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CMC Markets vs HFM 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between CMC Markets and HFM? Weโ€™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, CMC Markets ranks more highly than HFM.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. 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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Compare

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Overall RatingCMC MarketsHFM
Overall Rating 9.6 / 10 7.8 / 10
Account TypeCMC MarketsHFM
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No Yes
Copy TradingCMC MarketsHFM
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyCMC MarketsHFM
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)CMC MarketsHFM
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)CMC MarketsHFM
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsCMC MarketsHFM
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes Yes
ETF Yes Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsCMC MarketsHFM
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) No Yes
Regulatory LicensesCMC MarketsHFM
Tier-1 Licenses 5 1
Australia (ASIC Authorised) Yes No
Canada (SRO Authorised) Yes No
United Kingdom (U.K.) (FCA Authorised) Yes Yes
Hong Kong (SFC Authorised) No No
Singapore (MAS Authorised) Yes No
Switzerland (FINMA Authorised) No No
USA (CFTC Authorized) No No
Tier-2 Licenses 1 3
Tier-3 Licenses 0 1
Research, EducationCMC MarketsHFM
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist Yes Yes
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsCMC MarketsHFM
Minimum Deposit $0 $0
Average Spread EUR/USD - Standard 0.51 info 1.2 info
All-in Cost EUR/USD - Active 0.51 info 0.9 info
Active Trader or VIP Discounts Yes No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) Yes No
Trading ToolsCMC MarketsHFM
Watchlists - Total Fields 9 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 84 15
Mobile Charting - Indicators / Studies 29 30
Trust FactorsCMC MarketsHFM
Year Founded 1989 2010
Publicly Traded (Listed) Yes No
Bank No No
European Union Authorised (MiFID) Yes info Yes info
Trust Score 99 85
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CMC 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 CMC Markets vs HFM.

Can I trust CMC Markets?

CMC Markets has a trust score of 99, giving it a "Highly Trusted" 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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust HFM?

HFM has a trust score of 85, giving it a "Trusted" trust label.

Is CMC Markets a good broker?

CMC Markets is a highly trusted multi-asset broker that features excellent pricing and a huge selection of markets on its powerful Next Generation proprietary trading platform (available for web and mobile), alongside high-quality research and educational materials.

Is HFM a good broker?

HFM, previously known as HotForex, is a trusted brand that primarily offers the MetaTrader platform suite. HFM also features its own in-house copy trading platform, HFcopy, as well as a proprietary mobile platform called the HFM app that can be used for trading (as long as you hold a Premium account with HFM).

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. CMC Markets is Australia (ASIC Authorised), Canada (SRO Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and United Kingdom (U.K.) (FCA Authorised), while HFM is United Kingdom (U.K.) (FCA Authorised).. Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC 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, CMC Markets is UAE (DFSA/Central Bank Authorised), 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 CMC 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?

Both CMC Markets and HFM offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade

Does CMC Markets offer MetaTrader? Does HFM offer MetaTrader?

For MetaTrader CMC Markets provides MetaTrader 4 (MT4), while HFM provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

CMC Markets requires a minimum deposit of $0, while HFM requires a minimum deposit of $0. From our testing we found CMC Markets offers spreads of 0.51, while HFM offers spreads of 1.2. CMC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where HFM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, CMC Markets or HFM?

CMC Markets offers a more diverse selection of investment options than HFM allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, CMC Markets has 12377, compared to 3500 from HFM.

Can I trade cryptocurrency with CMC 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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither CMC Markets nor HFM allow you to trade physical cryptocurrencies.

Who offers more research tools, CMC Markets or HFM?

In terms of research and research tools CMC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) 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.

Broker Reviews

Still looking for more information, read our broker reviews.

CMC Markets Review

HFM Review

Overall winner: CMC Markets

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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