Written by ForexBrokers.com
In this head to head comparison of HFM vs Xtrade, 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.
Founded in 2010, HFM is a well-established online broker that has garnered a Trust Score of 86 out of 99 from ForexBrokers.com, placing it in the trusted category. HFM is not publicly traded and is not a bank, ensuring its focus remains solely on brokerage services. The company maintains a strong regulatory standing with two Tier-1 licenses, signifying a high level of trust, alongside three Tier-2 licenses that also convey a trusted status.
On the other hand, Xtrade, established in 2003, has a Trust Score of 74 out of 99, indicating an average risk according to ForexBrokers.com. Similar to HFM, Xtrade is not publicly traded and does not operate as a bank. In terms of regulatory backing, Xtrade holds one Tier-1 and one Tier-2 license, marking it as less fortified in terms of licenses compared to HFM. This regulatory comparison showcases the distinct trust and security profiles these brokers offer.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing the online brokers HFM and Xtrade in terms of commissions and fees, HFM stands out with slightly above-average trading costs. Their standard trading accounts typically feature a spread of 1.2 pips, although the company does not specify the time frame for this figure, which could mean the actual spread might be higher. For their Zero account, HFM offers an effective spread of 0.7 pips after commission, but again, this is an effective rate rather than an average. HFM receives a commendable rating of 4 out of 5 stars for its commissions and fees.
In contrast, Xtrade lacks publicly available average spread data, providing less transparency for traders concerning cost expectations. This lack of detailed information is reflected in their rating, with Xtrade receiving a lower score of 2.5 out of 5 stars for commissions and fees.
Overall, HFM is ranked much higher than Xtrade, securing the 31st position out of 63 brokers assessed by ForexBrokers.com in the Commissions and Fees category. Xtrade, on the other hand, lags significantly, sitting at the very bottom of the list at the 63rd position. This comparison highlights the more favorable cost conditions offered by HFM.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing HFM to Xtrade on the diverse spectrum of available investments, HFM takes the lead with a broader selection. With HFM, investors can access a total of 500 tradeable symbols, including an impressive 102 forex pairs, providing a wider array of options for forex enthusiasts. Meanwhile, Xtrade offers investors 482 tradeable symbols and 56 forex pairs, which is slightly less expansive in comparison. Both platforms extend the opportunity to engage in forex trading through CFDs or spot contracts, but neither supports the purchase of exchange-traded securities on U.S. or international exchanges in the form of actual stocks.
In addition to forex pairs, both HFM and Xtrade provide access to cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies. A distinguishing feature between the two is that HFM offers copy trading, which adds an interesting dimension for those looking to replicate trading strategies of successful investors, while Xtrade does not. Based on ForexBrokers.com's evaluations, HFM earns a solid 4 stars for its range of investments and is ranked #36 out of 63 brokers. In contrast, Xtrade garners a rating of 3.5 stars, positioned at #49, marking a slight difference in the breadth of investment options available on each platform.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 482 |
| Forex Pairs (Total) | 102 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
When comparing the trading platforms and tools of HFM and Xtrade, both brokers offer unique advantages tailored to different trader preferences. HFM stands out with its extensive platform offerings, including a proprietary platform, MetaTrader 4, and MetaTrader 5, all accessible through a Windows-based desktop application or a web-based portal. This flexibility is complemented by paper trading capabilities, which allow users to test strategies without risk. Additionally, HFM offers copy trading, enabling traders to replicate strategies from more seasoned investors. For those keen on chart analysis, HFM provides 30 drawing tools and the ability to trade directly from stock charts. Although its charting technical indicators aren't specified, HFM's lineup is robust enough to earn it a 4-star rating and a ranking of 42 out of 63 brokers evaluated by ForexBrokers.com.
Xtrade, on the other hand, also features a proprietary and web-based platform, offering simplicity and ease of use, especially for traders without access to Windows-based systems. While it doesn't support MetaTrader or copy trading, Xtrade excels with 100 drawing tools for charting, providing extensive options for technical analysis. It supports virtual trading with a free demo account and trading directly from stock charts, making it user-friendly. However, its watchlist customization shines with nine column options, though it lacks the MT4 and MT5 platforms favored by many forex traders. With a slightly lower rating of 3.5 stars and a ranking of 58 out of 63 in the ForexBrokers.com evaluation, Xtrade might appeal to newer traders focusing on chart customization and a streamlined user experience.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | N/A |
| Charting - Drawing Tools (Total) | 30 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both HFM and Xtrade offer apps compatible with iPhone and Android devices, providing traders with on-the-go access to their accounts. HFM stands out by offering several advanced features that make it a compelling choice for active traders. One of the key highlights of the HFM app is the ability to set stock or forex price alerts, a feature not available with Xtrade. Additionally, the HFM app supports charting capabilities with 30 technical studies, the ability to draw trendlines, view multiple time frames, and automatically save drawings, features that are lacking in Xtrade's offering. Technical traders will appreciate these functionalities, as they provide greater control and detailed insights directly from the mobile app.
While both platforms received a 4-star rating for their mobile trading apps, HFM consistently edges ahead in the rankings by ForexBrokers.com, taking the 39th position out of 63 brokers, compared to Xtrade's rank of 53. Beyond technical capabilities, HFM users benefit from creating watchlists with real-time quotes, empowering them to monitor markets and make informed trading decisions. On the other hand, Xtrade's mobile app lacks this option and doesn't offer the convenience of syncing watchlists between the app and the online account. In summary, for those prioritizing advanced charting tools and real-time market updates, HFM presents a more feature-rich mobile trading experience.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of HFM and Xtrade, both online brokers provide essential tools like daily market commentary and forex news from renowned sources such as Bloomberg and Reuters. HFM stands out by integrating technical analysis tools from Autochartist, while Xtrade does not offer this feature, possibly affecting in-depth analysis capability. Additionally, HFM provides a sentiment-based trading tool to gauge market direction through the ratio of long or short positions, which is not available with Xtrade.
Both HFM and Xtrade offer economic calendars highlighting key global news events, keeping traders informed of market changes. While neither broker offers research tools from Trading Central, Autochartist, Acuity Trading, or TipRanks, HFM excels with a 4-star research rating compared to Xtrade's 3.5 stars. In a competitive ranking by ForexBrokers.com, HFM holds a stronger position at #20, as opposed to Xtrade's #52 spot, making HFM more favorable for traders seeking comprehensive market insights.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
HFM and Xtrade both offer valuable educational resources for beginners interested in forex and CFDs. Both brokers provide a wealth of over ten educational materials like articles, videos, and webinars, focusing on these trading subjects. However, HFM outshines Xtrade in offering monthly online webinars and a searchable archive of past webinars. This feature offers more flexibility for learning at your own pace. Moreover, HFM provides a more extensive collection of beginner-focused videos and advanced trading topics, which can be incredibly beneficial for learners at different skill levels.
When it comes to additional resources, both HFM and Xtrade supply a comprehensive investor dictionary with definitions of over 50 investing terms, which can be a helpful tool for those new to trading. In terms of user ratings, HFM secures a slightly higher education rating of 4 stars compared to Xtrade’s 3.5 stars. On the ForexBrokers.com ranking for educational resources among 63 brokers, HFM holds the 37th spot, while Xtrade is positioned at 46th. The differences in webinar availability, video content variety, and career path support give HFM a slight edge in nurturing beginner traders.
| Feature |
HFM
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 | Yes |
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 Xtrade. HFM finished with an overall rank of #30, while Xtrade finished with an overall rank of #60.
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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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 74 |
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Both HFM and Xtrade do not provide the option to purchase actual delivered cryptocurrencies; however, they both offer the ability to trade cryptocurrency derivatives.
Both HFM and Xtrade do not support ACH or SEPA transfers or PayPal for depositing or withdrawing funds, but they do offer Skrill, Visa, Mastercard, and bank wire options for these transactions.
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 | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | HFM Review | Xtrade Review |
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| Regulation | HFM | Xtrade | |
|---|---|---|---|
| Trust Score | 86 | 74 | |
| Year Founded | 2010 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | Xtrade | |
|---|---|---|---|
| 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) | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 482 | |
| Forex Pairs (Total) | 102 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 15 | N/A | |
| Charting - Drawing Tools (Total) | 30 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | HFM | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | HFM | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Yes |
| Major Forex Pairs | HFM | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | HFM | Xtrade | |
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| Trust Score | 86 | 74 | |
| Winner | check_circle | ||
| Review | HFM Review | Xtrade Review |
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