FBS vs InstaForex vs HotForex - Fees Review included
| Feature | FBS | InstaForex | HotForex |
|---|---|---|---|
Overall |
4.3 |
4.5 |
4.6 |
4.6 |
4.5 |
4.5 |
|
3.9 |
3.5 |
4.4 |
|
4.1 |
4.6 |
4.6 |
|
Investment Instruments |
4.7 |
4.8 |
4.1 |
Platforms and Charting Tools |
4.5 |
4.4 |
4.9 |
Deposit and Withdrawal |
4.2 |
5 |
4.4 |
Research |
3.9 |
4.6 |
4.8 |
Education |
4.2 |
4.8 |
4.8 |
Support |
3.9 |
4.7 |
4.4 |
Bonuses |
5 |
5 |
4.2 |
|
|
|
|
FBS vs InstaForex 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.
InstaForex is an international company that has been providing services in the Forex currency market since 2007. Today, more than 7 million traders worldwide use the services of this broker. InstaForex offers its clients access to 300 trading instruments, such as PAMM Investment and ForexCopy system to copy trading of successful traders. The company’s activity is regulated by the British Virgin Islands Financial Services Commission (FSC) in accordance with the Securities and Investment Business Act. InstaForex has a reputation for responsible and professional trading practices. In 2016, the company received the UK Forex Best Social Broker Award, in 2018 was named the Best Forex Platform for Trading Cryptocurrency, and in 2019 Best Asian Broker and the Best Eastern European broker.
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 | InstaForex | HotForex | |
|---|---|---|---|
| Overall Pros | A large selection of trading instruments | Regulated Forex Broker | favorable trading conditions and low spreads - from 0 pips |
| Copyt trading platform | 2500+ trading assets | controlled by several regulators | |
| $140 no-deposit bonus (not available for EU clients) | Individual online training | no commissions for account replenishment and bank transfers | |
| Crypto account | Advances news and analytitc platforms | 1200+ supported assets | |
| Free VPS service | 100% bonus | ||
| High exacution speed | Advanced tools for money managment and analysis | ||
| No deposit and withdrawal fees | |||
| Deposits in crypto | |||
| $1000 No deposit bonus (Only for international entety) | |||
| Overall Cons | Hihg trading fees | High spreads and trading fees | Withdrawal terms do not always correspond to those indicated |
| Slow exacution speed | Low exacution speed |
FBS vs InstaForex vs HotForex: Safety and Regulation
| Regulated By: | FBS | InstaForex | HotForex |
|---|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Tier-1 |
Investor protection |
€20,000 |
No |
No |
FCA UK Regulation |
No |
No |
No |
FINRA (U.S) |
No |
No |
No |
BaFin (Germany) |
No |
No |
No |
ASIC (Australia) |
No |
No |
No |
CFTC (U.S) |
No |
No |
No |
MAS |
No |
No |
No |
FSCA SA |
No |
No |
No |
BVI FSC |
No |
Yes |
Yes |
VFSC |
No |
No |
No |
FSA (Seychelles) |
No |
No |
No |
FBS vs InstaForex vs HotForex: Trading Conditions
| Trading Conditions | FBS | InstaForex | HotForex |
|---|---|---|---|
Minimum Deposit |
$1 |
$1 |
$5 |
Trading Platforms |
MetaTrader 4, MetaTrader 5, FBS Trader |
MT4, MT5, InstaForex MultiTerminal |
MT4, MT5 HotForex FIX/API |
Max Leverage (Futures) |
401769 |
1:1000, 1:30 (for EU clients) |
1-1000 |
Supported Markets |
Forex, CFDs on stocks, indices, metals, energies, crypto |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, Stocks, ETFs, CFDs on commodities, indices, shares, crypto, metals |
Trading assets |
200+ |
2500+ |
1200+ |
Trading Accounts |
Standard, Cent, ECN, Micro, Zero Spread, Copy Trade |
Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica for international entity, ECN, ECN PRO, ECN VIP - For EU entity. |
Demo, Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFcopy, Islamic account |
Base Account Currencies |
EUR, USD |
EUR, USD |
EUR, USD |
FBS vs InstaForex vs HotForex: Fees
| Fee | FBS | InstaForex | HotForex |
|---|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,7 |
3 |
3 |
Standard acc. spread EUR/USD, max pips |
1,3 |
7 |
7 |
ECN Commission |
3 |
3 |
|
ECN Spread EUR/USD |
0,2 |
0,2 |
|
Deposit fee, % |
No |
No |
No |
Withdrawal fee, % |
No |
0,5-2 |
0,5-2 |
Withdrawal fee, USD |
No |
20-100 |
20-100 |
Inactivity fee, $ |
No |
No |
No |
FBS vs InstaForex vs HotForex: Trading Assets
| Asset Name | FBS | InstaForex | HotForex |
|---|---|---|---|
Overall |
200+ |
2500+ |
1200+ |
Forex |
Yes |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Yes |
Bonds |
No |
No |
Yes (CFD) |
Mutual funds |
No |
No |
No |
Stock options |
No |
No |
No |
Futures Trading |
No |
No |
No |
Binary Options |
No |
No |
No |
FBS or InstaForex or HotForex: Investment Programs
| Asset Name | FBS | InstaForex | HotForex |
|---|---|---|---|
Copy Trading |
Yes |
Yes |
Yes |
MAM/PAMM |
Yes |
Yes |
No |
Managed Accounts |
No |
No |
No |
Other |
No |
No |
Bond CFDs |
Trading Platforms: FBS or InstaForex or HotForex
| FBS | InstaForex | HotForex | |
|---|---|---|---|
MT4 |
Yes |
Yes |
Yes |
MT5 |
Yes |
Yes |
Yes |
cTrader |
No |
No |
No |
Appropriate platform |
FBSTrader |
InstaForex |
HotForex FIX/API |
Others |
No |
No |
No |
|
|
|
|
FBS vs InstaForex vs HotForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FBS | InstaForex | HotForex |
|---|---|---|---|
Bank Wire |
Yes |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Yes |
Neteller |
Yes |
Yes |
Yes |
BTC |
No |
Yes |
Yes |
Wise |
No |
No |
No |
Payoneer |
No |
No |
No |
USDT |
No |
Yes |
Yes |
FBS vs InstaForex vs HotForex: Research
| Research Type | FBS | InstaForex | HotForex |
|---|---|---|---|
News Feed |
Yes |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Yes |
FBS vs InstaForex vs HotForex: Education
| Education Type | FBS | InstaForex | HotForex |
|---|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Yes |
Webinars |
Yes |
Yes |
Yes |
Articles |
Yes |
Yes |
Yes |
Videos |
Yes |
Yes |
Yes |
Cent account |
Yes |
Yes |
Yes |
FBS vs InstaForex vs HotForex: Support
| Support Features | FBS | InstaForex | HotForex |
|---|---|---|---|
Working Days |
24/5 |
24/5 |
24/5 |
Yes |
Yes |
Yes |
|
Phone |
Yes |
Yes |
yes |
Online chat |
Yes |
Yes |
Yes |
Other |
FB Messenger |
Messendgers |
No |
FBS vs InstaForex vs HotForex: Forex Bonuses and Promo
| Promo | FBS | InstaForex | HotForex |
|---|---|---|---|
Forex Bonus |
$140 no deposit bonus, up to 100% deposit bonus (Bonuses are not available for EU and UK clients) |
$1000 no deposit bonus |
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 |
Yes |
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 FBS
-
Comment
Broker FBS provides access to trading on more than 150 markets, including forex, indices, metals, and futures contracts. The minimum deposit is $5, making FBS accessible for beginner traders. Leverage goes up to 1:3000, and the minimum spread on major currency pairs starts from 0.7 pips. Trading platforms available include MetaTrader 4, MetaTrader 5, and FBS Trader, with a minimum trade size of 0.01 lots.
-
Comment
I've been working with FBS for over six months. Withdrawals to a card usually take up to 48 hours, and fees depend on the chosen method. On the Pro account, spreads start from 0.5 pips but can widen during news releases. The company is regulated by the IFSC — not the strictest regulator, but it's something.
-
Comment
I occasionally use copy trading from FBS. It’s convenient that you can start with just $1. However, when choosing a trader, it’s important to carefully analyze their statistics — not all of them trade consistently. On the plus side, there’s automation; on the downside, the search filters are limited.
-
Comment
I started working with FBS because of the wide variety of account types. The conditions vary: for example, the Cent account requires just a $1 minimum deposit, while the ECN account starts at $1000. Each account suits a different trading strategy. The key is to carefully review the spreads and commissions before opening an account.
-
Comment
I did not get the answer I was seeking or I might have read a different thing online, I really can’t say because when I contacted the FBS support team. After trying the live chat option to no avail, I decided to try the Telegram channel. Initially, it was supposed to be a bot but I got a message that an agent would join. When I asked for the accounts available and features and the ideal one for Forex I got a long message which I did not understand (I was expecting a list of accounts and their features). Later the agent said they only offer standard accounts.
Top 5 Reviews on InstaForex
-
Comment
InstaForex offers over 2,500 trading instruments, including InstaSpot and InstaFutures—for those looking for unconventional assets. Over years of working with them, I haven’t encountered any critical outages, but it’s important to note that some products, like OYS accounts, are only available with a minimum investment of $1,000. Support is available within the terminal and responds quickly, though it can be quiet during nighttime hours.
-
Comment
For the first time, I came across a non-standard instrument called InstaFutures with a broker. So far, I’ve tested it on a demo account using MT5. I chose the Insta.Standard account — the spread is floating, around 1.2 pips. The minimum trade size is 0.01 lots. The partnership program is straightforward — commissions are paid out regularly, with transparent terms, especially for CPL and CPA. However, withdrawals via crypto wallets aren’t always fast.
-
Comment
I’ve been using the option to invest through the OYS portfolio under CySEC. The minimum is from $2000, with allocations across crypto, stocks, and indices. So far, everything is transparent, and the fees are clear. Trading is available via WebTrader, MT4, and MT5, which is convenient. No issues with withdrawals or verification. However, the dealing delay in copy trading—up to 15 seconds—is something to keep in mind.
-
Comment
Instaforex offers two main registration options — under FSC or CySEC. This choice affects both leverage (up to 1:1000 vs. 1:30) and spreads. There’s also a wide range of account types, from demo and standard to ECN and VIP. Support responds quickly, especially with straightforward inquiries. However, this broker may not suit those looking for fixed-income investments — there are no passive investment tools available.
-
Comment
I prefer to deal with InstaForex. Their web trader platforms are awesome, and I can trade in browsers with many advanced functions, which has brought me $750 in profit so far. I am satisfied with InstaForexso far. I am happy to make profitable orders, so I will continue trading with InstaForex.
Top 5 Reviews on HotForex
-
Comment
HFM is interesting because it offers investment opportunities in addition to active trading. For example, PAMM accounts and an integrated copy trading platform make the broker more versatile. However, opening an account requires thorough verification with a large amount of documentation, especially under FCA regulation. It's also worth noting that spreads from 0 pips are not available on all account types and require higher deposits — starting from $100 on the PRO account.
-
Comment
HFM offers attractive trading conditions: spreads from 0.2 pips on EUR/USD, both market and instant order execution, and a wide range of instruments — from Forex to bonds and ETFs. The minimum order size is 0.01 lots. There’s support for mobile trading and an affiliate program. One downside is that withdrawals through systems like Skrill and Neteller are not supported, which limits flexibility for some traders. Nevertheless, the availability of a demo account and educational materials is a definite plus for beginners.
-
Comment
hfm stands out for its reliable trading environment with consistently low spreads on top pairs like eurusd and usdjpy making it cost friendly for active traders withdrawals are processed quickly and you can choose from several methods including local bank options credit cards and popular online wallets the platform is easy to navigate and offers good tools for analysis whether you are new or experienced in forex their trading conditions are stable with good leverage options and no major issues during high volatility sessions
-
Comment
I have been trading with hfm for more than one year and mainly trade gold and some major pairs like EUR, GBP, JPY etc. The spreads are quite competitive and execution is also fast. Sometimes i also put limit orders when i am usually away from the main screen so it works. I am quite satisfied with their services.
-
Comment
I've been using HFM for a few months now and honestly, it’s been pretty smooth. The app is easy to use and withdrawals are fast. I like that they have local deposit options too.
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.
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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.