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Plus500 vs HFM 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Plus500 and HFM? 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, Plus500 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 RatingPlus500HFMFOREX.com
Overall Rating8.2 / 107.6 / 108.7 / 10
Account TypePlus500HFMFOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoYesYes
Copy TradingPlus500HFMFOREX.com
Social Trading / Copy TradingNoYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyPlus500HFMFOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)Plus500HFMFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)Plus500HFMFOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsPlus500HFMFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingNoYesNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoYesYes
ETFYesYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsPlus500HFMFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)NoYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesYes
Regulatory LicensesPlus500HFMFOREX.com
Tier-1 Licenses414
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)NoNoYes
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)YesNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoYes
Tier-2 Licenses332
Tier-3 Licenses011
Research, EducationPlus500HFMFOREX.com
Trading Central (Recognia)NoNoYes
Forex News (Top-Tier Sources)NoYesYes
Daily Market CommentaryYesYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)NoNoYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)NoYesNo
Trading CostsPlus500HFMFOREX.com
Minimum Initial Depositโ‚ฌ100$5$100
Average Spread EUR/USD - Standard0.6 (as of Aug 2018)1.2 (August 2021)1.0 (July 2022)
All-in Cost EUR/USD - ActiveN/A0.9 (August 2021)1.0 (July 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsPlus500HFMFOREX.com
Watchlists - Total Fields9720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)11015203
Mobile Charting - Indicators / Studies1103088
Trust FactorsPlus500HFMFOREX.com
Year Founded200820101999
Publicly Traded (Listed)YesNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score988599
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Plus500 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 Plus500 vs HFM.

Can I trust Plus500?

Plus500 has a trust score of 98, 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 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 HFM?

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

Is Plus500 a good broker?

Plus500 is a highly-trusted broker offering a wide range of CFDs from within its user-friendly trading platforms. While its educational content and range of research trails category leaders, Plus500 is still a great choice for less demanding traders.

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. Plus500 is ASIC Authorised (Australia), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FCA Authorised (U.K.), while HFM is FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), 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, Plus500 is CySEC Authorised (Cyprus), ISA Authorised (Israel) 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), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses Plus500 is none, while HFM is FSC Authorised (Mauritius)., 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 Plus500 supports a Proprietary Platform, whereas HFM supports a Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does Plus500 offer MetaTrader? Does HFM offer MetaTrader?

For MetaTrader Plus500 provides neither of these, while HFM provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do Plus500 and HFM differ in terms of minimum deposit? What about average spreads and funding options?

Plus500 requires a minimum deposit of โ‚ฌ100, while HFM requires a minimum deposit of $5. From our testing we found Plus500 offers spreads of 0.6 (as of Aug 2018), while HFM offers spreads of 1.2 (August 2021). Plus500 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, Plus500 or HFM?

Plus500 offers a more diverse selection of investment options than HFM allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, Plus500 has 2800, compared to 3500 from HFM.

Can I trade cryptocurrency with Plus500 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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither Plus500 nor HFM allow you to trade physical cryptocurrencies.

Who offers more research tools, Plus500 or HFM?

In terms of research and research tools Plus500 gives traders the following tools: Daily Market Commentary and Stock Charts. In comparison HFM has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Trading Central (Recognia)

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