Deriv vs Exness vs HFM (2026): Which Forex Broker Has the Lowest Spreads?



1. Introduction

One of the most important costs in forex trading is the spread - the difference between the buy and sell price. Even small differences in spreads can significantly affect profitability, especially for scalpers, day traders, and active traders.

In this 2026 comparison, we review three popular forex brokers used globally: Deriv, Exness, and HFM (HotForex). The focus is on spreads, trading costs, execution quality, and which type of trader each broker is best suited for.

2. Quick Comparison

Broker Best For Typical EUR/USD Spread Account Types Regulation
Deriv Beginners & simplicity From ~0.5 pips STP / Synthetic Multiple jurisdictions
Exness Low spreads & scalping From 0.0 pips (Raw) Standard / Raw Tier-1 & global
HFM Balanced trading From 0.0 pips (Zero) Standard / Zero Multi-regulated

Note: Spreads vary depending on market conditions, account type, and volatility.

3. Understanding Spreads & Trading Costs

Brokers advertise low spreads, but traders should also consider:

  • Whether commissions are charged on zero or raw spread accounts
  • Execution speed and slippage
  • Stability during high-volatility periods

A broker with slightly higher spreads but better execution can sometimes be cheaper overall.

4. Deriv Review


Deriv is known for its beginner-friendly interface and flexible trading platforms. In addition to forex, Deriv also offers unique synthetic indices.

Pros

  • Simple platforms suitable for beginners
  • No commission on most standard forex accounts
  • Supports MT5 and proprietary platforms

Cons

  • Spreads widen during volatile sessions
  • Not ideal for high-frequency scalping

Best for: New traders and those who value simplicity over ultra-tight spreads.

  • and Kraken
  • Fewer advanced trading tools

Best for: Beginners, especially in the US, who want a safe and easy way to buy crypto.

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5. Exness Review


Exness is widely regarded as one of the lowest-spread brokers in the retail forex market, particularly on its Raw Spread account.

Pros

  • Raw spreads from 0.0 pips
  • High liquidity and fast execution
  • Transparent trading costs

Cons

  • Raw accounts include commissions
  • Advanced features may overwhelm beginners

Best for: Scalpers, day traders, and active traders who prioritize tight spreads.

6. HFM (HotForex) Review

HFM offers a balance between regulation, features, and competitive trading conditions. It is popular among intermediate traders.

Pros

  • Zero Spread account available
  • MT4 and MT5 platforms
  • Strong educational resources

Cons

  • Zero spread accounts include commissions
  • Standard spreads are average

Best for: Traders seeking regulation and flexibility without going fully ECN trading.

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7. Final Verdict

  • Exness – Best overall for lowest spreads and active trading
  • HFM – Balanced option with strong regulation
  • Deriv – Best for beginners and ease of use

The best forex broker depends on your trading style, frequency, and experience level. Always test brokers using a demo account before committing real capital.

8. Further Reading

Top Forex Brokers with Low Spreads

 How to Choose a Forex Broker (Beginner Guide)

How to open a Deriv account.

Disclaimer

This content is for educational purposes only and does not constitute financial advice. Forex and CFD trading involve significant risk and may not be suitable for all investors. Only trade with funds you can afford to lose.

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