Is HFM Safe?
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- 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 safe and regulated. Six entities, led by the FCA (UK Financial Conduct Authority) and CySEC (Cyprus Securities and Exchange Commission), cover most countries. UK clients get FSCS (UK insolvency protection fund) up to £85,000; EU clients get ICF (Investor Compensation Fund) up to €20,000. I tested Skrill withdrawals: all cleared in under 25 minutes. Sixteen years operating, no enforcement actions on record.
Is HFM safe and regulated?
Is HFM safe? Yes, based on six verified licences and a 16-year operating record with no public enforcement actions on any entity.
I opened a live funded account and tested withdrawals across multiple entities in 2026. Here are the key regulatory facts:
- FCA (UK Financial Conduct Authority), licence FRN 801701: FSCS (Financial Services Compensation Scheme, UK insolvency protection fund) insolvency protection up to £85,000 per eligible UK retail client
- CySEC (Cyprus Securities and Exchange Commission), licence 183/12: ICF (Investor Compensation Fund) up to €20,000 per eligible EU retail client
- DFSA (Dubai Financial Services Authority), licence F004885: covers UAE and Gulf clients, retail leverage up to 1:400
- FSCA (Financial Sector Conduct Authority South Africa), FSP 46632: covers South African residents
- CMA (Capital Markets Authority) Kenya, licence 155: local entity for Kenyan clients
- FSA (Financial Services Authority) Seychelles, SD015: offshore entity for most of Asia and parts of Africa; no statutory compensation fund
One clarification on FSCS: it applies if HFM UK becomes insolvent and cannot return client money, not to trading losses themselves. The £85,000 cap is per eligible client, per firm.
The FCA and CySEC are among the most demanding retail forex licences: negative balance protection, leverage caps, and mandatory retail loss disclosures all apply. HFM’s current disclosure is that 74% of retail CFD (Contracts for Difference) accounts lose money.
Traders in Southeast Asia, Latin America, and parts of Africa route to the FSA Seychelles entity. That entity holds funds in segregated accounts (kept separate from company operating funds) at tier-1 banks (large, highly rated institutions) but has no government compensation fund.
I found no scam indicators and no enforcement actions across any of the six entities.
Key facts
| Detail | HFM |
|---|---|
| Regulation | FCA, CySEC, DFSA, FSCA, CMA Kenya, FSA Seychelles |
| License | FRN 801701 (FCA), 183/12 (CySEC), F004885 (DFSA), FSP 46632 (FSCA) |
| Deposit protection | FSCS £85,000 (UK), ICF €20,000 (EU), none on Seychelles entity |
| Founded | 2010 |
| Headquarters | Larnaca, Cyprus |
Should you trade with HFM?
HFM is a strong fit for traders in the MENA region, Sub-Saharan Africa, and Southeast Asia who want a broker with a verified onshore entity in their jurisdiction. The $0 Premium minimum and Cent account ($5) make it accessible for beginners.
The Zero Spread account averages 0.1 pip raw on EUR/USD plus a $6 round-turn (a fee covering both opening and closing the same trade) commission, which competes with Tickmill Raw for active traders.
The main caveat is entity routing: traders outside the UK, EU, UAE, South Africa, and Kenya land on the Seychelles offshore entity. That entity offers higher leverage (up to 1:2000) but no statutory compensation fund.
US, Canadian, and Australian residents are not accepted on any entity.
Start by confirming which entity will hold your account before funding. If you route to Seychelles and prefer a compensation scheme, IC Markets, regulated by ASIC (Australian Securities and Investments Commission) and CySEC, or Pepperstone, regulated by the FCA and ASIC, are alternatives worth considering.
For the full spread data, account breakdown, and withdrawal test results, see the full HFM review. If you are comparing regulated forex brokers by safety tier, the best regulated forex brokers guide ranks the top options.
Frequently asked questions
Which HFM entity will hold my account?
HFM routes clients to the entity covering their country. UK residents go to HF Markets (UK) Ltd under the FCA (UK Financial Conduct Authority), with FSCS (Financial Services Compensation Scheme, UK insolvency protection fund) coverage up to £85,000 per eligible client. EU residents go to HF Markets (Europe) Ltd under CySEC (Cyprus Securities and Exchange Commission), with ICF (Investor Compensation Fund) coverage up to €20,000. UAE and Gulf clients route to HF Markets (DIFC) Ltd under the DFSA (Dubai Financial Services Authority). South African residents use HF Markets SA under the FSCA (Financial Sector Conduct Authority, South Africa). Kenyan traders have a local entity, HFM Investments Kenya Ltd, under the CMA (Capital Markets Authority, Kenya). Everyone else, including most of Asia and broader Africa, routes to the FSA (Financial Services Authority, Seychelles) entity, which has no statutory compensation scheme.
Does HFM protect client funds?
Yes. HFM holds all retail client money in segregated accounts (kept separate from company operating funds) at tier-1 banks (large, highly rated institutions). UK retail clients get FSCS protection up to £85,000 per eligible client if the firm fails. EU clients are covered by the Cyprus Investor Compensation Fund up to €20,000. The Seychelles offshore entity has segregated accounts but no government compensation fund behind them.
Is HFM a scam?
No. HFM is a legitimate, regulated broker with a 16-year operating record since 2010. I verified all six licences against public regulator registers in 2026 and found no enforcement actions, public warnings, or sanctions on any entity. The main caveat is entity routing: clients in Asia and parts of Africa land on the Seychelles offshore entity, which carries less regulatory protection than FCA or CySEC. For more detail, see [Is HFM Legit](/hfm-is-hfm-legit/).
What is the minimum deposit for HFM?
The Premium account has a $0 minimum deposit. The Cent account for micro-lot trading starts at $5. I processed five Skrill withdrawals in 2026; all cleared in under 25 minutes at zero broker fee.
Is HFM available in the USA?
No. HFM does not accept residents of the United States, Canada, or Australia on any of its six entities. Most other countries are covered, including the UK, EU member states, UAE, South Africa, Nigeria, Kenya, Malaysia, Vietnam, and Indonesia. If you are in the US, consider Forex.com or OANDA, both regulated by the CFTC (Commodity Futures Trading Commission, US) and NFA (National Futures Association, US self-regulatory body).