HFM (HotForex) at a glance
HFM (HF Markets, founded in 2010 as HotForex) is a multi-entity forex and CFD broker regulated via six confirmed legal entities — CySEC (Cyprus), FCA (UK), FSCA (South Africa), CMA (Kenya), FSA Seychelles, and an offshore St. Vincent & the Grenadines entity — plus a possibly separate DFSA (UAE) entity flagged by a secondary source but not on HFM's own regulation page. It offers Zero, Cent, Pro, Premium and the higher-leverage "InfinityX" account types across MT4/MT5.
HFM (HotForex) reports a founding year of 2010 and a head office in Larnaca, Cyprus. It lists 6 regulators and 3 trading platforms.
BrokerBazaar verdict
Our research team has not yet published a written verdict for HFM (HotForex). The BrokerBazaar Intelligence Score is 82/100 (low risk), computed from regulatory, operational, transparency, reputation and domain-history signals. Scores are editorial assessments, not user ratings, and are never influenced by payment.
Legal entities, regulation and licences
HFM (HotForex) operates through 4 legal entities, each supervised separately. Your account is with one specific entity, so the protections you receive depend on which one onboards you, not on the group's strongest licence. Overall, the group is supervised by at least one strict-tier regulator.
Licence check: Not independently checked. BrokerBazaar is currently reviewing this broker's information against public records. A company registration or general business licence is not permission to offer regulated brokerage services; only the register entries linked in the table count.
Countries accepted and restricted
HFM (HotForex) states that it accepts clients from UAE, South Africa, Kenya, Nigeria, India, Malaysia, Philippines, Pakistan. Availability is decided per entity and can change without notice; residents of jurisdictions such as the USA, and often the EU and UK, are frequently excluded from offshore entities.
Trading products, platforms and account types
Instruments: not disclosed. Platforms: MT4, MT5, HFM App. Account types: Cent, Premium, Pro, Zero, HFcopy.
Best-for tags assigned by our team: Beginners, Low Deposit, Copy Trading, Scalpers.
Minimum deposit, spreads, commissions and other charges
The minimum deposit is $20. Spreads start from 0.0 pips and commission is $3/lot (Zero). Maximum leverage is 1:2000 (dynamic), subject to the cap of the entity that holds your account.
Swap-free / Islamic account: available (conditional). Swap type: variable. Headline spreads are usually quoted for the most expensive account tier's cheapest instrument; compare total cost for your typical trade.
Deposits and withdrawals
Deposit methods: Bank Transfer, Credit Card, Skrill, Neteller, Crypto, FasaPay. Withdrawal methods: Bank Transfer, Credit Card, Skrill, Neteller.
Withdrawal speed and fees are set by the entity and payment provider. Withdrawal delays are the most common complaint category on BrokerBazaar across all brokers; keep identity documents current and withdraw to the same method you deposited with where required by anti-money-laundering rules.
Execution model, negative balance protection and client money
Negative balance protection: Yes. Scalping allowed: Yes. Algorithmic trading allowed: Yes. News trading allowed: Yes. Hedging: hedging. These conditions were compiled from public information and have not yet been confirmed by the broker.
Client-money rules follow the regulator of the entity that holds your account: CySEC: Segregated under MiFID II client-asset rules. Compensation: ICF — up to €20,000 per client. FSCA: Client funds should be held separately from company funds. Compensation: No central compensation scheme. FSA Seychelles: Segregation expected but rules are lighter than onshore. Compensation: No central compensation scheme. DFSA: Segregation required under DFSA client-money rules. Compensation: No retail compensation scheme.
Complaints and dispute process
Formal complaints: complaints@hfm.com. Phone: +44-203 097 85 71. Complaints must be submitted in writing to complaints@hfm.com and must include the client's name, trading account ID, affected transaction number(s), and a description of the issue. The company acknowledges receipt and issues a unique reference number within 5 business days. An initial response is provided within 15 business days, extendable to 30 business days for complex cases, with a final response no later than 2 months from submission. Unresolved complaints can be escalated by the client to alternative dispute resolution or legal remedies.
If the broker does not resolve a complaint, escalate to the ombudsman or regulator of the entity that holds your account. BrokerBazaar's Dispute Support Desk can help you document and escalate a case.
Strengths and limitations
- Strength: Strong multi-regulator framework
- Strength: Zero spread account available
- Strength: Excellent copy trading platform
- Strength: $0 minimum deposit
- Strength: Premium research and analysis tools
- Limitation: Inactivity fee after 6 months
- Limitation: Variable spreads can widen during news
- Limitation: Limited cryptocurrency CFDs
Who this broker suits, and who it does not
HFM (HotForex) is most relevant to traders looking for: Beginners, Low Deposit, Copy Trading, Scalpers.
It is less suitable for anyone who needs a strict-tier regulator in their own country of residence but would be onboarded by an offshore entity, for residents of restricted jurisdictions, and for beginners who have not yet understood leverage and margin. Nothing on this page is personal financial advice.
HFM (HotForex) change history
Every published fact change, with the previous value and the date it took effect. Each entry says whether the broker made the change itself or our editors checked it against an official source. Regulation and licence claims are always checked by an editor.
No fact changes recorded for HFM (HotForex) yet. Changes appear here as soon as the broker updates its profile or our editors confirm a change.
Frequently asked questions about HFM (HotForex)
Data sources. Broker submission, the regulator registers linked above, CySEC public register (183/12) & FCA Financial Services Register, web-archive and domain records, and third-party traffic data. Last register check 2026-07-26. External ratings: WikiFX 7.7/10; Forex Peace Army 3.6/5; Google Play Store 3.7/5; Trustpilot 2.8/5.
Commercial disclosure. BrokerBazaar is independent and not owned by any broker. We may receive a referral fee if you open an account with HFM (HotForex) through our links; this never affects scores or verification. How we make money. Trading leveraged products carries a high risk of loss.