This profile is built from public sources. Each licence row below shows whether our team has checked it against the regulator's register yet. Always confirm on the register yourself before you deposit.
HFM, formerly HotForex, is a multi-entity broker with a strong following in Africa and Asia. It holds licences in the UK, Cyprus, Dubai, South Africa and Kenya.
Serving you from: HF Markets (Seychelles) Ltd — FSA Seychelles #SD015 Tier 3 (offshore)
Strengths
- Local licences in South Africa and Kenya
- FCA, CySEC and DFSA licences in the group
- Very low entry deposit
Weaknesses
- Many international clients are served by offshore entities
- Only MetaTrader and its own app
- High leverage on offshore accounts
Best for: Traders in Africa who want a locally licensed entity.
Key facts
- Founded
- 2010
- Headquarters
- Cyprus
- Publicly listed
- No
- Group regulators
- FCA, CySEC, FSCA, CMA, DFSA, FSA Seychelles
- Min. deposit
- $0
- Platforms
- MetaTrader 4, MetaTrader 5, Own platform
- Execution
- Market maker, STP
- Copy trading
- Yes
- Islamic account
- Yes
- Demo account
- Yes
Regulation and legal entities
A broker brand is usually several companies. The one you open an account with decides your leverage limit, whether you have negative balance protection, and which compensation scheme, if any, covers you.
| Legal entity | Regulator | Licence no. | Max. leverage | Our check |
|---|---|---|---|---|
| HF Markets (UK) Ltd United Kingdom · FSCS up to £85,000 | FCA Tier 1 | 801701 | 1:30 | Not yet verified by us Open register |
| HF Markets (Europe) Ltd Cyprus · ICF up to €20,000 | CySEC Tier 2 | 183/12 | 1:30 | Not yet verified by us Open register |
| HF Markets SA (PTY) Ltd South Africa | FSCA Tier 2 | 46632 | Varies | Not yet verified by us Open register |
| HFM Investments Ltd Kenya | CMA Tier 2 | 155 | Varies | Not yet verified by us Open register |
| HF Markets (DIFC) Ltd United Arab Emirates | DFSA Tier 2 | F004885 | Varies | Not yet verified by us Open register |
| HF Markets (Seychelles) Ltd Seychelles | FSA Seychelles Tier 3 (offshore) | SD015 | Varies | Not yet verified by us Open register |
Accounts and fees
Spreads we measured
We have not measured live spreads for this broker yet. Until we do, cost does not count towards its rating.
Platforms and execution
HFM offers MetaTrader 4, MetaTrader 5, Own platform. Execution model as described by the broker: Market maker, STP.
Deposits and withdrawals
We have not run our own deposit and withdrawal test with this broker yet. When we do, the log appears here with dates and times.
Country availability
Pick your country at the top of the page to see which HFM entity would serve you.
Not accepted, according to the broker: United States.
Alternatives with a shared regulator
| Broker | Trust Score | Your entity & regulator | Min. deposit | Platforms | |
|---|---|---|---|---|---|
| CMC Markets Since 1989 · LSE: CMCX | 91/99 | FCA #173730 CMC Markets UK plc | $0 | Own platform, MetaTrader 4, TradingView | Review Visit CMC MarketsOfficial site · we earn no commission here |
| Interactive Brokers Since 1978 · NASDAQ: IBKR | 91/99 | CFTC/NFA #0258600 Interactive Brokers LLC | $0 | Own platform, TradingView | Review Visit Interactive BrokersOfficial site · we earn no commission here |
| City Index Since 1983 · NASDAQ: SNEX (parent) | 89/99 | FCA #446717 StoneX Financial Ltd | — | Own platform, MetaTrader 4, TradingView | Review Visit City IndexOfficial site · we earn no commission here |
Trust Score and regulator are shown for the legal entity that serves your country. Change country at the top of the page.
Frequently asked questions
Is HFM regulated?
HFM operates through 6 legal entities in our database, holding licences or registrations with: FCA, CySEC, FSCA, CMA, DFSA, FSA Seychelles. Which entity you sign up with depends on where you live, and so does the protection you get. Check the licence number on the regulator's own register before you deposit.
What is the minimum deposit at HFM?
HFM advertises a minimum first deposit of $0 on its entry-level account. The amount can differ by entity, account type and payment method.
Which trading platforms does HFM offer?
HFM offers: MetaTrader 4, MetaTrader 5, Own platform. Platform availability can vary between its entities.
Is HFM a safe broker?
No broker is risk-free. Our Global Trust Score for HFM is 42 out of 99. The score reflects the regulator tier of the entity that serves you, the group's other licences, company structure and track record. It says nothing about whether trading will be profitable for you.