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 and HFM are both online brokers catering to traders seeking diverse investment opportunities. Founded in 2014, BlackBull Markets operates with a ForexBrokers.com Trust Score of 78, placing it in the average risk category. It holds one Tier-1 license, which indicates a higher level of regulation, ensuring some safety for traders. Despite not being publicly traded or a bank, BlackBull Markets has been growing since its inception in 2014 and remains a noteworthy option for traders.
On the other hand, HFM, established in 2010, carries a Trust Score of 86, marking it as a trusted broker. With two Tier-1 licenses and three Tier-2 licenses, HFM demonstrates a more substantial regulatory standing compared to BlackBull Markets. Like BlackBull Markets, HFM is not publicly traded, nor is it a bank. This regulatory depth and experience within the industry may provide traders with a more secure trading environment, reflecting its higher trust rating.
| 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 |
Comparing commissions and fees, BlackBull Markets comes out leaner than HFM for many traders. BlackBull Markets earns 4.5 out of 5 stars for costs and ranks #19 of 63 brokers on ForexBrokers.com, while HFM holds 4 out of 5 stars and ranks #32 of 63. In short: BlackBull Markets is around the industry average overall but can be very competitive with the right account choice; HFM’s pricing is slightly above average.
At BlackBull Markets, the Prime account is the standout for active traders: the average EUR/USD spread was 0.16 in March 2024, translating to an all-in cost of about 0.76 pips once the commission is included. Prime requires a $2,000 minimum and charges $3 per side ($6 round turn) per lot. The Standard account has no commission and no minimum deposit but uses wider spreads. There’s also an ECN Institutional tier for deposits of $20,000 or more, with lower commissions of $2 per side ($4 round turn) per lot.
HFM’s pricing skews higher. The company indicates a typical 1.2-pip spread on its standard accounts (no date range provided, so the true average may be worse). Its Zero account advertises an effective 0.7-pip spread after commission, but that figure is not an average. Put simply, if you prioritize tighter spreads with transparent commission, BlackBull Markets’ Prime account often undercuts HFM’s comparable options.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 0.71 | 1.2 |
| All-in Cost EUR/USD - Active | 0.71 | 0.7 |
| Active Trader or VIP Discounts | Yes | 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.
In the BlackBull Markets vs HFM comparison for range of investments, both brokers let you trade forex as CFDs or spot contracts and both support copy trading. BlackBull Markets stands out for overall market access, with about 26,000 tradeable symbols versus HFM’s 500, plus cryptocurrency derivatives at both brokers (neither offers delivered crypto). If you care most about currency choice, HFM lists more forex pairs (102 vs 72), which may appeal to active FX traders.
For those wanting real shares, BlackBull Markets offers exchange-traded U.S. and international stocks, while HFM does not. Reflecting this breadth, BlackBull Markets earns 5 stars and ranks #6 out of 63 for Range of Investments at ForexBrokers.com, compared with HFM’s 4 stars and #37 ranking. Choose BlackBull for the widest instrument lineup and access to actual shares; pick HFM if your focus is a larger selection of forex pairs within a slimmer product list.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 500 |
| Forex Pairs (Total) | 72 | 102 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
BlackBull Markets and HFM both check the key boxes for trading platforms and tools: each supports MetaTrader 4 and MetaTrader 5, offers web and Windows desktop platforms, and provides a free demo account for simulated (paper) trading. If you want a broker-built experience, HFM adds a proprietary platform, while BlackBull focuses on third-party suites. Copy trading is available at both brokers; only BlackBull integrates ZuluTrade, and neither supports DupliTrade. You can also place trades directly from charts with either broker.
For charting, BlackBull offers 60 drawing tools versus HFM’s 30, while watchlists include six columns at BlackBull and seven at HFM. According to ForexBrokers.com, both earn 4 out of 5 stars for Trading Platforms and Tools; among 63 brokers, BlackBull ranks #31 and HFM ranks #43. Choose BlackBull if ZuluTrade and more drawing tools matter to you, or pick HFM if you prefer a proprietary platform and slightly richer watchlist fields.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 109 | 15 |
| Charting - Drawing Tools (Total) | 60 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
BlackBull Markets and HFM both deliver capable mobile trading apps for iPhone and Android. Each app supports price alerts, real-time quote watchlists, and well-rounded charting: 30 technical studies, trendline drawing, multiple time frames, and auto‑saved drawings. Whether you’re tracking markets on the go or fine‑tuning entries on a chart, the core tools are available on both.
The standout difference is watchlist syncing. BlackBull Markets syncs watchlists between the mobile app and your online account, so changes carry over automatically; HFM does not. Both earn 4 stars for Mobile Trading Apps, but ForexBrokers.com ranks BlackBull Markets higher (#33 out of 63) than HFM (#40). If cross‑device continuity matters, BlackBull Markets has the edge; if you don’t need syncing, HFM’s mobile experience is otherwise similar.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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.
Both BlackBull Markets and HFM cater to traders with a keen interest in market research by providing daily market commentary. When it comes to sourcing forex news from top-tier outlets such as Bloomberg and Reuters, HFM has an edge over BlackBull Markets, which does not offer such features. Both brokers, however, are equipped with technical analysis tools like Autochartist, but neither provides tools from Trading Central. Additionally, they're on equal footing with sentiment-based trading tools, which reveal the ratio of long to short positions in various currency pairs. Despite the availability of economic calendars to track global news events, both brokers lack collaborations with TipRanks or Acuity Trading.
In terms of ratings, both platforms are deemed competent with a 4-star rating for research services. However, in rankings, BlackBull Markets slightly outshines HFM, holding the 18th spot out of 63 brokers as rated by ForexBrokers.com, while HFM follows closely at 20th. This comparative analysis underscores that while each broker has its distinct strengths in market research services, they both provide a solid range of tools to help traders stay informed and make educated trading decisions.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | 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, both BlackBull Markets and HFM provide a solid foundation for learning about forex and CFDs. Each platform offers more than 10 educational pieces, including articles and videos, specifically aimed at understanding these markets. Moreover, both brokers conduct monthly online webinars with a searchable archive to assist clients who may have missed live sessions or wish to revisit certain topics. They also provide beginner-friendly educational videos that cover essential trading concepts clearly and accessibly, helping new traders get a firm grasp of trading basics.
For those seeking more advanced knowledge, both BlackBull Markets and HFM cater to seasoned traders with advanced educational videos. Additionally, they provide investor dictionaries with definitions of over 50 investing terms, a useful tool for those looking to expand their terminology. While both companies receive a commendable four-star rating for education, BlackBull Markets is ranked slightly higher at #29 compared to HFM's ranking of #37 by ForexBrokers.com. This suggests a marginal edge in the educational aspects for BlackBull Markets, making them a slightly preferable choice for some beginners and seasoned investors aiming to deepen their understanding of trading.
| Feature |
BlackBull Markets
|
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 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 #24, while HFM finished with an overall rank of #30.
BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 78 | 86 |
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Neither BlackBull Markets nor HFM offers the option to purchase actual (delivered) cryptocurrency, but both provide the ability to trade cryptocurrency derivatives.
Both BlackBull Markets and HFM allow fund deposits and withdrawals via Skrill, Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, or PayPal 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 | BlackBull Markets | HFM | |
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| Trust Score | 78 | 86 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HFM Review |
| Broker Screenshots | BlackBull Markets | HFM | |
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| Regulation | BlackBull Markets | HFM | |
|---|---|---|---|
| Trust Score | 78 | 86 | |
| 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 (SFC 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 SCA 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 | 500 | |
| Forex Pairs (Total) | 72 | 102 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | BlackBull Markets | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.71 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.71 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | BlackBull Markets | HFM | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | BlackBull Markets | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 109 | 15 | |
| Charting - Drawing Tools (Total) | 60 | 30 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | 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 | BlackBull Markets | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | 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 | BlackBull Markets | 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 | BlackBull Markets Review | HFM Review |
| Overall | BlackBull Markets | HFM | |
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| Trust Score | 78 | 86 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HFM Review |
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