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

Features & PlatformsHotForex (visit site)FBS (visit site)
Headquarter:St. Vincent and the GrenadinesBelize
Established :
20102009
Retail Loss Rate:
68.10%75.20%
Regulation:
Minimum Deposit:
$5$1
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
NoNo
Deposit Fee:
Third-PartyYes + Third-Party
Withdrawal Fee
Yes + Third-PartyYes + Third-Party
Funding Methods:
96
MT4:
MT5:
cTrader:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Well-balanced asset selectionLarge trading community
Unique Feature Two:
Low trading costsCent accounts for beginners
Broker Offers:

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

Available MarketsHotForexFBS
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
1:10001:3000
Maximum Pro Leverage:
1:5001:3000

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

Typical Spreads & FeesHotForexFBS
Minimum Raw Spreads:
0.0 pips-0.1 pips
Minimum Standard Spreads:
1.0 pips0.5 pips
Minimum Commission for Forex:
$6.00 per round lot$6.00 per round lot
Commission for Equities:
0.30% or $0.10 per shareCommission-free
Commission Rebates:
YesNo
Execution Type:
Market Maker/ECN HybridMarket Maker/ECN Hybrid

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

FBS

Country of the RegulatorName of the RegulatorLicense Number
Belize
International Financial Services Commission000102/198
Cyprus
Cyprus Securities and Exchange Commission331/17

HotForex

Country of the RegulatorName of the RegulatorLicense Number
St. Vincent and the Grenadines
UnregulatedUnregulated
UK
Financial Conduct Authority801701
Dubai
Dubai Financial Services AuthorityF004885
South Africa
Financial Sector Conduct Authority46632
Seychelles
Financial Services AuthoritySD015

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

ProsCons
Low Forex trading costs from $5.00 per 1 standard lotLimited 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

ProsCons
Highly competitive pricing environment in its commission-based Forex accountNo 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.

Read full HotForex Review
Read full FBS Review

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.

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