Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets 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.
BlackBull Markets (founded 2014) and HFM (founded 2010) are both online brokers that are privately held and not banks. According to ForexBrokers.com, BlackBull Markets has a Trust Score of 77/99 (average risk), while HFM scores 85/99 (trusted).
Looking at regulation, BlackBull Markets holds 1 Tier-1 license (considered highly trusted by ForexBrokers.com) and 0 Tier-2 licenses, whereas HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses (trusted). On the ForexBrokers.com scale, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted—helping explain why HFM’s broader licensing aligns with its higher Trust Score compared with BlackBull Markets.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Year Founded | 2014 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
BlackBull Markets is the better choice for commissions and fees when compared with HFM. BlackBull earns a 4.5-star rating and ranks #9 out of 36 brokers, while HFM holds 4 stars and ranks #28. In simple terms, BlackBull’s pricing is closer to the industry average, while HFM’s trading costs are a bit higher than average.
At BlackBull Markets, costs depend on the account you choose. The Standard account has no commission and no minimum deposit, but spreads are higher. The Prime account is often the best value for active traders, with an average EUR/USD spread of 0.16 pips and an all-in cost of about 0.76 pips after commission, though it requires a $2,000 deposit. The ECN Institutional account is aimed at larger traders, with a $20,000 minimum deposit and lower commissions.
HFM is less competitive on fees overall. Its standard accounts typically show spreads around 1.2 pips, and its Zero account can reach an effective spread of 0.7 pips after commission, but that figure is not presented as an average. For traders focused on lower costs, BlackBull Markets offers the stronger mix of pricing, account choice, and value.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.16 | 1.8 |
| All-in Cost EUR/USD - Active | 0.76 | 1.1 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, BlackBull Markets offers a much wider selection than HFM. BlackBull Markets lists 26,000 tradeable symbols and 72 forex pairs, while HFM offers 344 tradeable symbols and 38 forex pairs. Both brokers support forex trading as CFDs or spot contracts, offer copy trading, and let traders access cryptocurrency CFDs, but neither allows buying actual delivered crypto.
BlackBull Markets also stands out because it offers exchange traded securities on both U.S. and international exchanges, so clients can buy real shares such as Apple or Vodafone. HFM does not offer exchange traded securities on these markets. Reflecting this broader market access, BlackBull Markets is rated 5 stars for Range of Investments and ranks #7 out of 36 brokers at ForexBrokers.com, compared with HFM’s 4 stars and #28 ranking.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 344 |
| Forex Pairs (Total) | 72 | 38 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
BlackBull Markets and HFM both give traders a wide choice of platform options, including free demo accounts, Windows desktop downloads, web-based trading, MetaTrader 4 (MT4), MetaTrader 5 (MT5), copy trading, and the ability to place trades directly from charts. For traders who want to test strategies or switch between devices, both brokers make it easy to get started and trade in a way that fits different experience levels and styles. When it comes to trading tools, both are rated 4 out of 5 stars for Trading Platforms and Tools, though ForexBrokers.com ranks BlackBull Markets higher at #25 out of 36 brokers, compared with HFM at #33.
The main difference is that HFM offers a proprietary platform built in-house, while BlackBull Markets does not. That may matter for traders who want a broker’s own platform design in addition to the popular third-party choices. Still, both brokers cover the key essentials well, with strong platform access across desktop, browser, and mobile-friendly trading setups, making either one a practical pick for traders looking for flexibility and familiar tools.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 109 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
BlackBull Markets and HFM both give traders the basics they need on the go, with iPhone and Android apps, price alerts, trendline tools, and auto-saving chart drawings. Each broker also earns 4 out of 5 stars for mobile trading apps, so both provide a solid app experience for everyday trading.
The bigger difference is in charting and account syncing. BlackBull Markets offers watchlist symbol syncing between its mobile app and online account, while HFM does not. BlackBull Markets also gives traders 30 technical studies in its mobile charting tools, compared with just 5 at HFM. In ForexBrokers.com’s mobile trading apps ranking, BlackBull Markets places higher at #27 out of 36 brokers, while HFM ranks #32.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 5 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
BlackBull Markets and HFM both give traders useful market research tools, including daily market commentary, Autochartist, a sentiment tool showing long and short positions, and an economic calendar with key global events. In terms of research quality, BlackBull Markets has a slight edge, earning 4.5 out of 5 stars and ranking #17 out of 36 brokers for Research on ForexBrokers.com, while HFM scores 4 out of 5 stars and ranks #18.
The main difference is that HFM offers forex news from major sources like Bloomberg, Reuters, and Dow Jones, while BlackBull Markets does not. HFM also includes research from Acuity Trading, such as Signal Centre, which BlackBull Markets lacks. Even so, both brokers cover the basics well, making either one a solid choice for traders who want market updates and built-in research tools.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner education, both BlackBull Markets and HFM give new traders a solid starting point. Each broker offers forex and CFD learning material, monthly online webinars, and at least 10 beginner and 10 advanced videos, so beginners can learn the basics and keep building their knowledge as they gain experience. That said, BlackBull Markets comes out ahead in this area, with a 4.5-star Education rating and a #24 ranking out of 36 brokers from ForexBrokers.com, compared with HFM’s 4-star rating and #29 ranking.
For traders who want easy-to-follow educational support, both brokers cover the main essentials, but BlackBull Markets appears to offer a slightly stronger learning experience overall. HFM still provides plenty of useful content for beginners, including webinars and video lessons, but BlackBull Markets has the edge based on its higher education rating and better category ranking.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that BlackBull Markets is better than HFM. BlackBull Markets finished with an overall rank of #22, while HFM finished with an overall rank of #27.
BlackBull Markets is a growing broker best known for its broad platform support, including MetaTrader, cTrader, TradingView, and copy trading tools, along with a large range of tradeable instruments.
| Feature |
BlackBull Markets
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 77 | 85 |
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Comparing BlackBull Markets and HFM for cryptocurrency trading: neither broker offers buying actual (delivered) cryptocurrencies with direct ownership, but both support trading cryptocurrency CFDs.
Comparing online brokers BlackBull Markets and HFM for deposits and withdrawals: BlackBull supports ACH/SEPA, Skrill, and bank wires, while HFM supports Skrill and bank wires but not ACH/SEPA; neither broker supports PayPal, and Visa/Mastercard availability is unspecified for both.
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 | BlackBull Markets | HFM | |
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| Trust Score | 77 | 85 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HFM Review |
| Broker Screenshots | BlackBull Markets | HFM | |
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| Broker Gallery (click to expand) |
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| Regulation | BlackBull Markets | HFM | |
|---|---|---|---|
| Trust Score | 77 | 85 | |
| Year Founded | 2014 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | BlackBull Markets | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | BlackBull Markets | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 344 | |
| Forex Pairs (Total) | 72 | 38 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | BlackBull Markets | HFM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.16 | 1.8 | |
| All-in Cost EUR/USD - Active | 0.76 | 1.1 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | BlackBull Markets | HFM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | BlackBull Markets | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 109 | 38 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | HFM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 5 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | BlackBull Markets | HFM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | HFM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | BlackBull Markets | HFM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | BlackBull Markets Review | HFM Review |
| Overall | BlackBull Markets | HFM | |
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| Trust Score | 77 | 85 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HFM Review |
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