Deriv vs HotForex - Fees Review included
Which broker is better Deriv or HotForex? Our expert assessment conducted according to TU’s own methodology showed that Deriv is one of the top brokers in the financial market with the TU Overall Score of 8.42 out of 10. HotForex is one of the top brokers in the financial market with the TU Overall Score of 7.46 out of 10. Find out more about TU Overall Score.
| Feature | Deriv | HotForex |
|---|---|---|
Overall |
1.5 |
4.6 |
1.5 |
4.5 |
|
1.7 |
4.4 |
|
1.6 |
4.6 |
|
Investment Instruments |
1.8 |
4.1 |
Platforms and Charting Tools |
1.4 |
4.9 |
Deposit and Withdrawal |
1.8 |
4.4 |
Research |
1.4 |
4.8 |
Education |
1.3 |
4.8 |
Support |
1.2 |
4.4 |
Bonuses |
1.3 |
4.2 |
|
|
|
Deriv vs HotForex: Pros and Cons
Deriv is a brokerage company that started its activities in 1999. Deriv's mission is to make trading accessible. For this reason, the company has low minimum deposit requirements, but high-quality working conditions. DTrader is one of the broker's several proprietary trading platforms. Two others are DBot and DMT5. Deriv offers its clients to trade Forex assets, stocks, indices (including synthetic ones), CFDs, commodities, and options. Deriv is an international broker licensed and regulated by the following bodies: UK Financial Conduct Authority (FCA), Vanuatu Financial Services Commission (VFSC), Malta and Labuan Financial Services Authority (MFSA and Labuan FSA). The rights of traders are guarded by the Financial Commission, of which Derive is also a member.
HotForex (HotForex.com) is a broker owned by the HF Markets Group, offers a wide variety of account types, and has the widest selection of trading assets and high-quality software. HotForex also has favorable trading conditions and instant execution of orders. Plus, a solid list of tools and services allow everyone to choose the best option. The broker's reliability is confirmed by the license of several regulators. The company's work experience in the financial, brokerage and other services market is over 10 years. Within that time, Hot FX has received 35 prestigious awards. For trading, MetaTrader 4 and MetaTrader 5 trading terminals are used.
| Deriv | HotForex | |
|---|---|---|
| Overall Pros | Low level of the minimum deposit. | favorable trading conditions and low spreads - from 0 pips |
| A wide range of payment agents for replenishment of the deposit and withdrawal of earned funds. | controlled by several regulators | |
| Availability of trading instruments of different groups: currency pairs, stocks, indices, metals, etc. | no commissions for account replenishment and bank transfers | |
| Broker regulation by several authorities from different countries. | 1200+ supported assets | |
| Round-the-clock client support. | 100% bonus | |
| Choice of three convenient trading platforms. | Advanced tools for money managment and analysis | |
| No commission for maintaining a trading account and using its platforms. | ||
| Overall Cons | The tutorials provided on the site may not be enough for novice traders. | Withdrawal terms do not always correspond to those indicated |
| Deriv has only a few ways to contact support. | ||
| The broker does not serve clients from several countries, such as the USA, Canada, Malaysia, Israel, and others. |
Deriv vs HotForex: Safety and Regulation
| Regulated By: | Deriv | HotForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
VFSC, MFSA and Labuan FSA |
Financial Sector Conduct Authority (South Africa) (licence number 46632); Dubai Financial Services Authority (DFSA) under licence number F004885; Registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015, ; Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015. |
Deriv vs HotForex: Trading Conditions
| Trading Conditions | Deriv | HotForex |
|---|---|---|
Minimum Deposit |
$10 |
$5 |
Trading Platforms |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
MT4, MT5 HotForex FIX/API |
Max Leverage (Futures) |
1-1000 |
1-1000 |
Supported Markets |
Currency pairs, cryptocurrencies, CFDs, indices, stocks, synthetic indices, commodities |
Forex, Stocks, ETFs, CFDs on commodities, indices, shares, crypto, metals |
Trading assets |
218+ |
1200+ |
Trading Accounts |
Real account, demo account |
Demo, Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFcopy, Islamic account |
Base Account Currencies |
Deriv MT5, Deriv X, DTrader, SmartTrader, DBot |
EUR, USD |
Deriv vs HotForex: Fees
Forex Trading Fees
| Fee | Deriv | HotForex |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
1.3 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
$3 per lot |
ECN Account EUR Average Spread |
Not supported |
0.1 pips |
CFD Trading Fees
| Fee | Deriv | HotForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, Shares CFDs - 0.1% of trading volume |
Non-Trading Fees
| Fee | Deriv | HotForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$25 charged every six months of inactivity |
$5 per month after 6 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Deriv vs HotForex: Trading Assets
| Asset Name | Deriv | HotForex |
|---|---|---|
Overall |
218+ |
1200+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
Yes |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Deriv or HotForex: Investment Programs
| Asset Name | Deriv | HotForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
Bond CFDs |
Trading Platforms: HotForex or Deriv
| Deriv | HotForex | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
DTrader |
HotForex FIX/API |
Others |
SmartTrader |
No |
|
|
|
Deriv vs HotForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Deriv | HotForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
Deriv vs HotForex: Research
| Research Type | Deriv | HotForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Deriv vs HotForex: Education
| Education Type | Deriv | HotForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
HotForex vs Deriv: Support
| Support Features | Deriv | HotForex |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Deriv vs HotForex: Forex Bonuses and Promo
| Promo | Deriv | HotForex |
|---|---|---|
Forex Bonus |
No |
Super Charged bonus. Daily discounts of USD 2 per lot for deposits from USD 250. The maximum payout is $8,000. The calculation is made automatically, after which the funds can be withdrawn by the client or used for trading on the market. Credit bonus Provides an increase in leverage for a certain trading volume. |
Affiliate Program |
Deriv’s affiliate program is presented in three types: a trader can (i) receive additional earnings for the monthly income of his referees, (ii) for the probability of payments on options, as well as (iii) for inviting new users to the Deriv broker. |
Affiliate Partners and Introducing Brokers (IB) program. The program is available to organizations and individuals around the world. It provides for making a profit in the form of a reward for attracting new customers to the broker. Under the terms of cooperation, the company provides support by assigning a manager to each introduced broker. Also, the broker can assist in performing calculations, provide the necessary software and guarantee a high level of service. Regional representatives are an option for pros who can help promote the company at the regional level and take on the responsibilities of managing an office in the region, providing brokerage services on behalf of HotForex. White Label is a program that will be especially interesting for financial institutions and consulting firms. It makes it possible to provide services under its own brand and get individual partnership conditions. |
Other Promos |
no |
|
|
|
|
Top 5 Reviews on HotForex
-
Comment
A drawback when trading with HotForex is the inability to deposit funds in cryptocurrency. Here, payments are mainly accepted via bank card or bank transfer. This means that the number of payment systems in HotForex is limited. There are also occasional issues during trading. For example, there was recently an order closure at a non-market quote resulting in a loss. However, after contacting HotForex's support service, the transaction was canceled within 15 days.
-
Comment
The account with HotForex was opened a year ago, but I only started trading here two months ago. Initially, the broker didn't attract much interest, but recently some new features have been introduced, including a bonus system. Well, let's give it a try and see. I deposited $500 into my HotForex account and will be trading with minimum volumes for now.
-
Comment
HotForex provides excellent trading conditions, allowing the use of various strategies, including those that require a low spread – which, by the way, is minimal and equals zero. From a technical standpoint, everything works stably and without unpleasant surprises. However, despite many positive aspects, one significant drawback should be noted – frequent delays in withdrawals. Payouts do not always occur on time, which is a serious disadvantage and affects HotForex's rating.
-
Comment
In my opinion, HFM broker deserves attention from traders. They have been on the market for a long time and are considered a serious company that provides reliability and investment protection. I don't have to worry about my funds because I'm confident the broker won't deceive me. They also do not interfere with trading and provide reliable quotes with fast execution. I recommend HFM broker.
-
Comment
hotforex offers normal conditions. Problems occur in the form of non-market quotes when trades are canceled. But I must note that hotforex cancels not only profitable trades, but also unprofitable ones. And all losses are returned to the account. So I can say that the broker conscientiously fulfills its obligations to traders.
Top 5 Reviews on Deriv
-
Comment
I think Deriv is not the worst broker out there. They focus on futures contracts in the form of options and derivatives. The platform is quite different from what we're used to, but you get used to it over time. Order processing is fast, and I haven't noticed any major issues with the platform. Overall, Deriv offers decent conditions.
-
Comment
I'm still learning how the deriv platform works. The reviews are mostly positive, but I don't want to get into a difficult situation. I'm trading on demo for now. Moreover, I’m still new to trading, I’m just trying to learn. Deriv's technical support is good, they answer my questions professionally.
-
Comment
I learned about Deriv three years ago. The first impression was not very good, but then I started trading with this company. Now, I think that this is a really good broker. Opening trades is very easy, there are no price manipulations, and profitability is high. So I recommend this broker!
-
Comment
If you want to start trading Forex, Deriv is the broker where you should do it. Deposits and withdrawals are fast, you trade on the interbank market, and there are educational materials. Try it, choose a normal company like this one and make money. I haven’t traded with large amounts, because I’m not entirely confident in myself yet.
-
Comment
Deriv is a good company. I’ve been trading here for 4 months now, and I have no complaints about performance and operation of the platform. User account is convenient. I strongly recommend it.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.