HotForex vs Oanda

HotForex vs OANDA Comparison Table 2024
HotForex	OANDA
Review 4 HotForex is now HF Markets. See our review of HF Markets for our latest findings and expert verdict.	Review 4.3

HotForex, now HF Markets, is a hugely popular broker with millions clients and authorization from several trusted regulators, including the FCA and CySEC. Leveraged CFDs are available on popular asset classes alongside industry-leading software, flexible account types and an accessible minimum deposit.	OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
Customer Reviews
	4 Based on 3 OANDA customer reviews
Comment by Reviewer
"HotForex is a great all-rounder that will serve traders of all experience levels. We appreciate the regulated and secure trading environment, low minimum deposit, wide market access and user-friendly copy trading solution."	"OANDA will serve day traders looking for a trustworthy broker with a beginner-friendly platform, superb research and straightforward account opening. The $0 minimum deposit and excellent customer support makes it especially attractive to newer traders."
Pros
Unlimited usage demo account Easy to sign up with no starting deposit Range of deposit and withdrawal methods Transparent fee and commission structures Hugely popular brand with millions of traders Advanced mobile apps with full trading access Market-leading insurance for up to €5,000,000 Virtual private server (VPS) integration support Regulated by tier-one agencies including the FCA Various account types plus Islamic and joint accounts Comprehensive educational platform and trading tools Live chat option with customer support available in 27 languages	The OANDA Trade web platform serves serious day traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed OANDA recently introduced a prop trading service, OANDA Labs Trader, offering a 75% profit share to skilled traders The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted OANDA has enhanced its suite of stocks, now providing exposure to over 2,200 US and European shares With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy The $0 minimum deposit will appeal to newer traders Spreads are tight and there are zero hidden fees
Cons
No cryptocurrency trading No proprietary trading software	The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade High-volume day traders get limited fee rebates or perks compared to leading brands Weekend customer support and extended hours trading aren't available
Awards
Top 100 Companies - World Finance Magazine Best Forex Broker Asia - Global Business Review Magazine 2021 Best Customer Service Experience - Global - World Business Outlook Best Client Fund Security Global - International Business Magazine 2021 Most Transparent Broker - The European - Global Banking & Finance Review Awards	Best Trading Tools winner 2021 - Online Personal Wealth Awards Awarded highest overall client satisfaction 2021 - Investment Trends US Leverage Trading Report, Margin Forex Awarded highest client satisfaction for mobile platform/app 2021 - Investment Trends US Leverage Trading Report, Margin Forex Voted Most Popular Broker 2021 - TradingView Broker Awards Voted Best Forex and CFD Broker 2021 - TradingView Broker Awards
Instruments
CFDs, Forex, Stocks, ETFs, Commodities	CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting
Demo Account
Yes	Yes
Minimum Deposit
$100	$0
Trading Platforms
MT4 MT5	OANDA Trade MT4 TradingView AutoChartist
Payment Methods
M-Pesa Mastercard Neteller PayRedeem Skrill Sticpay Trustly UnionPay Visa Wire Transfer	Credit Card Debit Card Mastercard Neteller Skrill Trustly Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
FCA, DFSA, FSCA, CySEC, FSC, CMA, JFSA	FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI
Margin Trading
Yes	Yes
Margin Rate
	2%
STP Account
No	No
ECN Account
Yes	No
DMA Account
Yes	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	Yes
Market Maker
No	Yes
P2P Trading
No	No
Spot Trading
Yes	Yes
Mobile Apps
iOS & Android	OANDA Trade, MT4
Android App Rating
	3.7
iOS App Rating
	4.7
Auto Trading
HotForex supports automated trading through access to MetaTrader 4 and MetaTrader 5, both of which have extensive expert advisor integration systems.	Expert Advisors (EAs) on MetaTrader
Copy Trading
No	No
Social Trading
No	No
Trade Signals
Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
Yes	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	Yes
Inactivity Fee
	$10
Islamic Account
Yes	No
Account Currencies
USD EUR GBP PLN	USD EUR GBP CAD AUD JPY CHF HKD SGD
Stock Exchanges
Australian Securities Exchange (ASX) Deutsche Boerse Euronext Japan Exchange Group New York Stock Exchange SIX Swiss Exchange	Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng London Stock Exchange Nasdaq Russell 2000 S&P 500
Commodities
Silver	Copper Corn Gold Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat
CFD Trading
HotForex has CFD trading in stocks and shares, indices, ETFs, metals, energies, agricultural commodities and forex. Leverage is in line with the relevant regulatory jurisdictions and spreads are tight with no hidden charges.	You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms.
Leverage
1:30
FTSE Spread
1.16	1.0
GBPUSD Spread
1.8	1.4
Oil Spread
0.05	3.0
Stocks Spread
Variable	12 (Apple Inc)
Forex Trading
HotForex has CFD trading on over 50 major, minor and exotic currency pairs with MT4 and MT5 accounts. This is a strong selection of currencies with advanced analysis software available to plan and execute trades.	OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.
GBPUSD Spread
1.8	1.4
EURUSD Spread
1.3	0.8
EURGBP Spread
1.5	0.9
Assets
50	68
Cryptocurrency
Crypto trading not offered	OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility.
Spread
	$100
Coins
	BTC ETH LTC BCH PAXG LINK UNI AAVE
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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