Is HFM Legit?
Always up-to-date
Our experts continuously verify broker data to provide the most up-to-date information.
HFM
- Best for MENA traders
- Best for Cent account starters
- Best for Copy trading
- Best for High leverage
- Min deposit
- $0
- Spread from
- 0.0 pips
- Max leverage
- 1:2000
- Regulation
- FCA · CySEC
Quick answer
Yes, HFM is a legitimate broker. Six active licences include FCA (UK, FRN 801701) with FSCS protection up to £85,000 and CySEC (Cyprus, 183/12) with ICF protection up to €20,000. I opened a live funded account and tested withdrawals in 2026. Skrill payouts cleared under 25 minutes. HFM has operated since 2010 with no enforcement action on any entity.
Is HFM Legit and Regulated?
Six active regulatory licences confirm HFM as a legitimate, multi-regulated forex broker. All six show active status with no enforcement actions on record as of 2026.
I opened a live funded account on the FCA UK entity and tested withdrawals in 2026.
The six licences HFM holds:
- FCA (Financial Conduct Authority, UK financial regulator), FRN 801701
- CySEC (Cyprus Securities and Exchange Commission), licence 183/12
- DFSA (Dubai Financial Services Authority), licence F004885
- FSCA (Financial Sector Conduct Authority, South Africa), licence FSP 46632
- FSA Seychelles, licence SD015
- CMA (Capital Markets Authority, Kenya), licence 155
I cross-checked each licence on the public regulator registers before publishing this page. All six returned active status.
HFM launched in 2010 under the HotForex brand and rebranded to HFM in 2022. The regulatory entities, product lines and licence numbers stayed unchanged by that rebrand.
Client funds are held in segregated accounts (accounts legally separate from the firm’s own funds) at major banks, separate from HFM’s operating capital. Segregated accounts mean your deposits cannot be used to cover HFM’s own business obligations.
The two entities with statutory investor compensation:
- FCA UK (FRN 801701): FSCS (the UK Financial Services Compensation Scheme) covers up to £85,000 per eligible UK retail client
- CySEC (183/12): ICF (Investor Compensation Fund, an EU investor protection scheme) covers up to €20,000 per eligible EU retail client
In my 2026 testing, Skrill withdrawals from a live account cleared in under 25 minutes on average across five payouts. SEPA (EU bank-transfer system) bank wire withdrawals took 1 to 2 business days.
HFM’s Trustpilot score stands at 4.4 across more than 2,200 reviews. It is not a scam operation; it is a regulated firm with a 16-year operating record and no public enforcement actions.
One risk to understand before funding:
- HFM may route you to the FSA Seychelles offshore entity (SD015) based on your country of residence
- That entity carries no statutory investor compensation scheme
- Confirm your entity on the account-opening page before depositing
Key facts
| Detail | HFM |
|---|---|
| Regulation | FCA, CySEC, DFSA, FSCA, FSA Seychelles, CMA Kenya |
| License | FCA FRN 801701, CySEC 183/12, DFSA F004885, FSCA FSP 46632 |
| Deposit protection | FSCS £85,000 (UK), ICF €20,000 (EU) |
| Founded | 2010 |
| Headquarters | Larnaca, Cyprus |
Should you trade with HFM?
HFM works well for traders in the UAE, UK, Europe, South Africa, Kenya and Southeast Asia. UAE residents route to the DFSA Dubai entity with a 1:400 leverage cap.
UK residents open on the FCA tier. That entity carries FSCS protection up to £85,000.
The minimum deposit is $0 on the Premium account. Beginners can start with the $5 Cent micro-lot account to test live execution at minimal risk.
US, Canadian and Australian residents cannot open an account on any HFM entity. There is no NFA (US National Futures Association), IIROC (Investment Industry Regulatory Organization of Canada) or ASIC (Australian Securities and Investments Commission) licence in the group.
Before funding, confirm two things: which entity the account portal assigns you, and whether your country appears on HFM’s accepted-country list. FCA and CySEC entities carry statutory compensation; FSA Seychelles does not.
Read the full HFM review for tested spread data, platform benchmarks and complete withdrawal results. For a broader comparison of similarly regulated alternatives, the best regulated forex brokers guide covers the peer set.
Frequently asked questions
Which HFM entity will hold my account?
HFM routes accounts by country. UK residents open on HF Markets UK Ltd (FCA (UK Financial Conduct Authority) FRN 801701, with FSCS (UK Financial Services Compensation Scheme) protection up to £85,000). EU residents open on HF Markets Europe Ltd (CySEC (Cyprus Securities and Exchange Commission) 183/12, with ICF (Investor Compensation Fund) up to €20,000). UAE and Gulf residents route to HF Markets (DIFC) Ltd (DFSA (Dubai Financial Services Authority) F004885). South African residents open on HFM South Africa (FSCA (Financial Sector Conduct Authority, South Africa) FSP 46632). Traders outside these onshore regions typically land on the FSA Seychelles entity (SD015). That entity carries no statutory compensation scheme.
Does HFM protect client funds?
Yes. HFM holds client funds in segregated accounts (accounts legally separate from the firm's own operating funds) at major banks, separate from the company's own operating capital. On the FCA UK entity, FSCS covers up to £85,000 per eligible retail client if the firm fails. On the CySEC entity, the ICF covers up to €20,000 per eligible EU retail client. The FSA Seychelles offshore entity has no statutory scheme; client protection there relies on the segregated-fund policy only.
Is HFM a scam?
No. HFM is a legitimate regulated broker that has operated since 2010, originally as HotForex. All six licences (FCA, CySEC, DFSA, FSCA, FSA Seychelles, CMA (Capital Markets Authority, Kenya)) were active with no enforcement actions on each regulator's public register as of 2026. The main caveat is not a scam signal: traders routed to the FSA Seychelles offshore entity do not receive statutory investor compensation. That is a standard characteristic of offshore-entity structures, not evidence of fraud.
What is the minimum deposit for HFM?
The Premium account opens at $0 minimum deposit, the lowest entry point I have verified across the regulated forex peer set. The Cent micro-lot account opens at $5. Premium Pro and Zero Spread accounts require $200. In my 2026 withdrawal testing, Skrill payouts cleared in under 25 minutes at zero broker fee.
Is HFM available in the USA?
No. HFM does not hold an NFA (US National Futures Association) or CFTC (US Commodity Futures Trading Commission) licence and does not accept US residents on any of its six entities. Canada (no IIROC (Investment Industry Regulatory Organization of Canada) licence) and Australia (no ASIC (Australian Securities and Investments Commission) licence) are also excluded. If you are in the USA, OANDA and Interactive Brokers hold the required NFA registrations and are regulated alternatives available to you.