Written by ForexBrokers.com
In this head to head comparison of HFM vs Eightcap, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% 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.
HFM and Eightcap are two online brokers with a solid foundation in the trading world, having been founded in 2010 and 2009, respectively. Neither company is publicly traded nor operates as a bank. When it comes to trust and regulation, HFM holds two Tier-1 licenses and three Tier-2 licenses, earning it a Trust Score of 86 out of 99 from ForexBrokers.com. This score categorizes HFM as a trusted broker in the industry.
Eightcap, on the other hand, boasts three Tier-1 licenses but lacks Tier-2 licenses, giving it a Trust Score of 85 out of 99 according to ForexBrokers.com. While slightly lower than HFM's, this score still places Eightcap within the trusted range. Both brokers offer a level of security and reliability conducive to their roles in the financial market, though their regulatory differences might appeal to different trading preferences.
| Feature |
HFM
|
Eightcap
|
|---|---|---|
| Year Founded | 2010 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing the commissions and fees of HFM and Eightcap, both brokers offer competitive options, though they vary slightly in cost and structure. HFM, rated 4 stars out of 5, has trading costs that hover above the industry average. For their standard trading accounts, the typical spread is 1.2 pips. Meanwhile, their Zero account provides an effective spread of 0.7 pips after commissions, though it's important to note that these figures are not averages and may vary based on market conditions. HFM ranks 31st out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
Eightcap, also rated 4 stars, offers two account types: the commission-based Raw account and the spread-only Standard account. For the Raw account, the advertised average spread is as low as 0.06 pips. However, when considering the per-side commission of $3.50 per trade, the total cost aligns closer to 0.76 pips, which is slightly below the industry average. Despite this, Eightcap is considered slightly more expensive compared to the lowest-cost forex brokers. Eightcap ranks higher at 26th out of 62 brokers for commissions and fees according to ForexBrokers.com.
| Feature |
HFM
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | 1.0 |
| All-in Cost EUR/USD - Active | 0.7 | 0.76 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing HFM and Eightcap for their range of investment options, both brokers offer forex trading through CFDs or spot contracts. However, HFM provides a slightly broader selection, featuring 500 tradeable symbols and 102 forex pairs, compared to Eightcap's 736 tradeable symbols and 56 forex pairs. Neither broker offers exchange-traded securities on U.S. or international exchanges, meaning clients cannot purchase companies like Apple or Vodafone directly. On the upside, both platforms support copy trading, allowing users to mimic successful traders' strategies.
In terms of cryptocurrency, neither HFM nor Eightcap permits the purchase of actual cryptocurrencies but offers derivatives trading instead. HFM garners a higher rating of 4 stars for its range of investments compared to Eightcap's 3.5 stars. Additionally, HFM ranks 36th out of 62 brokers on ForexBrokers.com for its investment offerings, while Eightcap is slightly lower, ranked at the 40th position. This suggests that HFM may be a better choice for those seeking a wider variety of forex pairs and overall investment options.
| Feature |
HFM
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 736 |
| Forex Pairs (Total) | 102 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Both HFM and Eightcap provide traders with useful tools and platforms, making them suitable choices for online trading. Both brokers offer simulated trading options through free virtual demo accounts, enabling users to practice strategies without risking real money. HFM distinguishes itself by providing a proprietary platform developed in-house, while Eightcap does not offer one of its own. However, both brokers do provide MetaTrader 4 and MetaTrader 5, popular platforms known for their user-friendly interfaces and powerful capabilities. Additionally, each offers Windows-based desktop and web-based platforms, enhancing accessibility for all types of traders.
Copy trading is available with both HFM and Eightcap, yet neither offers DupliTrade or ZuluTrade. When it comes to charting tools, HFM provides 30 drawing tools compared to Eightcap's 15, allowing for more detailed analysis directly from stock charts. Both brokers feature watch lists with seven columns each. Despite offering a solid lineup of platforms and tools, HFM and Eightcap both received a rating of four stars for their trading platforms and tools. In ForexBrokers.com's ranking, Eightcap holds a slightly better position at #38 compared to HFM's #42 out of 62 brokers in this category.
| Feature |
HFM
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing a mobile trading app, both HFM and Eightcap are solid options, available for both iPhone and Android users. They offer essential features like stock and forex price alerts, the ability to draw trendlines, and the option to view multiple time frames on stock or forex charts. Both apps include 30 technical studies, auto-save for chart drawings, and the option to create watchlists with real-time quotes. However, a key distinction is Eightcap's advantage in watchlist symbol syncing, which allows seamless updates between the mobile app and online account, a feature not available with HFM.
In terms of user ratings, both HFM and Eightcap receive 4 out of 5 stars for their mobile trading apps. When ranked among 62 brokers by ForexBrokers.com, Eightcap slightly edges out HFM, securing the 38th spot while HFM ranks 39th. This makes both brokers competitive in the mobile trading space, though Eightcap's slight edge in rankings and syncing capabilities might appeal more to traders who value flexibility and integration across their devices.
| Feature |
HFM
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
HFM and Eightcap both excel in offering daily market commentary to their users, helping them stay informed with the latest market trends. However, HFM sets itself apart by providing forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, a feature that Eightcap lacks. When it comes to technical analysis, HFM gives traders access to tools from the renowned company Autochartist, whereas Eightcap does not offer such resources. Despite neither broker providing market research from Trading Central or TipRanks, both offer a sentiment-based trading tool to give insights into market positions across various instruments.
For traders reliant on an economic calendar, both HFM and Eightcap include this feature, showcasing current and upcoming global news events impacting economies worldwide. HFM edges ahead in overall research rating with a commendable four stars, compared to Eightcap's 3.5 stars, which reflects in their respective rankings; HFM holds the 20th position among 62 brokers, while Eightcap ranks 39th according to ForexBrokers.com. These distinctions highlight HFM's slightly stronger market research offerings, which could cater better to those seeking comprehensive insights and tools.
| Feature |
HFM
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners between online brokers HFM and Eightcap, there are a few key differences. Both brokers provide a comprehensive collection of over ten educational pieces focusing on forex and CFDs, including articles and videos. Moreover, they both maintain a searchable archive of previously recorded webinars, adding more depth to their offerings. However, HFM edges ahead by offering monthly online educational webinars, a feature that Eightcap does not provide. Additionally, strong support is shown early on, with both offering at least ten beginner trading videos, yet HFM continues to support seasoned traders through more advanced educational videos aimed at experienced traders—a component missing from Eightcap's resources. Both platforms provide a dictionary with definitions of at least 50 investing terms, which assists in clarifying terminology for new traders.
When it comes to ratings, HFM scores 4 out of 5 stars for its education offerings, slightly higher than Eightcap's 3.5 stars. According to ForexBrokers.com, in the Education category, HFM ranks 37th out of 62 brokers, while Eightcap ranks slightly lower at 40th. Overall, while both brokers offer a solid foundation for beginners, HFM tends to provide a more comprehensive educational experience, particularly for traders who wish to advance their skills with higher-level resources and regular webinars.
| Feature |
HFM
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that HFM is better than Eightcap. HFM finished with an overall rank of #30, while Eightcap finished with an overall rank of #38.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 85 |
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Neither HFM nor Eightcap provides the option to purchase actual delivered cryptocurrency, but both platforms offer the ability to trade cryptocurrency derivatives.
Both HFM and Eightcap do not support ACH or SEPA transfers for depositing or withdrawing funds, but while HFM lacks PayPal support, Eightcap provides this option; both brokers, however, offer account funding and withdrawal via Skrill, Visa, Mastercard, and bank wires.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | HFM | Eightcap | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | HFM Review | Eightcap Review |
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| Regulation | HFM | Eightcap | |
|---|---|---|---|
| Trust Score | 86 | 85 | |
| Year Founded | 2010 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | HFM | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 736 | |
| Forex Pairs (Total) | 102 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | HFM | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.76 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HFM | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | HFM | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HFM | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HFM | Eightcap | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | HFM Review | Eightcap Review |
| Overall | HFM | Eightcap | |
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| Trust Score | 86 | 85 | |
| Winner | check_circle | ||
| Review | HFM Review | Eightcap Review |
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