HFM vs TeleTrade 2024

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.

TeleTrade is not publicly traded and does not operate a bank. TeleTrade is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk). TeleTrade is authorised by the following Tier-1 regulator: Regulated in the European Union via the MiFID passporting system.

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.

TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.

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

TeleTrade requires a minimum deposit of $100 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. Both HFM and TeleTrade offer 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 HFM holds 2 global Tier-1 licenses, while TeleTrade holds 1. HFM holds 3 global Tier-2 licenses, while TeleTrade 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 HFM (86) earned a higher Trust Score than TeleTrade (71).

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

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

Here’s what trading platforms are available at TeleTrade:

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

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both HFM and TeleTrade offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. HFM and TeleTrade both offer copy trading.

HFM provides traders 102 currency pairs (e.g., EUR/USD) compared to TeleTrade's 61 available pairs. Forex pairs aside, both HFM and TeleTrade provide traders access to 500 total tradeable symbols.

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