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Interactive Brokers vs HFM 2024

BrokerNotes.co

Written by BrokerNotes.co

August 06, 2024

Trying to decide between Interactive Brokers and HFM? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Interactive Brokers ranks more highly than HFM.

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  • check_box_outline_blankcheck_boxActivTrades
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Compare

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Overall Rating Interactive Brokers HFM
Overall Rating star 9.9 /10 star 7.8 /10
Offering of Investments star 10 /10 star 7.5 /10
Commissions & Fees star 10 /10 star 7.5 /10
Platform & Tools star 10 /10 star 7.5 /10
Research star 10 /10 star 8.0 /10
Mobile Trading star 9.5 /10 star 7.5 /10
Education star 10 /10 star 7.0 /10
Account Type Interactive Brokers HFM
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info No Yes
Islamic Account info No Yes
Deposit/Withdrawal Options Interactive Brokers HFM
Minimum Deposit info $0 $0
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
PayPal (Deposit/Withdraw) info No No
ACH or SEPA Transfers info Yes No
Copy Trading Interactive Brokers HFM
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Interactive Brokers HFM
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info No Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) Interactive Brokers HFM
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Interactive Brokers HFM
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments Interactive Brokers HFM
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Interactive Brokers HFM
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses Interactive Brokers HFM
Tier-1 Licenses info 9 2
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes 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 info 2 3
Tier-3 Licenses info 0 0
Research, Education Interactive Brokers HFM
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No Yes
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs Interactive Brokers HFM
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 0.63 info 1.2 info
All-in Cost EUR/USD - Active info 0.63 info 0.7 info
Active Trader or VIP Discounts info Yes No
Trading Tools Interactive Brokers HFM
Watchlists - Total Fields info 640 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 128 15
Mobile Charting - Indicators / Studies info 70 30
Trust Factors Interactive Brokers HFM
Year Founded info 1977 2010
Publicly Traded (Listed) info Yes No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 99 86
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Interactive Brokers vs HFM Comparison

Comparing forex brokers side by side is no easy task. Our research 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. Trying to decide between Interactive Brokers and HFM? Our independent database powered by our unbiased research will help you compare Interactive Brokers vs HFM side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust Interactive Brokers?

Interactive Brokers has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Can I trust HFM?

HFM has a Trust Score of 86, giving it a "Trusted" Trust Score Label.

Is Interactive Brokers a good broker?

Founded in 1977, Interactive Brokers is a long-standing highly trusted broker that holds a stunning nine Tier-1 licenses from regulatory jurisdictions across the globe numerous regulatory licenses. We've consistently rated Interactive Brokers as an excellent choice for professional traders, and its Trader Workstation (TWS) platform offers a variety of advanced trading tools that will be appreciated by experienced traders. Interactive Brokers delivers access to over 100 markets, including forex and CFDs. IBKR's recently introduced web-based platform is a great choice for beginner forex traders, and its powerful research and extensive educational content make for a balanced experience for newcomers and professionals alike.

Is HFM a good broker?

HFM is a trusted broker that offers an enhanced MetaTrader experience. Traders at HFM gain access to both MetaTrader 4 and MetaTrader 5 alongside third-party upgrades like Premium Trader Tools from FX Blue Labs and trading signals via the Autochartist plugin. HFM also offers its own proprietary copy trading platform, HFcopy, and a proprietary mobile trading platform, the HFM app. It's worth noting that you'll need to hold a Premium account with HFM to use the HFM app for trading.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. Interactive Brokers holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). HFM, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: United Kingdom (U.K.) (FCA Authorised). Neither have New Zealand (FMA Authorised) and Switzerland (FINMA Authorised)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, Interactive Brokers is India (SEBI Authorised), while HFM is Cyprus (CySEC Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses Interactive Brokers is none, while HFM is Mauritius (FSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that both Interactive Brokers and HFM offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does Interactive Brokers offer MetaTrader? Does HFM offer MetaTrader?

For MetaTrader Interactive Brokers provides neither of these, while HFM provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do Interactive Brokers and HFM differ in terms of minimum deposit? What about average spreads and funding options?

Interactive Brokers requires a minimum deposit of $0, while HFM requires a minimum deposit of $0. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that Interactive Brokers supports Bank Wire (Deposit/Withdraw) for funding and deposit methods, whereas HFM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Interactive Brokers or HFM?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that Interactive Brokers delivers a more diverse selection of investment options than HFM, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; Interactive Brokers offers 8500, and HFM offers a total of 500 tradeable symbols.

Can I trade cryptocurrency with Interactive Brokers or HFM?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that Interactive Brokers offers clients access to trading physical cryptocurrencies while HFM does not.

Who offers more research tools, Interactive Brokers or HFM?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. Interactive Brokers delivers the following research tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). HFM, on the other hand, provides the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

Interactive Brokers Review

HFM Review

Overall winner: Interactive Brokers

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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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