ForexMart vs HotForex Broker Comparison
Are you trying to figure out which is a better broker, ForexMart or HotForex? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that ForexMart is the better of the two. ForexMart offers 300+ instruments, licenses from FCA, CySec, and fair trading fees.
In the tables below, you can compare the features of ForexMart and HotForex 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 ForexMart higher than HotForex.
Does ForexMart or HotForex 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 ForexMart and HotForex are, we first considered the common fees on Standard Accounts. At ForexMart the average spread for the EUR/USD currency pair is pips, whilst at HotForex the spread is 1.
This shows that ForexMart is the better option for low-cost forex trading.
When it comes to non-trading fees, ForexMart charges for withdrawal. HotForex 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 is the better option.
*Based on Standard account type.
Which broker is safer, ForexMart or HotForex?
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.
ForexMart is regulated by FCA, CySec and offers client protection. HotForex is regulated by FSCA, FSA(SVG) and offers client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that HotForex is the safer broker.
How many trading instruments are available at ForexMart and HotForex?
ForexMart provides traders with 300+ instruments. This includes 100 currency pairs, 1 cryptocurrencies, and 1 stocks and shares. With ForexMart, you cannot trade CFDs.
In comparison, HotForex boasts 160 tradable instruments. HotForex offers 50 currency pairs, 12 cryptocurrencies, and 944 stocks and shares. HotForex also allows CFD trading.
As HotForex has 160 and ForexMart has 300+, a difference of 140, this shows that HotForex offers more opportunities to diversify your trading portfolio.
Which broker offers the best trading platform, ForexMart or HotForex?
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.
ForexMart provides you with the ability to trade via 3 trading platforms, and HotForex has 3 trading platforms, too. Both brokers also offer research and trading tools, however HotForex has more.
Overall, our experts agree that ForexMart boasts the better trading platform offering.
Which is better for beginners, ForexMart or HotForex?
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 $.