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 account | 0.71 | 1.2 |
| All-in Cost EUR/USD - Active | 0.71 | 0.7 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
BlackBull Markets vs HFM: both brokers support forex trading as CFDs and spot, and both offer copy trading. BlackBull Markets lists about 26,000 tradeable symbols across asset classes, while HFM offers roughly 500. In forex pairs, HFM lists more (102) compared with BlackBull’s 72. For shares, BlackBull lets clients buy exchange-traded U.S. and international stocks (not CFDs), such as Apple on Nasdaq or Vodafone on the London Stock Exchange; HFM does not offer direct share dealing. Neither broker supports buying actual cryptocurrency, but both provide cryptocurrency CFDs.
For range of investments, ForexBrokers.com rates BlackBull Markets 5 out of 5 stars and ranks it 6th out of 63 brokers, while HFM earns 4 out of 5 stars and ranks 37th. If you want a very large catalog and access to real shares, BlackBull Markets is the more expansive choice; if your priority is a bigger list of tradable forex pairs specifically, HFM offers more.
| Feature |
BlackBull Markets
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 500 |
| Forex Pairs (Total) | 72 | 102 |
| 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 make it easy to get started with a free demo (paper) account and cover the essentials for everyday trading. Each broker offers Windows desktop and web-based platforms, supports copy trading, and provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can also place trades directly from charts with either broker, which helps streamline analysis and execution.
The key difference is that HFM adds a proprietary, in‑house platform alongside MT4/MT5, while BlackBull Markets sticks to third‑party options. Both earn 4 stars for Trading Platforms and Tools, yet ForexBrokers.com ranks BlackBull Markets higher (#31 of 63) than HFM (#43 of 63). The number of built‑in technical indicators and the available watchlist columns aren’t specified for either broker. If you want an extra, broker-developed platform, HFM may appeal; if you’re focused on MetaTrader with strong chart trading and copy trading, BlackBull Markets is a solid alternative.
| 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 | 15 |
| Charting - Trade From Chart | Yes | Yes |
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, offers 30 built-in technical studies, and lets you draw trendlines on charts with drawings saved automatically. For everyday charting and notifications, they’re evenly matched.
The key difference is watchlist syncing: BlackBull Markets syncs symbols between the mobile app and your online account, while HFM does not. Both earn 4 out of 5 stars for mobile trading apps, but BlackBull Markets ranks higher overall in this category (#33 out of 63) compared with HFM (#40 out of 63). If keeping your watchlists aligned across devices matters, BlackBull Markets has the edge; otherwise, both are strong choices for on-the-go trading.
| 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 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (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 | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing BlackBull Markets and HFM for beginner-friendly trading education, both brokers deliver a strong forex and CFD learning experience. Each easily meets the benchmark of 10 educational pieces, offering at least 10 beginner videos and 10 advanced videos, plus monthly client webinars. This mix of tutorials and recurring webinars helps new traders build a clear foundation and continue into more advanced topics at their own pace.
In terms of recognition, both earn 4 stars for Education from ForexBrokers.com. BlackBull Markets holds a higher category ranking (#29 of 63) than HFM (#37 of 63), which may sway learners who care about standings. If you want a balanced lineup of videos and webinars, either broker works well; if rankings matter, BlackBull Markets has a slight edge.
| 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 #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 |
|
|
| Trust Score | 78 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Comparing BlackBull Markets and HFM for cryptocurrency trading: neither broker offers buying actual (delivered) cryptocurrencies with direct ownership, but both support trading cryptocurrency CFDs.
In a BlackBull Markets vs HFM comparison of deposit and withdrawal methods, neither broker supports ACH, SEPA, or PayPal, both support Skrill and bank wire transfers, and Visa/Mastercard availability is not specified.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | BlackBull Markets | HFM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 78 | 86 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HFM Review |
| Broker Screenshots | BlackBull Markets | HFM | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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 (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 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. 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 | 0.71 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.71 | 0.7 | |
| 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 | No | 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 | 15 | |
| 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 | 30 | |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 78 | 86 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review | HFM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill