HFM vs TopFX 2024

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

HFM has a Trust Score of 86, giving it a "Trusted" Trust Score Label.

TopFX has a Trust Score of 67, giving it a "High Risk" Trust Score Label.

HFM is a trusted broker that offers an enhanced MetaTrader experience. Traders at HFM gain access to both MetaTrader 4 and MetaTrader 5 alongside third-party upgrades like Premium Trader Tools from FX Blue Labs and trading signals via the Autochartist plugin. HFM also offers its own proprietary copy trading platform, HFcopy, and a proprietary mobile trading platform, the HFM app. It's worth noting that you'll need to hold a Premium account with HFM to use the HFM app for trading.

TopFX offers the MetaTraderand cTrader platforms, along with a growing selection of tradeable markets. That said, this broker's lack of substantial regulatory licenses outside of Cyprus brings its Trust Score down. TopFX also lags behind the industry average when it comes to market research and education.

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. HFM holds regulatory licenses in the following Tier-1 jurisdictions: United Kingdom (U.K.) (FCA Authorised). TopFX, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: none. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

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 Cyprus (CySEC Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised), while TopFX is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses HFM is Mauritius (FSC Authorised), while TopFX is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised).

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that HFM offers a Proprietary Platform and Desktop Platform (Windows), whereas TopFX supports a Desktop Platform (Windows) and cTrader. Neither have DupliTrade and ZuluTrade

For MetaTrader HFM provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while TopFX provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

HFM requires a minimum deposit of $0, while TopFX requires a minimum deposit of Depends on payment method. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that HFM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas TopFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw)

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that HFM delivers a more diverse selection of investment options than TopFX, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; HFM offers 500, and TopFX offers a total of 655 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither HFM nor TopFX allow you to trade physical cryptocurrencies.

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. HFM delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. TopFX, on the other hand, provides the tools listed here: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading

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