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 | 1.2 | 1.03 |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HFM and TopFX are online brokers that both let you trade forex (via CFDs or spot). HFM lists about 500 tradeable symbols and 102 currency pairs, while TopFX offers roughly 655 symbols and 60 pairs. Neither broker provides direct, exchange-traded shares on U.S. or international exchanges. Both support copy trading, and while neither sells actual cryptocurrency, each offers crypto derivatives for market exposure.
For range of investments, HFM is rated 4 out of 5 stars and ranks 37th out of 63 brokers, edging TopFX, which scores 3.5 stars and ranks 47th. Choose HFM if a wider selection of forex pairs matters most; pick TopFX if you prefer a larger overall catalog by total symbol count. In both cases, you’re trading CFDs/spot rather than owning real shares or crypto.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 655 |
| Forex Pairs (Total) | 102 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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 check the key boxes for trading platforms and tools. Each broker offers paper trading with a free demo account, web-based and Windows desktop platforms, MetaTrader 4 (MT4), copy trading, trading directly from charts, and watchlists with 7 columns. Both earn 4 out of 5 stars for Trading Platforms and Tools.
There are a few differences to note. HFM provides a proprietary in-house platform and supports MetaTrader 5 (MT5), while TopFX does not offer a proprietary platform and does not support MT5. Neither broker integrates DupliTrade or ZuluTrade. For charting, HFM lists 30 drawing tools compared to 15 at TopFX. In ForexBrokers.com’s category rankings, HFM is placed #43 out of 63 brokers, with TopFX close behind at #46.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HFM vs TopFX mobile trading apps: both brokers offer iPhone and Android apps with similar core features. You can set forex or stock price alerts, create watchlists with real-time quotes, and use 30 built-in technical studies. Charting is flexible on both apps, letting you draw trendlines, switch among intraday, daily, and weekly time frames, and have your drawings auto-saved. One limitation to note is watchlist symbol syncing: neither HFM nor TopFX syncs watchlists between the mobile app and the online account.
Ratings are close but not identical. Both HFM and TopFX earn 4 stars for Mobile Trading Apps, according to ForexBrokers.com. However, HFM ranks higher overall at #40 out of 63 brokers, while TopFX is #52. If you want similar charting tools and alerts on the go, either app will do; if rankings influence your choice, HFM holds an edge.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | 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 | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing HFM vs TopFX on education, HFM clearly offers more. HFM provides a full learning center with at least 10 forex and CFD pieces, monthly client webinars, and a searchable archive of past sessions. It also includes 10+ beginner videos, 10+ advanced videos for when you’re ready to level up, and an investor dictionary with 50+ terms. By contrast, TopFX does not meet these benchmarks: it lacks a sizable library, does not host monthly webinars, offers no searchable webinar archive, and does not provide 10+ beginner or advanced videos, nor a large investing glossary.
If you want structured, ongoing education to build trading skills from the ground up, HFM is the stronger pick. ForexBrokers.com rates HFM 4 out of 5 stars for Education and ranks it #37 of 63 brokers, while TopFX earns 3 out of 5 stars and ranks #62 of 63. Experienced traders who don’t need learning tools may still consider TopFX, but newcomers will likely find HFM’s education more helpful.
| Feature |
HFM
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 67 |
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Both online brokers, HFM and TopFX, do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
In comparing online brokers HFM and TopFX, neither offers ACH or SEPA transfers, while only TopFX supports PayPal for transactions; both brokers accept Skrill, Visa, Mastercard, and bank wire options for deposit or withdrawal of account funds.
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/Central Bank 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. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | 1.2 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HFM | TopFX | |
|---|---|---|---|
| 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) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | HFM | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HFM | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HFM | TopFX | |
|---|---|---|---|
| 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 | |
| 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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