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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Trust rank #29 · Founded 2010
HFM (formerly HotForex) is a well-regarded forex and CFD broker offering broad market access through popular platforms, varied account types, and risk management tools. It provides research, education, and multilingual support with…
Read the HFM review
Trust rank #26 · Founded 2009
XM is a well-regarded forex and CFD broker providing online access to multiple markets on widely used platforms, along with research tools, education, and multilingual support.
Read the XM reviewHFM (Cyprus, founded 2010) holds 4 regulatory licences (CySEC, DFSA, FCA, FSCA), 1 of them tier-1, offers MT4, MT5 and sits in our low-fee bracket. XM (Cyprus, founded 2009) holds 5 regulatory licences (ASIC, CySEC, DFSA, FCA, IFSC), 2 of them tier-1, offers MT4, MT5 and sits in our low-fee bracket. The two overlap in 227 countries; HFM is available in 1 countries where XM is not, and XM in 2 where HFM is not.
Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
| Criteria | HFM | XM |
|---|---|---|
| Trust rank | #29 | #26 |
| Founded | 2010 | 2009 |
| Headquarters | Cyprus | Cyprus |
| Regulators | CySEC, DFSA, FCA, FSCA | ASIC, CySEC, DFSA, FCA, IFSC |
| Broker type | Market Maker, STP | Market Maker, STP |
| Platforms | MT4, MT5 | MT4, MT5 |
| Instruments | Commodities, Forex, Indices, Metals | Commodities, Forex, Indices, Metals |
| Countries accepted | 228 countries | 229 countries |
| Fee level | Low | Low |
| Trading types | CFD Trading, Spot Trading | CFD Trading, Spot Trading |
| Best-for use cases | Copy Trading, Retail Trading | Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Available at both (227): Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Cayman Islands, Central African Republic, Chad, Chile, China and 187 more.
Only HFM (1): Israel.
Only XM (2): Türkiye, United Arab Emirates.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
XM holds more regulatory licences: HFM (CySEC, DFSA, FCA, FSCA) versus XM (ASIC, CySEC, DFSA, FCA, IFSC). Tier-1 licences: HFM 1, XM 2.
HFM offers MT4, MT5; XM offers MT4, MT5.
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
XM is the older of the two, founded in 2009; HFM was founded in 2010.
They overlap in 227 countries. HFM is additionally available in 1 countries (Israel) and XM in 2 countries (Türkiye, United Arab Emirates).
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.