HF Markets (HFM) Vs. City Index - Compare Trustworthiness, Capabilities, Fees and Legitimacy

HF Markets (HFM) is a global broker founded in 2010 under the brand name HotForex that specialises in CFDs trading on currencies, commodities, indices, stocks, ETFs, bonds and futures. Recently they added to their portfolio commission-free real stocks and ETFs.

City Index is a global broker founded in 1983 that holds 4 financial licenses and offers advanced trading platforms, mobile apps, diverse market research tools and an extensive range of markets.

• Low volume traders looking for a low minimum deposit, low trade size and competitive spreads
• High volume traders looking for a competitive commission-driven environment through their zero spread account
• Traders looking to copy or provide knowledge via their HFCopy account

• Intermediate and experienced traders looking for a great asset variety on CFDs
• Experienced traders looking to trade options over 17 asset classes
• Share and ETF traders looking for a comprehensive offering

• CySec (Cyprus)
• FCA (UK)
• DFSA (United Arab Emirates)
• FSCA (South Africa)
• FSA (Seychelles)
• FSA (St. Vincent and the Grenadines)
• CMA (Kenya)

• FCA (UK)
• ASIC (Australia)
• MAS (Singapore)
• ADGM (United Arab Emirates)

• Well-structured account offering with options for all types of traders
• Competitive commissions on their Zero Spread and PAMM accounts
• Copy trading via MT4 / 5 offered through their HF Copy account

• All assets are CFDs, there is no possibility to buy real stocks or ETFs
• Cryptocurrency offering is below most of its competitors (only 5)
• While easy to execute a trade, platform is difficult for a novice to navigate

• Platform offering is limited to MetaTrader 4 and 5
• Asset offering in CFDs is below industry standards with 1,200 CFDs
• Their proprietary mobile app does not offer trading capabilities

• All assets are CFDs, there is no possibility to buy real stocks or ETFs
• Cryptocurrency offering is below most of its competitors (only 5)
• While easy to execute a trade, platform is difficult for a novice to navigate

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• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Visa
• Mastercard
• Neteller
• Skrill
• Sofort
• FasaPay
• WebMoney
• BitPay
• PayRetailers
• PayRedeem
• Bank Transfer

• Visa
• Mastercard
• Maestro
• Electron
• PayPal
• Bank Transfer

US, CA, SY, IR.

US, CA, SY, IR.

Yes, $5 monthly after 6 months of inactivity.

12£ monthly after 1 year of inactivity.

Yes depending on account type:

• Micro accounts have no commissions.
• Premium accounts have no commissions
• Zero Spread accounts have a minimum commission that varies between $3 to $4 per lot traded
• PAMM (Premium) accounts have no commission
• PAMM (Premium Plus) accounts have a commission of $8 per lot round turn
• HFCopy accounts have no commissions

• Spread betting markets have no commission
• CFDs or FX trading has no commission as well (except equities: shares & ETFs)
• Equity commissions depend on the market’s location (eg: UK and Europe have a 0.08% of transaction value fee, US equities and Asian ones have different percentages as well)
• The minimum equity commission rates are $10, £10 or 10€.