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BlackBull Markets vs HFM 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between BlackBull Markets and HFM? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, BlackBull Markets ranks more highly than HFM.

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Compare

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Overall Rating BlackBull Markets HFM
Overall Rating 7.9 / 10 7.8 / 10
Account Type BlackBull Markets HFM
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes Yes
Copy Trading BlackBull Markets HFM
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info Yes No
Cryptocurrency BlackBull Markets HFM
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info No Yes
ethereum info No Yes
Forex Trading (Spot or CFDs) BlackBull Markets HFM
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) BlackBull Markets HFM
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments BlackBull Markets HFM
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms BlackBull Markets HFM
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info No Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Regulatory Licenses BlackBull Markets HFM
Tier-1 Licenses info 1 2
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info Yes No
European Union Authorised (MiFID) info No info Yes info
Tier-2 Licenses info 0 3
Tier-3 Licenses info 0 0
Research, Education BlackBull Markets HFM
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info No Yes
Daily Market Commentary info Yes Yes
Autochartist info Yes Yes
Investor Dictionary (Glossary) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs BlackBull Markets HFM
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 0.827 info 1.2 info
All-in Cost EUR/USD - Active info 0.827 info 0.9 info
Active Trader or VIP Discounts info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info No No
Trading Tools BlackBull Markets HFM
Watchlists - Total Fields info 7 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 30 15
Mobile Charting - Indicators / Studies info 30 30
Trust Factors BlackBull Markets HFM
Year Founded info 2014 2010
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info No info Yes info
Trust Score info 77 86
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BlackBull Markets vs HFM Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare BlackBull Markets vs HFM.

Can I trust BlackBull Markets?

BlackBull Markets has a trust score of 77, giving it a "Average Risk" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust HFM?

HFM has a trust score of 86, giving it a "Trusted" trust label.

Is BlackBull Markets a good broker?

BlackBull Markets is an up-and-coming broker that offers the full MetaTrader suite (both MetaTrader 4 and MetaTrader 5), a proprietary Social Copy Trading platform, as well as integration with the popular TradingView platform. Traders at BlackBull Markets gain access to share trading, CFDs, and a growing range of markets from its brands regulated in New Zealand and the Seychelles. BlackBull Markets' educational content has grown in recent years, but still trails behind what's offered by the best forex brokers in that category.

Is HFM a good broker?

HFM is a trusted broker that offers an enhanced MetaTrader experience. Traders at HFM gain access to both MetaTrader 4 and MetaTrader 5 alongside third-party upgrades like Premium Trader Tools from FX Blue Labs and trading signals via the Autochartist plugin. HFM also offers its own proprietary copy trading platform, HFcopy, and a proprietary mobile trading platform, the HFM app. It's worth noting that you'll need to hold a Premium account with HFM to use the HFM app for trading.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. BlackBull Markets is New Zealand (FMA Authorised), while HFM is United Kingdom (U.K.) (FCA Authorised).. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, BlackBull Markets is none, while HFM is Cyprus (CySEC Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses BlackBull Markets is none, while HFM is Mauritius (FSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

For trading platforms BlackBull Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade, whereas HFM supports a Proprietary Platform and Desktop Platform (Windows).. Neither have DupliTrade

Does BlackBull Markets offer MetaTrader? Does HFM offer MetaTrader?

Both BlackBull Markets and HFM offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do BlackBull Markets and HFM differ in terms of minimum deposit? What about average spreads and funding options?

BlackBull Markets requires a minimum deposit of $0, while HFM requires a minimum deposit of $0. From our testing we found BlackBull Markets offers spreads of 0.827, while HFM offers spreads of 1.2. Both BlackBull Markets and HFM offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits.. Neither have PayPal (Deposit/Withdraw)

Which broker offers more tradeable asset classes, BlackBull Markets or HFM?

Both BlackBull Markets and HFM allow you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, BlackBull Markets has 26000, compared to 3500 from HFM.

Can I trade cryptocurrency with BlackBull Markets or HFM?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither BlackBull Markets nor HFM allow you to trade physical cryptocurrencies.

Who offers more research tools, BlackBull Markets or HFM?

In terms of research and research tools BlackBull Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. In comparison HFM has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.. Neither have Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

BlackBull Markets Review

HFM Review

Overall winner: BlackBull Markets

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announcementPlease 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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