XM vs HotForex – Forex brokers comparison


In this session, we will start detail comparison between two brokers. As the first comparison, we chose two major Tier1 license brokers, XM and HotForex. Both brokers are in 10th year anniversary. Both grew up as huge broker with reliability and reputation. Generally, their business strategy is similar about promotions and wide range of service. On the other hand we can see some difference on spread, trading instruments, account currency, social trading etc.
Please see comparison table as follows.


Company and License

XM HotForex
Operating years 10 years 10 years
Licenses FCA, CySEC, ASIC, etc FCA, FSA, etc.

Trading Conditions

XM HotForex
Account types Micro, Standard, Ultra Low, etc
(In detail please refer to another post.)
Micro, Premium, Zero Spread account
(In detail please refer to another post.)
Maximum leverage Standard Account
1:888 ($5 – $20,000)
1 to 1:200 ($20,001 – $100,000
1 to 1:100 ($100,001 -)
1:1000 (Nano account, may be adjusted in case equity > $300,000)
1:500 (Premium account, may be adjusted in case equity > $300,000)
1:500 (Zero Spread account)
Minimum deposit USD5 for all account USD5 (Micro account)
USD100 (Premium account)
USD200 (Zero Spread account)
Account currency USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR, THB
(For Micro and Standard account)
(For all accounts)
Trading Instruments
  – Forex 57 pairs 50 pairs
  – CFD Stock (DMA) 1,140 items 961 items
  – Shares 100 items 56 items
  – Stock Indices: 18 items 11 items
  – Commodities 8 items 7 items
  – Precious Metals and Energies 7 items 9 items
  – ETFs N/A 34 items
  – Cryptocurrency N/A 12 items
  – Bonds N/A 3 items
Trading platform MT4, MT5 MT4, MT5
Average Spread EURUSD
Standard account: 1.7 pips
Ultra Low account: 0.6 pips
Micro account: 1.2 pips
Zero Spread account (typical): 0.1 pips
(with commission 3USD per lot)
Margin call / Stop out Margin call: 50% for all account
Stop out: 20% for all account
Margin call: 40%for Micro account
50%for Premium account and Zero Spread accountStop out: 10% for Micro account
20% for Premium account and Zero Spread account
Deposit and withdrawal methods Credit cards
Multiple electronic payment methods,
Bank wire transfer
Local bank transfer, etc.Zero fee on deposit and withdrawal for
Credit card, Electronic wallet, and Wire transfer over 200USD
Wire Transfer
Credit card deposit (VISA/Master/UnionPay)
Online Payment Options (bitpay, Cryptocurrencies, fasapay, Neteller, Skrill, Vload, WebMoney)
Local Deposit / Bank TransferNo deposit fees for any methods
Brokerage Model NDD NDD (STP and ECN)
Scalping is possible or not Possible Possible


XM HotForex
Promotions Trading bonus (Account Opening Bonus)
30USD, cannot be withdrawn, but profit can be withdrawn.Deposit Bonus
50% deposit bonus up to 500USD or currency equivalent.
20% deposit bonus up to 4,500USD or currency equivalent.10-Year Anniversary Promotion
Total prize value 1MilUSDRoyalty Program
Executive: 7XMP per lot
Gold: 10XMP per lot (+30 Days)
Diamond: 13XMP per lot (+60 Days)
Elite: 16XMP per lot (+100 Days)
Bonus = XMP / 3 (For example, XMP 3,000 points is equal to 1,000 USD.)
HF Rebates
Daily cash rebates direct to client’s account
All positions of 0.1 lots or more
Maximum cumulative rebates USD 8,00030%Rescue Bonus
Deposits over USD 50
Additional ‘Stop Out Bonus’ for qualifying accounts
Maximum cumulative bonus USD 7,00010th Anniversary Promotion
Total 2MilUSD in cash prizes”Loyalty program
Convert 1000 HotForex Bars into cash.
1 USD for 35 HotForex Bars.
Plus other items (AutoChartist subscription, Silver VPS, Private session with HotForex market analysts

Security of clients’ funds and Others

XM HotForex
Safety of Clients’ Funds Negative Balance Protection
Segregation of clients’ funds
Accounts with major banks
Financial safety
Accounts with major banks
Segregation of funds
Negative balance protection
Risk management
Research and Education materials Research
Markets Overview, News, XM Research, Trade Ideas, Technical Summaries, Economic Calendar, XM TV, PodcastEducation
XM Live, Live Education, Educational Videos, Forex Webinars, Platform Tutorials, Forex Seminars
Market News, Market Analysis, Market Outlook, Traders’ Board, Economic Calendar, Live webinarsEducation
Forex Education Videos, Training Courses Videos, e-Course, Webinars, Events
Award Winning Many industry awards Many industry awards
Customer Support Live Chat 24/5 Live Chat 24/5


Both XM and HotForex have been operating for 10 years with Tier1 licenses, and already obtained reliability and reputation as large size of broker. Both brokers are quite reliable, and we recommend to make account on both brokers. But we will pick up major differences between XM and HotForex as follows.

  1. Spread of Standard account of XM is relatively wide (EURUSD: 1.7 pips) — HotForex win
  2. Option of account currency of HotForex is limited (only USD, EUR, NGN) — XM win
  3. Only HotForex offers ETFs and cryptocurrency as one of trading instruments — HotForex win
  4. Only XM offers account opening bonus (US30) which has no requirement of deposit — XM win
  5. XM offers higher cash conversion rate of royalty program — XM win
  6. HotForex offer several types of social trading — HotForex win

But for many other review points, both XM and HotForex can be highly evaluated and no big difference.

In conclusion, more desirable broker might be different for each trader, depends on the difference points (From 1 to 6) above. If a trader prefer to narrower spread, wider options of trading instruments, USD or EUR or NGN as account currency, big interest with social trading, then the trader might choose HotForex. On the other hand, a trader prefer to good bonus including account opening bonus, other than USD or EUR or NGN as account currency, no interest with narrow spread, then a trader might choose XM.

But basically, we recommend both XM and HotForex as top-level reliable brokers.

Also please refer to our review post of XM and HotForex as follows.