Written by ForexBrokers.com
In this head to head comparison of HFM vs iFOREX, 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.
HFM, established in 2010, and iFOREX, founded in 1996, are two online brokers not publicly traded or operating as banks. When assessing trustworthiness, HFM holds a higher ForexBrokers.com Trust Score of 86, categorizing it as a trusted broker. It maintains two Tier-1 licenses, recognized as highly trusted, and three Tier-2 licenses denoting trust. In contrast, iFOREX has a Trust Score of 75, placing it in the average risk bracket with one Tier-1 license and no Tier-2 licenses.
This regulatory snapshot indicates that while both brokers operate outside the realm of stock exchanges and banking, HFM appears to offer a stronger regulatory background compared to iFOREX. Investors looking for a balance of longer market presence and regulatory oversight may find HFM's blend of Tier-1 and Tier-2 licenses appealing for additional peace of mind.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Year Founded | 2010 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
HFM beats iFOREX for commissions and fees based on available data and independent ratings. HFM earns 4/5 stars and ranks 32nd out of 63 brokers for Commissions and Fees at ForexBrokers.com, while iFOREX earns 3/5 stars and ranks 62nd out of 63. HFM’s trading costs are slightly above the industry average, but it does publish some spread figures. By contrast, iFOREX does not provide average spread data, making it harder to gauge typical pricing.
At HFM, the Standard account lists a typical spread of 1.2 pips (no date range provided, so the true average may be higher). Its Zero account advertises an effective spread of 0.7 pips after commission, though this is also not an average. iFOREX does not disclose average spreads, so traders may need to rely on live quotes and platform previews to estimate real trading costs. If pricing transparency and comparability matter to you, HFM has the clearer—though not fully averaged—figures.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
HFM vs iFOREX: both let you trade forex via CFDs or spot contracts, and both focus on CFDs rather than direct share dealing (no buying actual U.S. or international stocks). iFOREX lists more total tradable symbols (about 750) than HFM (about 500), while HFM offers more forex pairs (around 102) than iFOREX (around 88). Neither broker lets you buy actual cryptocurrency, but both provide access to crypto derivatives.
Feature-wise, HFM supports copy trading, while iFOREX does not. For Range of Investments, HFM is rated 4 stars and ranks 37th out of 63 brokers on ForexBrokers.com; iFOREX is rated 3.5 stars and ranks 42nd. Choose HFM if you care most about a larger list of forex pairs and copy trading, or iFOREX if you want a broader overall lineup of tradable CFD symbols.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 750 |
| Forex Pairs (Total) | 102 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
HFM and iFOREX both offer proprietary platforms and web-based trading, and both let you place trades directly from charts. However, HFM provides a free demo (paper) account, supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), includes a Windows desktop platform, and offers copy trading. iFOREX does not provide a demo account, does not support MT4 or MT5, lacks a Windows download, and does not offer copy trading. Neither broker connects to DupliTrade or ZuluTrade.
For charting, indicator counts aren’t specified, but HFM lists 30 drawing tools versus 25 at iFOREX. Watchlists are customizable at both, with HFM offering 7 fields and iFOREX 9. Both brokers earned 4 stars for Trading Platforms and Tools from ForexBrokers.com, with HFM ranked 43rd out of 63 and iFOREX 55th. Choose HFM if you want a demo account, MetaTrader, Windows desktop access, and copy trading; choose iFOREX if you prefer a proprietary web platform and more watchlist fields.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 57 |
| Charting - Drawing Tools (Total) | 30 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
HFM and iFOREX both offer mobile trading apps for iPhone and Android, and each earns 4 out of 5 stars for mobile trading. That said, their standings differ in industry rankings: HFM is placed 40th out of 63 brokers by ForexBrokers.com for Mobile Trading Apps, while iFOREX sits at 56th. Neither broker syncs watchlists between the mobile app and the web platform.
Feature-wise, HFM pulls ahead. It supports price alerts, lets you build watchlists with real-time quotes, and includes 30 technical studies. You can draw trendlines, switch among multiple chart time frames (such as intraday, daily, or weekly), and your chart drawings auto-save. iFOREX, by contrast, does not offer price alerts, real-time quote watchlists, trendline drawing, multiple time frames, or auto-saving of drawings, and it does not list a count of available technical studies. For traders who care about charting tools and alerts on the go, HFM’s mobile app is the more capable choice, while iFOREX covers the basics on both iOS and Android.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
HFM and iFOREX both provide daily market commentary, sentiment tools, and an economic calendar. The key differences are in news and research add-ons: HFM streams forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones and includes Autochartist tools, while iFOREX does not offer top-tier news but does feature Trading Central. HFM does not include TipRanks or Acuity Trading tools; for iFOREX, TipRanks and Acuity Trading support is not specified.
For overall research quality, HFM is rated 4 stars and ranks #20 out of 63 brokers on ForexBrokers.com, whereas iFOREX is rated 3.5 stars and ranks #49. Choose HFM if you want integrated premium news and Autochartist analysis; pick iFOREX if Trading Central is your preferred toolkit.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by HFM and iFOREX, HFM stands out as a top pick for beginners eager to understand forex and CFDs. HFM provides more than 10 educational pieces focused on these subjects, alongside monthly webinars and an archive of past webinar recordings, giving learners ongoing opportunities for improvement. In addition to beginner videos, HFM also supplies at least 10 advanced educational videos for experienced traders and an investor dictionary covering over 50 terms, providing a comprehensive learning experience. iFOREX, however, lacks the variety offered by HFM, as it does not fulfill the minimum requirement of 10 educational pieces focused on forex or CFDs and does not offer regular webinars or archived recordings for its clients. Both platforms do provide at least 10 educational videos aimed at beginners, though iFOREX does not extend its video resources to advanced traders like HFM.
Rated 4 stars for education, HFM is positioned at #37 out of 63 brokers according to ForexBrokers.com. This highlights its commendable performance in delivering educational content. In contrast, iFOREX receives a slightly lower 3.5-star rating and stands at #53 in the same ranking, reflecting gaps in its educational offerings. Whether you're taking your first steps in trading or looking to deepen your knowledge, HFM’s extensive range of materials and support mechanisms make it the superior choice for newcomers seeking a comprehensive learning experience. iFOREX, while offering some beginner resources, may leave learners looking for more in terms of variety and in-depth educational opportunities.
| Feature |
HFM
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that HFM is better than iFOREX. HFM finished with an overall rank of #30, while iFOREX finished with an overall rank of #52.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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iFOREX
|
|---|---|---|
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| Trust Score | 86 | 75 |
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Both HFM and iFOREX do not provide the option to purchase actual delivered cryptocurrency, but they do offer the opportunity to invest in cryptocurrency derivatives.
When comparing online brokers HFM and iFOREX, neither offers ACH or SEPA transfers for deposits or withdrawals, only iFOREX allows PayPal, but both support Skrill, Visa, Mastercard, and bank wire transactions for managing account funds.
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 | HFM | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HFM Review |
| Broker Screenshots | HFM | iFOREX | |
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| Regulation | HFM | iFOREX | |
|---|---|---|---|
| Trust Score | 86 | 75 | |
| Year Founded | 2010 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | 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) | HFM | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | HFM | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 750 | |
| Forex Pairs (Total) | 102 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | HFM | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | HFM | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 15 | 57 | |
| Charting - Drawing Tools (Total) | 30 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | HFM | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | HFM | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | HFM | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | HFM | iFOREX | |
|---|---|---|---|
| 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 | HFM Review |
| Overall | HFM | iFOREX | |
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| Trust Score | 86 | 75 | |
| Winner | check_circle | ||
| Review | HFM Review |
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