HFM review: is it safe for gold trading?
Founded 2010 · Limassol, Cyprus
- Score (other countries)
- 43 · D
- Best score
- 88 · United Kingdom
- Tier 1–2 for you in
- 4 / 22 countries
- Trader Voice
- 72
- Platforms
- MT4 · MT5 · Own
On this page
Is HFM safe?
HFM is a 16-year-old broker headquartered in Limassol, Cyprus. The group has 6 regulated companies (FCA, CySEC, FSCA, DFSA, FSA, SVG FSA). How safe it is for you depends on which one opens your account: in 4 of the 22 countries we cover that is a Tier 1–2 regulated company. Elsewhere it is HF Markets (Seychelles) Ltd (FSA, Tier 4 · light offshore).
Regulation and licences
| Company | Regulator | Regulator tier | Licence | Retail clients |
|---|---|---|---|---|
| HF Markets (UK) Ltd | Financial Conduct Authority ↗ United Kingdom | Tier 1 · strictest | Pending check | Yes |
| HF Markets (Europe) Ltd | Cyprus Securities and Exchange Commission ↗ Cyprus (EU) | Tier 2 · strong | Pending check | Yes |
| HF Markets SA (PTY) Ltd | Financial Sector Conduct Authority ↗ South Africa | Tier 2 · strong | Pending check | Yes |
| HF Markets (DIFC) Ltd | Dubai Financial Services Authority ↗ UAE (DIFC) | Tier 2 · strong | Pending check | Yes |
| HF Markets (Seychelles) Ltd | Financial Services Authority ↗ Seychelles | Tier 4 · light offshore | Pending check | Yes |
| HF Markets (SV) Ltd | Financial Services Authority (company registry only; does not license forex brokers) ↗ St Vincent & the Grenadines | Tier 5 · registration only | Pending check | Yes |
Each regulator name links to its own public register. Search the exact company name from your account agreement there before you deposit. How to verify a licence
Which company holds your account
HFM assigns clients to different companies depending on where they live. This is the company, regulator and score you would get in each country we cover.
| If you live in | Your account is held by | Regulator | Score | Rank |
|---|---|---|---|---|
| Other countries | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| United States | Not accepted | — | — | — |
| United Kingdom | HF Markets (UK) Ltd | FCA T1 | A+88 | 8 / 13 |
| EU / EEA | HF Markets (Europe) Ltd | CySEC T2 | A77 | 10 / 20 |
| Australia | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 18 / 20 |
| Canada | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 15 / 20 |
| Singapore | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 15 / 20 |
| Malaysia | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Indonesia | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 13 / 19 |
| Thailand | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Vietnam | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Philippines | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| India | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Japan | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 16 / 21 |
| Hong Kong | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 13 / 19 |
| UAE | HF Markets (DIFC) Ltd | DFSA T2 | B62 | 4 / 18 |
| South Africa | HF Markets SA (PTY) Ltd | FSCA T2 | B62 | 7 / 18 |
| Kenya | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Nigeria | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| South Korea | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Turkey | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Mongolia | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
| Brazil | HF Markets (Seychelles) Ltd | FSA T4 | D43 | 12 / 18 |
Scores are provisional until our cost, news-spread and withdrawal tests are in. T1 = strictest regulator tier, T5 = company registration only. Licence details pending register check.
Trading gold with HFM
- Platforms
- MT4, MT5, Own platform
- Minimum gold order
- 0.01 lot (1 oz)
- Swap-free account
- Yes
- Minimum deposit
- $0
- Round-trip cost, 1 lot XAUUSD
- Not measured yet
- Spread widening at NFP
- Not measured yet
- Withdrawal time
- Not measured yet
- Overnight swap, 1 lot long
- Not measured yet
Cost, news-spread and withdrawal tests run on live accounts from our gold cost lab. Results appear here as each broker is tested. Gold pip value calculator · Margin calculator
Fees, deposits and withdrawals
What the broker publishes about deposits, withdrawals and fees. These are the broker’s own terms, collected from independent reviews and the broker’s pages, not our lab measurements.
- Minimum deposit
- 0 on most accounts (5–100 USD minimum per payment method)
- Inactivity fee
- 5 USD dormant fee after 6 months without activity
- Deposit fee
- None from broker
- Withdrawal fee
- None from broker, except 1% on crypto withdrawals
- Withdrawal time
- Same day if requested before 10:00 (GMT+3); instant to 10 business days to arrive
- Account types
- Cent · Pro · Premium · Zero (commission)
- Raw account commission
- 6 USD per round-turn lot on Zero
- Payment methods
- Bank wire · Visa/Mastercard · Skrill · Neteller · FasaPay · Cryptocurrency · Local methods by region
- Trustpilot has suspended HFM's TrustScore for breaching its review guidelines and says it removed fake reviews
- Bonuses and trading contests are offered on offshore entities
Checked 2026-11-05. Terms change; confirm on the broker’s site before you deposit.
Regulatory record
Public warning2026 · SEC Philippines · HF Markets (HFM)
Public advisory: not authorised to solicit investments from Filipinos; promoters face criminal liability
Source ↗Fine2016 · CySEC · HF Markets (Europe) Ltd
EUR 105,000 in fines over outsourcing records, unrecorded client calls, misleading marketing and weak risk disclosure
Source ↗
Fines and regulator orders in the last five years reduce the protection score: −4 each, up to −12. Self-reported breaches that were compensated, and public warnings, are shown but not scored.
Score breakdown
For clients in countries without a local licence (account held by HF Markets (Seychelles) Ltd): 43 / 100 · Measured so far: 45 of 100 weight points
Protection you actually get · 35%
34- Your entity’s regulator (FSA) is Tier 4 (light offshore)+16
- Negative balance protection promised by the broker only+6
- Holds at least one Tier 1 licence in the group+6
- 16 years in business+6
Gold trading cost · 25%
Not measured yetExecution under stress · 15%
Not measured yetMoney in and out · 15%
Not measured yetPlatforms and gold conditions · 10%
75- MetaTrader 4+20
- MetaTrader 5+20
- Own platform+5
- 0.01-lot minimum order+15
- Swap-free account available+15
Pros and cons
Pros
- Retail clients can be served by Tier 1 regulated companies (FCA).
- In 4 of the 22 countries we cover, your account would sit with a Tier 1–2 regulated company.
- Offers both MT4 and MT5.
- Swap-free account available.
- 16 years in business.
Cons
- Licence details come from the broker’s own pages; our register check is not finished.
- Clients outside its licensed countries are onboarded to HF Markets (Seychelles) Ltd (FSA), a light offshore regulator.
What traders say
The Trader Voice score sits beside our expert score and is never mixed into it. It combines public review scores with ratings from our own readers.
Trader Voice
72
Expert score (other countries): 43
Public reviews
72
Trustpilot 4.4/5 from 2,961 reviews, 11% one-star
Trustpilot has suspended this score for breaching its review rules. We use the star breakdown and take off 10 points.
Source, 2026-11-05 ↗Our readers
No reader ratings yet. Be the first below.
What reviewers praise
- Fast withdrawals
- Quick execution on MT4
- Responsive account managers
What reviewers complain about
- Withdrawals refused or profits cancelled over alleged rule breaches
- Accounts closed without detailed evidence
- Slow, repetitive support
- Deposits not credited
…
Trustpilot scores reflect who a broker invites to review, so we temper them with the share of one-star reviews. Reader ratings count after an account is 72 hours old; one rating per account per broker. Full methodology and data rules
Trader evidence
What readers report from their own accounts: how long withdrawals took, complaints whose evidence our editors checked, and corrections to our data. Nobody can pay to remove a complaint.
Median withdrawal time
—
No reports yet
Arrived within 24 hours
—
Verified complaints
0
0 resolved
…
Questions
Is HFM safe for gold trading?
HFM is a 16-year-old broker headquartered in Limassol, Cyprus. The group has 6 regulated companies (FCA, CySEC, FSCA, DFSA, FSA, SVG FSA). How safe it is for you depends on which one opens your account: in 4 of the 22 countries we cover that is a Tier 1–2 regulated company. Elsewhere it is HF Markets (Seychelles) Ltd (FSA, Tier 4 · light offshore).
Is HFM regulated?
Yes. HF Markets (UK) Ltd is regulated by Financial Conduct Authority (United Kingdom). HF Markets (Europe) Ltd is regulated by Cyprus Securities and Exchange Commission (Cyprus (EU)). HF Markets SA (PTY) Ltd is regulated by Financial Sector Conduct Authority (South Africa). HF Markets (DIFC) Ltd is regulated by Dubai Financial Services Authority (UAE (DIFC)). HF Markets (Seychelles) Ltd is regulated by Financial Services Authority (Seychelles). HF Markets (SV) Ltd is regulated by Financial Services Authority (company registry only; does not license forex brokers) (St Vincent & the Grenadines). These details are from the broker’s legal pages and our register check is still pending.
Which countries does HFM not accept?
Of the countries we cover, HFM does not accept residents of United States.
Does HFM offer MT4, MT5 or TradingView for gold?
HFM offers MT4, MT5, its own platform. The minimum gold order is 0.01 lot.
Does HFM have a swap-free account?
Yes. Check the account terms: many swap-free accounts charge an admin fee once a position is held for a few days.
What is the HFM minimum deposit?
$0 on the standard account, according to the broker.
Alternatives
See also
Best brokers by country
Data checked: November 2026 · Sources: [1]
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ratings are our opinion, based on the data and rules described in the methodology. They are not investment advice.