Written by ForexBrokers.com
In this head to head comparison of HFM vs Xtrade, 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.
Founded in 2010, HFM is a well-established online broker that has garnered a Trust Score of 86 out of 99 from ForexBrokers.com, placing it in the trusted category. HFM is not publicly traded and is not a bank, ensuring its focus remains solely on brokerage services. The company maintains a strong regulatory standing with two Tier-1 licenses, signifying a high level of trust, alongside three Tier-2 licenses that also convey a trusted status.
On the other hand, Xtrade, established in 2003, has a Trust Score of 74 out of 99, indicating an average risk according to ForexBrokers.com. Similar to HFM, Xtrade is not publicly traded and does not operate as a bank. In terms of regulatory backing, Xtrade holds one Tier-1 and one Tier-2 license, marking it as less fortified in terms of licenses compared to HFM. This regulatory comparison showcases the distinct trust and security profiles these brokers offer.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing HFM and Xtrade in terms of commissions and fees, HFM's trading costs are slightly above the industry standard. For standard trading accounts at HFM, the company suggests a typical spread of 1.2 pips, though the absence of a specified date range means this might not reflect the average spread. HFM's Zero account offers an effective spread of 0.7 pips after taking into account commissions, but again, this figure is not an average.
In contrast, Xtrade does not provide average spread data, leaving potential traders without a clear understanding of potential costs. This lack of transparency can be a drawback for those looking for precise cost estimates before engaging in trades.
In terms of ratings, HFM earns a commendable 4-star rating for its commissions and fees. It's ranked 31st out of 62 brokers by ForexBrokers.com in this category. On the other hand, Xtrade receives a lower rating of 2.5 stars and is ranked last, at 62nd, highlighting a significant gap in cost-effectiveness compared to other brokers. This ranking provides insight into where both brokers stand in terms of their fee structures in the competitive trading industry.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| 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 | No |
| 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.
HFM and Xtrade both offer forex trading, allowing clients to trade it as a Contract for Difference (CFD) or spot contract. HFM provides a slightly larger selection of tradable symbols, totaling 500, compared to Xtrade's 482. When it comes to forex pairs, HFM stands out with 102 available pairs, surpassing Xtrade's 56 options. Both brokers do not offer exchange-traded securities on U.S. or international exchanges, meaning clients cannot purchase actual stocks like Apple or Vodafone directly but can still trade derivatives of these instruments.
In the realm of cryptocurrency, neither HFM nor Xtrade allows for the purchase of actual cryptocurrencies, but both offer derivatives for trading. HFM also distinguishes itself by offering copy trading, a feature absent from Xtrade. For investors considering the range of investments, HFM receives a rating of 4 stars, ranking 36th out of 62 brokers, while Xtrade scores 3.5 stars, ranking 49th according to ForexBrokers.com. This reflects a broader investment range offered by HFM, especially for those interested in forex and derivatives trading.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 482 |
| Forex Pairs (Total) | 102 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
HFM and Xtrade both offer strong platforms for traders, yet they cater to different needs and preferences. Both brokers provide free virtual demo accounts, allowing beginners to practice trading without risks. For desktop trading, HFM has an edge with a Windows-based download platform, which Xtrade lacks. Both brokers feature web-based platforms, making them accessible on any device with an internet connection. Notably, HFM supports popular software like MetaTrader 4 and MetaTrader 5, while Xtrade does not. This might be pertinent for traders who prefer these platforms for their advanced charting capabilities.
Each broker has developed its proprietary platform, designed to maximize user experience. While HFM shines with copy trading options, Xtrade stands out with a broader array of chart drawing tools—100 to HFM's 30. Both platforms enable traders to execute trades directly from stock charts, but Xtrade offers a slightly more customizable experience with nine watchlist columns compared to HFM’s seven. Rated 4 stars compared to Xtrade's 3.5, HFM ranks higher in the Trading Platforms and Tools category, securing the #42 spot out of 62 brokers, whereas Xtrade ranks at #58.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | N/A |
| Charting - Drawing Tools (Total) | 30 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both HFM and Xtrade offer iPhone and Android apps, ensuring traders have access regardless of their device. However, HFM sets itself apart by providing stock and forex price alerts, a feature absent in Xtrade's app. While neither platform syncs watchlist symbols between the mobile app and the online account, HFM delivers a richer experience with 30 technical studies for charting, compared to the lack of this feature in Xtrade's app. Traders using HFM can also draw trendlines and switch between various time frames, such as daily or weekly, while these options are missing in Xtrade's app. Furthermore, chart drawings on HFM are automatically saved, easing the workflow for active traders.
HFM offers the ability to create watchlists with real-time quotes, a capability not available with Xtrade. Both trading apps are rated four stars, but HFM ranks higher at #39 compared to Xtrade's #53 in the ForexBrokers.com review of 62 brokers. Overall, while both apps provide essential trading functions, HFM's app offers more advanced features that may appeal to traders seeking a comprehensive mobile trading toolset.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of HFM and Xtrade, both brokers provide essential features such as daily market commentary and forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. However, HFM stands out by offering advanced tools like Autochartist for technical analysis, as well as a sentiment-based trading tool that displays ratios of long or short positions. Meanwhile, Xtrade does not feature Autochartist tools or a sentiment-based trading component, which could impact traders seeking a more in-depth analysis.
Both HFM and Xtrade provide access to an economic calendar that keeps traders informed about important global news events. Despite some similarities, HFM earns a higher research rating of 4 stars compared to Xtrade's 3.5 stars. This distinction is further highlighted by HFM's higher ranking at 20th among 62 brokers for research effectiveness, whereas Xtrade ranks 52nd in the same category. Consequently, HFM may be a better choice for traders who prioritize comprehensive research tools and expert insights in their trading strategy.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| 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 comparing the educational resources available for beginners at HFM and Xtrade, HFM emerges as a more comprehensive choice. Both brokers provide more than 10 educational pieces focusing on forex and CFDs, including articles, videos, and archived webinars. However, HFM goes a step further by offering regular monthly webinars geared towards client education, a feature not available with Xtrade. HFM also provides a searchable archive of these webinars for users who wish to access past sessions, which is an added boon for those looking to deepen their knowledge over time. While Xtrade lacks this feature, both brokers offer an investor dictionary with over 50 investment-related terms, making it easier for novices to familiarize themselves with the trading lexicon.
For beginners eager to learn through video content, HFM again takes the lead. It offers over 10 videos tailored specifically for beginners, which Xtrade does not. Additionally, HFM supplements its educational offerings with advanced educational videos suitable for seasoned traders, whereas Xtrade does not provide this level of support for more experienced clients. This dedication to comprehensive education is reflected in HFM's educational ratings, standing at four stars compared to Xtrade's 3.5 stars. In rankings, HFM is positioned at #37 by ForexBrokers.com in the Education category, ahead of Xtrade, which ranks at #46. This makes HFM a more attractive option for beginners looking to access a wide range of educational resources as they start their trading journey.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 Xtrade. HFM finished with an overall rank of #30, while Xtrade finished with an overall rank of #59.
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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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 74 |
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Both HFM and Xtrade do not provide the option to purchase actual delivered cryptocurrencies; however, they both offer the ability to trade cryptocurrency derivatives.
Both HFM and Xtrade do not support ACH or SEPA transfers or PayPal for depositing or withdrawing funds, but they do offer Skrill, Visa, Mastercard, and bank wire options for these transactions.
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 | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | HFM Review | Xtrade Review |
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| Regulation | HFM | Xtrade | |
|---|---|---|---|
| Trust Score | 86 | 74 | |
| 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 | 1 | |
| Tier-2 Licenses | 3 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | Xtrade | |
|---|---|---|---|
| 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 | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 482 | |
| Forex Pairs (Total) | 102 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | HFM | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 15 | N/A | |
| Charting - Drawing Tools (Total) | 30 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | HFM | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | HFM | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | HFM | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | HFM Review | Xtrade Review |
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