When choosing a reliable broker for online trading, the options can be overwhelming. Two prominent names that often come up are Exness and HFM (formerly known as HotForex). Both brokers have built a solid reputation in the trading industry, but how do they stack up against each other? In this blog post, we’ll take a deep dive into the features, services, and performance of Exness vs HFM to help you make an informed decision.
Before we jump into our full review, let’s take a quick look at the comparison table to help you quickly assess the differences between the two brokers:
| Feature | Exness | HFM (HotForex) |
|---|---|---|
| Founded | 2008 | 2010 |
| Regulation | FCA, CySEC, FSCA, FSA, CBCS | FSC, FSCA, CySEC, DFSA, FCA |
| Account Types | Standard, Pro, Zero, Raw Spread | Micro, Premium, Zero Spread, Auto |
| Minimum Deposit | $1 (Standard Account) | $5 (Micro Account) |
| Leverage | Up to 1:2000 | Up to 1:1000 |
| Trading Platforms | MT4, MT5, WebTrader | MT4, MT5, HF App |
| Spreads | From 0.1 pips (Pro Account) | From 0 pips (Zero Spread Account) |
| Commission Fees | None (Standard Account), Commission on Raw Spread | Zero Spread Account (low commission), others are commission-free |
| Available Instruments | Forex, commodities, cryptocurrencies, indices | Forex, commodities, cryptocurrencies, indices |
| Number of Currency Pairs | 120+ | 50+ |
| Customer Support | 24/7, multiple languages | 24/5, multiple languages |
| Mobile Trading | Yes (MT4/MT5 apps, WebTrader) | Yes (HF App) |
| Deposit Methods | Credit/debit cards, e-wallets, bank transfers | Credit/debit cards, e-wallets, bank transfers |
| Withdrawal Speed | Instant for most methods | Same day for most methods |
Exness Overview
Exness is a well-known broker that has been operating since 2008. The company is regulated by top-tier authorities, such as the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Exness caters to both retail and institutional clients, offering various trading instruments including forex, commodities, cryptocurrencies, and indices.
Key Features:
- Regulation: FCA, CySEC
- Account Types: Standard, Pro, Zero, and Raw Spread
- Minimum Deposit: $1 for Standard accounts
- Leverage: Up to 1:2000 for retail clients
- Trading Platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5)
- Customer Support: 24/7, multiple languages
HFM (HotForex) Overview
HFM, previously known as HotForex, is another reputable broker with a global presence. It was founded in 2010 and has since grown to serve millions of clients around the world. HFM is regulated by multiple financial authorities, including the Financial Services Commission (FSC) of Mauritius and the Financial Sector Conduct Authority (FSCA) of South Africa.
Key Features:
- Regulation: FSC, FSCA, CySEC
- Account Types: Micro, Premium, Zero Spread, and Auto
- Minimum Deposit: $5 for Micro accounts
- Leverage: Up to 1:1000 for retail clients
- Trading Platforms: MT4, MT5, HF App
- Customer Support: 24/5, multiple languages
Account Types and Minimum Deposit
One of the most important factors to consider when choosing between Exness vs HFM is the account types and minimum deposits they offer.
- Exness provides a variety of account options, with a minimum deposit as low as $1 for Standard accounts. This makes it an excellent choice for beginners or those looking to trade with smaller amounts.
- HFM, on the other hand, offers its Micro account with a minimum deposit of $5, which is still quite low but slightly higher than Exness. This makes HFM a competitive option for beginner traders as well.
Leverage
Leverage can significantly impact your trading experience. Here’s how Exness and HFM differ in this aspect:
- Exness offers one of the highest leverage rates in the industry, up to 1:2000. This can be a huge advantage for experienced traders who want to maximize their capital.
- HFM offers leverage up to 1:1000, which is still quite generous but not as high as Exness. However, it may appeal to traders who want high leverage without taking on too much risk.
Trading Platforms
Both brokers offer industry-standard trading platforms, but there are some differences worth noting:
- Exness provides MetaTrader 4 and MetaTrader 5, both popular platforms known for their advanced charting tools, automated trading features, and user-friendly interfaces. Exness also has its proprietary WebTrader for more flexibility.
- HFM offers MT4 and MT5 as well but also has its own HF App, which allows users to trade on the go. This mobile app is particularly useful for traders who prefer a seamless mobile trading experience.
Trading Instruments
Both Exness and HFM offer a wide range of trading instruments, including forex, commodities, indices, and cryptocurrencies. However, the selection and spreads may differ between the two.
- Exness: The broker offers access to more than 120 currency pairs, as well as metals, energies, and cryptocurrencies. Spreads are competitive, especially on Pro and Raw Spread accounts, where they can be as low as 0 pips.
- HFM: HFM also offers a broad selection of trading instruments, including over 50 currency pairs, commodities, and cryptocurrencies. The broker is known for its low spreads, especially on its Zero Spread account, which can make it appealing to cost-conscious traders.
Fees and Spreads
Understanding the cost of trading is crucial when comparing brokers. Here’s how Exness and HFM differ in terms of fees and spreads:
- Exness offers competitive spreads, especially on its Pro and Raw Spread accounts. The Raw Spread account features near-zero spreads but comes with a small commission fee per trade.
- HFM is known for its low-cost trading environment. The Zero Spread account offers spreads starting from 0 pips, but traders are charged a commission. Other accounts have variable spreads, which are still relatively tight.
Regulation and Security
Both brokers are regulated by reputable financial authorities, which is an important aspect when considering the safety of your funds.
- Exness is regulated by multiple authorities, including FCA and CySEC. This provides a strong layer of security and transparency, especially for European clients.
- HFM is also well-regulated by authorities such as the FSC, FSCA, and CySEC, which ensures that client’s funds are safe and that the broker adheres to strict industry standards.
Customer Support
Reliable customer support is vital for resolving any issues that might arise during trading.
- Exness offers 24/7 customer support in multiple languages via live chat, phone, and email, making it accessible for traders around the world.
- HFM provides 24/5 support, which is available in multiple languages. While it’s not 24/7 like Exness, the support team is highly responsive during market hours.
Bottom Line
So, which broker is better—Exness or HFM? Ultimately, it depends on your specific trading needs.
- Choose Exness if: You are looking for ultra-high leverage, competitive spreads, and 24/7 customer support. It’s an excellent option for traders who want flexibility with a low minimum deposit.
- Choose HFM if: You value low-cost trading with tight spreads and commission-based accounts. HFM is a solid choice for those who prefer a mobile trading experience with the HF App and are looking for a broker with global reach and strong regulation.
Both brokers have their strengths, so the decision between Exness vs HFM depends on your trading goals and preferences.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.