By | 5 October, 2019

One of the most competitive brokers in the forex market is HotForex. One of the most famous brokers for beginners is FBS. Which one should you choose? I hope this forex brokers comparison: HotForex vs. FBS can give you the answer.

In this article, I will make a comparison between HotForex and FBS in different categories, including security, trading cost, trading conditions, and customer care. The highest point for each category is 5 points while 0 is the lowest. At the end of this, whoever has more points is considered the better forex broker.


Disclaimer: HotForex and FBS will be ranked in general in this article. That means the better one may not be the suitable one for you. You should check every detail of 2 brokers (which will be mentioned below) to decide who suits you the most.


To know whether a broker is secure and safe, you must always check its forex regulation. Forex regulation is a document brokers receive from financial organizations whenever they can meet the strict standards and requirements of those organizations to conduct business in certain areas.

Let’s check the regulations that HotForex and FBS have acquired. HotForex has the forex regulations of FCA (the United Kingdom), FSCA (South Africa), and DFSA (Dubai). Meanwhile, FBS has CySEC regulation from Cyprus and IFSC regulation of India. HotForex can considered to be safer than FBS since it has more regulations.

However, having many regulations is only good in terms of security. Since regulations limit a certain number of features that a broker can provide, brokers with too many regulations can’t give offer you their best services. So remember to choose a broker with one or two forex regulations.

For security, HotForex earns 5 points. FBS earns 4.5 points.

Whose trading cost is lower?

Trading cost is calculated by adding up all factors like: spreads, commission, slippages, swaps, bonus, rebate, and deposit… The two most important elements are spreads and commission.

The spreads of HotForex are around 1 to 1.2 pips for the main currency pairs at regular account. On the other hand, FBS has spread rates that are estimately 1.1 pips for major pairs. So I can say both have low spreads.

Commission is charged only when you trade ECN account, because ECN account’s spread is very low (sometimes zero) so brokers charge you commission instead. HotForex has a Zero Spread account, which is a form of ECN account, and it charges 6 USD for commission. FBS has both Zero Spread account and ECN account, whose commission are $20 and $6 respectively. So for commission, it is also a tie.

For bonus programs, FBS is famous for it $100 bonus and 100% deposit bonus. HotForex also has very attractive bonus programs like the 100% Super Charge bonus and 30% Rescue bonus. 

HotForex requires at least $5 from you to start trading, while FBS only needs 1 dollar. So I will give FBS 4.5 points for trading cost, and give HotForex 4 points.

Whose trading conditions are better?

In this category, both HotForex and FBS get it right when it comes to traders’ needs. They both have several accounts that meet the requirements of all levels of traders: beginners, experienced, and experts. The features and numbers of their accounts are almost the same.

They both have a copy trading account, which lets investors choose a trader who is doing well and copy all the trades that trader makes.

However, one of the most important features of a forex broker is the payment system. It needs to be fast, advanced, simple, and working with local banks in different countries. For this field, FBS is way ahead of HotForex.

I’m going to give HotForex a 4 and FBS a 4.5.


Customer support

HotForex can support its clients 24/7 with live chat in up to 20 different languages. FBS can support customers through live chat around the clock but only in 18 languages. Moreover, HotForex has offices in 12 countries, which is a huge plus.

HotForex: 5 points. FBS: 4 points.

HotForex vs. FBS

So we can see the final score now. HotForex has 18 points and FBS has 17.5 points, so HotForex is the better forex broker when it comes to HotForex vs. FBS.

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