Written by ForexBrokers.com
In this head to head comparison of eToro vs HFM, 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.
eToro, established in 2007, and HFM, founded in 2010, are both notable brokers in the online trading space. Neither eToro nor HFM is publicly traded or operates as a bank. In terms of regulatory trust, eToro shines with a Trust Score of 93 out of 99 according to ForexBrokers.com, indicating it is highly trusted. This is supported by eToro's possession of three Tier-1 licenses, the most reliable form of licensing.
Meanwhile, HFM holds a solid position with a Trust Score of 86, denoting it as a trusted option. HFM holds two Tier-1 licenses and three Tier-2 licenses, which underscore its credibility in the industry. While both platforms offer dependable services, eToro edges out slightly ahead in trust ratings and the number of top-tier licenses.
| Feature |
eToro
|
HFM
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When evaluating commissions and fees, eToro stands out as a market-maker broker with a typical variable spread of 1 pip on the EUR/USD. Although this is slightly above the industry average, eToro attracts retail traders primarily due to its social copy trading platform. The broker offers a VIP club known as the eToro Club, which features five tiers from Silver to Diamond for account balances ranging from $5,000 to $250,000. These tiers provide benefits like access to Trading Central, lower withdrawal and deposit fees, and a dedicated account manager. eToro is rated 4.5 stars for commissions and fees and ranks #22 out of 62 brokers according to ForexBrokers.com.
On the other hand, HFM presents trading costs slightly above the industry norm. For its standard trading accounts, a typical spread of 1.2 pips is mentioned, but the absence of a date range might imply a varying average. The HFM Zero account offers an effective spread of 0.7 pips after commissions, although this too is not an average. With a 4-star rating for commissions and fees, HFM is ranked #31 out of 62 brokers by ForexBrokers.com.
| Feature |
eToro
|
HFM
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 |
| Average Spread EUR/USD - Standard | 1 | 1.2 |
| All-in Cost EUR/USD - Active | N/A | 0.7 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
eToro and HFM both provide online trading experiences but differ significantly in the range of available investments. eToro stands out with its impressive offering of 5,461 tradeable symbols, allowing investors to access a vast array of markets. This includes not only 55 forex pairs but also the option to buy real exchange-traded securities on both U.S. and international exchanges, such as shares in Apple and Vodafone. Additionally, eToro supports crypto enthusiasts by enabling the purchase of actual cryptocurrencies as well as cryptocurrency derivatives. Its top-notch range of investments is reflected in a 5-star rating and a #10 rank by ForexBrokers.com for its category.
In contrast, HFM offers a more streamlined selection with 500 tradeable symbols, including 102 forex pairs. While it matches eToro’s capability for forex CFD and spot trading as well as cryptocurrency derivative trading, it lacks the option to buy actual cryptocurrencies or exchange-traded securities on U.S. and international exchanges. HFM does provide copy trading, similar to eToro, and garners a respectable 4-star rating for its range of investments, ranking #36 in the same category. This makes HFM a solid choice for those focused on forex and derivative trading, though it may fall short for investors seeking the broad flexibility found with eToro.
| Feature |
eToro
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 500 |
| Forex Pairs (Total) | 55 | 102 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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.
eToro and HFM both offer solid trading experiences with distinct platforms and tools. eToro provides a web-based trading platform that is user-friendly, allowing for easy navigation and a comprehensive set of features including simulated trading through a virtual demo account. Known for its unique social and copy trading features, eToro lets users mirror the trades of successful investors seamlessly. While it boasts a proprietary platform, eToro lacks support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5), limiting its appeal for those who favor these tools. Nevertheless, it excels in offering a wide array of 161 drawing tools for charting, broadening analytical capabilities for traders. eToro's platform limitations become apparent with no option to trade directly from a stock chart, yet its strengths have earned it a 4.5-star rating and an impressive #8 ranking among 62 brokers in the Trading Platforms and Tools category on ForexBrokers.com.
On the other hand, HFM provides a mix of flexibility and diversity with a proprietary platform and support for both MT4 and MT5. This makes it appealing to traders who prefer desktop trading, as HFM offers a Windows-based download option. The availability of these popular platforms extends its versatility, making it a strong contender for traders who rely on advanced features and custom indicators that MetaTrader programs support. HFM also offers a web-based platform, a free virtual demo account, and supports copy trading, ensuring accessibility and varied trading strategies. Though it offers fewer drawing tools (30) compared to eToro, HFM allows direct trading from stock charts, adding an element of convenience. Rated 4 stars, HFM holds the #41 spot in ForexBrokers.com's ranking, making it a dependable choice for traders seeking a platform that combines proprietary options with industry-standard tools.
| Feature |
eToro
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 15 |
| Charting - Drawing Tools (Total) | 161 | 30 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
eToro and HFM both provide mobile trading apps compatible with iPhone and Android devices, making them accessible to a broad range of users. Both platforms stand out by offering stock and forex price alerts to keep traders informed. However, eToro has an edge with its ability to sync watchlist symbols between the mobile app and the client's online account, an essential feature HFM lacks. Within the realm of technical analysis on mobile, eToro offers an impressive 104 technical studies for charting, compared to HFM's 30, giving eToro users more tools for detailed market analysis.
When it comes to usability features, HFM allows users to draw trendlines and auto-save chart drawings, which could be a plus for technical traders who rely on graphical analysis. While both apps support viewing multiple time frames and allow the creation of watchlists with real-time quotes, eToro's mobile app outshines HFM's with a 4.5-star rating and a higher ranking by ForexBrokers.com. eToro is placed 11th out of 62 brokers, while HFM is ranked 39th, highlighting eToro’s superior satisfaction and performance in mobile trading functionality.
| Feature |
eToro
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
eToro and HFM both provide daily market commentary, ensuring that traders have consistent access to the latest insights. However, HFM takes the lead in delivering forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, while eToro does not offer such. When it comes to analytical tools, HFM empowers its users with resources from Autochartist, although eToro compensates with tools from Trading Central. Furthermore, both platforms include sentiment-based trading tools to help users understand market trends, enhanced with economic calendars displaying global news events.
In terms of market research, eToro distinguishes itself by offering resources from TipRanks, a feature not available with HFM. Neither broker provides tools from Acuity Trading. When evaluated by ForexBrokers.com, eToro comes out ahead, receiving a 4.5-star rating compared to HFM's 4-star rating. This places eToro at #13 out of 62 brokers for research capability, above HFM's #20 rank. These differences underscore each platform's unique strengths, with eToro focusing more on sentiment and third-party analyses, while HFM excels in providing news from top-tier sources and comprehensive technical tools.
| Feature |
eToro
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources tailored for beginners, both eToro and HFM present extensive options. eToro stands out with a rich collection of educational materials specifically covering forex and CFDs, including more than 10 articles, videos, and archived webinars, designed to cater to novice traders’ needs. They offer engaging monthly educational webinars that help individuals delve deeper into trading concepts and strategies. Plus, eToro provides a searchable archive of these past webinars, making learning accessible at any time. Notably, eToro supplies over 10 beginner-focused videos, presenting complex trading topics in an easy-to-understand manner. Advanced traders aren't left out either, with a suite of advanced educational videos at their disposal. An investor dictionary featuring definitions of over 50 investing terms bolsters the learning experience, making unfamiliar terms easily understandable for new investors.
HFM, on the other hand, offers a comprehensive suite of educational resources that mirror much of what eToro offers, including a variety of educational materials along with webinars that engage clients throughout the month. Like eToro, they provide a searchable archive for past webinars and a collection of over 10 videos aimed specifically at beginner traders, easing the entry into trading. Advanced educational content is available to support traders as they grow in their expertise. Additionally, HFM also provides a detailed investor dictionary to help newcomers grasp essential terminology quickly. According to ratings, eToro slightly edges out HFM with a 4.5-star rating for its educational offerings, ranking 5th among 62 brokers, while HFM, with a 4-star rating, holds the 37th position. This suggests that both platforms present valuable educational experiences, with eToro gaining a slight advantage in recognition for its offerings.
| Feature |
eToro
|
HFM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 eToro is better than HFM. eToro finished with an overall rank of #9, while HFM finished with an overall rank of #30.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 86 |
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eToro allows users to buy both actual delivered cryptocurrencies and cryptocurrency derivatives, while HFM only provides options for purchasing cryptocurrency derivatives.
eToro provides a variety of options for depositing and withdrawing funds, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, whereas HFM supports Skrill, Visa or Mastercard, and bank wires, but lacks compatibility with ACH or SEPA transfers and PayPal, offering users a more limited range of transaction methods.
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 | eToro | HFM | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | eToro Review | HFM Review |
| Broker Screenshots | eToro | HFM | |
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| Regulation | eToro | HFM | |
|---|---|---|---|
| Trust Score | 93 | 86 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | eToro | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | eToro | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 500 | |
| Forex Pairs (Total) | 55 | 102 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | eToro | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | HFM | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | eToro | HFM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 15 | |
| Charting - Drawing Tools (Total) | 161 | 30 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | HFM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | HFM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | eToro | HFM | |
|---|---|---|---|
| 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 | eToro Review | HFM Review |
| Overall | eToro | HFM | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | eToro Review | HFM Review |
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