Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.
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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. |
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. |
Forex.com
9.2
/10
VISIT FOREX.COM
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. |
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About |
Hotforex is regulated by CySEC, MiFID, Investor Compensation Fund, GBOT, BaFin,FSC, FSA, and ACIIF. Hotforex has provided forex trading services since 2010. |
Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999. |
XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002. |
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Why choose them? |
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Headquarters | Limassol, Cyprus | London, UK | Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK | |
TRADING SERVICES OFFERED |
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Spot Forex | ||||
Forex (CFD) | ||||
CFD | ||||
Spread Betting | ||||
Social Trading | ||||
MARKETS & INSTRUMENTS | ||||
Forex (currency pairs) | 80 | 48 | ||
Commodities Offered | 12 | 21 | ||
Stocks Offered | 220 | 1606 | ||
Bitcoin | ||||
Majors | ||||
Indices | ||||
US Stocks | ||||
Penny stocks | ||||
Energies | ||||
Metals | ||||
Agriculturals | ||||
FTSE | ||||
Dow Jones | ||||
Dax | ||||
Nikkei | ||||
ETFs | ||||
IPO | ||||
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 |
See all instruments
79% of retail investor accounts lose money when trading CFDs with this provider. |
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PLATFORM & FEATURES |
See the platforms and features offered by each broker |
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Screenshot |
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MT4 | ||||
MT5 | ||||
MT4 Mac | ||||
WebTrader | ||||
Mirror Trader | ||||
ZuluTrade | ||||
Sirix | ||||
cTrader | ||||
PAMM | ||||
Custom Platforms | HotForex, Rapit Trader | FOREXTrader PRO | Xstation5 | |
APPS |
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iOS |
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Android |
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Windows |
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Available Languages |
Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Japanese, Malay, Polish, Portuguese, Russian, Spanish, Thai, and Bengali |
English, Chinese, and Arabic |
English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian. |
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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 |
See platform & features
79% of retail investor accounts lose money when trading CFDs with this provider. |
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ACCOUNT INFORMATION |
From micro accounts to ECN accounts, compare the accounts offered by Hotforex and Forex.com |
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Demo account | ||||
Mini account | ||||
Micro account | ||||
Standard account | ||||
ECN Account | ||||
Islamic account | ||||
Zero spread account | ||||
VIP account | ||||
Fixed spreads | ||||
Variable spreads | ||||
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 |
See account options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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TRADING CONDITIONS |
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Scalping | ||||
Hedging | ||||
Expert advisors (EAs) | ||||
Virtual private server | ||||
Direct market access | ||||
STP broker | ||||
Market maker | ||||
Min trade | Varies | Varies | 0.01 Lot | |
Max trade | Varies | 5 million | 100 Lot | |
Min deposit | $1 | $50 | $1 | |
RISK MANAGEMENT |
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Stop losses | ||||
Limit orders | ||||
One-click trading | ||||
Trailing stops | ||||
Price alerts | ||||
Signal trading | ||||
FUNDING METHODS |
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Credit card | ||||
Bank transfer | ||||
Standard account | ||||
Paypal | ||||
Neteller | ||||
Skrill | ||||
Payment processing time | 2-7 business days | Varies | Same day if requested before 1PM | |
Withdrawal processing time | 1-10 business days | 1-2 business days | Same day if requested before 1PM | |
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 |
See all funding options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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DETAILED INFO |
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Excluded countries | AT,BE,BG, HR,CY, CZ, DK,EE,FI,FR,DE,GR,HU,IT,LV,LT,LU,MT,NL,PO,PT,RO,SK,SI,ES,SE | AT,BE,BG, HR,CY, CZ, DK,EE,FI,FR,DE,GR,HU,IT,LV,LT,LU,MT,NL,PO,PT,RO,SK,SI,ES,SE | US,IN,PK,BD,IQ,IR,IL,AF,AU,CA | |
Contact email | Send Email | Send Email | Send Email | |
Phone number | 44-2033185978 | Yes | 44 2036953085 | |
Live Chat | ||||
Website | www.hotforex.com | http://www.forex.com | www.xtb.com | |
Spreads: | ||||
EUR/USD (Average: 0.7 pips) | Not offered | 1.0 pips | 0.1 pips | |
GBP/USD (Average: 1.1 pips) | Not offered | 0.9 pips | 0.1 pips | |
USD/JPY (Average: 1.1 pips) | Not offered | 1.1 pips | 0.1 pips | |
AUD/USD (Average: 0.8 pips) | Not offered | 1.2 pips | 0.2 pips | |
USD/CHF (Average: 2.3 pips) | Not offered | 1.1 pips | 0.2 pips | |
USD/CAD (Average: 2.9 pips) | Not offered | 0.9 pips | 0.3 pips | |
NZD/USD (Average: 3.6 pips) | Not offered | 2.3 pips | 0.3 pips | |
EUR/GBP (Average: 2.4 pips) | Not offered | 1.3 pips | 0.1 pips | |
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 |
View all spreads
79% of retail investor accounts lose money when trading CFDs with this provider. |
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FEES |
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Inactivity Fee | No | No | No | |
Commission | No | No | Yes | |
Deposit Fee | No | No | No | |
Withdrawal Fee | No | No | No | |
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 |
View All Fees
79% of retail investor accounts lose money when trading CFDs with this provider. |
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Featured In | Best Brokers For Expert AdvisorsBest 5 Digit BrokersBest Brokers With VPSBest Brokers For IndicesBest CySEC Regulated Brokers | Best Futures BrokersBest FTSE100 BrokersBest Dow Jones BrokersBest DAX BrokersBest FCA 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.hotforex.com. Last updated on 01/02/2021. |
All information collected from http://www.forex.com. Last updated on 01/02/2021. |
All information collected from www.xtb.com. Last updated on 01/02/2021. |
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Company |
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. |
FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday. |
XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances. |
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Popular comparisons |
Popular comparisons feat. Hotforex
Hotforex vs XM |
Popular comparisons feat. Forex.com
Forex.com vs Oanda |
Popular comparisons feat. XTB
XTB vs IG |
If you’re a trader looking for a broker that offers VIP accounts, Hotforex may be the better option. However, if you want a broker with ECN execution, Forex.com may be more appropriate.
You can determine a broker’s reliability & trustworthiness by looking at eight factors:
Based on these eight factors, we consider Forex.com to be the more reliable broker. We’ve broken down why below:
Hotforex is regulated by CySEC, while Forex.com is regulated by Financial Conduct Authority.
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.
Hotforex has been around for 11 years, while Forex.com have been around for 22 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 Hotforex and Forex.com 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 Hotforex or Forex.com 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.
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.
Hotforex is a privately owned company, while on the other hand Forex.com is still a publicly listed company.
Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.
Hotforex are based in Limassol, Cyprus, while Forex.com are based in London, UK .
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 Hotforex and Forex.com offer forex trading. Forex.com have a slightly larger variety of currency pairs with 80 pairs, compared to offered by Hotforex. Also, if you’re looking to trade cryptocurrencies, Hotforex 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, Hotforex may be a better fit as Forex.com does not offer commodity trading.
If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Hotforex and Forex.com offer this. Our alternative broker, XTB, also offers MT4 and MT5.
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. Hotforex, 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.
Hotforex does allow scalping and hedging. While Forex.com also allows scalping and hedging. You can trade with EAs (expert advisors) on both Hotforex and Forex.com.
In terms of risk management tools, Hotforex does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Forex.com doesn't offer this.
Hotforex also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.
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, Hotforex charges 0.10 points, while Forex.com charges 1.00 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, Forex.com is more reliable based on our criteria above. Forex.com has a wider range of instruments to trade. Forex.com offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.
Most 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.