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 offer different pricing strategies, making them appealing to various types of traders. City Index, with a rating of 4.5 stars for commissions and fees and ranked 14th out of 63 brokers, provides competitive pricing for CFDs, forex, and spread-betting in line with industry averages. Traders can benefit from using City Index’s proprietary platforms or MetaTrader for optimal pricing. The platform averages a spread of 0.74 pips on the EUR/USD. Moreover, their Premium Trader account offers exclusive access and rebates starting at £4 per million for high-volume U.K.-based traders, with higher rebates available for increased volumes.
HFM, on the other hand, has a slightly above-average trading cost, with a 4-star rating and a ranking of 31st in the Commissions and Fees category among 63 brokers. For their standard accounts, the typical spread is 1.2 pips, but without a specified timeframe, the average may vary. Their Zero account offers an effective spread of 0.7 pips after commissions; however, whether this reflects the average spread is uncertain.
In summary, while both brokers are competitive, City Index generally aligns more closely with industry standards and offers additional benefits for active traders through their Premium account. HFM might cater to traders willing to accept slightly higher costs for convenience or other service-based factors.
| 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 choosing between City Index and HFM for online trading, the range of available investments is a key consideration. City Index clearly stands out with an impressive selection of 13,500 tradeable symbols, compared to HFM's 500. While both platforms provide forex trading through CFDs or spot contracts, City Index offers 66 forex pairs in contrast to HFM's 102. However, neither broker provides access to exchange-traded securities on U.S. or international exchanges, such as direct stock purchases for Apple or Vodafone. Additionally, both platforms support copy trading and offer cryptocurrency derivatives, though neither allows for the purchase of actual cryptocurrencies.
In terms of ratings, City Index shines with a 5-star evaluation for its range of investments, ranking #8 among 63 brokers on ForexBrokers.com. By comparison, HFM has a 4-star rating and is ranked #36. These assessments indicate that while both brokers offer a diverse set of investment options, City Index provides a significantly broader spectrum, making it a more attractive choice for traders seeking variety and flexibility in their trading activities.
| 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 offer strong trading platforms tailored to meet a wide range of trader needs. Both brokers provide free virtual demo accounts, allowing users to gain experience without risking real money. They also present proprietary platforms that are developed in-house, alongside popular platforms like MetaTrader 4 (MT4). HFM extends its offerings by including MetaTrader 5 (MT5), which is not available with City Index. Additionally, both platforms support copy trading and trading directly from a stock chart, further enhancing user convenience. However, neither broker supports DupliTrade or ZuluTrade, which may limit some traders' options.
When it comes to tools for enhancing trading strategies, City Index provides a comprehensive suite with 239 drawing tools for charting, compared to HFM’s 30. Both brokers offer web-based and Windows desktop platforms, but City Index provides more detailed watch lists with 11 fields compared to HFM's 7 fields. With a 4.5-star rating for trading platforms and tools, City Index holds a higher standing, ranked as the 11th best out of 63 brokers by ForexBrokers.com, while HFM scores 4 stars and is ranked 42nd in the same category. This indicates City Index's slight edge in platform variety and features, making it a favored choice for some traders.
| 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.
Both City Index and HFM offer accessible mobile trading experiences, providing dedicated apps for iPhone and Android users. Each app supports stock and forex price alerts, allowing traders to stay on top of market movements. You can draw trendlines on charts and view multiple time frames with both apps, features that cater to detailed market analysis. However, City Index takes the lead in some aspects. The ability of its app to sync watchlists with a client's online account provides seamless management of your trading portfolio across different devices, a feature HFM does not offer. Moreover, City Index impresses with 88 technical studies available for charting, significantly more than HFM's 30.
Both platforms allow you to create watchlists with real-time quotes, and any drawings made on charts are auto-saved for future reference. When it comes to user satisfaction, City Index edges out HFM with a rating of 4.5 stars compared to HFM's 4 stars for mobile trading apps. Furthermore, City Index is recognized for its mobile app capabilities, ranking #9 out of 63 on ForexBrokers.com, while HFM is positioned at #39. This suggests City Index's app might be more appealing if you desire a well-rounded and integrated mobile trading experience.
| 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 valuable market research offerings, each catering to a range of trader needs. Both platforms feature daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, ensuring that users stay well-informed about financial market trends. They also provide sentiment-based trading tools that help traders understand the ratio of long or short positions across various instruments. Furthermore, both City Index and HFM offer economic calendars highlighting global news events. However, City Index leverages tools from Trading Central to support technical analysis, whereas HFM fulfills this role with services from Autochartist.
While neither broker utilizes research tools from companies like TipRanks or Acuity Trading, the overall research capabilities and tools available on each platform differ slightly, affecting their ratings and rankings. City Index is rated 4.5 out of 5 stars for research and is ranked 10th out of 63 brokers by ForexBrokers.com. Meanwhile, HFM earns a 4-star rating and holds the 20th position in the same list. These differences highlight City Index's slight edge in research offerings, catering to traders seeking comprehensive market analysis and insights.
| 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.
When it comes to educational resources for beginners, both City Index and HFM offer a strong selection to help newcomers understand the world of forex and CFDs. Each platform provides over 10 educational pieces including articles, videos, and archived webinars focusing on these subjects. They also host online educational webinars for clients at least once a month and maintain a searchable archive of past webinars, allowing users to revisit essential content at their convenience. These resources are supplemented by beginner-friendly videos exploring various trading topics, ensuring that learners have ample materials to begin their trading journey.
Both City Index and HFM also cater to more advanced traders with a library of educational videos designed for experienced investors. Additionally, they offer comprehensive investor dictionaries containing definitions of at least 50 investing terms to help users become familiar with essential jargon. While both platforms excel in their educational offerings, City Index holds a slight edge with a 4.5-star rating compared to HFM's 4-star rating. According to ForexBrokers.com, City Index is ranked 9th out of 63 brokers in the Education category, whereas HFM is positioned at 37th, which may influence users looking for a slightly higher-rated educational experience.
| 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 63 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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