HF Markets (HFM), formerly known as HotForex, offers outstanding investment opportunities. While you may have come across the broker in forums, social media, or group chats, it’s essential to verify whether it’s a secure and legitimate broker before investing your money.
Fortunately, HF Markets is a legitimate entity that adheres to several top-tier regulations, including those of the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA).
In this TRU Insight, our experts will share their honest opinions on HFM’s features and products.
With over a decade of experience analyzing markets and examining several broker platforms, our experts have developed a keen eye for determining the key qualities that define the best financial brokers.
Rest assured, this comprehensive HF Markets review provides unbiased analysis and valuable insights that you may want to consider before trading with HF Markets.
An Overview of HF Markets
HotForex is a multi-awarded global CFD broker founded in 2010. Rebranding as HF Markets (HFM), it now offers a broad range of trading services.
Currently, HFM has over 2.5 million retail and institutional client accounts, 41,000 affiliates, and approximately $2 billion in client deposits.
As a world-renowned forex and CFD broker, HF Markets offers an impressive range of trading platforms and account types to cater to diverse client needs. Among these, the proprietary HFcopy platform is available for strategic providers and followers to use.
Traders can also access a comprehensive selection of analytical and educational tools to improve their trading experience. This includes online trading courses and podcasts, which are all free to access. Additionally, traders can also benefit from the broker’s favorable trading conditions and instant order execution.
They also have a dedicated website that features market news, live webinars, and expert insights. When it comes to trading, they offer MetaTrader 4 and MetaTrader 5 trading terminals.
Read More: Hot Forex Review 2025: Is HFM Still a Trusted Forex Broker? – TradersUnited
HF Markets Platform Features
Before we tackle our expert’s insights on HFM, let’s first take a closer look at a summary of its platform features:
| Base Currencies | USD, GBP, EUR, PLN, CHF, JPY, ZAR. NGN. KES, AED |
| Available Assets | Forex, Stocks, Metals, Cryptocurrencies, Commodities, Indices, ETFs, Energies, Bonds |
| HF Markets Demo Account | Yes |
| Promotions | Yes |
| Number of Currency Pairs | 50+ |
| Account Opening Time | Within 24 Hours |
| Account Type | Cent, Zero, Premium, Pro |
| Regulation | FCA, FSCA, CySEC, FSC, FSA, DFSA, CMA |
| Platforms | WebTrader, MetaTrader 4 (MT4), MetaTrader 5 (MT5). Mobile App, HFCopy |
| Maximum Leverage | Up to 1:2000 |
| Minimum Position Size | 0.01 Lot |
| Average Spread | 0.8 pips |
| Spread Type | Varies per account (Cent account |
| Copy Trading | Yes |
| Hedging Allowed | Yes |
| Scalping Allowed | Yes |
| Islamic Account | Yes |
Our Experts’ Take on HF Markets
Our review partners compiled a list of notable features to gauge HFM Market’s performance and reputability. Upon testing the platform, here are the key findings that our review partners gathered, along with their corresponding rating:
Regulation and Safety: 5/5
Based on our expert partners’ findings, HF Markets is overseen by several top-tier regulatory bodies, signaling its adherence to the strictest standards to ensure trader safety.
Below is a compilation of HFM’s regulations:
| Regulatory Body | Jurisdiction | License Number |
| Financial Conduct Authority (FCA) | United Kingdom | 801701 |
| Financial Sector Conduct Authority (FSCA) | South Africa | 46632 |
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | 183/12 |
| Financial Services Commission (FSC) | Mauritius | C110008214 |
| Financial Services Authority (FSA) | Seychelles | SD015 |
| Dubai Financial Services Authority (DFSA) | United Arab Emirates | F004885 |
| Capital Markets Authority (CMA) | Kenya | 155 |
The above licensing and regulation reinforce HF Market’s reputation as a regulatory, competitive, and compliant broker.
Another noteworthy safety feature that our experts found is that HFM Markets upholds client fund segregation. In a show of good faith, HF Markets segregates client funds from the company’s operating capital. It also offers negative balance protection to all its clients.
Fees, Costs, and Commissions: 4.8/5
One of the advantages of using HF Markets is its zero-commission fee for bank transfer and account replenishment.
Upon testing its HFM Markets’ platform, our review experts also noted the following fees:
| Minimum Deposit | None |
| Withdrawal Fee | None |
| Inactivity Fee | None |
| Swap Fees | Varies by instrument and position duration |
| Commissions | Varies by account type and instrument |
HFM’s commissions vary based on the account type and instrument. Here is what our experts found:
| Trading Account | Commission | Trading Cost |
| Cent Account | Spread Only | 12 |
| HFM Copy Trading Account | Spread Only | 10 |
| Premium Account | Spread Only | 12 |
| Pro Account | Spread Only | 5 |
| Pro Plus Account | 0 | 2 |
| Zero Account | 6 USD/lot | 7 |
HFM also offers higher leverage and bonuses to Nigerian traders, as there is no regulatory oversight in place. According to our experts, this feature may be considered attractive to some traders.
Among all these fees on HFM, no deposit bonus stands out. This benefit is further appreciated due to the broker’s seamless Know-Your-Customer (KYC) process. In fact, the majority of CommuniTrade members who used HFM reported a convenient account opening process.
This leads us to our next point.
Account Opening and Account Types Offered: 4.9/5
Our experts note that opening an account with HF Markets takes less than 24 hours and is a hassle-free process. However, the verification process took two days, which is longer than with similar brokers.
Upon opening an HFM account, our experts shared that they were able to deposit funds into their accounts immediately. However, trading was only available after a two-day period.
Nonetheless, HFM Markets offers one of the best trading environments for traders as a global CFD broker.
Upon successfully accessing the HF Markets login, users can choose from five account types:
| Account Type | Minimum Deposit | Min. Spread |
| Cent Account | 0 USD | 1.20 |
| Premium Account | 0 USD | 1.20 |
| Zero Account | 0 USD | 0.10 |
| Pro Account | 100 USD | 0.50 |
| Pro Plus | 250 USD | 0.20 |
| HFM Copy Trading Account | 25 USD for Strategy Providers, 10 USD for Followers | 1 |
These accounts all have tight spreads and minimum deposits starting at $5 on the entry-level account.
Regardless of the selected account type, a floating spread is offered, which starts at 1 point. The Zero Account Spread account is an exception, as its starting spread is zero.
Deposits and Withdrawals: 4.8/5
Based on our experts’ experience, HFM Markets’ withdrawal and deposit features are among the smoothest.
Their withdrawal time, in particular, is processed within the same day, given that users request withdrawal before 10:00 server time.
To help you know more about HFM’s payment methods, as well as withdrawal and deposit services, here is a summary of the details provided by our experts:
| Deposit Methods | Credit/Debit Cards, Bank Transfer, eWallets, Bitwallet, Fasapay, Neteller, PayRedeem, Skrill, Perfect Money, Bitpay, WebMoney, Dusupay, etc. |
| Withdrawal Methods | Credit/Debit Cards, Bank Transfer, eWallets, Bitwallet, Fasapay, Neteller, PayRedeem, Skrill, Perfect Money, Bitpay, WebMoney, Dusupay, etc. |
| Withdrawal Limits | None |
| Currencies | Supports multiple currencies, including GBP, EUR, USD, CHF, and PLN |
Bonuses and Promotions: 4.9/5
HFM incorporates excitement into users’ trading experience with a comprehensive selection of promotions.
Our experts note that HFM offers engaging promotions, including high-stakes competitions, refer-a-friend cash bonuses, loyalty rewards, and demo competitions.
Below is a list of these promotions:
| Promotion | Rewards Earned | Eligibility |
| Trade Gold Drive Bold | Points trading gold for a chance to win a Mercedes, iPhone 16, or trading gear | Live traders (Africa-focused) |
| Refer a Friend | Up to 200 USD cash for every successful referral | Registered clients |
| Traders Awards | 1,000 USD and an HFM Crystal Obelisk trophy | Top trader; performance-based |
| HFM Loyalty Program | HFM Bars per trade; can be redeemed for cash or trading services | All active traders |
| Demo Contest | Bonus rewards when you compete risk-free on demo accounts | Demo account users |
| HFM Merchandise Store | Access to branded HFM gear when you trade | Traders and partners |
HF Markets offers these rewards to appreciate client engagement and performance across all levels. They also aim to boost trader motivation while providing real incentives for skill, activity, and loyalty.
Warning Against HF Markets Clone
The U.K.’s Financial Conduct Authority (FCA) issued a warning on a fraudulent copy of HFM. Details of this report shared the following information regarding the fraud:
- Name: hfmarketsx.com / hfmarketst.com
- Mobile: 07496591446
According to the FCA, scammers may provide additional false details, such as fraudulent email addresses, postal addresses, and firm reference numbers.
They added that these scammers could mix this information with genuine details of actual authorized firms and change their details over time. So, clients of HF Markets are advised to stay vigilant.
Is HF Markets Worth the Investment?
HFM is a global CFD broker that offers competitive account options, a broad range of assets, and support for the MT4 and MT5 platforms.
It boasts advanced tools, low-cost trading, and comprehensive educational resources. However, some of its services may require higher balances in users’ accounts.
Still unsure whether HF Markets is a worthwhile investment? Let our experts at CommuniTrade help you!
Ask questions, share your ideas with other traders, and learn insights from the experiences of professional traders in the financial market.
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FAQs
Is market analysis available on HFM?
Yes! HFM offers daily market analysis that covers current market trends and key financial instruments. These tools enable traders to make well-informed decisions based on timely insights and professional research.
What happened to HotForex?
In 2022, HotForex rebranded to HF Markets (HFM) as part of its goal to more accurately align the broker’s product offering with its future direction.
During the announcement, HFM’s senior management expressed a desire to have a shorter, more modern, and more memorable name that would evolve with the brand’s expanding product offerings.
As decided, the term “forex” in “HotForex” no longer properly reflected the trading experience HFM now offers to its clients.
Is HF Markets safe?
Yes! HFM is a trusted broker regulated by several top-tier authorities, including the FSCA, CySEC, FSA, and FCA. These regulations ensure HFM’s global oversight and regulatory compliance.
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