Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
HFM Pros & Cons
- favorable trading conditions and low spreads - from 0 pips;
- controlled by several regulators;
- no commissions for account replenishment and bank transfers.
- Withdrawal terms do not always correspond to those indicated;
- Few account currencies;
- The choice of electronic payment systems is rather modest;
- During registration, conditions for other account types are not visible;
- Customer support is closed on weekends.
HFM is a broker owned by the HF Markets Group, offers a wide variety of account types, and has the widest selection of trading assets and high-quality software. HFM also has favorable trading conditions and instant execution of orders. Plus, a solid list of tools and services allow everyone to choose the best option. The broker's reliability is confirmed by the license of several regulators. The company's work experience in the financial, brokerage and other services market is over 10 years. Within that time, HFM has received 35 prestigious awards. For trading, MetaTrader 4 and MetaTrader 5 trading terminals are used.
TU Expert Verdict
HFM is a reliable and well-established choice. I’ve reviewed its features, tested its services, and found that traders generally report positive results. It offers stable performance, dependable execution, and overall solid quality for everyday trading.
Top-5 Brokers Traders Prefer
HFM User Reviews
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5-star
27%
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4-star
26%
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3-star
28%
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2-star
12%
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1-star
7%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria8 /10The trading and non-trading commissions of HFM have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of HFM with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, HFM’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
HFM Standard spreads HFM OANDA FOREX.com EUR/USD min, pips 0.3 0.1 0.7 EUR/USD max, pips 1.4 0.5 1.2 GPB/USD min, pips 0.3 0.1 0.9 GPB/USD max, pips 1.6 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
HFM RAW/ECN spreads HFM OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3 3.5 5 EUR/USD avg spread 0.2 0.15 0.2 GBP/USD avg spread 0.4 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with HFM. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
HFM Non-Trading Fees HFM OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is HFM Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria10 /10HFM has a safety score of 10/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Regulated in the UK
- Track record over 16 years
- Strict requirements and extensive documentation to open an account
HFM Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level FCA UK
Full Name Financial Conduct Authority Country of regulation United Kingdom Investor Protection Fund Up to £85,000 Regulation Level Tier-1 CySec
Full Name Cyprus Securities and Exchange Commission Country of regulation Cyprus Investor Protection Fund Up to €20,000 Regulation Level Tier-1
DFSA Full Name Dubai Financial Services Authority Country of regulation Dubai Investor Protection Fund No specific fund Regulation Level Tier-2 FSCA SA
Full Name Financial Sector Conduct Authority of South Africa Country of regulation South Africa Investor Protection Fund No specific fund Regulation Level Tier-2 FSA (Seychelles)
Full Name Financial Services Authority of Seychelles Country of regulation Seychelles Investor Protection Fund No specific fund Regulation Level Tier-3 Abbreviation CMA (Kenya) Full Name The Capital Markets Authority Country of regulation Kenya Investor Protection Fund KES 50,000 Regulation Level Tier-2 HFM Security Factors Foundation date 2010 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.9.6 /10HFM offers the following account options: Demo, Standard, ECN/Raw spread, Cent, Swap Free, VIP.
HFM covers the core account types, making it convenient for traders with different preferences and strategies.
- Low minimum deposit
- Exclusive VIP account with enhanced trading conditions
- Standard account with balanced trading conditions
- Micro lots are not available
HFM account types vs top competitors HFM Plus500 OANDA Standard YesYesYesECN/Raw spread YesNoYesDemo YesYesYesCent YesNoNoMicro NoNoYesSwap Free YesNoYesVIP YesNoNoManaged NoNoNoHFM accounts trading conditions
HFM offers 6 types of live accounts, aside from the swap-free Islamic account and demo account. The minimum initial deposit is only USD 5. A PAMM account is also provided for investors. Also, for those who wish to focus on social (mirror) trading, the HFM platform offers HFcopy.
HFM account types are summarized below:
Account Type Description Cent The minimum deposit is $0, the maximum leverage is 1:2000. The maximum number of simultaneously open orders is 150; Premium The minimum deposit is $0. The maximum leverage is 1:2000. Limit of open orders - 500; Zero The minimum deposit is USD 0. Leverage - 1:2000. Limit of simultaneously open positions - 500; Pro Deposit from $100. The leverage is a maximum of 1:2000. Limit of simultaneously opened deals - 500; Regardless of the selected account type, a floating spread is provided, the size of which starts from 1 point. An exception is the Zero Spread account, in which the starting spread value is equal to zero.
Before opening a real trading account, novice traders can learn the features of trading via a free demo account.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6.5 /10HFM received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
HFM provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bank card deposits and withdrawals
- USDT (Tether) supported
- No withdrawal fee
- No deposit fee
- Limited deposit and withdrawal flexibility, leading to higher costs
- PayPal not supported
- Only major base currencies available
What are HFM deposit and withdrawal options?
HFM provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, BTC, USDT.
HFM Deposit and Withdrawal Methods vs Competitors HFM Plus500 OANDA Bank Wire YesYesYesBank card YesYesYesPayPal NoYesYesWise NoNoNoBTC YesNoYesWhat are HFM base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. HFM supports the following base account currencies: USD, EUR, JPY, NGN.
What are HFM's minimum deposit and withdrawal amounts?
The minimum deposit on HFM is $0, while the minimum withdrawal amount is $5. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact HFM’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.8 /10HFM offers a limited selection of trading assets compared to the market average. The platform supports 500 assets in total, including 50 Forex pairs.
- Copy trading platform
- 500 assets for trading
- Commodity futures are available
- Regional restrictions are possible
Supported markets vs top competitors
We have compared the range of assets and markets supported by HFM with its competitors, making it easier for you to find the perfect fit.
HFM Plus500 OANDA Currency pairs 50 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 500 2800 129 Stocks YesYesYesCommodity futures YesYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesYesStock indices YesYesYesOptions NoYesNoInvestment options
We also explored the trading assets and products HFM offers for beginner traders and investors who prefer not to engage in active trading.
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Trading Account Opening
Score:We evaluated Trading Account Opening at HFM by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10We successfully registered an account with HFM in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at HFM is $0. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Registration process may take longer than expected
- Account approval may require extra time depending on the documentation.
HFM account opening HFM Plus500 OANDA Online Registration YesYesYesMinimum deposit $0 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 20 10 KYC time (days) 2 3 3 Is HFM available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To make it easier for you to open a personal account on the brokerage company's website, we have prepared the following instructions:
On the main page of the website HFM, in the top panel of the website, click on the "Open a real account" button to open a real account or use the Demo button next to it to open a demo account.
To register, you must fill in all the fields in the questionnaire with the requested information, such as: client type, last name, first name, and date of birth, country, email address, and phone number.
After filling in all the fields with the required information, you will need to confirm your registration by clicking on the appropriate button.
The following functions are available in the personal account HFM:
- Account management, including replenishment and withdrawal of funds..
- Account settings: choice of trading platform and financial instrument..
There are also many other useful functions and features, such as:
- analysis tools;
- transaction history;
- educational information.
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Trading Platforms & Tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria9 /10HFM received a score of 9/10, indicating a strong offering in terms of trading platforms and tools. The broker provides broad access to popular platforms and supports a variety of features designed to enhance both manual and automated trading.
- Proprietary platform with unique features
- Trading bots (EAs) allowed
- One-click trading
- Free VPS for uninterrupted trading
- No TradingView integration
- No access to cTrader and its advanced tools.
- No access to API
Supported trading platforms
HFM supports the following trading platforms: MT4, MT5, Proprietary platform, WebTrader. This selection covers the basic needs of most retail traders. We also compared HFM’s platform availability with that of top competitors to assess its relative market position.
HFM Plus500 OANDA MT4 YesNoYesMT5 YesNoYescTrader NoNoNoTradingView NoYesYesProprietary platform YesYesYesNinjaTrader NoNoNoWebTrader YesYesYesKey HFM’s trading platform features
We also evaluated whether HFM offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features 2FA YesAlerts YesTrading bots (EAs) YesOne-click trading YesScalping YesSupported indicators 130 Tradable assets 500 Additional trading tools
HFM offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
HFM trading tools vs competitors HFM Plus500 OANDA Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making. NoNoNoAPI NoNoYesFree VPS YesNoYesStrategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills. NoNoYesAutochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels. YesNoYes -
Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria3 /10HFM supports mobile trading, offering dedicated apps for both iOS and Android. HFM received 3/10 in this section, which suggests limited user interest or weak performance of the apps.
- Indicators supported
- Mobile alerts supported
- Weak user feedback on Android
- Weak user feedback on iOS
We compared HFM with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
HFM Plus500 OANDA Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 1,000,000 10,000,000 1,000,000 App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 0 4.7 4.8 Google Play score 0 4.4 3.4 Mob. 2FA NoYesYesMob. Indicators YesYesYesMob. Alerts YesYesYes -
Customer Support
Score:We evaluated Customer Support at HFM by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria9.2 /10HFM demonstrates a high level of customer support. Assistance is available through multiple channels, and most requests are handled quickly.
During TU testing, managers responded promptly, communication was clear and structured, and support continued until the issue was fully resolved. Overall, HFM shows reliable service and active engagement with clients.
InformationHFM's support service is ready to assist clients around the clock on weekdays.
- 24\5 support
- Quickly answers any questions
- Multiple languages
- Not available on weekends
There are several ways to contact support:
- by the phone number indicated on the website;
- by email; and
- in online chat.
Customer support is also available via the company's website and from the user account.
Contacts Foundation date 2010 Registration address Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines. Regulation FCA, DFSA, CySec, FSCA, FSA, CMA Official site https://www.hfm.com/ Contacts support@hfm.com +442030978571
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FAQs
How is HFM regulated and what safety measures are highlighted in the review?
HFM is regulated by several authorities, including Tier-1 regulators such as the FCA in the UK and CySEC in Cyprus, and holds additional licenses from DFSA, FSCA South Africa, FSA Seychelles, and the CMA in Kenya. The review notes a safety score of 10/10, mentions negative balance protection, mandatory KYC, and participation in investor compensation schemes with coverage up to £85,000 in the UK and up to €20,000 in Cyprus.
What does the review say about HFM trading commissions, spreads, and non-trading fees?
The review rates HFM’s overall fee level as low, with a commissions and fees score of 8/10. It highlights tight floating spreads on Standard accounts (for example, EUR/USD typically between 0.3 and 1.4 pips), RAW/ECN accounts with a $3 per lot commission and low average spreads, and notes that there are no deposit, withdrawal, or inactivity fees specified for HFM.
What do user reviews and feedback indicate about overall satisfaction with HFM?
HFM has a user satisfaction score of 7.1/10 based on 137 reviews, with 27% 5-star, 26% 4-star, 28% 3-star, 12% 2-star, and 7% 1-star ratings. According to user reviews, overall sentiment is mixed rather than strongly positive or negative.
How is the HFM account opening process described in reviews and platform feedback?
The review states that opening an account with HFM is fully online, took 20 minutes in testing, and that KYC verification was completed within 2 business days, with a minimum deposit of $0. It also notes that while the onboarding is described as accessible and relatively hassle-free, account approval and registration may sometimes take longer depending on the documentation provided.
What feedback is provided about HFM mobile apps and their key features?
The review notes that HFM offers dedicated mobile apps for iOS and Android with support for indicators and trading alerts, but assigns a mobile apps score of 3/10, suggesting limited user interest or weaker performance. It also mentions that mobile two-factor authentication is not supported and that user feedback on iOS is described as weak, while specific app store ratings for HFM are not provided in this section.
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