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. |
Swissquote
8.8
/10
VISIT SWISSQUOTE
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. |
AvaTrade
9.7
/10
VISIT AVATRADE
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. |
Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999. |
AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006. |
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Why choose them? |
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Headquarters | Limassol, Cyprus | Chemin de la Cretaux 33, 1196 Gland, Switzerland | Dublin, Ireland | |
TRADING SERVICES OFFERED |
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Spot Forex | ||||
Forex (CFD) | ||||
CFD | ||||
Spread Betting | ||||
Social Trading | ||||
MARKETS & INSTRUMENTS | ||||
Forex (currency pairs) | 138 | 59 | ||
Commodities Offered | 7 | 16 | ||
Stocks Offered | 0 | 99 | ||
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
Losses can exceed deposits |
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 | eTrading | AvaTradeAct, AVAOptions | |
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, German, French, Italian, Spanish, Arabic, Russian, and Chinese |
English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch |
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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
Losses can exceed deposits |
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 Swissquote |
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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
Losses can exceed deposits |
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 | Varies | None | |
Min deposit | $1 | 1,000 | $100 | |
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 | 1 business day | 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
Losses can exceed deposits |
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 | US,HK,BE,CA,FR,DZ,IR,SG,JP,TN,MA,TR,MT,UY | US,HK,BE,CA,FR,DZ,IR,SG,JP,TN,MA,TR,MT,UY | BE,BR,NZ,US,KE,IN,GH | |
Contact email | Send Email | Send Email | Send Email | |
Phone number | 44-2033185978 | 44 20 7186 2600 | (44) (0) 8005200423 | |
Live Chat | ||||
Website | www.hotforex.com | www.swissquote.eu | http://www.avatrade.com/ | |
Spreads: | ||||
EUR/USD (Average: 0.7 pips) | Not offered | 1.0 pips | 0.9 pips | |
GBP/USD (Average: 1.1 pips) | Not offered | 1.1 pips | 1.6 pips | |
USD/JPY (Average: 1.1 pips) | Not offered | 1.3 pips | 1.1 pips | |
AUD/USD (Average: 0.8 pips) | Not offered | 1.0 pips | 1.1 pips | |
USD/CHF (Average: 2.3 pips) | Not offered | 1.7 pips | 1.6 pips | |
USD/CAD (Average: 2.9 pips) | Not offered | 2.2 pips | 2.0 pips | |
NZD/USD (Average: 3.6 pips) | Not offered | 1.5 pips | 1.8 pips | |
EUR/GBP (Average: 2.4 pips) | Not offered | 1.3 pips | 1.5 pips | |
View all spreads
72.83% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. |
View all spreads
Losses can exceed deposits |
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 | No | |
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
Losses can exceed deposits |
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 Brokers For IndicesBest FTSE100 BrokersBest Dow Jones BrokersBest DAX BrokersBest FCA Regulated Brokers | Best MT4 BrokersBest Bitcoin BrokersBest Ethereum BrokersBest Ripple BrokersBest Litecoin Brokers | |
Last update |
All information collected from www.hotforex.com. Last updated on 01/01/2021. |
All information collected from www.swissquote.eu. Last updated on 01/01/2021. |
All information collected from http://www.avatrade.com/. Last updated on 01/01/2021. |
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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. |
Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more. |
Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins. |
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Popular comparisons |
Popular comparisons feat. Hotforex
Hotforex vs XM |
Popular comparisons feat. Swissquote
Swissquote vs Dukascopy |
Popular comparisons feat. AvaTrade
Avatrade vs LCG |
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 lower spreads on currency pairs like EUR/USD, Swissquote may be more appropriate.
You can determine a broker’s reliability & trustworthiness by looking at eight factors:
Based on these eight factors, we consider Hotforex and Swissquote to be equally reliable. We’ve broken down why below:
Hotforex is regulated by CySEC, while Swissquote is regulated by Financial Conduct Authority.
AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI
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 Swissquote have been around for 25 years. Our third alternative broker, AvaTrade, have been around for 15 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 Swissquote 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 Swissquote 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.
Swissquote is more popular with over 330,000 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 Hotforex and Swissquote are privately owned companies.
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 Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland .
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 Swissquote offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 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 Swissquote does not offer commodity trading.
Swissquote also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.
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 Swissquote offer this. Swissquote also offer the new & improved MT5 platform. Our alternative broker, AvaTrade, 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 Swissquote also allows scalping and hedging. You can trade with EAs (expert advisors) on both Hotforex and Swissquote.
In terms of risk management tools, Hotforex does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Swissquote 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 while Swissquote accept Payoneer.
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 Swissquote charges 0.80 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, Swissquote is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade. Swissquote 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.