Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and HFM are online brokers founded in 2010. Neither is publicly traded or a bank. In terms of regulation, Pepperstone holds 3 Tier-1 licenses (highly trusted by ForexBrokers.com) and 2 Tier-2 licenses (trusted), while HFM holds 2 Tier-1 and 3 Tier-2 licenses. That gives Pepperstone more top-tier oversight, with HFM offering wider mid-tier coverage.
ForexBrokers.com assigns Pepperstone a Trust Score of 94/99 (highly trusted: 90–99) and HFM an 85/99 (trusted: 80–89). If you’re weighing safety and regulation, Pepperstone edges ahead on top-tier licensing and overall Trust Score, while HFM remains a trusted option backed by multiple regulators.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
Pepperstone stands out for commissions and fees, earning 5 out of 5 stars and ranking #6 out of 63 brokers in the Commissions and Fees category at ForexBrokers.com. HFM earns 4 out of 5 stars and ranks #28 out of 63. In short, Pepperstone tends to be the cheaper choice for active traders, while HFM’s pricing skews slightly above the industry average.
Pepperstone’s Razor account uses commission-based pricing and listed an average EUR/USD spread of 0.10 pips (July 2024); when you include the commission-equivalent of 0.70 pips, the all-in cost is about 0.80 pips—near the industry average. The commission-free Standard account listed a 1.1-pip average spread on EUR/USD, making it pricier than Razor. High-volume traders can lower costs further with Pepperstone’s Active Trader program: in the U.K. and EU, Professional clients trading at least £20 million per month can get a 15% per-lot spread rebate, improving up to 25% above £200 million; in Australia, Professional clients start at 100 lots over three months for a 10% discount per lot (Tier One), rising to a 30% reduction at more than 3001 lots (Tier Three).
HFM’s trading costs are slightly above average. Its standard accounts have a typical 1.2-pip spread (no date range provided), while the Zero account shows an effective 0.7-pip spread after commission—though this figure isn’t presented as an average. Compared with Pepperstone’s Razor all-in 0.80 pips (average-based), HFM’s Zero headline can appear lower, but the lack of average data makes real-world costs harder to gauge. For frequent traders, Pepperstone’s rebates and transparent averages help it take the lead; for casual traders, Pepperstone’s Standard (1.1 pips) may still edge HFM’s typical 1.2 pips on paper.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.8 |
| All-in Cost EUR/USD - Active | 0.8 | 1.1 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone vs HFM: Both brokers let you trade forex as CFDs or spot contracts. Neither offers access to real exchange-traded shares in the U.S. or abroad, and neither lets you buy real crypto; however, both support cryptocurrency CFDs and copy trading. Pepperstone lists 1,726 tradeable symbols, while HFM offers 500. For currency markets, HFM carries 102 forex pairs compared with Pepperstone’s 65.
For range of investments, both earn 4 out of 5 stars from ForexBrokers.com. Among 63 brokers, Pepperstone ranks #23 and HFM ranks #28. Choose Pepperstone if you want a wider overall menu of CFD markets; pick HFM if your priority is access to more forex pairs. Either way, you’re getting solid breadth for everyday trading.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 500 |
| Forex Pairs (Total) | 65 | 102 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
Pepperstone and HFM both deliver wide platform choice for everyday traders. Each broker offers a free demo (paper trading) account, a proprietary platform, MetaTrader 4 (MT4), MetaTrader 5 (MT5), and copy trading. You can trade on Windows desktop or through a web-based platform, and both let you place orders straight from price charts. Charting and watchlists are available across their platforms, making it easy to analyze markets and track symbols in one place.
When it comes to Trading Platforms and Tools, both Pepperstone and HFM earn 4 stars from ForexBrokers.com. However, Pepperstone ranks higher at #21 out of 63 brokers, compared with HFM at #33, giving Pepperstone a slight edge in this head-to-head. If you’re comparing Pepperstone vs HFM for platform features—MT4/MT5 access, copy trading, web and desktop options, and demo accounts—you’ll find both cover the essentials, with Pepperstone nudging ahead in the category rankings.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and HFM both offer iPhone and Android trading apps with price alerts, 30 built‑in technical studies for charting, trendline drawing, and auto‑saved chart annotations. Each broker’s mobile trading app earns a 4‑star rating, making them solid choices for traders who want alerts and chart tools on the go.
If syncing your watchlists between the mobile app and your online account matters, Pepperstone has the edge—it supports watchlist syncing, while HFM does not. This convenience may save time when switching devices. According to ForexBrokers.com, Pepperstone ranks #19 out of 63 brokers for Mobile Trading Apps, compared with HFM at #32. For most charting and alert needs both apps are comparable, but traders who value cross‑device watchlists may prefer Pepperstone.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and HFM both deliver strong market research for everyday traders. Each broker provides daily market commentary and real-time forex news from major sources (e.g., Bloomberg, Reuters, Dow Jones), plus Autochartist for technical ideas, a sentiment tool showing long/short positioning, and an economic calendar. Neither broker includes Trading Central, TipRanks, or Acuity Trading. Where they differ is in independent scores: Pepperstone earns 4.5 stars for Research and ranks #12 out of 63 brokers at ForexBrokers.com, while HFM holds 4 stars and ranks #18.
If you want the widest set of essentials—news, daily analysis, Autochartist, sentiment, and a clear calendar—both Pepperstone and HFM fit the bill. For a slight edge in research quality and recognition, Pepperstone comes out ahead in the Pepperstone vs HFM research comparison, while HFM remains a close alternative offering a similar toolkit.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone vs HFM for beginner education: both brokers deliver forex and CFD learning paths that cover the basics and help you grow. Each offers at least 10 beginner-focused videos and at least 10 advanced videos, plus ongoing client webinars held at least once a month. This mix makes it easy for new traders to start with simple lessons, attend live sessions to ask questions, and then move into more detailed topics when ready.
When it comes to third‑party ratings, Pepperstone has the edge. Pepperstone earns 4.5 out of 5 stars for Education and ranks 15th out of 63 brokers on ForexBrokers.com, while HFM scores 4 out of 5 stars and ranks 29th. Both are strong choices for beginners seeking structured forex and CFD education, but Pepperstone’s higher rating and ranking suggest a slightly more polished overall experience.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than HFM. Pepperstone finished with an overall rank of #17, while HFM finished with an overall rank of #27.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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HFM
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| Trust Score | 94 | 85 |
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Pepperstone vs HFM: both brokers offer cryptocurrency CFD trading, but neither allows the purchase or custody of actual (delivered) cryptocurrencies.
In this comparison of online brokers Pepperstone vs HFM, Pepperstone supports ACH/SEPA transfers, PayPal, and bank wire deposits/withdrawals, while HFM offers Skrill and bank wires but not ACH/SEPA or PayPal; Visa/Mastercard availability is not specified for either broker.
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 | Pepperstone | HFM | |
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| Trust Score | 94 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HFM Review |
| Broker Screenshots | Pepperstone | HFM | |
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| Regulation | Pepperstone | HFM | |
|---|---|---|---|
| Trust Score | 94 | 85 | |
| 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 | 3 | 2 | |
| Tier-2 Licenses | 2 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | HFM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA 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) | Pepperstone | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 500 | |
| Forex Pairs (Total) | 65 | 102 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | Pepperstone | HFM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 1.8 | |
| All-in Cost EUR/USD - Active | 0.8 | 1.1 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | HFM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | Pepperstone | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | HFM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | HFM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | HFM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Pepperstone | HFM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Pepperstone Review | HFM Review |
| Overall | Pepperstone | HFM | |
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| Trust Score | 94 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HFM Review |
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