HFM vs IC Markets Forex Broker Comparison
A head-to-head comparison of HFM and IC Markets across regulation, trading costs, platforms, and editorial scoring.
No minimum deposit required, high leverage on offshore entity, and copy trading via HFcopy - with FCA, CySEC, and FSCA regulation.
VS
Score 4.7 / 5
4 bonusesTrue ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.
Our Verdict
IC Markets winsClear Winner
IC Markets comes out ahead with an editorial score of 4.7/5 compared to HFM's 4.1/5.
IC Markets
4.7/5
HFM
4.1/5
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
It's a tie
Both equally suited
Both brokers offer spreads from 0 pips.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for platform choice
Recommended
IC Markets offers more exclusive platform options: cTrader, TradingView.
Best for beginners
Recommended
IC Markets edges out HFM with a higher editorial score (4.7/5 vs 4.1/5), indicating a stronger overall experience for new traders.
HFM vs IC Markets: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.1/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.1 / 5 | 4.6 / 5▲ |
Fees & Spreads 30% weight | 4.1 / 5 | 5.0 / 5▲ |
Platforms & Tools 20% weight | 4.0 / 5 | 4.6 / 5▲ |
Customer Support 10% weight | 4.0 / 5 | 4.5 / 5▲ |
| Founded | 2010 | 2007 |
| Headquarters | Limassol, Cyprus | Sydney, Australia |
| Min deposit | No minimum | $200 |
| Spreads from | 0 pips | 0 pips |
| Commission / lot | $6/lot | $7/lot |
| Max leverage | 2000:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA FSCA CySEC DFSA | FSCA ASIC CySEC |
| Platforms | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 cTrader TradingView |
| Active bonuses | ||
| Visit broker | Visit HFM | Visit IC Markets |
HFM vs IC Markets Forex Broker Pros & Cons
Pros
No minimum deposit required to open an account
Copy trading via HFcopy platform
FCA, CySEC, and FSCA regulation
High leverage up to 2000:1 on offshore entity
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
True ECN routing with raw 0.0 pip spreads
All three major platforms (MT4, MT5, cTrader)
Deep liquidity from 25+ tier-1 sources
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
2000:1 leverage is extremely risky for inexperienced traders
No cTrader support
Zero account commission of $6/lot is above some ECN peers
No proprietary platform
Cons
Not available to US residents
Higher minimum deposit than IG/OANDA
No proprietary platform
HFM vs IC Markets: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
Highlighted rows show where the two brokers differ
| Criteria | HFM | IC Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
HFM vs IC Markets: Frequently Asked Questions
Based on our independent editorial scoring, IC Markets ranks higher with a score of 4.7/5 vs 4.1/5 for HFM. The best choice still depends on your individual trading needs; HFM and IC Markets may each suit different trader profiles.
Both HFM and IC Markets offer spreads starting from 0 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
HFM has a lower minimum deposit of no minimum required, while IC Markets requires at least $200. This makes HFM more accessible for traders with limited starting capital.
Both HFM and IC Markets hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: HFM has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
HFM offers maximum leverage of 2000:1, while IC Markets offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
HFM charges $6 per lot, lower than IC Markets's $7 per lot. Lower commissions benefit active traders who execute many trades per day.
HFM supports MetaTrader 4, MetaTrader 5 and IC Markets offers MetaTrader 4, MetaTrader 5, cTrader, TradingView; both support MetaTrader 4, MetaTrader 5; IC Markets exclusively offers cTrader, TradingView.
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