FBS vs HotForex - Fees Review included
Which broker is better FBS or HotForex? Our expert assessment conducted according to TU’s own methodology showed that FBS is one of the top brokers in the financial market with the TU Overall Score of 8.98 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 | FBS | HotForex |
|---|---|---|
Overall |
4.3 |
4.6 |
4.6 |
4.5 |
|
3.9 |
4.4 |
|
4.1 |
4.6 |
|
Investment Instruments |
4.7 |
4.1 |
Platforms and Charting Tools |
4.5 |
4.9 |
Deposit and Withdrawal |
4.2 |
4.4 |
Research |
3.9 |
4.8 |
Education |
4.2 |
4.8 |
Support |
3.9 |
4.4 |
Bonuses |
5 |
4.2 |
|
|
|
FBS vs HotForex: Pros and Cons
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
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.
| FBS | HotForex | |
|---|---|---|
| Overall Pros | A large selection of trading instruments | favorable trading conditions and low spreads - from 0 pips |
| Copyt trading platform | controlled by several regulators | |
| $140 no-deposit bonus (not available for EU clients) | no commissions for account replenishment and bank transfers | |
| Crypto account | 1200+ supported assets | |
| 100% bonus | ||
| Advanced tools for money managment and analysis | ||
| Overall Cons | Hihg trading fees | Withdrawal terms do not always correspond to those indicated |
| Slow exacution speed |
FBS vs HotForex: Safety and Regulation
| Regulated By: | FBS | HotForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
Belize IFSC, license IFSC/000102/310, South Africa - FSCA |
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. |
FBS vs HotForex: Trading Conditions
| Trading Conditions | FBS | HotForex |
|---|---|---|
Minimum Deposit |
$1 |
$5 |
Trading Platforms |
MetaTrader 4, MetaTrader 5, FBS Trader |
MT4, MT5 HotForex FIX/API |
Max Leverage (Futures) |
401769 |
1-1000 |
Supported Markets |
Forex, CFDs on stocks, indices, metals, energies, crypto |
Forex, Stocks, ETFs, CFDs on commodities, indices, shares, crypto, metals |
Trading assets |
200+ |
1200+ |
Trading Accounts |
Standard, Cent, ECN, Micro, Zero Spread, Copy Trade |
Demo, Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFcopy, Islamic account |
Base Account Currencies |
EUR, USD |
EUR, USD |
FBS vs HotForex: Fees
Forex Trading Fees
| Fee | FBS | HotForex |
|---|---|---|
Standard Account EURUSD Average Spread |
0.8 pips |
1.3 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$6 per lot |
$3 per lot |
ECN Account EUR Average Spread |
0.2 pips |
0.1 pips |
CFD Trading Fees
| Fee | FBS | HotForex |
|---|---|---|
CFD Trading Fee |
US Shares - 0.7%, other markets - folating spread above the average |
Floating spread, Shares CFDs - 0.1% of trading volume |
Non-Trading Fees
| Fee | FBS | HotForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
1$ Visa, Neteller 2%, min - 1$, max - 30$ fee, Skrill - 1% + 0.32$, PerfectMoney - 0.5% |
No |
Inactivity Fee |
No |
$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.
FBS vs HotForex: Trading Assets
| Asset Name | FBS | HotForex |
|---|---|---|
Overall |
200+ |
1200+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
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 |
FBS or HotForex: Investment Programs
| Asset Name | FBS | HotForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
Bond CFDs |
Trading Platforms: HotForex or FBS
| FBS | HotForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FBSTrader |
HotForex FIX/API |
Others |
No |
No |
|
|
|
FBS vs HotForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FBS | HotForex |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
FBS vs HotForex: Research
| Research Type | FBS | HotForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FBS vs HotForex: Education
| Education Type | FBS | HotForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
HotForex vs FBS: Support
| Support Features | FBS | HotForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
FB Messenger |
No |
FBS vs HotForex: Forex Bonuses and Promo
| Promo | FBS | HotForex |
|---|---|---|
Forex Bonus |
$140 no deposit bonus, up to 100% deposit bonus (Bonuses are not available for EU and UK clients) |
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 |
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 |
By activating the option in the personal account, a trader can receive a cashback of up to $15 per lot |
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 FBS
-
Comment
Verifying an account on FBS is fast and easy if you have the recommended documents. This includes a government passport or ID issued the authorities. Make sure you upload both the front and back side of it then enter your accurate date of birth used on your official documents. Mine took time because my documents seem a bit old and some parts are no longer clear. I have to get another document to complete the verification. I would have saved myself the stress and trying over again with the verification process if i tried the first time with the updated documents that has an identifiable images of me.
-
Comment
FBS leverage is one of the features traders with low deposits can use to open larger positions but it is important to use them with caution. I needed to understand how leverage works and a demo account is ideal for this to avoid losing my funds. The FBS demo account is a useful tool which i am using to learn how to trade with leverages which is what i really want to fully understand how to use before trade again in my real account. Opening a demo account on FBS is a straightforward process just that you must sign up on the platform to access the personal area where you can get the options to open a demo account starting with an initial balance of $20000. Leverage is up to 1:3000. Guy, my parctical advise. Please, don’t exceed leverage of more than 1 to 10/ Yes, you will need a higher minimum deposit, but trading with higher leverage is crazy.
-
Comment
Opening an account on FBS is simple. The first step required me to enter my details but I have the option to sign up using my Gmail address. The next step demanded I select a trading platform, account currency and leverage, when I completed the process I realized I had a standard account opened for me. From the personal area I went ahead to open a demo account which was what I needed at the moment to practice. Opening a demo account is quite easy, from the personal area, you can click on add account, select the trading platform, account currency and initial balance. You can download the trading platform app or trade with FBS mt4 webtrader terminal. The web trader terminal interface is friendly and features simple trad
-
Comment
I like this company. I almost doubled my deposit in six months. This is a very good result for me. But the most important thing is that FBS withdraws money without any problems. That is, the company fulfills all agreements with a client. Therefore, I believe that FBS can be trusted.
-
Comment
For me, FBS was one of the first brokers I started trading with; earlier, they used to advertise more online. They had contests, and I even won one of them. Overall, I traded with FBS for a couple of years, and everything suited me. They had a separate blog with analytics, where there were some good materials. Now, many things are no longer available, although the broker continues to operate in the Forex market.
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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.