IFX Brokers vs. HF Markets

IFX Brokers is a leading South African Forex broker which has become very popular for its excellent customer support, tight spreads and award-winning platform offers.

HF Markets, formerly HotForex, is a well-known and reputable international Forex broker which has been in operation for over a decade, and also offers excellent trading platforms, a good range of accounts and swift deposits and withdrawals.

How do these two popular brokers compare with each other? In this comprehensive review we take a close look at the features and trading conditions offered by both IFX brokers and HF Markets to provide traders with the best options for their trading needs.

forex brokers with meta trader access

Overall Comparison

FEATURE

IFX Brokers

HF Markets

General comparison

4/5

4/5

Regulation

5/5

4/5

Spreads and fees

4/5

4/5

Trading Platforms

4/5

4/5

Trading Apps

4/5

5/5

Analytical Tools

4/5

4/5

Educational Resources

5/5

5/5

Trust Score

93

85

Best in class

x

 

Regulation Comparison

FEATURE

IFX Brokers

HF Markets

Trust score

93

85

Year Founded

2018

2010

Publically Traded

No

No

Licensed in South Africa

Yes

Yes

Assets Comparison

FEATURE

IFX Brokers

HF Markets

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

47

US Stock Trading

No

No

International Stock Trading

No

No

Cryptocurrency CFDs

Yes

Yes

Fees Comparison

FEATURE

IFX Brokers

HF Markets

Average Spread for EUR/USD

0.2 pips

1.2 pips

Commissions Charged

Yes

No

ECN Execution

Yes

Yes

Market Maker Execution

No

No

Deposit Options Comparison

FEATURE

IFX Brokers

HF Markets

Deposit fees

No

No

Bank wire

Yes

Yes

MasterCard

Yes

Yes

PayPal

No

No

Skrill

Yes

Yes

Minimum Deposit

$100

$5

Trading Platforms Comparison

FEATURE

IFX Brokers

HF Markets

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

Yes

MetaTrader 4

Yes

Yes

MetaTrader 5

Yes

Yes

cTrader

No

No

DupliTrade

No

No

ZuluTrade

No

No

Proprietary Platform

No

No

Analytical Tools Comparison

FEATURE

IFX Brokers

HF Markets

Economic Calendar

Yes

Yes

Social Sentiment

Yes

Yes

Trading Central

No

No

AutoChartist

No

Yes

Forex News Sources

Yes

Yes

Daily Market Commentary

Yes

Yes

Educational Resources Comparison

FEATURE

IFX Brokers

HF Markets

Offers education

Yes

Yes

Webinars

Yes

Yes

Beginner training videos

Yes

Yes

Advanced training videos

Yes

Yes

Glossary

No

No

Majors Offered

FEATURE

IFX Brokers

HF Markets

GBP/USD

Yes

Yes

USD/JPY

Yes

Yes

EUR/USD

Yes

Yes

USD/CHF

Yes

Yes

USD/CAD

Yes

Yes

NZD/USD

Yes

Yes

AUD/USD

Yes

Yes

IFX Brokers vs. HF Markets

We spent many hours thoroughly examining the best-in-class Forex brokers for 2022. Here, we take a closer look at IFX Brokers vs. HF Markets.

 

Which offers better pricing – IFX Brokers or HF Markets?

Both IFX Brokers and HF Markets provide excellent pricing, with IFX Markets coming out well ahead on their average spread for the EUR/USD. As such, HF Markets offers a spread of 1.2 pips, while IFX Brokers offers a very tight spread of 0.2 pips for the same currency pair.

Both brokers offer deposit fees that are free of any charges, as well as very low non-trading fees all-round. Both IFX Markets and HF Markets charge commission – though there are commission-free accounts available from either broker, and these accounts are offered in a true ECN trading environment.

 

Which broker offers more security when trading Forex and CFDs?

Both IFX Brokers provide excellent trading security as they are well-regulated by top-tier organisations. HF Markets is regulated by CySEC in the EU, and by the FSCA in South Africa.

IFX Brokers is regulated by the FSCA in South Africa, and while the broker is not regulated outside of South Africa, IFX Brokers gains higher in our trust score against HF Markets for its solid reputation as a purely South African-focused regional Forex broker.

 

Which broker offers the superior trading platform?

IFX Brokers and HF Markets are neck-and-neck in the race towards the best platform offering. Both brokers offer the full MetaTrader suite from MetaQuotes, with integrated social trading capabilities and award-winning trading features and tools.

Neither HF Markets nor IFX Brokers offers additional popular platforms and social trading software such as ZuluTrade or DupliTrade, which many other brokers in the industry do offer at this stage.

 

Do these brokers both offer MetaTrader?

Yes, Both HF Markets and IFX Brokers offer the full MetaTrader suite from MetaQuotes, consisting of MetaTrader 4 and MetaTrader 5. These platforms are available for download on either desktop or mobile app, and a web version is also available from both brokers.

 

How many Forex pairs can I expect from these brokers?

IFX brokers exceeds HF Markets in terms of its Forex pair offering. IFX Brokers provides a great selection of 60 currency pairs, while HF Markets offers 47 currency pairs. However, both offer the same selection of major currency pairs.

 

Is it safe to trade with IFX Brokers?

Yes, it is safe for traders in South Africa to sign up with IFX Brokers, which is fully regulated by the Financial Sector Conduct Authority (FSCA). This is the primary regulator of the financial markets in South Africa.

Brokers which are regulated by the FSCA are required to store all traders’ funds in segregated accounts, and disgruntled clients have recourse to challenge poor service via the Ombudsman, resulting in a safe, transparent and secure trading environment with IFX Brokers.

 

Is it safe to trade with HF Markets?

Yes, HF Markets is well-regulated both offshore and in South Africa. HF Markets is regulated by the Cypress Securities and Exchange Commission (CySEC) which is one of the leading regulators of Forex brokers in the European Union.

Furthermore, HF Markets is also regulated in South Africa by the FSCA.

 

Who is IFX Brokers?

IFX Brokers is an online trading broker that has its headquarters in South Africa. The company combines traditional business ethics with cutting-edge technological innovation.

The broker offers private and institutional clients a one-stop trading and investing experience by providing them with the highly advanced MetaTrader 4 and MetaTrader 5 platforms for online trading of more than 200 instruments spanning six asset classes.

This makes the trading and investing process more convenient for the clients. IFX account analysts are able to devote themselves to clients for the full 18 hours of each day thanks to cutting-edge technologies and procedures, which also include longer hours of live client support.

Applicants can select from one of five different live Forex trading accounts provided by IFX Brokers. This provides the options of a Standard Account, Premium Account, VIP Account, Islamic Account, and Cent Account.

An IFX Brokers Demo account is offered in addition to the 5 Live Trading account types that are currently accessible.

Both MetaTrader trading platforms are made available to traders by IFX Brokers. Both MetaTrader 4 and MetaTrader 5 are accessible through all accounts, with the exception of the Demo and Cent versions.

Traders now have access to improved charting features, highly advanced management tools, thorough analysis, different chart settings, and a user interface that is available in multiple languages thanks to IFX MetaTrader 4.

When using IFX Brokers, the procedure of making a deposit is uncomplicated and uncomplicated, and the broker will cover any and all transaction expenses.

A trader who wants to make a deposit need only sign in to their protected client area, choose their preferred payment method, and then continue with the process.

IFX Brokers provide their customers with the option of making quick withdrawals. The safe client area provided by myIFXBrokers is the one that processes withdrawal requests.

In order to make a withdrawal, the customer must first join in to the protected client area provided by myIFXBrokers and provide information about their bank account that has been verified.

After verification has been carried out effectively, the procedure can then be finished. In a nutshell, IFX Brokers can be summed up as a reliable South African brokerage that provides traders with a comprehensive range of trading opportunities.

 

Who is HF Markets?

Although HF Markets, formerly Hotforex, is a well-known international broker, there is no denying that it places an exceptional emphasis on the South African market.

In contrast to many other overseas brokers, it provides South African Rand trading accounts in addition to having local FSCA regulation and local customer assistance.

Additionally, it enables users to make deposits and withdrawals in South African Rands from a variety of local institutions, such as FNB, ABSA, Nedbank, and Standard Bank, amongst others, in a quick and hassle-free manner at no additional cost.

The Micro Account from HF Markets stands out among the company’s three basic accounts and two specialized copy trading accounts because of its low minimum deposit requirement of only 70 South African Rand and its competitive trading fees.

In addition to its own mobile HF App, which enables customers to trade directly from charts as well as make deposits and withdrawals, HF Markets supports both of the MetaTrader 4 and MetaTrader 5 trading platforms.

Additionally, HF Markets offers a variety of high-quality trading tools, which can be of great use to traders.

The total trading expenses are somewhat higher than average across all five accounts, despite the fact that the accounts themselves offer distinct benefits in terms of trading techniques and minimum deposits. Despite the variance, the overall trading costs are slightly higher than normal.

The processing time for withdrawals made using credit and debit cards might take up to ten days, which is excruciatingly sluggish in comparison to the processing times offered by other brokers. HF Markets does not charge any fees for deposits or withdrawals.

HF Markets, which is regulated by the FSCA, makes certain that all of the anti-money-laundering rules and regulations are adhered to at all times.

Beginner traders at HF Markets can count on receiving good help because the company’s customer service has won multiple awards and the company’s business model is centred on the needs of its customers.