FxPro vs HotForex - Fees Review included
Which broker is better FxPro or HotForex? Our expert assessment conducted according to TU’s own methodology showed that FxPro is one of the top brokers in the financial market with the TU Overall Score of 8.74 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 | FxPro | HotForex |
|---|---|---|
Overall |
4.6 |
4.6 |
5 |
4.5 |
|
3.9 |
4.4 |
|
4.6 |
4.6 |
|
Investment Instruments |
4.9 |
4.1 |
Platforms and Charting Tools |
4.2 |
4.9 |
Deposit and Withdrawal |
4.5 |
4.4 |
Research |
4.7 |
4.8 |
Education |
4.6 |
4.8 |
Support |
4.5 |
4.4 |
Bonuses |
2.5 |
4.2 |
|
|
|
FxPro vs HotForex: Pros and Cons
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC (Cyprus), Bahamas SCB, FCA (UK), and South African FSCA. FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The company has stock indices, metals and energy resources at its disposal. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
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.
| FxPro | HotForex | |
|---|---|---|
| Overall Pros | Regulated in EU and Great Britain | favorable trading conditions and low spreads - from 0 pips |
| Big choice of ECN/STP accounts | controlled by several regulators | |
| insurance of client funds | no commissions for account replenishment and bank transfers | |
| Strong research and education | 1200+ supported assets | |
| PAMM and Copy-trading for investors | 100% bonus | |
| Personal offers for VIP-clients | Advanced tools for money managment and analysis | |
| Overall Cons | High spreads and fees | Withdrawal terms do not always correspond to those indicated |
| No forex bonuses |
FxPro vs HotForex: Safety and Regulation
| Regulated By: | FxPro | HotForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
FSCA (South Africa), SCB (Bahamas) |
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. |
FxPro vs HotForex: Trading Conditions
| Trading Conditions | FxPro | HotForex |
|---|---|---|
Minimum Deposit |
$100 |
$5 |
Trading Platforms |
MT4, MT5, MultiTerminal |
MT4, MT5 HotForex FIX/API |
Max Leverage (Futures) |
1:500 SCB regulation 1:30 (FCA, CySec regulation) |
1-1000 |
Supported Markets |
Forex, CFDs on indices cryptocurrencies, stocks, energy commodities |
Forex, Stocks, ETFs, CFDs on commodities, indices, shares, crypto, metals |
Trading assets |
3000+ |
1200+ |
Trading Accounts |
FxPro MT4 Instant (with fixed spreads), FxPro MT4 Instant (with floating spreads), FxPro MT4 Market, FxPro MT5, FxPro cTrader, VIP-account |
Demo, Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFcopy, Islamic account |
Base Account Currencies |
USD, EUR, PLN, GBP, AUD, CHF, JPY, ZAR |
EUR, USD |
FxPro vs HotForex: Fees
Forex Trading Fees
| Fee | FxPro | HotForex |
|---|---|---|
Standard Account EURUSD Average Spread |
2.4 pip |
1.3 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not offered |
$3 per lot |
ECN Account EUR Average Spread |
Not offered |
0.1 pips |
CFD Trading Fees
| Fee | FxPro | HotForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, Shares CFDs - 0.1% of trading volume |
Non-Trading Fees
| Fee | FxPro | HotForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$5 per month after 6 monthes without trades |
$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.
FxPro vs HotForex: Trading Assets
| Asset Name | FxPro | HotForex |
|---|---|---|
Overall |
3000+ trading assets |
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 |
FxPro or HotForex: Investment Programs
| Asset Name | FxPro | HotForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
Bond CFDs |
Trading Platforms: HotForex or FxPro
| FxPro | HotForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FxPro |
HotForex FIX/API |
Others |
No |
No |
|
|
|
FxPro vs HotForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FxPro | HotForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (Only Bahamas and South Africa regulated entities) |
Yes |
Crypto |
No |
No |
FxPro vs HotForex: Research
| Research Type | FxPro | HotForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FxPro vs HotForex: Education
| Education Type | FxPro | HotForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
HotForex vs FxPro: Support
| Support Features | FxPro | HotForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
FxPro vs HotForex: Forex Bonuses and Promo
| Promo | FxPro | HotForex |
|---|---|---|
Forex Bonus |
Not offered |
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 |
Up to $1.100 per client you introduce to FxPro |
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 FxPro
-
Comment
To become a successful forex trader, you must know the four trading sessions and best time to trade in the most busy session. Forex trading sessions are times when the forex market is open and closed in different regions. You have to learn about these sessions to know when each opens and closes before you open a position. Out of the four sessions, new york and London is the ones with the highest trading volume and the best sessions to trade in if you want to trade in a busy market. I use the FXxPro Global Stock Exchanges session times to know what session is open and to monitor when two sessions overlap especially the New York and London overlap which is the best time to trade as it is known to have the heaviest volume of trading and is best for trading opportunities. Personally, this is one of the simple but helpful tools for day traders on FxPro.
-
Comment
You can transfer from your Fxpro wallet to your trading wallet 24/7. I happen to be busy during the weekdays and only trade during the weekends, now i want to transfer funds between my FxPro Wallet and trading accounts during the weekend to trade. The first time i tried i had few open positions and it stalled but after closing the positions it was successful. So transferring funds between fxpro wallet and trading accounts during weekends is possible if the specific trading account you are transferring from does not have any open positions. You will not be able to move money from an open trade you had over the weekend to your wallet until the market reopens on Sunday at 22:00 UK time.
-
Comment
When you encounter any challenge with your trade, the best option is to contact the customer service agent if you don't have any senior trader you can get help from at the moment. At least the Fxpro customer service is fast, responsive, and made up of experts. Issues with verifications, deposit and withdrawals are best handled by the support team, especially those that have to do with delay in funding accounts. You can use the FAQ option to solve some recurring issues as you can find answers given to traders who had similar challenges earlier. In one of the occasions connecting to the customer support was not going through so i decided to check the FAQ section. My challenge has to do with transferring from my wallet to my trading account. I solved this with the answer from the FAQ section.
-
Comment
Great broker FxPro. It has decent trading tools and a wide range of assets. This is good because the opportunity to invest in multiple financial markets simultaneously is an advantage for any trader. FxPro has a fairly professional customer support service, helping to resolve various issues. I've traded here on two platforms, and they both work quickly.
-
Comment
You can entrust FxPro with your money. As far as I know, the company has established itself as a decent broker and it would be surprising when they engage in manipulation here. I have been trading with FxPro for many years and during all this time I haven’t noticed any manipulations or bucket shop methods.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!