Fresh HFM (HF Markets) review- regulations, platforms, and traders ratings.

3.744 • 556 REVIEWS
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Updated: May 20, 2024

4 star review by Hhduy, Viet Nam

Found HFM broker recently in top 100 financial companies and decided to give a try to it. First thing to notice is excellent platform with little to no slippage during high volatility. Tried scalping +hedging on EUR/USD pair with very tight SL and loose TP(3-6 vs 15-20 pips), mt4 logs show very accurate execution, absolutely no slippage for 22 closed orders. Impressive.

ToS allows almost every trading strategy, excepting arbitrage, of course. No platform lags have been noticed so far. Fast payment and multiple account options but only a disadvantage that you have to wait 5-10 minutes for live chat support. All others are good from my perspective.

What is HFM (HF Markets)?

HFM (HF Markets)is CFD broker founded in 2010 as Hot Forex and currently regulated by the DFSA, FSCA, CMA, FCA, CySEC, and others. It offers 50+ currency pairs, cryptocurrencies, and CFD access to over 3,000 securities including precious metals, commodities, stocks, bonds, and stock indexes.

On top of popular MT4 and MT5 trading platforms by metatrader, HF Markets offers its proprietary mobile HFM App. Recently updated app now allows traders to access their accounts and trade CFDs on more than 1200 assets straight on the app. offers a copy-trading platform HF Copy. Traders also have access to client sentiment data, in-house produced market analytics, and other free educational materials including live webinars, training videos, books, and articles.

Please read HFM (HF Markets) Reviews below and share live trading experiences with this broker.

Part of HF Markets Group. Other websites include

HFM's representative requests that anyone having issues please include the account number in the review.  This should result in many issues being addressed more quickly.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 2000:1
Minimum to Open Live: $1
Established: 2010
Address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, Saint Vincent And Grenadines
Contact:, +44-2033185971
Regional offices:
Regulators: CySEC #183/12, CMA (Kenya) #155, FSC Mauritius #C110008214 , SVGFSA #22747 IBC 2015, FSA-S #SD015, FSCA #46632, DFSA #F004885, FCA #801701
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (50+)
Cryptocurrencies: (40+) Bitcoin, Litecoin, Ethereum
CFD: (95+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Bond Indexes, Oil, Other Commodities, Futures, ETF

Trading Conditions

Hedge: ✅ Yes
EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

PAMM: ✅ Yes
Copy Trading: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, PayRedeem, Skrill, UnionPay, WebMoney
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, BitPay, FasaPay, Neteller, PayRedeem, Skrill
* Please check broker website for more information
3.744 • 556 REVIEWS

HFM (HF Markets) Most Helpful Customer Reviews

Ngoc Bao
Ho Chi Minh, Viet Nam,
Jan 5, 2021,

Good PAMM broker

Service use: Other Length of use: over 1 Year
I have been trading with HFM since 2018. After 2 years, I decided to switch to PAMM because I don't have time to keep watching charts. HotForex PAMM is easy to use and I don't need to ask CS for any guidance. I picked some good PAMM and invested the minimal amount ($250-500). There were drawdowns but overall, I am making steady profit with HotForex PAMM. Recommended!
pahang, Malaysia,
Jul 28, 2021,
Registered user

Willing to hear client's voice

Service use: Live Length of use: 0-3 Months
Previously had issue with trades where there is a huge gap between current price and executed opening price. After file a report to them, staff from HFM called me to figure out the issues that I'm facing and were willing to give a good solution. Overall not bad, recommended.

Jul 23, 2021 - 1 Star When I place a trade sell somehow the entry place is like 20 pips below the current market place, making me lose 20pips instantly.
At times when I see I'm having profit and I chose to close my trade, the closing price is hell so far away from the actual current trading price, ends up to be a losing trade. Hello?!?!?! Are you serious, it's a winning trade but when I click close it turned out to be negative trade. No way this kind of broker is regulated, they are manipulating your trade in any ways they want just to rob your money from you!
1 trader has found this review helpful
Jakarta, Indonesia,
Apr 4, 2022,
Registered user

My stranded ETH coin deposit has returned, now I'm satisfied

Service use: Live Length of use: 0-3 Months
This following my previous review for HFM. After the problem with my deposit with ETH coin, on 4-4-2022 their local officer contacted me and promised on working to returned my failed deposit. As it turned out, my deposit did returned to my ETH wallet in just under 24 hours time. Well, this is what a great broker should do because trust is the the most important thing in this business. Although they should have done it sooner, but better late than never. Keep up the good work. Now I'm satisfied and happy. Thank you.

Mar 30, 2022 - 1 Star I regret my decision to sign up to hotforex broker. I registered live account on hotforex on 24-2-2022. Then I tried to make a deposit using crypto currency ETH on the same day with equivalent amount around 200 USD at that time. After waited for a day my deposit never came to my wallet, so I emailed them. They said they will check it out to their external payment providers. After gave all the necessary data I waited. But the result I got on 30-3-2022 is a disappointing one, they said the crypto transaction that i made is not related to them. Too bad i didn't screenshot all the transaction I made, because I trusted them. Feel so angry and helpless.

Reply by HotForex Support submitted Apr 4, 2022 Dear gd1945,

We are sorry to hear you are experiencing difficulties, and thank you for bringing this up to our attention.

You will be contacted shortly.

Kind Regards
HF Team
1 trader has found this review helpful
elangakurichi, India,
May 4, 2021,
Registered user

Hotforex took my fund

Service use: Live Length of use: 0-3 Months
Today i deposit fund 100 usd via Perfect money.. but fund not loaded my account.. i live chat person.. he asked proof my account.. I send it two times.. but fund not loaded my account.. and no more action.. hotforex took my fund..Beware of hotforex..

My HF ID 21061
8 traders have found this review helpful
Den Sinas
Batangas, Philippines,
Feb 2, 2021,


Service use: Live Length of use: over 1 Year
its a retail trader friendly if i may say, good spreads on eurusd and gbp pairs. good number of pairs to choose from, deposit and withdrawals are easy, havent had any trouble in my 1 year trading live with hotforex, I made a good sum on btcusd as of late and was able to withdraw with no problems, its a good start for 2021.
1 trader has found this review helpful

Recent User Reviews of HFM (HF Markets)

Singapore, Singapore,
Apr 13, 2024,
Registered user

Dishonest broker

Service use: Live Length of use: 0-3 Months
I have requested to withdraw an amount of about 480usd on 2 occasions and did not request a currency change to my local currency and only received 478usd in my local currency. They did not state that a currency change is going to be made or that there are any withdrawal fees while I am withdrawing. I tried to contact "live" support and this issue is pending at the moment
Reply by HFM Support submitted Apr 15, 2024:
Dear Client,

Thank you for bringing your concerns to our attention. We are committed to resolving them promptly and thoroughly. To assist you more efficiently, we kindly request that you provide the following information associated with your HF account:

• Your myHF account number or your HF live trading account number
• Your registered email address

Please send these details through email or connect with us via live chat at your earliest convenience. We look forward to your response and are here to assist you every step of the way.

Warm regards,
HF Team
Gujar Khan , Pakistan,
Feb 11, 2024,
Registered user

Three years of consecutive trading with this broker is profitable..

Service use: Live Length of use: over 1 Year
Based on my considerable trading time of almost three years spent on this broker's trading platform I must say that they have impressive trade execution. They also have decent leverage too. I also suggest them allowing crypto trading on their platform because crypto assets can be more fruitful than any other trading financial assets. There other services like auto chartist etc are also noteworthy.
Reply by HFM Support submitted Feb 12, 2024:
Dear Client,

Thank you for your feedback.

We are glad to hear you are enjoying our services.

Kind Regards
HF Team
Ukraine, Ukraine,
Jan 30, 2024,
Registered user

Warning: HotForex (HF Markets) is no longer paying! Hurry up to WD

Service use: Live Length of use: 0-3 Months
HF Markets are unprofessional who will block you immediately as soon as you earn money there.

Everything I`m writing now is confirmed by screenshots: see below*.

On October 26, 2023, I registered an account with the Hotforex company, verification took them 2 days, the KYC department asked additional questions, one of them was about VPS: I explained why I use VPS and additionally clarified whether the use of VPS is not prohibited at the HFM company, in response my account has been verified.
In Hotforex I topped up my account 4 times for a total amount of 35,800 USD; I managed to open 81 trades, with a total trading volume of 423.6 lots, 66 trades were profitable, 15 trades were loss.

I was trading more than 2 months, during this time I requested additional trading accounts which were opened manually by HFM after they has checked me and my trades once again. Nothing suspicious was ever revealed. The company was completely satisfied with me as a client and my trading strategy.
My trading was absolutely native: a number of my trades were closed in the red, and many of my trades were in a drawdown, sometimes quite large, which could lead to a stopout easily and the loss of all funds for account. I don't think such trading can ever be called “break-even”.

Most unprofitable trade: -6,277.5 USD
Maximum profit per transaction 10,759.47 USD
There were only 2 positions less than 27 minutes (only one of them less than a minute).
The longest position is 12 hours 10 minutes.

It is important to note that until the moment I decided to withdraw all the money from HFM, since I no longer liked the quality of execution, before that HFM always processed all withdrawals on time: total I WD 7 times for a total amount of 54,995 USD. Every time I made a withdrawal, I went through checks and the company was happy with everything.
On January 5, when I submitted 4 withdrawal requests for a total amount of 31,117 USD (confirmation in the screenshots*: HotForex has a limit on the size of one request, so I have to create several), I received an email that the Company has canceled any profits - refer to section 14.2 of the Terms of Business. “Please be informed that HF Markets (SV) Ltd (herein “the Company”) has decided to terminate its business relationship with you in accordance with Clause 36.2. of the Account Opening” (full text is in screenshot*).

Thus, the HFX company decided to take 31,117 USD that was declared for withdrawal PLUS 18,380 USD that remained in my account. In total, the Company took 49,497 USD from me, sending me general clauses of its regulations, without providing any explanation. Moreover, they dared to block my access to my personal area (!!!!) so that in principle I would not have any access to information that I have the right to use by law. This is completely unacceptable and violates all human rights.

In response, I sent them an email explaining that they were wrong: see screenshot*.

Well, then they simply accused me of using (attention!) VPS, which suddenly became prohibited (remember that they drew attention to the fact that I specifically asked whether the use of VPS was allowed), see screenshot*
And they began to threaten me that if it became public, they would file a complaint against me with the police.

I consider it my inviolable right to fight for my rights, as well as for my means. There was no violation of the agreement, nor was there any “break-even” trading on my part. This is confirmed by the statement. The use of VPS is explained by the fact that different copies of virtual machines were used. And this is not prohibited by company regulations. I can work on the virtual machine that is convenient for me at a particular time. Low ping to the company’s trading server also cannot be a violation, since the developer of the MetaTrader4 trading platform, MetaQuotes, offers VPS services with low ping. Please note that the MT4 trade server logs show half the client’s ping to the trade server (one-way delay). That is, the actual ping of my terminal to the HotForex trading server is twice as large as what they sent. What third-party trading solutions are we talking about in this case? On the contrary, such a company statement about an anomaly indicates the incompetence of employees and is more like a response out of despair.

I demand that the company return my profits immediately! I advise all clients and partners to find a more reliable and larger broker! Anyone who earns money should immediately withdraw and not store amounts exceeding 200 USD in HotForex.

This company knows nothing about risk and money management and at any moment will shift all its risks and mistakes onto you, generously telling you to be grateful that you withdrew at least something! And if you dare to open your mouth, you will have to deal with the police.

I can’t believe that this is happening in independent Europe in the 21st century. Run away from this company NOW, it is not worthy of your attention.

* - please all screenshots in this Thread
5 traders have found this review helpful
Lagos, Nigeria,
Jan 17, 2024,
Registered user


Service use: Live Length of use: 0-3 Months
This is a follow-up review update on my complaints.
I reported an issue yesterday that my $49 deposit was not reflecting and HFM not refunding. I would like to state plainly here that My $49 deposit issue has been resolved! It was an honest oversight on my end. An email regarding this was sent to me since yesterday. This shows that the HFM rule of "Only you can access your fund" is very strict. It is proof that with HFM, Fund security is 100%.
Again, thanks for the timely response and resolve.

Best Regards,

Jan 16, 2024 - 1 Star I chatted up support to guide me and process my $49 Crypto deposit to which he agreed. He followed me every step till I initiated the transaction from my Binance to B2B and was confirmed. I waited for it to reflect since yesterday to no avail. My account manager asked me to write support and send them all screenshots proof as requested. The trx screenshot and the Trx Hash ID in written form were sent and attached to the emails. I even had to send them my chats with the support that induced me to initiate the trx. After all these, they responded
"Please note that as per the external payment provider, the screenshot of the deposit made does not belong to your myHF wallet and was funded to the according account."
They're making the whole thing complicated, frustrating, and difficult for me even after I've shown them several proofs as requested.
Please help Resolve or Refund to sender's Usdt wallet I need to trade with my fund.
Reply by HFM Support submitted Jan 19, 2024:
Dear Client,

Thank you for taking the time to provide us with your feedback. Customer satisfaction is our priority.

We are thrilled that we were able to resolve the matter with you.

Should you need any further assistance, please do not hesitate to contact us.

Kind Regards
HF Team
Can Tho, Viet Nam,
Jan 5, 2024,
Registered user

Reliable broker with multiple trading services

Service use: Live Length of use: over 1 Year
Few years ago, I started trading as a side hustle after attending HFM webinar in a near city. I have tried most of services from classic trading to PAMM and Copy trading. This broker is offering quite extensive services for most trader's need. However, I recommend you to stick to one. I lost pretty much with PAMM and I am satisfied with HFcopy since I don't have much time to trading. Regarding payment, it's instant for depositing in most methods, for withdrawals, it could take up to 24 hours for e-wallets as Skrill, Neteller but this broker supports local bank transfer that I find it quite helpful, cost lesser and time saving. I consider a good and reputable forex broker in the industry.
Reply by HFM Support submitted Jan 8, 2024:
Dear Client,

Thank you for your feedback.

We are glad to hear you are enjoying our services.

Kind Regards
HF Team

Frequently Asked Questions

Is HFM legit?

The the best way to answer if HFM a legit broker is to read the unbiased traders reviews on ForexPeaceArmy:

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we recommend that you check recent HFM community discussions:

What is the minimum deposit for HFM?

To activate a live account on HFM (formerly HotForex), the minimum initial deposit is now $0 for several account types.  The FPA does not consider a live account to truly be live until at least $1 has been deposited.

Other HFM account minimums vary by type.  Please check HFM's website for details.

Is HFM regulated?

HFM is registered with the regulators in a number of countries. These include:
  • CYSEC in Cyprus
  • the CMA of Kenya
  • the FSC of Mauritius
  • the Seychelles FSA
  • the FSCA of South Africa
  • the DFSA of the UAE
  • and the UK FCA
HFM is also registered with the SVGFSA.

What is HFM?

HFM is a forex and commodities trading broker.

HFM offers a wide range of currency pairs along with cryptocurrencies, stock indexes, precious metals, and other commodities.

How do I withdraw money from HFM?

HF Markets offers a variety of withdrawal methods, including:
  • Bank Wire
  • Credit Cards
  • Neteller
  • Skrill
  • FasaPay
  • Webmoney
  • CryptoPayments
You can initiate a withdrawal by logging into the client area on the website.

How long does HFM withdrawal take?

HFM withdrawals submitted before 10:00 am server time are nearly always processed the same business day. Withdrawal later in the day are processed the next business day.

The time for a processed withdrawal to be received varies from nearly instant to as much as 10 days, depending on the withdrawal method.

How do I apply for a HFM MasterCard?

HFM does offer it's own MasterCard which allows you to easily withdraw your profits to the card.

Applications can be submitted directly from HFM's website after your account is approved and funded.

Does HFM allow hedging?

HFM permits hedging as well as scalping, news trading, and the use of EAs.

How do I get a HFM card?

Applications for the HFM MasterCard debit card can be made directly from HFM's website.

Once approved, it is mailed to you for free. With HFM card, you can easily withdraw your funds directly to this card.

Is HFM regulated in South Africa?

HFM holds a license from the South African Financial Sector Conduct Authority (FSCA License #46632) in addition to other regulatory licenses from around the world.