Written by ForexBrokers.com
In this head to head comparison of HFM vs FXOpen, 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.
HFM, founded in 2010, and FXOpen, established in 2003, are both online brokers offering trading services, yet they differ significantly when it comes to trust ratings and regulatory licenses. While neither company is publicly traded or operates as a bank, they each hold two highly trusted Tier-1 licenses, underscoring their commitment to safety. However, HFM further distinguishes itself by holding three additional trusted Tier-2 licenses, whereas FXOpen holds none.
This difference is reflected in their Trust Scores as rated by ForexBrokers.com, where HFM earns a score of 86, positioning it within the "trusted" category. In contrast, FXOpen scores a 76, placing it in the "average risk" range. Both brokers maintain a presence in the trading industry, yet HFM emerges as more reliable according to these metrics.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
When comparing HFM and FXOpen on the basis of commissions and fees, there are several aspects to consider. HFM presents slightly higher trading costs than the industry average for its standard accounts, with typical spreads of 1.2 pips according to the company. However, it's important to note that these figures are not based on average spreads, which means traders might encounter variations. Their Zero account offers an effective spread of 0.7 pips post-commission, but, like the standard account, this isn't based on an average figure.
For FXOpen, specific average spread data isn't readily available, making it a bit more challenging to gauge the total trading costs at a glance. Despite this, both HFM and FXOpen have been rated 4 out of 5 stars for their commissions and fees, indicating that they are relatively competitive within the market, albeit with distinct pricing structures.
In terms of industry rankings provided by ForexBrokers.com, HFM stands at the 31st position out of 63 brokers for the Commissions and Fees category. FXOpen, on the other hand, is positioned at 44th. These rankings reflect how each broker stacks up in terms of pricing, potentially guiding traders who are looking for cost-efficient options in their trading ventures.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| 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 | Yes |
| 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 range of investments offered by HFM and FXOpen, there are several key differences to consider. HFM impresses with a broader selection, providing access to 500 tradeable symbols, including 102 forex pairs. In contrast, FXOpen offers 87 tradeable symbols with only 25 forex pairs. Both brokers make it possible for clients to trade forex as CFDs or spot contracts. However, neither HFM nor FXOpen offers exchange traded securities on U.S. or international exchanges, meaning clients cannot purchase stocks like Apple or Vodafone directly.
For investors interested in cryptocurrency, both brokers offer trading in cryptocurrency derivatives but not the actual digital coins themselves. Copy trading is another feature available through both HFM and FXOpen, allowing clients to mimic the trades of successful traders. HFM receives a respectable four-star rating for its range of investments, ranking 36th out of 63 brokers according to ForexBrokers.com. Meanwhile, FXOpen garners a three-star rating, landing at 62nd in the same category. Overall, HFM provides a more expansive selection, making it a more versatile choice for those focusing on varied investment opportunities.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 87 |
| Forex Pairs (Total) | 102 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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). |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, both HFM and FXOpen cater to traders with a wide array of options. Both brokers provide simulated trading through free virtual demo accounts, allowing users to practice without risk. HFM stands out with its proprietary platform developed in-house, while FXOpen does not have an in-house platform. However, both brokers offer compatibility with Windows desktop downloads and web-based platforms. Additionally, they support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), alongside offering copy trading. Notably, FXOpen supports ZuluTrade, unlike HFM.
Charting tools are an essential part of evaluating both brokers. HFM offers more flexibility with 30 drawing tools compared to FXOpen's 15. Both platforms allow direct trading from stock charts and provide watch lists with 7 columns. Despite these offerings, both HFM and FXOpen receive a 4-star rating for their trading platforms and tools. In the ForexBrokers.com rankings, HFM is placed 42nd, slightly ahead of FXOpen, which holds the 53rd position. Consequently, traders may find HFM preferable for its proprietary tools and broader charting capabilities, whereas FXOpen might appeal to those who value the ZuluTrade feature.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | No | Yes |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of HFM and FXOpen, both platforms offer apps for iPhone and Android devices, ensuring traders can access their accounts on the go. Each app includes helpful features such as stock and forex price alerts, the ability to draw trendlines on charts, and multiple time frame views to enhance trading strategies. However, where they differ is in their ability to sync watchlists between the mobile app and clients’ online accounts—neither broker supports this feature currently. Both HFM and FXOpen provide an equal number of technical studies, 30 in total, for their charting tools.
One major point of divergence is in the auto-saving of chart drawings. HFM's app automatically saves drawings made on stock or forex charts, providing ease of use and convenience, whereas FXOpen lacks this feature. Both brokers allow users to create watchlists with real-time quotes to stay on top of market movements. When rated for their mobile trading apps, both HFM and FXOpen receive four out of five stars. However, HFM ranks higher at #39 compared to FXOpen’s ranking at #54 out of 63 brokers as rated by ForexBrokers.com, indicating a slight edge in user satisfaction.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both HFM and FXOpen provide daily market commentary and offer forex news sourced from major outlets like Bloomberg and Reuters, making it easy for traders to stay informed. However, HFM stands out by providing access to Autochartist's technical analysis tools, which FXOpen lacks. While neither broker incorporates tools from Trading Central or Acuity Trading, HFM enhances its offering with a sentiment-based trading tool, giving traders deeper insight into market sentiment, unlike FXOpen. Both platforms feature economic calendars, helping users keep track of important global news events.
When it comes to ratings, HFM shines with a 4-star rating for research, positioning itself as a more resourceful option compared to FXOpen, which has a 3-star rating. According to ForexBrokers.com, HFM ranks at #20 out of 63 brokers in the Research category, while FXOpen lags behind at #63. This ranking underscores HFM’s more comprehensive approach to market research, making it a more attractive choice for traders seeking detailed insights and effective tools.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| 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 it comes to supporting beginners with educational resources, HFM appears to be a more comprehensive choice compared to FXOpen. HFM provides a variety of learning tools, including more than ten educational pieces focused on forex and CFDs, in addition to hosting monthly webinars designed to help beginners improve their trading skills. Furthermore, HFM offers a readily accessible library of past webinars alongside a selection of instructional videos. Their commitment is reflected in their wide range of beginner and advanced videos, easily accommodating both new traders and those with more experience. With an educational rating of four out of five stars and a rank of 37 out of 63 brokers, HFM demonstrates a strong dedication to comprehensive trader education.
In contrast, FXOpen presents fewer educational resources for new traders diving into forex or CFD markets. While FXOpen does not meet the threshold of offering at least ten dedicated educational pieces on these subjects or providing regular educational webinars, they do offer an investor dictionary with over 50 investing terms, aligning with resources offered by HFM. Despite this, their absence of structured video content and webinar support places them at a disadvantage. With a rating of three stars and an educational ranking of 58 out of 63, FXOpen's offerings may be more limited for beginners seeking extensive educational backing. Overall, HFM emerges as the more educationally friendly broker for those starting out in trading.
| Feature |
HFM
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| 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 63 of the best forex brokers, our research and account testing finds that HFM is better than FXOpen. HFM finished with an overall rank of #30, while FXOpen finished with an overall rank of #54.
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
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 76 |
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Both HFM and FXOpen do not provide the option to purchase actual delivered cryptocurrencies, but they do allow trading in cryptocurrency derivatives.
Both HFM and FXOpen provide options for depositing and withdrawing account funds via Skrill, Visa, Mastercard, and bank wires, but neither supports ACH, SEPA, or PayPal transfers.
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 | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HFM Review |
| Broker Screenshots | HFM | FXOpen | |
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| Regulation | HFM | FXOpen | |
|---|---|---|---|
| Trust Score | 86 | 76 | |
| 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 | 2 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | HFM | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| 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 | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 87 | |
| Forex Pairs (Total) | 102 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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). |
| Cost | HFM | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| 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 | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | HFM | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | 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 | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | HFM | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| 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 | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | HFM | FXOpen | |
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| Trust Score | 86 | 76 | |
| Winner | check_circle | ||
| Review | HFM Review |
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