AuthorBy Björn Michels
Updated: November 24, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

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Select brokers to compare

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
11110.54.29/ 5 GBP 100FCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityDFSA Regulated Forex BrokersSecurities Commission of the BahamasMarket Maker NDDCryptocurrencies, Energies, Stock CFDs, Forex, Futures, Indices, Metals7030
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
Read Review 111104/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 1110.503.5/ 5 1110.503.5/ 5 11110.54.5/ 5 71.58%30:10.40 pips FxPro cTrader, FxPro MT4, FxPro MT5, Islamic, ProEdge MT4, MT5, cTrader, FxProEdgeBank Transfer, Mastercard, Visa, Unionpay, Paypal, Neteller, Skrill9 USD / lot
11110.54.25/ 5 GBP 100FCA Regulated Forex BrokersDFSA Regulated Forex BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersMarket MakerBonds, Commodities, Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals, Stock DMAs00
  • Well regulated
  • Excellent market analysis
  • Copy trading accounts
  • Limited base currencies
Read Review 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 1110.503.5/ 5 111104/ 5 69.03%30:10.10 pips Hfcopy, Premium, Zero Spread MT4, MT5Bank Transfer, Visa, Mastercard, Skrill, Neteller, Trustly6 USD / lot - ZERO Spread Account

How do FxPro and HF Markets stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

FxPro

HF Markets

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare FxPro and HF Markets, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does FxPro or HF Markets have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that FxPro holds one Tier 1 and two Tier 2 licences, and HF Markets holds one Tier 1 and two Tier 2 licences.

 

Can I trust FxPro?

Yes as FxPro was founded in 2006 and is regulated by CySEC, DFSA, FCA, FSCA and SCB.

 

Can I trust HF Markets?

Yes as HF Markets was founded in 2010 and is regulated by CySEC, DFSA, FCA and FSCA.

 

Based on these findings, FxPro earned a higher trust rating than HF Markets.

Does FxPro or HF Markets have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that HF Markets has overall lower trading costs than FxPro. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
FxPro
11110.54.5/ 5
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
1.40 pips
USD 14
0.40 pips
1.00 pips
0.60 pips
USD 0
HF Markets
11110.54.5/ 5
EUR, USD, GBP
1.30 pips
USD 8
0.30 pips
0.30 pips
0.30 pips
USD 0

 

Does FxPro or HF Markets offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FxPro offers support for MT4, MT5, cTrader and FxProEdge and HF Markets offers support for MT4 and MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case FxPro offer copy trading and HF Markets does not.

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Broker
Platform Choice
Copy Trading
Platforms
FxPro
111115/ 5
FxProEdge
HF Markets
11110.54.5/ 5

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that FxPro offers a greater range and depth of instruments to trade than HF Markets. FxPro offers 70 Forex pairs to trade and HF Markets offers 0 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, FxPro offers 30 cryptocurrencies while HF Markets offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FxPro.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither FxPro nor HF Markets charges a withdrawal fee. Overall, FxPro has better deposit and withdrawal processes than HF Markets. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

HF Markets has better educational support than FxPro. HF Markets offer educational support for more experienced traders and FxPro does not.

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Broker
Beginner Course
Advanced Course
FxPro
HF Markets

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that HF Markets offers better research analysis than FxPro and that both FxPro and HF Markets offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
FxPro
HF Markets

 

Our overall Verdict on FxPro

FxPro is a well-regulated broker with a wide range of accounts, reasonable minimum deposits, and an excellent selection of trading platforms. British traders will also be pleased to note that they can spread bet, which means that they don't have to pay Capital Gains Tax on their profits. 

However, some issues we found with FxPro are that its trading costs are generally much higher than other brokers and its education and market analysis are limited. But we were impressed with how easy-to-use FxPro’s mobile trading app was and the quality of customer support we received. Support is available in a range of languages, 24 hours a day, seven days a week.  

Our overall Verdict on HF Markets

HF Markets is a well-known international broker, but its unique focus on the British market is undeniable. It has local FCA regulation, a dedicated UK customer service team, a toll-free UK customer service number, and offers GBP trading accounts. It also offers fast and free deposits and withdrawals via the Trustly app. 

The HF Markets Premium Account has slightly higher trading costs than most other brokers’ entry-level accounts with a 100 GBP minimum deposit and spreads starting at 1 pip on the EUR/USD. But trading costs improve on the ZERO Spread Account, with EUR/USD spreads starting at 0.1 pips and a 6 USD commission. 

HF Markets supports both the MT4 and MT5 platforms in addition to its own mobile HF App, which allows clients to trade from charts and make deposits and withdrawals. It also has several excellent trading tools to further assist traders. Unfortunately, access to tools such as Autochartist, which other brokers offer as a free service, requires an account balance of 500 GBP – well above the required minimum deposit.

Which broker has the highest overall rating?

FxPro has an overall rating of 4.29 and HF Markets has an overall rating of 4.25. For more detail please read our reviews of FxPro and HF Markets.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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