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Interactive Brokers vs HFM 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Interactive Brokers better than HFM? In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. HotForex is considered average-risk, with an overall Trust Score of 85 out of 99. Learn more about Trust Score.

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Overall RatingInteractive BrokersHFM
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 85
Winner check_circle
Review Interactive Brokers Review HFM Review
RegulationInteractive BrokersHFM
Trust Score 99 85
Year Founded 1977 2010
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 8 1
Tier-2 Licenses 1 3
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)Interactive BrokersHFM
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) Yes No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Interactive BrokersHFM
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) Yes No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No Yes
Tier-3 Licenses (Low Trust)Interactive BrokersHFM
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No Yes
VFSC Authorised (Vanuatu) No No
InvestmentsInteractive BrokersHFM
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 8500 3500
Forex Pairs (Total) 90 47
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 (CFD) No 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).
CostInteractive BrokersHFM
Average Spread EUR/USD - Standard 0.6 info 1.2 info
All-in Cost EUR/USD - Active 0.6 info 0.9 info
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes No
Execution: Market Maker No Yes
FundingInteractive BrokersHFM
Minimum Deposit $0 $5
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsInteractive BrokersHFM
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading No Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsInteractive BrokersHFM
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 640 7
Charting - Indicators / Studies (Total) 128 15
Charting - Drawing Tools (Total) 85 30
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingInteractive BrokersHFM
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 97 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar Yes Yes
ResearchInteractive BrokersHFM
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
Economic Calendar Yes Yes
EducationInteractive BrokersHFM
Has 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 No
Major Forex PairsInteractive BrokersHFM
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 Interactive Brokers Review HFM Review
OverallInteractive BrokersHFM
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 85
Winner check_circle
Review Interactive Brokers Review HFM Review
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Interactive Brokers vs HFM Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs HFM.

Does Interactive Brokers or HFM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is Interactive Brokers or HFM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while HFM holds 1. HFM holds 3 global Tier-2 licenses, while Interactive Brokers holds 1. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers earned a higher Trust Score than HFM.

Which trading platform is better: Interactive Brokers or HFM?

To compare the trading platforms of both Interactive Brokers and HFM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to HFM's 47 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 8500 CFDs while HFM has 3500 available CFDs, a difference of 5000.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust HFM?

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). HotForex is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA).

Is Interactive Brokers good?

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Is HFM good?

Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, and provides a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average, and its HF mobile app does not yet support trading.

Overall winner: Interactive Brokers

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announcementPlease 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.

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.
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