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FxPro vs HFM 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FxPro and HFM? We’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, FxPro ranks more highly than HFM.

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 RatingFxProHFMXTB
Overall Rating8.1 / 107.7 / 109 / 10
Account TypeFxProHFMXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingFxProHFMXTB
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyFxProHFMXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)FxProHFMXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)FxProHFMXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFxProHFMXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFNoYesNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFxProHFMXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesFxProHFMXTB
Tier-1 Licenses111
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses233
Tier-3 Licenses111
Research, EducationFxProHFMXTB
Trading Central (Recognia)YesNoNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesNoNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsFxProHFMXTB
Minimum Initial Deposit$100$5$0
Average Spread EUR/USD - Standard1.51 (August 2020)1.2 (August 2021)1.07 (Q3 2022)
All-in Cost EUR/USD - Active1.27 (August 2020)0.9 (August 2021)1.04 (Q3 2022)
Active Trader or VIP DiscountsYesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsFxProHFMXTB
Watchlists - Total Fields1978
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)761539
Mobile Charting - Indicators / Studies653039
Trust FactorsFxProHFMXTB
Year Founded200620102002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score908595
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FxPro vs HFM 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 FxPro vs HFM.

Can I trust FxPro?

FxPro has a trust score of 90, giving it a "Highly 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 – in most cases – 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 “Do Not Trust” rating.

Can I trust HFM?

HFM has a trust score of 85, giving it a "Trusted" trust label.

Is FxPro a good broker?

FxPro is a trusted brand that provides numerous platforms, execution methods, and pricing options. FxPro caters well to algorithmic traders on its cTrader and MetaTrader platform offerings – despite having spreads and overall costs that trail industry leaders. FxPro has also steadily developed its FxPro Edge and BnkPro apps, as part of its proprietary platform suite.

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).

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. both FxPro and HFM are FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), 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, FxPro is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa), while HFM is CySEC Authorised (Cyprus), FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses FxPro is SCB Authorised (Bahamas), while HFM is FSC Authorised (Mauritius)., neither have 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 FxPro supports a Proprietary Platform, Desktop Platform (Windows) and cTrader, whereas HFM supports a Desktop Platform (Windows)., neither have DupliTrade and ZuluTrade

Does FxPro offer MetaTrader? Does HFM offer MetaTrader?

Both FxPro and HFM offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

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

FxPro requires a minimum deposit of $100, while HFM requires a minimum deposit of $5. From our testing we found FxPro offers spreads of 1.51 (August 2020), while HFM offers spreads of 1.2 (August 2021). FxPro supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where HFM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FxPro or HFM?

FxPro offers a more diverse selection of investment options than HFM allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD). Looking at total tradeable symbols, FxPro has 2249, compared to 3500 from HFM.

Can I trade cryptocurrency with FxPro or HFM?

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 — including spot forex contracts. In terms of trading physical cryptocurrency neither FxPro nor HFM allow you to trade physical cryptocurrencies.

Who offers more research tools, FxPro or HFM?

In terms of research and research tools FxPro gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison HFM has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

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