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BlackBull Markets vs HFM 2024

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 8.0 / 10 7.9 / 10
Offering of Investments 9.5 / 10 8.0 / 10
Commissions & Fees 8.5 / 10 7.5 / 10
Platform & Tools 8.0 / 10 7.5 / 10
Research 8.0 / 10 8.0 / 10
Mobile Trading 7.5 / 10 7.5 / 10
Education 7.5 / 10 7.0 / 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 Yes Yes
Ethereum info Yes 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
Regulated in one or more EU or EEA countries (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 Yes
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 0.7 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 6 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 109 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
Regulated in one or more EU or EEA countries (MiFID). info No info Yes info
Trust Score info 78 86
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BlackBull Markets vs HFM Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between BlackBull Markets and HFM? Our independent database powered by our unbiased research will help you compare BlackBull Markets vs HFM side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust BlackBull Markets?

BlackBull Markets has a Trust Score of 78, giving it a "Average Risk" Trust Score Label.

Can I trust HFM?

HFM has a Trust Score of 86, giving it a "Trusted" Trust Score 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 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. BlackBull Markets holds regulatory licenses in the following Tier-1 jurisdictions: New Zealand (FMA Authorised). HFM, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: 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?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that BlackBull Markets offers 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. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that 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?

When choosing a broker, it’s important to check the availability of your preferred investment products and asset classes. We’ve tested each broker’s individual offering of investments to help you pick the right broker for what you want to trade. We found that both BlackBull Markets and HFM offer Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; BlackBull Markets offers 26000, and HFM offers a total of 3500 tradeable symbols.

Can I trade cryptocurrency with BlackBull Markets or HFM?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither BlackBull Markets nor HFM allow you to trade physical cryptocurrencies.

Who offers more research tools, BlackBull Markets or HFM?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. BlackBull Markets delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. HFM, on the other hand, provides 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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