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 |
When comparing the commissions and fees of online brokers HFM and iFOREX, there are notable differences that can influence your trading decision. HFM's trading costs are slightly above the industry average, with their standard accounts typically offering spreads around 1.2 pips. For traders seeking lower spreads, HFM's Zero account provides an effective spread of 0.7 pips after commissions. However, it's important to note that both figures aren't confirmed as averages, so actual trading costs might vary. With a strong performance in this area, HFM earns a 4 out of 5-star rating and holds the 31st position out of 63 brokers according to ForexBrokers.com.
iFOREX, on the other hand, does not provide average spread data, making it more challenging for traders to assess potential costs accurately. This lack of disclosure may be something traders want to consider when evaluating their options. Despite this, iFOREX earns a 3 out of 5-star rating for commissions and fees according to the same source. Ranking lower than many of its competitors, iFOREX stands at the 61st position out of 63 brokers in the Commissions and Fees category.
In summary, HFM generally offers more transparency and competitiveness in spreads and commissions compared to iFOREX. Whether you're trading with wider spreads or higher commission models, understanding these differences in trading costs can guide you toward a broker that better fits your financial strategy. HFM's higher rating and ranking might appeal to cost-conscious traders who prioritize clear information on trading expenses.
| 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.
When comparing the range of investments between HFM and iFOREX, both brokers offer forex trading as CFDs, ensuring flexibility and accessibility for traders. HFM provides 500 tradeable symbols, while iFOREX offers a slightly broader selection of 750 symbols. However, HFM stands out with 102 tradeable forex pairs compared to 88 pairs available at iFOREX. Neither broker offers exchange-traded securities on U.S. or international stock exchanges, which means clients of both platforms cannot directly purchase stocks such as Apple or Vodafone.
In addition to forex trading, both HFM and iFOREX allow trading of cryptocurrency derivatives, though neither offers the option to buy the actual cryptocurrencies. HFM adds a unique advantage with its copy trading feature, a service iFOREX does not provide. Evaluating their overall range of investments, HFM earns a 4-star rating compared to iFOREX’s 3.5 stars. In terms of industry rankings by ForexBrokers.com, HFM is positioned at #36 out of 63 brokers for the Range of Investments, while iFOREX is ranked at #41, reflecting a slightly more extensive offering by HFM in this category.
| 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.
When comparing the trading platforms of HFM and iFOREX, HFM stands out with its wide range of features. It provides a free virtual demo account for simulated trading, allowing newcomers to practice before committing real funds. Both brokers have developed proprietary platforms, ensuring unique user experiences. HFM is more versatile with its Windows-based desktop download option, while iFOREX does not offer this feature. Both brokers support web-based trading platforms, making it convenient for users who prefer browser-based access. However, HFM offers more flexibility by including popular platforms like MetaTrader 4 and MetaTrader 5, alongside a copy trading feature, which iFOREX lacks.
In terms of charting tools, HFM includes 30 drawing tools, surpassing iFOREX's offering of 25, and both brokers allow trading directly from stock charts. Although HFM offers only 7 fields for watch lists compared to iFOREX's 9, it ranks higher in industry evaluations. ForexBrokers.com rates both brokers at 4 stars for their trading platforms and tools. However, HFM ranks 42nd out of 63 brokers, notably outperforming iFOREX, which sits at 54th. Both brokers share certain similarities, but HFM provides a more comprehensive trading environment for users looking for diverse options and flexibility.
| 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.
Comparing the mobile trading apps of HFM and iFOREX reveals some noteworthy differences for traders. Both brokers offer apps for iPhone and Android, catering to a wide range of users. While HFM excels in providing price alerts and drawing tools on its charts, iFOREX doesn't offer these features. This gives HFM an edge for traders looking for these functionalities on the go. Additionally, HFM's app supports 30 technical studies for charting, offering ample analysis opportunities not specified for iFOREX.
When it comes to user experience, neither app allows watchlist symbol syncing, which could be inconvenient for users wanting seamless integration between mobile and online platforms. HFM, however, allows users to create watchlists with real-time quotes, unlike iFOREX. While both apps receive a decent four-star rating for their mobile trading experience, industry rankings place HFM at #39 compared to iFOREX at #55 out of 63 brokers, showcasing a modest advantage for HFM in terms of overall mobile app performance.
| 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 and offer sentiment-based trading tools that reveal a ratio of long or short positions across various instruments. However, when it comes to forex news, HFM stands out by offering updates from top-tier sources like Bloomberg and Reuters, which iFOREX lacks. HFM also integrates technical analysis tools from Autochartist, whereas iFOREX offers research tools from Trading Central instead. Both platforms provide economic calendars for tracking global news events.
When comparing their market research sophistication, HFM receives a higher rating of 4 stars out of 5, ranking #20 out of 63 brokers on ForexBrokers.com. Meanwhile, iFOREX garners a rating of 3.5 stars, placing it at #48. While both brokers are committed to offering valuable trading insights, HFM's access to top-tier news sources and advanced analysis tools gives it a competitive edge in the research category.
| 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 | No |
| Signal Centre (Acuity Trading) | No | 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
|
|---|---|---|
| Overall Rating |
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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 |
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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) | 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) | HFM | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | 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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