the platforms and features offered by each broker |
|||
Screenshot |
![]() |
![]() |
![]() |
|
MT4 | ||||
MT5 | ||||
MT4 Mac | ||||
WebTrader | ||||
Mirror Trader | ||||
ZuluTrade | ||||
Sirix | ||||
cTrader | ||||
PAMM | ||||
Custom Platforms | CopyTrader | HotForex, Rapit Trader | Xstation5 | |
APPS |
||||
iOS |
||||
Android |
||||
Windows |
||||
Available Languages |
English, German, Spanish, French, and Italian |
Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Japanese, Malay, Polish, Portuguese, Russian, Spanish, Thai, and Bengali |
English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian. |
|
See platform & features
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
See platform & features
72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. |
See platform & features
79% of retail investor accounts lose money when trading CFDs with this provider. |
||
ACCOUNT INFORMATION |
From micro accounts to ECN accounts, compare the accounts offered by eToro and Hotforex |
|||
Demo account | ||||
Mini account | ||||
Micro account | ||||
Standard account | ||||
ECN Account | ||||
Islamic account | ||||
Zero spread account | ||||
VIP account | ||||
Fixed spreads | ||||
Variable spreads | ||||
See account options
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
See account options
72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. |
See account options
79% of retail investor accounts lose money when trading CFDs with this provider. |
||
TRADING CONDITIONS |
||||
Scalping | ||||
Hedging | ||||
Expert advisors (EAs) | ||||
Virtual private server | ||||
Direct market access | ||||
STP broker | ||||
Market maker | ||||
Min trade | $25 | Varies | 0.01 Lot | |
Max trade | 20% of equity | Varies | 100 Lot | |
Min deposit | $200 | $1 | $1 | |
RISK MANAGEMENT |
||||
Stop losses | ||||
Limit orders | ||||
One-click trading | ||||
Trailing stops | ||||
Price alerts | ||||
Signal trading | ||||
FUNDING METHODS |
||||
Credit card | ||||
Bank transfer | ||||
Standard account | ||||
Paypal | ||||
Neteller | ||||
Skrill | ||||
Payment processing time | Varies | 2-7 business days | Same day if requested before 1PM | |
Withdrawal processing time | Varies | 1-10 business days | Same day if requested before 1PM | |
See all funding options
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
See all funding options
72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. |
See all funding options
79% of retail investor accounts lose money when trading CFDs with this provider. |
||
DETAILED INFO |
||||
Excluded countries | U.S., CA, JP, SD, SY, KR | U.S., CA, JP, SD, SY, KR | US,IN,PK,BD,IQ,IR,IL,AF,AU,CA | |
Contact email | Send Email | Send Email | Send Email | |
Phone number | 44-866-350-0881 | 44-2033185978 | 44 2036953085 | |
Live Chat | ||||
Website | www.etoro.com | www.hotforex.com | www.xtb.com | |
Spreads: | ||||
EUR/USD (Average: 0.7 pips) | 3.0 pips | Not offered | 0.1 pips | |
GBP/USD (Average: 1.1 pips) | 4.0 pips | Not offered | 0.1 pips | |
USD/JPY (Average: 1.1 pips) | 2.0 pips | Not offered | 0.1 pips | |
AUD/USD (Average: 0.8 pips) | 1.0 pips | Not offered | 0.2 pips | |
USD/CHF (Average: 2.3 pips) | 3.0 pips | Not offered | 0.2 pips | |
USD/CAD (Average: 2.9 pips) | 3.0 pips | Not offered | 0.3 pips | |
NZD/USD (Average: 3.6 pips) | 5.0 pips | Not offered | 0.3 pips | |
EUR/GBP (Average: 2.4 pips) | 4.0 pips | Not offered | 0.1 pips | |
View all spreads
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
View all spreads
72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. |
View all spreads
79% of retail investor accounts lose money when trading CFDs with this provider. |
||
FEES |
||||
Inactivity Fee | Yes | No | No | |
Commission | No | No | Yes | |
Deposit Fee | No | No | No | |
Withdrawal Fee | Yes | No | No | |
View All Fees
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
View All Fees
72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. |
View All Fees
79% of retail investor accounts lose money when trading CFDs with this provider. |
||
Featured In | Best Social Trading BrokersBest Day Trading BrokersBest Bitcoin BrokersBest Ethereum BrokersBest Brokers For Commodities | Best Brokers For Expert AdvisorsBest 5 Digit BrokersBest Brokers With VPSBest Brokers For IndicesBest CySEC Regulated Brokers | Best Brokers That Accept PayPalBest Forex Islamic AccountsBest Litecoin BrokersBest Brokers For GoldBest Brokers For Copper | |
Last update |
All information collected from www.etoro.com. Last updated on 01/02/2021. |
All information collected from www.hotforex.com. Last updated on 01/02/2021. |
All information collected from www.xtb.com. Last updated on 01/02/2021. |
|
Company |
Founded in 2006 and based out of Tel-Aviv, eToro enables traders to follow various sectors including nearly two hundred and fifty different stocks. CFD and currency trades are likewise a possibility. As of this year, eToro boasts more than six million members worldwide. |
HotForex is a commonly used broker for many forex traders around the world. They provide a high level of service and are trusted by both retail investors and large institutional customers to trade Forex and CFD's online. |
XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances. |
|
Popular comparisons |
Popular comparisons feat. eToro
eToro vs Tradeo |
Popular comparisons feat. Hotforex
Hotforex vs XM |
Popular comparisons feat. XTB
XTB vs IG |
If you’re a trader looking for a broker that offers a wide variety of instruments to trade, eToro is likely the better option out of these brokers. However, if you want a broker that offers MetaTrader4 as a trading platform, Hotforex may be more suitable.
You can determine a broker’s reliability & trustworthiness by looking at eight factors:
Based on these eight factors, we consider eToro to be the more reliable broker. We’ve broken down why below:
eToro is regulated by Financial Conduct Authority, CySEC, ASIC, while Hotforex is regulated by CySEC.
XTB are also regulated by the Financial Conduct Authority.
If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).
This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.
eToro has been around for 15 years, while Hotforex have been around for 11 years. Our third alternative broker, XTB, have been around for 19 years.
You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?
Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.
All three brokers above will hold your money in a separate bank account.
Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.
Both eToro and Hotforex use tier one banks, but we are not sure of which bank specifically.
If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.
We’re not aware of any penalties or fines imposed by regulators on eToro or Hotforex in the past five years.
While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.
eToro is more popular with over 6,000,000 traders.
Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.
Both eToro and Hotforex are privately owned companies.
Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.
Both eToro and Hotforex are based in Limassol, Cyprus .
Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.
This can be broken down into three categories:
If you’re looking to trade currency pairs, both eToro and Hotforex offer forex trading. eToro have a slightly larger variety of currency pairs with 47 pairs, compared to offered by Hotforex. Also, if you’re looking to trade cryptocurrencies, eToro offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.
If you’re looking to trade commodities like gold, silver or oil, eToro may be a better fit as Hotforex does not offer commodity trading.
eToro also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.
eToro also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.
In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. eToro, for example, offer a mini account, standard account and VIP account.
If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.
While Hotforex also allows scalping and hedging. You can't trade with EAs (expert advisors) on eToro but you can trade EAs (expert advisors) with Hotforex.
In terms of risk management tools, eToro doesn't offer negative balance protection, but Hotforex does. Negative balance protection prevents you owing your broker more than you’ve deposited.
eToro also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.
eToro accept Paypal while Hotforex accept Neteller.
Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.
For trading EUR/USD, eToro charges 3.00 points, while Hotforex charges 0.10 points. Therefore, Hotforex is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.
Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, eToro is more reliable based on our criteria above. eToro has a wider range of instruments to trade. eToro offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.
Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:
Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.