If you are reading this article, you’re likely having trouble deciding whether Exness or HotForex is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Exness vs HotForex review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Exness vs HotForex - Verdict
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Headquarters | Cyprus | Cyprus |
Regulators | CMA, DFSA, FCA, FSA, FSC Mauritius, FSCA | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2010 | 2008 |
Execution Type(s) | ECN/STP, Market Maker | Market Maker |
Minimum Deposit | $0 | $10 (based on the account type) |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Proprietary platform |
Average Trading Cost EUR/USD | 1.3 pips | 0.6 pips |
Average Trading Cost GBP/USD | 1.9 pips | 0.7 pips |
Average Trading Cost WTI Crude Oil | $0.06 | 6.7 pips |
Average Trading Cost Gold | $0.27 | 11.3 pips |
Retail Loss Rate | N/A | Undisclosed |
Minimum Raw Spreads | N/A | 0.0 pips |
Minimum Standard Spreads | N/A | 0.3 pips |
Minimum Commission for Forex | N/A | $7.00 per 1.0 standard round lot |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website |
Features and Platforms
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MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
Traders at HotForex, numbering 2.5 million+, enjoy upgraded MT4/MT5 trading platforms, the Autochartist plugin, VPS hosting, and API trading. It also offers MAM accounts for account management and its proprietary copy trading service HFcopy. Beginner traders can benefit from quality research and education, while a generous bonus system also exists. Exness deploys the core MT4/MT5 trading platforms and supports algorithmic traders with VPS hosting. Besides the WebTV by Trading Central, Exness does not feature any value-added services. It focuses on the core trading environment, and the absence of trading tools is notable.
Available Markets
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Currency Pairs | N/A | |
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
The 57 currency pairs at HotForex are average, while Exness counters with 96, one of the best selections compared to all brokers. HotForex adds 13 commodities, eleven index CFDs, and three bond CFDs, all sub-standard. The bulk of assets are 1,005 equity CFDs, complemented by 34 ETFs. While Exness trumps HotForex with its excellent Forex exposure, the rest of the available markets consists of a 27 cryptocurrency pairs, 13 commodities, and 108 equity and index CFDs. HotForex does not offer any cryptocurrencies but maintains an overall better choice. Exness represents a superior choice for pure Forex traders.
Typical Spreads and Fees
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Average Trading Cost EUR/USD | 1.3 pips | 0.6 pips |
Average Trading Cost GBP/USD | 1.9 pips | 0.7 pips |
Average Trading Cost WTI Crude Oil | $0.06 | 6.7 pips |
Average Trading Cost Gold | $0.27 | 11.3 pips |
Average Trading Cost Bitcoin | $76 | 161.1 pips |
Minimum Raw Spreads | N/A | 0.0 pips |
Minimum Standard Spreads | N/A | 0.3 pips |
Minimum Commission for Forex | N/A | $7.00 per 1.0 standard round lot |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | N/A | No |
| Visit Website | Visit Website |
With a commission-free minimum mark-up of 1.3 pips or $13 per 1.0 standard lot, HotForex deploys an expensive pricing environment. The commission-based alternative shows a spread of 0.1 pips for a commission of $6, one of the lowest industry-wide, for total minimum trading costs of $7 per 1.0 lot. Exness offer minimum spreads of 0.1 pips in its Pro account, making it the best commission-free offer, and its Zero account has commissions that start on $0.3. Swap rates on leveraged overnight positions and third-party processing costs exist at both brokers, however Exness currently provides swap-free trading accounts to clients located in Islamic regions, and also they offer an swap-free trading on certain instruments to clients with Extended Swap-free status (by default applicable to all trading accounts created by clients in non-Islamic countries).
Security and Trust
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Country of the Regulator | United Arab Emirates, Kenya, Mauritius, Seychelles, United Kingdom, South Africa | Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, Curaçao |
Name of the Regulator | CMA, DFSA, FCA, FSA, FSC Mauritius, FSCA | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA |
Regulatory License Number | 801701, F004885, 46632, SD015, C110008214, 155 | SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162 |
Regulatory Tier | 1, 2, 2, 4, 4, 2 | N/A |
| Visit Website | Visit Website |
HotForex holds regulatory licenses in five jurisdictions. They consist of the UK FCA, the CySEC, the DFSA, the FSCA, and the FSA. It caters to most international traders from its unregulated business unit located in St. Vincent & the Grenadines. Exness serves retail traders from Exness (SC) Ltd. that is licensed by the FSA, Exness B.V that is licensed by the CBCS, Exness (VG) Ltd. that is licensed by the FSC, and Tadenex (KE) Ltd. that is licensed by the CMA. It also created Exness ZA (Pty) Ltd. that is licensed by the FSCA and Tortelo Ltd. that is licensed by the FSC. It maintains two units, Exness (CY) Ltd. that is licensed by CySEC, and Exness (UK) Ltd. that is licensed by the FCA for B2B purposes.
HotForex vs. Exness : Verdict
Beginner traders will benefit at HotForex, where quality research and education await. The upgraded MT4/MT5 trading platforms deliver traders an edge, and HotForex presents an average Forex selection within a balanced asset portfolio. The volume-based loyalty program allows high-volume traders to achieve competitive trading costs, and a bonus system is equally available.
Exness offers pure Forex traders a superior broker. With 96 currency pairs and its recently improved pricing environment, traders have access to commission-free spreads of 0.1 pips or commissions from $0.3 per 1.0 standard lots. The minimum deposit is $10 with maximum dynamic leverage of 1:2000 (up to unlimited under certain conditions), making it one of the best offers for scalpers.
VPS hosting further supports algorithmic trading together with the core MT4/MT5 trading platforms. Adding appeal to active traders is the excellent regulatory environment. While HotForex presents a more balanced brokerage, Exness matured into a prime destination for committed algorithmic Forex traders.
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