Quick Facts
Founded
2010
Headquarters
Limassol, Cyprus
Regulation
CySEC · DFSA · FSCA · FCA
Min. Deposit
$0
Avg. Spread EUR/USD
0.3 pips (Zero)
Commission
$6 RT (Zero)
Platforms
MT4, MT5
Max Leverage
Up to 1:1000
How HFM (HotForex) Scored
Spreads
Live Spread Data — ECN/Raw Account
Measured over 30 trading days from a live account opened by our team. Data reflects averages across London, New York, and Asian sessions.
| Pair | Spread (avg) | Commission RT | Total Cost |
|---|---|---|---|
| EUR/USD | 0.3 pips | $6 RT | ~0.9 pips |
| GBP/USD | 0.5 pips | $6 RT | ~1.1 pips |
| USD/JPY | 0.4 pips | $6 RT | ~1.0 pips |
| XAU/USD | 0.2 pips | $6 RT | ~0.8 pips |
✓ Pros
- ✓Zero spread account from 0.0 pips
- ✓$0 minimum deposit on standard account
- ✓Regulated by CySEC and DFSA
- ✓MT4 and MT5 available
- ✓Strong presence in Middle East and Africa
✗ Cons
- ✗High leverage (1:1000) is risky for retail traders
- ✗Education quality is average
- ✗Withdrawal processing can take 2-3 days
- ✗Spread on standard account is 1.2 pips — uncompetitive
Our Verdict
Final Assessment
HFM is a solid mid-tier broker that works particularly well for traders in the Middle East and Africa. The Zero account is genuinely competitive at 0.0–0.3 pips with a reasonable commission structure. The main drawback is the overall platform experience, which feels dated compared to Pepperstone or IC Markets. Withdrawal times disappointed — averaging 2.8 days in our testing.
⚠ Risk Warning: CFDs are complex instruments. 68–89% of retail investor accounts lose money when trading CFDs. FXTopBrokers may earn a commission if you open an account via our links. This does not affect our score.