FinecoBank vs HFM 2024

Fineco Bank is publicly traded and does operate a bank. Fineco Bank is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Fineco Bank is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by two Tier-1 regulators (Highly Trusted), Three tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). HotForex is authorised by the following Tier-1 regulator: Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system.

FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.

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.

To open a trading account with FinecoBank, you'll need to make an initial minimum deposit of $0.

HFM requires a minimum deposit of $0 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. FinecoBank offers Bank Wire (Deposit/Withdraw) for banking, whereas HFM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that HFM offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both FinecoBank and HFM hold 2 global Tier-1 licenses. HFM holds 3 global Tier-2 licenses, while FinecoBank holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FinecoBank (94) earned a higher Trust Score than HFM (86).

To compare the trading platforms of both FinecoBank and HFM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FinecoBank offers a better experience. With research, HFM offers superior market research. Finally, we found HFM to provide better mobile trading apps.

Here’s what trading platforms are available at FinecoBank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at HFM:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. HFM offers MetaTrader 4 (MT4), while FinecoBank does not. Forex traders also appreciate the ability to engage in social copy trading. While HFM offers copy trading, FinecoBank does not.

HFM provides traders 102 currency pairs (e.g., EUR/USD) compared to FinecoBank's 54 available pairs. If you are interested in trading a full range of securities, FinecoBank offers traders access to 9770 tradeable symbols, while HFM offers access to 500 tradeable symbols; so FinecoBank offers 9270 more tradeable symbols than HFM.

We found in our testing that FinecoBank offers a more diverse selection of investment options than HFM, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Int'l Stock Trading (Non CFD). Neither have Cryptocurrency (Physical) and Spread Betting.