HotForex vs OANDA: Which One is Better for You?


HotForex vs OANDA, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between HotForex vs OANDA, here is the direct comparison:

Feature
Go to HotForex

Go to OANDA

Rating

General Rating 3.81/5
3.79/5
Trustpilot 2.7/5

rated by 69 users
2.4/5

rated by 58 users

General Information

Office(s) Cyprus, Mauritius, Poland and United Arab Emirates Canada, Germany, Japan, Malta, Poland, Singapore, Switzerland, United Arab Emirates, United Kingdom and United States
Regulation CySEC 183/12
DFSA (Dubai), F004885
FCA (UK), 801701
FSA (Seychelles), 8419176-1
FSA (St. Vincent & the Grenadines), 22747
FSC (Mauritius), 094286
FSCA (South Africa), 46632
CFTC/NFA, 0325821
FCA (UK) 54257
FSA (Japan), 1571
Kanto Local Finance Bureau (Japan), 2137
MFSA, 18.12.2020
Established 2010 1995
Minimum Deposit $5 $1
Maximum Leverage 1:1000 1:50
Spread Variable Fixed
Commissions $8
Minimum Position 0.01 lot 0.00001 lot
Payment Bitcoin, Credit/debit cards, Ethereum, FasaPay, Litecoin, Neteller, Perfect Money, Ripple, Skrill, WebMoney and Wire transfer Credit/debit cards, PayPal and Wire transfer
Official Website Visit HotForex Visit OANDA

Account Variations

Segregated Account
Islamic Account
PAMM Account
Managed Account
LAMM Account
MAM Account
Forex Demo Account

Trading Requirements

Hedging
US traders are welcome
Requires sending documents via postal mail
Overnight interest rates (swaps)
Trading by telephone

Trading Features

Trading contests
Automated trading
Interest rate on funds
Bonus offers
Free education
Personal manager
Affiliate program

Trading Platforms and Complements

Mobile trading
Browser-based platform
Trading via API
One-click trading
Trailing stop
Pending orders
One-Cancels-Other (OCO) orders

Instruments Traded

Forex
CFD
Indexes
Spread betting
Gold & silver
Cryptocurrencies
Stocks
Binary options
Oil
Metals
Energies
Futures
ETF
Soft commodities
Options
Agriculture
Bonds

Customer Support

Website Languages Arabic, Bulgarian, Chinese, English, French, German, Greek, Hindi, Hungarian, Italian, Japanese, Korean, Malay, Persian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Tagalog, Thai, Urdu, Vi Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish
Email Support
Call Support
Chat Support

Reviews

General Review Read HotForex Review Read OANDA Review
User Reviews

Xavier A

Jul 22 2020

HotForex is great! Their service is good, the premium account spreads are better than other brokers, also their execution and server are stable from both web-trading and MT4. During 5 months of trading at HotForex, I have slipped a lot of times but it doesn't matter either, it can be an input for HotForex. Great!


Mariana

Jul 22 2020

Hotforex is great, not bad, though my trading is still on a demo account. I also like this broker because they've held some seminars in Indonesia. I joined them twice :)

Nice to see you, I'm from Indonesia.


Monica B

Jul 22 2020

As long as I trade on Hotforex broker, I found no problem. Their service is satisfying, highly recommended for beginners because the spread offered is interesting. Plus, the HotForex server is rarely down. Nice work!


Claudia

Jul 22 2020

Hi, I'm from Indonesia. HotForex provides deposit and withdrawal methods by Indonesian local banks, and it eases me a lot! Thank you!


Fechia Gaze

Jul 22 2020

HotForex is the best broker I've ever found! Their customer care is very nice, also their deposit and withdrawal process is quite good!


Laura Bay

Jul 22 2020

HotForex is getting more awesome day by day! They even invite one of the actors of GOT (Game of Thrones). I wish they can invite Sansa Stark one day *lol


No Need Name

Jul 22 2020

I've never got any merchandise from HotForex. I think it's because of my deposit number (FYI, I do only a little deposit). I choose HotForex just for comparing the market prices among other brokers I used (3 brokers).


S. Gabrielle

Jul 22 2020

I got merchandise from HotForex Loyalty Program. They give me a new shirt and hat xoxo. Thank you!


Chacha

Jul 22 2020

OANDA offers too little leverage limit. This isn't suitable for small capital traders.


Cooper

Jul 22 2020

From the first year until now, I trade using OANDA and still consider they are the best and most trusted broker. The lot position offered is flexible and the platform is very user-friendly. However, their spreads on Saturdays and Sundays are quite wide, so I have to trade on weekdays. A little troublesome, anyway, but I've already matched with OANDA.


fara

Jul 8 2020

complex feature on this broker


Start Trading

Open Real Account Open HotForex Real Account Open OANDA Real Account




Which one has the better spread?

Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.

However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, HotForex provides their pricing with Variable while OANDA offers Fixed.



HotForex vs OANDA: Who hosts the best trading platform?

The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.

To support their clients, HotForex enables trading with MetaTrader 4 (Limited with 30 days), MetaTrader 5. The offer is supported with Mobile trading, One-click trading, Trailing stop, Pending orders. In comparison, OANDA provides trading with Currenex Classic, Oanda Platform, NinjaTrader with the support of Pending orders.



Is HotForex or OANDA better in providing the trading instruments?

It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.

In this case, HotForex supports trading with Forex, Gold & silver, CFD, Oil, Soft commodities, Cryptocurrencies, while OANDA presents the ability of trading with Forex, Gold & silver, CFD.

In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.

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