HotForex Review

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Regulated: FCA · CySEC · DFSA · FSCA

Since 2010 · 3.5M+ accounts

Spreads from 0.0 pips

Zero account · Pro from 0.6

No Minimum Deposit

500+ instruments · Cent accounts

MT4 · MT5 · HFM App

Up to 1:1000* · copy trading

🏦 HFM (HotForex) at a Glance — Broker Profile & Stats

Who is HFM (HotForex)?

Founded: 2010 (HF Markets Group)
Rebrand: HotForex → HFM in 2022
Scale: 3.5M+ live accounts · 27+ languages
Markets: 500+ instruments
Platforms: MT4, MT5, HFM App
Why it matters: A large, long-running multi-asset broker — the HotForex name is now HFM, but it’s the same established company.

Regulation & Safety

FCA (UK, 801701) · CySEC (Cyprus)
DFSA (Dubai) · FSCA (South Africa)
CMA (Kenya) · FSA (Seychelles)
Segregated funds · negative-balance protection
⚠ Heads-up: The FCA has warned about a clone impersonating HFM. Only use the official hfm.com and verify licence numbers before depositing.

What Traders Say on Trustpilot

4.5 / 5
2,919 reviews
Praised for support & fast withdrawals
Tight spreads on the Zero account
Some complaints on slippage
Why it matters: A strong 4.5 across nearly 3,000 reviews — but read recent feedback on execution before scaling size.

Markets & 500+ Instruments

Forex, metals & energies
Indices & commodities
Stocks & ETFs CFDs
Bonds & crypto CFDs
Copy-trading ecosystem

💹 Account Types & Spreads

Cent & Premium

No minimum deposit
Spreads from 1.4 pips
No commission
Cent = micro-risk for beginners

Zero Spread

Spreads from 0.0 pips
Commission per lot
No minimum deposit
Swap-free flexibility
Why it matters: The Zero account is HFM’s sharpest pricing — best for active traders who want raw spreads.

Pro

Spreads from 0.6 pips
Min deposit: $100
No commission
Balanced cost model

Pro Plus

Tighter conditions
Min deposit: $250
No commission
For higher-balance traders

⚖️ Top HFM Alternatives

IC Markets ★★★★★

Raw from 0.0 · $7 round turn
Regulated: ASIC, CySEC
Deep ECN liquidity
Pick for: scalpers (HFM limits them)

XM ★★★★★

Low entry, huge range
Regulated: ASIC, CySEC, IFSC
Strong education
Pick for: beginners

Exness ★★★★½

High leverage + regulation
Regulated: FCA, CySEC, FSCA
Instant withdrawals
Pick for: high leverage

Eightcap ★★★★½

Raw from 0.0
Regulated: ASIC, FCA, CySEC
TradingView dealing
Pick for: TradingView traders

🖥️ Platforms & Tools

MetaTrader 4 & 5

Industry-standard MT4/MT5
EAs & automation
Desktop, web & mobile

HFM Trading App

Proprietary mobile app
Manage accounts & copy trading
Deposits & analytics in one place

Copy Trading

HFcopy social-trading system
Follow & copy strategy providers
Earn as a provider too
Why it matters: HFcopy is a mature copy-trading network — a real plus for hands-off traders.

Tools & Education

Autochartist & analysis
Webinars & guides
Economic calendar

💰 Fees, Leverage & Trading Rules

Spreads & Commissions

Zero account: from 0.0 + commission
Pro: from 0.6 pips, no commission
Cent/Premium: from 1.4 pips
No deposit fees

Leverage

Up to 1:1000 (Seychelles entity)
1:30 for EU/UK retail (FCA/ESMA)
Flexible by account & region
Why it matters: Headline 1:1000 applies to the offshore entity; FCA/EU clients are capped at 1:30.

Trading Style Rules

Copy trading via HFcopy
Negative-balance protection
Swap-free options
⚠ Heads-up: HFM restricts aggressive scalping and latency arbitrage — not ideal if that’s your strategy.

🚫 Restricted Countries

Jurisdictions HFM Does Not Serve

HFM does not onboard clients from the United States and various restricted or sanctioned jurisdictions, which typically include:
USACanadaBelgiumIranNorth KoreaSyriaSudan
Why it matters: Availability varies by HFM entity (FCA, CySEC, FSCA, Seychelles). Confirm your country and use only the official hfm.com.

🎥 Video Guides & Reviews

Watch Before You Trade with HFM

▶HFM Review 2025 — World Leader in Financial Trading▶HFM Review — Risky or Reliable?▶HFM (HF Markets) — Legit or Scam?

hotforex review

Pros and Cons of HFM (HotForex)

Pros
✓ Multi-regulated (FCA, CySEC, DFSA, FSCA)
✓ Established since 2010 · 3.5M+ accounts
✓ No minimum on most accounts
✓ Zero account with 0.0 spreads
✓ HFcopy copy-trading network
✓ MT4, MT5 & HFM App
✓ 4.5/5 on Trustpilot (2,919 reviews)
✓ Negative-balance protection
Cons
✗ Restricts scalping/arbitrage strategies
✗ Some slippage complaints
✗ High 1:1000 leverage only offshore
✗ Cent/Premium spreads wide (1.4 pips)
✗ No US clients
✗ FCA clone warning — verify the site

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.

AccountSpreadCommissionMin deposit
Cent / Premiumfrom 1.4None$0Open Account
Zero ★from 0.0per lot$0Open Account
Profrom 0.6None$100Open Account
Pro PlustighterNone$250Open 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?

FeatureHFMIC MarketsXM
Raw spreadfrom 0.0from 0.0from 0.6
Min deposit$0$200$5
RegulationFCA·CySEC·DFSA·FSCAASIC·CySECASIC·CySEC·IFSC
PlatformsMT4·MT5·AppMT4·MT5·cTraderMT4·MT5
ScalpingRestrictedAllowedAllowed
Trustpilot4.5/54.6/54.2/5

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.

Why Choose HFM (HotForex) as Your Broker?

★ Trustpilot 4.5 · FCA/CySEC
No min · Zero spreads from 0.0
Open Account →
HFM (HotForex)
Multi-regulated since 2010
★ 4.5 / 5 · 2,919 reviews
No min · Zero from 0.0
FCA · CySEC · DFSA · FSCA
Open Account →

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.

Yes. HotForex rebranded to HFM in 2022. It is the same company — HF Markets Group — which has operated since 2010.
Yes. HFM is regulated by the FCA (UK), CySEC (Cyprus), DFSA (Dubai), FSCA (South Africa), CMA (Kenya) and FSA (Seychelles). Note the FCA has warned about a clone, so use only the official hfm.com.
Yes — HFM is a multi-regulated broker with 3.5M+ accounts, segregated funds and negative-balance protection, scoring 4.5/5 on Trustpilot. Some users report slippage, so test execution before scaling.
There is no minimum on the Cent, Premium and Zero accounts. The Pro account needs $100 and Pro Plus needs $250.
Zero account from 0.0 pips plus commission, Pro from 0.6 pips, and Cent/Premium from 1.4 pips.
MetaTrader 4, MetaTrader 5 and the proprietary HFM trading app, plus the HFcopy copy-trading system.
Up to 1:1000 for international (Seychelles) clients; EU/UK retail clients are capped at 1:30 under FCA/ESMA rules.
500+ instruments including forex, metals, energies, indices, commodities, bonds, ETFs, stocks and crypto CFDs.
HFM restricts aggressive scalping and latency arbitrage. If that is your main strategy, an ECN broker like IC Markets is a better fit.
No. HFM does not accept clients from the United States or certain restricted jurisdictions.
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