Written by ForexBrokers.com
In this head to head comparison of HFM vs iFOREX, 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.
HFM, established in 2010, and iFOREX, founded in 1996, are two online brokers not publicly traded or operating as banks. When assessing trustworthiness, HFM holds a higher ForexBrokers.com Trust Score of 86, categorizing it as a trusted broker. It maintains two Tier-1 licenses, recognized as highly trusted, and three Tier-2 licenses denoting trust. In contrast, iFOREX has a Trust Score of 75, placing it in the average risk bracket with one Tier-1 license and no Tier-2 licenses.
This regulatory snapshot indicates that while both brokers operate outside the realm of stock exchanges and banking, HFM appears to offer a stronger regulatory background compared to iFOREX. Investors looking for a balance of longer market presence and regulatory oversight may find HFM's blend of Tier-1 and Tier-2 licenses appealing for additional peace of mind.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Year Founded | 2010 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing HFM and iFOREX on commissions and fees, HFM stands out slightly more favorably. HFM's standard trading account typically features a spread of 1.2 pips, though it's important to note that this figure is not bound to a specific date range, suggesting that trading costs might be above industry averages. Moreover, HFM offers a Zero account option with an effective spread of 0.7 pips after commission, but precise average data for this is not provided.
In contrast, iFOREX does not share specific average spread data, making it challenging to definitively evaluate its cost competitiveness. Despite this lack of transparency, both brokers manage to attract traders with their distinct offerings. However, based on available ratings, HFM is rated higher for commissions and fees.
HFM receives a commendable 4-star rating for its commissions and fees, placing it 31st out of 62 brokers ranked by ForexBrokers.com in this category. Meanwhile, iFOREX holds a 3-star rating and is ranked 60th out of 62 brokers, suggesting that traders may encounter higher costs when trading with iFOREX compared to HFM.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HFM and iFOREX, two prominent online brokers, provide opportunities for forex trading through CFDs. Both platforms have distinct offerings when it comes to the variety of investments available. HFM boasts 500 tradeable symbols and offers a notable selection of 102 forex pairs. iFOREX, on the other hand, provides a wider array of 750 tradeable symbols, though it presents slightly fewer forex pairs, totaling 88. Neither broker offers exchange-traded securities on the U.S. or international exchanges, meaning you won't be able to buy shares like Apple or Vodafone directly through them.
Both HFM and iFOREX offer trading in cryptocurrency derivatives, yet neither supports buying actual cryptocurrencies. A key difference is HFM's support for copy trading, a feature not available with iFOREX. HFM has received a higher rating of 4 stars for its range of investments, compared to iFOREX's 3.5 stars. In terms of industry rankings, HFM is positioned at #36 amongst 62 brokers for its investment offerings, whereas iFOREX ranks at #41, making HFM a slightly more versatile option according to ForexBrokers.com.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 750 |
| Forex Pairs (Total) | 102 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
When it comes to choosing a trading platform, both HFM and iFOREX offer unique features tailored to different trader needs. HFM stands out with its offering of a simulated trading environment through a free virtual demo account, allowing new traders to practice without risk. Both brokers provide proprietary platforms developed in-house; however, HFM goes further by supporting MetaTrader 4 and MetaTrader 5, popular platforms known for their tools and services. Additionally, HFM offers a Windows-based desktop platform, providing more flexibility for traders who prefer a download option. Meanwhile, iFOREX offers a web-based platform like HFM but does not support MetaTrader options or Windows-based downloads—potential drawbacks for some traders. Only HFM provides copy trading capabilities, giving users a chance to learn from successful traders, which could be beneficial for those new to the market.
Comparing their charting tools, HFM provides 30 drawing tools, while iFOREX offers just 25. Both platforms allow traders to execute trades directly from stock charts, adding a level of convenience. In terms of watchlist customization, iFOREX supports more fields, offering 9 columns compared to HFM’s 7. Both brokers are rated equally with four stars for their trading platforms and tools, but HFM ranks higher in ForexBrokers.com’s assessment, coming in at 42nd out of 62 brokers, while iFOREX ranks 54th. This subtle edge may guide some traders towards HFM, particularly if they value additional flexibility and tool options. Overall, the choice between the two may come down to individual preferences for platform features and specific trading needs.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 57 |
| Charting - Drawing Tools (Total) | 30 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HFM and iFOREX provide trading apps for iPhone and Android devices, catering to the needs of mobile traders. However, HFM distinguishes itself with several advanced features lacking in iFOREX's app. Traders using HFM can receive stock and forex price alerts directly on their devices, a feature not available with iFOREX. Moreover, HFM supports thirty technical studies for its charting functions, allowing users to conduct in-depth analysis, while iFOREX lacks documented charting studies. HFM also allows users to draw trendlines on charts, view multiple time frames, and autosave drawings, enhancing the trading experience by offering a comprehensive toolkit that iFOREX doesn't match.
For those who take advantage of real-time tracking, HFM facilitates the creation of watchlists with live quotes, a capability not found in iFOREX’s app. While both brokers fall short in offering watchlist symbol syncing between mobile and online accounts, HFM's overall mobile app functionality seems more robust with a higher rank (#39 out of 62) on ForexBrokers.com compared to iFOREX's position at #55. Despite both apps being rated four stars, HFM evidently offers more tools for active traders looking for detailed analysis and real-time monitoring on their mobile devices.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing HFM and iFOREX in terms of market research offerings, both brokers provide daily market commentary to keep traders informed. However, HFM takes an edge by offering forex news from highly reputable sources like Bloomberg, Reuters, or Dow Jones, whereas iFOREX does not. For technical analysis tools, HFM provides access to Autochartist, while iFOREX leverages Trading Central to equip traders with necessary insights. Both brokers also offer sentiment-based trading tools, providing a clear view of market positions across various currency pairs.
Despite some similarities, HFM outperforms iFOREX in terms of overall research quality. HFM's services include an economic calendar showcasing global news events to guide traders, matching iFOREX's similar offering. In research rankings by ForexBrokers.com, HFM holds a notable 20th position out of 62 brokers, backed by a 4-star rating for research, outshining iFOREX, which ranks at 48th with a 3.5-star rating. Although neither broker offers tools from TipRanks or Acuity Trading, HFM's superior ranking highlights its more comprehensive research capabilities.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| 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.
When comparing the educational resources for beginners provided by HFM and iFOREX, HFM clearly stands out as a more comprehensive option. HFM offers over 10 educational pieces focused on forex or CFDs, along with online client webinars held each month. You'll also have access to a searchable archive of previously recorded webinars. This makes it easy for beginners to get up to speed with critical trading concepts. Additionally, they provide at least 10 educational videos tailored specifically for new traders, as well as a comprehensive investor dictionary with definitions for over 50 investing terms. On the other hand, iFOREX does not provide the minimum educational articles or webinars, although it does offer beginner-level educational videos. They also lack an investor dictionary, which might limit understanding for new investors.
HFM scores 4 out of 5 stars for its educational offerings, while iFOREX trails slightly with 3.5 stars. Furthermore, HFM is ranked 37th out of 62 brokers in terms of education by ForexBrokers.com, whereas iFOREX is positioned at 53. For beginners eager to enhance their trading knowledge, HFM provides a more enriching and accessible educational experience compared to iFOREX.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that HFM is better than iFOREX. HFM finished with an overall rank of #30, while iFOREX finished with an overall rank of #52.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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iFOREX
|
|---|---|---|
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| Trust Score | 86 | 75 |
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Both HFM and iFOREX do not provide the option to purchase actual delivered cryptocurrency, but they do offer the opportunity to invest in cryptocurrency derivatives.
When comparing online brokers HFM and iFOREX, neither offers ACH or SEPA transfers for deposits or withdrawals, only iFOREX allows PayPal, but both support Skrill, Visa, Mastercard, and bank wire transactions for managing account funds.
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 | HFM | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HFM Review |
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| Regulation | HFM | iFOREX | |
|---|---|---|---|
| Trust Score | 86 | 75 | |
| Year Founded | 2010 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | 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) | HFM | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 750 | |
| Forex Pairs (Total) | 102 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | HFM | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HFM | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 15 | 57 | |
| Charting - Drawing Tools (Total) | 30 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | HFM | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | HFM | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HFM | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HFM | iFOREX | |
|---|---|---|---|
| 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 | HFM Review |
| Overall | HFM | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HFM Review |
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