XM Vs. HotForex Forex and CFDs Trading Broker Comparison
There are lots of forex brokers out there that claim to be the best in the forex industry. You can’t be successful in forex trading without the aid of a reliable broker. That’s why you should carefully select from reputable and proven forex brokers. XM and Hotforex are two of the top most forex brokers.…
There are lots of forex brokers out there that claim to be the best in the forex industry. You can’t be successful in forex trading without the aid of a reliable broker. That’s why you should carefully select from reputable and proven forex brokers. XM and Hotforex are two of the top most forex brokers. This comparison between these two brokers can help highlight their advantages and help you decide which is better. Below is the XM vs HotForex Broker comparison.
Table of Contents
General overview for XM vs HotForex
XM
XM forex broker has been providing commodities, forex, indices, and equity trading services since 2009. They are regulated by the Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA) UK, Australian Securities and Investment Commission(ASIC), and Markets in Financial Instruments Directive(MiFID). The XM group headquarters is based in Cyprus. Their customer support system offers Live chat.
HotForex
HotForex is a forex and commodity broker that has been providing trading services and facilities since 2010. It allows traders and scalpers unrestricted access to expert advisors. HF Markets Group is regulated by Markets in Financial Instruments Directive (MiFID), Investor Compensation Fund and Financial Conduct Authority (FCA). This broker guarantees security through the segregation of funds, negative balance protection, and market-leading insurance.
XM vs HotForex fees
XM fees
- Inactivity fee applies
- No commission
- No deposit fee
- No withdrawal fee
HotForex fees
- No inactivity fee
- No commission
- No deposit fee
- Withdrawal fee varies
Currency and Commodity Offerings
XM
- XM Group provides 57 currency pairs and 1247 CFDs on Forex (Currency), Majors, Indices, Dow Jones, FTSE, Dax, Nikkei, IPO, ETFs, Bitcoin, Metals, Energies.
HotForex
- HotForex offers 49 currency pairs and has 104 CFDs on Forex(currency), Majors, Indices, Penny Stocks, FTSE, Metals, Agriculture, Energies.
Account Types
XM
- Demo account
- Mini account
- Micro account
- Standard account
- Islamic account
- Zero spread account
- Variable spread account
HotForex
- Demo account
- Mini account
- Micro account
- Standard account
- Islamic account
- Zero spread account
- VIP account
- Fixed spread account
- Variable spread account
Trading Platform
XM
- Web Platform
- Desktop Platform (Windows)
- Social/Copy Trading
- MetaTrader 4
- MetaTrader 5
HotForex
- Web Platform
- Social/Copy Trading
- MetaTrader 4
- MetaTrader 5
Trading Conditions
XM
- Hedging
- Scalping
- Expert Advisors
- Market Maker
- 0.01 Lot Min Trade
- 50 Lot Max Trade
- $5 Min Deposit
HotForex
- Scalping
- Hedging
- STP broker
- Expert Advisors
- Virtual Private Server
- ECN broker (forex)
- Min Trade varies
- Max Trade varies
- $1 Min Deposit
Also Read: Forex Brokers with Low Minimum Deposits
Risk Management Tools
XM
- One-click trading
- Stop losses
- Limit orders
- Trailing stops
- Signal trading
- Price Alerts
HotForex
- One-click trading
- Limit orders
- Price Alerts
- Trailing stops
- Signal trading
- Stop losses
Research
XM
- Daily Market Commentary
- Forex News (Top-Tier Sources)
- Weekly Webinars
- AutoChartist
- Social Sentiment – Currency Pairs
- Economic Calendar
HotForex
- Daily Market Analysis
- Trading strategy
- Forex News (Top-Tier Sources)
- Weekly Webinars
- AutoChartist
- Live Q&A sessions
- Social Sentiment – Currency Pairs
- Economic Calendar
Conclusion
XM
XM Group is one of the best forex brokers in the market as they offer various trading products such as forex currencies and CFDs. They have both MT4 and MT5 platforms which are accessible by their clients on mobile, web and desktop computers. They are regulated with Cyprus Securities and Exchange Commission(CySEC), FCA and ASIC. For security purposes, they segregate clients’ funds. They provide cool bonuses for their customers and offer negative balance protection. On commission-free accounts, XM provides variable spreads that amount to 1.7 pips for the EUR/USD pair while the variable spreads on the Zero account amount to 0.8 pips for the same pair. XM allows leverage up to 1:500.
HotForex
HotForex provides a variety of account types as well as trading tools to help its clients trade forex and commodities easily. They offer customized trading platforms such as HotForex MT4, HotForex MT5, and HotForex PAMM system. HotForex strives to provide advanced technology, great customer service and innovative forex system solutions in the forex industry and also offer 24/5 dedicated support to customers and allow scalping as well as hedging. HotForex has awesome promotions and bonuses of different kinds. They enable smart trading for CFDs on Forex, commodities, indices and a lot more. HotForex also provides tight spreads from as low as 0.1 pips on the EUR/USD. They offer flexible leverage from 1:1 up to 1:1000.
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