HFM vs IC Markets 2026: Fees, Regulation and Platforms Compared
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Checked on: 2026-08-13 | Broker terms, regulation, and pricing can change. Always verify at the official HFM site before opening an account.
Affiliate Disclosure: HNL Growth may earn a commission if you open an account through our links, at no additional cost to you. Risk Warning: CFDs and leveraged forex products are complex instruments and carry a high risk of losing money rapidly due to leverage. Between 65-95% of retail investor accounts lose money when trading CFDs, depending on the HFM entity and account type. Trading forex and CFDs may not be suitable for all investors. Consider your objectives, experience, and risk appetite before trading, and ensure you understand the risks involved. Broker Disclosure: HFM (HF Markets Group) is a live, regulated multi-entity broker (not a simulated prop-firm evaluation) — trades are executed with real capital in live market conditions, subject to normal market risk. Protections vary significantly by the specific legal entity that onboards your account.
HFM vs IC Markets 2026: Fees, Regulation and Platforms Compared
Affiliate disclosure: This page contains affiliate links. We may earn a commission if you open an account through our links, at no additional cost to you. Our editorial process is independent of commercial relationships.
HFM and IC Markets are established CFD brokers that serve different trader priorities. IC Markets is widely regarded as a strong fit for cost-sensitive active traders and scalpers who value tight raw spreads and MetaTrader- or cTrader-based execution. HFM suits multi-asset traders and those who want copy trading, a proprietary mobile app, and regulatory coverage across more jurisdictions. Neither broker is universally better — the right choice depends on your primary instrument, strategy, and which regulatory entity you fall under.
This comparison covers regulation, trading costs on matched account types, platforms, asset range, funding, and copy trading. Conditions are attributed to specific entities where possible, and limitations are flagged throughout. IC Markets data is drawn from publicly available IC Markets information — verify current figures at icmarkets.com before making a decision.
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At a Glance: HFM vs IC Markets
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| Field | HFM | IC Markets |
|---|---|---|
| Year Founded | 2010 ¹ | Per IC Markets published information — verify at icmarkets.com |
| Headline Tier-1 Regulator | CySEC (license 183/12) ² | ASIC — verify current license details at icmarkets.com |
| Additional Regulators | FSA Seychelles, and others — verify full list at hfm.com ² | CySEC, FSA Seychelles — verify at icmarkets.com |
| Min Deposit (lowest account) | $0 (Premium, Zero, Cent — UK entity) ³ | Per IC Markets published information — verify at icmarkets.com |
| EUR/USD Spread (raw/zero) | From 0 pips (Zero account) ³ | Per IC Markets published information |
| Commission per Lot RT (raw/zero) | Applies on Zero account — verify current rate at hfm.com ¹ | Applies on Raw Spread account — verify current rate at icmarkets.com |
| Platforms | MT4, MT5, HFM WebTrader, HFM App ³ | MT4, MT5, cTrader — verify at icmarkets.com |
| Copy Trading | Built-in (HFM App + MT4/MT5) ⁴ | Via cTrader or third-party — verify at icmarkets.com |
| One-Line Verdict | Multi-asset versatility with integrated copy trading | Raw-spread efficiency for active and algo traders |
¹ Source: hfm.com/int/en. ² Source: hfm.com/int/en/trading-instruments/single-product (CySEC entity); hfm.com/int/en (HFM Group). ³ Source: hfmarkets.co.uk/en/trading-accounts (UK entity — conditions on other HFM entities may differ). ⁴ Source: hfm.com/int/en/platforms/mobile-application.
Spread figures are indicative minimums from official broker pages, not independently tested averages. Actual spreads vary with market conditions, entity, and account type.
How This Comparison Works
Every cost figure matches comparable account types: spread-only accounts are compared against spread-only accounts, and commission-based accounts against commission-based accounts. HFM data is sourced from official HFM pages cited throughout. IC Markets data is drawn from publicly available IC Markets information — it has not been verified against official IC Markets source URLs in this evidence set. Where IC Markets figures cannot be confirmed, they are omitted or explicitly flagged for independent verification at icmarkets.com.
Regulatory Standing and Client Protections
HFM — Confirmed Entities
| Regulator | Entity | License / Registration | Retail Client Protection |
|---|---|---|---|
| CySEC (Cyprus) | HF Markets (Europe) Ltd | CIF HE 277582; CySEC 183/12 | ICF up to €20,000; MiFID conduct rules |
| FSA Seychelles | HF Markets (SV) Ltd | Registration 22747 IBC 2015 | No compensation scheme |
| Additional entities | UK, South Africa, Dubai, Kenya coverage referenced on hfm.com | Verify current license details at hfm.com | Varies by entity |
Sources: hfm.com/int/en/trading-instruments/single-product (CySEC entity); hfm.com/int/en/calculators/swaps-calculator (SV entity); hfm.com/int/en (HFM Group overview).
Important — HFM CySEC entity restriction: HF Markets (Europe) Ltd currently accepts only Eligible Counterparties and Professional per se clients. Most retail clients are onboarded under other HFM entities. Source: hfm.com/int/en/trading-instruments/single-product.
IC Markets — Verify at icmarkets.com
IC Markets holds regulation from ASIC and CySEC, among others. Specific entity names, license numbers, and current client protection details are not confirmed in this evidence set — verify all IC Markets regulatory information directly at icmarkets.com before opening an account.
What the tiers mean. Tier-1 regulators (ASIC, FCA) impose the strictest capital adequacy and conduct requirements. Tier-2 regulators (CySEC, FSCA) offer solid oversight with EU-aligned or equivalent frameworks. Offshore registration (FSA Seychelles) provides lighter supervision and no compensation scheme but typically allows higher leverage.
Account Lineup: Matched Comparable Tiers
HFM Account Types
Source: hfmarkets.co.uk/en/trading-accounts — UK entity. Conditions on other HFM entities (hfm.com/int, hfm.com/za, etc.) may differ.
| Account | Min Deposit | Spreads From | Commission on Forex | Max Leverage | Margin Call / Stop-Out |
|---|---|---|---|---|---|
| InfinityX | $500 | 0.3 pips | Not stated | Unlimited ⁵ | 20% / 0% |
| Cent | $0 | 1.4 pips | None | 1:2000 | 50% / 20% |
| Zero | $0 / €0 | 0 pips (forex) | Yes — verify rate at hfm.com | 1:2000 | 50% / 20% |
| Pro | $100 / €100 | 0.6 pips | Not stated | 1:2000 | 50% / 20% |
| Premium | $0 / €0 | 1.4 pips | None | 1:2000 | 50% / 20% |
⁵ "Unlimited" leverage designation and 0% stop-out are as published by HFM for the InfinityX account. See the leverage section below for risk context.
Leverage may be adjusted — refer to hfmarkets.co.uk/en/trading-accounts for current terms. Swap-free applies only to specific instruments; T&Cs apply.
Also available via hfm.com/int/en: the Premium Pro account (from 1 pip spread, $5,000 minimum for Professional Client, 1:400 maximum leverage for Professional Client, MetaTrader 5 / HFM WebTrader / Mobile). This is an international-entity account; conditions differ from the UK entity table above.
IC Markets Account Types
IC Markets account conditions — including minimum deposits, spread figures, commission rates, and leverage caps — are not confirmed in the official evidence set for this article. Verify current IC Markets account details directly at icmarkets.com.
Matched pairs for cost comparison (where IC Markets data is available):
- Spread-only: HFM Premium vs IC Markets Standard
- Commission-based: HFM Zero vs IC Markets Raw Spread
What You Actually Pay: Spread and Commission Benchmarks
The total round-turn cost combines the dollar value of the spread plus any per-lot commission. HFM's Zero account publishes spreads from 0 pips on forex with commissions applying per lot. The specific per-lot commission rate for the HFM Zero account is not confirmed in the supplied official evidence — verify the current rate at hfm.com.
IC Markets' Raw Spread account commission rate is likewise not confirmed in the supplied official evidence — verify at icmarkets.com.
How to compare costs accurately: Run a demo account at each broker simultaneously during your typical trading sessions. Record the live spread on your primary instruments at the same time of day. Add the published commission to get your true round-turn cost. This is the only reliable method given that "from 0 pips" figures are indicative minimums, not session averages.
Beyond the Spread: Other Fees That Matter
| Fee Type | HFM | IC Markets |
|---|---|---|
| Inactivity Fee | Applies after a dormant period — verify trigger period and amount in your client agreement | Applies after a dormant period — verify trigger period and amount at icmarkets.com |
| Deposit Fee | No fee on most methods | No fee on most methods — verify at icmarkets.com |
| Withdrawal Fee | Varies by method; bank wire fees may apply | Varies by method — verify at icmarkets.com |
| Swap-Free Account | Available on specific instruments; T&Cs apply ³ | Available for eligible clients — verify at icmarkets.com |
| Base Currencies | USD, EUR (NGN, JPY, THB, IDR, GHS on some entities) ³ | Multiple currencies — verify current list at icmarkets.com |
Both brokers charge inactivity fees when accounts remain dormant. The trigger period and monthly charge differ between brokers and may vary by entity. Part-time or seasonal traders should review the inactivity policy in their specific client agreement before choosing a broker. IC Markets' inactivity grace period is reportedly longer than HFM's — if confirmed, this is a practical advantage for infrequent traders. Verify current terms at each broker directly.
Both brokers offer swap-free (Islamic) accounts. At HFM, swap-free applies only to specific instruments subject to terms and conditions; availability depends on jurisdiction and entity. Source: hfmarkets.co.uk/en/trading-accounts.
Platforms, Tools, and Execution Infrastructure
| Platform / Tool | HFM | IC Markets | Notes |
|---|---|---|---|
| MetaTrader 4 | Yes ⁶ | Yes — verify at icmarkets.com | Industry standard for EA/algo trading |
| MetaTrader 5 | Yes ⁷ | Yes — verify at icmarkets.com | HFM MT5: 21 timeframes, 80+ indicators, up to 100 charts |
| cTrader | No | Yes — verify at icmarkets.com | DOM and Level II pricing; favored by scalpers |
| Proprietary Web Trader | Yes (HFM WebTrader) ³ | Not confirmed | HFM's browser-based interface |
| Proprietary Mobile App | Yes (HFM App) ⁴ | Not confirmed | HFM App: trade-from-charts, deposits, copy trading in one interface |
| MT4 MultiTerminal | Yes ⁸ | Not confirmed | Manage multiple accounts from a single interface |
| TradingView Integration | Not confirmed | Not confirmed | Neither broker's official evidence confirms direct TradingView trading integration |
| VPS Service | Yes (qualifying conditions) | Per IC Markets published information — verify at icmarkets.com | Deposit and volume thresholds apply |
| Autochartist | Yes (via MT4/MT5) | Not confirmed from official IC Markets source | Automated chart pattern recognition |
| Copy Trading | Built-in (HFM App) ⁴ | Via cTrader / third-party — verify at icmarkets.com | See Copy Trading section below |
⁶ Source: hfm.com/int/en/platforms/mt4-terminal. ⁷ Source: hfm.com/int/en/platforms/mt5-terminal. ⁸ Source: hfm.com/int/en/platforms/mt4-multiterminal.
HFM App. The HFM App is a proprietary mobile platform that integrates trading, fund management, copy trading, and PAMM in a single interface. It was awarded Best Forex Trading App by Capital Finance. Traders can draw on charts, analyze, and execute trades without leaving the chart view. All HFM account types are tradeable on the app.
HFM MT5 features. HFM's MT5 terminal offers 21 different timeframes, 80+ technical indicators, the ability to view up to 100 simultaneous charts, one-click trading, a built-in economic calendar, and hedging. Source: hfm.com/int/en/platforms/mt5-terminal.
Execution note. Both brokers use market execution on commission-based accounts. Specific execution speed statistics, fill rates, and slippage figures are not published by either broker in a standardized format and could not be independently verified for this comparison.
What You Can Trade: Asset Breadth in Context
| Asset Class | HFM | IC Markets | Context |
|---|---|---|---|
| Forex | Yes | Yes — verify at icmarkets.com | Both cover majors, minors, and exotics |
| Metals | Yes (gold, silver) | Yes — verify at icmarkets.com | Standard offering at both brokers |
| Energies | Yes | Yes — verify at icmarkets.com | Oil, gas and related instruments |
| Indices | Yes | Yes — verify at icmarkets.com | Both cover major global benchmarks |
| Stock CFDs | Yes | Yes (reportedly wider selection) — verify at icmarkets.com | IC Markets reportedly has a larger equity CFD catalog |
| Real Stocks | No | No | Neither offers real share dealing |
| ETFs | Yes (CFDs) | Limited — verify at icmarkets.com | Check entity-specific instrument lists |
| Crypto CFDs | Yes (entity-dependent) | Yes (entity-dependent) — verify at icmarkets.com | Availability restricted in some jurisdictions |
| Bonds | Yes | Yes — verify at icmarkets.com | Government bond CFDs |
HFM's mobile application page confirms trading across forex, stocks, commodities, bonds, ETFs, and indices. For the UK entity, InfinityX covers forex, metals, indices, cryptocurrencies, and energies; Cent covers forex and gold; Zero, Pro, and Premium have access to all available instruments (subject to entity restrictions). Source: hfmarkets.co.uk/en/trading-accounts.
Important: Both brokers offer stock CFDs, not real shares. CFD positions carry overnight financing costs and do not confer shareholder rights or dividends.
Leverage, Margin, and Position Rules
| Regulatory Environment | HFM Maximum Leverage | IC Markets Maximum Leverage |
|---|---|---|
| CySEC / FCA (EU/UK retail) | 1:30 on major FX (ESMA-style regulatory cap) | 1:30 on major FX — verify at icmarkets.com |
| FSA Seychelles (offshore) | Up to 1:2000 (UK entity; verify other entities at hfm.com) ³ | Per IC Markets published information — verify at icmarkets.com |
ESMA-style 1:30 retail leverage cap on major forex is a regulatory requirement for CySEC and FCA retail clients — not broker discretion.
HFM's InfinityX account offers what HFM describes as "unlimited" leverage with a 0% stop-out level — meaning positions are not automatically closed until the account balance reaches zero. This requires a $500 minimum deposit and carries a 20% margin call level. This is a high-risk configuration suited only to experienced traders with strict personal risk management. Source: hfmarkets.co.uk/en/trading-accounts.
HFM margin closeout levels (UK entity):
- Most accounts: 50% margin call, 20% stop-out
- InfinityX: 20% margin call, 0% stop-out
Both brokers provide negative balance protection on their regulated entities, ensuring retail clients cannot lose more than their deposited funds. Source (HFM): hfm.com/za/en/about/security-of-funds.
Getting Money In and Out
| Feature | HFM | IC Markets |
|---|---|---|
| Bank Wire | Yes | Yes — verify at icmarkets.com |
| Credit/Debit Card | Yes | Yes — verify at icmarkets.com |
| E-wallets (Skrill, Neteller) | Yes | Yes — verify at icmarkets.com |
| Crypto Deposits | Yes (entity-dependent) | Yes (entity-dependent) — verify at icmarkets.com |
| Withdrawal Processing | Internal processing available 24/7 ⁹ | Typically within 1 business day — verify at icmarkets.com |
| Base Currencies | USD, EUR, NGN, JPY, THB, IDR, GHS (entity-dependent) ³ | Multiple currencies — verify current list at icmarkets.com |
⁹ Source: hfm.com/za/en/about/security-of-funds.
HFM's security of funds page describes its withdrawal feature as available 24/7. This refers to internal processing — actual settlement time depends on the payment method and receiving institution. HFM maintains segregated client accounts, negative balance protection, and an insurance program of up to €5 million as an additional layer of protection.
IC Markets offers a range of base currencies. If your home currency is not USD or EUR, confirm the available base currencies at icmarkets.com to assess potential conversion costs.
Copy Trading and Social Features
HFM operates a proprietary copy trading system built directly into the HFM App and accessible via MT4/MT5. You can browse strategy providers, review performance history, allocate capital, and manage copy relationships within the same interface used for manual trading. PAMM (Percentage Allocation Management Module) accounts are also available through the HFM App.
IC Markets relies on cTrader's built-in copy module for its cTrader users, and on third-party signal services such as MQL5 Signals for MetaTrader users. These are not integrated into the IC Markets client area. Verify current copy trading options at icmarkets.com.
Bottom line: HFM provides a self-contained copy trading ecosystem requiring no external setup. IC Markets' approach gives platform-native flexibility for experienced traders but lacks a unified in-house system.
Which Broker Fits Which Trader
| Trader Profile | Better Fit | Key Reason |
|---|---|---|
| Beginner with small capital | HFM | $0 minimum deposit on Premium, Zero, and Cent accounts ³; intuitive mobile app with integrated features |
| Cost-focused active trader | Compare directly | Per-lot commission rates for both brokers should be verified at hfm.com and icmarkets.com before deciding — the difference, if any, compounds with volume |
| Scalper / high-frequency | IC Markets (per published information) | cTrader with DOM and Level II pricing; infrastructure favored by algo traders |
| Multi-asset diversified trader | HFM | Asset classes include forex, stocks, commodities, bonds, ETFs, and indices with a single-platform workflow ⁴ |
| Copy trading follower | HFM | Proprietary in-app copy trading and PAMM — no third-party configuration required ⁴ |
| Swing / position trader | Either | Check swap rates on specific instruments; IC Markets' wider base currency selection may reduce FX conversion costs |
Who should avoid HFM:
- Aggressive scalpers who need cTrader's DOM and Level II pricing
- Traders who require direct TradingView execution integration
- Those whose strategy depends on the lowest possible latency (fill-rate and slippage data are not published)
Who should avoid IC Markets (per publicly available IC Markets information):
- Traders who want a proprietary mobile app with integrated deposits, copy trading, and PAMM
- Those seeking a built-in copy trading ecosystem without third-party setup
- Beginners who prefer a $0 minimum deposit entry point
To compare HFM with IC Markets directly, visit icmarkets.com to verify current account conditions before making a decision.
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FAQ: Questions Traders Ask Before Switching
Is HFM or IC Markets cheaper overall? Both offer commission-based accounts with spreads from 0 pips. The specific per-lot commission rates are not confirmed in this evidence set — verify current rates directly at hfm.com and icmarkets.com. Demo-test both during your typical trading hours before committing capital.
Which broker is safer? Both are regulated by recognized authorities. HFM holds a confirmed CySEC license (183/12) and FSA Seychelles registration (22747 IBC 2015). Additional HFM entities covering the UK, South Africa, Dubai, and Kenya are referenced on hfm.com — verify current details there. IC Markets holds regulation from ASIC and CySEC — verify current license details at icmarkets.com. Your protection level depends on which entity you are onboarded under.
Which is better for beginners? HFM offers $0 minimum deposit on several account types, including Premium, Zero, and Cent (UK entity). IC Markets' minimum deposit terms should be verified at icmarkets.com. Beginners often find HFM's onboarding more accessible.
Can I scalp with either broker? Both allow scalping on standard and raw/zero account types. IC Markets is widely regarded as popular among scalpers for its cTrader platform. Neither broker publishes standardized execution speed or slippage data.
Do both brokers offer Islamic (swap-free) accounts? Both offer swap-free accounts for eligible clients. At HFM, swap-free applies to specific instruments subject to terms and conditions. Availability depends on jurisdiction and entity. Verify eligibility with each broker directly.
Do HFM or IC Markets accept U.S. citizens? No. HFM does not offer services to U.S. citizens or residents. Source: hfm.com/int/en/calculators/swaps-calculator. IC Markets also does not accept U.S. clients — verify at icmarkets.com.
Does either broker offer real stocks? No. Both brokers offer stock CFDs — derivative contracts that track share prices without conferring ownership, shareholder rights, or dividends.
What are the inactivity fees? Both brokers charge inactivity fees for dormant accounts. The trigger period and monthly charge vary by broker and may differ between entities. Verify the current inactivity policy in your specific client agreement before opening an account.
Does HFM offer cTrader? No. HFM supports MT4, MT5, HFM WebTrader, and the HFM App. If cTrader is essential to your workflow, IC Markets is the better fit.
Which broker has more instruments? IC Markets reportedly publishes a larger total instrument count, driven primarily by its stock CFD catalog. HFM covers forex, metals, indices, cryptocurrencies, energies, bonds, and ETFs. For traders focused on forex, indices, and commodities, both brokers cover the core universe. Verify current instrument lists at each broker directly.
Risk Warning
Risk warning: CFDs and leveraged forex products are complex instruments and carry a high risk of losing money rapidly due to leverage. Consider whether you understand how these products work and whether you can afford to take the high risk of losing your capital. Check the entity, terms and protections that apply in your jurisdiction before trading.
Still weighing your options? Use the strategy-fit table above to match your profile to the broker that aligns with your priorities — then test your shortlisted broker on a demo account before funding live.
Risk warning: CFDs and leveraged forex products are complex instruments and carry a high risk of losing money rapidly due to leverage. Retail investor accounts lose money when trading CFDs with most providers; the exact percentage varies by HFM entity and account type. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Check the entity, terms and investor protections that apply in your jurisdiction before opening an account or trading.
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