HFM Review UK 2026 (FCA Regulated)

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

HFM scores 75/100 in our testing. This review is based on a live UK account, opened at the broker's FCA-authorised entity, funded in GBP and traded. The EUR/USD, GBP/USD and EUR/GBP spread figures shown are modal values recorded on that account across three trading days in July 2026.

HFM suits cost-aware UK traders who want a raw-pricing account without a funding hurdle. The Zero account tested at 0.0 pips on EUR/USD plus commission, the minimum deposit is £0, and HF Markets (UK) Ltd holds FCA authorisation under FRN 801701. Traders who need MT4, cTrader or TradingView should look elsewhere.

Two things stand out. First, the entry cost: few FCA brokers in our UK set pair a £0 minimum with raw pricing at this level. Second, the entity separation is clean, so only the UK company carries FSCS and FOS protection, and HFM’s offshore InfinityX account never reaches UK clients.

HFM is not the finished article. Platform choice is narrow, with MT5 and WebTrader confirmed while MT4 is unconfirmed for the UK entity. We reviewed HFM on a live UK account, where the Zero account tested at 0.0 pips on EUR/USD across three trading days in July 2026.

Cost-aware traders who want a low entry point and an MT5 raw account get the most from HFM. Traders who specifically need MT4 should confirm platform access with HF Markets (UK) Ltd before funding an account.

HFM quick facts

HF Markets (UK) Ltd is the only FCA-authorised entity in the HFM group, and the table below collects the figures a UK trader checks first.

Trading costs and fees

HFM’s Zero account passes through a raw spread plus a per-lot commission, while the Premium account folds the cost into a wider spread. The spreads below are tested modal values, the most frequent spread David Levy recorded on a live UK account across three trading days in July 2026 rather than a broker “from” figure. We explain how we measure spreads, and what the evidence tier means, separately.

Zero account costs

Zero is the cost-led tier and the reason to look at HFM. EUR/USD tested at a modal 0.0 pips and GBP/USD at 0.1, which ties Axi for the tightest raw spread in our set. Commission is about £2.25 per lot, per side, converted from HFM’s USD 3.00 rate since no GBP figure is published, so one standard lot of EUR/USD costs roughly £4.50 all in: fourth-cheapest here.

The shape is worth understanding. HFM’s spread is as tight as it gets, but its commission is ordinary, so the all-in figure trails Vantage and Axi, both of which charge far less per side. A 0.0-pip headline is not the whole cost.

Premium account costs

Premium folds the whole cost into the spread with no commission. EUR/USD tested at 1.8 pips and GBP/USD at 2.0, which puts one standard lot of EUR/USD near £14.13, all of it spread. That is the widest commission-free account we tested.

Zero vs Premium: which costs less

Zero, and not marginally: about £4.50 on one EUR/USD lot against roughly £14.13 on Premium, so Zero is cheaper by more than two thirds. That gap is the widest of any broker in this set, because HFM’s Premium spread is unusually wide rather than because its commission is low. With a £0 minimum on both, there is little reason to sit on Premium.

Other fees UK traders should check

The Zero commission is per side, so a round turn is about £4.50 rather than £2.25, and being dollar-denominated it moves with the exchange rate. Confirm HFM’s current funding and withdrawal schedule directly. And note the platform question below before you commit: if MT4 is why you are here, confirm access with the UK entity first.

Trading platforms

Platform availability on the UK entity covers MT5 and WebTrader. There is no cTrader or TradingView.

MetaTrader 5

MT5 is the confirmed UK platform and carries both account tiers. It is the route most HFM UK clients will take. See the wider MT5 field for the alternatives.

WebTrader

WebTrader is HFM’s browser platform, confirmed for the UK entity alongside MT5, handling order entry and account management without a download.

Mobile apps

Mobile access runs through the MetaTrader mobile client rather than a proprietary HFM terminal.

We compare MT4 accounts across the UK field separately. Traders who specifically need MT4 should confirm access with HF Markets (UK) Ltd before funding an account, rather than assuming the group listing applies here.

HFM MetaTrader 4 screenshot

The capture above is HFM’s MT4 in a browser, and the title bar names the server: HFMarketsSV. SV is HF Markets (SV) Ltd, the St Vincent company, not the FCA-authorised HF Markets (UK) Ltd. That is one demo server rather than proof of the whole offer, but it points the same way as the group’s own connection guides, and it is why we treat UK MT4 as unconfirmed rather than assumed.

Trust and safety

The entity structure is the thing to understand at HFM, and it is genuinely clean once you do.

FCA regulation and global licences

HF Markets (UK) Ltd is authorised and regulated by the FCA under FRN 801701 (FCA register, checked 15 July 2026), registered office Bloomsbury Building, 10 Bloomsbury Way, Holborn, London WC1A 2SL (Companies House 11118651). HFM operates under the HF Markets Group, which also includes HF Markets (SV) Ltd (St Vincent and the Grenadines), HF Markets SA (Pty) Ltd (South Africa) and HF Markets (Seychelles) Ltd. Only HF Markets (UK) Ltd is FCA-authorised and covered by FSCS and FOS.

That matters more than it sounds. HFM’s international site advertises an InfinityX account with unlimited leverage (broker site, accessed 10 July 2026); that account belongs to the offshore entities and is not available to the FCA-regulated UK entity, whose leverage is capped at 30:1 like every other FCA broker. If you land on an HFM page offering leverage above the caps, you are not on the UK entity.

Client money, FSCS and negative balance protection

HFM’s group spans several offshore jurisdictions, which makes the entity you actually sign with the thing that matters. Client money is held in segregated accounts under the FCA’s CASS rules, separate from the firm’s own funds. Negative balance protection applies to retail accounts, so a position cannot leave you owing more than your balance. If the UK firm failed, FSCS cover runs up to £85,000 per eligible person, covering shortfalls in client money and assets rather than trading losses. Cover applies to the UK company only, not the group’s offshore entities. Disputes you cannot settle with the firm go to the Financial Ombudsman Service, whose award limits are set out on the FCA regulation guide.

History and ownership

HFM dates to 2010 and its UK entity was incorporated separately at Companies House, with a London registered office. The group is privately held and spans several offshore jurisdictions, so there are no listed-company accounts to read, and the entity you contract with matters more here than at most brokers in this set. On execution, HFM runs Zero-account orders on a raw-pricing model and publishes order-execution information on its site rather than a headline fill-speed figure we can verify for the UK entity; our latency protocol is set out on the methodology page.

Public reviews

Trustpilot shows no score for HFM. Its profile carries the notice “This company’s rating is unavailable due to a breach of our guidelines”, against 2,929 reviews (Trustpilot profile, checked 15 July 2026). Trustpilot does not publish which guideline was breached and we have not established it, so we report the status rather than the cause. It means the usual public-review signal is not available here, and no rating should be inferred from its absence in either direction. Trustpilot profiles cover the whole brand across every market, not the FCA-authorised UK entity alone, which for a group with this many offshore arms is a meaningful caveat.

Account types and minimum deposit

A multi-tier structure runs from a low-minimum entry account up to the Zero account.

Account options for UK clients

Zero carries a raw spread plus commission; Premium folds the cost into a wider spread. On the tested figures Zero is the clear choice. HFM offers no spread betting account on the UK entity, so CFD profits fall within capital gains tax. Tax treatment depends on your individual circumstances and can change.

Minimum deposit

The minimum deposit at HFM is £0, so an account can be opened and funded from any level. Few FCA brokers in our set pair a £0 minimum with raw pricing at this level.

Leverage limits for UK retail clients

Retail leverage follows the FCA caps whatever the group advertises elsewhere, and how the caps set your margin explains the rest:

Funding and withdrawals

Opening an HFM account needs £0, as the UK entity advertises no minimum initial funding. HFM does not publish a single consolidated UK funding-and-fees schedule we can reproduce here, so confirm the current methods, any charges and processing times on HFM’s UK site or with support before you fund an account. New to HFM? A demo costs nothing and answers the platform question first; how to trade on a demo first covers the rest.

Product range

Markets available cover forex, indices, commodities and share CFDs, with forex and indices the lead markets.

Forex pairs

Forex is where HFM’s Zero account earns its keep, and the majors are where the tested modal spreads above apply.

Indices, commodities and shares

Index, commodity and share CFDs are available, each under its own FCA leverage cap: 20:1 on gold and major indices, 10:1 on other commodities and non-major indices, and 5:1 on individual shares.

What UK clients cannot trade

Crypto CFDs are banned for UK retail clients under FCA PS20/10, so any crypto product the group markets elsewhere is not available to you here.

Customer service

HFM lists multiple support channels on its site, typically live chat, phone and email. We have not run timed response tests on the UK desk, so support is described from published information rather than scored from our own contact; our formal three-contact support test for this broker is not yet complete. Given the entity question, the first thing worth asking the desk is which platforms the UK company actually gives you.

Research and education

HFM publishes market analysis and educational content aimed at newer traders on its site. For a broker pitched at first-time traders through its £0 minimum, that library matters, so we note what is available on the UK site rather than rate it, pending a live assessment.

How HFM compares to alternatives

Pepperstone backs its raw pricing with a wider platform set, and Tickmill asks less in commission, so a trader counting the all-in number has cheaper doors. Eightcap matches the 0.0-pip headline and adds native TradingView. The our lowest-spread ranking ranks the wider field together, and HFM’s £0 minimum also suits a first-time trader; see the best brokers for new UK traders guide.

Should you open an account with HFM?

Yes, for cost-aware traders who want raw pricing without a funding hurdle and are happy trading on MT5 or WebTrader. On the tested figures Zero costs about £4.50 on one EUR/USD lot, which is competitive without leading, and HF Markets (UK) Ltd is a properly separated FCA entity (FRN 801701) with FSCS cover for eligible clients.

Look elsewhere if you need MT4, cTrader or TradingView, since only MT5 and WebTrader are confirmed on the UK company. Look elsewhere too if a public rating matters to your decision: Trustpilot has suspended HFM’s score, so that signal is simply unavailable. And whatever the group’s international site shows you, the account you can open here is capped at 30:1 like every other FCA broker.

We reviewed HFM on a live UK account, recording modal Zero-account spreads across three trading days in July 2026. The best FCA forex brokers are ranked together. If a low entry cost and raw pricing fit how you trade, open an HFM demo account before funding a live one (affiliate link, see our advertiser disclosure).