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City Index vs HFM 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is City Index better than HFM? In our analysis of 23 international regulators across 39 of the best forex brokers, City Index is considered low-risk, with an overall Trust Score of 99 out of 99. HotForex is considered average-risk, with an overall Trust Score of 85 out of 99. Learn more about Trust Score.

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Overall RatingCity IndexHFMIG
Overall Rating5 Stars4 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars4 Stars5 Stars
Platform & Tools4.5 Stars4 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research4.5 Stars4 Stars5 Stars
Education4.5 Stars3.5 Stars5 Stars
Trust Score998599
Winnercheck_circle
ReviewCity Index ReviewHFM ReviewIG Review
RegulationCity IndexHFMIG
Trust Score998599
Year Founded198320101974
Publicly Traded (Listed)YesNoYes
BankNoNoYes
Tier-1 Licenses317
Tier-2 Licenses232
Tier-3 Licenses111
Authorised in European UnionYesYesYes
About RegulationA “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)City IndexHFMIG
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)YesNoNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)NoNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)City IndexHFMIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)YesYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoYesYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesYesYes
Tier-3 Licenses (Low Trust)City IndexHFMIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)YesNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoYesNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsCity IndexHFMIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)13500350019537
Forex Pairs (Total)8447100
U.S. Stock Trading (Non CFD)NoNoYes
Int'l Stock Trading (Non CFD)NoNoYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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).
CostCity IndexHFMIG
Average Spread EUR/USD - Standard1.0 (July 2022)1.2 (August 2021)0.86 (September 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)0.9 (August 2021)0.5957 (September 2022)
Active Trader or VIP DiscountsYesNoYes
Execution: Agency BrokerNoNoYes
Execution: Market MakerYesNoYes
FundingCity IndexHFMIG
Minimum Initial Deposit£100.00$5£250.00
PayPal (Deposit/Withdraw)YesNoYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsCity IndexHFMIG
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoYesNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsCity IndexHFMIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields11714
Charting - Indicators / Studies (Total)881533
Charting - Drawing Tools (Total)813020
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingCity IndexHFMIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesNoYes
Mobile Charting - Indicators / Studies883033
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesYesYes
ResearchCity IndexHFMIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistNoYesYes
Trading Central (Recognia)YesNoNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationCity IndexHFMIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesNoYes
Major Forex PairsCity IndexHFMIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewCity Index ReviewHFM ReviewIG Review
OverallCity IndexHFMIG
Overall Rating5 Stars4 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars4 Stars5 Stars
Platform & Tools4.5 Stars4 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research4.5 Stars4 Stars5 Stars
Education4.5 Stars3.5 Stars5 Stars
Trust Score998599
Winnercheck_circle
ReviewCity Index ReviewHFM ReviewIG Review
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City Index vs HFM Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare City Index vs HFM.

Does City Index or HFM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.

Is City Index or HFM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. City Index holds 3 global Tier-1 licenses, while HFM holds 1. HFM holds 3 global Tier-2 licenses, while City Index holds 2. In our analysis of 23 international regulators across 50 brokers, City Index earned a higher Trust Score than HFM.

Which trading platform is better: City Index or HFM?

To compare the trading platforms of both City Index and HFM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both City Index and HFM offer MetaTrader 4 (MT4).City Index and HFM both offer copy trading.

How many forex pairs and CFDs are available to trade?

City Index provides traders 84 currency pairs (e.g., EUR/USD) compared to HFM's 47 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while HFM has 3500 available CFDs, a difference of 10000.

Can I trust City Index?

City Index is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).

Can I trust HFM?

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). HotForex is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA).

Is City Index good?

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.

Is HFM good?

Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, and provides a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average, and its HF mobile app does not yet support trading.

Overall winner: IG

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announcementPlease 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.

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.
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