HFMvs
XMForex Broker Comparison
Both brokers score highly across regulation and platforms. Their cost structures and instrument breadth pull in different directions.
Find out which broker best suits your trader profile.
Choose if…
Choose HFM if you want a $0 minimum deposit and access to HFcopy copy trading.
Choose if…
Choose XM if you want a $5 minimum deposit and a strong bonus program.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
HFM offers tighter spreads from 0.00 pips vs 0.60 pips for XM, reducing trading costs.
| Editorial score | 4.1/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.1 / 5 | 4.3 / 5▲ |
Pros
No minimum deposit required to open an account
Copy trading via HFcopy platform
FCA, CySEC, and FSCA regulation
High leverage up to 2000:1 on offshore entity
Client funds held in segregated accounts
Negative balance protection
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | HFM | XM |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
The scores are close: HFM rates 4.1/5 and XM rates 4.3/5. XM has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
HFM starts from 0 pips, tighter than XM's 0.6 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
HFM has no minimum deposit, while XM requires at least $5. This makes HFM more accessible for traders with limited starting capital.
Both HFM and XM hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: HFM has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
HFM lists maximum leverage of 2000:1, while XM lists up to 1000:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
HFM charges $6 per lot on commission-based accounts. Commission details for XM are not currently available. Check their website for up-to-date pricing.
HFM supports MetaTrader 5, MetaTrader 4, while XM supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4.
XM is favored for regulation due to multiple authorities including ASIC and CySEC.
HFM suits active traders with raw spreads and high leverage up to 2000:1.
HFM is better suited for scalpers: raw/ECN spreads available, tighter spreads from 0.00 pips.
HFM is best for beginners thanks to a $0 minimum deposit.
XM wins instrument variety with 1400 tradable instruments.
Equally matched.
Fees & Spreads 30% weight | 4.1 / 5 | 4.3 / 5▲ |
|---|
Platforms & Tools 20% weight | 4.0 / 5 | 4.2 / 5▲ |
|---|
Customer Support 10% weight | 4.0 / 5 | 4.4 / 5▲ |
|---|
| Founded | 2010 | 2009 |
|---|
| Headquarters | Limassol, Cyprus | Limassol, Cyprus |
|---|
| Min Deposit | No minimum▼ lower | $5 |
|---|
| Spreads From | 0 pips▼ lower | 0.6 pips |
|---|
| Commission / lot | $6/lot | N/A |
|---|
| 0.6 pips | N/A |
| Max Leverage | 2,000:1▲ higher | 1,000:1 |
|---|
| Inactivity Fee | None | $5/month (after 90 days) |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit cardSkrillNetellerFasaPay | Bank transferCredit cardDebit cardSkrillNeteller |
|---|
| Withdrawal methods | Bank transferCredit cardSkrillNetellerFasaPay | Bank transferCredit cardSkrillNeteller |
|---|
| Withdrawal Fee | Free | Free for most methods |
|---|
| Regulators | FCA DFSA CySEC FSCA | KNF CySEC ASF ASIC FSC |
|---|
| Platforms | MetaTrader 5 MetaTrader 4 | MetaTrader 5 MetaTrader 4 |
|---|
| Active bonuses |
|---|
Investor compensation scheme coverage
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
USD 5 minimum deposit
Strong bonus program
Multilingual support
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
Cons
2000:1 leverage is extremely risky for inexperienced traders
No cTrader support
Zero account commission of $6/lot is above some ECN peers
No proprietary platform
Cons
Spreads not as tight as ECN-style brokers
Not available to US clients
No raw spread account option
Inactivity fee applies
No proprietary platform
Both brokers score highly across regulation and platforms. Their cost structures and instrument breadth pull in different directions.
XM has the higher editorial score (4.3 vs 4.1), making XM the overall winner.
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Dig deeper into each broker’s features, fees, and regulation.
Score 4.1 / 5
Score 4.3 / 5
Personalised recommendation
Answer 6 quick questions and we’ll match you with the brokers that best fit your trading style, experience level, and country.
