Errante vs HFM (HotForex) - 2023 Comparison | FX Australia
AuthorBy Björn Michels
Updated: August 29, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Australia, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

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Overall Rating
Min. Deposit
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.77/ 5 USD 50CySEC Regulated BrokersThe Seychelles Financial Services AuthorityECN/STPCommodities, Cryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals5014
  • Well regulated
  • Low minimum deposit
  • Innovative trading tools
  • Excellent education
  • Limited educational material
  • Limited platform choice
Read Review 1110.503.5/ 5 111003/ 5 11110.54.5/ 5 11110.54.5/ 5 1110.503.5/ 5 111104/ 5 111104/ 5 63.15%500:11.50 pips Premium, Standard, Tailor Made, VIP MT4, MT5Bank Transfer, Visa, Mastercard, Neteller, SticPay, CashU, Skrill, advcash, BitcoinFees Included in Spread
11110.54.43/ 5 USD 5CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthoritySTPBonds, Commodities, Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals, Stock DMAs5319
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
  • Limited base currencies
Read Review 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 72.90%1000:10 pips Auto, HFCopy, Islamic, Micro, Premium, Premium Pro, Zero MT4, MT5Bank Transfer, Visa, Mastercard, Skrill6 USD / lot - Zero Account

How do HFM (HotForex) and Errante stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.


HFM (HotForex)

At FX Australia, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare HFM (HotForex) and Errante, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does HFM (HotForex) or Errante have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that HFM (HotForex) holds one Tier 1 and two Tier 2 licences, and Errante holds no Tier 1 and one Tier 2 licences.


Can I trust HFM (HotForex)?

Yes as HFM (HotForex) was founded in 2010 and is regulated by CySEC, DFSA, FCA, FSC, FSCA and FSA-Seychelles.


Can I trust Errante?

Yes as Errante was founded in 2019 and is regulated by CySEC and FSA-Seychelles.


Based on these findings, HFM (HotForex) earned a higher trust rating than Errante.

Does HFM (HotForex) or Errante have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that HFM (HotForex) has overall lower trading costs than Errante. 

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Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
111003/ 5
1.50 pips
USD 15
1.50 pips
1.60 pips
1.50 pips
HFM (HotForex)
11110.54.5/ 5
1.00 pips
USD 10
0.10 pips
0.50 pips
0.30 pips


Does HFM (HotForex) or Errante offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, HFM (HotForex) offers support for MT4 and MT5 and Errante offers support for MT4 and MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Errante and HFM (HotForex) offer copy trading.

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Platform Choice
Copy Trading
11110.54.5/ 5


Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that HFM (HotForex) offers a greater range and depth of instruments to trade than Errante. HFM (HotForex) offers 53 Forex pairs to trade and Errante offers 50 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, HFM (HotForex) offers 19 cryptocurrencies while Errante offers 14 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with HFM (HotForex).

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither Errante nor HFM (HotForex) charges a withdrawal fee. Overall, HFM (HotForex) has better deposit and withdrawal processes than Errante. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

HFM (HotForex) has better educational support than Errante. HFM (HotForex) offer educational support for more experienced traders and Errante does not.

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Beginner Course
Advanced Course
Well Structured Education
Education Quality
HFM (HotForex)


Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that HFM (HotForex) offers better research analysis than Errante and that both Errante and HFM (HotForex) offer frequent webinars.

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Economic Calendar
Trading Central
Trading View
Free VPS
HFM (HotForex)


Our overall Verdict on HFM (HotForex)

HFM (formerly known as HotForex) is not ASIC-regulated. We recommend traders look at trading with Axitrader or Pepperstone instead.

HFM is a global CFD broker offering a relatively wide range of trading products including Forex, cryptocurrencies, commodities, indices, shares, bonds, and ETFs. Unusually for a large international broker, HFM does not hold an ASIC licence and Australian traders will be trading through the St Vincent and Grenadines licenced subsidiary.

The HFM Micro Account has lower trading costs than most other brokers’ entry-level accounts with a 5 USD minimum deposit, fast market execution and spreads starting at 1 pip on the EUR/USD. Experienced traders will be interested in HFM’s ZERO Spread Account, with EUR/USD spreads starting at 0.0 pips and a 6 USD commission.

HFM supports both the MT4 and MT5 platforms – but unlike most other brokers does not offer its own web-based platform – and has several excellent trading tools to assist traders further. Access to better trading tools like Autochartist, which other brokers offer as a free service, requires an account balance of 100 USD – well above the required minimum deposit.

HFM does not charge any withdrawal or deposit fees, allows hedging, scalping, and copy trading, and offers an excellent selection of educational and market analysis materials to get new traders started


Our overall Verdict on Errante

Regulated by CySEC and the Seychelles FSA, Errante caters to traders who prefer flexible trading conditions on the MT4 and MT5 platforms. However, traders should be aware that neither the minimum nor average spreads are published on its website. 

Errante offers trading on multiple assets, including cryptocurrencies, share CFDs, commodities, metals, indices, and over 50 Forex pairs, an average selection compared to other brokers. Support is offered for both the MT4 and MT5 platforms in addition to a copy trading platform, but Errante offers virtually no trading tools.

Errante's entry-level account offers comparatively poor trading conditions, with a minimum deposit of 50 USD, and EUR/USD spreads of 1.50 pips. Trading costs improve on the VIP and Tailor-made accounts, but this is in exchange for much higher minimum deposits.

Which broker has the highest overall rating?

HFM (HotForex) has an overall rating of 4.43 and Errante has an overall rating of 3.77. For more detail please read our reviews of HFM (HotForex) and Errante.

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