HFM and FBS are two of the most-searched brokers in the UK, so a head-to-head matters. This comparison is written specifically for UK retail traders. We line up HFM (CySEC, FCA, FSCA, FSA, founded 2010) against FBS (IFSC, CySEC, ASIC, founded 2009) across the criteria that actually move money: typical spreads on EUR/USD, commissions per round-turn, platform stability, deposit and withdrawal flow, education quality, mobile execution and FSCS-backed safety. Read the verdict at the bottom for a clear recommendation, or jump straight to the section that matters most to you using the on-this-page links.
We also review account types, deposit methods, mobile trading tools and overall value for UK traders, so the brokers featured here are not just competitive on paper, but genuinely practical for everyday use. Whether you are a beginner opening your first live account, a swing trader hunting tight overnight financing, or a high-volume scalper looking for raw spreads, this page distils 15+ data points into one decisive recommendation.
This gives you a quicker way to narrow the field before comparing the top-rated options in more detail. If you want the short version, jump straight to the rankings, methodology or FAQ below.
Quick Verdict
HFM wins for UK traders with FCA regulation and broader instrument range. FBS is better for micro-capital beginners who prioritise cent accounts and ultra-low deposits over regulatory protection.
Choose HFM for:
UK traders wanting FCA protection, PAMM accounts, fund managers
Choose FBS for:
Beginners with very small capital, cent account traders
At a Glance, HFM vs FBS
Two distinct propositions for UK traders. Below we surface the headline numbers, rating, deposit, leverage, EUR/USD spread, Trustpilot score and FCA status, before drilling into the full data table.
HFM
Min Deposit
$5
Max Leverage
1:2000
EUR/USD
0.1-0.5 pips
Trustpilot
⭐ 4.3
Pros
- FCA regulated, FSCS protection
- PAMM accounts for fund managers
- 500+ instruments including stocks
- HFcopy for social trading
- $5 minimum deposit
Cons
- Wider spreads than raw ECN brokers
- 1:2000 leverage only offshore
- UK clients limited to 1:30
- Less known brand than competitors
FBS
Min Deposit
$1
Max Leverage
1:3000
EUR/USD
0.0-0.7 pips
Trustpilot
⭐ 4.4
Pros
- $1 minimum deposit, extremely accessible
- Cent accounts for micro-lot testing
- 1:3000 leverage (offshore)
- FBS CopyTrade app
- 24/7 customer support
Cons
- Not FCA regulated, no UK protection
- Wider spreads overall
- 76% CFD loss rate, highest in comparison
- Limited instrument range
HFM
⭐ 4.3/5FCA-regulated · Spreads from 0.1-0.5 pips · Min deposit $5 · 1:2000 leverage · MT4, MT5, HFM App.
Full Comparison Table, 20 Criteria
Data measured April 2026Every metric that influences your bottom line, from raw spreads on the four most-traded majors, through commissions and overnight financing, to platform breadth and customer support. Highlighted cells indicate the better number on each row.
| Feature | | |
|---|---|---|
| EUR/USD Spread | 0.1-0.5 pips | 0.0-0.7 pips |
| GBP/USD Spread | 0.3-0.8 pips | 0.5-1.2 pips |
| USD/JPY Spread | 0.2-0.6 pips | 0.3-0.8 pips |
| XAU/USD Spread | 0.15-0.40 | 0.25-0.60 |
| Commission | None (Premium), $3/lot (Zero) | None (Standard) |
| Min Deposit | $5 | $1 |
| Max Leverage | 1:2000 | 1:3000 |
| Regulation | CySEC, FCA, FSCA, FSA | IFSC, CySEC, ASIC |
| FCA Regulated | ✅ Yes | ❌ No |
| Platforms | MT4, MT5, HFM App | MT4, MT5, FBS Trader App |
| Trustpilot | ⭐ 4.3 (3,800+) | ⭐ 4.4 (6,500+) |
| Withdrawal | 1-2 days | 1-3 days |
| CFD Loss Rate | 70% | 76% |
| Instruments | 500+ (Forex, Stocks, ETFs, Indices, Commodities, Bonds, Crypto) | 250+ (Forex, Metals, Indices, Energies, Stocks, Crypto) |
| Account Types | Premium, Pro, Zero, Cent, HFcopy | Cent, Micro, Standard, Zero Spread, ECN |
| Deposit Methods | Bank, Card, Skrill, Neteller, Crypto | Bank, Card, Skrill, Neteller, Crypto |
| Support | 24/5 Live Chat, Email, Phone | 24/7 Live Chat, Email |
| Copy Trading | ✅ Yes | ✅ Yes |
| Demo Account | ✅ Yes | ✅ Yes |
| Islamic Account | ✅ Yes | ✅ Yes |
Cost Example, 1 Standard Lot EUR/USD
We modelled the round-turn cost of trading one standard lot (100,000 units) of EUR/USD using each broker's typical London-session spread plus published commission. Lower bars mean cheaper trading for active UK clients.
Costs are indicative and depend on session, instrument volatility and account tier. Live spreads can be narrower during peak liquidity (London/NY overlap) and wider at the Asia open.
Regulation: FCA vs Offshore, What UK Traders Must Know
HFM holds FCA authorisation (FRN 801701), providing UK clients with FSCS protection up to £85,000. FBS operates under IFSC (Belize), CySEC, and ASIC but lacks FCA licensing. This means FBS UK clients don't benefit from the UK's compensation scheme. For UK-based traders, HFM's FCA status provides a critical safety net that FBS cannot match. This alone should be a deciding factor for risk-conscious traders.
Account Types: HFM's PAMM vs FBS Cent Accounts
HFM offers PAMM (Percentage Allocation Management Module) accounts, allowing fund managers to manage multiple client accounts professionally. This makes HFM attractive for traders who want to offer managed account services. FBS offers cent accounts where 1 lot equals 1,000 units instead of 100,000, perfect for testing strategies with minimal risk. Both features serve different needs: HFM for professionals, FBS for beginners.
Spreads & Trading Costs
HFM's Zero account offers spreads from 0.1 pips with $3/lot commission. FBS's ECN account starts from 0.0 pips with $6/lot commission. HFM's Premium account is commission-free with 1.2 pip average spreads. FBS's Standard account is commission-free with 1.5 pip average spreads. Overall, HFM offers slightly lower total trading costs across all account types, though the difference narrows on their commission-based accounts.
Instruments & Market Access
HFM provides 500+ instruments including individual stocks, ETFs, bonds, and commodities alongside forex. FBS offers 250+ instruments focused on forex, metals, and indices. For multi-asset portfolio traders, HFM's broader range provides more diversification opportunities without needing a second broker.
Copy Trading: HFcopy vs FBS CopyTrade
Both brokers offer copy trading. HFM's HFcopy platform allows following strategy providers with customisable risk settings. FBS's CopyTrade app is mobile-first with a social feed showing trader performance. Both platforms are functional, but FBS's CopyTrade has a more modern interface and larger community of signal providers. For dedicated copy traders, FBS's platform is more polished.
Education & Learning Resources
Both brokers offer educational academies. HFM's Academy covers basics to advanced topics with structured courses. FBS's Academy provides video lessons and webinars. Neither is industry-leading for education (XM dominates this category), but both provide adequate learning materials for intermediate traders. Beginners would benefit from supplementing either broker's education with external courses.
FBS
⭐ 4.2/5Spreads from 0.0-0.7 pips · Min deposit $1 · 1:3000 leverage · MT4, MT5, FBS Trader App.
CFD Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with HFM. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFD Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with FBS. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Senior Broker Analyst
9+ years experience · Speciality: Broker Reviews, Regulation, Trading Platforms
Sarah brings a wealth of knowledge from her 9-year tenure in the financial services industry, including roles at two FCA-regulated brokerages. She specialises in evaluating broker platforms, fee structures, and regulatory compliance. Her detailed broker reviews have helped thousands of UK traders find reliable, transparent trading partners. Sarah is a CFA Level II candidate and contributes regularly to industry publications on topics related to retail trading infrastructure.
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