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TD Ameritrade vs HFM 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between TD Ameritrade 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, TD Ameritrade 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 RatingTD AmeritradeHFMFOREX.com
Overall Rating8.9 / 107.6 / 108.7 / 10
Account TypeTD AmeritradeHFMFOREX.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 TradingTD AmeritradeHFMFOREX.com
Social Trading / Copy TradingNoYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyTD AmeritradeHFMFOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)NoYesYes
BitcoinYesYesYes
ethereumNoYesYes
Forex Trading (Spot or CFDs)TD AmeritradeHFMFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)TD AmeritradeHFMFOREX.com
DAXNoYesYes
Dow JonesNoYesYes
FTSENoYesYes
NASDAQ 100NoYesYes
NikkeiNoYesYes
SP 500NoYesYes
InvestmentsTD AmeritradeHFMFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingNoYesNo
MetalsNoYesYes
EnergiesNoYesYes
AgriculturalsNoYesYes
ETFNoYesYes
U.S. Stocks (CFD)NoYesYes
Trading PlatformsTD AmeritradeHFMFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesYes
Regulatory LicensesTD AmeritradeHFMFOREX.com
Tier-1 Licenses414
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoYes
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)YesNoNo
MAS Authorised (Singapore)YesNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)YesNoYes
Tier-2 Licenses032
Tier-3 Licenses011
Research, EducationTD AmeritradeHFMFOREX.com
Trading Central (Recognia)NoNoYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesNoYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesNo
Trading CostsTD AmeritradeHFMFOREX.com
Minimum Initial Deposit$0$5$100
Average Spread EUR/USD - Standard1.25 pips (September 2022)1.2 (August 2021)1.0 (July 2022)
All-in Cost EUR/USD - Active1.25 pips (September 2022)0.9 (August 2021)1.0 (July 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)NoYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsTD AmeritradeHFMFOREX.com
Watchlists - Total Fields564720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)36015203
Mobile Charting - Indicators / Studies3603088
Trust FactorsTD AmeritradeHFMFOREX.com
Year Founded195520101999
Publicly Traded (Listed)YesNoYes
BankYesNoNo
Authorised in European UnionYesYesYes
Trust Score998599
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TD Ameritrade 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 TD Ameritrade vs HFM.

Can I trust TD Ameritrade?

TD Ameritrade has a trust score of 99, 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 TD Ameritrade a good broker?

TD Ameritrade, part of financial conglomerate Charles Schwab, is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, TD Ameritrade's forex offering consists of just over 70 currency pairs, along with powerful research, trading tools, and comprehensive educational resources for investing.

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. TD Ameritrade is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA), while HFM is FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

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, TD Ameritrade is none, 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 TD Ameritrade 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 TD Ameritrade supports a Proprietary Platform and Desktop Platform (Windows), whereas HFM supports a Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does TD Ameritrade offer MetaTrader? Does HFM offer MetaTrader?

For MetaTrader TD Ameritrade 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 TD Ameritrade and HFM differ in terms of minimum deposit? What about average spreads and funding options?

TD Ameritrade requires a minimum deposit of $0, while HFM requires a minimum deposit of $5. From our testing we found TD Ameritrade offers spreads of 1.25 pips (September 2022), while HFM offers spreads of 1.2 (August 2021). TD Ameritrade supports Bank Wire (Deposit/Withdraw) for popular funding options, where HFM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, TD Ameritrade or HFM?

TD Ameritrade offers a more diverse selection of investment options than HFM allowing you to trade Forex Trading (Spot or CFDs)., neither have Spread Betting Looking at total tradeable symbols, TD Ameritrade has 0, compared to 3500 from HFM.

Can I trade cryptocurrency with TD Ameritrade 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 TD Ameritrade nor HFM allow you to trade physical cryptocurrencies.

Who offers more research tools, TD Ameritrade or HFM?

In terms of research and research tools TD Ameritrade gives traders the following tools: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). 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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