Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and HFM are two well-known online brokers, but they differ significantly in terms of trust and regulatory credentials. Established in 1974, IG is not only one of the oldest brokers but is also highly regarded with a top-notch Trust Score of 99 by ForexBrokers.com. As a publicly traded entity and a bank, IG stands out by holding eight Tier-1 licenses, reflecting a high level of trust and reliability. In addition, IG has two Tier-2 licenses, strengthening its stance as a leader in the financial services industry.
In contrast, HFM was founded more recently in 2010 and holds a Trust Score of 86, placing it within the trusted category according to ForexBrokers.com. However, it does not have the added security of being publicly listed or operating as a bank. HFM holds two Tier-1 licenses and three Tier-2 licenses, indicating a good but comparatively lower level of trustworthiness when compared to IG. Despite these differences, HFM remains a reputable choice for traders seeking a reliable online broker.
| Feature |
IG
|
HFM
|
|---|---|---|
| Year Founded | 1974 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing the commission and fee structures of IG and HFM, IG stands out as a top choice for traders who prioritize cost efficiency in their trading activities. IG, ranked #8 out of 62 brokers by ForexBrokers.com for the Commissions and Fees category, boasts an impressive 5-star rating. It provides a tiered pricing system that benefits active traders with its Forex Direct accounts. During July 2023, the average spreads on IG’s Forex Direct accounts were 0.62 pips, or 0.82 pips when accounting for additional trade commissions. Moreover, IG offers competitive spreads averaging 0.69 pips for CFDs, with a notable active trader rebate program that enhances affordability for high-volume traders.
For traders interested in more sophisticated trading strategies, IG's DMA account offers access to tighter spreads and reduced costs based on trading volume. With a base tier commission of $60 per million for volumes under $100 million, commissions can drop to as low as $10 per million for traders with higher volumes. This results in an effective spread of 0.82 pips using July 2023 data. These attributes make IG an excellent option for cost-conscious traders seeking both standard and advanced account options with transparent pricing and significant discounts for high-volume trading.
In contrast, HFM has a 4-star rating and ranks #31 among 62 brokers in the same category according to ForexBrokers.com. HFM's trading costs are slightly above the industry average, with typical spreads of 1.2 pips for standard accounts and 0.7 pips for Zero accounts once commissions are included. However, HFM does not provide a specific date range for these spreads, which suggests a lack of transparency compared to IG. Overall, while HFM's offerings are decent, IG's competitive pricing and transparency in fees make it a more appealing choice for traders who value cost efficiency and comprehensive pricing details.
| Feature |
IG
|
HFM
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 1.2 |
| All-in Cost EUR/USD - Active | 0.82 | 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.
IG and HFM are both popular online brokers offering forex trading as a CFD or spot contract. However, they differ significantly in the variety of investments available to traders. IG clearly stands out with an impressive 19,537 tradeable symbols, while HFM provides 500. Despite this difference, HFM slightly surpasses IG in offering more tradeable forex pairs, with 102 compared to IG's 97. When it comes to exchange-traded securities outside of CFDs, IG provides access to both U.S. and international exchanges, allowing clients to buy shares like Apple and Vodafone. On the other hand, HFM does not offer direct access to exchange-traded securities on either U.S. or international markets.
Both brokers allow traders to buy cryptocurrency derivatives, though neither offers the purchase of actual cryptocurrencies. A notable feature offered by HFM is copy trading, which is not available through IG. In terms of ratings, IG scores highly with five stars for its range of investments, securing the fourth spot among 62 brokers as per ForexBrokers.com. Meanwhile, HFM, with a four-star rating, places at number 36 in the same category. This comprehensive comparison highlights how IG offers a broader selection of investment opportunities, while HFM's strength lies in forex pairs and the additional benefit of copy trading.
| Feature |
IG
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 500 |
| Forex Pairs (Total) | 97 | 102 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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.
Both IG and HFM offer traders an array of powerful tools and platforms to enhance trading experiences, including simulated trading with demo accounts, proprietary platforms, and compatibility with MetaTrader 4 (MT4). IG, however, does not support MetaTrader 5 (MT5), which is available with HFM, expanding the latter's offerings for those interested in the latest in trading technology. While both brokers ensure that their platforms can be accessed on Windows-based desktop and web browsers, HFM stands out with copy trading services, offering additional strategic choices for traders. Additionally, HFM provides a more extensive suite of 30 drawing tools compared to IG's 20, which could benefit those keen on detailed chart analysis. Despite these tools, IG offers trading directly from stock charts within fewer steps due to its higher rating.
IG's trading platforms and tools have earned it an impressive 5-star rating and the second spot in the ForexBrokers.com ranking out of 62 brokers, reflecting its reputation for quality and efficiency. In comparison, HFM receives a still respectable 4-star rating and ranks 42nd, indicating room for improvement in its offerings. When comparing watch list capabilities, IG provides five columns while HFM offers seven, giving investors more options for monitoring their portfolios. Each broker has its unique strengths, making them solid choices depending on specific trading needs and preferences.
| Feature |
IG
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 15 |
| Charting - Drawing Tools (Total) | 20 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, IG and HFM both provide solid options for traders on the go. Both brokers offer apps available for iPhone and Android users, ensuring compatibility with a wide range of devices. For those who value timely information, both IG and HFM deliver stock and forex price alerts, catering to the needs of active traders. However, IG stands out with its ability to sync watchlist symbols across its mobile app and online platform, a feature missing from HFM's offering. Charting enthusiasts will appreciate that both apps allow the drawing of trendlines and viewing of multiple time frames. Yet, IG offers slightly more technical studies for in-depth analysis, with 33 compared to HFM's 30.
IG's app also ranks highly with a perfect 5-star user rating and is recognized as the best in its class, holding the top spot out of 62 brokers as per ForexBrokers.com. In contrast, HFM trails behind with a 4-star rating and ranks 39th. Both apps provide the functionality of creation of real-time quote watchlists and auto-saving chart drawings, appealing features for traders seeking real-time market updates. Overall, while both brokers have commendable mobile trading apps, IG's comprehensive features and top-tier ratings make it a standout choice for traders looking for seamless mobile trading experiences.
| Feature |
IG
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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.
When comparing IG with HFM in terms of market research offerings, both brokers provide daily market commentary and deliver forex news from top-tier sources like Bloomberg and Reuters. They also offer traders access to tools from Autochartist for technical or fundamental analysis, and both lack offerings from Trading Central. Sentiment-based trading tools are available from each broker, letting traders gauge market sentiment across various instruments. However, IG shines with additional market research offerings from TipRanks and Acuity Trading, which HFM does not provide. Both brokers support traders with an economic calendar to track global news events, but IG's array of tools appears to be more comprehensive.
In terms of research quality, IG stands out, earning a 5-star rating compared to HFM's 4-star rating. Moreover, IG is ranked 2nd among 62 brokers in the Research category on ForexBrokers.com, which reflects its superior standing. HFM, while still strong, ranks 20th, indicating that while it offers solid research resources, it doesn't quite match the depth and breadth provided by IG. Investors prioritizing market research may find IG's offerings more appealing due to the added value and higher industry recognition it receives.
| Feature |
IG
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing online brokers IG and HFM in terms of educational resources for beginners, both platforms deliver a comprehensive suite of materials tailored to help novice traders. IG and HFM each offer a variety of educational content, including at least ten articles, videos, or webinars focused specifically on forex and CFDs. Both brokers also conduct monthly webinars to enhance learning, complemented by a searchable archive of past sessions, ensuring that clients have continuous access to valuable insights and expert-led discussions.
Additionally, IG and HFM provide extensive beginner-focused video content, ensuring that new traders have access to numerous learning opportunities. For those looking to deepen their understanding, both brokers offer over ten advanced educational videos. Each platform also includes an investor dictionary with definitions for more than fifty investing terms, aiding in the demystification of financial jargon. However, IG holds a higher accolade, receiving a perfect five-star rating for its education offerings and securing the top rank out of 62 brokers, as highlighted by ForexBrokers.com. In contrast, HFM, rated four stars, is positioned at 37th in the same category.
| Feature |
IG
|
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 IG is better than HFM. IG finished with an overall rank of #1, while HFM finished with an overall rank of #30.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both IG and HFM do not offer the ability to buy actual delivered cryptocurrencies but provide options to purchase cryptocurrency derivatives, not the actual cryptocurrency.
When comparing the deposit and withdrawal options of online brokers IG and HFM, IG provides more variety with ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, whereas HFM lacks ACH or SEPA transfers and PayPal but includes Skrill, along with offering Visa or Mastercard and bank wires just like IG.
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 | IG | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | HFM Review |
| Broker Screenshots | IG | HFM | |
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| Regulation | IG | HFM | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1974 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | IG | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 500 | |
| Forex Pairs (Total) | 97 | 102 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | IG | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | HFM | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $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 | IG | HFM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 15 | |
| Charting - Drawing Tools (Total) | 20 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 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 | IG | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | HFM Review |
| Overall | IG | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | HFM Review |
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