Written by ForexBrokers.com
In this head to head comparison of HFM vs Spreadex, 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.
Comparing online brokers HFM and Spreadex, both firms offer trading services without being publicly traded or classified as banks. Founded in 2010, HFM holds two Tier-1 licenses, a number indicating a solid track record of regulatory compliance in top financial jurisdictions, along with three Tier-2 licenses. With a Trust Score of 86 from ForexBrokers.com, HFM is considered a trusted choice for traders seeking a reliable platform.
On the other hand, Spreadex, established in 1999, holds one Tier-1 license and lacks Tier-2 licenses, placing it on a different regulatory standing compared to HFM. With a Trust Score of 71, Spreadex is viewed as having an average risk, according to ForexBrokers.com's rating system. The differences in licensing and trust scores reflect their varying levels of regulatory oversight and perceived trust in the trading community.
| Feature |
HFM
|
Spreadex
|
|---|---|---|
| Year Founded | 2010 | 1999 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
HFM’s commissions and fees sit slightly above the industry average. The broker cites a typical 1.2-pip spread on its Standard account, but no date range is provided, so the true average could be higher. Its Zero account quotes an effective spread around 0.7 pips after commission, though that figure isn’t an average. For commissions and fees, HFM is rated 4 out of 5 stars and ranked #32 out of 63 brokers by ForexBrokers.com.
Spreadex publishes dated spread data. In January 2024, EUR/USD averaged 0.81 pips, and the 0.6‑pip minimum was available 60% of the time that month. Spreadex also earns 4 out of 5 stars for commissions and fees, with a better ranking of #28 out of 63 at ForexBrokers.com.
In short, Spreadex’s recent EUR/USD average of 0.81 pips compares well to HFM’s stated 1.2-pip typical spread on Standard accounts, while HFM’s Zero account can be sharper at 0.7 pips after commission—keeping in mind that’s not an average. Actual trading costs will depend on your account type and market conditions.
| Feature |
HFM
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.2 | 0.81 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HFM and Spreadex both let you trade forex as CFDs or spot, and each supports cryptocurrency CFDs (but not actual, delivered crypto). Neither broker offers real exchange-traded shares in the U.S. or internationally. The big difference is breadth: Spreadex lists about 10,000 tradeable instruments across markets, while HFM offers around 500. If forex depth matters most, HFM provides 102 currency pairs versus 52 at Spreadex. HFM also includes copy trading, which Spreadex does not.
For range of investments, Spreadex is rated 5 out of 5 stars and ranks 14th of 63 brokers at ForexBrokers.com, while HFM holds 4 out of 5 stars and ranks 37th of 63. Choose Spreadex for the widest overall market selection, and consider HFM if you want more forex pairs plus copy trading.
| Feature |
HFM
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 10000 |
| Forex Pairs (Total) | 102 | 52 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| 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.
HFM and Spreadex both make it easy to test strategies with a free demo account and each offers a proprietary trading platform you can use in your browser. HFM goes further on platform choice, with a Windows desktop download, plus both MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Spreadex does not provide a Windows desktop download and doesn’t support MT4 or MT5. Copy trading is available at HFM, while Spreadex does not offer it.
For charting, both brokers let you place trades directly from the chart. Specific counts for built-in technical indicators and watchlist columns aren’t disclosed. In independent testing by ForexBrokers.com, both HFM and Spreadex earned 4 stars for Trading Platforms and Tools. Within the category rankings, HFM placed 43rd out of 63 brokers, while Spreadex ranked 47th out of 63.
| Feature |
HFM
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 15 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HFM and Spreadex both offer iPhone and Android trading apps, plus price alerts for stocks and forex. Neither app syncs watchlists with the online account. For charting, HFM includes 30 technical studies while Spreadex doesn’t specify a number. Both apps let you draw trendlines, but only HFM auto-saves your drawings; Spreadex does not.
Both brokers earn 4 out of 5 stars for their mobile trading apps. In ForexBrokers.com’s rankings of 63 brokers, HFM is placed at #40 and Spreadex at #47. If you value more built-in studies and saved chart drawings, HFM has the edge; if you just need core charting and alerts on iOS or Android, Spreadex covers the basics.
| Feature |
HFM
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
HFM and Spreadex offer a well-rounded market research experience for everyday traders. Both provide daily market commentary, real-time forex news from top-tier sources like Bloomberg and Reuters, and access to Autochartist for technical analysis. Each broker also includes a sentiment tool that shows the ratio of long vs. short positions and an economic calendar to track major events. Neither broker offers Trading Central tools, TipRanks research, or Acuity Trading (Signal Centre).
In expert ratings, both HFM and Spreadex earn 4 stars for Research. However, HFM ranks higher at #20 out of 63 brokers on ForexBrokers.com, while Spreadex sits at #32. If you want similar features with a slight edge in overall research standing, HFM may be the better pick; Spreadex remains a solid alternative with comparable tools and news coverage.
| Feature |
HFM
|
Spreadex
|
|---|---|---|
| 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.
For beginner traders, HFM and Spreadex both provide forex and CFD education with at least 10 beginner-focused videos. HFM goes further by offering at least 10 advanced videos and running client education webinars at least once per month, giving new traders a chance to learn live and ask questions. Spreadex does not host monthly educational webinars and does not match HFM’s depth for advanced videos, but it still supplies a helpful set of beginner lessons to cover the basics.
Both brokers earn 4 out of 5 stars for Education. However, HFM ranks #37 out of 63 brokers on ForexBrokers.com for Education, ahead of Spreadex at #45. If you want a deeper learning path with regular webinars and advanced content, HFM is the stronger choice; if you only need straightforward beginner video lessons, Spreadex can fit the bill.
| Feature |
HFM
|
Spreadex
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that HFM is better than Spreadex. HFM finished with an overall rank of #30, while Spreadex finished with an overall rank of #39.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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Spreadex
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| Trust Score | 86 | 71 |
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In the HFM vs Spreadex comparison, neither online broker offers the ability to buy actual (delivered) cryptocurrencies, but both provide cryptocurrency CFD trading for speculative exposure.
HFM vs Spreadex: neither supports ACH/SEPA or PayPal for deposits/withdrawals, both accept bank wire transfers, HFM additionally supports Skrill while Spreadex does not, and card options via Visa/Mastercard are 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 | HFM | Spreadex | |
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| Trust Score | 86 | 71 | |
| Winner | check_circle | ||
| Review | HFM Review | Spreadex Review |
| Broker Screenshots | HFM | Spreadex | |
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| Regulation | HFM | Spreadex | |
|---|---|---|---|
| Trust Score | 86 | 71 | |
| Year Founded | 2010 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | HFM | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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 | No |
| Tier-2 Licenses (Trusted) | HFM | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | HFM | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 10000 | |
| Forex Pairs (Total) | 102 | 52 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| 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 | HFM | Spreadex | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.2 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | HFM | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | HFM | Spreadex | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | HFM | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 58 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | HFM | Spreadex | |
|---|---|---|---|
| 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 | HFM | Spreadex | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | HFM | Spreadex | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | HFM Review | Spreadex Review |
| Overall | HFM | Spreadex | |
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| Trust Score | 86 | 71 | |
| Winner | check_circle | ||
| Review | HFM Review | Spreadex Review |
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