Hotforex vs Just Markets | Fees, Features, Safety & More (2024)

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Ryan Hardy sitting before his forex trading desk
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HFM (HotForex) and JustMarkets 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, JustMarkets is regulated by one tier-1 jurisdictions, one tier-2 jurisdictions, and two tier-4 jurisdictions including CySEC, FSC, FSA -S, FSCA. These two brokers offer almost similar services. However, each has its own strengths and weaknesses.

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

HotForex vs JustMarkets: 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

JustMarkets

Founded in 2012, Just Markets is an online forex broker that offers forex and CFD trading facilities. Regulated by CySEC, FSC (Mauritius), and FSA (Seychelles), Just Markets provides a wide range of trading instruments, including Forex, CFDs, and Cryptocurrencies. The broker allows almost all trading styles, from scalping to EA Trading, Copy Trading, and news trading.

Just Markets offers multiple trading platforms such as MT4, MT5, and a mobile trader platform. For passive investors, Just Markets provides a “copy trading” platform. The broker offers leverage as high as 3000:1. Additionally, with floating spreads starting from 0 pips, Just Markets aims to provide competitive pricing for its clients

JustMarkets Overview
  • Founded In: 2012
  • Minimum Deposit: $1
  • Maximum Leverage: 1:3000
  • Regulations: FSA, Cysec,FSCA,FSC
  • Trading platform: MT4, MT5
  • Account Types: Standard, Raw, Pro 
  • Payment Options: VISA, MasterCard, Airtm, Binance/Binance Pay, Bitcoin, Bitcoin Cash, Boleto, Dogecoin (DOGE), Ether/Ethereum, FasaPay, Litecoin, Local Bank Transfers, Neteller, PayRetailers, PerfectMoney, PromptPay, Ripple (XRP), Skrill, Tether (USDT)
  • US Traders: Not Accept

HotForex vs JustMarkets: 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.

JustMarkets

Pros
  • Regulated by CySEC, FSC, FSA-S 
  • The minimum deposit is as low as $1 
  • Maximum Leverage is 1:3000 (up to 1:30 for retail clients and up to 1:3000 for professional clients on justmarkets.eu )
  • All strategies are allowed (Scalping, News trading, EA Trading) 
  • Negative balance protection;
  • Multilingual support 24/7.
  • MetaTrader 4/5 Offered
  • Spreads from 0 pips
  • 170+ trading instruments
Cons
  •  Not regulated by tire regulators like FCA, ASIC 
  •  No passive investment program ( MAM, PAMM Accounts) 
  •  US, UK, or Japan Traders are not accepted 
  •   A small selection of trading instruments;
  • Sometimes it takes time to receive a response from technical support;
  •  3% withdrawal fees if you do not have any trading activities 

  

HotForex vs JustMarkets: Side-by-Side Comparison

Eightcap
Just Markets
Product
Founded In
Founded In
2009
2012
Founded By
Founded By
Alex Howard
Not Found
Headquarters
Headquarters
Melbourne, Australia
Mahe, Seychelles
Regulations
Regulations
ASIC,FCA, CySEC, SCB
FSA, Cysec,FSCA,FSC
Min Deposit
Min Deposit
$100
$1
Max Leverage
Max Leverage
500:1
1:3000
Tradable Assets
Tradable Assets
Forex,Commodities,Indices,Shares,Crypto
Forex ,CFDs , Gold , Oil
Fees
Fees
Spread from 1 pips or $3.5 per standard lot traded
Spread from 0.1 pips
Platforms and Tools
Platforms and Tools
MT4, MT5, TradingView, Webtrade
MT4,MT5
US Traders
US Traders
Not Allowed
Not Allowed

HotForex Vs JustMarkets: Our Scores and Ratings

We rated both brokers, HotForex and JustMarkets, 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

JustMarkets

9
Just Markets Score
Regulation and Security (40%)9
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)9
Customer Support (10%)9.5
Trading Education (5%)8

HFM (HotForex) vs Just 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. 

JustMarkets:

  • JustMarkets is a forex and CFD broker regulated by CySEC, FSCA, FSA in Seychelles, FSC in Mauritius
  • The minimum deposit is $10 ( Minimum deposit varies based on account types. For example, $10  for standard accounts, $100 for Pro and raw accounts, and $100 or equivalent for EU clients)
  • Maximum leverage: up to 1:3000
  • Offers MT4, MT5, Social Trading platforms
  • The trading fee: Spreads starting from 0.1 pips ( Pro account 0.1 pips, Standard account 0.3 pips, Raw account $3 per lot per per side) 
  • Just Markets does not accept US clients. 

Our score for HFM (HotForex) is 8.8, and for JustMarkets it is 9.0.

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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