XM vs HotForex - Fees Review included
Which broker is better XM or HotForex? Our expert assessment conducted according to TU’s own methodology showed that XM is one of the top brokers in the financial market with the TU Overall Score of 9.1 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 | XM | HotForex |
|---|---|---|
Overall |
4.5 |
4.6 |
4.9 |
4.5 |
|
4.3 |
4.4 |
|
4.4 |
4.6 |
|
Investment Instruments |
4.4 |
4.1 |
Platforms and Charting Tools |
4.6 |
4.9 |
Deposit and Withdrawal |
4.7 |
4.4 |
Research |
5 |
4.8 |
Education |
5 |
4.8 |
Support |
4.6 |
4.4 |
Bonuses |
5 |
4.2 |
|
|
|
XM vs HotForex: Pros and Cons
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
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.
| XM | HotForex | |
|---|---|---|
| Overall Pros | Well-Regulated broker | favorable trading conditions and low spreads - from 0 pips |
| Strong research tools | controlled by several regulators | |
| Strong education | no commissions for account replenishment and bank transfers | |
| Big Forex bonuses | 1200+ supported assets | |
| Free deposit and withdrawal | 100% bonus | |
| Instant withdrawal | Advanced tools for money managment and analysis | |
| 1000+ trading assets | ||
| Overall Cons | High spreads | Withdrawal terms do not always correspond to those indicated |
XM vs HotForex: Safety and Regulation
| XM | HotForex | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 |
£85,000 €20,000 |
FCA UK Regulation |
No |
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) |
Yes |
Yes |
XM vs HotForex: Trading Conditions
| Trading Conditions | XM | HotForex |
|---|---|---|
Minimum Deposit |
$5 |
$5 |
Trading Platforms |
MT4, MT5 |
MT4, MT5 HotForex FIX/API |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1-1000 |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, Stocks, ETFs, CFDs on commodities, indices, shares, crypto, metals |
Trading assets |
1300+ |
1200+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Demo, Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFcopy, Islamic account |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
EUR, USD |
XM vs HotForex: Fees
| XM | HotForex | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,7 |
0,3 |
Standard acc. spread EUR/USD, max pips |
1,2 |
1,4 |
ECN Commission |
3,5 |
3 |
ECN Spread EUR/USD |
0,2 |
0,2 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
No |
No |
Inactivity fee, $ |
10 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
XM vs HotForex: Trading Assets
| Asset Name | XM | HotForex |
|---|---|---|
Overall |
1300+ |
1200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
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 |
No |
No |
Binary Options |
No |
No |
XM or HotForex: Investment Programs
| Asset Name | XM | HotForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
Bond CFDs |
Trading Platforms: HotForex or XM
| XM | HotForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
HotForex FIX/API |
Others |
No |
No |
|
|
|
XM vs HotForex: Deposit and Withdrawal Methods
| XM | HotForex | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
Yes |
Yes |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
XM vs HotForex: Research
| Research Type | XM | HotForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
XM vs HotForex: Education
| Education Type | XM | HotForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
HotForex vs XM: Support
| Support Features | XM | HotForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
XM vs HotForex: Forex Bonuses and Promo
| Promo | XM | HotForex |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex 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 |
Multi tier 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 |
no |
|
|
|
|
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.
Top 5 Reviews on XM
-
Comment
I liked that XM Group pays a lot of attention to beginners. The minimum order starts from 0.01 lots, and the margin requirements are clearly stated: margin call at 50%, stop-out at 20%. I opened an account in US dollars, but EUR, GBP, JPY, and many other currencies are also available. Within a month, I earned my first $120 using simple strategies on EUR/USD, and all trades were executed without delays. Another advantage is the detailed educational section and webinars from the broker’s analysts.
-
Comment
XM Group offers convenient support — available five days a week via chat and email. I once had to resolve a verification issue, and everything was handled within 30 minutes. I was pleased with the wide selection of terminals: although all are MetaTrader, there are 16 different versions for various devices. I trade on both my smartphone and laptop without any problems. Another plus is the full report on all commissions and transparent conditions — I’ve never encountered any hidden fees.
-
Comment
Account setup was quick and simple. I choose their MT4 trading app and can say it works pretty well. The execution speed is solid, and the spreads on the standard account are within the standards. Overall it’s been a solid experience and must say that the service here is great…
-
Comment
I discovered XM Group because of their trade copying program through MQL5. It’s very convenient for beginners: the service is integrated into MetaTrader, allowing automatic copying of top traders’ deals. I’m subscribed to one ranked trader myself — the results have been positive for three consecutive months, with an average monthly return of 8–12% at moderate risk. I paid a fixed commission for copying, and after a month, I can opt out — very convenient.
-
Comment
It’s a cool broker and it works really well especially because the support are helpful, professional and available 24/7.
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.