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eToro vs HotForex 2019

Is eToro better than HotForex? After grading forex brokers on nearly 100 different variables, eToro is better than HotForex.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature eToro HotForex
Overall 4 3
eToro Review HotForex Review
75% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature eToro HotForex
Trust Score 88 80
Year Founded
2007 2010
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
2 1
Tier-2 Licenses
1 3
Tier-3 Licenses
0 2
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature eToro HotForex
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Investments

Feature eToro HotForex
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
47 49
CFDs - Total Offered
1980 104
Cryptocurrency traded as actual
Yes No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 4 3
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Cost

Feature eToro HotForex
Average Spread EUR/USD - Standard
3 (as of May 19) 1.2
All-in Cost EUR/USD - Active
N/A 0.9
Active Trader or VIP Discounts
Yes No
Commissions & Fees 3.5 4
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Funding

Feature eToro HotForex
Minimum Initial Deposit
$200 $50
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
Yes Yes

Trading Platforms

Feature eToro HotForex
Proprietary Platform
Yes No
Desktop Platform (Windows)
No Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
No Yes
MetaTrader 5 (MT5)
No Yes
cTrader
No No

Trading Tools

Feature eToro HotForex
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
6 7
Charting - Indicators / Studies (Total)
66 51
Charting - Drawing Tools (Total)
13 31
Charting - Trade From Chart
No Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4 3
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Mobile Trading

Feature eToro HotForex
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
No Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
5 30
Charting - Draw Trend Lines
No Yes
Charting - Trend Lines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No No
Forex Calendar
No No
Mobile Trading 4 3
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Research

Feature eToro HotForex
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
No Yes
Weekly Webinars
No Yes
AutoChartist
No Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 3 3.5
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Education

Feature eToro HotForex
Has Education - Forex
Yes Yes
Has Education - CFDs
No No
Client Webinars
Yes Yes
Client Webinars (Archived)
No Yes
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes No
Education 4 3
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Major Forex Pairs

Feature eToro HotForex
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes

Overall

Feature eToro HotForex
eToro Review HotForex Review
Overall 4 3
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Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare eToro vs HotForex.

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. HotForex received a rating of 4.00 stars over eToro's 3.50 stars.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. eToro and HotForex both are regulated in a major hub. Neither eToro and HotForex are publicly traded companies. How many currency pairs are available to trade? HotForex boasts an offering of 51 different currency pairs compared to eToro's 47 available pairs.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. HotForex offers Meta Trader while eToro does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. eToro trails HotForex by 17 total charting tools, with HotForex offering 31 and eToro offering 14. HotForex trails eToro by 16 total different indicators (for example, moving averages), with eToro offering 67 and HotForex offering 51.

eToro Review
HotForex Review


Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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