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. FXCM ranks #17 of 63 brokers for this category at ForexBrokers.com, while HFM ranks #28 of 63. Overall trading costs are a bit above the industry average for both. For EUR/USD, FXCM’s time‑weighted average spreads for May 2024 were 0.78 pips on its EU/UK/Australia standard offering and 1.38 pips with its St. Vincent and the Grenadines entity. FXCM’s commission-based account averaged 0.28 pips (excluding commission) in May 2024, which works out to roughly 0.74 pips all-in after commission. HFM lists a typical 1.2‑pip spread on standard accounts and a 0.7‑pip effective spread on its Zero account, but these are not stated as time‑weighted averages and no date range is provided.
FXCM also offers volume-based discounts. Its five‑tier Active Trader Rebate Program (not available in the U.K. or EU) pays rebates from $5 to $25 per million traded if you trade at least $10 million per month. Requirements differ by entity; in the U.K., for example, a $25,000 balance and at least $50 million in monthly volume can reduce the commission to $2.50 per side ($5 round‑turn), yielding an effective EUR/USD spread of about 0.78 pips based on a 0.28‑pip core price. As with many brokers, FXCM’s spreads can widen during rollover or during abnormal market conditions.
Bottom line: On standard accounts, FXCM’s published average spread of 0.78 pips (EU/UK/AU) is tighter than HFM’s stated typical 1.2 pips, though FXCM’s SVG average is higher at 1.38 pips. On commission pricing, HFM’s stated 0.7‑pip effective spread looks a touch lower than FXCM’s ~0.74 pips, but FXCM provides dated, time‑weighted averages while HFM does not, so actual costs may vary. High‑volume traders who qualify for FXCM discounts may shrink costs further; otherwise, expect both brokers to sit slightly above the industry average.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average spread (EUR/USD) - Standard account | 0.9 | 1.8 |
| All-in Cost EUR/USD - Active | 0.8 | 1.1 |
| Non-wire bank transfer | 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 vs HFM: Both brokers let you trade forex either as CFDs or spot. FXCM lists 440 total tradeable symbols and 46 currency pairs, while HFM offers 500 symbols and an extensive 102 forex pairs. Neither broker provides direct access to exchange-traded stocks on U.S. or international exchanges, so you can’t buy shares like Apple or Vodafone outright. Both FXCM and HFM support copy trading.
For crypto, each broker offers cryptocurrency CFDs but not actual crypto purchases. In ForexBrokers.com’s Range of Investments scores, FXCM earns 3.5 out of 5 stars and ranks #21 of 63 brokers, while HFM earns 4 out of 5 stars and ranks #28. In short, HFM stands out for the number of forex pairs, whereas FXCM posts a stronger category rank despite fewer pairs.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 500 |
| Forex Pairs (Total) | 46 | 102 |
| 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 vs HFM: Both brokers offer free demo (paper) accounts, their own proprietary platforms, and Windows desktop and web-based trading. Each supports copy trading and lets you place trades directly from charts. Both work with MetaTrader 4 (MT4), but only HFM offers MetaTrader 5 (MT5); FXCM does not support MT5.
According to ForexBrokers.com, FXCM earns 5 stars for Trading Platforms and Tools and ranks #4 out of 63 brokers, while HFM earns 4 stars and ranks #33. If you need MT5, HFM is the pick. If you want higher-rated platform tools and an in-house platform that stands out, FXCM is the stronger choice. You can test either broker with a free demo to see which platform feels right for you.
| 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 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and HFM both offer iPhone and Android trading apps with price alerts for forex and other markets. A key difference is watchlist syncing: FXCM syncs watchlists between the mobile app and your online account, while HFM does not. According to ForexBrokers.com, FXCM’s Mobile Trading Apps earn 4.5 out of 5 stars and rank 16th out of 63 brokers, whereas HFM’s apps score 4 out of 5 stars and rank 32nd.
For mobile charting, FXCM provides 59 technical studies compared with HFM’s 30. Both apps let you draw trendlines and automatically save your drawings. If you want deeper chart tools and seamless watchlist syncing, the FXCM mobile app is the stronger choice. If you mainly need core trading features with alerts on iPhone or Android, HFM’s app works well.
| 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 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FXCM and HFM both deliver daily market commentary, real-time forex news from top-tier sources (like Bloomberg, Reuters, or Dow Jones), sentiment tools showing long/short positioning, and an economic calendar to track key events. The main differences are in added research tools: FXCM integrates Trading Central and offers TipRanks insights but does not include Autochartist or Acuity Trading. HFM takes the opposite route by providing Autochartist for technical ideas, while skipping Trading Central, TipRanks, and Acuity Trading.
For research quality, FXCM earns 4.5 stars and ranks #11 out of 63 brokers at ForexBrokers.com, while HFM scores 4 stars and ranks #18. If you value Trading Central analysis and TipRanks stock research alongside forex news, FXCM is the stronger fit. If you prefer Autochartist’s pattern recognition and trade ideas, HFM is the better match.
| 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 | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing FXCM vs HFM for beginner education, both brokers offer forex and CFD learning libraries that meet the minimum threshold of 10 educational pieces. Each hosts client webinars at least once a month and provides at least 10 beginner-focused videos, plus at least 10 advanced videos for when you’re ready to go beyond the basics. In short, either platform can help you get started and continue growing your skills with videos and live sessions.
The difference shows up in the ratings: FXCM earns 4.5 out of 5 stars and ranks #13 of 63 brokers for Education on ForexBrokers.com, while HFM scores 4 out of 5 stars and ranks #29. That edge suggests FXCM is the stronger choice if education quality and structure are your top priorities, though HFM remains a solid option with regular webinars and a complete set of beginner content.
| 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
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HFM
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|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 86 |
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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.
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0 of 5| Overall Rating | FXCM | HFM | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
| Broker Screenshots | FXCM | HFM | |
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| 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 (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 SCA 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. 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) - Standard account | 0.9 | 1.8 | |
| All-in Cost EUR/USD - Active | 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 | 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 | 15 | |
| 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 Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| 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 | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FXCM Review | HFM Review |
| Overall | FXCM | HFM | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
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