Jan 03 2022 7
Starting out in the FOREX market can be a laborious experience for anyone, especially those who possess zero knowledge in trading. Thanks to many new concepts, tools, and platforms, trading in the foreign exchange can be radically different from regular stock trading. As such, it is essential to know where you’re standing at any given time and what to do in each situation. To help you see the context a lot clearer, we’ll compare Hotforex vs Exness.
Now, you may have been thrown for a loop there, right? That’s understandable since you just had two seemingly random names tossed at you.
Let us clear that up.
When you trade in the FOREX market, you don’t do so by yourself. You need the help of what’s called a “broker”. Brokers act as intermediaries in the industry. You give them the sum you wish to invest, and they perform the trades following your orders.
FOREX brokers give you all you need to trade, from charts to graphs showing current market trends to educational programs so you may know what you’re doing.
However, each broker is different and not every agency offers the same tools. That’s the reason we’ll compare HotForex vs Exness for you.
It’s common sense that the older the company, the easier it is to trust them. After all, they must be doing something right so that they could’ve lasted as long as they have.
Nevertheless, that isn’t always true. And, one must be careful if a decision is made to opt for one company based only on their age.
When we compare Hotforex with Exness, we find that the former is a bit younger. Created in 2008, Exness is a little more experienced.
However, to prove that age isn’t necessarily the only indicator, we have the fact that HotForex, in its eight years of activity, has been awarded several times for its services.
Among the awards, we can point out:
- The Bizz 2017 Peak Of Success, by the World Confederation of Businesses.
- Top 10 Global Companies, by World Finance Magazine.
- Best New FOREX Broker in South Africa 2016, by the Global Banking & Finance Review Awards.
- Best Customer Service 2015, by the European CEO Awards.
- Best Client Funds Protection Broker Award 2015, by Mena Dubai FX Show.
And those are just a few of the many awards listed on their website, among many others for best broker.
Check Exness company history here
When it comes to FOREX brokers, being regulated by legal entities is a great way to earn trust from investors.
If we compare Hotforex vs Exness here, we must give Exness an edge seeing their regulatory background.
Internet research will quickly show that Exness is regulated both by the CySEC and FCA. Additionally, as shown in their website, they are monitored by the following bodies:
- CONSOB, in Italy.
- Financial Services Authority, in Sweden.
- Comisión Nacional del Mercado de Valores, in Spain.
- The AFM, in the Netherlands.
- BaFin, in Germany.
However, finding HotForex regulators is much harder. Their website lists only their registration in St. Vincent & the Grenadine. Besides that, searching the internet one may also confirm that the company is regulated by the CySEC and is registered in the FCA.
Check Exness company history here
Check Hotforex company history here
Spreads are the difference between asking and bidding prices in any broker. They are also where brokers get their commissions from. If we compare Hotforex vs Exness using this as criteria, HotForex quickly takes the lead thanks to its famously low spreads. Exness offers some good spreads when compared with the average. For instance, its EUR/USD spread is of 1 pips while the norm is for 0.82; on the other hand, HotForex has a 0.9 pip. However, the real advantage is won by HotForex when we evaluate their variable and fixed spreads available depending on the chosen account.
Check Exness spread here
Check Hotforex spread here
When we chose to compare Hotforex vs Exness based on their leverage, this was also another winning point for Exness. While HotForex offers to leverage in the range of the 1:200-400, Exness has a unique 1:unlimited leverage. However, users must beware that the higher the leverage, the higher the risks. As such, traders ought to be careful whenever using leveraged transactions.
Check Exness leverage here
Check HotForex leverage now.
When it comes to the assets available for trading, HotForex takes a smooth edge when we compare Hotforex vs Exness.
Exness offers support for FOREX, majors, energies, and agricultural, giving a useful yet limited range of opportunities for business. Luckily, the instruments provided are enough for investors to make a substantial career.
However, they just can’t compete with HotForex’s ten different markets:
- US and UK stocks.
HotForex also has the advantage of being one of the few FOREX brokers to offer Bitcoin trading. All those options give investors a plethora of opportunities for profits that other brokers can only wish to provide.
Another criterion favouring HotForex is the number of accounts available on their platform.
Exness offers only a standard, Classic, Mini, Cent, and ECN account. From said accounts, the minimum deposit is of 1 USD, and all provide the unlimited leverage we mentioned earlier.
While they offer a solid base for a wide range of traders with different capabilities, they pale when we compare Hotforex vs Exness using accounts as criteria.
HotForex posses a total of 8 real accounts, each suited for a different type of trader. From micro accounts, with minimum deposits of 5 USD suited for small or beginner traders, to VIP accounts, with a minimum deposit of 20,000 USD for big businesses and expert traders, HotForex brings enough options to suit the entire industry.
Check Exness account here
Check Hotforex account here
For this category, there is no way HotForex withdrawal system can compete with Exness withdrawal system. Exness has a fully automated system that can process orders in the matters of seconds. So, Exness win this round.