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 both made their debut in the online trading world in 2010. Neither of these online brokers are publicly listed on a stock exchange, nor are they banks, which is pretty common in this sector. When it comes to regulatory trust, Pepperstone is distinctly ahead with a ForexBrokers.com Trust Score of 95 out of 99, positioning it as a highly trusted broker. Pepperstone also holds three Tier-1 licenses, hinting at a higher level of global oversight and reliability.
On the other hand, HFM holds two Tier-1 licenses and boasts a Trust Score of 86, indicating it is still a trusted broker but slightly less so than Pepperstone. In terms of Tier-2 licenses, which denote a reputable level of trust, HFM holds three compared to Pepperstone's two. This mix of regulatory credentials ensures that both brokers offer a reasonable degree of safety and transparency, making them viable options for traders seeking a reliable platform for online trading.
| 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 |
When comparing online brokers Pepperstone and HFM for their commissions and fees, Pepperstone generally stands out with its Razor account and Active Trader program, especially for high-volume traders. Pepperstone's Razor account utilizes a commission-based pricing model, offering an average spread of 0.10 pips for the EUR/USD, and with commission, this amounts to a total cost of 0.80 pips, which aligns closely with industry standards. Meanwhile, Pepperstone's Standard account is commission-free but incurs higher costs with an average spread of 1.1 pips on the EUR/USD. The broker's Active Trader program provides rebates based on trading volume across different markets, allowing traders to reduce costs, especially those based in the UK, EU, and Australia.
HFM's fees are slightly above average compared to the industry benchmark. For their standard trading accounts, HFM typically lists a spread of 1.2 pips, though the absence of specified dates could imply variability. The Zero account at HFM appears more competitive, with an effective spread of 0.7 pips after commission; however, this is not an average spread and may fluctuate.
Pepperstone earns a high rating of 4.5 stars for its competitive commission and fee structures, ranking at #10 out of 63 brokers according to ForexBrokers.com. In contrast, HFM receives a 4-star rating and holds the #31 spot in the same category, highlighting Pepperstone's favorable pricing for active traders seeking cost efficiency.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.00 | 1.2 |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
Pepperstone and HFM are both prominent online brokers offering a range of investment options, especially excelling in forex trading. Both provide forex trading as CFDs or spot contracts, but differ in the number of forex pairs available. Pepperstone offers 65 forex pairs compared to HFM's 102. When it comes to the overall number of tradeable symbols, Pepperstone leads with 1,726 available, whereas HFM offers 500. Neither broker offers exchange-traded securities on U.S. or international exchanges, so clients interested in purchasing individual stocks like Apple or Vodafone will need to explore other platforms for those investments.
Both Pepperstone and HFM allow for copy trading and offer cryptocurrency derivatives, although neither provides the ability to buy actual cryptocurrencies. In the Range of Investments category, both brokers have been rated 4 stars, but they have varied rankings by ForexBrokers.com, with Pepperstone at #26 and HFM at #36 out of 63 brokers. This highlights a slight edge for Pepperstone in terms of investment options and availability. Potential investors should carefully consider these features to determine which broker best aligns with their trading needs.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 500 |
| Forex Pairs (Total) | 65 | 102 |
| 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.
Both Pepperstone and HFM offer comprehensive trading platforms catering to the diverse needs of online traders. They provide free virtual demo accounts, allowing users to engage in simulated trading before committing real funds. Each broker has developed its own proprietary platform and supports popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both have web-based and Windows-based desktop platforms, making trading accessible from various devices. Additionally, copy trading is available through each broker, though Pepperstone is uniquely equipped with DupliTrade, while neither broker offers ZuluTrade.
When it comes to trading tools, Pepperstone and HFM stand shoulder to shoulder by offering 30 drawing tools for charting and the capacity for trading directly from charts. They also provide similar watch list capabilities, with seven columns for detailed tracking. Despite achieving an equal rating of four stars for trading platforms and tools, Pepperstone is ranked higher at #22 by ForexBrokers.com than HFM, which holds rank #42. Both brokers exhibit strong offerings, though Pepperstone edges ahead slightly in the rankings, possibly due to its support of DupliTrade and comparative user satisfaction.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 15 |
| Charting - Drawing Tools (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and HFM both offer feature-packed mobile trading apps for iPhone and Android users. Key features for these apps include stock and forex price alerts, the capability to draw trend lines on charts, and the ability to switch between different time frames. Each platform provides users with 30 technical studies for chart analysis and ensures seamless real-time quote updates for watchlists. However, a notable advantage of the Pepperstone app is its ability to sync watchlist symbols with the client’s online account, so changes made on one platform are automatically updated on the other, which HFM does not offer.
Both apps are rated at four out of five stars for their mobile trading capabilities, reflecting their user-friendly design and comprehensive features. Yet, Pepperstone holds a higher rank, positioned at #21 compared to HFM's #39 in ForexBrokers.com's rankings for mobile trading apps out of 63 brokers. This suggests that while both offer strong options for traders on the go, Pepperstone may provide a slightly more enhanced mobile experience.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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.
Pepperstone and HFM are both online brokers that offer comprehensive market research tools to traders. Each platform provides daily market commentary and delivers forex news sourced from top-tier agencies like Bloomberg and Reuters. Both brokers equip traders with Autochartist, offering technical and fundamental analysis insights. However, neither broker provides additional research from Trading Central or engages with companies such as TipRanks or Acuity Trading for enhanced analytical support. Each broker also features an economic calendar that tracks global news events, a vital tool for traders who aim to stay informed on worldwide economic developments.
In terms of extra research capabilities, Pepperstone and HFM both present sentiment-based trading tools that reveal the current long or short positions ratios in various markets. While these features are comparable, Pepperstone edges out HFM slightly in terms of overall research quality. This is reflected in its 4.5-star rating compared to HFM's 4-star rating. When looking at rankings among 63 broker competitors on ForexBrokers.com, Pepperstone claims the 12th spot while HFM takes 20th. This suggests that both brokers offer strong research options, although Pepperstone holds a slight advantage in the eyes of industry reviewers.
| Feature |
Pepperstone
|
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 | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and HFM both offer a comprehensive range of educational resources tailored to help beginners navigate forex and CFD trading. They each provide a minimum of ten educational pieces, including articles, videos, and archived webinars. Beginner-friendly content extends into video libraries with each broker offering at least ten videos covering essential trading topics. Additionally, both brokers host at least one educational webinar each month, complemented by a searchable archive of past sessions.
While both platforms feature an investor dictionary with over 50 trading terms, Pepperstone edges ahead with a slightly higher education rating of 4.5 stars compared to HFM’s 4 stars. This distinction is reinforced by their rankings on ForexBrokers.com, where Pepperstone claims the 17th spot out of 63 brokers for educational offerings, while HFM holds the 37th position. These rankings and ratings highlight Pepperstone's slightly stronger emphasis on education, making it a slightly more attractive choice for novice traders looking to build a solid foundation in trading.
| Feature |
Pepperstone
|
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 Pepperstone is better than HFM. Pepperstone finished with an overall rank of #16, while HFM finished with an overall rank of #30.
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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 86 |
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Both Pepperstone and HFM do not facilitate the purchase of actual cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
Pepperstone provides versatile funding options including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while HFM offers Skrill, Visa, Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal support.
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 | 95 | 86 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HFM Review |
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| Regulation | Pepperstone | HFM | |
|---|---|---|---|
| Trust Score | 95 | 86 | |
| 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 (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) | Pepperstone | HFM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | HFM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 500 | |
| Forex Pairs (Total) | 65 | 102 | |
| 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 | Pepperstone | HFM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | HFM | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | HFM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | HFM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 15 | |
| Charting - Drawing Tools (Total) | 30 | 30 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | 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 | Pepperstone | HFM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | HFM Review |
| Overall | Pepperstone | HFM | |
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| Trust Score | 95 | 86 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | HFM Review |
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