Written by ForexBrokers.com
In this head to head comparison of Saxo vs HFM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Saxo and HFM are two online brokers each offering their own set of features and regulatory standards. Founded in 1992, Saxo stands out as a bank and holds an impressive Trust Score of 99 out of 99, as rated by ForexBrokers.com. It holds 7 Tier-1 licenses, which are considered highly trusted, and 1 Tier-2 license. While not publicly traded, Saxo's banking status and strong regulatory backing contribute to its high level of trust.
On the other hand, HFM, established in 2010, carries a Trust Score of 86, falling into the "trusted" category. Unlike Saxo, HFM is not a bank but still maintains 2 Tier-1 licenses and 3 Tier-2 licenses, which signify a good level of regulatory trust. Though younger and with fewer high-trust licenses compared to Saxo, HFM continues to be a reliable choice for traders seeking a stable yet slightly less comprehensive regulatory framework.
| Feature |
Saxo
|
HFM
|
|---|---|---|
| Year Founded | 1992 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
If you’re comparing commissions and fees, Saxo earns 5 out of 5 stars and ranks #9 out of 63 brokers for this category on ForexBrokers.com, while HFM earns 4 out of 5 stars and ranks #32 out of 63. Both primarily charge via spreads on forex, but their typical costs and account structures differ.
Saxo is spread-only on forex (commission-free), with one exception: if you trade under 50,000 units in a month, there’s a $3-per-side ticket fee. As of November 2023, average EUR/USD spreads were 1.1 pips (Classic), 1.0 pips (Platinum), and 0.9 pips (VIP), with minimums about 0.2 pips tighter. Pricing on Platinum and VIP sits closer to the industry average than the entry-level Classic, and can be among the lowest for high-volume or large-balance clients. Account minimums: Classic $0; Platinum $200,000 (AUD 300,000 in Australia); VIP requires a $1,000,000 deposit or qualification via Saxo’s Loyalty Program (about $167 million in forex volume for a 12-month upgrade). You can also reach Platinum with Loyalty points (roughly $40 million in forex trading for a year-long upgrade). Saxo waives custody fees on share trading if you opt into securities lending, and VIP clients get access to exclusive events and Saxo analysts.
HFM’s costs are simpler but generally a bit higher than the industry average. The Standard account’s typical EUR/USD spread is cited at 1.2 pips (no date range provided), while the Zero account’s effective spread is about 0.7 pips after commission, though this figure isn’t presented as an average. In short, active and high-balance traders may find Saxo’s tiered pricing more cost‑effective, while occasional traders might prefer HFM’s straightforward setup despite slightly higher typical costs.
| Feature |
Saxo
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.2 |
| All-in Cost EUR/USD - Active | 0.9 | 0.7 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo vs HFM: for sheer range of investments, Saxo stands out. Saxo lists about 70,000 tradeable symbols and 190 forex pairs, while HFM offers around 500 symbols and 102 forex pairs. Independent ratings reflect the gap: Saxo earns 5 stars for Range of Investments and ranks #3 out of 63 brokers at ForexBrokers.com, compared with HFM’s 4 stars and #37 ranking.
Both brokers support forex trading via CFDs and spot contracts, and both offer copy trading. If you want to buy exchange‑traded securities directly, Saxo lets you trade U.S. and international shares, whereas HFM does not offer direct stock trading. Neither broker lets you buy actual cryptocurrency, but both provide cryptocurrency CFDs. Choose Saxo if you want the broadest menu of markets, or pick HFM if a tighter list focused on CFDs meets your needs.
| Feature |
Saxo
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 500 |
| Forex Pairs (Total) | 190 | 102 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | 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.
Saxo and HFM both check the key boxes for trading platforms and tools: each offers a free demo (paper) account, a proprietary platform, Windows desktop and web-based platforms, copy trading, and the ability to place trades directly from charts. Where they differ most is in overall recognition: ForexBrokers.com rates Saxo 5 stars and ranks it #1 out of 63 brokers for Trading Platforms and Tools, while HFM earns 4 stars and ranks #43.
Platform choice may come down to MetaTrader. HFM supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which is ideal if you rely on those ecosystems. Saxo does not offer MT4 or MT5, instead focusing on its in-house platforms that drive its top-tier rating. If you want MT4/MT5, HFM fits the bill; if you prefer highly rated, proprietary tools with web and Windows access plus a free demo, Saxo stands out.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and HFM both deliver fully featured mobile trading apps for iPhone and Android, including price alerts, trendline drawing, and auto‑saved chart annotations. In independent testing, Saxo earned 5 stars and ranked #2 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while HFM earned 4 stars and ranked #40. Both options cover the basics well, so you can monitor markets and act quickly from your phone.
The key differences show up in charting and watchlists. Saxo offers 64 technical studies versus 30 on HFM, giving more depth for technical analysis. Saxo also syncs watchlists between the mobile app and your online account, so changes carry over automatically; HFM does not support watchlist syncing. If you value deeper indicators and seamless watchlist management, Saxo has the edge. If you need standard tools and alerts without advanced extras, HFM will still get the job done.
| Feature |
Saxo
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Saxo and HFM, both platforms shine in providing essential tools for traders. Saxo and HFM both deliver daily market commentary to keep users updated with the latest insights, and they offer forex news from respected sources like Bloomberg and Reuters. Furthermore, both brokers provide technical analysis tools from Autochartist, ensuring traders have access to sophisticated analysis strategies. However, neither broker currently offers services from Trading Central or Acuity Trading. For sentiment-based trading, both Saxo and HFM present tools to guide decisions based on market sentiment, and each also includes an economic calendar for tracking significant global events.
Despite their similarities, Saxo and HFM differ in overall research quality ratings and rankings. Saxo holds a top spot, rated five stars for research, and is ranked #1 by ForexBrokers.com among 63 brokers. In contrast, HFM receives a four-star rating and is placed 20th on the same list. This distinction underscores Saxo's strength in providing comprehensive research offerings, making it an appealing choice for traders seeking meticulous insights, while HFM still provides strong market research support for its users.
| Feature |
Saxo
|
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 | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Saxo vs HFM for beginners: both brokers provide forex and CFD education with plenty of content to get you started. Each hosts online client webinars at least once a month and offers large video libraries, including 10+ beginner videos and 10+ advanced videos that explain trading basics, strategies, and platform know‑how. If you prefer learning by watching, both options deliver consistent, structured videos and live sessions that can help you build confidence.
Where they differ is overall quality and recognition. Saxo earns 5 stars for Education and ranks #13 out of 63 brokers at ForexBrokers.com, suggesting a more polished, in‑depth learning path for newcomers. HFM earns 4 stars and ranks #37, still providing solid education and regular webinars but trailing Saxo in breadth and polish. If you want the most comprehensive beginner experience, Saxo has the edge; if you’re looking for plenty of practical resources and live training, HFM remains a good pick.
| Feature |
Saxo
|
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 Saxo is better than HFM. Saxo finished with an overall rank of #3, while HFM finished with an overall rank of #30.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
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HFM
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| Trust Score | 99 | 86 |
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In the Saxo vs HFM comparison for cryptocurrency trading, neither broker supports buying actual delivered crypto, but both provide access to cryptocurrency CFDs.
Comparing online brokers Saxo and HFM: neither supports ACH/SEPA or PayPal, both support bank wire deposits and withdrawals, only HFM offers Skrill, and Visa/Mastercard availability is not specified for either.
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 | Saxo | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Saxo Review | HFM Review |
| Broker Screenshots | Saxo | HFM | |
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| Regulation | Saxo | HFM | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1992 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | ||
| 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) | Saxo | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 500 | |
| Forex Pairs (Total) | 190 | 102 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | 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 | Saxo | HFM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.7 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | Saxo | HFM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Saxo | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | 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 | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | 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 | Saxo | HFM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | HFM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | HFM Review |
| Overall | Saxo | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Saxo Review | HFM Review |
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