FXTM vs HotForex - Fees Review included
Which broker is better FXTM or HotForex? Our expert assessment conducted according to TU’s own methodology showed that FXTM is one of the top brokers in the financial market with the TU Overall Score of 6.77 out of 10. HotForex is one of the top brokers in the financial market with the TU Overall Score of 7.09 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | HotForex |
|---|---|---|
Overall |
4.5 |
4.6 |
4.9 |
4.5 |
|
4.7 |
4.4 |
|
4.5 |
4.6 |
|
Investment Instruments |
4.2 |
4.1 |
Platforms and Charting Tools |
4.3 |
4.9 |
Deposit and Withdrawal |
4.6 |
4.4 |
Research |
4.5 |
4.8 |
Education |
4.6 |
4.8 |
Support |
4.4 |
4.4 |
Bonuses |
2.9 |
4.2 |
|
|
|
FXTM vs HotForex: Pros and Cons
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
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.
| FXTM | HotForex | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | favorable trading conditions and low spreads - from 0 pips |
| Stock baskets | controlled by several regulators | |
| 3 types of ECN accounts | no commissions for account replenishment and bank transfers | |
| Low fees and near zero spreads | 1200+ supported assets | |
| Well regulated forex broker | 100% bonus | |
| FXTM invest copy trading platform | Advanced tools for money managment and analysis | |
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | Withdrawal terms do not always correspond to those indicated |
FXTM vs HotForex: Safety and Regulation
| FXTM | HotForex | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
$1 million |
£85,000 €20,000 |
FCA UK Regulation |
Yes |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
No |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
Yes |
Yes |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
Yes |
FXTM vs HotForex: Trading Conditions
| Trading Conditions | FXTM | HotForex |
|---|---|---|
Minimum Deposit |
$50 |
$5 |
Trading Platforms |
MT4, MT5 |
MT4, MT5 HotForex FIX/API |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-1000 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, Stocks, ETFs, CFDs on commodities, indices, shares, crypto, metals |
Trading assets |
1000+ |
1200+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo, Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFcopy, Islamic account |
Base Account Currencies |
USD, EUR, GBP, NGN |
EUR, USD |
FXTM vs HotForex: Fees
| FXTM | HotForex | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
1,1 |
0,3 |
Standard acc. spread EUR/USD, max pips |
2,1 |
1,4 |
ECN Commission |
2,5 |
3 |
ECN Spread EUR/USD |
0,20 |
0,2 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
3-20 |
No |
Inactivity fee, $ |
5 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs HotForex: Trading Assets
| Asset Name | FXTM | HotForex |
|---|---|---|
Overall |
1000+ |
1200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
FXTM or HotForex: Investment Programs
| Asset Name | FXTM | HotForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
Bond CFDs |
Trading Platforms: HotForex or FXTM
| FXTM | HotForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
HotForex FIX/API |
Others |
No |
No |
|
|
|
FXTM vs HotForex: Deposit and Withdrawal Methods
| FXTM | HotForex | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
Yes |
Yes |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
FXTM vs HotForex: Research
| Research Type | FXTM | HotForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FXTM vs HotForex: Education
| Education Type | FXTM | HotForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
HotForex vs FXTM: Support
| Support Features | FXTM | HotForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs HotForex: Forex Bonuses and Promo
| Promo | FXTM | HotForex |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
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 |
Refer a friend. For each new invited client, the partner receives $50 |
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
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.
-
Comment
HFM broker is claimed to have a high degree of security - it is regulated by FCA, DFSA, FSCA, FSA and CMA, which ensures compliance with international requirements. Leverage reaches 1:2000, which will suit both aggressive traders and those who work on lower volumes. However, actual withdrawals may take longer than promised and support does not work on weekends. The broker also offers PAMM accounts and hedging strategies, but the choice of electronic payment systems for depositing is limited.
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
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.