Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
When comparing FP Markets and HFM, both online brokers are not publicly traded and do not operate as banks. Founded in 2005, FP Markets holds a Trust Score rating of 89 as per ForexBrokers.com, placing it in the 'trusted' category. In terms of regulatory backing, FP Markets boasts two Tier-1 licenses and one Tier-2 license, indicating a solid foundation of trust and reliability in the financial market. Meanwhile, HFM, established in 2010, possesses a slightly lower Trust Score of 86, which still falls within the 'trusted' range. HFM is backed by three Tier-2 licenses, complementing its two Tier-1 licenses, demonstrating a respectable level of trust from global financial authorities.
| Feature |
FP Markets
|
HFM
|
|---|---|---|
| Year Founded | 2005 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing FP Markets and HFM on commissions and fees, FP Markets stands out as a top choice for traders seeking cost-effective options. Recognized with a 5-star rating and ranked #6 out of 62 brokers by ForexBrokers.com, FP Markets offers highly competitive pricing through its MetaTrader and cTrader platforms. The Raw ECN account at FP Markets is particularly attractive, offering tight spreads averaging 0.1 pips, making it a powerful choice for cost-conscious traders. Meanwhile, the Standard account offers higher spreads at 1.1 pips for the EUR/USD pair as of October 2023. FP Markets also provides diverse account options through its Iress platform, although fees can add up for those not meeting certain account requirements.
In contrast, HFM is rated 4 stars and holds the #31 position out of 62 brokers. Trading costs at HFM are slightly above the industry average, with standard account spreads typically around 1.2 pips. For those seeking lower spreads, the HFM Zero account provides an effective spread of 0.7 pips after commission. However, as specific dates for their average spreads aren't provided, traders might face variable conditions compared to FP Markets' more transparent pricing.
Overall, FP Markets leads in affordability and flexible account offerings, especially for traders interested in commission-based ECN accounts, making it a favorable choice over HFM for those who prioritize pricing and fee transparency in their trading experience.
| Feature |
FP Markets
|
HFM
|
|---|---|---|
| Minimum Deposit | $100 AUD | $0 |
| Average Spread EUR/USD - Standard | 1.2 | 1.2 |
| All-in Cost EUR/USD - Active | 0.7 | 0.7 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | 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.
FP Markets and HFM both offer forex trading with the ability to trade as CFDs or spot contracts. FP Markets stands out with an impressive selection of 10,000 tradeable symbols compared to HFM's 500, providing traders with a broader range of investment opportunities. However, when it comes to forex pairs, HFM offers a slightly higher number with 102 options available, while FP Markets offers 71 pairs. Both brokers do not allow trading in exchange-traded securities on U.S. or international exchanges, meaning you can't directly buy shares like Apple or Vodafone through these platforms.
Both FP Markets and HFM offer copy trading and the ability to buy cryptocurrency derivatives, though neither provides the option to purchase actual cryptocurrencies. For those prioritizing a varied range of investments, FP Markets is rated slightly higher with 4.5 stars compared to HFM's 4 stars. According to ForexBrokers.com, FP Markets is ranked 18th for its range of investments, while HFM holds the 36th position among 62 assessed brokers. This makes FP Markets a slightly more favorable choice for investors looking for diversified trading options.
| Feature |
FP Markets
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 500 |
| Forex Pairs (Total) | 71 | 102 |
| 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.
When comparing the trading platforms and tools of FP Markets and HFM, both brokers offer versatile experiences for users. Each provides a free virtual demo account, allowing traders to practice and hone their skills without financial risk. Additionally, FP Markets and HFM have developed their proprietary platforms, alongside offering popular platforms like MetaTrader 4 and MetaTrader 5. Both brokers support Windows-based desktop downloads and web-based platforms, ensuring that traders have access no matter their preferred device. Copy trading is available through both brokers, though neither provides third-party tools like DupliTrade or ZuluTrade.
FP Markets and HFM both enable trading directly from stock charts and have identical offerings of seven watchlist columns. FP Markets provides 17 drawing tools for charting while HFM surpasses that with 30. In terms of overall rating for trading platforms and tools, both brokers achieve a respectable four out of five stars. However, they differ in rank by ForexBrokers.com, with FP Markets at #23 and HFM at #42 out of 62 brokers. This suggests that FP Markets may offer a slightly more enhanced trading platform experience, although both brokers provide reliable choices for traders.
| Feature |
FP Markets
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| 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) | 30 | 15 |
| Charting - Drawing Tools (Total) | 17 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FP Markets and HFM provide convenient mobile trading solutions for iPhone and Android users, ensuring you can trade on the go. You can set stock or forex price alerts on both platforms, allowing you to stay informed about market changes. However, neither app offers watchlist symbol syncing, which means changes to watchlists on the app won't automatically update your online account and vice versa. When it comes to charting, FP Markets utilizes MetaTrader by default, while HFM offers 30 technical studies for detailed analysis. Both platforms support drawing trendlines on charts and allow you to view multiple time frames, such as daily or weekly. Furthermore, your chart drawings are automatically saved on both apps, ensuring continuity in your trading workflow.
Creating a watchlist with real-time quotes is possible on both FP Markets and HFM apps, enhancing your ability to monitor selected assets closely. Despite their similarities, FP Markets outshines HFM in terms of ranking; ForexBrokers.com places FP Markets at #18 out of 62 brokers for mobile trading apps, while HFM holds the #39 spot. Both apps carry a four-star rating for mobile trading, indicating that users are generally satisfied with their offerings, though FP Markets appears to have a slight edge based on industry rankings.
| Feature |
FP Markets
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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.
Both FP Markets and HFM provide traders with strong market research components including daily market commentary and forex news from esteemed sources like Bloomberg and Reuters. Traders can also access technical analysis tools from Autochartist with both platforms. However, FP Markets has a slight edge by offering additional technical analysis tools through Trading Central, which are not available with HFM. Both brokers provide sentiment-based trading tools and maintain updated economic calendars that help traders keep track of important global news events.
Despite these similar offerings, FP Markets is ranked slightly lower than HFM in the Research category by ForexBrokers.com. Both brokers have earned a respectable 4-star rating for research, highlighting their commitment to delivering valuable market insights. However, HFM is ranked at #20 while FP Markets is at #25. This difference in ranking could suggest subtle variations in user preferences or additional features that might appeal to specific traders. Overall, both brokers present solid research offerings, yet slight differences in their toolsets and rankings may influence traders depending on their specific needs and priorities.
| Feature |
FP Markets
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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 it comes to educational resources for beginner traders, both FP Markets and HFM have a lot to offer. They provide a wealth of learning materials, with each platform delivering more than 10 educational pieces focused on forex or CFDs. These include articles, videos, and archived webinars, making it easy for newcomers to grasp the basics. Both platforms also host at least one online client webinar per month, ensuring ongoing learning opportunities. In addition, FP Markets and HFM offer searchable archives of these previously recorded webinars, allowing users to revisit various topics at their convenience.
Both FP Markets and HFM cater to traders at different levels with their extensive video libraries. Each platform provides at least 10 beginner videos, helping novices understand trading concepts, as well as 10 advanced videos for more experienced traders. For those keen on learning the jargon, both brokers offer an investor dictionary containing over 50 investing terms. Rated at 4 stars for education, FP Markets and HFM are well-regarded, although FP Markets is ranked slightly higher at #23 compared to HFM at #37 by ForexBrokers.com among 62 brokers reviewed.
| Feature |
FP Markets
|
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 FP Markets is better than HFM. FP Markets finished with an overall rank of #19, while HFM finished with an overall rank of #30.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 86 |
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Neither FP Markets nor HFM provides the option to buy actual delivered cryptocurrency, but both brokers offer the ability to trade cryptocurrency derivatives.
FP Markets and HFM both provide Visa, Mastercard, Skrill, and bank wire options for account deposits and withdrawals, but only FP Markets supports PayPal, while neither offer ACH or SEPA transfers.
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 | FP Markets | HFM | |
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| Trust Score | 89 | 86 | |
| Winner | check_circle | ||
| Review | FP Markets Review | HFM Review |
| Broker Screenshots | FP Markets | HFM | |
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| Regulation | FP Markets | HFM | |
|---|---|---|---|
| Trust Score | 89 | 86 | |
| Year Founded | 2005 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | No | 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) | FP Markets | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 500 | |
| Forex Pairs (Total) | 71 | 102 | |
| 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 | FP Markets | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | HFM | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $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 | No | No |
| Trading Platforms | FP Markets | HFM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 15 | |
| Charting - Drawing Tools (Total) | 17 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | HFM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP Markets | 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 | FP Markets Review | HFM Review |
| Overall | FP Markets | HFM | |
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| Trust Score | 89 | 86 | |
| Winner | check_circle | ||
| Review | FP Markets Review | HFM Review |
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