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Swissquote vs HFM 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Swissquote 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, Swissquote 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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Overall RatingSwissquoteHFM
Overall Rating 8.7 / 10 7.7 / 10
Account TypeSwissquoteHFM
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 Yes Yes
Copy TradingSwissquoteHFM
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencySwissquoteHFM
Cryptocurrency (Physical) Yes No
Cryptocurrency (CFD) No Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)SwissquoteHFM
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)SwissquoteHFM
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsSwissquoteHFM
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No 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 PlatformsSwissquoteHFM
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesSwissquoteHFM
Tier-1 Licenses 4 1
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
CFTC Registered (USA) No No
Tier-2 Licenses 1 3
Tier-3 Licenses 0 1
Research, EducationSwissquoteHFM
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 CostsSwissquoteHFM
Minimum Initial Deposit $1000 $5
Average Spread EUR/USD - Standard N/A 1.2 (August 2021)
All-in Cost EUR/USD - Active N/A 0.9 (August 2021)
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 ToolsSwissquoteHFM
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 49 15
Mobile Charting - Indicators / Studies 30 30
Trust FactorsSwissquoteHFM
Year Founded 1996 2010
Publicly Traded (Listed) Yes No
Bank Yes No
Authorised in European Union Yes info Yes info
Trust Score 99 85
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Swissquote 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 Swissquote vs HFM.

Can I trust Swissquote?

Swissquote 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 Swissquote a good broker?

Swissquote is a highly-trusted broker, offering a significant range of markets from within its in-house platform suite. It's worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost brokers, and its forex account offers far fewer markets โ€“ including on MetaTrader โ€“ than Swissquote's eTrading account for share dealing.

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 HF app (though it can't yet be used for actual 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. Swissquote is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and FCA Authorised (U.K.), while HFM is FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand) and CFTC Registered (USA)

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, Swissquote is DFSA / Central Bank Authorised (UAE), while HFM is CySEC Authorised (Cyprus), FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses Swissquote is none, while HFM is FSC Authorised (Mauritius)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does Swissquote offer MetaTrader? Does HFM offer MetaTrader?

Both Swissquote and HFM offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If youโ€™re new to MetaTrader 4 hereโ€™s our educational guide on how to use MT4.

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

Swissquote requires a minimum deposit of $1000, while HFM requires a minimum deposit of $5. From our testing we found Swissquote offers spreads of N/A, while HFM offers spreads of 1.2 (August 2021). Swissquote supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (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, Swissquote or HFM?

Both Swissquote 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, Swissquote has 466, compared to 3500 from HFM.

Can I trade cryptocurrency with Swissquote 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 Swissquote nor HFM allow you to trade physical cryptocurrencies.

Who offers more research tools, Swissquote or HFM?

In terms of research and research tools Swissquote 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.

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