CM Trading versus HotForex

CM Trading offers clients its CMTrading Webtrader, catering to manual traders, alongside the out-of-the-box MT4 trading platform, which supports algorithmic trading. Besides the integrated copy trading service in MT4, CM Trading also offers social trading via its proprietary by CopyKat service. CM Trading provides quality education for beginner traders plus daily trading signals by third-party provider NewFactory.

HotForex maintains the MT4/MT5 trading platforms, upgraded via its Premium Trader Tools package consisting of twelve plugins plus the Autochartist plugin. VPS hosting for algorithmic traders, high-quality education and research for beginners, and a loyalty program for active traders supplement a competitive core trading environment.

We have conducted an in-depth review of CM Trading 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)CM Trading (visit site)
Headquarter:St. Vincent and the GrenadinesSouth Africa
Established :
Retail Loss Rate:
Minimum Deposit:
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
No$15 monthly after 90 days
Deposit Fee:
Third-PartyYes + Third-Party
Withdrawal Fee
Yes + Third-PartyYes + Third-Party
Funding Methods:
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 selectionQuality educational videos
Unique Feature Two:
Low trading costsProprietary copy trading service
Broker Offers:


CM Trading offers a more competitive choice for social traders, while HotForex caters better to algorithmic trading requirements.

Available Markets

Available MarketsHotForexCM Trading
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
Maximum Pro Leverage:

CM Trading maintains a small asset selection suitable for beginner traders and those requiring fewer but highly liquid assets. Forex traders get a similar choice of currency pairs at both brokers, but HotForex takes the lead with 1,200+ equity CFDs, and CM Trading trumps HotForex with its cryptocurrency selection, notably missing at HotForex.

Typical Spreads and Fees

Typical Spreads & FeesHotForexCM Trading
Minimum Raw Spreads:
0.0 pipsNot applicable
Minimum Standard Spreads:
1.0 pips1.2 pips
Minimum Commission for Forex:
$6.00 per round lotCommission-free
Commission for Equities:
0.30% or $0.10 per shareCommission-free
Commission Rebates:
Execution Type:
Market Maker/ECN HybridMarket Maker

CM Trading offers commission-free trading costs from 1.2 pips or $12.00 per 1.0 lot for deposits above $1,000 and decreases costs to $9.00 for $10,000+ deposits. HotForex features a commission-free cost structure from 1.0 pips or $10.00 per lot, while its commission-based alternative lowers costs to $6.00.

Security and Trust

CM Trading

Country of the RegulatorName of the RegulatorLicense Number
Financial Services AuthoritySD070
South Africa
Financial Sector Conduct Authority38782


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

CM Trading and HotForex segregate client deposits from corporate funds and have clean regulatory records. HotForex offers negative balance protection and a €5,000,000 third-party insurance policy for industry-leading security.

HotForex vs CM Trading – Verdict

CM Trading

Quality education for beginner traders plus actionable trading recommendationsHigh trading costs and backward account structure
Proprietary copy trading serviceHigh minimum deposit requirement
20+ cryptocurrencies, including mini contracts for smaller portfolios
Leading African broker for five consecutive years


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

CM Trading provides beginner traders with quality, third-party educational videos and trading recommendations, providing beginner traders with an edge. The proprietary copy trading service caters well to its core market. HotForex is an all-around competitive broker with upgraded trading platforms and low trading costs. However, most traders, especially cryptocurrency and social traders in Africa, will find CM Trading the better all-round option.

You might also be interested in reviewing the below broker comparisons:

CM Trading offers cryptocurrency and social traders a competitive trading environment, but trading costs are high, representing the most notable drawback


Is CM Trading a regulated broker?

CM Trading has a regulatory license and oversight in Seychelles by the Financial Services Authority (FSA) and in South Africa by the Financial Sector Conduct Authority (FSCA).

Can HotForex be trusted?

HotForex complies with four regulators, provides traders with industry-leading protection, and has a clean track record. Therefore, HotForex ranks among the most trusted brokers industry wide.

Is HotForex good for beginners?

HotForex is a good choice for beginners due to its quality education and research services, customer service, upgraded trading platforms and tools, low trading costs, and a trustworthy reputation.

How good is CM Trading?

CM Trading offers cryptocurrency and social traders a competitive trading environment, but trading costs are high, representing the most notable drawback.

How do I withdraw money from CM Trading?

The secure back office of CM Trading handles all financial transactions, where traders have eight deposit and withdrawal options.

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