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 and HFM are well-known online brokers with different trust profiles. According to ForexBrokers.com, a Trust Score of 90–99 is highly trusted and 80–89 is trusted. OANDA earns a 92 (highly trusted) and was founded in 1996, while HFM scores 85 (trusted) and was founded in 2010.
In terms of regulation, OANDA holds 7 Tier-1 licenses and 0 Tier-2 licenses, whereas HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses. Neither OANDA nor HFM is publicly traded or operates as a bank, which is useful context when comparing their oversight and risk profiles.
| 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 |
OANDA and HFM are both rated 4 out of 5 stars for commissions and fees, but neither is a clear low-cost leader. OANDA ranks #30 out of 36 brokers in this category, while HFM ranks slightly better at #28 out of 36. For everyday forex trading, OANDA’s costs are generally on the high side, with a July 2024 average spread of 1.61 pips on EUR/USD under its default pricing. HFM’s standard accounts are also a bit above average, with the company citing a typical spread of 1.2 pips, though it does not provide a clear time period for that figure.
OANDA does offer a core pricing option that can lower spreads, but it adds a commission of $5 per $100,000 traded per side, which works out to about $10 per round turn on a standard lot. This account also requires a $10,000 minimum deposit. In practice, the lower spread can partly offset the commission, but the final all-in cost is only slightly better than OANDA’s commission-free pricing. HFM’s Zero account is similar in concept, with an effective spread of 0.7 pips after commission, though again this is not presented as an average. In simple terms, both brokers can be competitive in certain setups, but neither consistently undercuts the cheapest brokers in the market.
One area where OANDA stands out is flexibility: it allows very small trade sizes, down to 1 unit, and it also offers rebate tiers for active traders in some regions. OANDA further publishes trailing spread data to improve pricing transparency, though the lack of fixed-period averages makes direct comparisons harder. HFM does not provide the same level of detail in the information shown here, so for price-focused traders, OANDA may feel more transparent even if HFM appears slightly better ranked on fees.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.68 | 1.8 |
| All-in Cost EUR/USD - Active | 1.69 | 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.
When it comes to range of investments, OANDA gives traders more choice than HFM. OANDA offers 4,172 tradeable symbols and 69 forex pairs, compared with HFM’s 344 symbols and 38 forex pairs. Both brokers support forex trading as either a CFD or spot contract, and both offer copy trading. OANDA also stands out for its wider access to exchange-traded securities, with the ability to buy U.S. and international shares directly, while HFM does not offer these non-CFD stock products.
OANDA also has the edge in crypto access, since it lets clients buy actual cryptocurrency as well as cryptocurrency CFDs, while HFM only offers crypto CFDs. That broader product list is reflected in ratings and rankings too: OANDA scores 4.5 out of 5 for Range of Investments and ranks #20 out of 36 brokers, while HFM scores 4 out of 5 and ranks #28. Overall, OANDA is the better pick for traders who want more asset types and a larger selection.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 344 |
| Forex Pairs (Total) | 69 | 38 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | 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.
OANDA and HFM both give traders a wide range of platform choices, including free demo accounts for practice, their own in-house platforms, web-based trading, Windows desktop downloads, copy trading, and access to both MetaTrader 4 and MetaTrader 5. Each broker also lets users trade directly from charts, which can make placing orders easier for active traders.
When it comes to trading platforms and tools, both OANDA and HFM earn 4 out of 5 stars. Still, OANDA has a stronger standing in independent rankings, placing #16 out of 36 brokers in the Trading Platforms and Tools category, while HFM ranks #33. For traders comparing online brokers, OANDA may have the edge if platform quality and tool variety are a top priority, though HFM still covers the key features most people look for.
| Feature |
OANDA
|
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) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 89 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and HFM both make it easy to trade on the go, since each offers iPhone and Android apps, price alerts, trendline drawing, and auto-saving for chart drawings. Neither broker offers watchlist syncing between the mobile app and online account, so changes made on one device do not carry over to the other.
Where OANDA stands out is in charting and overall mobile app quality. Its app includes 30 technical studies, compared with just 5 at HFM, giving traders more tools to analyze price moves. OANDA is also rated 5 stars for mobile trading apps and ranks #7 out of 36 brokers at ForexBrokers.com, while HFM is rated 4 stars and ranks #32, making OANDA the stronger choice for mobile trading.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 5 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
OANDA and HFM both give traders a solid set of market research tools, including daily market commentary, news from major sources like Bloomberg, Reuters, and Dow Jones, Autochartist-based analysis, sentiment tools, and an economic calendar with global events. Neither broker offers Trading Central tools or TipRanks research, but HFM does add Acuity Trading tools such as Signal Centre, which OANDA does not.
When it comes to research quality, OANDA comes out ahead with a 5-star rating and a #4 ranking out of 36 brokers from ForexBrokers.com, while HFM holds a 4-star rating and places #18. In short, both brokers cover the basics well, but OANDA has the edge overall for market research, while HFM offers a slightly different mix of tools for traders who want extra idea generation.
| Feature |
OANDA
|
HFM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking to learn the basics of trading, both OANDA and HFM offer a wide range of education. Each broker provides forex and CFD learning material, including at least 10 pieces focused on these markets, plus monthly educational webinars and a solid library of beginner-friendly videos. They also both offer at least 10 advanced videos, so traders who want to keep learning can find content beyond the basics. In practical terms, this means both brokers give new traders plenty of ways to start building knowledge through articles, videos, and live online sessions.
That said, OANDA comes out ahead for education overall. It holds a 5-star Education rating and ranks #18 out of 36 brokers at ForexBrokers.com, while HFM is rated 4 stars and ranks #29. For beginners, the difference may come down to how easy it feels to find clear, useful learning material as you progress. Both are strong choices for trader education, but OANDA has the edge if education is a top priority.
| Feature |
OANDA
|
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 OANDA is better than HFM. OANDA finished with an overall rank of #13, while HFM finished with an overall rank of #27.
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
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HFM
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| Trust Score | 92 | 85 |
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Online broker OANDA supports buying actual (delivered) cryptocurrency and trading crypto CFDs, whereas HFM offers cryptocurrency exposure only via CFDs.
Comparing OANDA vs HFM for deposit and withdrawal methods: OANDA offers ACH/SEPA and PayPal (not available at HFM), both support Skrill and bank wire transfers, and Visa/Mastercard availability is not specified for either broker.
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 | OANDA | HFM | |
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| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | HFM Review |
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| Regulation | OANDA | HFM | |
|---|---|---|---|
| Trust Score | 92 | 85 | |
| 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 (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| 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) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 344 | |
| Forex Pairs (Total) | 69 | 38 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | 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 | OANDA | HFM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.68 | 1.8 | |
| All-in Cost EUR/USD - Active | 1.69 | 1.1 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | OANDA | 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) | Yes | Yes | |
| cTrader | No | No |
| Trading Tools | OANDA | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 38 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 5 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | HFM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | HFM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | OANDA | HFM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review | HFM Review |
| Overall | OANDA | HFM | |
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| Trust Score | 92 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | HFM Review |
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