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In the fast-paced world of forex trading, choosing the right broker is crucial. HFM and FP Markets are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between HFM and FP Markets across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated HFM and FP Markets, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. The more top-tier authorities regulating a broker, the higher its trust rating.
In our comparison:
Based on these findings, HFM earned a higher trust rating than FP Markets.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that FP Markets has overall lower trading costs than HFM.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both FP Markets and HFM offer copy trading.
A broader range of CFD instruments provides more trading opportunities. FP Markets offers a greater variety of instruments compared to HFM:
For those interested in trading cryptocurrencies, HFM offers 40 cryptocurrencies, while FP Markets offers 11 cryptocurrencies. Therefore, HFM is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that FP Markets charges a withdrawal fee and HFM does not. Overall, HFM has better deposit and withdrawal processes than FP Markets.
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.
HFM has better educational support than FP Markets. Both FP Markets and HFM offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that HFM offers better research analysis than FP Markets and that both FP Markets and HFM offer frequent webinars.
HFM is a global CFD broker offering a relatively wide range of trading products including Forex, commodities, indices, shares, bonds, and ETFs – though it recently stopped offering crypto CFDs.
The HFM Micro Account has lower trading costs than most other brokers’ entry-level accounts with a 5 USD minimum deposit, fast market execution and spreads starting at 1 pip on the EUR/USD. Experienced traders will be interested in the ZERO Spread Account, with EUR/USD spreads starting at 0.0 pips and a 6 USD commission.
HFM supports both the MT4 and MT5 platforms – but unlike most other brokers does not offer its own web-based platform – and has several excellent trading tools to further assist traders. Unfortunately, access to better trading tools like Autochartist, which other brokers offer as a free service, requires an account balance of 500 USD – well above the required minimum deposit.
HFM does not charge any withdrawal or deposit fees, allows hedging, scalping, and copy trading, and offers an excellent selection of educational and market analysis materials to get new traders started.
FP Markets is a well-regulated Forex broker with an excellent stock trading platform designed for more experienced stock pickers. We were also impressed with how easy the FP Markets Trading App was to use and the quality of FP Markets' customer service.
In terms of fees, FP Markets has an “ECN pricing” model, which it claims provides “extremely competitive” costs. Unfortunately, we found that the fees on its MT4 and MT5 trading accounts were higher than most of its ECN competitors. But FP Markets does make it easy for beginners to get started, with 50 GBP minimum deposits and unlimited demo accounts.
FP Markets also stands out for its support for active and professional stock traders. FP Markets is one of few brokers offering the IRESS suite of trading platforms. These Direct Market Access platforms provide access to 10,000+ international stocks, but the basic IRESS account requires a minimum deposit of 1000 USD and commissions are charged on most trades.
For more detailed reviews, please read our comprehensive assessments of HFM and FP Markets.
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Broker | Regulated by FCA | Licenced by | Min. Deposit | Cost of Trading | Broker Score | Official Site | Compare |
|---|---|---|---|---|---|---|---|
 | No |  | USD 20 | USD 6 | |||
 | No |   | USD 10 | USD 7 | |||
 | No |  | USD 5 | USD 6 | |||
 | No |     | USD 100 | USD 9 | |||
 | Yes | | USD 0 | USD 10 | |||
 | No |  | USD 200 | USD 8 | |||
 | No | | AUD 100 | USD 6 | |||
 | Yes |  | USD 0 | USD 10 | |||
 | No | | USD 5 | USD 7 | |||
 | Yes |   | USD 0 | USD 10 |
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
