HotForex vs FXChoice Broker Comparison

Are you trying to figure out which is a better broker, HotForex or FXChoice? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that HotForex is the better of the two. HotForex offers 160 instruments, licenses from FSCA, FSA(SVG), and fair trading fees.

In the tables below, you can compare the features of HotForex and FXChoice 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 HotForex higher than FXChoice.

Rating
94.3/100
93.8/100
Min. Deposit
5$
100$
Regulated By
FSCAFSCA
FSA(SVG)FSA(SVG)
IFSCIFSC
Bonus
100%
15%
Min. Spread
1
1.4
Max. Leverage
1:1000
1:200
Currency Pairs
50
36
Trading Instruments
160
50+
Trading Platforms
MT4, MT5, mobile
MT4, MT5, mobile
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, PaySafe, ePay, E-Wallet and more
Type of Brokers
STP/ECN
Market Maker/NDD
Customer Support
24/5
24/5
Language Support
27
8
Established
2010
2010
Used By
2,000,000+ Traders
100,000+ Traders

Does HotForex or FXChoice 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 FXChoice 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 FXChoice the spread is 1.4.

This shows that HotForex is the better option for low-cost forex trading.

When it comes to non-trading fees, HotForex charges for inactivity. FXChoice charges for deposit, withdrawal. With this in mind, HotForex has lower non-trading fees.

When our experts analyzed the specific costs of both brokers, we found that FXChoice is the better option.

Trading Fees*

*Based on Standard account type.

Non-Trading Fees

Which broker is safer, HotForex or FXChoice?

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. FXChoice is regulated by IFSC 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.

Broker summary

How many trading instruments are available at HotForex and FXChoice?

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, FXChoice boasts 50+ tradable instruments. FXChoice offers 36 currency pairs, 3 cryptocurrencies, and 0 stocks and shares. FXChoice 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.

Markets and Products

Which broker offers the best trading platform, HotForex or FXChoice?

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 FXChoice has 3 trading platforms, too. Both brokers also offer research and trading tools, however HotForex has more.

Overall, our experts agree that HotForex boasts the better trading platform offering.

Research Tools

Which is better for beginners, HotForex or FXChoice?

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 $.

Educational Features

Which broker is better overall?

Overall, our tested reviewing methodology proves that HotForex is the better broker in a range of key areas. You can learn more by reading our HotForex and FXChoice reviews.

HotForex vs FXChoice
HotForex
94.3
Points
FXChoice
93.8
Points
Overall
1 points
HotForex
95
Points
FXChoice
96
Points
Commissions & Fees
1 points
HotForex
96
Points
FXChoice
93
Points
Licensing & Safety
3 points
HotForex
89
Points
FXChoice
98
Points
Trading Platforms & Tools
9 points
HotForex
98
Points
FXChoice
97
Points
Payments
1 points
HotForex
92
Points
FXChoice
92
Points
Customer Service
HotForex
96
Points
FXChoice
87
Points
Educational
9 points
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