Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA, established in 1996, and HFM, which began its operations in 2010, are both online brokers that offer trading services. Neither of them is publicly traded or operates as a bank. When it comes to regulatory standing, these brokers display distinct levels of trustworthiness. OANDA holds 7 Tier-1 licenses, the type regarded as highly reliable and has earned a Trust Score of 93 out of 99 on ForexBrokers.com, categorizing it as highly trusted.
On the other hand, HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses, which are still respectable but fall short of OANDA's credentials. HFM carries a Trust Score of 86 out of 99, placing it in the “trusted” category. While both brokers are considered reliable, OANDA slightly edges out HFM in terms of overall regulatory backing and trust score.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing OANDA and HFM based on commissions and fees, both brokers offer unique advantages and challenges for traders. OANDA's forex trading costs are generally high, characterized by significant spreads in its default and core pricing. While not positioned as a discount broker, OANDA's standout feature is its automated execution across account offerings. In contrast, HFM's trading costs hover slightly above the industry average, with standard trading accounts typically showing a spread of 1.2 pips, although no specific date range is provided to ascertain this as a consistent average.
OANDA provides core pricing options that require a $10,000 minimum deposit, offering lower spreads accompanied by a per-side commission of $5 per $100,000 traded. This structure results in a marginally better all-in cost than its commission-free pricing. For example, with a commission-equivalent of 1 pip added to a 0.4 pip spread, the total cost for core pricing lands at 1.4 pips, slightly under the default cost. HFM's Zero account offers an effective spread of 0.7 pips after commission, though this is also not explicitly cited as an average, which might obscure precise fee assessments.
For traders considering these brokers, the rankings and star ratings provide guidance. Both OANDA and HFM boast a 4-star rating for commissions and fees. In the competitive landscape, OANDA is ranked 34th, while HFM holds the 31st position out of 62 brokers in the ForexBrokers.com rankings, indicating a slight edge for HFM in terms of cost-effectiveness associated with forex trading.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 1.2 |
| All-in Cost EUR/USD - Active | 1.61 | 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.
When comparing the range of investments offered by OANDA and HFM, both brokers provide clients with the ability to trade in forex as either a CFD or spot contract. However, there are notable differences in the number of tradeable symbols and forex pairs available. OANDA offers a more extensive selection overall with 3,928 tradeable symbols and 68 forex pairs, whereas HFM provides 500 tradeable symbols and 102 forex pairs. Despite these differences, both platforms do not allow clients to buy exchange-traded securities on U.S. or international exchanges, such as shares of Apple or Vodafone.
In addition to traditional forex trading, both OANDA and HFM offer copy trading features. For those interested in cryptocurrency, OANDA allows the purchase of actual cryptocurrency, while both brokers offer cryptocurrency derivatives. OANDA and HFM have been rated four stars out of five for their range of investments. However, in the category ranking by ForexBrokers.com, OANDA holds the 27th position, while HFM is ranked at 36th out of 62 brokers, indicating a slight edge for OANDA in the variety of investments they provide.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 500 |
| Forex Pairs (Total) | 68 | 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) | 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.
When comparing OANDA and HFM in terms of trading platforms and tools, both brokers offer a diverse range of features for traders of all levels. OANDA and HFM provide users with the flexibility of simulated or paper trading through free virtual demo accounts, which is ideal for beginners to practice without risk. They both have developed proprietary platforms in-house, and each offers Windows-based desktop download and web-based (browser) trading platforms. Traders also have access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) through both brokers, as well as options for copy trading. However, neither OANDA nor HFM supports DupliTrade or ZuluTrade, platforms often sought for their unique automated trading capabilities. Despite this, both brokers receive a solid rating of 4 stars for their trading platforms and tools, highlighting their impressive offerings.
In regard to charting and analysis tools, OANDA stands out significantly with 431 drawing tools compared to HFM's 30. This extensive range might appeal to analysis-driven traders looking to employ various strategies. While both brokers provide the ability to trade directly from stock charts, OANDA offers slightly fewer watch list columns with six, compared to HFM's seven. Nonetheless, in terms of rankings, OANDA is placed higher at #16 by ForexBrokers.com for its trading platforms and tools, while HFM is ranked at #42 out of 62 brokers. This suggests that OANDA may offer a more comprehensive suite of tools and functionalities that elevate its platform in the eyes of industry experts, making it an appealing option for traders seeking a feature-rich experience.
| Feature |
OANDA
|
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) | 81 | 15 |
| Charting - Drawing Tools (Total) | 431 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
For those looking to trade on the go, both OANDA and HFM provide mobile trading apps available for iPhone and Android users. Each app offers features such as stock and forex price alerts, the ability to draw trend lines on charts, and the flexibility to view multiple time frames like daily or weekly. Users can also create watchlists with real-time quotes. Although both apps allow these functionalities, neither supports watchlist symbol syncing, meaning changes made on mobile do not sync with the online account and vice versa.
When it comes to charting, both OANDA and HFM provide 30 technical studies for detailed analysis and auto-save functionality for chart drawings. However, OANDA takes the lead with a 5-star rating for its mobile trading app, compared to HFM’s 4-star rating. This difference in user satisfaction is reflected in their rankings by ForexBrokers.com, where OANDA is placed 7th out of 62 brokers, significantly higher than HFM's 39th position. Whether you're a seasoned trader or just starting out, understanding these differences can help you choose the right platform for your trading needs.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When considering market research offerings, both OANDA and HFM provide substantial resources to their users. Each broker delivers daily market commentary, allowing traders to stay informed on the latest market trends. They also offer forex news from prestigious sources like Bloomberg and Reuters, ensuring high-quality information. Users of either service have access to technical analysis tools from Autochartist, which can enhance their trading strategies. However, neither OANDA nor HFM offer tools from Trading Central or utilize sources like TipRanks and Acuity Trading. Both brokers provide sentiment-based trading tools and inclusive economic calendars to help traders stay informed about global events that could influence market movements.
While OANDA and HFM share several common features in their market research offerings, OANDA has a marginal edge in perceived user satisfaction and quality, as reflected in its higher research rating of 5 out of 5 stars compared to HFM's 4 stars. OANDA stands out by ranking #5 out of 62 brokers for research, whereas HFM is positioned at #20, according to ForexBrokers.com. This distinction highlights OANDA's comprehensive approach and commitment to delivering superior research tools to its clients, making it a strong contender for those seeking in-depth market insights.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | 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 comparing the educational resources available to beginners from OANDA and HFM, both online brokers offer a wide range of tools for novice traders. OANDA and HFM provide over 10 educational pieces focused on forex and CFDs, including articles, videos, and archived webinars. Moreover, both offer online educational webinars at least once a month, complemented by a searchable archive of past webinars. Each platform also includes a comprehensive investor dictionary with over 50 investing terms for easy reference.
For beginners looking to enhance their knowledge, both OANDA and HFM present over 10 videos specifically geared toward newcomers, along with advanced videos for those aiming to further develop their skills. Despite the similarities, OANDA edges slightly ahead with a 5-star rating for education compared to HFM's 4 stars. Additionally, OANDA holds a higher ranking in the education category according to ForexBrokers.com, coming in at 22nd out of 62 brokers, while HFM ranks at 37th. These distinctions may appeal to those prioritizing highly rated educational support in their trading journey.
| Feature |
OANDA
|
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 OANDA is better than HFM. OANDA finished with an overall rank of #12, while HFM finished with an overall rank of #30.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 86 |
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OANDA provides options to purchase both actual cryptocurrencies and cryptocurrency derivatives, whereas HFM only offers cryptocurrency derivatives without the option to buy the actual cryptocurrencies.
OANDA stands out with its diverse funding options including ACH, SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, while HFM offers Skrill, Visa, Mastercard, and bank wires but lacks both ACH, SEPA transfers and PayPal 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 | OANDA | HFM | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | HFM Review |
| Broker Screenshots | OANDA | HFM | |
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| Regulation | OANDA | HFM | |
|---|---|---|---|
| Trust Score | 93 | 86 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | 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 | OANDA | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 500 | |
| Forex Pairs (Total) | 68 | 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) | 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 | OANDA | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.61 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | OANDA | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 15 | |
| Charting - Drawing Tools (Total) | 431 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | 30 | 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 | OANDA | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | OANDA Review | HFM Review |
| Overall | OANDA | HFM | |
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| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | HFM Review |
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