I'd opt to use the iostream
because of its platform independence. True, you may be targeting Windows only, but it's never a bad move to use platform-independent libraries. If you're building a big project, you never know what that next phase will entail.
I'm not sure the code above is the best (or correct) way to check for file existence. Try this:
ifstream f;
f.open(str);
if (f.is_open()) {
// read file
}