Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and HFM both made their debut in the online trading world in 2010. Neither of these online brokers are publicly listed on a stock exchange, nor are they banks, which is pretty common in this sector. When it comes to regulatory trust, Pepperstone is distinctly ahead with a ForexBrokers.com Trust Score of 95 out of 99, positioning it as a highly trusted broker. Pepperstone also holds three Tier-1 licenses, hinting at a higher level of global oversight and reliability.
On the other hand, HFM holds two Tier-1 licenses and boasts a Trust Score of 86, indicating it is still a trusted broker but slightly less so than Pepperstone. In terms of Tier-2 licenses, which denote a reputable level of trust, HFM holds three compared to Pepperstone's two. This mix of regulatory credentials ensures that both brokers offer a reasonable degree of safety and transparency, making them viable options for traders seeking a reliable platform for online trading.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
Pepperstone provides appealing options for high-volume traders, especially through its Razor account paired with the Active Trader program. With the Razor account, traders can benefit from average spreads of just 0.10 pips on major pairs like EUR/USD, though the inclusion of a 0.70 pips commission raises the total cost to 0.80 pips, aligning with industry norms. In contrast, Pepperstone’s Standard account comes with no commission but higher average spreads of 1.1 pips, making it less cost-effective compared to the Razor account.
HFM's trading costs are slightly above the industry average, with its standard account offering spreads around 1.2 pips, lacking specifics on date range. HFM’s Zero account, which combines a raw spread with additional commission, results in an effective spread of 0.7 pips, but without clarity on average measurements, these figures might not consistently reflect market conditions.
Pepperstone shines with a 4.5-star rating for commissions and fees, placing it at #10 out of 62 brokers reviewed by ForexBrokers.com. HFM, on the other hand, earns a 4-star rating and ranks #31 in the same category. While both brokers cater to different types of traders, Pepperstone stands out for those engaging in high-volume trading and seeking competitive pricing.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.00 | 1.2 |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and HFM both offer forex trading as CFDs or spot contracts, but the range of tradeable symbols and forex pairs differs significantly between these online brokers. Pepperstone stands out with a total of 1,726 tradeable symbols, far surpassing HFM's offering of 500 symbols. However, when it comes to forex pairs, HFM takes the lead with 102 pairs compared to Pepperstone's 65. Neither Pepperstone nor HFM allows clients to invest in exchange-traded securities on U.S. or international exchanges, which means direct stock investments like Apple or Vodafone are not available through these platforms.
Both brokers provide opportunities for copy trading and access to cryptocurrency derivatives, though they do not offer actual cryptocurrency purchases. Despite these similarities, Pepperstone is ranked higher for its range of investments, securing the 26th spot out of 62 brokers compared to HFM, which ranks 36th. Both brokers achieve a solid rating of 4 out of 5 stars for their range of investments, highlighting their competitive offerings in the online trading arena.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 500 |
| Forex Pairs (Total) | 65 | 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.
Pepperstone and HFM stand out as strong contenders when it comes to trading platforms and tools, offering a range of services tailored for both beginners and seasoned traders. Both brokers provide simulated paper trading through free virtual demo accounts, allowing new users to get comfortable with trading without any financial risk. Moreover, Pepperstone and HFM have developed their own proprietary trading platforms and also support popular choices like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Desktop and web-based platform options are available at both brokers, ensuring convenience for traders who prefer different interfaces. While Pepperstone and HFM both offer copy trading features, only Pepperstone includes DupliTrade in its offerings, giving it a slight edge in that specific area.
For those interested in charting, Pepperstone and HFM each provide 30 drawing tools, enabling traders to conduct detailed market analysis. Both brokers also allow users to trade directly from stock charts, enhancing the trading experience by offering a streamlined process. When it comes to organizing watch lists, each broker offers seven columns or fields, helping traders manage their investments more efficiently. Although both Pepperstone and HFM receive a four-star rating for their trading platforms and tools, Pepperstone ranks higher at #22 compared to HFM’s #42 in ForexBrokers.com's review of 62 brokers in the category. This distinction highlights Pepperstone's slightly more favorable position in the eyes of industry evaluators.
| Feature |
Pepperstone
|
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) | Yes | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 15 |
| Charting - Drawing Tools (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and HFM both offer high-performing mobile trading apps for iPhone and Android, catering to traders on the go. Both apps allow users to receive stock or forex price alerts, draw trendlines, save chart drawings automatically, and view multiple time frames. An important distinction, however, lies in their ability to sync watchlists. Pepperstone allows you to sync watchlists between the mobile app and online account, ensuring your changes are reflected across platforms. HFM, on the other hand, does not offer this feature.
When it comes to charting, both apps provide users with 30 technical studies, which is ample for conducting comprehensive market analysis. Additionally, creating watchlists with real-time quotes is possible on both platforms. In terms of overall performance, both apps receive a four-star rating. However, according to ForexBrokers.com, Pepperstone ranks higher at 21st out of 62 brokers in the Mobile Trading Apps category, compared to HFM's 39th place, suggesting a slight edge for Pepperstone in the competitive landscape.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
Pepperstone and HFM both provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, making them reliable choices for traders looking to stay informed. Both brokers also utilize Autochartist, a popular tool for technical and fundamental analysis, but neither offers research tools from Trading Central or Acuity Trading. When it comes to sentiment-based trading tools, both Pepperstone and HFM have you covered with features that display the ratio of long and short positions across various assets. Additionally, they each offer an economic calendar to keep traders updated on global events.
In terms of research quality, Pepperstone edges out with a rating of 4.5 stars compared to HFM’s 4 stars. According to ForexBrokers.com, Pepperstone ranks 12th among 62 brokers for its research capabilities, while HFM comes in at 20th place. This distinction indicates that while both brokers offer comprehensive market research, Pepperstone is slightly more favored for its research offerings.
| Feature |
Pepperstone
|
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 | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Pepperstone and HFM provide a comprehensive array of materials to help newcomers navigate the world of forex and CFDs trading. Each broker offers a minimum of 10 educational pieces, including articles, videos, and archived webinars. They also conduct at least one educational webinar each month and maintain a searchable archive of past sessions, ensuring continuous learning opportunities. Additionally, both platforms provide over 10 beginner-focused educational videos and also cater to experienced traders with more advanced content. An investor dictionary with more than 50 terms is also available from each broker, making it easier for new traders to get acquainted with essential terminology.
Despite their similarities in educational offerings, Pepperstone edges ahead with a slightly higher rating of 4.5 stars for its educational resources, compared to HFM's 4-star rating. In rankings by ForexBrokers.com, Pepperstone is positioned at #18 out of 62 brokers for education, while HFM comes in at #37. This suggests that while both brokers offer valuable educational resources for beginners, Pepperstone's content may offer a slight advantage in terms of quality and user satisfaction.
| Feature |
Pepperstone
|
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 Pepperstone is better than HFM. Pepperstone finished with an overall rank of #16, while HFM finished with an overall rank of #30.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 86 |
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Both Pepperstone and HFM do not facilitate the purchase of actual cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
Pepperstone provides versatile funding options including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while HFM offers Skrill, Visa, Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal support.
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 | Pepperstone | HFM | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HFM Review |
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| Regulation | Pepperstone | HFM | |
|---|---|---|---|
| Trust Score | 95 | 86 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | Pepperstone | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | 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 | Pepperstone | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 500 | |
| Forex Pairs (Total) | 65 | 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 | Pepperstone | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | 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) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 15 | |
| Charting - Drawing Tools (Total) | 30 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | 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 | 30 | 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 | Pepperstone | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | HFM Review |
| Overall | Pepperstone | HFM | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HFM Review |
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