image Hotforex VISIT HOTFOREX image FXPro VISIT FXPRO image IG VISIT IG
About

Hotforex is regulated by CySEC, MiFID, Investor Compensation Fund, GBOT, BaFin,FSC, FSA, and ACIIF. Hotforex has provided forex trading services since 2010.

FXPro is regulated by the Financial Conduct Authority, CySEC, FSB, DFSA and SCB. FXPro have provided Forex and spread betting services since 2006.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters Limassol, Cyprus London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No Yes Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 75 90
Commodities Offered 17 34
Stocks Offered 156 8000
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE No Yes Yes
Dow Jones No No Yes
Dax Yes Yes Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
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

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes No
MT4 Mac No Yes Yes
WebTrader Yes No Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No Yes No
PAMM No No No
Custom Platforms HotForex, Rapit Trader No ProRealTime & L2 Dealer

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes No
Available Languages

Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Japanese, Malay, Polish, Portuguese, Russian, Spanish, Thai, and Bengali

Arabic, Chinese, English, French, German, Hungarian, Romanian, Turkish, Czech, Slovak, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese

English, French, German, Spanish, and Portuguese

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

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Hotforex and FXPro

Demo account No No Yes
Mini account Yes Yes Yes
Micro account Yes Yes No
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes Yes No
Zero spread account Yes No No
VIP account Yes Yes Yes
Fixed spreads Yes Yes No
Variable spreads Yes Yes Yes
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

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes Yes
Direct market access Yes No Yes
STP broker Yes No Yes
Market maker Yes Yes No
Min trade Varies Varies £1
Max trade Varies Varies Variable
Min deposit $1 $1 $250

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No Yes Yes
Neteller Yes Yes No
Skrill No No No
Payment processing time 2-7 business days 3-5 business days Varies
Withdrawal processing time 1-10 business days 1 business day Varies
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

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US, IR US, IR BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number 44-2033185978 44 (0) 203 151 5550 44 20 7633 5300
Live Chat Yes Yes Yes
Website www.hotforex.com http://www.fxpro.co.uk/ http://www.ig.com/
Forex Spreads
EUR/USD 0.10 0.00 0.60
GBP/USD 2.50 1.80 0.90
USD/JPY 1.80 1.12 0.70
AUD/USD N/A 1 0.6
Cryptocurrency Spreads N/A 15 10
View all FX spreads

72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd.

View all FX spreads

79% of retail investor accounts lose money when trading CFDs with this provider

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 N/A N/A 1.0
Nasdaq 100 N/A N/A 1.0
Euro Stoxx 50 N/A N/A 1.5
ASX 200 1.0
S&P 500 N/A N/A 0.4
FTSE 100 N/A N/A 1.0
Google N/A 1 to 20
Facebook N/A 4 points per side
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

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee No No Yes
Commission No No Yes (0.1%)
Deposit Fee No Yes Varies
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

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

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Last update

All information collected from www.hotforex.com. Last updated on 01/06/2019.

All information collected from http://www.fxpro.co.uk/. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

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.

Hotforex provide a wide variety of customizable solutions in their trading platforms to perfectly suit a wide variety of traders. With their low spread offerings coupled with the ability to scalp and hedge, Hotfrex is widely regarded as a popular choice.

FXPro was founded in 2006 and offers CFDs on currency pairs and five other asset classes. They serve customers in over 150 countries and offer a wide range of instruments and platforms including both MT4 and MT5.

For more information about trading with FXPro, we have put together an indepth FXPro review with some of the pros and cons about this broker.

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

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Hotforex or FXPro?

Who is a wide range of instruments?

If you want a broker with a large range of instruments available to trade, FXPro may be more suitable. Hotforex and FXPro offer similar trading methods.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FXPro to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Hotforex is regulated by CySEC, while FXPro is regulated by Financial Conduct Authority, CySEC, FSB, DFSA and SCB.

As the Financial Conduct Authority are one of the most stringent regulators in the world, FXPro will have very strict guidelines to follow to ensure they protect their retail trader clients.

IG are also regulated by the Financial Conduct Authority.

How long have they been around for?

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 9 years, while FXPro have been around for 13 years. Our third alternative broker, IG, have been around for 45 years.

Do they hold your money in a separate bank account?

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.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

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 FXPro use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

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 FXPro in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

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 Hotforex and FXPro are privately owned companies.

Where are they located?

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 FXPro are based in London, UK.

Do they offer the features you need?

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:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Hotforex and FXPro offer forex trading. FXPro have a slightly larger variety of currency pairs with 75 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 FXPro does not offer commodity trading.

Platforms & Account Types

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 FXPro offer this. FXPro also offer the new & improved MT5 platform. Our alternative broker, IG, 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.

For Muslim traders, Hotforex offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

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 FXPro also allows scalping and hedging. You can trade with EAs (expert advisors) on both Hotforex and FXPro.

In terms of risk management tools, both brokers offer negative balance protection to prevent you owing your broker more than you’ve deposited.

Hotforex also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Hotforex accept Neteller while FXPro accept Paypal.

Are they affordable for what you need?

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 FXPro charges 0.00 points. Therefore, FXPro 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.

The Verdict: Hotforex or FXPro?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FXPro is more reliable based on our criteria above. FXPro has a wider range of instruments to trade. FXPro 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.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.