Interactive Brokers vs HFM 2024
ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Still, trading costs at HFM are slightly above the industry average. 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.
Can I trust Interactive Brokers?
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Is Interactive Brokers or HFM safer for forex and CFDs trading?
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score. 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 Interactive Brokers (99) earned a higher Trust Score than HFM (86). HFM requires a minimum deposit of $0 before you can open an account and start trading. To open a trading account with Interactive Brokers, you’ll need to make an initial minimum deposit of $0.
Compare HFM Competitors
Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that Interactive Brokers offers better pricing overall for traders. Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
How to start trading on HotForex?
HFM holds 3 global Tier-2 licenses, while Interactive Brokers holds 1. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Alongside an enhanced MetaTrader offering and quality research, HFM (HF Markets) offers a proprietary copy trading platform, HFcopy, as well as a decent selection of nearly 1,000 CFDs (including 100+ forex pairs). That said, trading costs at HFM are slightly above the industry average across its spread-only accounts. Not every broker publishes average spread data, and pricing structures vary.
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). 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 Interactive Brokers holds 9 global Tier-1 licenses, while HFM holds 2.
- Each year, we collect thousands of data points and publish tens of thousands of words of research.
- It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you.
- Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets.
- ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry.
- 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.
Please check your email for the login Account ID.For any further clarification please do not hesitate to contact us. HFM does not offer services to residents of certain jurisdictions, including the USA, Canada, Sudan, Syria, Iran, North Korea and others. We review each broker’s limefx website 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.
Forex traders also appreciate the ability to engage in social copy trading. While HFM offers copy trading, Interactive Brokers does not. It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Interactive Brokers offers Bank Wire (Deposit/Withdraw) for banking, whereas HFM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Steven Hatzakis is the Global Director of Research for ForexBrokers.com.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. HFM offers MetaTrader 4 (MT4), while Interactive Brokers does not.
For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership https://limefx.biz/ roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
Select one or more of these brokers to compare against HFM. Yes, based on your detected country of FI, you can open an account with this broker. Help our agents identify you so they can offer more personalized support. Use our international search tool to find a broker that accepts clients from your country. Read our full explanation and accounting of our research and testing process to learn more about how we test.
He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. HFM provides traders 102 currency pairs (e.g., EUR/USD) compared to Interactive Brokers’s 90 available pairs. In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered Highly Trusted, with an overall Trust Score of 99 out of 99. HotForex is considered Trusted, with an overall Trust Score of 86 out of 99.
There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. To compare the trading platforms of both Interactive Brokers and HFM, we tested each broker’s trading tools, research capabilities, and mobile apps.
