Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
IC Markets, founded in 2007, and HFM, established in 2010, are both reputable online brokers in the trading industry. Neither of them is publicly traded or operates as a bank, aligning their focus squarely on offering trading services. In terms of regulatory safety, both brokers hold two Tier-1 licenses, designating them as highly trusted according to ForexBrokers.com. However, when it comes to Tier-2 licenses, which are considered trusted, IC Markets holds none while HFM has three, offering additional regulatory reassurance.
When comparing their overall trustworthiness, HFM scores slightly higher with an 86 Trust Score compared to IC Markets' 84. These scores reflect their commitment to security and transparency, as outlined by ForexBrokers.com's rating system. While both brokers are deemed trustworthy, HFM edges out IC Markets by a small margin, potentially offering traders a bit more peace of mind given its additional Tier-2 licenses and slightly higher Trust Score.
| Feature |
IC Markets
|
HFM
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
IC Markets vs HFM on pricing: IC Markets earns 5/5 stars and ranks #5 of 63 for Commissions & Fees, taking Best in Class honors in 2024 thanks to small effective spreads and a low deposit requirement on its commission-based accounts. HFM earns 4/5 stars and ranks #32 of 63, with pricing that sits slightly above the industry average.
IC Markets offers three account types: Standard (spread-only), Raw Spread on MT4/MT5, and cTrader Raw Spread. Commissions are $3.00 per side ($6 round turn) on cTrader and $3.50 per side ($7 round turn) on MT4/MT5, per 100,000 units. IC Markets lists its average EUR/USD spread at 0.02 pips; after adding commission, the all-in cost is about 0.62 pips on cTrader and 0.72 pips on MetaTrader. The Standard account averages about 0.62 pips with no commission. Pricing can vary by platform, account type, and the IC Markets entity you choose (Cyprus, Australia, or Seychelles), and active traders who exceed 100 standard lots per month can qualify for discounts.
HFM’s trading costs are generally higher. Its Standard account shows a typical 1.2-pip spread (no date range provided, so the true average may be worse). The Zero account cites a 0.7-pip effective spread after commission, but this figure is not presented as an average. In practice, HFM’s quoted costs tend to trail IC Markets’ typical all-in pricing, especially on EUR/USD, though your results will depend on account selection and live market conditions.
| Feature |
IC Markets
|
HFM
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | 1.2 |
| All-in Cost EUR/USD - Active | 0.62 | 0.7 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing IC Markets vs HFM for range of investments: both brokers let you trade forex as CFDs or spot, and both support copy trading. IC Markets lists 3,583 tradeable symbols, far more than HFM’s 500. That said, HFM offers more currency pairs (102 vs 61 for IC Markets). Both brokers offer cryptocurrency derivatives, but neither lets you buy actual crypto.
For stocks, neither broker provides direct access to U.S.-listed shares; however, IC Markets does offer exchange-traded international shares, while HFM does not. Overall, IC Markets earns 4.5/5 stars for Range of Investments (ranked #26 of 63), edging HFM’s 4/5 stars (#37 of 63). Pick IC Markets if you want a broader market list or international share dealing; consider HFM if your focus is a larger choice of forex pairs.
| Feature |
IC Markets
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 500 |
| Forex Pairs (Total) | 61 | 102 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | 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.
Comparing IC Markets vs HFM for trading platforms and tools: both brokers offer a free demo (paper) account, copy trading, and the ability to place orders directly from charts. Each supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), with both web-based and Windows desktop platforms available. A key difference is that HFM also provides its own proprietary platform, while IC Markets sticks to third‑party options. Details on integrations like DupliTrade or ZuluTrade, as well as counts for indicators, drawing tools, or watch list columns, aren’t specified here.
For ratings, both IC Markets and HFM earn 4 stars for Trading Platforms and Tools. However, IC Markets ranks higher in this category at #16 out of 63 brokers on ForexBrokers.com, compared with HFM at #43. In short: choose IC Markets if you prefer a higher-ranked, third‑party platform lineup; pick HFM if having a broker-built platform alongside MT4/MT5 matters to you.
| Feature |
IC Markets
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | 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 |
| Charting - Indicators / Studies (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing IC Markets vs HFM for mobile trading apps, both brokers deliver iPhone and Android apps with price alerts, real-time watchlists, and capable charting. Each app includes 30 built-in technical studies, lets you draw trendlines, and auto-saves your chart annotations. One limitation is that neither broker syncs watchlist symbols between the mobile app and the web platform. Details on viewing multiple time frames in the mobile apps were not specified by the source.
In terms of recognition, both IC Markets and HFM earn 4 stars for Mobile Trading Apps. However, IC Markets ranks higher in the category (#22 of 63) compared to HFM (#40 of 63), suggesting IC Markets has a slight edge in overall industry standing. If you’re choosing between the two, IC Markets may appeal if rankings matter to you, while HFM offers a similar feature set for traders who prefer its ecosystem.
| Feature |
IC Markets
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings, both IC Markets and HFM provide traders with valuable tools and information. Both brokers offer daily market commentary and access to forex news from reputable sources like Bloomberg and Reuters. They include technical and fundamental research through Autochartist, as well as sentiment-based trading tools to show market position ratios. Each provides an economic calendar that tracks important global events, crucial for informed trading.
In terms of differences, IC Markets surpasses HFM by offering Trading Central’s advanced analytical tools. However, both brokers do not feature market research from TipRanks or Acuity Trading's Signal Centre. In the ForexBrokers.com ranking, while both have strong research ratings of four stars, HFM edges out IC Markets slightly, positioned at #20 compared to IC Markets’ #23. These distinctions make both platforms reliable options, though IC Markets has a slight edge in analytical capabilities.
| Feature |
IC Markets
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing IC Markets and HFM for beginner education: both brokers run ongoing client webinars (at least monthly) and each provides 10+ beginner videos plus 10+ advanced videos to help new traders learn core concepts and strategies. It’s not specified whether either broker offers a searchable archive of recorded webinars. We also don’t have confirmation on whether each broker’s wider forex/CFD education library clearly meets a 10-piece threshold across articles, videos, or archived webinars, and an investor dictionary with 50+ terms isn’t specified for either.
Both IC Markets and HFM earn 4 stars for Education, but IC Markets ranks higher overall on ForexBrokers.com (#16 of 63) than HFM (#37 of 63). If you want regular webinars and plenty of beginner-friendly and advanced videos, both are solid options; if overall education ranking matters most, IC Markets has the edge.
| Feature |
IC Markets
|
HFM
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than HFM. IC Markets finished with an overall rank of #20, while HFM finished with an overall rank of #30.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 86 |
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Both IC Markets and HFM provide opportunities for trading cryptocurrency derivatives, yet neither platform allows the purchase of actual cryptocurrency for delivery.
IC Markets vs HFM: both lack ACH/SEPA and support Skrill and bank wires; IC Markets additionally supports PayPal (HFM does not), and Visa/Mastercard availability is not specified for either.
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 | IC Markets | HFM | |
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| Trust Score | 84 | 86 | |
| Winner | check_circle | ||
| Review | IC Markets Review | HFM Review |
| Broker Screenshots | IC Markets | HFM | |
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| Regulation | IC Markets | HFM | |
|---|---|---|---|
| Trust Score | 84 | 86 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | 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) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | IC Markets | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 500 | |
| Forex Pairs (Total) | 61 | 102 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | 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 | IC Markets | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.7 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IC Markets | HFM | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | HFM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | 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 |
| Trading Tools | IC Markets | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | HFM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IC Markets | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | HFM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IC Markets | HFM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD [DELETED] | |||
| Review | IC Markets Review | HFM Review |
| Overall | IC Markets | HFM | |
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| Trust Score | 84 | 86 | |
| Winner | check_circle | ||
| Review | IC Markets Review | HFM Review |
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