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HFM vs IronFX 2024

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is HFM better than IronFX? In our analysis of 23 international regulators across 62 of the best forex brokers, HotForex is considered Trusted, with an overall Trust Score of 86 out of 99. IronFX is considered Trusted, with an overall Trust Score of 83 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating HFM IronFX
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 4/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 86 83
Winner check_circle
Review HFM Review
Broker Screenshots HFM IronFX
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation HFM IronFX
Trust Score info 86 83
Year Founded info 2010 2010
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 2 3
Tier-2 Licenses info 3 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 2 1
Tier-1 Licenses (Highly Trusted) HFM IronFX
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) HFM IronFX
Kenya (CMA Authorised) info Yes No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info Yes No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments HFM IronFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 3500 340
Forex Pairs (Total) info 102 83
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 info 1.2 info 1.2
All-in Cost EUR/USD - Active info 0.7 info N/A
Active Trader or VIP Discounts info No Yes
Inactivity Fee info Yes No
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding HFM IronFX
Minimum Deposit info $0 $50
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms HFM IronFX
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools HFM IronFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 15 30
Charting - Drawing Tools (Total) info 30 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading HFM IronFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research HFM IronFX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No Yes
TipRanks info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education HFM IronFX
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes No
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs HFM IronFX
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review HFM Review
Overall HFM IronFX
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Research 4/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 86 83
Winner check_circle
Review HFM Review
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HFM vs IronFX Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare HFM vs IronFX.

Can I trust HFM?

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by two Tier-1 regulators (Highly Trusted), Three tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). HotForex is authorised by the following Tier-1 regulator: Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system.

Can I trust IronFX?

IronFX is not publicly traded and does not operate a bank. IronFX is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), zero tier-3 regulators (low trust), and one tier-4 regulator. IronFX is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

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, 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.

Is IronFX good?

IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where Iron FX has room to further improve as spreads appeared higher than the industry average.

What is the minimum deposit requirement for opening an account with HFM?

To open a trading account with HFM, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with IronFX?

IronFX requires a minimum deposit of $50 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both HFM and IronFX offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Does HFM or IronFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that HFM offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is HFM or IronFX safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that IronFX holds 3 global Tier-1 licenses, while HFM holds 2. HFM holds 3 global Tier-2 licenses, while IronFX holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that HFM (86) earned a higher Trust Score than IronFX (83).

Which trading platform is better: HFM or IronFX?

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

Here’s what trading platforms are available at HFM:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

Here’s what trading platforms are available at IronFX:

  • Proprietary Platform - No
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both HFM and IronFX offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. HFM and IronFX both offer copy trading.

What can I trade with each broker?

HFM provides traders 102 currency pairs (e.g., EUR/USD) compared to IronFX's 83 available pairs. If you are interested in trading CFDs, HFM offers traders access to 3500 CFDs, while IronFX offers access to 340 CFDs; so HFM offers 3160 more CFDs than IronFX.

We found in our testing that HFM offers a more diverse selection of investment options than IronFX, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.

Overall winner: HFM

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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.


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