FXREVIEW — FXVIEW V/S HOTFOREX?
Continuing the same momentum, here I am back with another reviews on two good forex brokers — Fxview and Hotforex.
Starting with talking about regulations, both are well connected with regulatory bodies. Fxview is regulated and backed with CySEC, FCA, SVG, FSA and many more, meanwhile Hotforex is regulated with FCA, SVG, FSA, FSCA, and DFSA. Having multiple regulations backing your forex broker is a good sign that they have a good sense of security and you can safely deposit the funds with them.
Now, let’s get down to real business — trading conditions
- SPREADS
Clearly, from this point of view, we can see that Fxview’s spreads are a tad bit better than Hotforex’s. You can also add some more pairs of your choice to see, as this was taken from myfxbook spreads page.
2. COMMISSIONS
Fxview — $2/100K RT
Hotforex — $6/100K RT
Undoubtedly, Fxview’s commission is a whole lot cheaper as compared to Hotforex’s.
Let’s include the commission and spreads and this is the full views:
Fxview is taking all the leads, thanks to their low commission.
3. PAYMENT METHODS
Minimum Deposit for Fxview — 5 USD
Minimum Deposit for Hotforex — 5 USD (or 100 USD for Wire Transfer)
Both the brokers accept multiple deposit and withdrawal methods by multiple credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer, and other payment methods. There are no extra fees charged for withdrawal of funds with both too.
4. SERVICES
Both Fxview and Hotforex offer great services ranging from good trading tools to deposit bonuses, and more. Their customer support is responding to my queries, which is an important factor in picking the right forex broker. Talking about inactivity fees:
Fxview — No fees will be charged for the inactivity of an account. Also, if there is zero activity for 6 months, your account will be closed.
Hotforex — 5 USD will be charged for the inactivity of an account for 6 months and then, additionally of 5 USD per month afterward.
Coming to the bigger picture, if you are looking for solid forex trading, Fxview is a good choice. But both the forex brokers are good to pick. In fact, you can try trading with small funds and see how it turns out for you. The final choice is ultimately yours.
Hope this helps.
