Choosing between IC Markets and HFM? The pick will boil down to what you value most in a Forex broker – the robust platforms provided by IC Markets or affordability that HFM offers.
Table of content
- The Exchange Ring: IC Markets vs HFM
- On the left corner weighing dominant platforms, IC Markets, and on the right corner, boasting affordability, HFM!
- Platforms and Tools: Techs and Specs
- It’s a Clash of the Titans: Metatrader and cTrader wrestling the WebTrader!
- Trading Costs: The Tug of War of Affordability
- It’s a doughnut eating contest where the smallest bill wins! (Just kidding, we’re talking about spreads and commissions.)
- Educational and Research Resources: The Nerds’ Battle Ground
- It’s a Nerd-pocalypse! Where the mightiest knowledge reigns supreme!
- Regulation and Security: The Ultimate Gladiator Showdown
- “Aren’t you entertained?” They bellow like Maximus, brandishing their Regulatory Shields in the Colosseum!
- Trading Instruments Offered: It’s a Marketplace Extravaganza!
- It’s like having a Black Friday sale and a Cyber Monday deal all in one place! Except that Monday takes forever to come!
- Account Types: A Pageantry of Choices
- It’s a masquerade ball and these providers have brought out all their finest gowns – but which one fits you best?
- Frequently Asked Questions: Cross-Examination on the Stand
- It’s like that taxing game of ’20 Questions’ on a road trip except here, we have the answers already!
- 1. What is the minimum deposit requirement for IC Markets and HFM?
- 2. Do IC Markets or HFM offer Islamic accounts?
- 3. Can I access MetaTrader on HFM?
- 4. Do IC Markets and HFM offer demo accounts?
- 5. How good are the mobile trading options for IC Markets and HFM?
- 6. Are the educational resources provided by IC Markets and HFM beneficial for beginners?
- 7. Which broker is more suited for scalping and high-frequency trading?
- 8. Does HFM support the use of EAs (Expert Advisors)?
- Customer Support: Who’s the Better Knight in Shining Armour?
- In the Medieval Times, which broker would be the chivalrous knight to rescue you from the Dragon of Complex Trading?
- Disclaimer And General Risk Warning:
- Author & Expert Trader - Financial Analyst:
Be mindful: Trading involves risk and may lead to loss of capital.
Be mindful: Trading involves risk and may lead to loss of capital.
|Publicly traded company?||Yes||No|
|Does it offer banking services?||Yes||No|
|Website Language Options||en, ar, dan, de, es, fr, ne, nor, po, ru, swe, it, swi||en, ar, chi(t/s), de, es, fr, po, ru, tur, thai, ko, ind, viet, mal, it, tag|
|Separate Client Funds?||Yes||Yes|
|Non-ESMA Branches Available?||Yes||Yes|
|EU Clients Accepted?||Yes||Yes|
|US Clients Accepted?||Yes||No|
|Canadian Clients Accepted?||No||No|
➤ Elite Signals | Stock, Crypto, & Forex
Type of assets offered:
|Forex (e.g. USDJPY or EURGBP)||Yes||Yes|
|Options and futures (S&P500 Futures or Crude Oil Futures)||Yes||Yes|
|Funds Van(ARK invest or BlackRock Equity Dividend)||No||Yes|
|CFDs (Google Share in CFD form)||Yes||Yes|
|Cryptos (BTC or ETH)||Yes||Yes|
|Stocks and ETFs (TESL or AAPL)||Yes||Yes|
|Commodities (Gold or Silver market)||Yes||Yes|
|Beginner-friendly (demo-account access)||Yes||Yes|
|Advanced /pro (High-frequency trading, algorithmic trading)||Yes, supports (HFT, Algo, API)||No|
|Binary option (note this is non-regulated trading, considers EXTREME risk)|
🏛️Tier 1 Regulatory Bodies:
|FSA (Financial Services Authority)||(Body replaced by(FCA) in 2013)||(Body replaced by(FCA) in 2013)|
|FCA (Financial Conduct Authority)||Yes||No|
|MAS (Monetary Authority of Singapore)||Yes||No|
|FINMA (Swiss Financial Market Supervisory Authority)||Yes||No|
|CFTC (Commodity Futures Trading Commission)||Yes||No|
|MIFID-ESMA (Markets in Financial Instruments Directive)||Yes||Yes|
|ASIC (Australian Securities and Investments Commission)||Yes||No|
|IIROC (Investment Industry Regulatory Organization of Canada)||No||No|
|SFC (Securities and Futures Commission)||No||No|
🏛️Tier 2 Regulatory Authorities:
|FMA (Financial Markets Authority)||Yes||No|
|CBR (Central Bank of Russia)||No||No|
|FSCA (Financial Sector Conduct Authority)||Yes||No|
|SEC (Securities and Exchange Commission)||No||No|
|DFSA (Dubai Financial Services Authority)||Yes||No|
|CBRC (China Banking Regulatory Commission)||No||No|
|CySEC (Cyprus Securities and Exchange Commission)||No||Yes|
|ISA (Israel Securities Authority)||No||No|
🏛️Tier 3 Regulatory Oversight:
|MMA (Maldives Monetary Authority)||No||No|
|EDR (External Dispute Resolution)||No||No|
|FSA (Seychelles Financial Services Authority)||No||Yes|
|SCB (Securities Commission of The Bahamas)||No||No|
|FSC (Financial Services Commission, Mauritius)||No||No|
|VFSC (Vanuatu Financial Services Commission)||No||No|
|IFSC (International Financial Services Commission, Belize)||No||No|
|CIMA (Cayman Islands Monetary Authority)||No||No|
|SVG (St. Vincent & Grenadines Financial Services Authority)||No||No|
|FSRC (Financial Services Regulatory Commission, St. Kitts & Nevis)||No||No|
|BMA (Bermuda Monetary Authority)||Yes||No|
|BVI (British Virgin Islands Financial Services Commission)||No||No|
Max Leverage Options:
|Leverage for Non-EU Clients||200:1||1000:1|
|European Leverage Limits||30:1||30:1|
|Leverage in Australia||200:1||30:1|
|US Leverage Restrictions||50:1||0|
|Canadian Leverage Rules||0||0|
|Demo Account Access||Yes||Yes|
|Expiration of Demo Accounts||No||Yes|
|Account Currency Choices||AUD, EUR, GBP, USD, ZAR, AED, CHF, JPY, NZD, SGD||EUR, GBP, USD, ZAR, AED|
|Low-cost Account (nano lots)||Yes|
|Variable Spread Accounts||Yes||Yes|
|Fixed Spread Accounts||No||No|
|Zero Spread Accounts||No||Yes|
|Professional Trading Accounts||Yes||Yes|
|Active Trader Rewards Program||Yes||No|
💰Deposits and Withdrawals:
|Minimum Deposit Requirements||Yes $300||5|
|Minimum Withdrawal Limits||No||No|
|Credit Card Options||Yes||Yes|
|Bank Transfer Availability||Yes||Yes|
|Additional Payment Methods||Bank Transfer, Credit Card,PayPal||Bank Transfer,Credit Card ,PayPal, Neteller,Skrill|
|Deposit Processing Time||instant||up to 10 minutes|
|Withdrawal Processing Time||1 business day||2 business days|
Fees and Charges:
|Commissions on Withdrawals||No||No|
|Account Inactivity Fees||Yes||No|
|Currency Conversion Costs||Yes||No|
|Are bonus Programs Available?||No||Yes|
Security Protocols and Measures:
|(AML) Policy Compliance||Yes||Yes|
|Know Your Customer (KYC)||Yes||Yes|
|Twitter Follower Counts||10.2K||9754|
💹Forex Fixed Spreads:
|EUR/GBP Spread Range||No||No|
|EUR/USD Spread Range||No||No|
|USD/JPY Spread Range||No||No|
|GBP/USD Spread Range||No||No|
|USD/CHF Spread Range||No||No|
|AUD/USD Spread Range||No||No|
|USD/CAD Spread Range||No||No|
|NZD/USD Spread Range||No||No|
Trade Execution Methods:
|Direct Market Access (DMA)||Yes||No|
|Straight Through Processing (STP)||Yes||Yes|
|Electronic Communication Network (ECN) Execution||No||Yes|
|Market Maker Model||No||No|
|Non-Dealing Desk (NDD) Approach||Yes||No|
|First In, First Out (FIFO) Rule Application||No||No|
|4-Digit Decimal Pricing||Yes||Yes|
|5-Digit Decimal Pricing||Yes||Yes|
Order Types & Tools:
|Stop Loss Orders||Yes||Yes|
|Take Profit Orders||Yes||Yes|
|Fill or Kill (FOK) Orders||No||No|
|Trailing Stop Orders||Yes||Yes|
|Margin Call Alerts||Yes||Yes|
|One Cancels Other (OCO) Orders||No||No|
|Guaranteed Stop Loss Orders||Yes||Yes|
|Negative Balance Protection Measures||Yes||Yes|
|Minimum Trade Sizes||0.01 lots||0.01 lots|
|Maximum Trade Sizes||100 lots||100 lots|
Available Asset Classes:
|Forex Currency Pairs||90||51|
|Exchange-Traded Funds (ETFs)||20||No|
|Initial Public Offerings (IPOs)||Yes||No|
|Dow Jones Index||No||No|
|FTSE 100 Index||Yes||Yes|
|Nikkei 225 Index||Yes||9|
|Gold Market Trading||Yes||Yes|
Special Account Features:
|Multi-Account Manager (MAM)||No||No|
|Percentage Allocation Money Management (PAMM)||No||Yes|
|Social Trading Integration||No||Yes|
|Copy Trading Support||No||Yes|
|Lot Allocation Money Management (LAMM)||No||No|
Supported Trading Techniques:
|Spread Betting Opportunities||Yes||No|
|Automated Expert Advisor (EA) Integration||Yes||Yes|
|Virtual Private Server (VPS) Options||Yes||Yes|
|Application Programming Interface (API) Support||Yes||Yes|
Trading Tools and Features:
|One-Click Trade Execution||Yes||Yes|
|Signal Trading Availability||Yes||Yes|
|Price Alert Notifications||Yes||Yes|
|Number of Chart Indicators Offered||22||51|
|Number of Chart Drawing Tools Provided||17||31|
|Direct Trading From Charts||Yes||Yes|
Mobile Trading Compatibility:
|Windows Mobile App||No||No|
|Mobile Trading Signal Integration||Yes||No|
|App for Smartwatches||No||No|
|Forex Mobile Trading||Yes||Yes|
|CFD Mobile Trading||Yes||Yes|
|Alert Notifications on Mobile Devices||Yes||Yes|
|Mobile Charting and Drawing Tools||Yes||Yes|
|Languages Supported on Mobile App||en, de, es, fr, po||en, ar, de, es, fr, gre, po, pol, ru, thai, ind, mal, it, chi|
|Watchlist Feature on Mobile App||Yes||Yes|
|Crude Oil Trading||2.8||0.05|
|Natural Gas Trading||No||1.1|
Stock Trading Fees:
|Amazon (AMZN) Shares||$0-$3||$0-$2.50|
|Ford Motor Co Shares||$0-$3||$0-$2.50|
|Alphabet (GOOGL) Shares||$0-$3||$0-$2.50|
|Adobe (ADBE) Shares||$0-$3||$0-$2.50|
|Microsoft (MSFT) Shares||$0-$3||$0-$2.50|
|Nvidia (NVDA) Shares||$0-$3||$0-$2.50|
Index Trading Fees:
|FTSE 100 Fee Structure||1||1.18|
|S&P 500 Fee Structure||0.4||0.4|
|Dow Jones Fee Structure||-||2.8|
|Nasdaq Fee Structure||1||2.08|
|CAC 40 Fee Structure||1||1|
|DAX 30 Fee Structure||2||1.5|
|Nikkei 225 Fee Structure||7||9|
|Euro Stoxx 50 Fee Structure||2||No|
Cryptocurrency Trading Fees: Maker-Taker-Spread
|Bitcoin Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Ethereum Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Ripple Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Binance Coin Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Cardano Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Solana Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Polygon Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Dogecoin Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Chainlink (LINK) Fees||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Polkadot (DOT)||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
|Avalanche (AVAX)||0.01%, 0.07%, Up to 2.5%||0.10%, 0.10%, Up to 2%|
Available Trading Platforms:
|cTrader Desktop App||No||No|
|cTrader Web Interface||No||No|
|Mirror Trader Platform||No||No|
|MT4 Desktop Interface||No||Yes|
|MT4 Web Platform||No||Yes|
|MT5 Desktop App||No||Yes|
|MT5 Web Interface||No||Yes|
|Proprietary Desktop Software||No||No|
|Proprietary Web-based Platform||Yes||No|
|Mac-Compatible Platform Options||Yes||No|
|Sirix Trading Platform||No||No|
|Platform Tutorial Videos||Yes||Yes|
|Beginner-Level Trading Videos||Yes||Yes|
|Expert-Level Trading Videos||Yes||Yes|
Customer Support Options:
|Callback Request Feature||No||No|
|Email Support Availability||Yes||Yes|
|Live Chat support||Yes||Yes|
|Offered Support Languages||en, ar, dan, de, es, fr, ne, nor, po, ru, swe, it, swi||en|
|In-Depth Professional Reports||Yes||Yes|
|Social Trading Features - Social Newsfeeds||Yes||Yes|
|Economic Event Calendar||No||No|
|Daily Email With Trading Ideas||Yes||Yes|
|Analysis From Trading Central (Recognia)||No||No|
|Analysis From Delkos Research||No||No|
|Trader Sentiment Metrics||Yes||No|
|Twitter-Based News Updates||Yes||Yes|
|Facebook-Based News Updates||Yes||Yes|
|Daily Market Commentary||Yes||Yes|
The Exchange Ring: IC Markets vs HFM
On the left corner weighing dominant platforms, IC Markets, and on the right corner, boasting affordability, HFM!
Both IC Markets and HFM are heavyweights in the forex broker industry. However, choosing between them can seem like trying to pick a cat out of a feline fashion parade; they’re both catwalk divas in their own right. But don’t you worry, we have swooped right in with this detailed side-by-side comparison of IC Markets and HFM updated for 2023.
Platforms and Tools: Techs and Specs
It’s a Clash of the Titans: Metatrader and cTrader wrestling the WebTrader!
IC Markets hosts both MetaTrader and cTrader platforms – it’s like having the power of Hercules and Zeus in your arsenal. Its social trading features and advanced charting tools are pure seductive sirens for seasoned traders.
HFM, like David, takes on the trading giants with its versatile and customizable WebTrader platform. Its user-friendly interface is like an inviting oasis, ensuring even the trading novices don’t wander lost in the desert of data.
Trading Costs: The Tug of War of Affordability
It’s a doughnut eating contest where the smallest bill wins! (Just kidding, we’re talking about spreads and commissions.)
HFM swings low with competitive spreads as low as 0.2 pips, making it the ideal choice for budget-conscious traders. IC Markets requires a wider spread starting off, but their commission-based accounts offer low-cost trading opportunities, creating a balanced competition arena.
Educational and Research Resources: The Nerds’ Battle Ground
It’s a Nerd-pocalypse! Where the mightiest knowledge reigns supreme!
Ensuring not a single trader feels like a kindergartener lost in a quantum physics lecture, IC Markets and HFM both offer top-end educational resources including webinars, eBooks, and video tutorials. It’s a draw in this round with their mutual commitment to making Forex trading intelligible to all.
Regulation and Security: The Ultimate Gladiator Showdown
“Aren’t you entertained?” They bellow like Maximus, brandishing their Regulatory Shields in the Colosseum!
In the highly regulated Forex market, both IC Markets and HFM earn their marks; IC Markets is regulated by ASIC and CySEC, while HFM is governed by FCA. These heavyweights are like gladiators bearing the mark of the Emperor – a regulatory seal that assures you of their trustworthiness.
Trading Instruments Offered: It’s a Marketplace Extravaganza!
It’s like having a Black Friday sale and a Cyber Monday deal all in one place! Except that Monday takes forever to come!
The variety of trading instruments offered by IC Markets and HFM are as diverse as a flamboyant Mardi Gras parade. From Forex, commodities, indices, to cryptocurrencies, precious metals, and bonds, these platforms offer a variety of choices to all types of traders with assorted risk appetites. While IC Markets has a slight edge with the offering of futures, HFM celebrates its own bountiful harvest with the availability of ETFs.
Account Types: A Pageantry of Choices
It’s a masquerade ball and these providers have brought out all their finest gowns – but which one fits you best?
IC Markets and HFM triumph in offering multiple account types. IC Markets has Standard and Raw Spread offerings that woo the masses, while HFM’s diverse account types include Mini, Standard, and Advanced. Be it an enthusiastic novice stepping onto the dance floor or a seasoned waltzer, both providers indeed cater to every trader’s distinct needs. So, Trader, who do you crown the Champion of your trading coliseum – IC Markets with its platform prowess or HFM with its affordability allure? Regardless of which you pick, may your trading quest be etched with profits and learning. Happy Trading 2023!
Frequently Asked Questions: Cross-Examination on the Stand
It’s like that taxing game of ’20 Questions’ on a road trip except here, we have the answers already!
1. What is the minimum deposit requirement for IC Markets and HFM?
IC Markets sets a minimum deposit of $200, while HFM allows traders to start with as low as $50. So, pocket-conscious traders, HFM gives you a run for less money!
2. Do IC Markets or HFM offer Islamic accounts?
Yes, both IC Markets and HFM provide Islamic (swap-free) accounts, affirming their commitment to serve a diverse trader population. Good news for traders with Sharia-compliant trading requirements!
3. Can I access MetaTrader on HFM?
Unfortunately no. It’s like asking for a Big Mac at Subway. HFM has its own Web-based platform, which is quite user-friendly, even for beginners.
4. Do IC Markets and HFM offer demo accounts?
Absolutely yes! It’s like getting a test drive before you buy your car. Both IC Markets and HFM offer demo accounts to help new traders get familiar with their platforms and trading in general.
5. How good are the mobile trading options for IC Markets and HFM?
Both IC Markets and HFM offer mobile trading with superb functionality – both have their mobile-friendly applications, perfect for those who want to trade on the go.
6. Are the educational resources provided by IC Markets and HFM beneficial for beginners?
Yes, both firms provide impressive educational resources. Like attending university-level courses for trading, both platforms will enrich you with knowledge, irrespective of your current trading proficiency.
7. Which broker is more suited for scalping and high-frequency trading?
IC Markets’ Raw Spread account and rapid execution make it a popular choice for scalpers and high-frequency traders. But remember, it’s not about fast and furious, but rather, mindful decision-making!
8. Does HFM support the use of EAs (Expert Advisors)?
Yes, HFM supports the use of EAs. It’s like having a trusted sidekick to take care of trading while you’re tied up with other things (like enjoying a cup of well-deserved coffee)!
Have more questions on IC Markets vs HFM? Feel free to leave your questions in the comments below, and we’ll equip you with the right answers in no time!
Customer Support: Who’s the Better Knight in Shining Armour?
In the Medieval Times, which broker would be the chivalrous knight to rescue you from the Dragon of Complex Trading?
IC Markets impresses with its 24/7 customer service, ensuring no trader feels deserted on a lonely island amidst market volatility. HFM also keeps up with a reliable support team but falls slightly behind by sticking to the traditional business hours.
In the end, the duel between IC Markets and HFM boils down to individual trading preferences – the appealing platforms by IC Markets or the enticing affordability of HFM. Which gladiator champions in your arena that caters to your peculiar needs will be your ultimate choice. Happy Trading!
Disclaimer And General Risk Warning:
- ► The information provided should not be seen as financial advice and is only intended for entertainment and informational purposes.
- ► Financial asset providers listed offer a variety of financial products and services, including Stocks, Crypto assets, and CFDs.
- ► CFDs are complex instruments with high risk due to leverage. In fact a 77% to 86% of retail investor accounts lose money when trading CFDs. Make sure you understand how CFDs work and evaluate whether you can afford the potential risk of losing your money.
- ► Past performance does not guarantee future results. A trading history of less than 5 complete years may not be sufficient for making investment decisions.
- ► Financial asset providers do not constitute investment advice. The value of your investments can fluctuate, putting your capital at risk.
- ► Cryptoasset investments are highly volatile and may be unregulated in some jurisdictions. Consumer protection may not be available, and taxes on profits could apply.
- ► USA financial asset providers are not affiliated with any specific entity and do not offer CFDs. The platforms take no responsibility for the accuracy or completeness of the content in this publication, which is based on publicly available, non-entity-specific information.
► Trade with caution and be warned!