Overview
HFM, which used to be called HotForex, is a forex and CFD broker that's been going since 2010. It suits MetaTrader users and beginners who want to start small. It runs several companies under different regulators: the FCA in the UK, CySEC in Cyprus, the DFSA in Dubai, the FSCA in South Africa, the CMA in Kenya, and the FSA in Seychelles and FSC in Mauritius for offshore clients. Your entity sets your rules, so check which one you're signing up with. It doesn't serve US clients.
Accounts and costs
The Cent and Premium accounts have no minimum deposit and no commission, with spreads from 1.4 pips. Cent balances are shown in cents, which is handy for testing a strategy with real money. Pro needs $100 and tightens spreads to around 0.5 to 0.6 pips, still commission-free. Zero gives raw spreads from 0.0 plus a commission per lot. Leverage is capped at 1:30 for UK and EU retail clients, while the offshore entities go up to 1:2000, and the InfinityX account has no cap at all. Treat that last one with a lot of care.
Platforms and markets
You trade on MT4, MT5, the HFM app or HFM WebTrader, which uses TradingView charts. There's no direct TradingView or cTrader trading. Markets include forex, metals, energies, indices, bonds and crypto, plus stocks and ETFs on MT5 only. Copy trading is built into the app.
Money in and out
HFM says it doesn't charge for deposits or withdrawals, though your bank or payment provider might. Options include bank transfer, cards, Skrill, Neteller, crypto and local methods. Card withdrawals go back to the card you used, and requests in before 10:00 server time are processed the same day.
Good
- Seven regulators including the FCA, CySEC and DFSA
- No minimum deposit on Cent and Premium accounts
- Cent account lets you trade tiny sizes with real money
- Built-in copy trading through the HFM app
- No HFM fees on deposits or withdrawals
Watch for
- No TradingView or cTrader trading, only MetaTrader and its own app
- Spreads on the commission-free accounts are wider than the cheapest brokers
- Offshore leverage up to 1:2000, or unlimited on InfinityX, is very risky
- Not available to US residents
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| Cent | None | Spreads from 1.4 pips, no commission, balances in cents | — |
| Premium | None | Spreads from 1.4 pips, no commission | 1:30 (retail, UK/EU); up to 1:2000 offshore |
| Pro | $100 | Spreads from 0.5 to 0.6 pips, no commission | Up to 1:2000 offshore |
| Zero | — | Raw spreads from 0.0 pips plus commission, from $3 per lot | Up to 1:2000 offshore |
| InfinityX | — | — | Unlimited (offshore entity only) |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer, Card, Skrill, Neteller, Crypto, Local methods
- Minimum deposit
- None
- Not available in
- US
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
HFM's reviews are mixed, and a lot of the praise reads as generic. Trustpilot shows a 4-star rating from about 2,900 reviews, and the page carries Trustpilot's notice that it has removed a number of fake reviews for this company. Sitejabber sits at 3.2 from about 110 reviews and SmartCustomer at 3.3 from about 105. Forex Peace Army has a long review page and complaint forum, but the bundle shows no current score for it.
What traders like
Fast deposits and withdrawals. Many Trustpilot and Myfxbook reviewers say money moves quickly, including through e-wallets and Binance Pay.
Account managers and support. Reviewers often name individual staff and praise live chat and personal account managers.
Cent accounts and copy trading. Several say the cent account let them test strategies cheaply, and others like copy trading inside the app.
Clean execution for some. An FPA reviewer reports no slippage across a run of scalping trades on EUR/USD.
Common complaints
Withdrawals delayed or rejected. The strongest pattern in low reviews on Trustpilot, FPA, Sitejabber and WikiFX: requests rejected or left unprocessed for weeks, and some accounts closed with funds still in them. Several FPA threads were later marked resolved.
Trades closed or disputed during news. Some reviewers say positions were closed or the portal froze while they were in profit.
Spreads. A few say the zero-spread account is not as cheap as rivals and that execution is slow for active trading.
Doubts about the reviews themselves. Some Trustpilot and Reddit posters point to the fake-review notice as a reason for caution.
Clone scams. A Reddit thread warns about a fake HFM platform used to take withdrawal fees from victims, which is not the broker itself.
Recently
September 2026: an FPA complaint describes two XAUUSD trades handled badly during the 4 September NFP release.
September to October 2026: ForexBrokers.com's review notes HFM's business terms explicitly target scalping, arbitrage and AI-assisted analysis.
Where this comes from
Trustpilot: the main review page.
Forex Peace Army: trader reviews and complaint threads.
Sitejabber: a smaller, mixed set of reviews.
SmartCustomer: another small review pool.
Myfxbook: trader reviews.
Reddit search: forex subreddit threads.
YouTube search: videos on withdrawal problems.
Verified reviews
Reviews from traders who've connected an account at HFM to Chartnaut, so you know they actually traded there. Opening soon.