Written by ForexBrokers.com
In this head to head comparison of HFM vs TopFX, 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.
HFM and TopFX were both founded in 2010 and neither is publicly traded or operates as a bank. When comparing their regulatory standings, HFM stands out with two Tier-1 licenses and three Tier-2 licenses, showcasing a higher level of trust and compliance. In contrast, TopFX holds one Tier-1 license and no Tier-2 licenses, indicating a more limited regulatory framework.
According to ForexBrokers.com, HFM holds a Trust Score of 86, placing it in the "trusted" category. Meanwhile, TopFX has a Trust Score of 67, which falls into the "high risk" range. These scores highlight the differences in their perceived reliability, with HFM offering more peace of mind for traders concerned about regulatory assurance.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| 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 | 1 |
HFM and TopFX both earn 4 out of 5 stars for commissions and fees. In ForexBrokers.com’s category rankings, HFM is #32 out of 63 brokers, while TopFX is #41. In a head-to-head comparison, TopFX publishes dated, account-specific averages that land near the industry norm, whereas HFM’s published figures are not labeled as averages and don’t include a date range—making them harder to compare directly.
HFM’s trading costs are slightly above the industry average. For its Standard account, the company cites a typical spread of 1.2 pips, but it does not provide a timeframe, so the true average could be higher. HFM’s Zero account lists an effective spread of 0.7 pips after commission, yet this figure is also not presented as an average, so it should be viewed as indicative rather than a reliable benchmark.
TopFX offers two pricing models on MetaTrader and cTrader. The RAW account is commission-based at EUR 2.75 per side (EUR 5.50 per round turn per standard lot). In July 2024, the EUR/USD averaged a 0.33-pip spread on RAW; when you add the commission (about 0.55 pips per round turn), the all-in cost came to roughly 0.88 pips—about in line with the industry average. The ZERO account is commission-free but had higher average spreads of 1.03 pips on EUR/USD in July 2024. Minimum deposit requirements vary by payment method.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average spread (EUR/USD) - Standard account | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing HFM vs TopFX for range of investments: TopFX lists more total tradeable symbols (655 vs 500), while HFM offers a larger selection of forex pairs (102 vs 60). Both brokers support forex trading as CFDs or spot contracts, offer copy trading, and provide cryptocurrency CFDs, but neither lets you buy real crypto or exchange-traded shares on U.S. or international stock exchanges.
For ratings, ForexBrokers.com scores HFM 4 stars and ranks it 37th out of 63 for Range of Investments, while TopFX earns 3.5 stars and ranks 47th. Pick HFM if you value more forex pairs; choose TopFX if you want a bigger overall list of instruments.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 655 |
| Forex Pairs (Total) | 102 | 60 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | 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.
HFM and TopFX both cover the basics well for traders who want flexible platforms and tools. Each broker offers a free demo account for paper trading, copy trading, a web-based platform, and a Windows desktop platform. Both support MetaTrader 4 (MT4) and let you place trades directly from charts. Where they differ is depth of platform choice: HFM adds a proprietary in-house platform and supports MetaTrader 5 (MT5), while TopFX does not offer its own platform and does not support MT5.
In independent ratings for trading platforms and tools, both HFM and TopFX earn 4 out of 5 stars. Looking closer at rankings, HFM is placed #43 out of 63 brokers by ForexBrokers.com, while TopFX is #46. If you want MT5 or an extra in-house platform option, HFM is the better fit. If MT4 with web and desktop access and copy trading meets your needs, TopFX keeps pace.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HFM and TopFX both deliver mobile trading apps for iPhone and Android. Each app supports forex and stock price alerts, offers 30 technical studies for charting, lets you draw trendlines, and automatically saves your chart drawings. One notable limitation is the same for both: watchlists in the mobile app do not sync with your online account, so changes don’t carry over between platforms.
When it comes to quality scores, both HFM and TopFX earn 4 stars for their mobile trading apps. However, their positions in ForexBrokers.com’s Mobile Trading Apps ranking differ: HFM is placed 40th out of 63 brokers, while TopFX sits at 52nd. If third-party rankings matter to you, HFM holds a slight edge, but feature-wise the two apps are very closely matched.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
In this HFM vs TopFX research comparison, HFM stands out for offering daily market commentary, while TopFX does not. Both brokers stream forex news from top-tier sources such as Bloomberg, Reuters, Dow Jones, or similar. Each provides Autochartist tools and a sentiment indicator that shows the share of long vs. short positions, and both include an economic calendar covering major global events.
The big difference is that TopFX includes Trading Central research, which HFM does not. HFM also does not offer TipRanks or Acuity Trading; availability of those at TopFX isn’t specified. According to ForexBrokers.com, HFM scores 4 stars for Research and ranks #20 out of 63 brokers, while TopFX earns 3 stars and ranks #61. If you want daily commentary and broader in-house research, HFM is the better fit; if you prioritize access to Trading Central, consider TopFX.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner trading education, HFM delivers a clear edge. It runs client webinars at least once a month and offers 10+ beginner videos, plus 10+ advanced videos, giving new traders a step-by-step path from basics to more complex forex and CFD topics. TopFX, by contrast, does not host monthly webinars and does not meet the 10-video threshold for either beginner or advanced lessons, so its learning path is leaner.
These differences show up in third-party evaluations: HFM earns 4 out of 5 stars for Education and ranks #37 out of 63 brokers at ForexBrokers.com, while TopFX scores 3 out of 5 stars and ranks #62. If you want structured videos and regular live sessions to build confidence, HFM is the stronger choice; TopFX may suit traders who need only a light introduction and plan to learn elsewhere.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 TopFX. HFM finished with an overall rank of #30, while TopFX finished with an overall rank of #62.
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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TopFX
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|---|---|---|
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| Trust Score | 86 | 67 |
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HFM vs TopFX: both brokers offer cryptocurrency CFD trading, but neither supports buying actual (delivered) cryptocurrencies, making them options for crypto CFD traders rather than those seeking to purchase real coins.
HFM vs TopFX deposit and withdrawal comparison: neither offers ACH/SEPA; HFM lacks PayPal but supports Skrill and bank wire, while Visa/Mastercard for HFM and PayPal, Skrill, Visa/Mastercard, and bank wires for TopFX are not specified.
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 | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HFM Review | TopFX Review |
| Broker Screenshots | HFM | TopFX | |
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| Regulation | HFM | TopFX | |
|---|---|---|---|
| Trust Score | 86 | 67 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | TopFX | |
|---|---|---|---|
| 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 | No | |
| 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) | HFM | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 655 | |
| Forex Pairs (Total) | 102 | 60 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | 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 | HFM | TopFX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | HFM | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | HFM | TopFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes |
| Trading Tools | HFM | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | TopFX | |
|---|---|---|---|
| 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 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | HFM | TopFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | ||
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HFM | TopFX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | HFM | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | HFM | TopFX | |
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| Trust Score | 86 | 67 | |
| Winner | check_circle | ||
| Review | HFM Review | TopFX Review |
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