Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, founded in 1999, and HFM, established in 2010, are both prominent names in the online brokerage world, yet they differ in their regulatory standings and trustworthiness. FXCM stands out as a publicly traded company, whereas HFM is privately held. Neither broker operates as a bank, but FXCM's public presence on a stock exchange potentially adds a layer of transparency and public accountability. When it comes to regulatory credentials, FXCM holds 4 Tier-1 licenses, signifying high trust, and 2 Tier-2 licenses. In comparison, HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses, indicating a solid level of trust but not quite matching FXCM’s regulatory footprint.
The trust score ratings from ForexBrokers.com further highlight FXCM's stronger position with a score of 95 out of 99, designating it as highly trusted. Meanwhile, HFM, with a score of 86, still earns a trusted label but lands slightly lower. These scores are indicative of the brokers' overall risk perception, where FXCM appears to offer a more secure option for traders seeking confidence in the oversight and stability of their trading platform.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
FXCM and HFM both earn 4 out of 5 stars for commissions and fees. In our rankings, FXCM places #26 out of 63 brokers, while HFM is #32 out of 63. Both brokers price slightly above the industry average overall, but their costs vary by account type, region, and trading volume.
FXCM’s average EUR/USD spread in May 2024 was 0.78 pips on its EU, U.K., and Australia standard accounts, and 1.38 pips via its St. Vincent and the Grenadines entity. Its commission-based accounts posted a low 0.28-pip core spread (May 2024), with an effective cost closer to 0.74 pips once commissions are included. High-volume traders may qualify for the Active Trader Rebate Program (availability varies by region), which pays $5–$25 per million traded. For example, in the U.K., a $25,000 balance and $50 million in monthly volume can bring the commission to $5 round-turn, keeping effective pricing around 0.78 pips based on a 0.28-pip core. As with any broker, spreads can widen during rollover or in volatile markets.
HFM’s trading costs also sit slightly above average. The broker cites a typical 1.2-pip spread on its standard account, but it does not provide a date range, which means actual averages may be higher. Its Zero account lists an effective spread around 0.7 pips after commission, though this figure is not presented as an average. In practice, FXCM’s standard pricing can be tighter than HFM’s standard offering in some regions, while HFM’s Zero account headline may appear slightly cheaper than FXCM’s commission-based effective cost—yet FXCM publishes dated averages, and HFM’s figures are not.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average Spread EUR/USD - Standard | 0.78 | 1.2 |
| All-in Cost EUR/USD - Active | 0.78 | 0.7 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
FXCM vs HFM: Both brokers let you trade forex via CFDs or spot-style contracts. When it comes to variety, HFM offers a wider lineup with about 500 tradeable symbols and 102 currency pairs, while FXCM lists around 440 symbols and 46 pairs. If you want more forex pairs and slightly more overall choice, HFM has the edge.
Neither FXCM nor HFM lets you buy real exchange-traded stocks in the U.S. or abroad, and neither offers direct purchase of cryptocurrencies. Both support copy trading and let you trade crypto through derivatives instead of owning coins. For range of investments, ForexBrokers.com rates FXCM at 3.5/5 (ranked 48 of 63) and HFM at 4/5 (ranked 37 of 63), reflecting HFM’s broader selection.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 500 |
| Forex Pairs (Total) | 46 | 102 |
| 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). | 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.
FXCM vs HFM: Both brokers check key boxes for everyday traders. You get a free demo account, an in-house platform, Windows desktop and web platforms, copy trading, and MetaTrader 4 (MT4). Each also lets you place trades straight from charts. Neither supports DupliTrade.
Key differences: HFM offers MetaTrader 5 (MT5), while FXCM does not. FXCM supports ZuluTrade for social trading; HFM doesn’t. For charting, HFM provides 30 drawing tools versus 10 at FXCM. FXCM’s watch lists are more detailed with 13 fields, compared with 7 at HFM. For platforms and tools, FXCM is rated 5 stars and ranked #6 of 63 brokers by ForexBrokers.com, while HFM holds 4 stars and ranks #43.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 15 |
| Charting - Drawing Tools (Total) | 10 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and HFM both offer mobile trading apps for iPhone and Android with price alerts, real-time watchlists, trendline drawing, multiple time frames, and auto-saving of chart drawings. FXCM adds watchlist syncing between the mobile app and the online account, which HFM lacks. For charting, FXCM provides 59 technical studies compared with HFM’s 30.
Ratings and rankings reflect this gap: FXCM earns 4.5/5 stars and ranks #16 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while HFM scores 4/5 stars and ranks #40. If you want more built-in indicators and watchlists that sync across devices, FXCM’s mobile app has the edge. If you just need core tools on iOS and Android, HFM covers the essentials.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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.
When it comes to understanding the market research offerings of FXCM and HFM, both brokers provide daily market commentary and forex news from leading sources like Bloomberg and Reuters. However, when you delve deeper into their tools, differences start to emerge. FXCM is equipped with Trading Central tools for technical analytics and offers unique insights from TipRanks, which are not available with HFM. Conversely, HFM stands out by incorporating tools from Autochartist, which are missing in FXCM's toolkit. Both brokers provide sentiment-based trading tools and a comprehensive economic calendar to keep traders updated on global events.
Evaluating the overall research capabilities, FXCM takes a slight edge with a 4.5-star rating compared to HFM's 4-star rating, as determined by ForexBrokers.com. Moreover, out of 63 brokers, FXCM ranks at #11, while HFM holds the #20 spot in the Research category. Whether you prioritize advanced technical tools or broader market insights, understanding these distinctions between FXCM and HFM can help you choose the broker that aligns with your trading research needs.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing FXCM and HFM in terms of educational resources for beginners, both brokers excel in offering comprehensive support. FXCM provides more than 10 educational pieces focused on forex or CFDs, such as articles, videos, and webinars. Similarly, HFM offers an equivalent array of educational materials for new traders. Both brokers host frequent online webinars, at least once a month, to engage clients actively. They also maintain searchable archives of these sessions, allowing users to revisit past topics with ease.
The video resources at both FXCM and HFM support newcomers and seasoned traders alike, with a set of over 10 beginner-focused and advanced educational videos. Each broker also supplies an investor dictionary with definitions for more than 50 investing terms, making it easier for beginners to acquaint themselves with trade jargon. Although both platforms deliver a rich educational experience, FXCM stands out with a higher education rating of 4.5 stars, ranked #14 among 63 brokers. In comparison, HFM is rated 4 stars and ranks #37. This distinction may make FXCM a more attractive choice for those prioritizing educational resources in their trading journey.
| Feature |
FXCM
|
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 FXCM is better than HFM. FXCM finished with an overall rank of #15, while HFM finished with an overall rank of #30.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 95 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both FXCM and HFM do not offer the ability to buy actual (delivered) cryptocurrencies, but they do provide options to trade cryptocurrency derivatives.
FXCM offers a wide range of options for depositing and withdrawing funds, including ACH, SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, while HFM provides Skrill, Visa, Mastercard, and bank wire options, but lacks ACH, SEPA transfers, and PayPal support.
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 | FXCM | HFM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
| Broker Screenshots | FXCM | HFM | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | FXCM | HFM | |
|---|---|---|---|
| Trust Score | 95 | 86 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | FXCM | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | 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) | FXCM | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 500 | |
| Forex Pairs (Total) | 46 | 102 | |
| 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). | 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 | FXCM | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | HFM | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | HFM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 15 | |
| Charting - Drawing Tools (Total) | 10 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | 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 | 59 | 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 | FXCM | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | HFM Review |
| Overall | FXCM | HFM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill