CM Trading offers clients its CMTrading Webtrader, catering to manual traders, alongside the out-of-the-box MT4 trading platform, which supports algorithmic trading. Besides the integrated copy trading service in MT4, CM Trading also offers social trading via its proprietary by CopyKat service. CM Trading provides quality education for beginner traders plus daily trading signals by third-party provider NewFactory.
HotForex maintains the MT4/MT5 trading platforms, upgraded via its Premium Trader Tools package consisting of twelve plugins plus the Autochartist plugin. VPS hosting for algorithmic traders, high-quality education and research for beginners, and a loyalty program for active traders supplement a competitive core trading environment.
We have conducted an in-depth review of CM Trading and HotForex to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- CM Trading versus HotForex- Verdict
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Headquarters | Saint Vincent and the Grenadines | South Africa |
Regulators | CMA, CySEC, DFSA, FCA, FSA, FSC Mauritius, FSCA | FSA, FSCA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2010 | 2012 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP, Market Maker |
Minimum Deposit | $0 | $250 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, Sirix |
Average Trading Cost EUR/USD | 1.3 pips | 1.5 pips ($15.00) |
Average Trading Cost GBP/USD | 1.9 pips | 2.6 pips ($26.00) |
Average Trading Cost WTI Crude Oil | $0.06 | $0.06 |
Average Trading Cost Gold | $0.27 | $0.50 |
Islamic Account | ||
Signals | ||
US Persons Accepted? | N/A | |
Managed Accounts | ||
| Visit Website | Visit Website |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
Noteworthy:
CM Trading offers a more competitive choice for social traders, while HotForex caters better to algorithmic trading requirements.
Available Markets
| | |
Currency Pairs | N/A | |
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
CM Trading maintains a small asset selection suitable for beginner traders and those requiring fewer but highly liquid assets. Forex traders get a similar choice of currency pairs at both brokers, but HotForex takes the lead with 1,200+ equity CFDs, and CM Trading trumps HotForex with its cryptocurrency selection, notably missing at HotForex.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 1.3 pips | 1.5 pips ($15.00) |
Average Trading Cost GBP/USD | 1.9 pips | 2.6 pips ($26.00) |
Average Trading Cost WTI Crude Oil | $0.06 | $0.06 |
Average Trading Cost Gold | $0.27 | $0.50 |
Average Trading Cost Bitcoin | $76 | N/A |
| Visit Website | Visit Website |
CM Trading offers commission-free trading costs from 1.2 pips or $12.00 per 1.0 lot for deposits above $1,000 and decreases costs to $9.00 for $10,000+ deposits. HotForex features a commission-free cost structure from 1.0 pips or $10.00 per lot, while its commission-based alternative lowers costs to $6.00.
Security and Trust
| | |
Country of the Regulator | United Arab Emirates, Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, South Africa | Seychelles, South Africa |
Name of the Regulator | CMA, CySEC, DFSA, FCA, FSA, FSC Mauritius, FSCA | FSA, FSCA |
Regulatory License Number | 801701, 183/12, F004885, 46632, SD015, C110008214, 155 | 38782, SD070 |
Regulatory Tier | 1, 1, 2, 2, 4, 4, 2 | 2, 4 |
| Visit Website | Visit Website |
CM Trading and HotForex segregate client deposits from corporate funds and have clean regulatory records. HotForex offers negative balance protection and a €5,000,000 third-party insurance policy for industry-leading security.
HotForex vs CM Trading – Verdict
CM Trading
Pros | Cons |
|---|---|
| Quality education for beginner traders plus actionable trading recommendations | High trading costs and backward account structure |
| Proprietary copy trading service | High minimum deposit requirement |
| 20+ cryptocurrencies, including mini contracts for smaller portfolios | |
| Leading African broker for five consecutive years |
HotForex
Pros | Cons |
|---|---|
| Highly competitive pricing environment in its commission-based Forex account | No cryptocurrencies |
| Upgraded MT4/MT5 trading platforms and API trading for algorithmic traders | |
| Well-balanced asset selection with a focus on direct share dealing via MT5 | |
| Quality education, research, generous bonuses, and loyalty program |
CM Trading provides beginner traders with quality, third-party educational videos and trading recommendations, providing beginner traders with an edge. The proprietary copy trading service caters well to its core market. HotForex is an all-around competitive broker with upgraded trading platforms and low trading costs. However, most traders, especially cryptocurrency and social traders in Africa, will find CM Trading the better all-round option.
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FAQs
Is CM Trading a regulated broker?
CM Trading has a regulatory license and oversight in Seychelles by the Financial Services Authority (FSA) and in South Africa by the Financial Sector Conduct Authority (FSCA).
Can HotForex be trusted?
HotForex complies with four regulators, provides traders with industry-leading protection, and has a clean track record. Therefore, HotForex ranks among the most trusted brokers industry wide.
Is HotForex good for beginners?
HotForex is a good choice for beginners due to its quality education and research services, customer service, upgraded trading platforms and tools, low trading costs, and a trustworthy reputation.
How good is CM Trading?
CM Trading offers cryptocurrency and social traders a competitive trading environment, but trading costs are high, representing the most notable drawback.
How do I withdraw money from CM Trading?
The secure back office of CM Trading handles all financial transactions, where traders have eight deposit and withdrawal options.