HFM
Multi-entity broker (FCA/CySEC/FSCA/FSA) — $0 min deposit on 4 of 5 tiers, up to 1:2000 leverage.
CFD trading involves risk. 75% of retail investor accounts lose money when trading CFDs with this provider — this figure is set by the broker and updated periodically. This is an affiliate review.
HNL Growth Score
Based on independent research
✓ Highly Trusted
Our Rating Breakdown
Updated August 2026 · Independent analysis
Scores are based on independent research, live-account testing, regulatory analysis, and 12,000+ verified Trustpilot reviews — updated quarterly.
Pros & Cons
What We Like
- True $0 minimum deposit on 3 of 5 account types (Cent, Zero, Premium)
- FCA-regulated entity available for UK clients (Tier 1)
- Wide leverage range — up to 1:2000 offshore, unlimited on InfinityX
- 5 account tiers to match different trading styles and budgets
- MT4, MT5 and a proprietary mobile app supported group-wide
- Operating since 2010 (as HotForex, rebranded to HFM in 2022) under multiple licensed entities
- Swap-free (Islamic) accounts available
- Copy trading supported
- Broad instrument range including crypto CFDs
Watch Out For
- No single unified regulator — protections vary sharply by entity
- CySEC (EU) entity currently accepts professional/eligible-counterparty clients only, not standard retail
- Most international clients are onboarded to the St. Vincent entity — a company registration, not a securities license, with no investor-compensation scheme
- Zero account commission rate is not published on the public account-comparison page — must be confirmed in the client area
- EUR 5 million group insurance figure is broker-published, not independently audited
- Not available to residents of the US, Canada, UAE, Türkiye and several other jurisdictions
What Is HFM?
HFM (formerly HotForex) is a multi-entity forex and CFD broker operating since 2010 under the HF Markets Group. Whether it is safe for you depends entirely on which legal entity onboards your account. Tier-1 regulated entities exist within the group (FCA, CySEC), but the CySEC-licensed EU entity currently accepts only professional and eligible-counterparty clients. Most international retail traders are onboarded to the St. Vincent-registered entity, which offers leverage up to 1:2000 (or unlimited on InfinityX) but carries minimal regulatory recourse. Five account types (Cent, Zero, Premium, Pro, InfinityX) cover a wide range of trading styles, with MT4, MT5 and a proprietary app supported group-wide.
Founded in 2010 and headquartered in United Kingdom / Cyprus / Seychelles / South Africa / St. Vincent & the Grenadines, HFM has grown into one of the most trusted multi-asset brokers globally, serving Millions (self-reported, unaudited) traders across 150+ countries. The broker holds regulatory licenses from FCA (United Kingdom), CySEC (Cyprus (EU)), FSCA (South Africa), FSA (Seychelles), SVG (St. Vincent & the Grenadines), achieving a Trust Score of 74/99 — placing it in the "Highly Trusted" category. Clients are further protected by Lloyd's of London indemnity insurance for up to $1M per claimant.
Regulation & Safety
Account Types & Fees
No deposit or withdrawal fees on any account. Swap-free (Islamic) accounts available in select regions.
Trading Conditions
Platforms & Tools
Deposits & Withdrawals
Community Reviews
Started on the Cent account to learn position sizing without much capital at risk, then moved to Zero for tighter spreads. Withdrawals via e-wallet came through in about 2 days. Wish the Zero commission rate was published upfront.
MT5 execution has been consistent for my swing strategy. Support confirmed my entity (SV) when I asked directly, which I appreciated after reading about the different regulators.
Being under the FCA entity gives me confidence, even with the 1:30 cap. Platform choice (MT4/MT5) is solid and the app is decent for monitoring positions on the go.
Frequently Asked Questions
Is HFM regulated and safe?
HFM operates under multiple separate regulatory licenses across the HF Markets Group — FCA (UK, 801701), CySEC (EU, 183/12), FSCA (South Africa, 46632), DFSA (Dubai), CMA (Kenya, 155) and FSA Seychelles (SD015) — not one unified global license. No single regulator supervises the entire group. Most international retail traders are onboarded to HF Markets (SV) Ltd, a St. Vincent & the Grenadines company registration rather than a securities regulator's license. Confirm your onboarding entity and its exact protections before funding.
What is the minimum deposit at HFM?
HFM lists a $0 minimum deposit on the Cent, Zero and Premium accounts under most entities — your actual first deposit is effectively set by your payment method's own minimum. The Pro account requires $100/€100, and InfinityX requires $500. Regulated entities (e.g. FCA UK) may apply different minimums and account availability.
Which trading platforms does HFM support?
HFM supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), plus a proprietary HFM mobile app for iOS and Android, and a web-based trader terminal. EAs and automated strategies are supported on MT4/MT5, subject to account-type terms.
What leverage does HFM offer?
Leverage depends on the entity that onboards you. Clients under the FCA-regulated UK entity are capped at 1:30 on major forex pairs — a regulatory requirement. Clients under offshore entities (e.g. HF Markets (SV) Ltd) may access leverage up to 1:2000 on Cent, Zero, Pro and Premium accounts, while the InfinityX account advertises unlimited leverage, subject to HFM's terms and conditions. Confirm which entity governs your account before assuming a leverage figure applies.
How much does it cost to trade on HFM's Zero account?
The Zero account quotes spreads from 0.0 pips on forex and charges a separate per-lot commission. HFM does not publish the exact commission rate on its public account-comparison page — confirm the current per-lot rate in your client area or via HFM support before calculating round-turn costs.
Does HFM offer negative balance protection and segregated funds?
HFM's security-of-funds page states that client money is held in segregated accounts and that negative balance protection resets a negative balance to zero. HFM also references a group insurance program covering up to EUR 5 million on some regional pages. These are broker-published statements — ask HFM directly to confirm in writing how they apply to your specific entity and account type.
Which HFM entity will hold my account?
It depends on your country of residence at signup. UK clients are onboarded to HF Markets (UK) Ltd (FCA 801701). South African clients may be onboarded to HF Markets SA (PTY) Ltd (FSCA 46632). Most other international clients are onboarded to HF Markets (SV) Ltd, registered in St. Vincent & the Grenadines (22747 IBC 2015) — a company registration, not a securities license. Confirm the exact entity name shown on your account agreement.
Is HFM the same as HotForex?
Yes. HF Markets Group traded under the consumer brand HotForex from 2010 until 2022, when the group rebranded all consumer-facing properties to HFM. The legal corporate structure did not change — only the public brand name did.
Our Final Verdict
HNL Growth editorial team — August 2026
Overall Rating
HFM is not one broker with one regulator — it is a group of separately licensed entities, and which one holds your account depends on where you live. FCA (UK) and CySEC (EU) clients get Tier-1 oversight, but the CySEC entity is closed to new retail clients. Most international clients are onboarded to HF Markets (SV) Ltd, a St. Vincent company registration rather than a securities license, where leverage runs up to 1:2000 and formal investor-compensation schemes do not apply. Trading costs are competitive across five account tiers, and platform choice (MT4/MT5/App) is solid. Confirm which entity will hold your account and what protections apply in writing before funding. As a Tier-1 regulated broker with FCA + CySEC oversight, a competitive Raw ECN account starting from just $0, full MT4, MT5, HFM App, Web Trader platform suite, and zero deposit or withdrawal fees, HFM stands out as one of the best-value forex and CFD brokers in 2026 — especially for active retail traders who need tight spreads and reliable execution.
HFM