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 |
Pros
- Well-regulated by multiple reputable authorities including CySEC and FCA
- High user rating of 4.2 out of 5 based on 89 reviews
- Ranked 3rd out of 1102 forex brokers by expert rating
- Wide range of asset classes and instruments available
- High popularity with over 2.8 million monthly visits
- Low spreads on key forex pairs
Cons
- Not licensed as a bank
- Does not provide financials publicly
- Higher spreads on some crypto assets compared to leading brokers
- Swap rates are not the lowest in the industry
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 |
|
up to €20,000
|
|
|
30 : 1 | |
| HF Markets (UK) Ltd |
|
up to £85,000
|
|
|
30 : 1 | |
| HF Markets SA (PTY) Ltd |
|
|
|
|
1000 : 1 | |
| HF Markets (DIFC) Ltd |
|
|
|
|
50 : 1 | |
| HF Markets (Seychelles) Ltd |
|
|
|
|
1000 : 1 | |
| HFM Investments Ltd |
|
|
|
|
400 : 1 | |
| HF Markets (SV) Ltd |
|
|
|
|
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
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| HFM – Premium | 21.26 | 2.82 | 3.73 | 0.18 |
| Tickmill – Classic | 8.86 | 2.25 | 1.91 | 0.18 |
| IC Markets – Standard | 9.29 | 1.51 | 1.23 | 0.10 |
| XM – Standard | 39.54 | 2.39 | 3.63 | - |
| Pepperstone – Standard | 10.77 | 1.91 | 2.14 | 0.09 |
| Axi – Pro | 13.81 | 1.15 | 1.55 | 0.09 |
| IG – Standard | 51.55 | 2.16 | 3.23 | 0.23 |
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
| Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | AUS200 | US30 | XAUUSD | XAGUSD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HFM – Premium | 38.91 | 3.61 | 1.76 | 2.53 | 3.95 | 2.08 | 3.97 | 2.66 | 1.44 | 6.02 | 0.32 | 0.05 |
| Tickmill – Classic | 16.10 | 1.61 | 1.70 | 1.96 | 2.70 | 1.89 | 2.66 | 2.61 | 1.53 | 2.28 | 0.25 | 0.01 |
| IC Markets – Standard | 15.59 | 3.00 | 0.88 | 1.14 | 1.81 | 1.37 | 2.35 | 1.49 | 1.51 | 0.96 | 0.18 | 0.02 |
| XM – Standard | 73.71 | 5.37 | 1.29 | 1.57 | 3.45 | 2.20 | 3.44 | 2.41 | 2.84 | 4.45 | - | - |
| Pepperstone – Standard | 18.54 | 3.01 | 1.14 | 1.43 | 2.82 | 1.46 | 2.68 | 1.95 | 1.46 | 2.82 | 0.17 | 0.02 |
| Axi – Pro | 25.32 | 2.30 | 0.53 | 1.15 | 1.73 | 0.72 | 1.40 | 1.40 | 1.10 | 2.00 | 0.15 | 0.02 |
| IG – Standard | 98.00 | 5.10 | 0.81 | 0.99 | 3.28 | 1.45 | 3.04 | 3.37 | 2.64 | 3.82 | 0.44 | 0.02 |
Swap Rates/Financing Fees
Swap fees, also known as overnight financing fees, are charged when a position is held overnight. Positive swap rates pay out, while negative swap rates cost money.
HFM's average swap rates are generally in line with industry standards but are not the lowest in the market. Here’s a comparison of average swap rates across various brokers:
| Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| HFM | - | -7.43 | -0.14 | -0.15 | -3.58 | 0.00 | 0.00 | -40.72 |
| Tickmill | - | -2.24 | -0.13 | -0.13 | -2.66 | 1.27 | 20.97 | -32.76 |
| IC Markets | - | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
| XM | - | -5.29 | -0.15 | -0.19 | -3.73 | 1.12 | 19.67 | -48.45 |
| Pepperstone | - | -3.00 | -0.14 | -0.14 | -2.70 | 1.30 | 22.99 | -39.29 |
| Axi | Best | -1.57 | -0.04 | -0.13 | -2.65 | 1.40 | 20.00 | -28.00 |
| IG | - | - | - | - | - | - | - | - |
Does HFM Offer Islamic/Swap-free Accounts?
Islamic accounts, also known as swap-free accounts, are designed to comply with Sharia law, which prohibits earning or paying interest. HFM offers Islamic accounts to clients who adhere to Islamic principles.
These accounts do not incur swap or rollover interest on overnight positions, making them suitable for Muslim traders. To apply for an Islamic account, traders need to complete a specific form available on the HFM website and adhere to the broker's terms and conditions for maintaining a swap-free account.
Other Fees
Beyond spreads and swap rates, HFM charges other fees that traders should be aware of:
| Fee Type | Amount |
|---|---|
| Withdrawal Fee | Depends on the method, generally $5 for bank transfers |
| Inactivity Fee | $5 per month after 6 months of inactivity |
| Account Maintenance Fee | None |
It's important for traders to review the broker's fee schedule on their website to understand all potential charges that may apply.
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
| Platform | Devices | Automated Trading |
|---|---|---|
| MetaTrader 4 | Desktop, Mobile, Web | Yes, MQL4 |
| MetaTrader 5 | Desktop, Mobile, Web | Yes, MQL5 |
| HFM App | Mobile | No |
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?
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | 50+ |
| Crypto CFD | 40 |
| Stock CFD | 900+ |
| Stock Index CFD | 11 |
| Commodities CFD | 13 |
| ETFs | 34 |
| Bond CFD | 3 |
| Futures CFD | - |
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.
| Websites |
hfm.com
|
| Organic monthly visits | 1,697,214 (99%) |
| Organic traffic rank | 23 out of 941 (Forex Brokers) |
| Paid monthly visits | 16,910 (1%) |
| Total monthly visits | 1,714,124 |
| Bounce rate | 33% |
| Pages per visit | 4.96 |
| Average visit duration | 00:05:40.7360000 |
HFM Profile
| Company Name | HF Markets SA (PTY) & HF Markets (SV) Ltd |
| Categories | Forex Brokers, Forex Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2010 |
| Headquarters | Cyprus |
| Office Locations | United Arab Emirates, Bulgaria, Kenya, Mauritius, United Kingdom, South Africa |
| Account Currency | EUR, JPY, USD, ZAR, NGN |
| Support Languages | Arabic, Chinese, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Bengali, Urdu, Chinese (Traditional), Filipino |
| Funding Methods | Bank Wire, Credit/Debit Card, FasaPay, Neteller, Skrill, Sofort, BitPay, PayRedeem |
| Financial Instruments | Forex, Shares, Indices, Bonds, Oil/Energies, Cryptocurrencies, Metals, ETFs |
| Prohibited Countries | Iran, United States |
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
HFM User reviews
)
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.
HFM Cashback rebates
| Zero Spread | Pro | Premium | PAMM Client accounts (Premium) | PAMM Client accounts (Premium Plus) | |
| Forex | $2.25 Per Lot | Up to $14.00 Per Lot | $2.25 Per Lot | ||
| Oil / Energies | $0.56 Per Lot | $0.50 Per Lot | $0.56 Per Lot | ||
| Metals | Gold $3.93 Per Lot | Up to $6.00 Per Lot | $2.25 Per Lot | ||
| Shares / Equities | MT4 - $0.56 MT5 - $0.0056 Per Lot | MT4 - $0.50 MT5 - $0.005 Per Lot | $0.56 Per Lot | ||
| Indices | $0.56 Per Lot | $0.50 Per Lot | $0.56 Per Lot | ||
| Cryptocurrencies | $0.56 Per Lot | $0.50 Per Lot | - | ||
| Payment Options |
Direct to broker account (After $1)
Monthly Cash Back
| ||||
| Zero Spread | |
| Forex | $2.25 Per Lot |
| Oil / Energies | $0.56 Per Lot |
| Metals | Gold $3.93 Per Lot |
| Shares / Equities |
MT4 - $0.56 MT5 - $0.0056 Per Lot |
| Indices | $0.56 Per Lot |
| Cryptocurrencies | $0.56 Per Lot |
| Payment Options |
Direct to broker account (After $1)
Monthly Cash Back
|
| Pro | |
| Forex | $2.25 Per Lot |
| Oil / Energies | $0.56 Per Lot |
| Metals | Gold $3.93 Per Lot |
| Shares / Equities |
MT4 - $0.56 MT5 - $0.0056 Per Lot |
| Indices | $0.56 Per Lot |
| Cryptocurrencies | $0.56 Per Lot |
| Payment Options |
Direct to broker account (After $1)
Monthly Cash Back
|
| Premium | |
| Forex | Up to $14.00 Per Lot |
| Oil / Energies | $0.50 Per Lot |
| Metals | Up to $6.00 Per Lot |
| Shares / Equities |
MT4 - $0.50 MT5 - $0.005 Per Lot |
| Indices | $0.50 Per Lot |
| Cryptocurrencies | $0.50 Per Lot |
| Payment Options |
Direct to broker account (After $1)
Monthly Cash Back
|
| PAMM Client accounts (Premium) | |
| Forex | $2.25 Per Lot |
| Oil / Energies | $0.56 Per Lot |
| Metals | $2.25 Per Lot |
| Shares / Equities | $0.56 Per Lot |
| Indices | $0.56 Per Lot |
| Payment Options |
Direct to broker account (After $1)
Monthly Cash Back
|
| PAMM Client accounts (Premium Plus) | |
| Forex | $2.25 Per Lot |
| Oil / Energies | $0.56 Per Lot |
| Metals | $2.25 Per Lot |
| Shares / Equities | $0.56 Per Lot |
| Indices | $0.56 Per Lot |
| Payment Options |
Direct to broker account (After $1)
Monthly Cash Back
|
Notes
Rebates are not paid for:
- Accounts registered with Seychelles FSA entity
- Residents of France, Portugal
- Deals from which the margin arises from the bonus funds
- PAMM manager; HF Social accounts; hedge trades; and UK Shares trades.
What are HFM rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do HFM rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much HFM rebates can I earn?
HFM Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| HF Markets (Europe) Ltd |
|
up to €20,000
|
|
|
30 : 1 | |
| HF Markets (UK) Ltd |
|
up to £85,000
|
|
|
30 : 1 | |
| HF Markets SA (PTY) Ltd |
|
|
|
|
1000 : 1 | |
| HF Markets (DIFC) Ltd |
|
|
|
|
50 : 1 | |
| HF Markets (Seychelles) Ltd |
|
|
|
|
1000 : 1 | |
| HFM Investments Ltd |
|
|
|
|
400 : 1 | |
| HF Markets (SV) Ltd |
|
|
|
|
2000 : 1 |
HFM Symbols
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