Last updated: 20 August 2026
HFM Broker: Accounts, Spreads & Regulation
HFM (HF Markets, formerly HotForex — rebranded in 2022) is a forex & CFD broker offering five account types, MT4/MT5 and its own app. This page compares the accounts, spreads, leverage and limits, and gives an honest look at regulation and risk so you can decide if HFM fits you.
Honest note: the account for Indonesian clients runs through HF Markets (Seychelles) Ltd under an offshore FSA Seychelles licence — it is not registered with Bappebti or supervised by OJK. Leveraged forex/CFD trading is high risk; most retail accounts lose money.
In short: HFM offers Cent, Zero, Pro, Premium and Top-Up Bonus accounts with spreads from 0 (Zero), leverage up to 1:2000, a minimum deposit from $0, plus MT4/MT5 and an app. The full comparison table, pros & cons and a plain look at regulation are below.
HFM broker at a glance
- Name
- HFM
- Formerly
- HotForex (2022)
- Instruments
- Forex & CFD (mata uang, logam, energi, indeks, saham, komoditas)
- Operator (ID clients)
- HF Markets (Seychelles) Ltd
- Registration
- 8419176-1 (Seychelles)
- Licence
- FSA Seychelles (entitas /sv/ untuk klien internasional) — offshore, bukan tier-1
- Bappebti
- Tidak terdaftar
- Leverage
- Hingga 1:2000 (akun Top-Up Bonus 1:1000)
- Min. deposit
- Mulai dari USD 0 (akun Cent, Zero, Premium, Top-Up Bonus); akun Pro USD 100 / EUR 100 / Rp1.600.000
- Platforms
- MetaTrader 4 (MT4), MetaTrader 5 (MT5), HFM WebTrader, Aplikasi HFM (Android/iOS)
- Demo account
- Ya (akun demo tersedia)
HFM account types
A great fit for beginners who want to test their trading skills.
An accessible, swap-free and low-cost solution suitable for all traders.
Built for more experienced traders looking to level up their trading.
For retail traders wanting swap-free trading with no minimum deposit and no commission.
An account with flexible bonus offerings on transfers (terms apply).
HFM accounts compared
| Cent | Zero | Pro | Premium | Top-Up Bonus | |
|---|---|---|---|---|---|
| Spread | From 1.4 pip | From 0 on Forex | From 0.6 pip | From 1.4 pip | From 1.4 pip |
| Min. deposit | $0 | $0 / €0 / Rp0 | $100 / €100 / Rp1.600.000 | $0 / €0 / Rp0 | $0 / €0 / Rp0 |
| Forex commission | No | Yes | No | No | No |
| Max leverage | 1:2000 | 1:2000 | 1:2000 | 1:2000 | 1:1000 |
| Min. lot | 0,01 | 0,01 | 0,01 | 0,01 | 0,01 |
| Max open orders | 150 | 500 | 500 | 500 | 500 |
| Swap-free | Yes | Yes | Yes | Yes | No |
| Flexible bonus | No | No | No | No | Yes |
| Currency | USC | USD, EUR, IDR | USD, EUR, IDR | USD, EUR, IDR | USD, EUR, IDR |
Common to all accounts
- Platforms: MetaTrader 4, MetaTrader 5, HFM WebTrader, Aplikasi HFM (Mobile)
- Spread type: Variable
- Margin call: 50% · Stop out: 20%
- Market execution & personalised service
HFM regulation & safety
For Indonesian clients, HFM accounts open under HF Markets (Seychelles) Ltd (reg. 8419176-1) with an FSA Seychelles licence — an offshore regulator, not tier-1. The HF Markets group also holds stricter licences elsewhere (e.g. HF Markets (UK) Ltd under the FCA, HF Markets SA under the FSCA), but those entities generally don't serve Indonesian retail accounts. This means Indonesian client funds are not under Bappebti/OJK protection or a tier-1 compensation scheme. It doesn't mean HFM is a "scam" — HFM is a long-running global broker* — but the offshore status is a risk factor to weigh, alongside high leverage and market volatility. Watch out for fake sites impersonating HFM.
- Low barrier to entry — from $0 minimum on most accounts.
- Five account types, incl. Cent for beginners and Zero for tight spreads.
- MT4, MT5, WebTrader and a mobile app.
- Local Indonesian funding — QRIS, bank transfer and e-wallets (DANA/OVO/ShopeePay).
- Swap-free available on several accounts; demo account offered.
- This entity is offshore (FSA Seychelles) — not Bappebti-registered or OJK-supervised.
- Very high leverage (up to 1:2000) magnifies losses, not just gains.
- Spreads are variable and some perks depend on region/terms.
- Bonuses (Top-Up) carry conditions — read the terms.
Which HFM account suits you?
- Beginner / small capital → Cent (micro lots, $0) to practise with real money at low risk.
- Cost-focused → Zero (spreads from 0 on forex, commission applies).
- Experienced → Pro (from $100, no commission, tighter spreads).
- Swap-free, no commission → Premium ($0 minimum).
- Want deposit bonuses → Top-Up Bonus (flexible bonus, terms apply).*
Notes
- Raw spreads available on specific symbols.
- Leverage may be adjusted — refer to the Terms & Conditions.
- Feature availability depends on the region.
- Swap-free applies only for specific instruments; Terms & Conditions apply.
- There is a limit to the number of trading accounts a client can open (HFM WebTrader, HFM App, MT4, MT5).
HFM broker FAQ
What is the HFM broker?
HFM (HF Markets), formerly HotForex, is a forex & CFD broker offering accounts like Cent, Zero, Pro, Premium and Top-Up Bonus on MT4/MT5 and its app.
Is HFM safe and legal in Indonesia?
The account here runs via HF Markets (Seychelles) Ltd under an offshore FSA Seychelles licence — not Bappebti-registered or OJK-supervised. Trade at your own risk and only with money you can afford to lose.
Which HFM account is best for beginners?
Cent (micro lots, $0 minimum) is popular for beginners; Zero suits cost-focused traders. Try a demo account first.
What is the minimum deposit at HFM?
From $0 on Cent, Zero, Premium and Top-Up; Pro from $100 (Rp1,600,000). Confirm current figures on hfm.com.
What leverage does HFM offer?
Up to 1:2000 (Top-Up Bonus 1:1000). High leverage sharply increases risk — use it cautiously.
Which platforms does HFM support?
MetaTrader 4, MetaTrader 5, HFM WebTrader and the HFM mobile app (Android/iOS).
Is HFM a scam?
HFM is a long-running global broker* with licensed entities in several jurisdictions. However, the Indonesian account is offshore (FSA Seychelles) and not Bappebti/OJK supervised, so risk is on you. Beware fake sites impersonating HFM.