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Saxo Bank vs HFM 2022

Is Saxo Bank better than HFM? In our analysis of 23 international regulators across 39 brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. HotForex is considered average-risk, with an overall Trust Score of 85 out of 99. Learn more about Trust Score.

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Overall Rating expand_moreexpand_less Saxo Bank HFM
Overall Rating starstarstarstarstar starstarstarstarstar
Commissions & Fees starstarstarstarstar starstarstarstarstar
Offering of Investments starstarstarstarstar starstarstarstarstar
Platform & Tools starstarstarstarstar starstarstarstarstar
Mobile Trading starstarstarstarstar starstarstarstarstar
Research starstarstarstarstar starstarstarstarstar
Education starstarstarstarstar starstarstarstarstar
Trust Score 99 85
Regulation expand_moreexpand_less Saxo Bank HFM
Trust Score 99 85
Year Founded 1992 2010
Publicly Traded (Listed) No No
Bank Yes No
Tier-1 Licenses 6 1
Tier-2 Licenses 1 3
Tier-3 Licenses 0 1
Authorised in European Union Yes Yes
Tier-1 Licenses (High Trust) expand_moreexpand_less Saxo Bank HFM
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust) expand_moreexpand_less Saxo Bank HFM
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
NSE Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes Yes
Tier-3 Licenses (Low Trust) expand_moreexpand_less Saxo Bank HFM
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No Yes
VFSC Authorised (Vanuatu) No No
Investments expand_moreexpand_less Saxo Bank HFM
Forex Trading Yes Yes
Trading - Forex or CFDs Yes Yes
Tradeable Symbols (Total) 40000 1066
Forex Pairs (Total) 182 47
U.S. Stock Trading (Non CFD) Yes No
Int'l Stock Trading (Non CFD) Yes No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Cost expand_moreexpand_less Saxo Bank HFM
Average Spread EUR/USD - Standard 0.8 (August 2020) 1.2 (August 2021)
All-in Cost EUR/USD - Active 0.6 (August 2020) 0.9 (August 2021)
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes No
Execution: Market Maker Yes No
Funding expand_moreexpand_less Saxo Bank HFM
Minimum Initial Deposit $2,000 $5
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Trading Platforms expand_moreexpand_less Saxo Bank HFM
Proprietary Platform Yes No
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 No No
Trading Tools expand_moreexpand_less Saxo Bank HFM
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 7
Charting - Indicators / Studies (Total) 62 15
Charting - Drawing Tools (Total) 20 30
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile Trading expand_moreexpand_less Saxo Bank 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 62 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
Research expand_moreexpand_less Saxo Bank 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
Economic Calendar Yes Yes
Education expand_moreexpand_less Saxo Bank HFM
Has 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 No
Major Forex Pairs expand_moreexpand_less Saxo Bank 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
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Saxo Bank vs HFM Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs HFM.

Does Saxo Bank or HFM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.

Is Saxo Bank or HFM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while HFM holds 1. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than HFM.

Which trading platform is better: Saxo Bank or HFM?

To compare the trading platforms of both Saxo Bank and HFM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both Saxo Bank and HFM offer MetaTrader 4 (MT4).Saxo Bank and HFM both offer copy trading.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to HFM's 47 available pairs. Forex pairs aside, Saxo Bank offers traders access to 40000 CFDs while HFM has 1066 available CFDs, a difference of 38934.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).

Can I trust HFM?

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). HotForex is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA).

Is Saxo Bank good?

Saxo Bank 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.

Is HFM good?

Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, and provides a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average, and its HF mobile app does not yet support trading.

Overall winner: Saxo Bank

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