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 |
When comparing commissions and fees, BlackBull Markets offers trading costs that are about average for the industry while providing different options depending on the account type. For example, the Prime account at BlackBull Markets features an average spread on the EUR/USD of 0.16 with an all-in cost of 0.76 when adding a per-side commission of 0.3 pips or $6 per 10,000 traded. The Standard account, on the other hand, is commission-free but has higher spreads, although it does not require a minimum deposit. Meanwhile, the ECN Institutional account caters to active traders willing to deposit at least $20,000, offering commission rates of $2 per side or $4 per round turn.
In contrast, HFM's trading costs are slightly above the industry average. Their standard trading accounts typically exhibit spreads of about 1.2 pips, though this is not specified within a particular date range, suggesting the actual average spread could be higher. The Zero account offers an effective spread of 0.7 pips after adding commissions, though these figures should be interpreted cautiously as they are not average values.
In terms of rankings, BlackBull Markets shines with a 4.5-star rating for commissions and fees, being ranked #18 out of 63 brokers according to ForexBrokers.com. On the other hand, HFM receives a slightly lower 4-star rating and ranks #31 in the same category. These ratings and rankings indicate BlackBull Markets might be the preferred choice for traders focused on optimized trading cost structures.
| 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.
When comparing the investment offerings of BlackBull Markets and HFM, both brokers provide opportunities for forex trading through CFDs or spot contracts. However, BlackBull Markets stands out with a staggering selection of 26,000 tradeable symbols compared to HFM's 500. While HFM offers a slightly larger number of forex pairs with 102 compared to BlackBull’s 72, BlackBull extends its range by offering exchange-traded securities on both U.S. and international exchanges, allowing clients to invest in major stocks like Apple and Vodafone directly. In contrast, HFM does not provide options for buying individual stocks on these exchanges. Both platforms, however, provide copy trading capabilities and only offer cryptocurrency derivatives, not actual cryptocurrencies.
The differences in offerings contribute to BlackBull Markets’ higher rating of 5 stars for its range of investments, compared to HFM's 4-star rating. This distinction is further observed in rankings by ForexBrokers.com, where BlackBull Markets is placed at a commendable 6th out of 63 brokers, while HFM holds the 36th position. For investors seeking a vast array of investment opportunities beyond just forex pairs, BlackBull Markets presents a broader and more diverse portfolio than HFM.
| 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.
Both BlackBull Markets and HFM provide free virtual demo accounts for traders interested in simulated trading, making them great choices for newcomers and experienced traders wanting to fine-tune their strategies. While HFM stands out with a proprietary trading platform, both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms suitable for seasoned traders. Additionally, each broker supports Windows-based desktop downloads and web-based trading platforms, ensuring versatility and accessibility for a variety of trading preferences.
BlackBull Markets and HFM each offer copy trading, but only BlackBull Markets provides the ZuluTrade option. Chart functionality differs slightly, with BlackBull Markets supporting 60 drawing tools compared to HFM’s 30. Both platforms allow traders to execute trades directly from stock charts, enhancing real-time trading efficiency. BlackBull Markets also excels with a ForexBrokers.com ranking of #29 for trading platforms and tools, outperforming HFM’s #42, yet both brokers receive a solid four-star rating. Despite varying features, the choice between these two brokers ultimately depends on individual trading needs and preferences.
| 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.
When comparing the mobile trading apps of BlackBull Markets and HFM, both brokers offer apps compatible with iPhone and Android devices, providing users with flexibility in device choices. They each support essential features like stock or forex price alerts and allow drawing trendlines on charts. Users can also explore 30 technical studies for charting and view multiple time frames, ensuring comprehensive analysis on the go. However, BlackBull Markets stands out with its watchlist symbol syncing feature, making it more convenient for users to manage their watchlists seamlessly across platforms, a feature HFM does not currently provide.
In terms of user experience, both apps allow the creation of watchlists with real-time quotes and auto-save chart drawings, contributing to a smooth trading experience. Despite these similarities, BlackBull Markets edges out with a slightly higher ranking of 31st compared to HFM's 39th position out of 63 brokers in the Mobile Trading Apps category, as recognized by ForexBrokers.com. Both apps have been rated four out of five stars, indicating a solid trading experience overall. These aspects help potential users make informed decisions based on their specific needs and preferences.
| 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
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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) | No | No | |
| 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) | 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 | 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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