HFM (HotForex) Review
HotForex, founded in 2010 and rebranded to HFM in 2022, is a broker regulated by the FCA, CySEC, DFSA and FSCA (licence numbers unverified - see the regulation card below). It offers spreads from 0.0 pips on the Zero account, no minimum deposit with cent accounts available, 500+ instruments and leverage up to 1:1000 on MT4, MT5 and the HFM app, with negative-balance protection.
Regulated Broker
Founded 2010 · HF Markets
3.5M+ Live Accounts
Spreads from 0.0 pips
No Minimum Deposit
500+ Instruments
Trading Platforms
Up to 1:1000 Leverage
Account Protection
FCA Registration (unverified)
HFM (HotForex) at a Glance — Broker Profile & Stats
Who is HFM (HotForex)?
Quick answer: HotForex (rebranded HFM in 2022) is a multi-asset broker regulated by the FCA, CySEC, DFSA and FSCA, trading since 2010 with 3.5M+ live accounts. It offers five account types from a $0 Cent account to a raw-spread Zero account, 500+ instruments and MT4/MT5, making it a solid all-round choice.
Regulation & Safety
What Traders Say on Trustpilot
Markets & 500+ Instruments
Account Types & Spreads
Cent & Premium
Zero Spread
Pro
Pro Plus
Top HFM Alternatives
IC Markets
XM
Exness
Eightcap
Platforms & Tools
MetaTrader 4 & 5
HFM Trading App
Copy Trading
Tools & Education
Fees, Leverage & Trading Rules
Spreads & Commissions
Leverage
Trading Style Rules
Restricted Countries
Jurisdictions HFM Does Not Serve
Video Guides & Reviews
Watch Before You Trade with HFM
Pros and Cons of HFM (HotForex)
HFM Pricing & Account Plans
HFM offers five account types from a $0-minimum Cent account to a raw-spread Zero account. Choose by trading style and budget.
| Account | Spread | Commission | Min deposit | |
|---|---|---|---|---|
| Cent / Premium | from 1.4 | None | $0 | Open Account |
| Zero ★ | from 0.0 | per lot | $0 | Open Account |
| Pro | from 0.6 | None | $100 | Open Account |
| Pro Plus | tighter | None | $250 | Open Account |
The Zero account suits active traders wanting raw spreads, while the $0 Cent account is one of the most accessible entry points for beginners.
HFM vs IC Markets vs XM
How does HFM compare with two popular regulated alternatives?
| Feature | HFM | IC Markets | XM |
|---|---|---|---|
| Raw spread | from 0.0 | from 0.0 | from 0.6 |
| Min deposit | $0 | $200 | $5 |
| Regulation | FCA·CySEC·DFSA·FSCA | ASIC·CySEC | ASIC·CySEC·IFSC |
| Platforms | MT4·MT5·App | MT4·MT5·cTrader | MT4·MT5 |
| Scalping | Restricted | Allowed | Allowed |
| Trustpilot | 4.5/5 | 4.6/5 | 4.2/5 |
Verdict: HFM is a strong, well-regulated all-rounder with great copy trading and account variety. Aggressive scalpers should pick IC Markets; otherwise HFM holds its own with the best of them.
Compare further: IC Markets vs Tickmill and best XM alternatives.
Why Choose HFM (HotForex) as Your Broker?
HFM — formerly HotForex, rebranded in 2022 — is a large, well-established multi-asset broker from HF Markets Group. Trading since 2010, it has opened 3.5M+ live accounts and is regulated across multiple jurisdictions including the FCA, CySEC, DFSA and FSCA.
What stands out: a strong regulatory footprint, five account types (from a $0 Cent account to a raw-spread Zero account), 500+ instruments, the HFcopy copy-trading network, MT4/MT5 and the HFM app, plus a solid 4.5/5 Trustpilot score across nearly 3,000 reviews.
What to weigh: HFM restricts aggressive scalping and latency arbitrage, the headline 1:1000 leverage applies only to its offshore entity, and there are some slippage complaints. The FCA has also warned about a clone impersonating HFM — only use the official hfm.com.
Bottom line: HFM is a strong, well-rounded and well-regulated broker, especially good for copy traders and those wanting account variety. Pure scalpers should look to an ECN broker like IC Markets instead.
Frequently Asked Questions
Key questions about HFM (formerly HotForex) — the rebrand, regulation, accounts, fees and platforms.