Compare forex brokers GMOTrading VS Hotforex

If you're choosing between GMOTrading and Hotforex forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is GMOTrading better than Hotforex? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

GMOTRADING VS HOTFOREX

GMOTrading
GMOTrading Overview

GMO Trading is a Cypriot online broker that has been in operation since 2017. The brand offers forex/CFDs for trading on the MT4 trading platform.

HotForex
HotForex Overview

HotForex is a multiple award winning Forex and CFD brokerage firm. This global brokerage brand claims over a million traders from a handful of countries who trade cryptos, bonds, commodities, indices and currency pairs.

# Broker's Features GMOTRADING Availability HOTFOREX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare GMOTrading vs Hotforex.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. GMOTrading offers Online Financial Trading and Investment Services Such as N/A, while Hotforex offers Forex and Spot Metals, CFDs on Commodities, Indice.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. GMOTrading is STP, while Hotforex is Broker.

Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. GMOTrading recommended minimum capital is N/A, while Hotforex has a Minimum Deposit Requirement of 5.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. GMOTrading is regulated by CySec, while Hotforex regulated by CySEC, FSC, FSB, FCA, BaFin, DFSA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Account currencies: Next lets consider the Account currencies each broker offers. GMOTrading offers USD, EUR, GBP different account currencies for each account types, while Hotforex offers EUR, USD, PLN account currencies.

Languages Available: Next lets have a look at each broker's different Language options. GMOTrading offers English, Italian, Russian, Polish, German, Spanish, while Hotforex offers Russian, English, Spanish, Bangladesh, Vietnamese, Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. GMOTrading offers Credit/Debit Cards, Bank wire transfer, Skrill, Webmoney, different payment methods for each account types, while Hotforex offers Bank Wire Transfer, Credit/Debit Cards, WebMoney, Skrill payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, GMOTrading makes MT4, WebTrader available to clients, while Hotforex offers MT4, MT5, Mobile Trading, iPhone, iPad, Android, W.

The Verdict: GMOTrading or Hotforex?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Hotforex is more reliable based on our criteria above. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. Hotforex broker is regulated in more major hubs. Hotforex offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. Only Hotforex provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.

Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.

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