FBS versus HotForex
FBS is one of the most accessible brokers industry-wide with a minimum deposit of $1, complemented by maximum leverage of 1:3000, six account types, including a dedicated cryptocurrency option, and generous bonuses. It maintains the core MT4/MT5 trading platforms, developed a proprietary mobile trading app, and has an in-house copy trading service. FBS also has one of the lowest trading costs.
HotForex counters with an equally competitive core trading environment as FBS but adds a well-diversified asset selection, dedicated support for algorithmic traders and asset managers, and superior trading tools.
Both brokers offer beginner traders quality educational content and generous bonuses, but the in-house research at HotForex trumps that at FBS.
We have conducted an in-depth review of FBS and HotForex to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- FBS versus HotForex- Verdict
Belize Saint Vincent and the Grenadines ASIC, CySEC, FSC Belize CMA, CySEC, DFSA, FCA, FSA, FSC Mauritius, FSCA 2009 2010 ECN/STP ECN/STP, Market Maker $5 $0 N/A Other, MetaTrader 4, MetaTrader 5+ MetaTrader 4, MetaTrader 5, Proprietary platform $11.00 1.3 pips $14.00 1.9 pips $0.05 $0.06 $0.31 $0.27 69.21% N/A Not applicable N/A 0.7 pips N/A Commission-free N/A Get Started Get Started
Features and Platforms
N/A N/A Get Started Get Started
Noteworthy:
The FBS trading community of 23+ million traders from 150+ countries is notably larger than at HotForex, home to 2.5M+ live accounts, but HotForex maintains a better overall trading environment.
Available Markets
N/A N/A N/A N/A Get Started Get Started
HotForex offers traders a significantly broader choice of assets, except for cryptocurrencies, which are notably absent from its list. FBS shines with 30 cryptocurrency pairs, but it cannot compete with HotForex in other sectors where it offers traders 53 currency pairs, 15 commodities, 23 indices, 54 equity CFDs, 910 shares, and 34 ETFs.
Typical Spreads and Fees
$11.00 1.3 pips $14.00 1.9 pips $0.05 $0.06 $0.31 $0.27 $20.00 $76 Not applicable N/A 0.7 pips N/A Commission-free N/A N/A N/A Get Started Get Started
FBS offers a cheaper commission-free cost structure, but HotForex presents traders with a more competitive commission-free alternative. While the commission is $6.00 per round lot at both brokers, HotForex delivers lower average Forex spreads. It also has cheaper swap rates on leveraged overnight positions.
Security and Trust
Australia, Belize, Cyprus United Arab Emirates, Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, South Africa ASIC, CySEC, FSC Belize CMA, CySEC, DFSA, FCA, FSA, FSC Mauritius, FSCA 000102/6, 331/17, 426359 801701, 183/12, F004885, 46632, SD015, C110008214, 155 4, 1, 1 1, 1, 2, 2, 4, 4, 2 Get Started Get Started
FBS
FBS and HotForex have well-established records and remain fully compliant with their regulators. Both offer negative balance protection, segregate client deposits from corporate funds, and have deservedly earned trustworthy reputations industry-wide.
HotForex vs FBS – Verdict
FBS
| Pros | Cons |
| Low Forex trading costs from $5.00 per 1 standard lot | Limited overall asset selection |
| Competitive choice of cryptocurrencies | |
| Proprietary copy trading service and one of the largest trading communities | |
| Minimum deposit of $1 with maximum leverage of 1:3000 |
HotForex
| Pros | Cons |
| Highly competitive pricing environment in its commission-based Forex account | No cryptocurrencies |
| Upgraded MT4/MT5 trading platforms and API trading for algorithmic traders | |
| Well-balanced asset selection with a focus on direct share dealing via MT5 | |
| Quality education, research, generous bonuses, and loyalty program |
Traders at FBS and HotForex get a competitive trading environment, but HotForex provides a notably broader choice of assets and a lower overall cost structure. HotForex also upgrades its MT4/MT5 trading platforms, offers VPS hosting, API trading, and asset management services via MAM/PAMM accounts. It also maintains a loyalty program, rewarding active traders. FBS only bests HotForex with its cryptocurrency selection.
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FAQs
Is FBS a good Forex broker?
FBS presents traders with an overall competitive trading environment. The cost structure ranks among the lowest industry-wide, and beginner traders benefit from a quality educational offering and generous bonuses. The minimum deposit of $1, maximum leverage of 1:3000, and cent accounts make FBS an ideal choice for first-time traders. Therefore, FBS qualifies as a good and high-quality broker.
Can HotForex be trusted?
HotForex has four regulators and maintains a clean record, but most international traders will deal with its unregulated subsidiary, doubling as its headquarters. HotForex ranks among the most trusted brokers.