Written by ForexBrokers.com
In this head to head comparison of HFM vs FXOpen, 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, founded in 2010, and FXOpen, established in 2003, are both online brokers offering trading services, yet they differ significantly when it comes to trust ratings and regulatory licenses. While neither company is publicly traded or operates as a bank, they each hold two highly trusted Tier-1 licenses, underscoring their commitment to safety. However, HFM further distinguishes itself by holding three additional trusted Tier-2 licenses, whereas FXOpen holds none.
This difference is reflected in their Trust Scores as rated by ForexBrokers.com, where HFM earns a score of 86, positioning it within the "trusted" category. In contrast, FXOpen scores a 76, placing it in the "average risk" range. Both brokers maintain a presence in the trading industry, yet HFM emerges as more reliable according to these metrics.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
When comparing the commissions and fees of HFM and FXOpen, both brokers receive a 4-star rating for this category, indicating suitable pricing for traders. At HFM, trading costs are slightly higher than the industry average. For their standard trading accounts, the company cites a typical spread of 1.2 pips. However, this figure does not specify a date range, which makes it challenging to ascertain the actual average spread. Their Zero account offers an effective spread of 0.7 pips once commissions are factored in, though this is also not presented as an average rate.
In contrast, FXOpen does not provide specific data regarding average spreads, making it more difficult to assess their overall pricing transparency in the same manner as HFM. This lack of detailed spread information means traders may need to individually evaluate real-time trading costs through their platform.
Within the industry rankings for commissions and fees as determined by ForexBrokers.com, HFM ranks at #31 out of 62 brokers, reflecting a middle-ground position for pricing competitiveness. FXOpen comes in slightly lower at #45, suggesting room for improvement in offering competitive trading costs. Despite differences in ranking, both brokers seemingly provide value, each achieving a comparable 4-star rating.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
When it comes to the variety of investments available, HFM stands out with a more extensive offering compared to FXOpen. HFM provides access to 500 tradeable symbols, including 102 forex pairs, offering a wide range of trading opportunities to its users. In contrast, FXOpen offers a total of 87 tradeable symbols with 25 forex pairs. Both brokers allow for forex trading through contracts for difference (CFDs) or spot contracts. Despite this common ground, neither HFM nor FXOpen offers exchange-traded securities on U.S. or international exchanges, limiting the options for clients interested in traditional stock investments. Additionally, while both platforms facilitate the trading of cryptocurrency derivatives, they do not allow the purchase of actual cryptocurrencies. For those interested in social trading, both brokers provide copy trading services.
In terms of overall investment range, HFM is rated higher, receiving a commendable four-star rating and ranking #36 out of 62 brokers by ForexBrokers.com. Meanwhile, FXOpen holds a three-star rating, placing it at #61 in the same category. This evaluation highlights HFM's relative strength in offering a broader selection of trading options, making it potentially more appealing to traders who prioritize variety in their investment portfolio. With these distinctions, prospective investors can better understand their options when choosing between HFM and FXOpen, depending on their specific trading needs and preferences.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 87 |
| Forex Pairs (Total) | 102 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When examining the trading platforms and tools of HFM and FXOpen, both brokers make a solid case with several common features, including simulated paper trading with free virtual demo accounts and widespread support for MetaTrader 4 and MetaTrader 5, meeting diverse trader preferences. They also offer both desktop and web-based platforms, enhancing flexibility for users. Copy trading is a feature provided by both brokers, although FXOpen stands out by offering ZuluTrade, broadening social trading options not available at HFM. While neither broker incorporates DupliTrade, their core trading platforms cater well to market needs.
Despite shared strengths, there are notable differences in their offerings. HFM features a proprietary trading platform and excels with 30 drawing tools for charting, double the number found with FXOpen, providing traders with ample options for chart analysis. Both brokers support trading directly from stock charts and offer comprehensive watch lists with seven columns. Yet, HFM holds a higher position in ForexBrokers.com rankings for trading platforms and tools, coming in at 42 compared to FXOpen’s 53, although both maintain a respectable 4-star rating. Overall, HFM and FXOpen deliver competent trading experiences, with unique advantages fitting distinct trading preferences.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| 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 | Yes |
| 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.
Both HFM and FXOpen offer convenient mobile trading apps available for iPhone and Android users, making it easy to trade stocks or forex on the go. You can receive price alerts, create watchlists with real-time quotes, and explore charts with multiple time frames on both platforms. HFM and FXOpen each provide 30 technical studies for in-depth chart analysis and allow users to draw trendlines. However, only HFM's app auto saves these drawings, giving it a slight edge in this feature.
While neither app offers watchlist symbol syncing between the mobile app and online accounts, they maintain their strong capabilities with consistent charting tools and alert features. Both apps are rated four out of five stars, though HFM stands out with a rank of 39th out of 62 brokers for mobile trading apps on ForexBrokers.com, compared to FXOpen's 54th-place ranking. This ranking differential could make HFM a slightly more appealing option for those prioritizing mobile trading experience.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of HFM and FXOpen, both platforms provide daily market commentary and access to top-tier forex news sources like Bloomberg, Reuters, and Dow Jones. HFM stands out with its inclusion of Autochartist tools for technical analysis, while FXOpen lacks this feature. Neither platform offers research tools from Trading Central or Acuity Trading, nor do they integrate market research from TipRanks. However, HFM provides a sentiment-based trading tool that reveals trader positions, a feature not available with FXOpen.
Both brokers offer an economic calendar for tracking global news events. HFM's research capabilities receive a higher rating of 4 stars compared to FXOpen's 3 stars, reflecting HFM's broader range of tools and better market insights. Ranked by ForexBrokers.com among 62 brokers, HFM takes the 20th spot for research, significantly outperforming FXOpen, which is ranked at 62. This ranking underscores HFM's superior position in delivering comprehensive market analysis and tools for traders.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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, HFM clearly stands out compared to FXOpen. HFM offers a wide array of learning materials, including more than ten pieces dedicated to forex or CFDs education. They host monthly online webinars and maintain a comprehensive archive for those who prefer learning at their own pace. Additionally, HFM provides over ten educational videos specifically designed for beginners, alongside another set for advanced traders. FXOpen, on the other hand, falls short in these areas, lacking a similar volume and variety of educational content. While both brokers offer investor dictionaries containing definitions of over fifty investing terms, HFM provides a more extensive learning environment.
Rated four stars for education, HFM ranks at number 37 out of 62 brokers according to ForexBrokers.com, showcasing their commitment to supporting traders through a solid educational foundation. In comparison, FXOpen holds a three-star rating and ranks at number 58, reflecting the limited educational options available for novice traders. Whether you're starting your trading journey or looking to enhance your skills, HFM’s educational offerings are well-suited to guide you towards a deeper understanding of the trading world.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 FXOpen. HFM finished with an overall rank of #30, while FXOpen finished with an overall rank of #54.
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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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 76 |
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Both HFM and FXOpen do not provide the option to purchase actual delivered cryptocurrencies, but they do allow trading in cryptocurrency derivatives.
Both HFM and FXOpen provide options for depositing and withdrawing account funds via Skrill, Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, or PayPal 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 | HFM | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HFM Review |
| Broker Screenshots | HFM | FXOpen | |
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| Regulation | HFM | FXOpen | |
|---|---|---|---|
| Trust Score | 86 | 76 | |
| Year Founded | 2010 | 2003 | |
| 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 | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | HFM | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | HFM | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 87 | |
| Forex Pairs (Total) | 102 | 25 | |
| 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). |
| Cost | HFM | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | 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 | HFM | FXOpen | |
|---|---|---|---|
| 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 | Yes |
| Trading Tools | HFM | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | HFM | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HFM | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | HFM | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HFM Review |
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