Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and HFM are two well-known online brokers, but they differ significantly in terms of trust and regulatory credentials. Established in 1974, IG is not only one of the oldest brokers but is also highly regarded with a top-notch Trust Score of 99 by ForexBrokers.com. As a publicly traded entity and a bank, IG stands out by holding eight Tier-1 licenses, reflecting a high level of trust and reliability. In addition, IG has two Tier-2 licenses, strengthening its stance as a leader in the financial services industry.
In contrast, HFM was founded more recently in 2010 and holds a Trust Score of 86, placing it within the trusted category according to ForexBrokers.com. However, it does not have the added security of being publicly listed or operating as a bank. HFM holds two Tier-1 licenses and three Tier-2 licenses, indicating a good but comparatively lower level of trustworthiness when compared to IG. Despite these differences, HFM remains a reputable choice for traders seeking a reliable online broker.
| Feature |
IG
|
HFM
|
|---|---|---|
| Year Founded | 1974 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing IG and HFM in terms of commissions and fees, IG stands out due to its scalable execution methods and a wide array of pricing options for active traders. IG offers standard, CFD, and DMA accounts with competitive spreads and pricing. Its Forex Direct account, available through its DMA account, provides an attractive all-in cost of around 0.82 pips by July 2023, especially for active traders who can benefit from commission discounts. Additionally, IG's CFD accounts offer innovative rebates for high-volume traders, with potential discounts encouraging more engaging trading experiences. IG receives a commendable 5-star rating for its commission and fees, ranking 8th out of 63 brokers by ForexBrokers.com.
In comparison, HFM tends to have slightly higher trading costs. The standard trading account at HFM reportedly offers spreads starting at 1.2 pips, although the lack of specific date information may lead to less transparency on average costs. HFM does offer a Zero account option, which includes a more favorable effective spread of 0.7 pips after commissions. However, the effectiveness of these offerings generally results in a slightly lower 4-star rating for commissions and fees, positioning HFM at 31st out of 63 brokers according to ForexBrokers.com.
Overall, IG appears better suited for traders seeking competitive pricing through active trading and clear rebate programs. In contrast, HFM may attract those looking for straightforward account options with fixed spreads, though potentially at a higher average cost. Traders should consider their trading volume and desired account features when choosing between these two brokers.
| Feature |
IG
|
HFM
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 1.2 |
| All-in Cost EUR/USD - Active | 0.82 | 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 comparing IG and HFM, both brokers provide a variety of investment options for traders, but IG stands out with a broader selection. IG offers approximately 19,537 tradeable symbols compared to HFM's 500. Both brokers support forex trading through CFDs or spot contracts, with HFM offering slightly more forex pairs at 102, as opposed to IG's 97. IG provides access to exchange-traded securities on U.S. and international markets, allowing clients to directly purchase shares like Apple and Vodafone, while HFM does not offer this capability. In terms of cryptocurrency trading, IG enables the purchase of actual cryptocurrencies, unlike HFM, which only supports cryptocurrency derivatives.
Though HFM provides features like copy trading, IG's more extensive investment range earns it a higher rating of 5 stars for Range of Investments, compared to HFM's 4 stars. In a ranking by ForexBrokers.com, IG is positioned at #4 out of 63 brokers, reflecting its comprehensive offerings. Conversely, HFM ranks at #36, highlighting its relatively limited investment options. Overall, IG's extensive choice of tradeable instruments may appeal to those seeking a wide array of investment opportunities, while HFM may be a good fit for those interested in copy trading and a focused selection of forex pairs.
| Feature |
IG
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 500 |
| Forex Pairs (Total) | 97 | 102 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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.
IG and HFM both provide a comprehensive suite of trading platforms and tools, catering well to varied trader preferences. Each broker offers a proprietary platform and supports the popular MetaTrader 4. Additionally, both IG and HFM provide Windows-based desktop downloading options and web-based platforms for trading flexibility on various devices. Simulated trading is also available with each broker, allowing users to practice risk-free. While IG does not support copy trading, HFM appeals to traders interested in this feature. Both platforms allow direct trading from stock charts, ensuring a seamless experience for users.
Despite some similarities, there are distinct differences when comparing IG and HFM's platforms. HFM stands out by offering MetaTrader 5 and a greater variety of drawing tools, numbering 30 compared to IG's 20. For those keen on expansive watch lists, HFM provides seven columns, surpassing IG's five. While IG achieves a 5-star rating for its platforms and tools, reflecting its high standing as the #2 of 63 brokers in ForexBrokers.com rankings, HFM holds a commendable 4-star rating, placed at #42. Traders might consider these nuances in ratings, features, and rankings when deciding which broker aligns best with their trading needs.
| Feature |
IG
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 15 |
| Charting - Drawing Tools (Total) | 20 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps offered by IG and HFM, both brokers provide access on iPhone and Android devices, with features like stock and forex price alerts and the ability to draw trendlines on charts. However, users will find some key differences that might influence their decision. For instance, IG allows seamless syncing of watchlists across devices, meaning any changes made in the mobile app reflect in your online account and vice versa, a feature that HFM currently does not offer. Additionally, IG provides a slightly more extensive range of technical studies for charting, with 33 options compared to HFM's 30. Both platforms support multiple time frames for chart analysis and ensure that your chart drawings are automatically saved.
In terms of overall performance and user satisfaction, IG's mobile trading app receives a perfect 5-star rating, while HFM comes in at 4 stars. This difference in ratings is further highlighted by their rankings on ForexBrokers.com, where IG takes the top spot among 63 brokers, showcasing its strong mobile trading capabilities. Meanwhile, HFM is positioned at number 39, indicating room for improvement. Both platforms offer real-time quotes for watchlists, but IG appears to excel in providing a more comprehensive and cohesive mobile trading experience.
| Feature |
IG
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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.
Both IG and HFM provide traders with valuable resources for market research, making daily market commentary readily available. They offer forex news from reputable sources like Bloomberg and Reuters, ensuring traders stay updated with the latest developments. Additionally, both brokers have partnered with Autochartist to provide technical analysis and fundamental research tools. While neither IG nor HFM includes technical analytics from Trading Central, they do offer sentiment-based trading tools that show the ratio of long or short positions across various instruments. Moreover, they provide an economic calendar that highlights global news events impacting different economies.
Where IG stands out is in its exclusive offerings that enhance research capabilities. IG provides access to TipRanks for additional market insights, a feature absent in HFM. Furthermore, IG includes tools from Acuity Trading, such as Signal Centre, which HFM does not offer. Consequently, IG earns a higher research rating with five stars compared to HFM's four stars and holds the prestigious #2 ranking out of 63 brokers. Meanwhile, HFM secures the #20 spot, reflecting a solid but not top-tier position in the industry.
| Feature |
IG
|
HFM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to education for beginners in forex and CFDs trading, both IG and HFM offer a comprehensive array of resources. IG provides a rich selection of more than 10 educational materials including articles, videos, and webinars focused on forex and CFDs, and hosts monthly live webinars for its clients. A searchable archive of past webinars is also available. For those new to trading, IG offers at least 10 targeted beginner videos. Not forgetting more seasoned traders, IG also delivers over 10 advanced videos and features an investor dictionary with more than 50 terms, helping traders become familiar with industry jargon. This dedication to education has earned IG a top rating of five stars and the number one position for education among 63 brokers according to ForexBrokers.com.
Similarly, HFM provides a significant variety of educational resources, meeting the benchmark of over 10 materials on forex and CFDs, and also conducts monthly live educational webinars. A searchable archive of these webinars further supports ongoing learning. In addition, HFM offers over 10 beginner-focused videos as well as a series of advanced trading videos to cater to all experience levels. Their educational tools are rounded out with an investor dictionary featuring over 50 investing terms. Despite the breadth of resources offered, HFM is rated four stars and holds the 37th spot for education among brokers ranked by ForexBrokers.com, indicating a slightly less strong position compared to IG in the educational arena.
| Feature |
IG
|
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 IG is better than HFM. IG finished with an overall rank of #1, while HFM finished with an overall rank of #30.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
HFM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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IG allows clients to buy both actual delivered cryptocurrency and cryptocurrency derivatives, whereas HFM only offers the option to trade in cryptocurrency derivatives.
When comparing the deposit and withdrawal options of online brokers IG and HFM, IG provides more variety with ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, whereas HFM lacks ACH or SEPA transfers and PayPal but includes Skrill, along with offering Visa or Mastercard and bank wires just like IG.
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 | IG | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | HFM Review |
| Broker Screenshots | IG | HFM | |
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| Regulation | IG | HFM | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1974 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | IG | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 500 | |
| Forex Pairs (Total) | 97 | 102 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | IG | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | HFM | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $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 | IG | HFM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 15 | |
| Charting - Drawing Tools (Total) | 20 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 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 | IG | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | HFM Review |
| Overall | IG | HFM | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | IG Review | HFM Review |
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