- Max leverage
- 1,000:1
- Min deposit
- $5
- Bonus
- 100% deposit bonus
XM vs HFM: Which Broker Is Better?
Short answer
Pick XM for the simplest start: a $5 minimum, up to 1000:1, a deposit bonus and one named company (XM Global Limited, FSC Belize). Pick HFM for more choice: five accounts including a $0-minimum Cent account and a Zero raw-spread account at $6 round trip, up to 2000:1, a 20% top-up bonus, and a group with CySEC, FCA, FSCA, Seychelles FSA and CMA licences.
- Max leverage
- 2,000:1
- Min deposit
- $0
- Bonus
- 20% deposit bonus
Comparison table
| Feature |  XM |  HFM |
|---|---|---|
| Max leverage | 1,000:1 | 2,000:1 |
| Min deposit | $5 | $0 |
| Bonus | 100% deposit bonus | 20% top-up bonus on every deposit up to $5,000 |
| Account types | 3 types | 5 types |
| Platforms | MT4 / MT5 / XM App | MT4 / MT5 / HFM App |
| Licence | FSC Belize | CySEC 183/12, FCA 801701, FSCA 46632, FSA SD015, CMA 155 |
| Bonus offered | ✓ | ✓ |
| No-deposit bonus | None listed publicly | None |
| Deposit bonus | 100% deposit bonus | 20% top-up on every deposit, up to $5,000 |
| Negative balance protection | ✓ | ✓ |
| Stop-out level | 20% | 20% |
| USD/JPY spread | 1.5 pips | 2.7 pips |
| EUR/USD spread | 1.6 pips | 1.4 pips |
| EUR/USD spread (low-spread account, no commission) | 0.6 pips | 0.9 pips |
| Gold spread | 35 pips | 38 pips |
| USD/JPY spread (raw account) | No such account | 0.1 pips |
| EUR/USD spread (raw account) | No such account | 0 pips |
| Commission (per lot, round turn) | No such account | 6 |
| Withdrawal time | Processed instantly or same day | E-wallets instant, crypto within 24 hours |
| Deposit & withdrawal methods | Bank wire, credit/debit cards, Skrill, Neteller | Bank wire, cards |
| ECN account | ✗ | ✓ |
| Cent account | ✗ | ✓ |
| Scalping allowed | ✓ | ✓ |
| EAs allowed | ✓ | ✓ |
| Copy trading | ✓ | ✓ |
| Swap-free | ✓ | ✓ |
| Crypto CFDs | ✓ | ✓ |
| Stock CFDs | ✓ | ✓ |
| Local-language support | ✓ | ✓ |
| Rebates and loyalty | XM loyalty programme: 7–16 XM Points per lot by status, re… | HFM Loyalty Program |
The short answer
Both have negative balance protection and a deposit bonus. XM is simpler and cheaper to start; HFM offers higher leverage, a raw-spread account and a Cent account, which XM doesn’t.
1. Licence: one company versus a wide group
The HFM group lists CySEC 183/12, FCA 801701, FSCA 46632, Seychelles FSA SD015 and CMA 155. That is a strong group, but each licence covers a different company and client base, and international clients deal with an offshore group company named in the client agreement.
XM Global Limited serves international clients under FSC Belize 8557558. It is an offshore licence, with less protection than EU, UK or Australian regulation, but it’s the company you’d actually deal with. See safest brokers and licences explained.
2. Trading conditions
| Item | XM Global | HFM |
|---|---|---|
| Maximum leverage | 1000:1 (held during news) | 2000:1; reduced around major news |
| Minimum deposit | $5 | $0 |
| Accounts | Standard, Ultra Low, Shares | Cent, Premium, Pro, Zero, InfinityX |
| EUR/USD (average, standard account) | about 1.6 pips | about 1.4 pips |
| Raw-spread account | No | Zero: 0.0 pips + $6 round trip |
| Bonus | 100% deposit bonus | 20% top-up, up to $5,000 |
| Negative balance protection | Yes, all accounts | Yes |
Spreads are typical review-site figures, not official averages. XM also offers an Islamic option on every account; HFM offers swap-free versions and HFcopy copy trading.
3. Withdrawals
XM Global processes withdrawals instantly or the same day; bank wires and cards arrive in 2–5 business days. HFM pays e-wallets instantly, crypto within 24 hours, and bank wires or cards in 2–10 business days, with no HFM fee.
Verdict
- Wants the simplest $5 start and a bonus: XM
- Trades often and wants raw spreads, or wants a Cent account: HFM
- Values a group with UK and EU licences: HFM, but check which company opens your account
Frequently asked questions
HFM has FCA and CySEC licences. Does that make it safer than XM?
Not automatically. Those licences belong to HFM's UK and EU companies, which serve UK and EU clients. International clients contract with an offshore group company, just as XM's international clients deal with XM Global Limited in Belize.
Which has higher leverage?
HFM: up to 2000:1 (1000:1 on its Top-up Bonus account). XM Global offers up to 1000:1, falling as equity rises above $40,000.
Does HFM have a bonus?
Yes, a 20% top-up on every deposit, up to $5,000, on its Top-up Bonus account. XM Global offers a 100% deposit bonus.