Cutting circular shapes with a hotwire can be tricky. The available tools cost as much as my cutter, so i came up with a cheap alternativ.
Certainly this alternative isn't perfect but it's good enough for me and maybe it could help you with your own project.
Here is the Hotwire cutter on ebay:
https://www.ebay.co.uk/itm/HOT-WIRE-C...
Disclaimer: I have no affiliation with the producer or distrubter of the Hotwire cutter or with Ebay.