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 are both evaluated similarly for their commission and fee structures, each receiving four out of five stars. However, FXCM is ranked higher at #24 by ForexBrokers.com, compared to HFM's rank of #31 out of 63 brokers. A closer look at their pricing reveals subtle distinctions that can influence a trader's decision-making.
FXCM's forex trading fees are slightly above the industry norm. The average spread for the EUR/USD pair in May 2024 was 0.78 pips for its EU, U.K., and Australia platforms, while its St. Vincent and the Grenadines entity averaged a higher 1.38 pips. For those in commission-based accounts, the average spread was as low as 0.28 pips, excluding commissions. FXCM offers an Active Trader Rebate Program, available outside the U.K. and EU, where rebates range from $5 to $25 per million traded, depending on the tier and monthly trading volume. Effective spreads can be reduced significantly for high-volume traders through this program.
Similarly, HFM's trading costs are noted slightly above the industry standard with typical spreads for standard accounts starting at 1.2 pips, although these figures lack a specific date range for accuracy. For traders using the Zero account, the effective spread is approximately 0.7 pips after commissions, but this figure is not an average. While both brokers offer comparable rating and ranking for their commissions and fees, specific trading requirements and available discounts at FXCM may provide an edge for high-volume traders seeking potential cost savings.
| 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 and HFM both offer forex trading through CFDs or spot contracts, catering to traders looking to delve into the forex market. FXCM provides 440 tradeable symbols, while HFM offers a slightly larger selection with 500 symbols. When it comes to forex pairs, FXCM supplies 43 options, whereas HFM grants access to a wider range of 102 pairs. However, neither platform supports the trading of exchange-traded securities on U.S. or international exchanges, restricting users from purchasing individual stocks such as Apple or Vodafone.
For cryptocurrency enthusiasts, both FXCM and HFM allow trading through cryptocurrency derivatives rather than offering actual cryptocurrencies. Additionally, both platforms support copy trading, which may attract investors looking to mimic successful traders' strategies. Despite FXCM's overall range of investments being rated at 3.5 stars compared to HFM's 4 stars, and FXCM ranking at #47 versus HFM's #36 in ForexBrokers.com's list, both brokers provide a variety of investment opportunities to meet diverse trading needs.
| Feature |
FXCM
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 500 |
| Forex Pairs (Total) | 43 | 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 and HFM are both reputable online brokers offering a variety of trading platforms and tools for traders. Both brokers provide simulated trading through free virtual demo accounts, making it easy for beginners to practice before diving into live trading. FXCM and HFM each offer proprietary platforms developed in-house, alongside popular platforms like MetaTrader 4 (MT4). While both brokers support platforms across Windows desktop and web browsers, HFM has the edge by supporting MetaTrader 5 (MT5), whereas FXCM does not. However, when it comes to copy trading, FXCM provides access to ZuluTrade, unlike HFM.
Charting capabilities for both brokers offer direct trading from stock charts. FXCM provides 10 drawing tools, while HFM offers 30, giving traders more flexibility for technical analysis. Watch list customization is another differentiator; FXCM allows for 13 columns or fields compared to HFM’s 7. In terms of rankings, FXCM is highly rated with 5 stars for Trading Platforms and Tools and ranks 6th out of 63 brokers on ForexBrokers.com. HFM, while still strong, holds 4 stars and is ranked 42nd, suggesting that FXCM may offer a more comprehensive trading platform experience.
| 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.
Both FXCM and HFM offer iPhone and Android apps for mobile trading, but there are some key differences to consider. Both platforms provide stock or forex price alerts, and you can create real-time watchlists. However, while FXCM offers watchlist symbol syncing, allowing your mobile and online accounts to seamlessly integrate, HFM lacks this feature. FXCM also stands out in its charting capabilities, offering users 59 technical studies compared to HFM's 30. Both brokers enable users to draw trendlines and view multiple time frames on their charts, as well as automatically save drawing annotations.
When it comes to ratings, FXCM slightly edges out with a 4.5-star rating for its mobile trading app, while HFM holds a 4-star rating. According to ForexBrokers.com, FXCM ranks #16 out of 63 brokers, whereas HFM is positioned at #39. If charting features and integrated account management are important to your trading experience, FXCM might be the preferable choice. However, both apps offer solid foundations for mobile trading.
| 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
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 86 |
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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.
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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 (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) | FXCM | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | 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) | No | No |
| Investments | FXCM | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 500 | |
| Forex Pairs (Total) | 43 | 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 | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | FXCM Review | HFM Review |
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