HotForex vs AvaTrade Broker Comparison
Are you trying to figure out which is a better broker, HotForex or AvaTrade? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that AvaTrade is the better of the two. AvaTrade offers 250+ instruments, licenses from FSCA, ASIC, IIROC, FSC, FSA, CBI, and fair trading fees.
In the tables below, you can compare the features of HotForex and AvaTrade side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked AvaTrade higher than HotForex.
Does HotForex or AvaTrade have lower trading costs and fees?
To compare the costs of trading at different brokers, our experts analyze both trading-specific fees, such as spreads, and non-trading fees, such as inactivity charges and payment costs.
To give an overall view of how cheap or expensive HotForex and AvaTrade are, we first considered the common fees on Standard Accounts. At HotForex the average spread for the EUR/USD currency pair is 1 pips, whilst at AvaTrade the spread is 0.6.
This shows that AvaTrade is the better option for low-cost forex trading.
When it comes to non-trading fees, HotForex charges for inactivity. AvaTrade charges for inactivity. With this in mind, both brokers offer similar non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that HotForex is the better option.
*Based on Standard account type.
Which broker is safer, HotForex or AvaTrade?
In order to decide how safe our top-rated brokers are, our experts look at a number of factors. This includes what licenses the broker holds and how reputable those licenses are. We also consider the history of the broker, as a long-standing broker is often more reliable and trustworthy than a newer one.
HotForex is regulated by FSCA, FSA(SVG) and offers client protection. AvaTrade is regulated by FSCA, ASIC, IIROC, FSC, FSA, CBI and offers client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that is the safer broker.
How many trading instruments are available at HotForex and AvaTrade?
HotForex provides traders with 160 instruments. This includes 50 currency pairs, 12 cryptocurrencies, and 944 stocks and shares. With HotForex, you can also trade CFDs.
In comparison, AvaTrade boasts 250+ tradable instruments. AvaTrade offers 55 currency pairs, 14 cryptocurrencies, and 617 stocks and shares. AvaTrade also allows CFD trading.
As both brokers offer the same total number of instruments, both are great choice if you are wishing to diversify your trading portfolio.
Which broker offers the best trading platform, HotForex or AvaTrade?
When our experts review a broker, they open their own accounts and place trades via the broker’s trading platform. This allows them to fully evaluate the quality of the platform, how easy it is to use and what features it offers.
HotForex provides you with the ability to trade via 3 trading platforms, and AvaTrade has 4 trading platforms. Both brokers also offer research and trading tools, however AvaTrade has more.
Overall, our experts agree that AvaTrade boasts the better trading platform offering.
Which is better for beginners, HotForex or AvaTrade?
To decide how well-suited a broker is for beginner traders, our experts look at what educational materials are available, how accessible the minimum deposit limits are, the range of account types and whether or not you can practice trading with a demo account first.
Considering this, our reviews show that HotForex is the better broker for beginner traders as it offers a larger range of educational tools and materials. HotForex also has a minimum deposit of $.