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Saxo Bank vs HFM (HF Markets) 2021

Is HFM (HF Markets) better than Saxo Bank? In our analysis of 23 international regulators across 50 brokers, HotForex is considered average-risk, with an overall Trust Score of 85 out of 99. Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature Saxo Bank HFM (HF Markets)
Overall 5 4
Commissions & Fees 4.5 3.5
Offering of Investments 5 4
Platforms & Tools 5 3.5
Mobile Trading Apps 5 4
Research 5 4
Education 4 3.5
Trust Score 99 85
Saxo Bank Review HFM (HF Markets) Review
64% of retail CFD accounts lose money 72.03% of retail CFD accounts lose money
Winner check_circle

Regulation

Feature Saxo Bank HFM (HF Markets)
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 the European Union
Yes Yes

Tier-1 Licenses (High Trust)

Feature Saxo Bank HFM (HF Markets)
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Tier-2 Licenses (Average Trust)

Feature Saxo Bank HFM (HF Markets)
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No Yes
CBI Authorised (Ireland)
No No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
No Yes
SEC Authorised (Thailand)
No No

Tier-3 Licenses (Low Trust)

Feature Saxo Bank HFM (HF Markets)
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No Yes

Investments

Feature Saxo Bank HFM (HF Markets)
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
40000 1066
Forex Pairs (Total)
182 47
US 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
Crypto Disclaimer (UK) 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

Feature Saxo Bank HFM (HF Markets)
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

Feature Saxo Bank HFM (HF Markets)
Minimum Deposit
$2,000.00 $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

Feature Saxo Bank HFM (HF Markets)
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

Feature Saxo Bank HFM (HF Markets)
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
Charting - Drawings Autosave
Yes No

Mobile Trading

Feature Saxo Bank HFM (HF Markets)
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
62 30
Charting - Draw Trendlines
Yes Yes
Charting - Trendlines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes

Research

Feature Saxo Bank HFM (HF Markets)
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Autochartist
Yes Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature Saxo Bank HFM (HF Markets)
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

Feature Saxo Bank HFM (HF Markets)
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

Overall

Feature Saxo Bank HFM (HF Markets)
Overall 5 4
Commissions & Fees 4.5 3.5
Offering of Investments 5 4
Platforms & Tools 5 3.5
Mobile Trading Apps 5 4
Research 5 4
Education 4 3.5
Trust Score 99 85
Saxo Bank Review HFM (HF Markets) Review

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 HFM (HF Markets) vs Saxo Bank.

Does HFM (HF Markets) or Saxo Bank 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 HFM (HF Markets) or Saxo Bank 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 (HF Markets) holds 1. HFM (HF Markets) holds 3 global Tier-2 licenses, while Saxo Bank holds 1. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than HFM (HF Markets).

Which trading platform is better: HFM (HF Markets) or Saxo Bank?
To compare the trading platforms of both HFM (HF Markets) and Saxo Bank, 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. HFM (HF Markets) and Saxo Bank both offer copy trading. Both HFM (HF Markets) and Saxo Bank offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to HFM (HF Markets)'s 47 available pairs. Forex pairs aside, Saxo Bank offers traders access to 40000 CFDs while HFM (HF Markets) has 1066 available CFDs, a difference of 38,934.

Can I trust HFM (HF Markets)?
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).

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).

Is HFM (HF Markets) 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.

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.

Overall winner: Saxo Bank

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