XBTFX vs HotForex - Fees Review included
Which broker is better XBTFX or HotForex? Our expert assessment conducted according to TU’s own methodology showed that XBTFX is one of the top brokers in the financial market with the TU Overall Score of 7.52 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 | XBTFX | HotForex |
|---|---|---|
Overall |
3.7 |
4.6 |
1.2 |
4.5 |
|
4.2 |
4.4 |
|
3.9 |
4.6 |
|
Investment Instruments |
4.6 |
4.1 |
Platforms and Charting Tools |
4.7 |
4.9 |
Deposit and Withdrawal |
4.5 |
4.4 |
Research |
3.8 |
4.8 |
Education |
3.5 |
4.8 |
Support |
4.1 |
4.4 |
Bonuses |
2.4 |
4.2 |
|
|
|
XBTFX vs HotForex: Pros and Cons
Established in 2019, XBTFX has been following its core goal to bridge the gap between the cryptocurrency market and brokerage companies. At the same time, the company runs its business based on the principles of high transparency and accessibility. XBTFX is a Cryptocurrency-based Forex and CFD provider that gives customers access to leveraged trading on digital assets and traditional financial markets.
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.
| XBTFX | HotForex | |
|---|---|---|
| Overall Pros | Crypto dposits | favorable trading conditions and low spreads - from 0 pips |
| Big choice of supported crypto assets | controlled by several regulators | |
| Copy trading and MAM services for investors | no commissions for account replenishment and bank transfers | |
| 1200+ supported assets | ||
| 100% bonus | ||
| Advanced tools for money managment and analysis | ||
| Overall Cons | unregulated broker | Withdrawal terms do not always correspond to those indicated |
XBTFX vs HotForex: Safety and Regulation
| Regulated By: | XBTFX | HotForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
Not regulated |
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. |
XBTFX vs HotForex: Trading Conditions
| Trading Conditions | XBTFX | HotForex |
|---|---|---|
Minimum Deposit |
$1 |
$5 |
Trading Platforms |
MT4, MT5, Webtrader, Mobile platforms |
MT4, MT5 HotForex FIX/API |
Max Leverage (Futures) |
1-500 |
1-1000 |
Supported Markets |
FX, Commodities, CFDs, CryptoCurrency, Share CFD, Commodities, Metals |
Forex, Stocks, ETFs, CFDs on commodities, indices, shares, crypto, metals |
Trading assets |
150+ |
1200+ |
Trading Accounts |
Standard, ECN |
Demo, Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFcopy, Islamic account |
Base Account Currencies |
BTC, ETH, XRP, USDT, USDC |
EUR, USD |
XBTFX vs HotForex: Fees
Forex Trading Fees
| Fee | XBTFX | HotForex |
|---|---|---|
Standard Account EURUSD Average Spread |
1 pip |
1.3 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3.5 per lot |
$3 per lot |
ECN Account EUR Average Spread |
0.2 pips |
0.1 pips |
CFD Trading Fees
| Fee | XBTFX | HotForex |
|---|---|---|
CFD Trading Fee |
Crypto CFDs - 0.075% per deal, US Stock CFDs $0.10 per share, EU, ASIA, Russia stock CFDs - 0.45% |
Floating spread, Shares CFDs - 0.1% of trading volume |
Non-Trading Fees
| Fee | XBTFX | HotForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
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.
XBTFX vs HotForex: Trading Assets
| Asset Name | XBTFX | HotForex |
|---|---|---|
Overall |
200+ |
1200+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
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 |
XBTFX or HotForex: Investment Programs
| Asset Name | XBTFX | HotForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
Bond CFDs |
Trading Platforms: HotForex or XBTFX
| XBTFX | HotForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
HotForex FIX/API |
Others |
No |
No |
|
|
|
XBTFX vs HotForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | XBTFX | HotForex |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
No |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
No |
XBTFX vs HotForex: Research
| Research Type | XBTFX | HotForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
No |
Yes |
XBTFX vs HotForex: Education
| Education Type | XBTFX | HotForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
HotForex vs XBTFX: Support
| Support Features | XBTFX | HotForex |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
yes |
Online chat |
No |
Yes |
Other |
Twitter, Facebook, Reddit |
No |
XBTFX vs HotForex: Forex Bonuses and Promo
| Promo | XBTFX | 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 |
Earn up to 30% of what your referrals pay in trading fees |
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 XBTFX
-
Comment
I have been working with XBTFX for three months and I am satisfied. Spreads are lower than with other companies. Slippages are fairly low if any. The platform workswithout any problems, I open and close orders instantly. And the support is adequate.
-
Comment
From the very beginning, XBTFX conditions suited me and I was satisfied with a minimum deposit. To achieve results, of course, you need more, but this is a good investment to start with for a novice trader. Then, when you become more experienced, you can increase it and get rich.
-
Comment
Good guys work at xbtfx and I often write to them in the chat. Everything is explained clearly, and I am satisfied with deposit and withdrawal methods. Fees are also good.
-
Comment
I would like to share my experience with XBTFX, which turned out to be a good choice. Among the positive aspects is that this broker allows scalping and also provides high leverage, which can be useful for experienced traders. The account opening process was incredibly fast and took only 3 minutes. I liked that the information on the XBTFX website is accessible, making it easy to interact with. All this made my work in the market easy and comfortable.
-
Comment
I have been trading with XBTFX since 2023, starting with small amounts. Now I am already trading with large amounts and I can wholeheartedly recommend this broker, because execution of orders is excellent and withdrawal of profits is very fast. The broker doesn't interfere with trading.
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.