Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, founded in 1999, and HFM, established in 2010, are both prominent names in the online brokerage world, yet they differ in their regulatory standings and trustworthiness. FXCM stands out as a publicly traded company, whereas HFM is privately held. Neither broker operates as a bank, but FXCM's public presence on a stock exchange potentially adds a layer of transparency and public accountability. When it comes to regulatory credentials, FXCM holds 4 Tier-1 licenses, signifying high trust, and 2 Tier-2 licenses. In comparison, HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses, indicating a solid level of trust but not quite matching FXCM’s regulatory footprint.
The trust score ratings from ForexBrokers.com further highlight FXCM's stronger position with a score of 95 out of 99, designating it as highly trusted. Meanwhile, HFM, with a score of 86, still earns a trusted label but lands slightly lower. These scores are indicative of the brokers' overall risk perception, where FXCM appears to offer a more secure option for traders seeking confidence in the oversight and stability of their trading platform.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing the commissions and fees of FXCM and HFM, both brokers offer competitive yet slightly above-average pricing structures for forex trading. FXCM's standard account spreads, as of May 2024, are somewhat higher than industry norms, with the EUR/USD spreading averaging 0.78 pips in regions such as the EU, U.K., and Australia. In contrast, accounts from its St. Vincent and the Grenadines entity observe even higher spreads of 1.38 pips. However, FXCM offers a more compelling option through its commission-based accounts, which average a core spread of 0.28 pips, excluding commission fees. This option is particularly appealing for high-volume traders who can benefit from active trader discounts, although these are not available in the U.K. or EU. It's crucial to note that spread values can fluctuate significantly, especially during market rolls or unexpected conditions.
HFM presents a trading environment with similar fee structures that are also slightly above the industry average. Their standard accounts reportedly have a spread of 1.2 pips, although a specific date range for this average isn't indicated, making the data less transparent. For traders opting for the Zero account, the effective spread stands at about 0.7 pips, inclusive of commission, though this too appears more indicative than average. HFM's structure, much like FXCM, hinges on account type and trading volume, potentially impacting the final trading costs that traders may experience.
Both FXCM and HFM earn a 4-star rating for their commissions and fees, indicating a steady performance in this area. Despite sharing the same star rating, FXCM holds a slightly higher rank, coming in at 24th place out of 62 brokers as reviewed by ForexBrokers.com, while HFM follows at 31st. These positions suggest that while both brokers are reliable choices for traders, FXCM might offer a slight edge in fee-related competitiveness.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average Spread EUR/USD - Standard | 0.78 | 1.2 |
| All-in Cost EUR/USD - Active | 0.78 | 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.
FXCM and HFM are both prominent online brokers offering opportunities for forex trading, providing contracts for difference (CFD) and spot contracts. Although FXCM has a total of 440 tradeable symbols, HFM edges it out with 500, offering a wider range. In terms of forex pairs, the gap is more significant: FXCM offers 43 pairs while HFM provides access to 102. Neither broker facilitates trading of exchange-traded securities on U.S. or international exchanges, meaning clients cannot directly purchase shares such as Apple or Vodafone.
In addition to forex, both FXCM and HFM allow clients to trade cryptocurrency derivatives, but neither provides the option to buy actual cryptocurrencies. Copy trading is available with both brokers, giving users the chance to follow more experienced traders. Despite their similarities, HFM receives a higher rating for its range of investments at 4 stars, compared to FXCM's 3.5 stars. ForexBrokers.com ranks HFM at #36 out of 62 brokers, while FXCM is positioned at #47, highlighting a subtle distinction in investment offerings between the two.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 500 |
| Forex Pairs (Total) | 43 | 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 FXCM and HFM in terms of their trading platforms and tools, both brokers present various features that cater to different trading preferences, starting with the availability of simulated trading through free virtual demo accounts. They both offer proprietary trading platforms alongside Windows-based desktop downloads and web-based options. Copy trading is available with both brokers, though FXCM distinguishes itself by supporting ZuluTrade while HFM does not. Both brokers also provide the widely-used MetaTrader 4 platform, yet only HFM extends its offerings to include MetaTrader 5.
In terms of charting capabilities, FXCM furnishes 10 drawing tools, significantly fewer than HFM, which delivers 30. For trading directly from stock charts, both brokers provide this functionality. When it comes to organizing watch lists, FXCM offers 13 columns for customization compared to HFM's 7. Rated 5 stars, FXCM stands out in the trading platforms and tools category, placing 6th out of 62 brokers. HFM, receiving a 4-star rating, is placed at 42nd.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 15 |
| Charting - Drawing Tools (Total) | 10 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FXCM and HFM offer iPhone and Android apps that cater to the needs of forex traders. Each app provides stock and forex price alerts to keep users updated on the market's fluctuations. While both platforms allow traders to create watchlists with real-time quotes, FXCM has the added advantage of watchlist symbol syncing. This feature ensures that any changes made in your mobile app or online account automatically update across both platforms. In terms of charting capabilities, FXCM stands out by offering 59 technical studies, surpassing HFM's offering of 30. Additionally, users can draw trendlines and view multiple time frames on charts with either app, and all drawings are saved automatically for convenience.
FXCM is rated higher than HFM for its mobile trading app, boasting a 4.5-star rating compared to HFM’s 4 stars. Furthermore, FXCM ranks #16 out of 62 brokers in the Mobile Trading Apps category by ForexBrokers.com, while HFM holds the #39 spot. While both apps provide solid features for mobile trading, FXCM offers more advanced charting tools and the convenience of watchlist syncing, giving it an edge in this comparison.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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 FXCM and HFM provide daily market commentary, delivering insights into ongoing market trends. They also offer forex news from respected sources like Bloomberg and Reuters. When it comes to specialized tools, FXCM has a slight edge with Trading Central's technical analytics and market research from TipRanks, while HFM lacks these but compensates with tools from Autochartist. Moreover, both brokers feature sentiment-based trading tools, offering traders a glimpse into long and short position trends in various currency pairs.
Both FXCM and HFM provide an economic calendar covering global events, allowing traders to stay informed on important financial news. However, based on their research capabilities, ForexBrokers.com ranks FXCM slightly higher, with a 4.5-star rating and an 11th place among 62 brokers, compared to HFM's 4-star rating and 20th place ranking. This suggests that while both brokers offer solid research tools, FXCM may be a better choice for those seeking more comprehensive market analysis resources.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | 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 comparing educational resources for beginners offered by the online brokers FXCM and HFM, both stand out by providing extensive learning materials designed to help newcomers to forex and CFDs trading. FXCM and HFM each offer a wealth of over 10 educational pieces, ranging from articles and videos to archived webinars focused on fundamental trading concepts. Additionally, they conduct regular online educational webinars, with at least one per month, and maintain searchable archives of these sessions for users who wish to learn at their own pace.
FXCM and HFM offer targeted educational videos, ensuring that both beginners and more advanced traders can find suitable content. Each broker provides a comprehensive investor dictionary, featuring definitions of more than 50 investing terms, which is a valuable tool for new traders. While both brokers are noteworthy in their educational offerings, FXCM slightly edges out with a 4.5-star rating compared to HFM’s 4-star rating and holds a higher position in the ForexBrokers.com rankings, placed at #14 compared to HFM’s #37 out of 62 brokers evaluated for education.
| Feature |
FXCM
|
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 FXCM is better than HFM. FXCM finished with an overall rank of #15, while HFM finished with an overall rank of #30.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 86 |
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Both FXCM and HFM do not offer the ability to buy actual (delivered) cryptocurrencies, but they do provide options to trade cryptocurrency derivatives.
FXCM offers a wide range of options for depositing and withdrawing funds, including ACH, SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, while HFM provides Skrill, Visa, Mastercard, and bank wire options, but lacks ACH, SEPA transfers, and PayPal support.
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 | FXCM | HFM | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
| Broker Screenshots | FXCM | HFM | |
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| Regulation | FXCM | HFM | |
|---|---|---|---|
| Trust Score | 95 | 86 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | FXCM | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | FXCM | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 500 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | HFM | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 15 | |
| Charting - Drawing Tools (Total) | 10 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | 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 | 59 | 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 | FXCM | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | HFM Review |
| Overall | FXCM | HFM | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
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