Comparison of HFM and XM
| Feature | HFM | XM |
|---|---|---|
| Broker | ||
| Year Founded | 2010 | 2009 |
| Broker Type | MM, STP | MM |
| Dealing | B-book, A-book | B-book |
| Execution | Market | Market |
| Regulation | SVGFSA, FSCA, SFSA, CySEC, FCA, DFSA, CMA | BFSC, CySEC, ASIC, DFSA |
| Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| Spread | ⮕ Average | ⬊ Low |
| Maximum Leverage | 1:2000 | 1:1000 |
| Minimum Deposit | $1 | $5 |
| Base Currencies | USD, EUR, JPY, NGN | USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, HUF |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Skrill, FasaPay, BitPay, Perfect Money, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT) | Bank Wire, Credit Card, Debit Card, FasaPay, Giropay, IDEAL, Jeton, Mobile Money, MuchBetter, Neteller, NganLuong, Paysafecard, Perfect Money, POLi, Przelewy24, Skrill, STICPAY, Trustly, China UnionPay, WebMoney |
| Inactivity Fee | $5 per month after 6 months | $15 after 12 months |
| Interest on Margin | ✖ | ✖ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF), Financialcommission.org | Investor Compensation Fund (ICF) |
| Protection Size | £85 000 / €20 000 | €20 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✖ | ✖ |
| Copy Trading | ✔ | ✔ |
| VPS | ✖ | ✔ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Bonds, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks, Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | HFM Review | XM Review |
About HFM
HFM, previously known as HotForex, is a well-established online forex and CFD broker, renowned for its diverse range of trading instruments, competitive pricing, and user-friendly platforms. Founded in 2010, the broker is regulated by multiple reputable authorities, including the FCA, CySEC, and FSCA, ensuring a high standard of security and transparency for its clients. With access to over 1000 tradable assets, including forex, indices, commodities, and shares, HFM caters to both beginner and experienced traders, providing a seamless trading experience through platforms like MetaTrader 4, MetaTrader 5, and its proprietary app. One of HFM's standout features is its flexible account options, which include a zero-spread account for cost-conscious traders and a micro account for those looking to start small. The broker also offers robust educational resources, free market analysis, and a suite of advanced tools to support informed trading decisions. Coupled with tight spreads, swift execution, and responsive customer support available 24/5, HFM continues to solidify its reputation as a reliable choice for traders across the globe.
Pros
- Regulated by top-tier authorities (CySEC, FCA, FSCA, etc.)
- Wide range of Instruments
- Flexible account options
- Comprehensive educational resources
- Responsive customer support
Cons
- Inactivity fees
- Limited availability in some countries
About XM
XM is a globally recognized forex and CFD broker established in 2009. Regulated by reputable financial authorities such as the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), XM provides a secure and transparent trading environment. The broker offers access to over 1000 financial instruments, including forex pairs, commodities, indices, metals, and energies, catering to both novice and experienced traders. One of XM's standout features is its commitment to client education and support. The broker provides extensive educational resources like webinars, tutorials, and market analyses to help traders make informed decisions. With multiple account types, competitive spreads, and support for popular trading platforms like MetaTrader 4 and MetaTrader 5, XM aims to deliver a flexible and user-friendly trading experience tailored to individual needs.
Pros
- Regulated by reputable authorities
- Wide range of trading instruments
- Multiple account types
- Competitive spreads and leverage
- Comprehensive educational resources
- Advanced trading platforms
- Multilingual customer support
Cons
- Inactivity fees
- Restricted in certain countries
HFM & XM Regulation
| Feature | HFM | XM |
|---|---|---|
Companies | HF Markets (SV) Ltd, HF Markets SA (PTY) Ltd, HF Markets (Seychelles) Ltd, HF Markets Fintech Services Ltd, HF Markets (Europe) Ltd, HF Markets (UK) Ltd, HF Markets (DIFC) Ltd, HFM Investments Ltd | XM Global Limited, Trading Point Of Financial Instruments Ltd, Trading Point of Financial Instruments Pty Limited, Trading Point MENA Limited |
Countries | Saint Vincent and the Grenadines, South Africa, Seychelles, Cyprus, United Kingdom, United Arab Emirates, Kenya | Belize, Cyprus, Australia, United Arab Emirates |
Regulators | SVGFSA, FSCA, SFSA, CySEC, FCA, DFSA, CMA | BFSC, CySEC, ASIC, DFSA |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF), Financialcommission.org | Investor Compensation Fund (ICF) |
Investor Protection Size | £85 000 / €20 000 | €20 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | HFM | XM |
|---|---|---|
Market Maker Account | ||
| Account Name | — | Standard |
| Min Deposit | — | $5 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 1.6 |
| Fee | — | No |
| Max Leverage | — | 1:1000 |
| Stop Out | — | 20% |
| Margin Call | — | 50% |
STP Account | ||
| Account Name | Premium | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 1.2 | — |
| Fee | No | — |
| Max Leverage | 1:2000 | — |
| Stop Out | 20% | — |
| Margin Call | 50% | — |
Zero Account | ||
| Account Name | Zero | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 0 | — |
| Fee | $6 per 1 lot | — |
| Max Leverage | 1:2000 | — |
| Stop Out | 20% | — |
| Margin Call | 50% | — |
Cent Account | ||
| Account Name | Cent | Micro |
| Min Deposit | $1 | $5 |
| Lot Size | 0.01 | 0.01 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 1.2 | 1.6 |
| Fee | No | No |
| Max Leverage | 1:2000 | 1:1000 |
| Stop Out | 20% | 20% |
| Margin Call | 50% | 50% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | HFM | XM |
|---|---|---|
Base currencies | USD, EUR, JPY, NGN | USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, HUF |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Skrill, FasaPay, BitPay, Perfect Money, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT) | Bank Wire, Credit Card, Debit Card, FasaPay, Giropay, IDEAL, Jeton, Mobile Money, MuchBetter, Neteller, NganLuong, Paysafecard, Perfect Money, POLi, Przelewy24, Skrill, STICPAY, Trustly, China UnionPay, WebMoney |
Inactivity fee | $5 per month after 6 months | $15 after 12 months |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | HFM | XM |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
Execution Speed | 2000 ms | 0 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | average | low |
Trading Assets
| Asset | HFM | XM |
|---|---|---|
Currencies | 53 | 55 |
Indices | 11 | 50 |
Stocks | 95 | 1307 |
Cryptocurrencies | 40 | 58 |
Bonds | 3 | 0 |
Metals | 6 | 3 |
Energies | 2 | 3 |
Soft Commodities | 5 | 8 |
ETFs | 33 | 0 |
Education and Analytics
| Feature | HFM | XM |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Bonuses
| Bonus | HFM | XM |
|---|---|---|
| Welcome Bonus | ||
| Is available | ||
| Size | — | 100%, up to $5000 |
| Details | — | Learn More |
Contests
| Feature | HFM | XM |
|---|---|---|
| Demo Contests | ||
| Is available | ||
| Contests List |
| — |
| Live Contests | ||
| Is available | ||
| Contests List | — |
|
- Virtual to RealStart Balance: $10000 · Prize Pool: $3,500 · Period: MonthlyLearn More
- StarterStart Balance: $500 · Prize Pool: $15000 · Period: WeeklyLearn More
- ProStart Balance: $1000 · Prize Pool: $30,000 · Period: WeeklyLearn More
Customer Support
| Contact | HFM | XM |
|---|---|---|
Email | support@hfm.com | support@xm.com |
Phone | +442030978571 | +5012236696 |
Telegram | Telegram | — |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | YouTube |
Instagram | ||
Twitter | ||
TikTok | — | TikTok |
Which Broker is Better?
After comparing HFM and XM, HFM comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
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Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.