Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA, established in 1996, and HFM, which began its operations in 2010, are both online brokers that offer trading services. Neither of them is publicly traded or operates as a bank. When it comes to regulatory standing, these brokers display distinct levels of trustworthiness. OANDA holds 7 Tier-1 licenses, the type regarded as highly reliable and has earned a Trust Score of 93 out of 99 on ForexBrokers.com, categorizing it as highly trusted.
On the other hand, HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses, which are still respectable but fall short of OANDA's credentials. HFM carries a Trust Score of 86 out of 99, placing it in the “trusted” category. While both brokers are considered reliable, OANDA slightly edges out HFM in terms of overall regulatory backing and trust score.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing online brokers OANDA and HFM, both received a four-star rating for commissions and fees. However, they differ in the structure and transparency of these charges. OANDA is known for relatively high trading costs, with bid/ask spreads comparable to brokers like FOREX.com and FxPro. The average non-core pricing spread for the EUR/USD pair was 1.61 pips, although OANDA offers a core pricing model with lower spreads starting at 0.4 pips, which includes a $5 commission per $100,000 currency traded. This makes the total effective cost slightly more competitive at 1.4 pips after accounting for commission.
HFM, on the other hand, reports a typical spread of 1.2 pips for its standard accounts, though this is not tied to a specific timeframe, potentially affecting transparency. The HFM Zero account provides a more cost-effective option with an effective spread of 0.7 pips after commissions, yet this value, too, lacks an average reference, which could affect precise cost evaluations.
In the ForexBrokers.com ranking, HFM is ahead of OANDA, placed at #31 out of 63 brokers for commissions and fees, while OANDA is slightly behind at #34. Despite the similar star ratings, the rankings indicate slight differences in overall cost effectiveness and positioning in the market.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 1.2 |
| All-in Cost EUR/USD - Active | 1.61 | 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.
When it comes to forex trading, both OANDA and HFM provide options to engage via CFDs or spot contracts, offering enthusiasts a way into the currency market. OANDA shines with an impressive total of 3,928 tradeable symbols compared to HFM's 500, but when it comes to forex pairs, HFM leads with 102 available options against OANDA’s 68. Both brokers, however, don't offer direct exchange-traded securities from U.S. or international markets, so users will need to seek other brokers for stock trading. They do offer copy trading, a feature that can be advantageous for novices or those looking to mirror successful strategies.
Cryptocurrency enthusiasts will find OANDA more accommodating for direct crypto purchases, whereas HFM limits their crypto offerings to derivatives only. Despite these differences, both firms are rated equally well for their range of investments, each earning 4 out of 5 stars. However, in terms of ranking, OANDA stands at #27 while HFM follows at #36 as evaluated by ForexBrokers.com, reflecting a slight edge in OANDA's favor for diversity in investment offerings. Whether you're prioritizing forex pair variety or the capability to trade cryptocurrencies directly, these two brokers offer solid platforms with unique strengths.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 500 |
| Forex Pairs (Total) | 68 | 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) | Yes | 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.
OANDA and HFM both excel in providing a comprehensive suite of trading platforms and tools designed to cater to various trading needs. Each broker offers simulated trading through free virtual demo accounts, allowing newcomers and experienced traders to practice without monetary risk. Both companies have developed their proprietary platforms to enhance the trading experience and also support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. This versatility extends further with both OANDA and HFM offering web-based trading platforms and Windows desktop downloads, ensuring accessibility for traders who prefer trading across different devices.
When it comes to additional features, both brokers support copy trading but do not support DupliTrade or ZuluTrade. Unique advantages include OANDA's edge in charting capabilities, offering an impressive 431 drawing tools compared to HFM's 30. Trading directly from stock charts is available with both, but HFM provides an extra column for watch lists, making it a little more customizable. Although both share a four-star rating for their Trading Platforms and Tools, OANDA has a higher ranking at #15, compared to HFM at #42, according to ForexBrokers.com. This suggests a slight edge for OANDA in terms of overall platform performance and tool offerings.
| Feature |
OANDA
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 15 |
| Charting - Drawing Tools (Total) | 431 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and HFM both offer comprehensive mobile trading apps available on iPhone and Android devices, providing traders with convenient access to their platforms. Each app allows users to receive stock and forex price alerts and offers robust charting capabilities with 30 different technical studies. Additionally, both apps support drawing trendlines and viewing charts across various time frames like daily, weekly, or intraday. A notable feature shared by both is the auto-save functionality for chart drawings, ensuring work is never lost. Users can also create watchlists with real-time quotes, although neither platform offers syncing of watchlist symbols between the mobile app and the online account.
Despite these similarities, there are differences in user ratings and rankings. OANDA earns a perfect 5-star rating for its mobile trading app, securing the #7 spot out of 63 brokers in the Mobile Trading Apps category on ForexBrokers.com. Meanwhile, HFM holds a 4-star rating and is ranked #39 in the same category. This indicates that while both brokers provide valuable tools for mobile trading, OANDA's app garners more appreciation from users, potentially due to superior features or user experience.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing OANDA and HFM for their market research offerings, both brokers provide daily market commentary and access to forex news from leading sources such as Bloomberg, Reuters, and Dow Jones. They also offer the popular Autochartist tools for technical and fundamental analysis. However, neither broker includes tools from Trading Central or market research from TipRanks or Acuity Trading. Both OANDA and HFM offer sentiment-based trading tools and maintain economic calendars to keep traders informed of upcoming global events.
Despite these similarities, OANDA and HFM differ in their overall research ratings and rankings. OANDA scores higher with a 5-star rating and ranks 5th among 63 brokers reviewed by ForexBrokers.com, while HFM has a 4-star rating, holding the 20th position. This distinction may influence traders looking for a broker with comprehensive research capabilities and widely recognized prestige in the industry.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and HFM both excel in providing educational resources for beginners interested in forex and CFDs trading. They each offer over ten educational pieces that include articles, videos, and webinars focused on these subjects. Both platforms host online educational webinars at least once a month and maintain a searchable archive of past webinars, making it easy for users to access previous sessions at their convenience. For beginner traders, OANDA and HFM present more than ten educational videos tailored to newcomers, covering essential trading topics to help novices get started with confidence. Notably, both platforms have rich investor dictionaries, each with definitions for over 50 investing terms, aiding new traders in grasping industry jargon.
When it comes to advanced trading topics, both OANDA and HFM provide more than ten video resources each, catering to more experienced traders seeking to deepen their knowledge. While both brokers deliver solid educational content, OANDA stands out with a 5-star rating for education, compared to HFM's 4-star rating. In terms of industry rankings, OANDA is positioned at #22 out of 63 brokers in the Education category, showcasing its commitment to quality educational offerings. On the other hand, HFM is ranked at #37, indicating room for improvement despite its comprehensive educational resources. Overall, both brokers are excellent options for beginners, but OANDA's slightly higher ratings might give it an edge for those prioritizing educational excellence.
| Feature |
OANDA
|
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 OANDA is better than HFM. OANDA finished with an overall rank of #12, while HFM finished with an overall rank of #30.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 86 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
OANDA provides options to purchase both actual cryptocurrencies and cryptocurrency derivatives, whereas HFM only offers cryptocurrency derivatives without the option to buy the actual cryptocurrencies.
OANDA stands out with its diverse funding options including ACH, SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, while HFM offers Skrill, Visa, Mastercard, and bank wires but lacks both ACH, SEPA transfers and PayPal methods.
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 | OANDA | HFM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | HFM Review |
| Broker Screenshots | OANDA | HFM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | OANDA | HFM | |
|---|---|---|---|
| Trust Score | 93 | 86 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 500 | |
| Forex Pairs (Total) | 68 | 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) | Yes | 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 | OANDA | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.61 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | OANDA | 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) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 15 | |
| Charting - Drawing Tools (Total) | 431 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | HFM | |
|---|---|---|---|
| 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | OANDA Review | HFM Review |
| Overall | OANDA | HFM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 86 | |
| Winner | check_circle | ||
| Review | OANDA Review | HFM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill