do you think exness is better than hfm in Kenya?
Okay in as much as I do not like Exness, I am going to have to pick Exness over HFM because with Exness the fees are lower.
I think fees are paramount to every trader and HFM have not been very transparent with their fees. They do not display average spreads instead they hide behind minimum spreads which can give room for manipulation.
For example Exness average EUR/USD spread on standard account is 0.9 pips but HFM says theirs is from 1.2 pips. This means that with HFM you never know what to expect in terms of spread.
Another reason I picked Exness is because HFM charges commissions on Crypto, Stocks, Indices even when you are trading with their Standard Account. I had thought stadard accounts were supposed to be commission-free?
Well, there you have it.
I would say both are just okay in terms of spreads on major fx pairs. All the 12 CMA licensed non-dealing forex brokers have moderate to high spreads.
For example (for all these 12 brokers), it is 0.8-1.6 pips on average for eurusd on standard account. And 0.6-1 pip on Pro account. I personally think this is expensive.
All regulated CFD brokers offer similar products, so pick the one with the lowest fees for the instrument you can want to trade.
If you are trading 100 lots on an average in a month (just for example), and Broker A charges you 0.3 pips in spreads on eurusd vs Broker B who charges you 0.7 pips, on this volume you are paying 400 USD more per month to Broker B.
All this adds up against your P&L overtime. I cannot stress this enough.
I've seen some so called traders on Youtube say that spreads at Exness are low (in order to promote their affiliate link), believe me, they are not. Exness is quite expensive. Not the most expensive, but it is still a lot.
If you are trading CFDs on indices or commodities with Exness, you will just get ripped off. Even their spreads on fx majors is not that decent.
Now you can compare it with other brokers.
Okay in as much as I do not like Exness, I am going to have to pick Exness over HFM because with Exness the fees are lower.
I think fees are paramount to every trader and HFM have not been very transparent with their fees. They do not display average spreads instead they hide behind minimum spreads which can give room for manipulation.
For example Exness average EUR/USD spread on standard account is 0.9 pips but HFM says theirs is from 1.2 pips. This means that with HFM you never know what to expect in terms of spread.
Another reason I picked Exness is because HFM charges commissions on Crypto, Stocks, Indices even when you are trading with their Standard Account. I had thought stadard accounts were supposed to be commission-free?
Well, there you have it.
For me, they are the same technically. Exness spreads may be lower but they are not as transparent as that of hfm.
Not much of a difference when it comes to pricing, but I prefer Exness because when i used hfm i noticed their trading software is prone to crashing/downtime
Both Exness & HFM are CMA regulated brokers offering the same 1:400 leverage and cent accounts for beginners. But when it comes to customer service & access to markets, HFM is better