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 and HFM are well-known online brokers with different profiles. FXCM was founded in 1999 and is publicly traded, while HFM, founded in 2010, is privately held; neither broker is a bank. On ForexBrokers.com’s 99-point Trust Score, FXCM scores 95 (highly trusted) and HFM scores 85 (trusted). For reference, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
In terms of regulation, FXCM holds 4 Tier-1 licenses (considered highly trusted) and 2 Tier-2 licenses (trusted). HFM holds 2 Tier-1 and 3 Tier-2 licenses. Bottom line: FXCM has a stronger top-tier regulatory footprint and a higher Trust Score, while HFM remains a trusted, well-regulated option.
| 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 is slightly more expensive than the industry average for forex trading, but its pricing can improve for active traders. On its standard accounts, EUR/USD spreads averaged 0.78 pips for its EU, U.K., and Australia offerings in May 2024, while the St. Vincent and the Grenadines entity averaged 1.38 pips. FXCM’s commission-based accounts averaged 0.28 pips before commissions during the same period, and eligible traders may also qualify for rebate discounts that can lower costs further. FXCM is rated 4.5 out of 5 stars and ranks #17 out of 36 brokers for commissions and fees.
HFM’s trading costs are also a little above the industry average, but its pricing is straightforward. The broker says its standard accounts typically have spreads around 1.2 pips, though no date range is provided, so actual average costs may be higher. Its Zero account shows an effective spread of 0.7 pips after commission, although this is not presented as an average. HFM is rated 4 out of 5 stars and ranks #30 out of 36 brokers for commissions and fees.
Overall, FXCM comes out ahead of HFM for commissions and fees, mainly because its pricing can be lower on commission-based accounts and even better for high-volume traders who qualify for rebates. HFM is still competitive in some cases, but FXCM offers the better mix of pricing and cost-saving options for active forex traders.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average spread (EUR/USD) - Spread-only account | 0.9 | 1.8 |
| All-in Cost EUR/USD - Raw spread account | 0.8 | 1.1 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and HFM both give traders access to forex trading through CFDs or spot contracts, and both also support copy trading and cryptocurrency CFDs. Neither broker lets clients buy real shares on U.S. or international exchanges, and neither offers delivered crypto. When it comes to choice, FXCM has the wider selection, with 440 tradeable symbols and 46 forex pairs, compared with HFM’s 344 symbols and 38 forex pairs.
That broader lineup helps FXCM come out ahead in range of investments. FXCM is rated 4.5 out of 5 stars for this category and ranks #21 out of 36 brokers on ForexBrokers.com. HFM still offers a solid range, but it trails FXCM with a 4-star rating and a #30 ranking.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 344 |
| Forex Pairs (Total) | 46 | 38 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | 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.
FXCM and HFM both give traders a solid set of platform choices, including free demo accounts, a proprietary platform, Windows desktop software, web trading, copy trading, MetaTrader 4, and the ability to place trades directly from charts. For everyday users, that means either broker can work well if you want to practice first, trade from a browser, or use familiar tools like MT4.
The main difference is that HFM also offers MetaTrader 5, while FXCM does not. In ForexBrokers.com’s Trading Platforms and Tools category, FXCM scores higher overall, with 5 stars and a #4 rank out of 36 brokers, compared with HFM’s 4 stars and #36 rank. If platform quality and tools matter most, FXCM has the edge, while HFM may appeal to traders who specifically want MT5.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 115 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and HFM both give mobile traders the basics they need, including iPhone and Android apps, price alerts, trendline tools, and auto-saving chart drawings. Both platforms also make it easy to stay on top of the markets while away from a desktop, so either one can cover everyday trading needs on the go.
Where FXCM pulls ahead is in charting and account syncing. Its mobile app offers 59 technical studies, compared with just 5 for HFM, and FXCM also syncs watchlists between the mobile app and online account, which HFM does not. These extras help FXCM earn a higher mobile trading app rating of 4.5 stars and a stronger ranking of #16 out of 36 brokers, while HFM comes in at 4 stars and #35.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 5 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FXCM and HFM both give traders a solid range of market research tools, including daily market commentary, news from top sources such as Bloomberg, Reuters, and Dow Jones, sentiment data, and an economic calendar for tracking major global events. FXCM stands out for its use of Trading Central and TipRanks, while HFM does not offer those two services.
HFM, on the other hand, includes Autochartist and Acuity Trading tools, which FXCM does not provide. Based on ForexBrokers.com, FXCM earns a 4.5-star research rating and ranks #11 out of 36 brokers, while HFM has a 4-star rating and ranks #18, making FXCM the stronger pick overall for market research.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXCM and HFM both give beginners a lot to work with when it comes to learning forex and CFDs. Each broker offers at least 10 educational pieces focused on these markets, runs online client webinars at least once a month, and provides 10 or more beginner videos as well as 10 or more advanced videos. That means both platforms can help new traders learn the basics and keep building their skills over time.
Even so, FXCM comes out ahead for education overall. It earns 4.5 out of 5 stars for Education and ranks #13 out of 36 brokers on ForexBrokers.com, while HFM scores 4 out of 5 stars and ranks #31. For beginners who want more highly rated learning support, FXCM has the edge, though HFM still offers a solid set of educational tools.
| Feature |
FXCM
|
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 FXCM is better than HFM. FXCM finished with an overall rank of #10, while HFM finished with an overall rank of #27.
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 | 85 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Online brokers FXCM and HFM do not support buying actual delivered cryptocurrencies, but both offer cryptocurrency CFDs for trading.
Compared to HFM, which supports Skrill and bank wire deposits/withdrawals but not ACH/SEPA or PayPal (Visa/Mastercard availability not specified), FXCM offers broader funding options including ACH/SEPA, PayPal, Skrill, and bank wires.
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 |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
| Broker Screenshots | FXCM | HFM | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | FXCM | HFM | |
|---|---|---|---|
| Trust Score | 95 | 85 | |
| 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 (FSA 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, FSRA, or CMA 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 | 344 | |
| Forex Pairs (Total) | 46 | 38 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | 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 | FXCM | HFM | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 0.9 | 1.8 | |
| All-in Cost EUR/USD - Raw spread account | 0.8 | 1.1 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FXCM | HFM | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| Trading Platforms | FXCM | HFM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | FXCM | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 115 | 38 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 5 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FXCM | HFM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | HFM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FXCM | HFM | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | FXCM Review | HFM Review |
| Overall | FXCM | HFM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
XM
Pepperstone
FP Markets
Tickmill
HFM Markets