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<p>Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise 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.</p>
In the fast-paced world of forex trading, choosing the right broker is crucial. HFM and Infinox 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.
The radar chart above illustrates the comparison between HFM and Infinox across several key metrics, with the highest possible score being 100 in each category.
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 HFM and Infinox, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
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:
Based on these findings, HFM earned a higher trust rating than Infinox.
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 Infinox has overall lower trading costs than HFM.
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.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both HFM and Infinox offer copy trading.
A broader range of CFD instruments provides more trading opportunities. HFM offers a greater variety of instruments compared to Infinox:
For those interested in trading cryptocurrencies, Infinox offers 43 cryptocurrencies, while HFM offers 40 cryptocurrencies. Therefore, Infinox is the better choice for cryptocurrency trading.
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 Infinox charges a withdrawal fee and HFM does not. Overall, HFM has better deposit and withdrawal processes than Infinox.
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 Infinox. Both HFM and Infinox offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that HFM offers better research analysis than Infinox and that both HFM and Infinox offer frequent webinars.
HFM (formerly known as HotForex) is a well-known international broker with a strong presence in Uganda. It has local customer support, and also offers fast and free deposits and withdrawals from local banks.
HFM 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 MT4 and MT5 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.
With two low-cost accounts, a good range of Forex pairs, excellent market analysis materials, and good trading tools, INFINOX is a decent all-around broker.
INFINOX offers traders the choice of a commission-free STP account or a commission-based ECN account, both with a minimum deposit of 1 GBP (or currency equivalent). Trading costs range between 8 - 9 USD per lot traded, much lower than average for the industry. Trading is available on both the MT4 and MT5 platforms, and INFINOX also offers a great social trading app, especially good for beginners starting their trading careers.
However, we were disappointed at the lack of transparency regarding deposits and withdrawals and were also disappointed by non-responsive customer support and INFINOX’s scant FAQ section.
For more detailed reviews, please read our comprehensive assessments of HFM and Infinox.
Select another broker to another broker to compare features, fees, and platforms side by side.
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.
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