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eToro vs HotForex 2020

Is eToro better than HotForex? After assessing the best forex brokers on nearly 100 different variables, eToro is better than HotForex. eToro is a winner in 2020 for its easy-to-use copy-trading platform where traders can copy the trades of other users across over 1,900 instruments, including CFDs on popular cryptocurrencies. The one downside of eToro is pricing; otherwise, eToro delivers.

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 91 83
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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare eToro vs HotForex.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed 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.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. eToro and HotForex both are regulated in a major hub. Neither eToro and HotForex are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. eToro trails HotForex by 2 total currency pairs (for example, EUR/USD), with HotForex offering 49 and eToro offering 47.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. HotForex makes Meta Trader available to clients, while eToro does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. HotForex offers its clients access to 31 charting tools while eToro has 13 charting tools, a difference of 18. eToro offers its clients access to 66 different indicators (for example, volume) while HotForex has 51 available indicators, a difference of 15.

eToro Review
HotForex Review


Trading CFDs, FX, and cryptocurrencies involve 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 01/15/2020 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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