HFM provides high-leverage trading across MetaTrader and its proprietary mobile platform with flexible account options.
Spreads from
1.4 pips
Commission
$3
Min deposit
$0
Established
2010
Regulated by
FCA · CySEC · FSCA (South Africa) · CMA (Kenya) · FSA Seychelles
Written byLaverlane Team·Updated12 Oct 2026
Researched with AI assistance and verified by our editors
Regulation
HFM operates under multiple global entities spanning top-tier licences and offshore jurisdictions.
HF Markets (UK) Ltd holds an FCA licence, whereas international clients contract with HF Markets (SV) Ltd, an International Business Company registered in St Vincent and the Grenadines that doesn't hold a financial services licence. Other group companies are licensed by CySEC in Cyprus, the FSA in Seychelles, the FSCA in South Africa and the CMA in Kenya. CySEC has previously fined HF Markets (Europe) Ltd €105,000 over breaches including outsourced client calls and how it presented risk.
International clients should note that global onboarding defaults to the offshore entity without statutory compensation. In June 2026, Thailand's Department of Special Investigation (DSI) also listed HFM among brokers covered by a special investigation into unauthorised forex trading; no charges against HFM had been reported as of October 2026.
Key facts
HFM provides access to forex, metals, energies, indices, stocks and crypto as CFDs.
Client-facing entity
HF Markets (SV) Ltd
Regulators
FCA, CySEC, FSCA (South Africa), CMA (Kenya), FSA Seychelles
Restricted countries
US, CA, AE, TR, SD, SY, IR, KP
Negative-balance protection
Yes
Minimum deposit
$0
Max leverage (UK/EU retail)
1:30
Max leverage (offshore entity)
1:2000
Typical EUR/USD spread
1.4 pips
Platforms
MT4, MT5, Proprietary
Account currencies
USD, EUR, THB, USC (Cent account)
Founded in 2010 and rebranded from HotForex to HFM in 2022, the group lists 53 forex pairs, 23 indices, 157 stock CFDs, 16 commodity CFDs and 74 crypto CFDs on its international site. Operations run through several regulated and offshore companies, with international clients served by HF Markets (SV) Ltd.
Best for
Pros & cons
Fund safety
Client funds are held in segregated accounts with highly rated financial institutions.
Client funds are held in segregated accounts, and HFM states that it carries $5 million of market insurance. The client agreement provides negative balance protection, resetting a negative balance to zero. However, international accounts under HF Markets (SV) Ltd carry no statutory compensation scheme, unlike the UK entity, which is covered by the Financial Services Compensation Scheme (FSCS).
Account terms
Client agreements include escalating dormant fees and broad profit-cancellation rights.
HFM accounts with no activity for six months become dormant and are charged $5 a month, rising to $10 after a year and $20 after two years. Clause 10.13 of the client agreement also lets HFM, at its sole and absolute discretion, cancel all profits made over the whole business relationship if it suspects prohibited conduct, which is why this category loses points.
Costs
Spreads vary between zero-commission floating pricing and tight raw commission structures.
HFM publishes a minimum EUR/USD spread of 1.4 pips on its commission-free Premium account and 0.6 pips on the Pro account, but no typical or average spread. The spread table below shows these published minimum spreads rather than typical spreads, so expect wider pricing in practice. The Zero account starts from 0.0 pips with a commission from $3 per lot per side, which suits high-volume traders.
| Instrument | Asset class | Typical spread | Unit |
|---|---|---|---|
| EUR/USD | Forex CFD | 1.4 | pips |
| GBP/USD | Forex CFD | 1.6 | pips |
| USD/JPY | Forex CFD | 1.8 | pips |
| US 100 (Nasdaq) | Index CFD | 1.2 | points |
| US 500 (S&P 500) | Index CFD | 0.4 | points |
| XAU/USD (Gold) | Commodity CFD | 0.32 | $ / oz |
| US Crude Oil | Commodity CFD | 0.06 | $ / bbl |
| BTC/USD | Crypto CFD | 39 | $ |
Spreads shown are typical, not guaranteed, and widen during volatile sessions or outside main market hours. Figures reflect the broker's standard retail account.
Markets
HFM offers 53 forex pairs plus indices, stocks, commodities and crypto as CFDs.
Forex CFD
53 pairs
Index CFD
23 indices
Commodity CFD
Metals, energies, softs
Single-Stock CFD
157 shares
Crypto CFD
Available ✓ · Weekend trading ✓
Real ownership: Stocks / ETFs
N/A for this broker, CFDs only
HFM's international site lists 53 forex pairs, 23 index CFDs, 157 stock CFDs, 16 commodity CFDs including metals, energies and soft commodities, and 74 crypto CFDs. Crypto CFDs trade 24/7 apart from a short Sunday break, which suits traders who want weekend access.
Platforms
You can trade on MT4, MT5 or HFM's own app, on desktop or mobile.
Every HFM account can trade on MetaTrader 4, MetaTrader 5, HFM WebTrader and the HFM mobile app. HFM doesn't offer TradingView, and we couldn't find a public platform status or uptime page, which is why this category loses a few points.
Execution
HFM fills your orders as a market maker and doesn't publish execution stats.
HFM acts as principal and market maker under clause 4.1 of its client agreement, which means it takes the other side of your trades. It also publishes an order execution policy. It doesn't publish execution statistics such as fill speed or slippage data, which is why this category loses points.
Leverage
Maximum leverage reaches up to 1:2000 for offshore accounts, while Tier-1 retail caps remain strictly enforced.
HFM's headline leverage of up to 1:2000 far exceeds Tier-1 regulatory caps of 1:30 for retail accounts. High leverage gives small accounts flexibility, but unmanaged exposure risks rapid liquidation, with a margin call at 50% and a stop-out at 20% margin level.
Account types
HFM's accounts run from a Cent account for small stakes up to a Pro account for more active traders.
| Account | Min deposit | Commission | Swap | Spread | Demo | Islamic |
|---|---|---|---|---|---|---|
| Premium | $0 | Spread-only | Swap-free on selected instruments | From 1.4 pips · Variable | Yes | Yes |
| Cent | $0 | Spread-only | Swap-free on selected instruments | From 1.4 pips · Variable | Yes | Yes |
| Zero | $0 | $3 per lot per side | Swap-free on selected instruments | From 0 pips · Variable | Yes | Yes |
| Pro | $100 | Spread-only | Swap-free on selected instruments | From 0.6 pips · Variable | Yes | Yes |
| Top-up Bonus | $0 | Spread-only | Variable overnight swap | From 1.4 pips · Variable | Yes | Not stated |
HFM's Premium, Cent, Zero and Top-up Bonus accounts have no minimum deposit, while the Pro account requires $100. The Cent account is denominated in US cents, and the Zero account trades from 0.0 pips with a commission.
Funding
Deposit and withdrawal options cover traditional bank wires, credit cards, and digital e-wallets.
Thai local bank deposits to HFM arrive instantly, while withdrawals to a local bank take up to 2 business days, Skrill withdrawals are instant and card or wire withdrawals take 2 to 10 business days. HFM charges no deposit or withdrawal fees, though intermediary banks may apply their own.
Support
Customer support runs 24/7 through live chat, email, the client area and local phone lines.
HFM's customer support operates 24/7 via live chat, email and the client area, with local phone lines in countries including Thailand. Online education portals host regular live market webinars.
Availability
HFM accepts traders from most countries, apart from the restricted list below.
Global client onboarding accepts most jurisdictions outside restricted zones like the US and Canada. International traders access high leverage easily, but UK and EU residents are routed to lower leverage entities. Which HFM company you sign with depends on where you live, and that decides the protections you get.
If HFM isn't licensed in your country, you'd be sending money to a firm your local regulator doesn't supervise. That usually means no local complaints route or compensation scheme if something goes wrong, so check your own regulator's register before you deposit.
Verdict
HFM stands out as an accessible retail broker, with no minimum deposit on most accounts, raw pricing on the Zero account and 24/7 support. Its regulation score is held back, however, because international clients contract with HF Markets (SV) Ltd in St Vincent and the Grenadines, outside the group's FCA and CySEC entities, without a compensation scheme and with leverage of up to 1:2000. Its client agreement also lets HFM cancel all profits if it suspects prohibited conduct, so read those terms carefully before funding an account.
HFM suits traders seeking flexible account types, high maximum leverage, and MT4 or MT5 platform compatibility.
High-volume day traders seeking Zero account raw pricing benefit most from HFM, while risk-averse traders requiring Tier-1 statutory compensation should explore fully regulated alternatives.
FAQ
HFM trading allows retail clients to trade CFDs on forex, metals, energies, indices, stocks and cryptocurrencies. Trades execute via MetaTrader 4, MetaTrader 5, HFM WebTrader and the HFM app. International retail clients contract with HF Markets (SV) Ltd in St Vincent and the Grenadines.
HFM has no minimum deposit on its Premium, Cent, Zero and Top-up Bonus accounts. The Pro account requires a $100 minimum deposit. The Cent account is denominated in US cents, which suits traders testing strategies with small amounts.
HFM is an online multi-asset broker founded in 2010 under the original brand name HotForex. It operates through several companies, some licensed by the FCA, CySEC, FSA Seychelles, FSCA and CMA, alongside an unlicensed St Vincent entity. The group offers retail traders leveraged CFD trading and a range of account types.
HFM serves international clients through HF Markets (SV) Ltd, based in Kingstown, St Vincent and the Grenadines. Other group companies are located in the UK, Cyprus, Seychelles, South Africa and Kenya. International accounts are processed through the St Vincent entity rather than the UK or EU companies.
Withdraw your remaining balance first, because accounts left inactive for six months with money in them become dormant and start incurring monthly fees. You can then ask HFM to close your account through live chat, the client area or email. Customer support is available 24/7.
HF Markets (UK) Ltd is regulated by the FCA (801701) and HF Markets (Europe) Ltd by CySEC (183/12), but international clients contract with HF Markets (SV) Ltd, which holds no financial services licence and offers no statutory compensation scheme. In June 2026, Thailand's DSI listed HFM among brokers covered by a special investigation into unauthorised forex trading. No charges against HFM had been reported as of October 2026, but Thai residents should check the Bank of Thailand's list of authorised providers before trading.
Alternatives
Eightcap offers CFDs on 850+ markets through TradingView, MetaTrader 4, MetaTrader 5 and TradeLocker, with a Raw account that starts from 0.0 pips. Clients outside the regulated regions contract with Eightcap Global Limited in The Bahamas, which carries no statutory compensation scheme.
Octa offers swap-free forex and CFD trading on OctaTrader, MetaTrader 4 and MetaTrader 5, with no trading commission and a $25 minimum deposit. Accounts on octabroker.com are with Versustrategy Inc, registered in Saint Lucia, and the legal documents page lists no financial regulator.
JustMarkets offers leverage of up to 1:3000, swap-free trading and MT4, MT5 and its own app, but international clients contract with an offshore Seychelles entity without a statutory compensation scheme.
FXCM offers forex and CFD trading on Trading Station, MetaTrader 4 (MT4) and TradingView. Accounts on the international website are with Stratos Global LLC, an offshore entity in St Vincent and the Grenadines that sits outside the group’s regulated companies.
ThinkMarkets offers ThinkTrader, TradingView, MT4 and MT5 with 4,000+ instruments and leverage of up to 1:500 on Standard and ThinkZero accounts. International clients contract with a Seychelles-licensed entity.
IronFX operates as a retail CFD broker providing high leverage up to 1:1000 on MetaTrader 4, but international clients contract through an offshore entity without statutory compensation protection.
CFI Financial offers MT5, TradingView and its own app with no minimum deposit and leverage of up to 1:500. International clients trade with CFI International Ltd, licensed in Mauritius.
EC Markets offers MT4, MT5 and its own app with a $10 minimum deposit on STD and ECN accounts and leverage of up to 1:1000. International clients trade with the Mauritius-licensed entity.
General CFD risk warning
CFDs are complex leveraged products and carry a high risk of rapid losses. They do not give you ownership of the underlying asset. Depending on your jurisdiction, broker entity and client classification, protections such as leverage limits and negative-balance protection may differ or may not apply. Where negative-balance protection is not provided, losses may exceed the funds you deposit. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Disclaimer
This page is provided for general information only. Nothing on this page constitutes investment, tax or trading advice, or a recommendation to open an account or trade with a particular broker. Laverlane does not provide personalised investment advice. We are not a broker or financial institution, we do not arrange or execute trades, and we do not hold client funds.
Broker availability, spreads, fees, leverage, products and legal protections, including compensation schemes and negative-balance protection, vary by the broker’s legal entity, your country of residence and your client classification, and may change over time. Where a broker is required to publish its retail CFD loss rate, that figure is shown on its review page. Spreads shown are typical figures as at our verification date; they are not guaranteed and may widen, particularly during volatile market conditions.
Laverlane Scores reflect the information available at our most recent review. They are editorial assessments, not guarantees of a broker’s financial strength, reliability or future performance. Where we report a regulator warning or enforcement notice, it reflects the official public information available at the time of our review.
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