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eToro vs HFM 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is eToro better than HFM? In our analysis of 23 international regulators across 62 of the best forex brokers, eToro is considered low-risk, with an overall Trust Score of 93 out of 99. HotForex is considered average-risk, with an overall Trust Score of 85 out of 99. Learn more about Trust Score.

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Overall RatingeToroHFM
Overall Rating 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 93 85
Winner check_circle
Review eToro Review HFM Review
RegulationeToroHFM
Trust Score 93 85
Year Founded 2007 2010
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 2 1
Tier-2 Licenses 1 3
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)eToroHFM
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)eToroHFM
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No Yes
Tier-3 Licenses (Low Trust)eToroHFM
SCB Authorised (Bahamas) No No
FSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No Yes
VFSC Authorised (Vanuatu) No No
InvestmentseToroHFM
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 3458 3500
Forex Pairs (Total) 49 47
U.S. Stock Trading (Non CFD) Yes No
Int'l Stock Trading (Non CFD) Yes No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) Yes No
Cryptocurrency (CFD) Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
CosteToroHFM
Average Spread EUR/USD - Standard 1 info 1.2 info
All-in Cost EUR/USD - Active N/A 0.9 info
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingeToroHFM
Minimum Deposit $10-$10,000 $5
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformseToroHFM
Proprietary Platform Yes No
Desktop Platform (Windows) No Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading Platforms Gallery (click to expand)
Trading ToolseToroHFM
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 6 7
Charting - Indicators / Studies (Total) 66 15
Charting - Drawing Tools (Total) 13 30
Charting - Trade From Chart No Yes
Charts can be saved Yes Yes
Mobile TradingeToroHFM
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 5 30
Mobile Charting - Draw Trendlines No Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar No Yes
Mobile Trading Gallery (click to expand)
ResearcheToroHFM
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) No Yes
Autochartist No Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
Research Gallery (click to expand)
EducationeToroHFM
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes No
Education Gallery (click to expand)
Major Forex PairseToroHFM
GBP/USD Yes Yes
USD/JPY Yes Yes
EUR/USD Yes Yes
USD/CHF Yes Yes
USD/CAD Yes Yes
NZD/USD Yes Yes
AUD/USD Yes Yes
Review eToro Review HFM Review
OveralleToroHFM
Overall Rating 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 93 85
Winner check_circle
Review eToro Review HFM Review
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eToro 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 62 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs HFM.

Does eToro or HFM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, eToro offers better pricing overall for traders.

Is eToro or HFM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. eToro holds 2 global Tier-1 licenses, while HFM holds 1. HFM holds 3 global Tier-2 licenses, while eToro holds 1. In our analysis of 23 international regulators across 50 brokers, eToro earned a higher Trust Score than HFM.

Which trading platform is better: eToro or HFM?

To compare the trading platforms of both eToro and HFM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, eToro offers a better experience. With research, eToro offers superior market research. Finally, we found eToro to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.eToro and HFM both offer copy trading.

How many forex pairs and CFDs are available to trade?

eToro provides traders 49 currency pairs (e.g., EUR/USD) compared to HFM's 47 available pairs. Forex pairs aside, HFM offers traders access to 3500 CFDs while eToro has 3458 available CFDs, a difference of 42.

Can I trust eToro?

eToro is not publicly traded and does not operate a bank. eToro is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). eToro is authorised by the following tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the Financial Conduct Authority (FCA).

Can I trust HFM?

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). HotForex is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA).

Is eToro good?

eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors โ€“ or receive exclusive perks for sharing their own trading strategies.

Is HFM good?

Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.

Overall winner: eToro

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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.

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.

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