HFM Review 2026
HFM holds real licenses in the UK, Cyprus, Dubai and South Africa, but most international clients trade through an unregulated offshore entity in St Vincent and the Grenadines.
Min Deposit
$0
Spreads From
0.0 pips
Max Leverage
1:30
Platforms
3
Pros
- Regulated by the FCA in the UK and by CySEC in Cyprus
- Also licensed by the DFSA in Dubai and the FSCA in South Africa
- Supports MetaTrader 4 and MetaTrader 5 alongside its own app
- A Zero account offers real spreads from 0.0 pips with a commission
- Over 80 industry awards and a Trustpilot score near 4.5
Cons
- Most international clients use an unregulated St Vincent entity
- Standard Cent and Premium accounts carry wide spreads from 1.2 pips
- Trustpilot reviewers report slow withdrawals through payment providers
- Some reviewers describe sudden account restrictions and closures
- Educational content is standard and not deeply differentiated
HFM began in 2010 as HotForex, first licensed in Mauritius, then in Cyprus in 2012. It changed its name to HFM in 2022. Today the group holds real licenses from the FCA in the UK, CySEC in Cyprus, the DFSA in Dubai, the FSCA in South Africa, the CMA in Kenya, and the FSA in Seychelles.
Most clients outside these regions use HF Markets (SV) Ltd, registered in St Vincent and the Grenadines and not overseen by any of those regulators. This entity offers leverage up to 1:2000. HFM supports MetaTrader 4, MetaTrader 5, and its own app. Standard accounts start near 1.2 pips, while its Zero account offers spreads from 0.0 pips plus a commission.
On Trustpilot, HFM scores about 4.5 out of 5 from thousands of reviews, yet close to 9 percent leave only 1 star. Common complaints point to slow withdrawals through third party payment providers and sudden account restrictions. HFM sponsors Arsenal Football Club and has won more than 80 industry awards since 2010.
Min. Deposit
USD 0
Max Leverage
1:30 for FCA and CySEC retail clients, up to 1:2000 offshore
Spreads From
0.0 pips on the Zero account, plus a commission
Platforms
HFM is the rebrand of HotForex, which started in 2010 and grew to serve 4 million clients. In 2022 it changed its name to HFM. The group holds licenses from the FCA in the UK, CySEC in Cyprus, DFSA in Dubai, FSCA in South Africa, and FSC in Mauritius. Most clients trade under the Mauritius or Cyprus license, not the higher-tier FCA entity.
HFM provides MetaTrader 4, MetaTrader 5, and its own app. You can trade 1,000+ instruments: 50+ forex pairs, stocks, indices, commodities, bonds, ETFs, crypto. Four account tiers are offered, starting from Cent (1.0 pips). The Zero Spread account strips spreads to 0.0 pips but charges $6 per lot. No minimum deposit is required.
On Trustpilot, HFM has about 1,200 reviews at 3.2 stars. Yet 38 percent are 1 star. Complaints describe bonus money that locks in and vanishes, trading volume that won't clear, and customer support that never replies. The FCA website shows no recent fine, but the Trustpilot record is rough.
Cent
Standard
Zero Spread
50+ currency pairs available for trading
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
Regulators
Platforms
- FCA (UK)
- CySEC (Cyprus)
- DFSA (Dubai)
- FSCA (South Africa)
- FSC (Mauritius)
