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

Headquarters	Belize	Cyprus
Regulators	ASIC, CySEC, FSC Belize	CMA, DFSA, FCA, FSA, FSC Mauritius, FSCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established	2009	2010
Execution Type(s)	ECN/STP	ECN/STP, Market Maker
Minimum Deposit	$5	$0
Negative Balance Protection		N/A
Trading Platform(s)	Other, MetaTrader 4, MetaTrader 5+	MetaTrader 4, MetaTrader 5, Proprietary platform
Average Trading Cost EUR/USD	$11.00	1.3 pips
Average Trading Cost GBP/USD	$14.00	1.9 pips
Average Trading Cost WTI Crude Oil	$0.05	$0.06
Average Trading Cost Gold	$0.31	$0.27
Retail Loss Rate	69.21%	N/A
Minimum Raw Spreads	Not applicable	N/A
Minimum Standard Spreads	0.7 pips	N/A
Minimum Commission for Forex	Commission-free	N/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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Features and Platforms

MT4
MT5
MT4/MT5 Add-Ons		N/A
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading		N/A
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
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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

Currency Pairs		N/A
Cryptocurrencies
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
Bonds
ETFs
Options		N/A
Futures
Synthetics
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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

Average Trading Cost EUR/USD	$11.00	1.3 pips
Average Trading Cost GBP/USD	$14.00	1.9 pips
Average Trading Cost WTI Crude Oil	$0.05	$0.06
Average Trading Cost Gold	$0.31	$0.27
Average Trading Cost Bitcoin	$20.00	$76
Minimum Raw Spreads	Not applicable	N/A
Minimum Standard Spreads	0.7 pips	N/A
Minimum Commission for Forex	Commission-free	N/A
Deposit Fee		N/A
Withdrawal Fee		N/A
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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

Country of the Regulator	Australia, Belize, Cyprus	United Arab Emirates, Kenya, Mauritius, Seychelles, United Kingdom, South Africa
Name of the Regulator	ASIC, CySEC, FSC Belize	CMA, DFSA, FCA, FSA, FSC Mauritius, FSCA
Regulatory License Number	000102/6, 331/17, 426359	801701, F004885, 46632, SD015, C110008214, 155
Regulatory Tier	4, 1, 1	1, 2, 2, 4, 4, 2
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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

HotForex

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.

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

• FBS vs LiteForex
• FBS vs XM
• FBS vs OctaFX
• HotForex vs CM Trading
• HotForex vs Exness
• HotForex vs FXTM

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.

By Tobi Amure

Tobi Opeyemi Amure has more than seven years of experience as a financial market analyst. He holds a Bachelor's Degree from Obafemi Awolowo University. Tobi's main area of expertise is in personal finance and the Forex industry. He has contributed to top platforms such as Investopedia, GoBankingRates, and Investing.com, where his expertise in Forex markets and digital assets is widely recognized. Tobi’s engaging storytelling and data-driven analysis have earned him a feature on Forbes and TheStreet, setting him apart as a trusted voice in Forex and online finance. In his free time, he explores emerging Forex trends, refines his market strategies, and actively engages with the global finance community.

Reviewer DailyForex.com Team

The DFX Team at DailyForex is a group of veteran financial analysts, traders, and brokerage industry experts dedicated to producing in-depth broker reviews and cutting-edge market insights, plus analysis of market trends. Holding over 16 years of experience in global financial markets, and 4 B.A. level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using the most advanced methodology in the industry. Also, the DFX team is involved in generating technical analysis, signals, and trading strategies, with a consistent commitment to accuracy and transparency. Whether you’re a beginner or a professional trader, the DFX Team works to ensure you have the tools and insights you need to succeed as a trader in the retail CFD industry.

Fact-checker Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.