HFM Review 2025:
All you need to know

Account types

• Premium Account (Spread-Only):
  The standard account type that HFM offers with access to a wide range of assets, including Forex, commodities, indices, stocks, bonds, ETFs and cryptocurrencies, on a spread-only pricing model with no additional commission.
• Zero Account (Raw Spread + Commission): Designed for traders seeking tighter spreads, the Zero Account features raw spreads plus a fixed commission per trade. This account is suitable for active traders and those who prioritize low-cost execution.
• Cent Account: Available in certain regions, the Cent account allows trading with micro-lot sizes and has no minimum deposit requirement. It is ideal for beginners or those who wish to test strategies with minimal risk, as all balances and trades are denominated in cents.
• Pro Account: With ultra-low spreads, leverage up to 2000:1 and no commissions, the swap-free Pro account is designed to suit the needs of a more experienced trader who wants to take their trading to the next level.

• Demo Account: HFM offers unlimited, customizable demo accounts on MT4, MT5, and WebTrader. These accounts allow traders to test their trading strategies using up to $100,000 in virtual funds in real market conditions.
• Islamic (Swap-Free) Account: HFM offers an Islamic (Swap-Free) account option to accommodate clients requiring Sharia-compliant trading. Swap-free status is available on request and can be applied to most account types.

Note: The availability of specific account types varies by region and regulatory entity.

Costs and fees

Costs and fees vary depending on the account selected.

• Spreads and/ or Commission: Spreads are variable in all account types
  • Forex: Spreads start from 1.4 pips on the Premium account, though lower raw spreads are available on the Zero account (with commission).
  • Metals: Spreads from 0.028 pips
  • Indices and Commodities: Spreads from 0.4 pips
  • Bonds: Spreads from 0.05 pips
  • Stocks/Shares: 0.0 pips
  • Cryptocurrency: Variable spreads apply, and on certain types of accounts and platforms chosen, there is an additional 0.05% commission fee per trade.
• Swap/Rollover fees: Rollover fees apply for overnight positions and depend on the traded instrument.
  • Forex: Swaps vary by pair; generally better than average for EUR/USD, average for GBP/USD, and mixed for other pairs.
  • Gold and BTC/USD: Below average for both longs and shorts.
  • Indices: S&P 500 swaps are below average for shorts and better than average for longs.
  • Swap rates can be calculated through the Swaps Calculator on the HFM website.
• Inactivity fees: After 6 months of inactivity, a dormant fee applies:
  • 6-12 months: $5/month
  • 1-2 years: $10/month
  • 2-3 years: $20/month
  • Over 3 years: Previous year’s fee plus $10/month, until the account reaches zero.
• Deposit Fees:
  • There are no deposit fees for the most common payment methods (debit/credit cards, bank transfers over $250, Skrill, Neteller).
  • Some niche or local methods may incur third-party charges, but these are not standard HFM fees.
• Withdrawal Fees:
  • No withdrawal fees for major methods (debit/credit cards, Skrill, Neteller).
  • Bank transfers may incur third-party/correspondent bank charges (not controlled by HFM).
  • BitPay (crypto) withdrawals incur a 1% fee.

Depositing ease

HFM offers a variety of deposit options, making it easy for clients in most regions to fund their accounts. Supported deposit methods include bank transfers, credit and debit cards, e-wallets such as Skrill and Neteller, cryptocurrency (BTC, ETH, USDT, and others where available), and various local payment solutions.

• Minimum deposit: No minimum deposit is required for Cent, Premium and Zero Accounts; however, your chosen payment method may have a minimum funding amount when you are ready to add funds. The Pro Account has a minimum deposit requirement of $100.
• Currencies accepted for deposits (and withdrawals)
  • Fiat: USD, EUR, and GBP. Depending on your region and the available payment methods, you can also deposit in local currencies such as JPY, CHF, PLN, ZAR, AED, NGN, GHS, and KES, with funds automatically converted to your account’s base currency if necessary.
  • Cryptocurrency: Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
• Processing Times:
  • Credit/Debit Cards: Most card payments are credited within 10 minutes.
  • E-wallets (Skrill, Neteller, etc.): Deposits are typically processed instantly or within 10 minutes.
  • Bank Transfers: This is the slowest method, with processing times ranging from 2 to 10 business days, depending on your country and banking system.
  • Local Payment Methods: Mobile money or instant bank transfers are available in select regions and are generally processed immediately.
  • Cryptocurrency: Deposits are usually credited instantly or within 24 hours, depending on blockchain confirmation times and the specific token used.
• User Experience: Depositing funds was straightforward and user-friendly, with step-by-step guidance on the HFM platform. We opted to use a debit card for the deposit, and the funds arrived in our myHF wallet for distribution to the relevant trading account within 10 minutes.

Withdrawal ease

HFM processes withdrawal requests efficiently, with most requests handled on the same business day if submitted before the daily cutoff time (typically 10 a.m. server time). Withdrawals must first be made via the same method used for your deposit.

To initiate a withdrawal, funds must first be transferred from your trading account to your myHF wallet. Withdrawals are processed from the myHF wallet and returned to your original funding source before any other method is chosen.

• Minimum withdrawal: The minimum withdrawal amount varies by method, ranging from $5 to $100. For example, credit/debit cards and most e-wallets have a low minimum withdrawal of $5, while bank wire transfers typically require a higher minimum, such as $100 or equivalent.
• Processing times:
  • Credit/debit cards: These methods may take 2 to 10 business days, depending on your bank or card provider and location.
  • E-wallets (Skrill, Neteller, etc.): Withdrawals are typically processed instantly.
  • Bank Transfers: Takes between 2 and 10 business days, depending on your correspondent bank.
  • Local Payment Methods: Processing times vary, but are typically fast where instant banking or mobile money is supported.
  • Cryptocurrency: Withdrawals are generally processed quickly, often instantly or within 24 hours after approval.
• User Experience: We made a debit card withdrawal from the account, and while we initially encountered a processing issue, the second attempt was processed smoothly. The payment was returned to the originating bank within 48 hours.

Bonuses and promotions

HFM offers a variety of bonuses and promotions to encourage new traders and enhance the trading experience for its clients. However, these offers are not universally available; therefore, eligibility will depend on your location and the regulatory requirements in that region.

For applicable regions, the available promotions can include deposit bonuses, cashback programs, trading competitions, loyalty rewards, and referral incentives. For the latest details and to confirm eligibility, clients should refer to HFM’s website, as program participation and terms may be updated or modified over time.

• Key Considerations: Bonuses and promotions at HFM are subject to strict terms and conditions, often requiring traders to meet specific trading volume thresholds before bonuses can be withdrawn. Most bonuses are non-withdrawable until these requirements are met, and withdrawing your own funds before meeting the conditions may result in the loss of any bonus. The availability, size, and achievability of bonuses vary by region and account type, as local regulations and promotions differ. HFM regularly updates its promotions, contests, and loyalty rewards, which are subject to change or discontinuation without prior notice.

Lot sizes

The lot sizes depend on the specific asset being traded, giving you the flexibility to trade smaller amounts for better risk management.

• Forex: The minimum trade size is 0.01 lot (1,000 units of base currency) on premium and zero accounts. The maximum trade size per position is 60 standard lots (6,000,000 units), with trade size increments of 0.01 lot. For cent accounts, 1 lot equals 1,000 units (cent lots), and the maximum is 200 cent lots per position.
• Indices: The minimum trade size is typically 0.01 lot. The contract size and minimum/maximum lot may vary by index, but the standard increment remains 0.01 lot.
• Commodities: Minimum lot size is generally 0.01 lot, but exact contract specifications (such as how much gold or oil is represented by one lot) vary by instrument. For example, 1 lot of gold usually equals 100 ounces, while energies and softs have their own contract definitions.
• Cryptocurrencies: Minimum lot sizes vary by asset. For example, BTC/USD can be traded from as little as 0.01 lots (which may represent 0.01 BTC depending on the contract), ETH/USD from 0.1 lots, and XRP/USD from 10 units. Each crypto CFD has its own minimum and contract size, reflecting the underlying asset’s price and unit structure.
• Stocks/Shares: Minimum trade size is typically 1 share (or the equivalent CFD contract), with some flexibility depending on the stock and platform.
• ETFs and Bonds: Minimum trade size is usually 1 contract, with exact specifications varying by instrument.

Leverage

Maximum leverage depends on the entity and client classification.

HFM, operating from SVG and South Africa, offers leverage up to:

• Forex: 2000:1.
• Major Indices: 500:1.
• Gold 2000:1 & Major Commodities: 500:1.
• Other Commodities (other than Gold): Up to 100:1 or 66:1 (varies by instrument).
• ETFs and Bonds: 100:1.
• Shares/Stocks: 50:1.
• Cryptocurrencies: 50:1.

Note: Seychelles offers leverage on Forex of up to 1000:1

HF Markets (UK) Ltd offers leverage up to:

• Forex: 30:1.
• Major Indices: 20:1.
• Gold & Major Commodities: 20:1.
• Other Commodities (other than gold): 10:1.
• Shares/Stocks, ETFs, and Bonds: 5:1.
• Cryptocurrencies: 2:1.

Execution quality

HF Markets (UK) Ltd operates an STP-style execution model, where client orders are transmitted to another entity of HFM Group in order to be executed. This venue aggregates prices from multiple liquidity providers.

All orders are executed at market prices and are subject to best execution requirements, considering factors such as price, transaction costs, speed, and likelihood of execution.

While HFM does not provide full transparency on order routing or direct market access, the broker does not operate a dealing desk for retail clients.

User Experience: During our testing across multiple assets, our market and limit orders were filled efficiently. Most trades were executed within 600 milliseconds and filled at the expected price, with some trades having price improvements on both entry prices and exits.

From our observations, spreads are variable and remain stable under normal conditions, although a slight widening during periods of high volatility was noticed; it was to be expected.

We found the daily email trade summary a useful feature, providing a clear, detailed account statement of all trading activity, including open and closed trades, profit and loss, commissions, and margin status. This daily report is useful for tracking performance and quickly identifying discrepancies. This is followed up by a monthly statement.

HFM provides a multi-platform option, combining well-known industry standards such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5) with its own proprietary HFM App. All platforms provide advanced charting, multiple order types, and real-time market data. The Copy Trading offering is rich, while educational materials, calculators, and market analysis tools enhance the trading experience.

Trading platforms

HFM provides access to desktop, WebTrader, and its proprietary App for traders depending on the account selected.

HFM operates under a multi-jurisdictional structure that spans top-tier regulators such as the UK’s FCA, mid-tier bodies like the DFSA (Dubai) and FSCA (South Africa), and lower-quality offshore regulators. Client funds are held in segregated accounts, and negative balance protection is available in specific regions. While regulatory conditions differ by jurisdiction, HFM’s structure provides a credible level of investor protection and operational transparency, making Trust the highest-scoring category in the review.

Regulation tiers and alerts

HFM Group operates within different regulatory environments, ranging from highly secure FCA, mid-tier DFSA and the more flexible, higher-leverage regions such as the Seychelles and SVG. The level of client protection, compensation schemes, and regulatory oversight varies significantly depending on the entity under which your trading account is opened.

High-Tier Regulation:

• UK: Financial Conduct Authority (FCA).

Mid-Tier Regulation:

• Dubai: Dubai Financial Services Authority (DFSA).
• South Africa: Financial Sector Conduct Authority (FSCA).
• Kenya: Capital Markets Authority (CMA).

Low-Tier Regulation:

• Seychelles: Financial Services Authority (FSA).
• St. Vincent & the Grenadines: Financial Services Authority (SVGFSA).

Note: HFM doesn’t offer its services to clients from the United States, Canada, Sudan, Syria, North Korea, Iran, Cuba, Belgium, Afghanistan, Yemen, Vanuatu, Myanmar (Burma), Central African Republic, Democratic Republic of the Congo, Libya, Somalia, South Sudan, Zimbabwe, Occupied Territories of Palestine, and any other jurisdictions where local laws or regulations prohibit such services.

Other protection

• HFM provides negative balance protection for clients, but only in certain jurisdictions, which means traders cannot lose more money than they have deposited, even during extreme market volatility or rapid price movements. If an account balance becomes negative, for example, due to a stop-out or a market gap, HFM will automatically reset the balance to zero and not require clients to repay any negative amount.
• HFM holds client funds in segregated accounts, separate from the company’s own operating funds. This means that client money is held in trust at approved banks and cannot be used for company expenses or to pay creditors in the event of company default.
• HFM offers two-factor authentication (2FA) on its platforms, providing an extra layer of protection beyond a standard password, which is recommended.

Reputation

Traders generally agree that HFM is a well-regarded broker offering a wide selection of trading instruments, competitive spreads, and efficient deposit and withdrawal processes.

The broker is recognized for its regulatory oversight, creating a trustworthy environment in which to trade, while also offering a variety of account options to suit traders' needs. While most clients find the platform user-friendly and suitable for both new and experienced traders, some have noted occasional issues with platform stability, occasional slippage, customer support response times, and clarity regarding bonus terms or regional restrictions. Overall, HFM maintains a positive reputation among its clients, although individual experiences may vary depending on their region and account type.

HFM offers multilingual customer support available 24 hours a day, five days a week, via live chat, phone, and email. Response times are mostly prompt, and agents provide clear, relevant answers with direct resources. However, there were occasional delays and brief periods when live chat was unavailable during active trading hours. Overall, HFM’s support team proved helpful and knowledgeable, though consistency in availability could improve.

Support availability

HFM provides customer support 24 hours a day, five days a week, from Sunday at 00:05 (server time) until Friday at 23:50 (server time) through multiple support channels such as live chat, phone, and email support.

HFM offers comprehensive language support in at least 26 languages, with real-person customer service and dedicated email contacts for each major language region. Their coverage includes English, Spanish, Arabic, Chinese, Filipino, Indonesian, Korean, Malay, Thai, Vietnamese, and others.

The website can be translated into 13 languages, including English, Bulgarian, Czech, German, Greek, Spanish, French, Hungarian, Italian, Polish, Portuguese, Romanian, and Slovak. The mobile app can also be translated into 11 languages.

Usefulness

During our testing, we found that the live chat feature was not always accessible, even during the advertised support hours. At times, it took up to an hour to receive a response to our questions. On one occasion, live chat was unavailable for two hours during the trading week. This inconsistency in availability and response times is worth noting, especially for traders needing prompt assistance.

Overall, HFM’s customer support was generally responsive and helpful across live chat and email channels. Most live chat queries were answered within a few minutes, with agents providing clear and relevant information. For example, one live chat session was picked up almost instantly, and the issue was escalated and resolved within eight minutes. Other queries, such as withdrawal times, account types, and educational resources, were typically resolved in under six minutes, with agents offering direct links and practical advice.

However, there were a few instances of longer waiting times. On one occasion, receiving a response via live chat took just over an hour, which was an exception rather than the norm. Email support was also generally prompt, with most replies arriving within 30 minutes to two hours. However, one late afternoon query did not receive a response until the following day.

HFM delivers a user experience that balances accessibility, flexibility, and robust functionality for traders of all levels. The broker’s trading platforms and the proprietary HFM App are intuitive and well-suited for beginners through to advanced traders. The account opening process is easy and straightforward, but it took longer than expected.

Mobile App friendliness

The mobile app provides a streamlined yet feature-rich experience for trading on the go. The interface is clean, navigation is logical, and key features such as order management, account funding, and trading tools are easily accessible. Educational resources and research tools are comprehensive, supporting traders with webinars, courses, and real-time market insights. However, one significant caveat is that the mobile app’s charting features are more limited compared to desktop versions.

Account opening process

The account opening process is straightforward: users can register online, upload verification documents, and typically get approved within minutes, allowing for quick access to live or demo trading. In our experience, the account verification process, including document review and activation, was completed within 48 hours due to extra identification and questions, slower than initially expected.