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 comes out ahead of HFM on commissions and fees, especially for active traders. Pepperstone is rated 5 stars and ranked #5 out of 36 brokers by ForexBrokers.com for the Commissions and Fees category. Its Razor account uses commission-based pricing with low spreads, and Pepperstone listed an average EUR/USD spread of 0.10 pips in July 2024, which works out to about 0.80 pips all-in after commission. Its Standard account is commission-free but less competitive, with an average EUR/USD spread of 1.1 pips, making it the pricier choice versus Razor.
HFM is rated 4 stars and ranked #30 out of 36 for Commissions and Fees, placing it well behind Pepperstone. HFM says its standard accounts typically have spreads around 1.2 pips, though no date range is provided, so the true average could be higher. Its Zero account can get down to an effective 0.7 pips after commission, but that figure is not an average spread. Overall, HFM’s pricing is slightly above the industry average, while Pepperstone offers better value overall, particularly for frequent traders who can also use the Active Trader rebates.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Minimum Deposit | $10 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.1 | 1.8 |
| All-in Cost EUR/USD - Raw spread account | 0.8 | 1.1 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and HFM both give traders access to forex as either CFDs or spot contracts, and both also support copy trading and crypto CFDs. Where Pepperstone stands out is the wider selection overall, with 2,631 tradeable symbols and 65 forex pairs compared with HFM’s 344 symbols and 38 forex pairs. Neither broker offers exchange-traded shares on U.S. or international stock exchanges, so you cannot buy real listed stocks like Apple or Vodafone through either platform.
For crypto, Pepperstone has an extra edge because it lets clients buy actual cryptocurrency as well as crypto CFDs, while HFM only offers crypto CFDs. Even so, both brokers receive 4 out of 5 stars for range of investments. In ForexBrokers.com’s ranking for this category, Pepperstone places #23 out of 36 brokers, ahead of HFM at #30, making Pepperstone the stronger choice if you want a broader mix of markets.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2631 | 344 |
| Forex Pairs (Total) | 65 | 38 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | 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 give traders a wide range of platform choices, including free demo accounts for practice, their own in-house platforms, Windows desktop apps, web-based platforms, copy trading, and the popular MetaTrader 4 and MetaTrader 5. Each broker also lets users trade straight from a chart, which can make order placement quicker and easier for active traders. For trading platforms and tools, both are rated 4 out of 5 stars, so in day-to-day use they each offer a similar set of features for many types of traders.
Where they differ is in ForexBrokers.com’s ranking: Pepperstone places #21 out of 36 brokers in the Trading Platforms and Tools category, while HFM is ranked #36. That suggests Pepperstone has the edge overall in this area, even though both brokers cover the main platform basics well. If you want a broker with a broad mix of platform options and trading tools, either can work, but Pepperstone comes across as the stronger pick for platform quality and usability.
| 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) | 90 | 38 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and HFM both offer mobile trading apps for iPhone and Android, along with price alerts, trendline drawing, and auto-saving chart drawings. Both brokers also receive the same 4-star rating for mobile trading apps, so each gives traders a solid basic experience when it comes to trading on the go.
Where Pepperstone pulls ahead is in app features and usability. Its mobile app includes watchlist syncing, so changes made on your phone carry over to your online account, while HFM does not offer this feature. Pepperstone also provides 30 technical studies for charting compared with just 5 at HFM. That stronger feature set may help explain why Pepperstone is ranked #19 out of 36 brokers for mobile trading apps, while HFM sits at #35.
| 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 | 5 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and HFM both give traders useful market research tools, including daily market commentary, forex news from well-known sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool showing long and short positions, and an economic calendar with upcoming global events. Both brokers also provide a solid base for staying on top of market moves, making either one a practical choice for traders who want regular updates and event tracking.
The main difference is in the extra research tools each broker offers. HFM has an edge because it includes Autochartist and Acuity Trading tools such as Signal Centre, while Pepperstone does not offer those options. Neither broker offers Trading Central or TipRanks. Even so, Pepperstone is rated slightly higher for research at 4.5 out of 5 stars and ranks #13 out of 36 brokers, compared with HFM’s 4 stars and #18 ranking.
| Feature |
Pepperstone
|
HFM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and HFM both give beginners a wide range of learning tools, including forex and CFD education with at least 10 pieces of content, monthly online webinars, and 10 or more beginner videos as well as 10 or more advanced videos. That means either broker can help new traders get started with lessons on the basics and more detailed trading topics.
Even so, Pepperstone has the edge for education overall. It is rated 4.5 out of 5 stars for Education and ranks #15 out of 36 brokers at ForexBrokers.com, while HFM is rated 4 out of 5 stars and ranks #31. For beginners looking for more highly rated educational support, Pepperstone stands out as the stronger choice.
| 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 |
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HFM
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| Trust Score | 94 | 85 |
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Pepperstone and HFM both offer cryptocurrency CFDs, but only Pepperstone also allows traders to buy actual, delivered cryptocurrency, while HFM does not provide direct crypto ownership.
Pepperstone vs HFM: Pepperstone supports ACH/SEPA, PayPal, Skrill, and bank wire deposits and withdrawals (Visa/Mastercard not specified), while HFM offers Skrill and bank wires only (no ACH/SEPA or PayPal; Visa/Mastercard not specified).
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) | 2631 | 344 | |
| Forex Pairs (Total) | 65 | 38 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | 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) - Spread-only account | 1.1 | 1.8 | |
| All-in Cost EUR/USD - Raw spread account | 0.8 | 1.1 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | HFM | |
|---|---|---|---|
| Minimum Deposit | $10 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | 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) | 90 | 38 | |
| 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 Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 5 | |
| 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 | No | 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| 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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