Hotforex vs Forex.Com for 2024

Published :
Updated :
Written by
Ryan Hardy sitting before his forex trading desk
Fact Checked by
Richard Walz headshoot
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Traders consistently seek trusted and reliable trading platforms that suit their trading styles and preferences. HotForex and Forex.com are top-tier regulated brokers providing online trading services worldwide. HotForex is known for its social trading and multi-asset platform, regulated in two tier-1 jurisdictions, three tier-2 jurisdictions, and three tier-4 jurisdictions including FCA , CySEC, CMA , FSC Mauritius , SVGFSA ,FSA -S, FSCA, DFSA. On the other hand, Forex.com specializes in online forex trading, regulated by six tier-1 jurisdictions including ASIC , FCA , JFSA ,NFA ,IIROC , MAS. While these brokers offer similar services, they each have their own strengths and weaknesses.

In this article, I have compared HotForex and Forex.com in terms of trading platforms, Pros, Cons, regulations, tradable assets, fees, customer support, and overall trading experience score. This analysis aims to help you determine which broker better suits your trading style and preferences.

HotForex vs Forex.Com: In a Nutshell

HotForex

Founded in 2010, HFM is a renowned broker with multiple regulations and ultra-fast executions of over 1000 trading instruments on its proprietary and MetaTrader platforms. The broker has received over 60 industry awards for outstanding performance. It boasts about 2.5 million clients from all over the world.

Hotforex Overview
  • Founded In: 2010
  • Minimum Deposit: $5
  • Maximum Leverage: 1:1000
  • Regulations: FCA, DFSA , FSCA ,FSA,CMA
  • Trading platform: MT4, MT5, HFM Platform
  • Account Types: Cent, Zero, Pro, Premium
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, PayRedeem, Skrill, UnionPay, WebMoney
  • US Traders: Not Accept

Forex.Com

Founded in 2001, Forex.com is a leading online forex and CFD broker that provides access to a wide range of trading instruments. It is a well-established and regulated forex broker that offers MT4, MT5, and Tradingview platforms for US residents and traders from other countries. , Forex.com is known for its competitive pricing, advanced trading technology, and comprehensive research and analysis tools. It offers over 80 currency pairs, stocks, ETFs, gold, and silver for your personal investment and trading options. Gain capital operates this trading platform.

Forex.com Overview
  • Founded In: 2001
  • Minimum Deposit: $50
  • Maximum Leverage: 50:1
  • Regulations:CySEC, FCA , KNF , IFSC
  • Trading platform:Mobile App, Web Trader, Meta Trader 5
  • Account Types: 
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, ACH Payments (echeck)
  • US Traders: Accepted

HotForex vs Forex.Com: Pros and Cons

HotForex

Pros
  • Regulated by the CySEC, FCA, FSCA, DFSA, CMA, FSC Mauritius, and FSA Seychelles.
  • The Maximum Leverage is as high as 1:2000
  • Favorable trading conditions and low spreads - from 0 pips;
  • Trading is available on the MT4, MT5, and HFM trading app
  • Available trading tools are MT4 premium trader tools, Autochartist, free VPS, etc
  • Insurance coverage of up to $5,000,000
  • Copy trading via HF Copy.
  • Market news, analysis, outlook, and webinars are provided by a dedicated team of analysts.
Cons
  • Premium Pro account requires a $5000 minimum balance
  • To copy trades on HF copy, you need a deposit of €300.
  • No micro accounts for European beginner traders.
  • No bonuses for EU Clients 
  • Few account currencies, which is why some clients have to pay for double conversion
  • Customer support is closed on weekends.

Forex.Com

Pros
  • Regulated by NFA, FCA, ASIC, CySEC,  IIROC, FSA, CIMA, MAS, 
  • Top-rated forex and CFD broker in the USA 
  • Free demo account for prospective traders
  • Crypto Trading available on MT5 Trading Platforms 
  • Offers protection for U.K./E.U. client accounts
  • VPS hosting for automated strategies
  • Offers MAM account for passive investors 
  • Low forex fees, no FX commissions
Cons
  •  You can not deposit less than $100
  •  Maximum leverage is 1:50
  • No account protection for U.S. clients
  • An inactivity fee applied after 12 months of no account activity
  • Non-user-friendly desktop platform
  • Cannot buy and sell other securities (like stocks and bonds)
  •  

HotForex vs Forex.Com: Side-by-Side Comparison

Hotforex
Forex.com
Product
Founded In
Founded In
2010
2001
Founded By
Founded By
George Koumantaris
GAIN Capita
Headquarters
Headquarters
Kingstown, St. Vincent
New Jersey,United States
Regulations
Regulations
FCA, DFSA , FSCA ,FSA,CMA
NFA , CFTC
Min Deposit
Min Deposit
$5
$100
Max Leverage
Max Leverage
2000:1
50:1
Tradable Assets
Tradable Assets
Forex,Metals,Energies,Indices,Stocks,Commodities,Bonds,ETFs,Cryptos
Forex, Indices, Stocks , Cryptocurrency, Commodities , Gold and Silver
Fees
Fees
Spread from 0.5 pips
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, HFM App
Mobile App, Web Trader, Meta Trader 5
US Traders
US Traders
Not Allowed
Allowed

HotForex Vs Forex.com: Our Scores and Ratings

We rated both brokers, HotForex and Forex.Com, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

HotForex :

9.1
Total Score
Regulation and Security (40%)9.8
Fees and Commissions (20%)9
Trading (15%)8
Trading tools (10%)9.2
Customer Support (10%)9
Trading Education (5%)8

Forex.com

9
Forex.com Scores
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)8
Customer Support (10%)8
Trading Education (5%)9

Final Verdict :

Both HotForex and Forex.com are regulated online trading platforms in the industry, offering services to traders and investors. However, there are some differences between them. HotForex is a multi-asset and social trading platform, providing trading instruments,including forex,metals,energies,indices,stock,commodities,bonds,ETFs,cryptos. It offers both leverage and non-leverage tradable assets. On the other hand, Forex.com is a forex and CFD broker offering over forex,indices,stock,cryptocurrency,commodities, gold and silver. 

Our score for HotForex is 8.8, and for Forex.com, it is 9.0 (based on our research; a score above 8 is considered safe and trustworthy). If you are seeking a social trading platform where you can copy other successful traders and have a one-stop solution for various types of trading, you may choose HotForex. However, if you prefer online forex and CFD brokers, you may choose Forex.com.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

Fact Checked by
Ryan Hardy is a Content Writer, Researcher, and Fact Checker at Brokersway. Specializing in forex trading, he focuses on ensuring accuracy in information related to broker regulations, scams, and safety measures. With a commitment to transparency, Ryan plays a vital role in providing traders with reliable insights into the world  of forex brokers
Edited by

Richard Walz, a seasoned content writer and broker’s research specialist, is your go-to authority for decoding online forex brokers and trading platforms. As an editor, he ensures precision and clarity, offering traders valuable insights on Brokersway, a trusted resource for informed decision-making in the dynamic world of currency trading. Richard's role as an editor ensures that the information presented is not only accurate but also presented in a manner that resonates with traders seeking clarity in making better decision.

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