Written by ForexBrokers.com
In this head to head comparison of City Index vs HFM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
In the world of online brokerage, City Index and HFM offer distinct experiences for traders looking at their trust ratings and regulatory oversight. Founded in 1983, City Index is a veteran in the industry, publicly traded, and holds an impressive 99 Trust Score from ForexBrokers.com. This designation is backed by 7 Tier-1 licenses, making it one of the most highly trusted brokers. On the other hand, HFM, established in 2010, is not publicly traded and has a Trust Score of 86, which is considered a trusted rating. HFM maintains 2 Tier-1 licenses, showing it has a solid regulatory foundation but doesn't quite match the experience and regulatory prowess of City Index.
Both City Index and HFM are not banks and have additional Tier-2 licenses, with City Index holding 1 and HFM having 3 Tier-2 licenses. While both brokers offer reliability, City Index's extensive regulatory licenses and public trading status might appeal to those seeking a well-established platform. HFM provides a reputable option for traders who prioritize a moderately trusted broker with a respectable regulatory track record. Whether you're drawn to the longstanding reputation of City Index or HFM's reliable credentials, both brokers cater to diverse trading needs with their distinct offerings.
| Feature |
City Index
|
HFM
|
|---|---|---|
| Year Founded | 1983 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
City Index and HFM are both reputable online brokers, but they differ in their approaches to commissions and fees. City Index's pricing for CFDs, forex, and spread-betting products aligns with the industry average. For optimal rates, it is recommended to use City Index’s proprietary platforms or MetaTrader. They offer a Premium Trader account for active traders who deposit more than £10,000, providing exclusive pricing and services. Their typical spread for a CFD account on EUR/USD is around 0.74 pips, which is industry average but not as competitive as leading brokers like Tickmill and FP Markets. City Index offers rebates for U.K.-based professional traders starting from £4 per million up to £7.5 per million for larger trading volumes, and similar incentives are available in Australia.
On the other hand, HFM's trading costs are slightly above the industry average. Their standard trading accounts typically offer a 1.2 pips spread, although exact date ranges for these figures are not specified, which may hint at variability. HFM also offers a Zero account with an effective spread of 0.7 pips after commission. However, like their standard account, this spread is not an average, which could lead to less predictable costs.
In terms of rankings and ratings, City Index holds a 4.5-star rating for commissions and fees and is ranked 14th out of 62 brokers by ForexBrokers.com. HFM follows with a 4-star rating and is ranked 31st. These ratings and rankings reflect City Index’s more competitive fee structure and additional benefits for active traders, making it a more attractive option in terms of commissions and fees when compared to HFM.
| Feature |
City Index
|
HFM
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average Spread EUR/USD - Standard | 1.4 | 1.2 |
| All-in Cost EUR/USD - Active | 0.74 | 0.7 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by online brokers City Index and HFM, several key differences emerge. City Index provides an impressive array of 13,500 tradeable symbols, in contrast to HFM's 500. While both platforms offer forex trading as either a CFD or spot contract, City Index features 66 tradeable forex pairs, whereas HFM boasts a slightly higher count of 102 pairs. Both brokers allow for copy trading and offer cryptocurrency derivatives, though neither supports the purchase of actual, delivered cryptocurrencies or exchange-traded securities on U.S. or international exchanges.
Despite both brokers covering essential investment categories, City Index garners higher recognition with a 5-star rating for its range of investments, compared to HFM's 4 stars. On ForexBrokers.com, City Index ranks more favorably at 8th place out of 62 brokers, whereas HFM sits at 36th. These differences highlight City Index's broad investment offerings and strong market standing, solidifying its appeal to investors seeking extensive asset options.
| Feature |
City Index
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 500 |
| Forex Pairs (Total) | 66 | 102 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
City Index and HFM both provide a suite of trading platforms and tools tailored for traders at every level. Both brokers offer virtual demo accounts for simulated trading, proprietary platforms developed in-house, and compatibility with MetaTrader 4 (MT4). Although HFM also supports MetaTrader 5 (MT5), City Index does not offer this option. Both brokers ensure flexibility with Windows-based desktop platforms and web-based trading, allowing users to choose according to their preference. Additionally, copy trading is available on both platforms, making it easier for traders to replicate successful strategies.
When it comes to technical tools, City Index surpasses HFM by providing an extensive array of 239 drawing tools compared to HFM's 30. Both allow trading directly from stock charts, but City Index offers a richer experience with more customizable watch lists featuring 11 columns, whereas HFM provides 7. On their trading platform ratings, City Index earns a strong 4.5-star score, slightly edging past HFM's 4-star rating. This difference is mirrored in their ForexBrokers.com rankings, with City Index placing 10th and HFM at 42nd among 62 brokers in the Trading Platforms and Tools category.
| Feature |
City Index
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 15 |
| Charting - Drawing Tools (Total) | 239 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When considering mobile trading apps, both City Index and HFM cater to iPhone and Android users, offering versatile options for your trading needs. Both platforms provide essential features such as stock and forex price alerts as well as the ability to create real-time watchlists. However, City Index stands out by offering watchlist symbol syncing, ensuring your mobile and online accounts remain in harmony, whereas HFM does not support this feature. Additionally, City Index offers a broader array of technical studies with 88 available for charting, compared to HFM's 30, providing more analysis tools at your fingertips.
Both apps support the drawing of trendlines and offer various time frames for scrutinizing stock and forex charts. Furthermore, all your annotations are automatically saved on both platforms, safeguarding your efforts. City Index earns a 4.5-star rating, slightly overshadowing HFM's 4-star rating, reflecting its higher user approval. In the ForexBrokers.com rankings, City Index holds a commendable 9th place among 62 brokers, while HFM is ranked at 39th, showcasing City Index's edge in the mobile trading app arena.
| Feature |
City Index
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index and HFM both provide daily market commentary and access to forex news from top-tier sources, ensuring that traders receive timely and reliable market updates. City Index excels by offering advanced tools from Trading Central, which includes valuable technical analytics, as well as a sentiment-based trading tool that reflects the market's positioning in various instruments. However, it does not incorporate tools from Autochartist, which HFM does offer, adding an extra layer to technical analysis for their users. Both brokers lack resources from TipRanks and Acuity Trading, but they do provide a broad economic calendar to keep traders informed of key global events.
When evaluated for their research offerings, City Index garners a higher rating of 4.5 out of 5 stars, while HFM follows closely with a rating of 4 stars. According to ForexBrokers.com rankings, City Index stands out at the 10th position out of 62 brokers, attributed to its comprehensive research tools and insights. In contrast, HFM is positioned at 20th, reflecting its solid offerings but highlighting room for improvement, especially in comparison to City Index's range of research resources.
| Feature |
City Index
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For those seeking to enhance their trading knowledge, City Index and HFM both provide a variety of educational resources ideal for beginners. City Index offers a comprehensive selection of materials, including over 10 articles, videos, and archived webinars focusing on forex and CFDs. These resources are complemented by regular online webinars each month, providing insights and learning opportunities. Furthermore, City Index has developed both beginner and advanced educational videos to cater to traders at different levels. Their searchable archive of webinars ensures that clients can revisit valuable sessions at their convenience. To top it off, an extensive investor dictionary is available, featuring definitions of over 50 investing terms. City Index's educational offerings are rated 4.5 stars and ranked 9th out of 62 brokers by ForexBrokers.com.
Similarly, HFM equips traders with a wide range of educational tools, offering more than 10 educational articles, videos, and archived webinars centered on forex and CFDs. HFM also hosts monthly educational webinars and provides on-demand access to past sessions through an organized archive. With a strong focus on beginner education, HFM features over 10 instructional videos tailored specifically for those new to trading. Advanced traders are not left behind, with resources dedicated to developing their skills further. Additionally, HFM provides an investor dictionary, defining more than 50 key terms to help traders understand the market language. With a 4-star rating for education and a ranking of 37th by ForexBrokers.com, HFM remains a solid choice for those beginning their trading journey.
| Feature |
City Index
|
HFM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that City Index is better than HFM. City Index finished with an overall rank of #8, while HFM finished with an overall rank of #30.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both City Index and HFM do not provide the option to purchase actual (delivered) cryptocurrency, but they do offer the ability to trade in cryptocurrency derivatives.
When comparing City Index to HFM for online trading, City Index allows deposits and withdrawals via ACH or SEPA transfers, PayPal, Visa, Mastercard, and bank wires, while HFM supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | City Index | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | City Index Review | HFM Review |
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| Regulation | City Index | HFM | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1983 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | City Index | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 500 | |
| Forex Pairs (Total) | 66 | 102 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | City Index | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | HFM | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | HFM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 15 | |
| Charting - Drawing Tools (Total) | 239 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | HFM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | HFM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | HFM | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | City Index Review | HFM Review |
| Overall | City Index | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | City Index Review | HFM Review |
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