Trading CFDs carries a high risk of losing money rapidly. Confirm this broker's current loss-rate disclosure and regulated entity before opening an account. Read the full risk disclosure.
HFM vs Pepperstone
A field-by-field comparison based on the current BrokaBoy catalogue. Check current pricing and the regulated entity on each broker's website before deciding.
Last updated: 4 October 2026 · Reviewed by BrokaBoy Research Team
| Field | HFM | Pepperstone |
|---|---|---|
| BrokaBoy score | 9.7/10 | 9.2/10 |
| Trustpilot rating | Trustpilot 4.3 (2,948 reviews) | Trustpilot 4.2 (3,580 reviews) |
| Listed minimum deposit | $0 | $10 |
| Advertised spread from | 0.0 pips | 0.0 pips |
| Advertised maximum leverage | 1:2000 (entity dependent) | 1:400 |
| Regulators | FCA, CySEC, DFSA, FSCA, CMA, FSA | FCA, ASIC, CySEC, DFSA, SCB, BaFin, CMA |
| Platforms | MetaTrader 4, MetaTrader 5, HFM App, HFcopy | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Instruments | Forex, Commodities, Indices, Stocks, Bonds, Crypto | Forex, CFDs, Indices, Commodities, Crypto |
| Account types | Cent, Micro, Premium, Zero Spread, Auto | Standard, Razor |
| Founded | 2010 | 2010 |
| Spread type | Variable; raw pricing on the Zero Spread account | Razor account quotes raw spreads from 0.1 pips; Standard account is commission-free with a markup. |
| Commission | Around $6 per round-turn lot on Zero Spread; none on Micro and Premium | Around $3.50 per lot per side on Razor; zero on Standard. |
| Overnight / swap | Swaps charged on positions held overnight; Islamic swap-free accounts available on request | Overnight financing charged or credited daily, with a triple debit mid-week. |
| Withdrawals | HFM covers most withdrawal fees; third-party payment charges may apply | Free withdrawals to most cards and e-wallets; international wires may incur a bank fee. |
Key differences
- HFM has a lower listed minimum deposit ($0 vs $10).
- HFM has the higher BrokaBoy score (9.7/10 vs 9.2/10).
- Both brokers hold licences with FCA, CySEC, DFSA, CMA.
- Only HFM lists HFM App, HFcopy among its platforms.
- Only Pepperstone lists cTrader, TradingView among its platforms.
- Only HFM lists Stocks, Bonds among its instruments.
- Only Pepperstone lists CFDs among its instruments.
Which should you choose?
- Choose HFM if a lower listed opening deposit is your priority.
- Choose HFM if access to Stocks is essential, and confirm it is available under your entity.
- Choose Pepperstone if access to CFDs is essential, and confirm it is available under your entity.
- Choose the broker whose regulated entity covers your country and provides the protections you need; confirm this on the regulator's register.
Frequently asked questions
Which has the lower minimum deposit, HFM or Pepperstone?+
HFM has the lower listed minimum deposit ($0 vs $10). Confirm current terms with each broker.
Are HFM and Pepperstone regulated by the same authorities?+
They share FCA, CySEC, DFSA, CMA. HFM lists FCA, CySEC, DFSA, FSCA, CMA, FSA; Pepperstone lists FCA, ASIC, CySEC, DFSA, SCB, BaFin, CMA in our catalogue.
Which has the higher BrokaBoy score?+
HFM scores 9.7/10 against 9.2/10. The score is calculated from advertised catalogue data and excludes Trustpilot ratings.
Do HFM and Pepperstone support the same platforms?+
Both list MetaTrader 4, MetaTrader 5.
