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HFM vs BlackBull Markets 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between HFM and BlackBull Markets? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, HFM ranks more highly than BlackBull Markets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingHFMBlackBull MarketsXTB
Overall Rating7.6 / 107 / 108.7 / 10
Account TypeHFMBlackBull MarketsXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingHFMBlackBull MarketsXTB
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeNoYesNo
CryptocurrencyHFMBlackBull MarketsXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesNoYes
ethereumYesNoYes
Forex Trading (Spot or CFDs)HFMBlackBull MarketsXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)HFMBlackBull MarketsXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsHFMBlackBull MarketsXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFYesNoNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsHFMBlackBull MarketsXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesHFMBlackBull MarketsXTB
Tier-1 Licenses111
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses303
Tier-3 Licenses101
Research, EducationHFMBlackBull MarketsXTB
Trading Central (Recognia)NoNoNo
Forex News (Top-Tier Sources)YesNoYes
Daily Market CommentaryYesYesYes
AutochartistYesYesNo
Investor Dictionary (Glossary)NoYesNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsHFMBlackBull MarketsXTB
Minimum Initial Deposit$5$0$0
Average Spread EUR/USD - Standard1.2 (August 2021)0.827 (August 2022)1.07 (Q3 2022)
All-in Cost EUR/USD - Active0.9 (August 2021)0.827 (August 2022)1.04 (Q3 2022)
Active Trader or VIP DiscountsNoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsHFMBlackBull MarketsXTB
Watchlists - Total Fields778
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)153039
Mobile Charting - Indicators / Studies303039
Trust FactorsHFMBlackBull MarketsXTB
Year Founded201020142002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesNoYes
Trust Score857495
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HFM vs BlackBull Markets Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare HFM vs BlackBull Markets.

Can I trust HFM?

HFM has a trust score of 85, giving it a "Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust BlackBull Markets?

BlackBull Markets has a trust score of 74, giving it a "Average Risk" trust label.

Is HFM a good broker?

HFM, previously known as HotForex, is a trusted brand that primarily offers the MetaTrader platform suite. HFM also features its own in-house copy trading platform, HFcopy, as well as a proprietary mobile platform called the HF app (though it can't yet be used for actual trading).

Is BlackBull Markets a good broker?

BlackBull Markets is an up and coming MetaTrader broker that offers share trading, CFDs, as well as a growing range of markets from its brands regulated in New Zealand and the Seychelles. However, BlackBull Markets' thin educational materials and sparse market research put it behind the best forex brokers in those categories.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. HFM is FCA Authorised (U.K.), while BlackBull Markets is FMA Authorised (New Zealand)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, HFM is CySEC Authorised (Cyprus), FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE), while BlackBull Markets is none., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses HFM is FSC Authorised (Mauritius), while BlackBull Markets is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms HFM supports a Desktop Platform (Windows), whereas BlackBull Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade., neither have Proprietary Platform and DupliTrade

Does HFM offer MetaTrader? Does BlackBull Markets offer MetaTrader?

Both HFM and BlackBull Markets offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If youโ€™re new to MetaTrader 4 hereโ€™s our educational guide on how to use MT4.

How do HFM and BlackBull Markets differ in terms of minimum deposit? What about average spreads and funding options?

HFM requires a minimum deposit of $5, while BlackBull Markets requires a minimum deposit of $0. From our testing we found HFM offers spreads of 1.2 (August 2021), while BlackBull Markets offers spreads of 0.827 (August 2022). Both HFM and BlackBull Markets offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, HFM or BlackBull Markets?

HFM offers a more diverse selection of investment options than BlackBull Markets allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, HFM has 3500, compared to 26000 from BlackBull Markets.

Can I trade cryptocurrency with HFM or BlackBull Markets?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither HFM nor BlackBull Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, HFM or BlackBull Markets?

In terms of research and research tools HFM gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison BlackBull Markets has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading., neither have Trading Central (Recognia)

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