HFM Overall rating

	Rating	Weight
User Rating	4.2 (90 reviews)	3
Popularity	5.0	3
Regulation	5.0	2
Pricing rating	4.5	1
Features	Not rated	1
Customer Support	Not rated	1

We tested HFM using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.

Trustworthiness & Regulation

HFM, founded in 2010, is well-regulated by multiple authorities, including CySEC in Cyprus and FCA in the UK. With a high user rating of 4.2 out of 5 from 89 reviews, it ranks 30th out of 1102 forex brokers based on user ratings and 3rd based on our expert's rating.

The broker enjoys a high popularity rating of 5.0 out of 5, driven by over 2.8 million organic monthly visits. While HFM is privately owned and does not provide its financials publicly, it maintains a robust regulatory framework, ensuring client funds' safety and integrity. However, it's important to remember that even highly regulated and successful financial firms can face challenges.

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
HF Markets (Europe) Ltd	Cyprus - CY CYSEC		up to €20,000			30 : 1
HF Markets (UK) Ltd	United Kingdom - UK FCA		up to £85,000			30 : 1
HF Markets SA (PTY) Ltd	South Africa - ZA FSCA					1000 : 1
HF Markets (DIFC) Ltd	United Arab Emirates - AE DFSA					50 : 1
HF Markets (Seychelles) Ltd	Seychelles - SC FSA					1000 : 1
HFM Investments Ltd	Kenya - KE CMA					400 : 1
HF Markets (SV) Ltd	Saint Vincent and the Grenadines - Non-regulated					2000 : 1

Deposit Insurance

HFM provides deposit insurance and investor compensation schemes under its regulatory frameworks. In jurisdictions like Cyprus and the UK, client funds are protected by deposit compensation schemes, which compensate investors if an authorized financial firm fails.

Additionally, HFM ensures that client money is segregated from its operating capital, adding an extra layer of security. This separation is mandated by regulators like CySEC and FCA, providing further assurance to traders about the safety of their funds.

Spreads and Costs

HFM offers competitive spreads and costs that are in line with industry standards. However, some crypto assets have higher spreads compared to market-leading brokers.

Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers

Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.

Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.

Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.

Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.

Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers

Comparison to other Brokers

HFM stands out in the forex industry due to its comprehensive regulatory oversight, competitive spreads, and wide range of trading instruments. Compared to other brokers like IC Markets and Tickmill, HFM offers higher average spreads in some asset classes but provides an extensive selection of tradable instruments.

While brokers like Axi and IC Markets have slightly lower spreads in forex and commodities, HFM excels in user popularity and overall web traffic. With a robust regulatory framework and high user ratings, HFM is a trustworthy choice for traders, though it is essential to consider all trading costs and available features when choosing a broker.

Trading Platforms - Mobile, Desktop, Automated

HFM offers the popular MetaTrader 4 and MetaTrader 5 platforms, known for their robust features and support for automated trading through MQL4 and MQL5 programming languages. Both platforms provide high-quality charting tools and a wide range of technical indicators.

The HFM App, available only on mobile, offers a more streamlined trading experience but does not support automated trading. MetaTrader platforms are user-friendly and suitable for traders of all levels, with extensive resources available for learning MQL4 and MQL5 for automated trading.

What Can you Trade?

HFM offers a wide range of asset classes for trading, including forex, cryptocurrencies, stocks, stock indices, commodities, ETFs, and bonds. However, it does not provide futures CFDs.

Traders can access detailed information about the available instruments on HFM's website. Trading CFDs (Contracts for Difference) means you do not own the underlying asset but rather speculate on its price movements.

This allows for leverage, which can magnify both profits and losses. HFM provides access to a diverse range of markets, making it suitable for traders looking to diversify their portfolios.

Available Leverage

HFM offers varying leverage depending on the regulatory entity and the type of instrument traded. For retail clients, leverage is capped at 30:1 under CySEC and FCA regulations.

However, in regions like South Africa and Seychelles, leverage can go up to 2000:1. It's crucial for traders to understand that higher leverage increases both potential returns and risks.

Different instruments may also have different leverage limits, so traders should review the specific terms on HFM's website to understand the leverage available for each asset class.

Prohibited Countries

HFM does not provide services to residents of certain countries due to regulatory restrictions. These countries typically include the United States, Canada, Sudan, Syria, North Korea, and Iran.

Traders from these regions cannot open accounts with HFM. It is advisable for potential clients to check HFM's website or contact customer support to confirm if their country is eligible for opening an account.

HFM Account types

	Zero Spread	Pro	Premium	PAMM Client accounts (Premium)	PAMM Client accounts (Premium Plus)
Commission	Majors $6.0 Per Lot  Others $8.0 Per Lot	-			$5.00 Per Side Per 100K USD Traded
Maximum leverage	2000:1			400:1
Mobile Platform	MT4 Mobile, MT5 Mobile		MT4 Mobile, MT5 Mobile, Proprietary	-
Trading platform	MT4, MT5, WebTrader			-
Spread Type	Variable Spread
Minimum Deposit	0	100	0	500
Minimum Trade Size	0.01
Trailing Stops		-
Scalping Allowed		-
Islamic Accounts

	Zero Spread
Commission	Majors $6.0 Per Lot  Others $8.0 Per Lot
Maximum leverage	2000:1
Typical Spread	0.2
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	0
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Islamic Accounts

	Pro
Maximum leverage	2000:1
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	100
Minimum Trade Size	0.01
Islamic Accounts

	Premium
Maximum leverage	2000:1
Typical Spread	1.4
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 MobileProprietary
Spread type	Variable Spread
Minimum deposit	0
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Islamic Accounts

	PAMM Client accounts (Premium)
Maximum leverage	400:1
Typical Spread	1.0
Spread type	Variable Spread
Minimum deposit	500
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Islamic Accounts

	PAMM Client accounts (Premium Plus)
Commission	$5.00 Per Side Per 100K USD Traded
Maximum leverage	400:1
Typical Spread	0.2
Spread type	Variable Spread
Minimum deposit	500
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Islamic Accounts

HFM Web traffic

Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.

HFM Profile

24 hour support

Segregated Accounts

Islamic Accounts

Accepts Canadian clients

Accepts Japanese Clients

Non expiring demo

Trading API

Cent accounts

Negative balance protection

Social trading

Regulatory deposit insurance

Trailing stops

Bonuses

Interest on margin

Fixed spread

Variable spread