IC Markets vs hotforex, 2023 Update
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IC Markets Rating
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hotforex Rating
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Losses can exceed deposits |
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IC Markets vs hotforex Guide |
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Read our In-Depth IC Markets vs hotforex Review - 2023 Update
This IC Markets vs hotforex review has been updated for 2023 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this IC Markets vs hotforex review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
hotforex Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs hotforex
Every online trading system has a few pros and cons, and no IC Markets and hotforex review would be complete without having a balanced approach. Compare IC Markets and hotforex to understand how they line up against each other before you open an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
So you are looking for a professional broker and are choosing between IC Markets or hotforex. Who should you choose?
Our IC Markets vs hotforex comparison contains the most recent information so you can easily compare hotforex against IC Markets.
If you are a new entrant in the world of trading and brokers, so many nuances will be perplexing for you. Getting into the world of trading demands expert analyzing skills and thorough knowledge. You'll acquire adept at all of the concepts of broker as you continue trading. For starters, you need to choose the right agent who will be clear with you always.
In this fast-paced world of stock markets and trading, you will need guidance to make correct decisions. A professionally direct investment plan has the potential to create hefty returns. IC Markets and hotforex are two such platforms that will take you and your investment to great heights. It's crucial to compare IC Markets vs hotforex until you trust them with your money.
Our IC Markets vs hotforex comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and hotforex side by side.
Our full IC Markets vs hotforex Review covers all you need to know about trading with either IC Markets or hotforex. A fantastic broker can multiply your first investments and give you positive profits. If you want to earn profits, you must trade with a brokerage service that aligns with your investing objectives.
There is no sure-fire way to ensure profits; therefore, you should carefully assess your broker before you select them. It's a frequent misconception that all brokers are exactly the same, but that's not true. Wrong judgment, initially, can put your investments in danger.
IC Markets and hotforex are both brokers that have paved their way successfully into the brokerage world. Within this review, we have tried to collate some of the important aspects of both IC Markets and hotforex. This review can help you to know whether either hotforex or IC Markets is a fantastic fit for your own investments or not. We've tried to breakdown all of the features and charges for your convenience.
Benefits of IC Markets and hotforex Compared
IC Markets has a minimum deposit of $200 while hotforex offers a $250 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and hotforex compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
IC Markets allows you to trade around 232 financial instruments whilst hotforex has around 232 financial instruments on their platform.
The more financial instruments you can trade on the IC Markets and hotforex platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you seriously do not want to miss out on a trading opportunity due to the limitations of IC Markets or hotforex.
IC Markets and hotforex Contact Details
Being able to contact a broker easily is a sign of a professional broker. IC Markets and hotforex have the following contact details and social medias that you can use.
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| Broker | IC Markets | hotforex |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | ||
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
| IC Markets Twitter Account | hotforex Twitter Account | |
| IC Markets Facebook Page | hotforex Facebook Page | |
| IC Markets Instagram Account | hotforex Instagram Account | |
| IC Markets LinkedIn Page | hotforex LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | hotforex YouTube Channel |
| Find Out More |
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hotforex and IC Markets Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.
In this part of our comparison of IC Markets and hotforex we'll check whether either of their mobile apps tick all the boxes.
We rate overall the user-friendliness of both apps as better than average.
It is important that any trading app has user friendly capabilities especially with the
Search Functions
Although most brokers do OK in this area, there are some bad apples out there. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
IC Markets vs hotforex - Awards
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| Broker | IC Markets | hotforex |
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IC Markets have won many industry awards over the time they have been operating as an online broker. We show the most recognised awards for IC Markets here.
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At the time of writing this hotforex review, and despite hotforex’s impressive offering, the company has surprisingly not garnered any awards to date. |
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IC Markets vs hotforex - Frequently Asked Questions
IC Markets vs hotforex - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
hotforex was founded in 2012 and has its head office in United States.
What is the minimum deposit for hotforex or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for hotforex is $250.
Depending on your needs, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and hotforex are a good option.
IC Markets vs hotforex - Regulation And Licencing In More Detail
IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).
hotforex is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F255.
Both IC Markets and hotforex have a powerful collection of rules for ensuring honest trading on their individual platforms. For data encryption functions, they provide industry-standard secure socket layers (SSL).
In accordance with their privacy regulations, client data is to not be shared with any other institutions or individuals. This includes credit history and other financial details.
Compare IC Markets vs hotforex Commission And Fees
IC Markets and hotforex are online brokerage platforms, and most online brokerages charge lower prices than traditional brokerages tend to charge. The cause of this is that the companies of online trading platforms are scaled better. In other words, an online broker is not necessarily influenced by the amount of customers they have.
However, this does not mean that online brokers do not charge any fees. They charge prices of varying rates for various services to make money. There are primarily 3 types of penalties for this purpose.
The first sort of charges to look out for are trading fees. Whenever you make an actual trade, like buying a stock or an ETF, you're charged trading fees. In these cases, you are spending a spread, funding rate, or a commission. The sorts of trading fees and the prices vary from broker to broker.
Commissions could be fixed or dependent on the traded quantity. On the flip side, a spread refers to the difference between the buying and selling price. Financing or overnight rates are those who are billed when you hold a leveraged position for more than a day.
Aside from trading charges, online agents also charge non-trading fees. These are dependent on the activities you undertake in your account. They are charged for operations like depositing money, not investing for long periods, or withdrawals.
In general, neither IC Markets or hotforex charge high fees compared to other online brokers. For operations other brokers fee for, they either do not charge a brokerage fee, or they charge a lesser amount. This can be beneficial for people who regularly trade, for example daily or weekly trading.
However, non-trading fees billed by IC Markets and hotforex are comparatively lower. As a result, you're charged more for non-trading activities in your trading accounts, like withdrawal and deposits. These aren't related to the purchase and sale of assets.
This IC Markets vs hotforex review for 2023 breaks down every one of the relevant non-trading charges for you in detail.
Compare Broker Fees For IC Markets And hotforex
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| Broker | IC Markets | hotforex |
| Minimum Deposit | $200 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
| Find Out More |
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What Languages Do IC Markets And hotforex Support?
Being able to chat easily with your online platform is a key element when comparing online brokers to find the best trading partner. Not only for support but to be sure you completely understand everything on their site and inside their app as it is a key factor to success when trading forex.
Here you will find the languages that both IC Markets and hotforex offer communication in.
How Many Clients Do IC Markets and hotforex Have?
Both IC Markets and hotforex are well established with their client base. It is important to work with a broker that is reputable and one of the most simple ways of establishing this is by knowing how many clients they already work with.
Below you will find details of how many users IC Markets and hotforex are active on their platform
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| Broker | IC Markets | hotforex |
| Clients / Users | 60,000+ | 30,000+ |
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What Payment Methods Do IC Markets and hotforex Accept?
IC Markets and hotforex both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at IC Markets and hotforex
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| Broker | IC Markets | hotforex |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Payoneer | No | Yes |
| Neteller | Yes | Yes |
| Find Out More |
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What Can You Trade With IC Markets and hotforex?
IC Markets offers 232 trading instruments while hotforex offers 138.
Below you will find a full breakdown of what both IC Markets and hotforex offer.
Compare IC Markets To All Other Brokers
Compare hotforex To All Other Brokers