HFM (HotForex)

Is HFM Regulated?

Regulatory Overview: HF Markets (HFM) holds licenses from several top-tier global authorities, such as the UK’s FCA, South Africa’s FSCA, and Dubai’s DFSA. 

• Financial Conduct Authority (FCA) – HF Markets (UK) Ltd (Reference No. 801701)
• Financial Sector Conduct Authority (FSCA) of South Africa – HF Markets SA (Pty) Ltd (FSP No. 46632)
• Dubai Financial Services Authority (DFSA) – HF Markets (DIFC) Ltd (F003401)
• Financial Services Authority (FSA) Seychelles – HF Markets (Seychelles) Ltd (License No. SD015)
• Capital Markets Authority (CMA) Kenya – HF Markets Ltd (License No. 155)
• Financial Services Authority (FSA) St. Vincent and the Grenadines – HF Markets (SV) Ltd (Registration No. 22747 IBC 2015)

Regulation for Filipino Traders: Filipino clients are onboarded under offshore entities—commonly HF Markets (SV) Ltd registered in St. Vincent and the Grenadines. Because Filipino regulators do not oversee these entities, accounts are not subject to Philippine consumer protections, local dispute resolution, or investor compensation schemes.

Client Protection Measures: Though offshore-based, HFM maintains several global safeguards for safety and compliance:

• Segregated Funds: Client deposits are kept in separate accounts from company funds to limit risk.
• Negative Balance Protection: Ensures traders do not lose more than their deposited amount.
• AML & Compliance Protocols: HFM follows international anti-money laundering (AML) and Know Your Customer (KYC) standards and undergoes independent third-party audits.
• Financial Commission Membership: HFM participates in dispute resolution schemes in relevant regions, offering non-binding compensation up to €20,000 per client.

Important Note: Because HFM operates under offshore entities, Philippine traders do not benefit from local regulatory oversight or recourse. Users should exercise caution, ensure compliance with the country’s foreign exchange and income tax rules, and conduct appropriate due diligence before trading.

Overview: Filipino clients trading under HF Markets (SV) Ltd can access over 1,000 CFD instruments across asset classes, with maximum leverage up to 1:2000 depending on instrument type.

• Forex (up to 1:2000): Trade over 50 currency pairs, including major, minor, and exotic pairs such as USD/ZAR and EUR/GBP.
• Metals & Commodities: Trade CFDs on gold, silver, palladium, platinum, oil, natural gas, and soft commodities—leverage varies by product.
• Indices: Access key global indices such as US30, UK100, GER40 and others, with typical leverage up to 1:200.
• Stock CFDs: Trade company shares from around 100 global stocks, including JSE-listed firms and international giants, with leverage commonly around 1:14.
• Cryptocurrencies (up to ~1:50): CFDs available on Bitcoin, Ethereum, Ripple, Litecoin and others, offered round the clock.
• ETFs & Bonds: Trade select global ETF and bond CFDs—leverage typically limited to 5:1.
• DMA Stock Trading (MT5 only): Access nearly 950 DMA (Direct Market Access) stocks and trade with up to ~1:5 leverage.

Note: These trading instruments are offered via HFM’s offshore regulated entities. Access to full leverage (e.g., up to 1:2000) may depend on the user’s equity and trading history. Certain instruments—like DMA stocks—are only available on MetaTrader 5. Leverage may also be automatically reduced during high-volatility events.

It took us about 3 minutes to open an account at HFM. We could immediately deposit funds into our accounts, but our accounts were only ready for trading after two days. As a Filipino trader you can open an account at HFM, but will need to meet all the minimum deposit amounts to do so; these are:

• Cent Account: o USD 
• Premium Account: 0 USD
  
• Pro Account: 100 USD
• Pro Plus: 250 USD
• Zero: 0 USD
• Copy Trading Account: 25 USD for Strategy Providers, 10 USD for Followers

HFM offers five market execution accounts, three of which are standard trading accounts. They also have a specialised copy trading account. Each account is designed to serve a different type of trader—from beginners using micro-lots to experienced professionals and passive investors. All accounts are compatible with MT4, MT5, WebTrader, and HFM’s proprietary platform.

Cent Account: Best for new traders looking to practise with smaller trade sizes. This account requires no minimum deposit, allows trading with micro-lots, and has spreads starting from 1.2 pips. Leverage is available up to 1:2000. Trading is limited to forex and metals.

Zero Account: Geared toward scalpers and high-frequency traders, this account provides raw spreads from 0.0 pips and charges a competitive commission of around USD 6 per lot round-turn. There is no required minimum deposit, and leverage can reach up to 1:2000.

Pro Account: A commission-free option for more experienced traders, the Pro Account offers low floating spreads from 0.5 pips. A minimum deposit of USD 100 is required, and leverage up to 1:2000 is available.

Pro Plus Account: Aimed at professionals who prioritise tight spreads and higher precision. This account combines raw spreads starting at 0.2 pips with a commission charge, and requires a minimum deposit of USD 250. Leverage goes up to 1:2000.

Premium Account: Designed for casual or longer-term traders, this account features spread-only pricing from about 1.2 pips. It has no minimum deposit requirement and allows maximum leverage of 1:2000.

HFcopy Account: HFM’s copy trading solution enables clients to follow and replicate the strategies of professional traders. Followers need a minimum deposit of USD 25, while Strategy Providers must deposit between USD 100–500. Performance fees—typically 5% to 50%—are applied only to profits. Copy trading is available on MT4 and HFM’s web platform, and each HFcopy account can follow one provider at a time.

Swap-Free Options: All live account types are available in Islamic (swap-free) versions for traders who require Sharia-compliant trading conditions.

Additional Features: Traders can create demo versions of all account types and manage multiple accounts through the HFM Client Area. Filipino traders also enjoy access to regular promotions and bonuses.

Important Note: While maximum leverage can reach 1:2000, the actual leverage offered may vary based on account equity, trading instrument, and prevailing market conditions.

Filipino traders can trade directly using the HFM proprietary mobile app, available for both iOS and Android, alongside access to MetaTrader 4 (MT4)and MetaTrader 5 (MT5) mobile platforms.

HFM Mobile App (HFM App)

The HFM App delivers a fully integrated trading environment. Users can manage multiple MT4, MT5, and HFcopy accounts in one place. Features include account opening, fund transfers, customisable trading by amounts, lots or units, and comprehensive trade history with performance analytics. The app supports CFDs across forex, stocks, commodities, bonds, ETFs, and indices with fast execution and built-in risk management tools like calculators, price alerts, and real-time market news and analysis. Advanced charting is available with multiple timeframes, technical indicators, and chart types. The app also provides live webinar registration and demo account access.

MetaTrader 5 Mobile

The MT5 mobile app supports live and demo accounts with full charting tools, pending and market orders, multiple indicators, timeframe analysis, and account overview. It is fully compatible with the desktop MT5 experience and supports Expert Advisors (EAs) and backtesting where allowed.

MetaTrader 4 Mobile

For MT4 users, the MT4 mobile app offers classic real-time charting, technical indicators, automated trading via EAs, and order management (market, limit, stop). However, trades cannot be executed through the HFM App itself—they must run via the native MetaTrader 4 mobile interface.

While MT4 and MT5 are both excellent trading platforms, many other CFD brokers also offer their own web-based platforms, which tend to be easier to use for beginner traders. On the other hand, the benefit of HFM offering third-party platforms such as MT4 and MT5 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker.

For the purposes of this review, we tested both of HFM’s web trader platforms.

Metatrader 4 (MT4)

HFM offers the standard version of MT4, which has 24 graphical objects and 30 built-in indicators. However, it also offers Premium Trader tools, available to clients who deposit more than 100 USD, which plug directly into the MT4 platform, enhancing its functionality (click here for more on Premium trader tools). 

MT4’s platform’s interface is dated but fully customisable. There are three chart types, including Line, Bar, and Candlestick charts and you can access a wide selection of indicators in multiple timeframes.

HFM also offers support for MT4 MultiTerminal, providing a convenient method of managing multiple accounts simultaneously from a single interface.

Metatrader 5 (MT5)

MT5, the newer version of its predecessor, MT4, is also available at HFM. We recommend using MT5 if you are looking for a more powerful and faster trading platform when it comes to back-testing functionality for automated trading algorithms.  Additionally, traders prefer MT5 for its depth of market display, additional technical indicators (38 as opposed to 30 on MT4), and analytical tools. It is also much easier to search for an instrument to add to the market watch list than on MT4. 

Both MT4 and MT5 are available as downloads, browser-based, and on iOS and Android devices. Mobile access is 24/7, and mobile apps employ the latest SSL encryption technology for security.

Overall, HFM provides a good selection of third-party platforms but lacks its own in-house trading platforms, which are usually more user-friendly.

Trading Tools

HFM offers an excellent range of trading tools, including Autochartist, a free VPS service, and a set of Premium Trading Tools. While all these tools are provided free, we were disappointed that traders are required to make a substantial deposit before access is provided.

Autochartist

For all HFM clients with a minimum deposit of 100 USD, Autochartist is an award-winning automated technical analysis tool that plugs into MT4 and MT5 and scans all available CFD markets for trading opportunities. It is one of the best technical analysis tools on the market, and we were pleased to see that HFM subscribes to its services.

Autochartist’s advanced pattern recognition engine identifies the strongest potential trading opportunities and predicts future price movements. Some of Autochartist’s key features are:

• Chart pattern recognition
• Fibonacci pattern recognition
• Key level analysis
• Pattern quality indication

VPS

HFM clients with a minimum deposit of 5000 USD can also subscribe to a free VPS hosting service provided by external third-party providers. VPS services ensure trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure. The VPS service is only available to traders using the MT4 platform. See below for more details:

Premium Trader Tools

Available to all HFM clients with a minimum deposit of 100 USD, Premium Trader Tools give traders access to institutional quality technology, including advanced trading tools, user-configurable news and information, and trade analysis.  It also includes an array of sophisticated alarms, messaging systems, and live sentiment and correlation tracking. A few of the tools in the package include:

• Trade Terminal: A feature-rich professional trade execution and analysis tool, providing several trading features and order controls that are not included in MT4 or MT5.
• Mini Terminal: The mini-terminal facilitates trade management by making commonly-used trading features more accessible than in the native version of the software.
• Connect: A customisable news feed aggregator and interactive economic calendar
• Correlation Matrix and Correlation Trader: These tools work together to show correlations between pairs of trading symbols. It functions with any symbols available in the trading platform, allowing a calculation of the correlation between multiple asset classes against Forex. The Correlation Trader will then allow for a detailed inspection of the correlation between any two instruments.

Other trading tools available at HFM include a range of trading calculators, which can be used to calculate pip value, swap fees, risk percentages, and support and resistance levels.

Trading Tools Comparison

Broker

Economic Calendar

Autochartist

Trading Central

Trading View

Free VPS

VPS services are usually offered free with a minimum trade volume, otherwise a monthly subscription fee will apply. VPS services are usually hosted by third-party companies.

HFM

Yes

Yes

No

No

Yes

IC Markets

Yes

Yes

Yes

Yes

Yes

FBS

Yes

No

No

No

Yes

As a regulated broker, HFM ensures that all Anti-Money Laundering rules and regulations are followed. As such, all non-profit funds are returned to the original deposit source. 

Accepted Currencies: When we opened our account at HFM, we were given the choice of three base currencies: USD, EUR or GBP.

Local bank transfers: We were pleased that HFM offers free online bank funding for clients with online bank accounts. This is a much faster method of depositing and withdrawing funds than a standard bank wire, with deposits reflecting almost instantly and withdrawals received within 2 business days.

Traditional deposits are handled on weekdays and conditions apply to each deposit option.

Traders who open a demo or live account will get access to the HFM e-Course.  This course is well-structured and includes the basics of Forex theory and Forex trading, reading, and interpreting charts, trading strategies, trading psychology, and technical analysis.

Video tutorials are available without registration, and these cover introductory concepts, Metatrader tutorials, trading strategies, and lessons in economic theory.

Webinars on current events, advanced trading strategies, and risk and money management are run every few days. These webinars do not require an account at HFM, but you will need to register

Overall, the quality of the educational content is very high, and HFM obviously does its best to educate beginner traders. More experienced traders will also find the information and material on offer useful, especially the webinars and video analysis on more advanced topics. This is unusual in the industry, as while most brokers will try to educate beginners, traders with more experience are often underserved.

HFM’s research and market analysis is divided into three main sections, each of which provides a specialised benefit for traders looking for market insight and trading opportunities.

Forex News

In partnership with FXSTREET, a respected market news aggregator and publisher, HFM provides a constant stream of news that impacts the markets. While the main focus is on geopolitical events and macroeconomic movements, we found that there is some reporting on technical analysis – mainly from large banks and other financial institutions. With new stories every few minutes, 24/5, this is an excellent resource for traders using all types of strategies.

HFAnalysis

This is the hub for HFM’s own market research content. The focus is a market news blog, split between fundamental and technical analysis, and trader education. From here, we were able to access monthly and quarterly outlooks, video analysis, special reports, and intraday charts. We were also able to access the HFM podcast; generally published mid-week, this is a detailed look at recent market movements and a look ahead to potential market-impacting events. Overall, we found that the analysis provided by HFM’s experts is detailed and accurate and is on par with the in-house research provided by other large international Forex brokers.

Advanced Insights

This plugin for MT4 and MT5 provides sentiment and volatility analysis from an insight engine that applies big data AI to millions of news articles and live trading positions. The plugin also provides a timeline of the upcoming events and presents detailed infographics on HFM’s full range of assets. While this tool is free, traders must have deposited at least 100 USD and made closed trades worth 10 lots or more in the previous two months.

Award-winning customer service and a client-focused approach to business mean that beginner traders at HFM can rely on excellent support. 

Support is available 24/5 in over 27 languages via email, live chat, and telephone. 

For the purposes of the review, we tested the live chat and telephone services. Our call was received immediately, and we were transferred to the correct department, which answered all our questions to our satisfaction. The live chat agents were also responsive and highly knowledgeable.