HF Markets vs Oanda

HF Markets or Oanda – which is better for UK traders 2024? Compare HF Markets and Oanda in this detailed breakdown of their platforms, features and fees.

HF Markets vs Oanda Comparison Table 2024
HF Markets Oanda
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4
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4.3
HF Markets is ranked #94 among CFD brokers. Oanda is ranked #15 among CFD brokers.
Review
Review
HF Markets is an established CFD broker with over 3 million clients and more than 60 industry awards. The trustworthy firm is authorized by several leading regulators, including the CySEC and FCA. New traders get a choice of accounts to suit different strategies and experience levels while the firm stands out for its impressive range of trading tools, from the MetaTrader software to Autochartist and the bespoke copy trading app, HFCopy. OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
Pros
  • Respected brand with millions of users and 60+ accolades
  • Heavily regulated holding licenses with top financial agencies including CySEC
  • Superb research tools including advanced insights dashboard and daily market commentary
  • MetaTrader 4 and MetaTrader 5 integration with desktop and mobile compatibility
  • Excellent breadth of products including fractional shares
  • Beginner-friendly copy trading app
  • Demo account with no expiry
  • Free deposits and withdrawals
  • The OANDA Trade web platform serves serious traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed
  • OANDA recently improved its prop trading service, OANDA Labs Prop Trader, offering an 80% profit share to skilled traders
  • The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives
  • There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted
  • OANDA has enhanced its suite of stocks, now providing exposure to over 2,200 US and European shares
  • With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders
  • Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy
  • The $0 minimum deposit will appeal to newer traders
  • Spreads are tight and there are zero hidden fees
Cons
  • Slow sign-up process
  • Mediocre range of funding options
  • Average spreads on some assets
  • HFM app has limited analysis tools compared to MetaTrader
  • The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade
  • It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade
  • High-volume traders get limited fee rebates or perks compared to leading brands
  • Weekend customer support and extended hours trading aren't available
Awards
  • Best Forex Trading App 2022 - Capital Finance International Magazine
  • Best Educational Broker 2022 - Global Forex Awards
  • Best Forex Broker South Africa 2022 - International Finance Awards
  • Best Forex Broker Middle East 2022 - All Forex Review
  • Best CFD Trading Conditions 2021 - World Economic Magazine
  • Best Market Research & Education Global 2021 - Capital Finance International Magazine
  • Best Client Services 2020 - Capital Finance International Magazine
  • Best Trading Tools winner 2021 - Online Personal Wealth Awards
  • Awarded highest overall client satisfaction 2021 - Investment Trends US Leverage Trading Report, Margin Forex
  • Awarded highest client satisfaction for mobile platform/app 2021 - Investment Trends US Leverage Trading Report, Margin Forex
  • Voted Most Popular Broker 2021 - TradingView Broker Awards
  • Voted Best Forex and CFD Broker 2021 - TradingView Broker Awards
FCA Regulated
Yes Yes
Instruments
CFDs, Forex, Metals, Energies, Stocks, Indices, Commodities, Bonds, ETFs CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
CySEC, FCA, DFSA, FSCA, FSA, CMA FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI, CIRO
Mobile Apps
iOS & Android OANDA Trade, MT4
iOS App Rating
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4.7
Android App Rating
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3.7
Margin Trading
Yes Yes
Margin Rate
2%
MetaTrader 4
Yes Yes
MetaTrader 5
Yes No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
Yes Yes
eSignal
No No
Trading Central
No No
STP Account
Yes No
ECN Account
Yes No
DMA Account
Yes No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
Yes Yes
P2P Trading
No No
Spot Trading
Yes Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader and OANDA API
Copy Trading
Yes No
Copy Trading Platform
The HFCopy app allows users to automatically copy the trades of experienced traders in a few taps. You can follow multiple traders at the same time, set a rescue level to protect your capital, and withdraw profits without restrictions. You can start copy trading in 4 easy steps.
Social Trading
No No
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$5 $10
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • PLN
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
Commodities
  • Oil
  • Gold
  • Silver
  • Platinum
  • Palladium
  • Cocoa
  • Coffee
  • Copper
  • Cotton
  • Sugar
  • Corn
  • Palladium
  • Platinum
  • Copper
  • Wheat
  • Gold
  • Silver
  • Oil
  • Natural Gas
  • Soybeans
  • Sugar
CFD
HF Markets offers over 1000 CFDs spanning forex, stocks, indices, commodities, bonds and ETFs. Traders can speculate on rising and falling prices with flexible leverage. Fees are also transparent with no hidden charges. You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms.
Leverage
1:30 (EU), 1:1000 (Global) 1:30
FTSE Spread
1.7 1.0
GBPUSD Spread<
2.0 1.4
Oil Spread
0.05 3.0
Stocks Spread
Variable 12 (Apple Inc)
Forex
HF Markets offers trading on over 50 currency pairs including all majors. The no dealing desk model ensures fast execution speeds with tight spreads from 0.1 pips. HFM also offers excellent research and analysis in the currency markets. OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.
Assets
50+ 68
GBPUSD Spread
2.0 1.4
EURUSD Spread
1.2 0.8
EURGBP Spread
1.7 0.9
Currency Indices
  • USD
Cryptocurrency
OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility.
Spread
$100
Coins
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
HF Markets Oanda
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