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If you are a forex trader, there are dozens of online forex brokers looking to win your business. Choosing a forex broker is the first and most important step for new traders entering the market. There are several features to consider when finding a broker, most notable selecting a broker with low spreads, a variety of markets to trade, a demo account and resources to help improve trader knowledge. Sadly most of the forex brokers are not worth your hard earned money.
5 Tips For Selecting A Forex Broker
1. Regulatory Compliance: The first thing to check when selecting a forex broker is their reputation. A flashy website and advertisements on internet does not guarantee that a broker is regulated. If you love your hard earned money and concerned about the safety of deposits and withdrawal, accounts should only be opened with brokers that are duly regulated.
2. Customer Service: Forex trading occurs 24 hours a day, so a broker's customer support should be available at any time. A good broker should always provide the best customer support.
3. Spread: The Forex brokers make money from the spread of their customers. A good forex broker will always have a spread spread because they put their customer first. If a broker is charging high spread, it means the broker is greedy and you should also stay away.
4. Ease of Deposits and Withdrawals: I get many emails every month where people are unable to withdraw their fund from the account. In some cases, the broker has vanished with the capital of their clients. As a result, it is very important to have easy deposit and withdrawal. Regulated brokers have good deposit & withdrawal service.
5. Execution speed and Slippage: For most traders, execution speed is important as it provides more accurate pricing in a fast-moving market. However, it’s especially important for traders who use scalping strategies or Expert Advisors that process many transactions in a short time. In these scenarios, delayed trades – even by milliseconds – can cost money.
It’s important to note that slippage cannot be eliminated by brokers, especially during events like NFP. But it will be very less with good brokers.
Best Broker for Indian & Non US Clients
XM | FSC & CySEC Regulated
One of the Most Reputed Broker in the world
Far better than the other brokers operating in India
Regulated by FSC & CySEC
Low Trading fees
Low Spread
UPI & Net Banking Deposit & Withdrawal for Indian clients
Best in class customer support
MT4, MT5, XM Web Trader
Trade on Forex, Crypto, Stock CFD, Commodities, Indices, Metals, Energies & Shares
Live Room
Education
Regular webinars on both Hindi & English
Best Broker for Asia, Middle East & Africa
HFM | FCA, DFSA, FSCA, FSA, CMA & SV Regulated
One of the most popular and reputed broker in the world
Regulated by FCA, DFSA, FSCA, FSA, CMA & SV
Low Trading fees
Low Spread
Best in class customer support
MT4, MT5,Web & App Terminal
Trade on Forex, Crypto, ETF, Stock CFD, Commodities, Indices, Metals,
Energies & Shares
All the popular methods of Deposit & Withdrawal available but not UPI & Net Banking
Live Room
Education
Regular webinars
Open an account through our referral in one of the award winning brokers, deposit minimum $500 and get
1. Free Complete Technical Analysis Course with more than 90+ video lessons with 10+ Trading strategies
2. Free access to the Pro Trader Program and receive regular market analysis, market updates, Jackpot Trade Setups and many
Detailed Comparison between XM & HF Markets
The article belongs to https://www.forexbrokers.com/compare/hfm-markets-vs-xm
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare XM Group vs HFM.
Does XM Group 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, HFM offers better pricing overall for traders.
Is XM Group or HFM safer for forex and CFDs trading?
At ForexBrokers.com, they track where each forex and CFD broker is regulated across over 23 international regulator databases. XM Group holds 2 global Tier-1 licenses, while HFM holds 1. HFM holds 3 global Tier-2 licenses, while XM Group holds 1. In our analysis of 23 international regulators across 50 brokers, XM Group earned a higher Trust Score than HFM.
Which trading platform is better: XM Group or HFM?
To compare the trading platforms of both XM Group and HFM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, XM Group offers a better experience. With research, XM Group offers superior market research. Finally, we found XM Group 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. Both XM Group and HFM offer MetaTrader 4 (MT4).XM Group and HFM both offer copy trading.
How many forex pairs and CFDs are available to trade?
XM Group provides traders 57 currency pairs (e.g., EUR/USD) compared to HFM's 47 available pairs. Forex pairs aside, HFM offers traders access to 3500 CFDs while XM Group has 1372 available CFDs, a difference of 2128.
Can I trust XM Group?
XM Group is not publicly-traded and does not operate a bank. XM Group is authorised by three tier-1 regulators (high trust), two tier-2 regulator (average trust), and one tier-3 regulator (low trust). XM Group is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and, via its parent company's other brand Trading.com, with 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 XM Group good?
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
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, and provides a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average, and its HF mobile app does not yet support trading.
Why XM is the best option for Indian clients?
Indian clients mostly want local deposit and withdrawal. XM provides smooth UPI & Netbanking deposit and withdrawal which makes it the best option for Indians.
Why HFM is the best broker for Middle East & Africa?
The DFSA license gives extra security and trust to the people of Middle East.
Overall winner: XM Group