Trading CFDs carries a high risk of losing money rapidly. Confirm this broker's current loss-rate disclosure and regulated entity before opening an account. Read the full risk disclosure.
HFM vs XM
A field-by-field comparison based on the current BrokaBoy catalogue. Check current pricing and the regulated entity on each broker's website before deciding.
Last updated: 4 October 2026 · Reviewed by BrokaBoy Research Team
| Field | HFM | XM |
|---|---|---|
| BrokaBoy score | 9.7/10 | 8.0/10 |
| Trustpilot rating | Trustpilot 4.3 (2,948 reviews) | Trustpilot 2.1 (3,130 reviews) |
| Listed minimum deposit | $0 | $5 |
| Advertised spread from | 0.0 pips | 0.6 |
| Advertised maximum leverage | 1:2000 (entity dependent) | 1:1000 (equity dependent) |
| Regulators | FCA, CySEC, DFSA, FSCA, CMA, FSA | CySEC, ASIC, IFSC, DFSA |
| Platforms | MetaTrader 4, MetaTrader 5, HFM App, HFcopy | MetaTrader 4, MetaTrader 5 |
| Instruments | Forex, Commodities, Indices, Stocks, Bonds, Crypto | Forex, CFDs, Stocks, Commodities, Crypto |
| Account types | Cent, Micro, Premium, Zero Spread, Auto | Standard, Ultra Low, Shares |
| Founded | 2010 | 2009 |
| Spread type | Variable; raw pricing on the Zero Spread account | Spreads from 0.6 pips on Standard, tighter on Ultra Low; Micro accounts share Standard pricing. |
| Commission | Around $6 per round-turn lot on Zero Spread; none on Micro and Premium | No commission on Micro, Standard or Ultra Low accounts. |
| Overnight / swap | Swaps charged on positions held overnight; Islamic swap-free accounts available on request | Standard nightly swap; Islamic accounts available swap-free. |
| Withdrawals | HFM covers most withdrawal fees; third-party payment charges may apply | XM covers withdrawal fees on most methods; inactivity fee applies after 90 days idle. |
Key differences
- HFM has a lower listed minimum deposit ($0 vs $5).
- HFM has the higher BrokaBoy score (9.7/10 vs 8.0/10).
- Both brokers hold licences with CySEC, DFSA.
- Only HFM lists HFM App, HFcopy among its platforms.
- Only HFM lists Indices, Bonds among its instruments.
- Only XM lists CFDs among its instruments.
Which should you choose?
- Choose HFM if a lower listed opening deposit is your priority.
- Choose HFM if you want the broader platform list shown in our catalogue (4 vs 2).
- Choose HFM if access to Indices is essential, and confirm it is available under your entity.
- Choose XM if access to CFDs is essential, and confirm it is available under your entity.
- Choose the broker whose regulated entity covers your country and provides the protections you need; confirm this on the regulator's register.
Frequently asked questions
Which has the lower minimum deposit, HFM or XM?+
HFM has the lower listed minimum deposit ($0 vs $5). Confirm current terms with each broker.
Are HFM and XM regulated by the same authorities?+
They share CySEC, DFSA. HFM lists FCA, CySEC, DFSA, FSCA, CMA, FSA; XM lists CySEC, ASIC, IFSC, DFSA in our catalogue.
Which has the higher BrokaBoy score?+
HFM scores 9.7/10 against 8.0/10. The score is calculated from advertised catalogue data and excludes Trustpilot ratings.
Do HFM and XM support the same platforms?+
Both list MetaTrader 4, MetaTrader 5. HFM lists more platforms overall.
