Written by ForexBrokers.com
In this head to head comparison of HFM vs IronFX, 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 and IronFX, both founded in 2010, are two online brokers offering various trading services. Neither is publicly traded nor operates as a bank. When considering trust, ForexBrokers.com rates both brokers in the 'trusted' range, with HFM earning an 86 and IronFX receiving an 83 out of 99. This suggests that both brokers carry a similar level of trust, but HFM edges slightly higher in the ratings.
In terms of regulatory licenses, which can offer further peace of mind for traders, HFM holds two Tier-1 licenses and three Tier-2 licenses. Tier-1 licenses are the most trusted, while Tier-2 licenses are also considered trustworthy. IronFX, on the other hand, holds three Tier-1 licenses but lacks any Tier-2 licenses. This indicates that both brokers maintain a strong regulatory standing, albeit with different approaches to obtaining licenses.
| Feature |
HFM
|
IronFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
HFM and IronFX are two popular online brokers, offering different structures for commissions and fees. HFM's trading costs are slightly above the industry average, featuring a typical spread of 1.2 pips for standard trading accounts. Their Zero account offers an effective spread of 0.7 pips after commission, though these figures are not based on a specific date range. HFM received a 4-star rating for its commissions and fees, and is ranked #31 out of 63 brokers by ForexBrokers.com in this category.
IronFX, on the other hand, has some room for improvement in its pricing structure. The typical spread for their Standard variable spread account is listed at 1.8 pips, but like HFM, there is no specified date range. Their zero fixed-spread account begins at zero, with a commission of $18 per lot and spreads that can widen to 3 pips overnight. IronFX also received a 4-star rating for its commissions and fees but is ranked lower than HFM at #46 out of 63 brokers by ForexBrokers.com.
Both brokers offer different advantages depending on your trading strategy. HFM might be more appealing for those seeking tighter spreads with their Zero account, while IronFX may interest traders looking for variable or fixed-spread options. Each broker has been rated 4 stars for their fees, but HFM ranks higher overall in comparisons by ForexBrokers.com. Exploring both platforms and their fee structures can help traders determine which broker aligns best with their trading goals.
| Feature |
HFM
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.2 | 1.2 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 it comes to the range of investments offered, both HFM and IronFX provide a wide array of trading opportunities, but there are some key differences to note. HFM offers 500 tradeable symbols, with 102 forex pairs, which is significantly more than the 340 tradeable symbols and 83 forex pairs available with IronFX. Both brokers support forex trading as CFDs and allow for copy trading, offering investors the ability to emulate the strategies of successful traders. However, neither platform provides direct investment in exchange-traded securities on U.S. or international exchanges, nor do they offer the option to purchase actual cryptocurrencies, focusing instead on cryptocurrency derivatives.
With a 4-star rating, HFM attains a higher evaluation for its range of investments compared to IronFX, which is rated at 3.5 stars. According to ForexBrokers.com, HFM ranks #36 among 63 brokers in this category, while IronFX is positioned lower at #51. This suggests that while both brokers deliver diverse investment options, HFM slightly edges out IronFX in terms of the breadth of investments offered, particularly in forex pairs and total symbols, making it a better choice for traders seeking a more comprehensive selection.
| Feature |
HFM
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 340 |
| Forex Pairs (Total) | 102 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| 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 it comes to comparing trading platforms and tools, both HFM and IronFX offer solid options, including the availability of a free virtual demo account and a Windows-based desktop download platform. Notably, HFM edges ahead with its proprietary platform developed in-house, while IronFX sticks to more widely known platforms like MetaTrader 4. Both brokers accommodate web-based trading and provide the popular MetaTrader 4 for flexibility. However, HFM also supports MetaTrader 5, which IronFX does not offer, potentially giving traders access to more advanced analytical tools and improved execution.
For charting enthusiasts, HFM takes the lead with 30 drawing tools compared to IronFX's 15. Both brokers allow trading directly from stock charts and offer the same number of fields for watch lists. However, in terms of overall platform quality, HFM is rated slightly higher with 4 out of 5 stars versus IronFX's 3.5 stars. According to ForexBrokers.com, HFM is ranked 42nd out of 63 in the Trading Platforms and Tools category, while IronFX is ranked 61st, indicating a preferred choice for those prioritizing trading software sophistication and features.
| Feature |
HFM
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both HFM and IronFX offer a comprehensive experience on iPhone and Android devices. Users of both platforms can set up stock and forex price alerts and can create watchlists with real-time quotes, although neither platform currently supports syncing watchlist symbols between the mobile app and the user's online account. For charting needs, both HFM and IronFX provide an identical offering of 30 technical studies. Users on both platforms can draw trendlines on their charts and view multiple time frames, such as daily, weekly, or intraday. Additionally, any drawings made on charts are automatically saved, enhancing the user experience during trading.
However, there are noticeable differences in user ratings and rankings. HFM receives a commendable 4-star rating for its mobile trading app, ranked 39th out of 63 brokers according to ForexBrokers.com. In contrast, IronFX has a slightly lower rating of 3.5 stars and is positioned further down the list at 62nd place. This indicates that while both platforms offer similar functionalities, user satisfaction and industry rankings tip in favor of HFM for those prioritizing a more highly rated app experience.
| Feature |
HFM
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
When it comes to market research offerings, both HFM and IronFX provide daily market commentary and access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. However, the two brokers differ slightly in the research tools they offer. HFM provides technical analysis tools from Autochartist, along with a sentiment-based trading tool that showcases trader positions across different currency pairs. In contrast, IronFX features technical analysis tools from Trading Central but does not offer sentiment-based trading tools.
Both brokers supply an economic calendar to track current and upcoming global news events affecting various economies worldwide. Despite their differences in available tools, both HFM and IronFX earn a solid 4-star rating for Research. However, HFM ranks higher at #20 in the Research category according to ForexBrokers.com, compared to IronFX's position at #28 out of 63 brokers. This gives HFM a slight edge for traders keen on exploring diverse research tools alongside standard commentary and news updates.
| Feature |
HFM
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| 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 available for beginners at HFM and IronFX, both brokers offer a rich variety of educational pieces focused on forex and CFDs. These resources include articles, videos, and archived webinars. While both brokers present more than 10 beginner-friendly educational videos, HFM takes a step further by organizing online educational webinars regularly each month, an offering not available with IronFX. Additionally, both brokers provide searchable archives of past webinars for easy access, ensuring that users can learn at their own pace.
Beyond the basics, HFM enhances its educational offerings with advanced trading videos, catering not only to beginners but also to more experienced traders. IronFX, on the other hand, does not offer this feature. Both brokers provide comprehensive investor dictionaries with definitions for over 50 investing terms, helpful for all learning levels. In terms of overall education quality, both HFM and IronFX receive a respectable 4-star rating, but HFM is slightly higher in the rankings at 37th place compared to IronFX's 44th position among 63 brokers evaluated by ForexBrokers.com.
| Feature |
HFM
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 HFM is better than IronFX. HFM finished with an overall rank of #30, while IronFX finished with an overall rank of #48.
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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IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 83 |
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Both HFM and IronFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide opportunities to trade cryptocurrency derivatives instead.
Both HFM and IronFX do not provide ACH or SEPA transfers or PayPal for deposits or withdrawals, but they both support Skrill, Visa, Mastercard, and bank wires 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 | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HFM Review |
| Broker Screenshots | HFM | IronFX | |
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| Regulation | HFM | IronFX | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 2010 | 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 | 3 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 340 | |
| Forex Pairs (Total) | 102 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 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 | HFM | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | HFM | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | HFM Review |
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