Alison Heyerdahl
Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

Learn more about Alison Heyerdahl
Author
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

HFM vs. Pepperstone

In the fast-paced world of forex trading, choosing the right broker is crucial. Pepperstone and HFM are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.

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Brokers Comparison
Our Score
4.53
/ 5
4.61
/ 5
Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Assets Available
Education & Research
Customer Service
Beginner Friendly
Analysis Research
Min. Deposit
USD 0
USD 0

Regulations

Regulation
Cyprus Securities and Exchange CommissionDubai Financial Services AuthorityFinancial Conduct AuthorityFinancial Services Commission
Financial Sector Conduct AuthorityThe Seychelles Financial Services Authority
Australian Securities & Investment CommissionBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets AuthorityCyprus Securities and Exchange Commission
Financial Conduct Authority
Trading Desk Type
STP
NDD
Trading Instruments
Bonds, Commodities, Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals, Stock DMAs
Commodities, Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals

Conditions

Forex Pairs
53
90
Crypto Pairs
40
30
Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited base currencies
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
% Lose with this broker
72.90%
78%
Leverage
1000:1
400:1
Spread
0 pips
0 pips
Hedging
Yes
Yes
Scalping
Yes
Yes
Account Types
Cent, Hf Copy Trading, HFCopy, HFM Copy Trading, Islamic, Premium, Pro, Pro Plus, Pro Plus, Zero
cTrader Razor, MT4 Razor, MT5 Razor, Standard, Swap-free
Islamic Account
Yes
Yes
Trading Platforms
MT4, MT5, HFM Trading App
cTrader, MT4, MT5, Pepperstone Platform, TradingView
Funding Methods
Bank Transfer, Mastercard, Skrill, Visa
Bank Transfer, BPay, Mastercard, Neteller, Paypal, POLi, Skrill, Unionpay, Visa
Trading Commissions
6 USD / lot - Zero Account
6 USD / lot
Fusion Markets Fusion Markets
HFM
Pepperstone
Trust Rating
4.5
5
Trading Conditions
4.5
4.5
Trading Platforms
4.5
5
Deposit & Withdrawal
4.5
4
Assets Available
4.5
4.5
Education & Research
5
4.5
Customer Service
4.5
4.5
Beginner Friendly
4
3
Analysis Research
5
5
Overall Rating
4.53
/ 5
4.61
/ 5

How Do Pepperstone and HFM Compare?

The radar chart above illustrates the comparison between Pepperstone and HFM across several key metrics, with the highest possible score being 100 in each category.

Helping You Choose the Right Broker

At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Pepperstone and HFM, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.

Trust and Regulation

Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses.  We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.

In our comparison:

  • Pepperstone holds four Tier 1 and no Tier 2 licences.
  • HFM holds two Tier 1 and one Tier 2 licences.

Based on these findings, Pepperstone earned a higher trust rating than HFM.

Is Pepperstone financially regulated?

Yes Pepperstone was founded in 2010 and is regulated by ASIC, BaFin, CMA, CySEC and FCA.

Is HFM financially regulated?

Yes HFM was founded in 2010 and is regulated by CySEC, DFSA, FCA, FSC, FSCA and FSA-Seychelles.

Trading Costs Comparison

When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.

We found that HFM and Pepperstone have the same trading costs.

Top Overall Rating Bokers

Trading Platforms Offered

Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.

  • Pepperstone supports cTrader, MT4, MT5, Pepperstone Platform and TradingView
  • HFM supports MT4, MT5 and HFM Trading App

Copy Trading Availability

Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both HFM and Pepperstone offer copy trading.

Range of Trading Instruments

A broader range of CFD instruments provides more trading opportunities. Pepperstone offers a greater variety of instruments compared to HFM:

  • Pepperstone: 90 Forex pairs.
  • HFM: 53 Forex pairs.

Cryptocurrency Trading

For those interested in trading cryptocurrencies, HFM offers 40 cryptocurrencies, while Pepperstone offers 30 cryptocurrencies. Therefore, HFM is the better choice for cryptocurrency trading.

Deposit and Withdrawal Processes

Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that neither HFM nor Pepperstone charges a withdrawal fee. Overall, HFM has better deposit and withdrawal processes than Pepperstone. 

Educational Support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

HFM has better educational support than Pepperstone. Both HFM and Pepperstone offer educational support for more experienced traders.

Market Analysis Materials

Access to frequent and high-quality market research and analysis is crucial.

We found that Pepperstone offers better research analysis than HFM and that both HFM and Pepperstone offer frequent webinars.

Overall Verdict

  • Pepperstone:

    One of our highest rated brokers, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we've seen, averaging 0.77 pips (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads averaging at just 0.17 pips on the EUR/USD. Neither account has a required minimum deposit.

    Despite the low costs, we are disappointed with Pepperstone's complicated commission structure and lack of regulation. But more experienced traders will appreciate Pepperstone’s trading platform options, including MT4, MT5, and cTrader, which integrates seamlessly with the TradingView tool. All are available on desktop and mobile devices. Pepperstone’s education section is not the most extensive we’ve seen, but it is competent and well-structured, making it a good place to start for beginner traders. 

  • HFM:

    HFM (formerly known as HotForex) is a well-known international broker.

    It offers four standard accounts and one specialised copy trading account. Three of its four standard accounts have no minimum deposit requirements and have extremely competitive trading fees. All accounts are available as Islamic accounts. We were also pleased to find that HFM has recently reintroduced cryptocurrency trading, no doubt because of the popularity of the asset. This is alongside an excellent range of trading instruments, including 950 international stocks.

    HFM supports the MetaTrader 4 and MetaTrader 5 platforms in addition to its own mobile HF App, which allows clients to trade from charts and make deposits and withdrawals. It also has several excellent trading tools to assist traders further. Unfortunately, access to tools such as Autochartist, which other brokers offer as a free service, requires an account balance of 100 USD.

Overall Ratings

  • Pepperstone: 4.61
  • HFM: 4.53

For more detailed reviews, please read our comprehensive assessments of Pepperstone and HFM.

Fusion Markets
AvaTrade
ASIC, FSA-Seychelles
Regulators
ASIC, CBI
30:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0 pips
Min. Spread
0.9 pips
AUD 0
Min. Deposit
USD 100
Exness
XM
B.V.I FSC, CMA
Regulators
ASIC, CySEC
Unlimited:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.1 pips
Min. Spread
0.6 pips
USD 3
Min. Deposit
USD 5
Pepperstone
XM
ASIC, BaFin
Regulators
ASIC, CySEC
400:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0 pips
Min. Spread
0.6 pips
USD 0
Min. Deposit
USD 5
IC Markets
FxPro
ASIC, CySEC
Regulators
CySEC, DFSA
500:1
Leverage
200:1
MT4, MT5
Platforms
MT4, MT5
0.1 pips
Min. Spread
0.4 pips
USD 200
Min. Deposit
USD 100
NAGA
Fibo Group
BaFin, CySEC
Regulators
B.V.I FSC, BaFin
1000:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.7 pips
Min. Spread
0.2 pips
USD 10
Min. Deposit
USD 0
AvaTrade
Pepperstone
ASIC, CBI
Regulators
ASIC, BaFin
400:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0.9 pips
Min. Spread
0 pips
USD 100
Min. Deposit
USD 0
XM
HFM
ASIC, CySEC
Regulators
CySEC, DFSA
1000:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.6 pips
Min. Spread
0.0 pips
USD 5
Min. Deposit
USD 0
HFM
IC Markets
CySEC, DFSA
Regulators
ASIC, CySEC
1000:1
Leverage
500:1
MT4, MT5
Platforms
MT4, MT5
0.0 pips
Min. Spread
0.1 pips
USD 0
Min. Deposit
USD 200
FBS
Pepperstone
ASIC, CySEC
Regulators
ASIC, BaFin
3000:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0.7 pips
Min. Spread
0 pips
USD 5
Min. Deposit
USD 0
Tickmill
Pepperstone
CySEC, FCA
Regulators
ASIC, BaFin
500:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0.0 pips
Min. Spread
0 pips
USD 100
Min. Deposit
USD 0
Unbiased Expertise

Independent, in-depth reviews and comparisons of all well-regulated Forex brokers, empowering you to make informed choices.

Educational Resources

Comprehensive guides for all levels, from the basics of Forex to advanced strategies tailored for your experience.

Transparent Information

A focus on facts, accuracy, and up-to-date data to give you the insights you need to succeed in your Forex journey.

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Best Brokers Uganda 2025

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Countries Regulated
Minimum Spread EUR/USD
Minimum Deposit
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
Broker Score
Broker Website
Select and Compare
ASIC Regulated Forex BrokersThe Seychelles Financial Services AuthorityVanuatu
0 pips
AUD 0
USD 4.50
4.41
/ 5
British Virgin Islands Financial Services CommissionCapital Markets AuthorityFinancial Services CommissionFSCA Regulated Forex Brokers
The Seychelles Financial Services Authority
0.10 pips
USD 3
USD 7
4.32
/ 5
ASIC Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets AuthorityCySEC Regulated Brokers
FCA Regulated Brokers
0 pips
USD 0
USD 10
4.61
/ 5
ASIC Regulated Forex BrokersCySEC Regulated BrokersSecurities Commission of the BahamasThe Seychelles Financial Services Authority
0.10 pips
USD 200
USD 8
4.46
/ 5
Bundesanstalt für FinanzdienstleistungsaufsichtCySEC Regulated Brokers
0.70 pips
USD 10
USD 17
4.14
/ 5
ASIC Regulated Forex BrokersCentral Bank of IrelandCySEC Regulated BrokersFinancial Regulatory Services Authority
FSCA Regulated Forex Brokers
0.90 pips
USD 100
USD 9
4.59
/ 5
ASIC Regulated Forex BrokersCySEC Regulated BrokersInternational Financial Services Commission
0.60 pips
USD 5
USD 6
4.45
/ 5
CySEC Regulated BrokersDubai Financial Services AuthorityFCA Regulated BrokersFinancial Services Commission
FSCA Regulated Forex BrokersThe Seychelles Financial Services Authority
0 pips
USD 0
USD 10
4.53
/ 5
ASIC Regulated Forex BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersInternational Financial Services Commission
0.70 pips
USD 5
USD 7
4.33
/ 5
CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersLabuan Financial Services Authority
The Seychelles Financial Services Authority
0 pips
USD 100
USD 6
4.58
/ 5
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Let's Talk Forex with Alison & Chris


Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.

The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.