HFM Review 2026
HFM (formerly HotForex) is a multi-regulated broker founded in 2010, distinguished by a Lloyd’s of London civil-liability insurance policy of up to £5M aggregate / £500K per eligible client, layered on top of standard fund segregation. Spreads start from 0.0 pips on Zero Spread accounts with a $3/lot/side commission. Strong copy-trading and free VPS make HFM attractive to social and algorithmic traders.
- CySEC, FCA, FSCA, FSA licences
- Lloyd’s insurance up to £5M / £500K per client
- Spreads from 0.0 pips (Zero account)
- Free HFcopy social trading
- Free MT4 VPS for active clients
- 3.5M+ live accounts
| Regulators | CySEC, FCA, FSCA, FSA |
|---|---|
| Minimum deposit | From $0 |
| Spreads | From 0.0 pips |
| Max leverage | 1:2000 |
| Instruments | Forex, CFDs, Crypto, Commodities, Stocks, Indices |
| Our rating | 4.5 / 5 |
| Founded | 2010 |
| Headquarters | Limassol, Cyprus |
Risk Disclaimer: Forex and CFD trading involves substantial risk and is not suitable for all investors. This content is for information only—not financial advice. Past performance does not guarantee future results.
Broker profile at a glance
The panels below summarise what HFM is: how it scores on each of the five dimensions we weight, the company facts behind it, and which regulator licenses the entity that would actually hold your money.
| Item | Detail |
|---|---|
| Headquarters | Limassol, Cyprus |
| Founded | 2010 (16 years) |
| Maximum leverage | 1:2000 |
| Instruments | Forex, CFDs, Crypto, Commodities, Stocks, Indices |
| Commission per lot | $0 |
| Demo account | Yes |
| Swap-free (Islamic) account | Yes |
| Copy trading | Yes |
| Trustpilot | 4.0 / 5 from 10,000 reviews |
Where HFM is licensed
A broker is not simply "regulated" or not. Each licence covers one legal entity in one jurisdiction, and the entity that opens your account depends on where you live. Every number below links to the regulator’s own register so you can check it yourself.
| Country | Licence | Tier | Legal entity |
|---|---|---|---|
| Cyprus | CySEC 183/12 | Tier 1 | HF Markets (Europe) Ltd |
| United Kingdom | FCA 801701 | Tier 1 | HF Markets (UK) Ltd |
| South Africa | FSCA FSP 46632 | Tier 2 | HF Markets SA (Pty) Ltd |
| Seychelles | FSA SD015 (no public register) | Tier 3 | HF Markets (SV) Ltd |
A licence covers only the entity named beside it. The entity that opens your account depends on your country of residence, so check which one your account agreement names before you deposit.
Licence details verified against the regulator’s own public register.
Regulation & Licenses
Is HFM regulated and safe?
HF Markets Group holds licences under CySEC (Cyprus), FCA (UK), FSCA (South Africa) and FSA (Seychelles). On top of mandatory client-fund segregation, HFM carries a Lloyd’s of London civil-liability insurance policy — an unusual extra layer of protection in retail forex. Each entity is staffed separately and discloses regulator-specific terms.
| Entity | Regulator | License | Tier |
|---|---|---|---|
| HF Markets (Europe) Ltd | CySEC (Cyprus) | 183/12 | Tier 1 |
| HF Markets (UK) Ltd | FCA (UK) | 801701 | Tier 1 |
| HF Markets SA (Pty) Ltd | FSCA (S. Africa) | FSP 46632 | Tier 2 |
| HF Markets (SV) Ltd | FSA (Seychelles) | SD015 | Tier 3 |
Verify these licences yourself: CySEC register · FCA register · FSCA register · FSA register.
Trading Costs & Account Types
What does it cost to trade with HFM?
HFM’s account ladder ranges from a $0 minimum Cent account designed for risk-averse beginners up to the Zero Spread account designed for scalpers and EAs. Premium, Pro and Zero Spread accounts share the same trading engine and instrument universe.
| Account | Spread From | Commission | Min Deposit |
|---|---|---|---|
| Cent | 1.2 pips | None | $0 |
| Premium | 1.2 pips | None | $0 |
| Pro | 0.5 pips | None | $100 |
| Zero Spread | 0.0 pips | $3 / lot | $200 |
Platforms & Tools
HFM supports MetaTrader 4 and MetaTrader 5 across desktop, web and mobile, plus the proprietary HFM mobile app with one-tap order entry. HFcopy, the integrated social/copy trading network, lets you mirror verified strategy providers with full track-record transparency. Active clients also qualify for a free MetaTrader VPS hosted in low-latency data centers.
Deposits, Withdrawals & Support
Deposits process instantly across cards, e-wallets and 25+ local payment methods; bank wire takes 1–3 business days. HFM does not charge internal deposit or withdrawal fees. Live chat support is 24/5 in 27+ languages, with localised desks in major Asian, African and Latin American markets.
Pros & Cons
- Lloyd’s of London insurance up to £5M aggregate / £500K per client
- CySEC and FCA Tier-1 oversight
- Zero Spread account with $3 commission on majors
- Free HFcopy social/copy trading network
- Free MetaTrader VPS for active clients
- 25+ local payment methods supported
- Standard account spreads (1.2 pips) wider than ECN peers
- FSA (Seychelles) entity offers significantly less protection
- No native cTrader or TradingView routing
- Higher spread on indices and metals than dedicated ECN brokers
- Insurance triggers on company default — not market loss
Verdict
HFM’s combination of Lloyd’s insurance, CySEC/FCA oversight and a usable Zero Spread account makes it a reasonable choice for traders who want an extra layer of fund protection without giving up tight trading costs. The HFcopy network is genuinely competitive with eToro and the free VPS is a nice perk for EA users. The standard accounts are too expensive for serious active trading — pick Pro or Zero Spread.
Open a HFM accountFrequently Asked Questions
Is HFM regulated?
How much insurance does HFM provide?
What is the spread on the HFM Zero Spread account?
Is HFM the same as HotForex?
Does HFM offer copy trading?
Can I get a free VPS at HFM?
Ready to trade with HFM?
Open an account on the official site and claim any current welcome offer. You will pass through a brief redirect page on the way.
Visit HFM official site Or compare HFM with another broker · see the full broker rankings.fxreviewlab publishes independent broker research. This page may contain affiliate links; commissions never influence ratings or editorial conclusions. Trading derivatives carries a high risk of capital loss. Always verify a broker’s licence with the relevant regulator before depositing funds.