Hotforex vs Go Markets | Compare Pros, Cons and More (2024)

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Ryan Hardy sitting before his forex trading desk
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HFM (HotForex) and Go Markets are Forex and CFD brokers offering online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. HFM (HotForex) is regulated by 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, Go Markets is regulated by two tier-1 jurisdictions, one tier-2 jurisdictions and two tier-2 jurisdictions including  ASIC, CySEC, DMCC,FSC Mauritius, SVGFSA. These two brokers offer almost similar services. However, each broker has its own strengths and weaknesses.

In this article, we will compare HFM (HotForex) with Go Markets regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if HFM (HotForex) is better than Go Markets and vice versa. This comparison lets you understand which broker is better for your trading style and preferences.

HotForex vs Go Markets: 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

Go Markets

Established in 2006, GO Markets is an experienced and regulated Australian broker. It gives traders access to trade more than 1,000 forex and CFDs on its MT4, MT5, and cTrader platforms. The broker’s GO Plus+ account comes with raw spreads and low commissions which is great for pro traders. Autochartist, Trading Central, free VPS, MetaTrader Genesis, market news, and analysis are provided.

Go Markets Overview
  • Founded In: 2006
  • Minimum Deposit: $200
  • Maximum Leverage: 500:1
  • Regulations: FSC
  • Trading platform: MT4, MT5, Ctrader , Webtrader ,Mobile Trading Platforms
  • Account Types: Standard, Go Plus Account
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, FasaPay, Neteller, PayTrust88, Poli, Skrill, XPAY
  • US Traders: Not Accept

HotForex vs Go Markets: 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.

Go Markets

Pros
  • Regulated by  ASIC, CySEC, FSC Mauritius, SVGFSA, FSA-S, DMCC 
  • The maximum leverage is as high as 1:500
  • Allows Scalping, News trading, and EA/Robot trading. 
  • Easy and Fast Account Opening 
  • Offers web trading, mobile trading, ECN trading 
  • No inactivity Fees 
  • Low trading fees on all account types.
  • Tight Spreads starting from 0.0 pips
Cons
  • Not regulated by FCA UK
  • The Minimum deposit is $200
  • No investor protection for non-EU clients
  • No Paypal, Crypto Deposit 
  • Only two types of account ( Standard, Go Plus account)

HotForex vs Go Markets: Side-by-Side Comparison

Hotforex
Go Markets
Product
Founded In
Founded In
2010
2006
Founded By
Founded By
George Koumantaris
Chris Gore
Headquarters
Headquarters
Kingstown, St. Vincent
Melbourne, Australia
Regulations
Regulations
FCA, DFSA , FSCA ,FSA,CMA
FSC
Min Deposit
Min Deposit
$5
$200
Max Leverage
Max Leverage
2000:1
500:1
Tradable Assets
Tradable Assets
Forex,Metals,Energies,Indices,Stocks,Commodities,Bonds,ETFs,Cryptos
Forex, Commodity, Share, Index, Metal, Cryptocurrency, Treasury, ETF CFDs Trading
Fees
Fees
Spread from 0.5 pips
Spread from 0.8 pips, commissions $2.50/round lot
Platforms and Tools
Platforms and Tools
MT4, MT5, HFM App
MT4, MT5, Ctrader , Webtrader ,Mobile Trading Platforms
US Traders
US Traders
Not Allowed
Not Allowed

HotForex Vs Go Markets: Our Scores and Ratings

We rated both brokers, HotForex and Go Markets, 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

Go Markets

9
Total Score
Regulation and Security (40%)9.4
Fees and Commissions (20%)9.5
Trading (15%)9
Trading tools (10%)9
Customer Support (10%)9
Trading Education (5%)9

HFM (HotForex) vs Go Markets: Which One is better?

Now the question comes: is HFM (HotForex) better than BlackBull Markets, or vice versa? The answer depends on traders’ and investors’ trading styles and preferences. If you are concerned about security and safety, you may choose a forex broker regulated by top regulatory authorities such as ASIC, CySEC, FCA, NFA, etc. If you are a scalper, you may prefer a forex broker that offers fixed or low spreads. If you want to copy trade from other successful traders, you may choose a forex broker that offers social copy trading facilities. 

Both HFM (HotForex) and BlackBull Markets offer similar trading services worldwide. However, there are differences in their features,  regulations, reputation, and operations. Here are the key facts about both brokers. By reviewing these options, you can clearly understand which broker is right for your trading goals

HFM (HotForex) :

  • HFM (HotForex) is a forex and CFD broker regulated by FCA, CySEC, DFSA, FSCA, CMA, and FSA in Seychelles 
  • The minimum deposit of HFM (Hotforex) is $0. This means there is no minimum deposit of HFM. You may deposit as low as $1
  • Maximum leverage 1:2000
  • Offers MT4, MT5, and HFM trading platforms
  • The trading fee: minimum spreads starting from 0.6 pips. ( Spreads and commissions depend on your account type and the types of tradable assets
  • HFM (HotForex) does not accept US clients. 

Go Markets:

  • Forex and CFD Brokers regulated by ASIC, CySEC, FSC in Mauritius, FSA in Seychelles, FSA in SVG
  • Minimum Deposit: No minimum deposit is required. However, Go Markets recommends having at least $200 to ensure to have enough margin to trade. 
  • Maximum leverage 1:30 (for retail clients), 1:400 (for professional accounts)
  • Offers  MT4, MT5, Ctrader, Webtrader, Copy trading trading, Webtrader, PAMM, and Premium trading tools like Trading Central, VPS, Genesis, Autochartist  
  • The trading fee: spreads starting from 0.8pips for the standard account, or a commission $5 per standard lot for the Go Plus account
  • Go Markets does not accept US clients. 

Our score for HFM (HotForex) is 8.8, and for Go Markets it is 9.

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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