City Index vs HFM 2026: Which Broker is Better?

Regulation & Safety

City Index is a well-established broker with a strong regulatory framework. It is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). Being part of the StoneX Group, which is NASDAQ-listed, adds an additional layer of financial stability and accountability. City Index offers fund protection through segregated client accounts, ensuring the safety of client funds.

HFM, headquartered in Limassol, Cyprus, is regulated by the FCA, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa. This multi-jurisdictional regulation provides a good level of safety and security for traders. HFM also uses segregated accounts to protect client funds and is known for its transparency in operations.

Fees & Spreads

City Index offers competitive spreads starting from 0.5 pips with no commission on trades. This makes it an attractive choice for traders looking to minimise costs. The broker does not require a minimum deposit, which lowers the barrier to entry for new traders. However, traders should be aware of an inactivity fee, which may apply if accounts remain dormant for a prolonged period.

HFM provides spreads starting from 0 pips, but this is typically available on accounts with a $3 commission per trade. The minimum deposit is just $5, making it accessible for traders with limited capital. However, standard accounts may experience wider spreads. Like City Index, HFM also charges an inactivity fee. The availability of high leverage up to 1:2000 can increase potential profits but also heightens risk, particularly for inexperienced traders.

Trading Platforms

City Index offers a proprietary web-based platform, a mobile app, and the popular MetaTrader 4 (MT4). The proprietary platforms are praised for their comprehensive research tools powered by Refinitiv, though they may feel less modern compared to newer competitors. HFM also provides MT4, along with MetaTrader 5 (MT5) and a proprietary mobile platform, catering to a wide range of trading preferences. MT5 offers enhanced features over MT4, making it suitable for advanced trading strategies.

Who Should Choose City Index?

• Traders looking for a broker with a long-standing reputation and stability.
• Investors interested in a wide range of markets, including over 13,500 CFDs.
• Traders who appreciate robust research tools and market analysis from Refinitiv.
• Clients who prefer not to commit to an initial deposit.

Who Should Choose HFM?

• Traders seeking high leverage opportunities up to 1:2000.
• Investors looking for low entry barriers with a minimum deposit of just $5.
• Clients interested in trading cryptocurrencies in addition to traditional markets.
• Traders who appreciate the flexibility of micro accounts and various account types.

Our Verdict

For beginners, City Index is preferable due to its strong regulatory standing and extensive market offerings. Professional traders may find HFM appealing for its low initial deposit and high leverage options. On fees, City Index edges out with no commissions and competitive spreads.