HFM is the brand used by HF Markets Group. The company states that it changed its name from HotForex on 2 May 2022 and that the change did not alter the group structure or how clients access trading platforms. Older material therefore still refers to HotForex.
This guide summarises the account conditions published on the official trading-accounts page and the terms of the standing Top-Up deposit bonus, both checked on 1 September 2026. It does not collect user reviews, and no figure is included here unless it can be traced to an official source.
Forex and CFD trading can result in the loss of some or all of the funds you deposit. Nothing here is a recommendation, a performance projection or a guarantee. Terms can change, so confirm the conditions shown in your own client area before depositing.
What HFM is, and why the entity matters
HFM is a brand name, not a single legal entity. HF Markets Group operates through several companies, and a licence is granted to a specific entity for a specific territory and set of services. The existence of a licence somewhere in the group does not mean the same protection applies to the account you open.
The group entities published by HFM include HF Markets (SV) Ltd in St Vincent and the Grenadines, HF Markets (UK) Ltd with the UK FCA, HF Markets (Europe) Ltd with CySEC, HF Markets (Seychelles) Ltd with the Seychelles FSA, HF Markets SA (PTY) Ltd with the South African FSCA, and HFM Investments Ltd with the Capital Markets Authority in Kenya. Of these, only the CySEC and Kenyan CMA entries were verified against the regulator's public register by this site, on 24 August 2026.
Japanese-language pages are published on the official site, and Japan's Financial Services Agency lists HF Markets (SV) Ltd among firms that conducted financial instruments business without registration in Japan. That listing records a regulatory warning; it is not a finding of fraud, but it is information a resident of Japan cannot skip when deciding whether to use the service.
- Record the entity name, address and registration number shown at registration
- Check the number against the regulator's public register, not only the broker's own page
- Do not treat a group licence as protection applied to your own account
- Keep the client agreement, risk disclosure and funding terms before depositing
Why opinions on HFM are divided
Searches for HFM often return words such as scam or suspicious. Search suggestions reflect what people type, not verified facts, so this section only sets out background that can be checked in public sources.
Three points explain most of the disagreement. First, the Japanese FSA listing described above. Second, the 2022 rename from HotForex, which left older conditions and campaign descriptions circulating alongside current ones. Third, the bonus rules: the credit itself cannot be withdrawn, a withdrawal removes a proportional share of it, and an inactive bonus account is closed after 60 days. Reading only the headline percentage makes those rules feel like a surprise later.
A fourth factor is the account structure itself. HFM publishes six account types with different spreads, minimum deposits, leverage caps and stop-out levels, so a comment that does not state the account type cannot be applied to your own situation.
- Check which account type and which period a comment refers to
- Separate the regulatory record from claims about individual transactions
- Confirm current terms in the client area rather than in third-party summaries
The six account types
The following conditions were published on the official trading-accounts page on 1 September 2026. Spreads are variable and leverage can be adjusted by account, balance, instrument and market conditions.
InfinityX: spreads from 0.3 pips, minimum deposit USD 500 / EUR 430 / JPY 80,000, leverage stated as unlimited, USD/EUR/JPY accounts, margin call 20% and stop out 0%. CENT: spreads from 1.4 pips, no minimum deposit, leverage up to 1:2000, JPY and USC accounts. ZERO: spreads from 0 on FX pairs, no minimum deposit, leverage up to 1:2000, with a separate trading commission listed on this site as USD 6 round turn per standard lot.
PRO: spreads from 0.6 pips, minimum deposit USD 100 / EUR 100 / JPY 13,000, leverage up to 1:2000. PREMIUM: spreads from 1.4 pips, no minimum deposit, leverage up to 1:2000. TOP-UP BONUS: spreads from 1.4 pips, no minimum deposit, leverage up to 1:1000, and it is the only account eligible for the standing deposit bonus. CENT, ZERO, PRO, PREMIUM and TOP-UP BONUS all show a margin call at 50% and a stop out at 20%. All six accounts are offered with MT4, MT5, WebTrader, mobile and the HFM platform, with a minimum trade size of 0.01 lots.
Two points deserve attention when comparing. A zero-spread account is not a zero-cost account once a commission is applied, so convert both into a cost per lot and multiply by the number of trades you expect. And the InfinityX stop-out level of 0% is lower than the 20% used on the other accounts, which means positions can be held to a lower margin level before they are closed.
- Compare spread and commission as a single cost per lot
- Check the stop-out level of the specific account, not the broker as a whole
- Treat a maximum leverage figure as a margin setting, not a suggested position size
- Confirm the account currency you need is available
The standing Top-Up 20% deposit bonus
HFM runs a standing bonus that credits 20% of every transfer into a Top-Up Bonus account, with a cumulative cap of USD 5,000. The official terms describe it as an offer that continues until HFM terminates or amends it (clause 2.1). It is available to fully verified clients aged 18 or over who have completed phone verification, and availability differs by region.
The bonus can be used as margin and can be lost in full through trading losses. It cannot be withdrawn under any circumstances, while profit made using it can be withdrawn without restriction (clause 3.13). Withdrawing funds removes the bonus in the same proportion as the withdrawal: the official example shows that withdrawing USD 224 of a USD 560 withdrawable balance, or 40%, removes USD 20 of a USD 50 bonus.
Two further rules are easy to miss. A bonus account with no deposit, withdrawal or trading activity for 60 days is terminated without notice, with only eligible profit moved to the wallet. And the terms allow immediate removal of the bonus where hedging across accounts, duplicate participation through multiple accounts or arbitrage is suspected. DMA instruments and ETFs cannot be traded on a bonus-enabled account.
Limited-time campaigns are run separately from this standing offer and use different eligibility, rates, caps and periods. This guide does not describe any specific limited-time campaign; check the current promotions listed on this site and on the official promotions page.
- Confirm the bonus applies only to a Top-Up Bonus account
- Complete identity verification and phone verification before depositing
- Check the rate, cap and eligibility displayed in your own client area
- Understand the proportional removal on withdrawal and the 60-day inactivity rule
- Size positions from your own funds, not from the credited amount
Funding, verification and support
The client area (myHF) and the trading account are separate. Deposits, withdrawals and additional accounts are handled in myHF, while orders are placed in MT4, MT5 or another supported platform. Knowing which side to check saves time when a transfer does not appear where you expect it.
Verification requires a valid identity document and a proof of address showing your name and current address, with the details matching your registered profile. Funding methods, minimum amounts and currencies shown in your own myHF screen take priority over any public summary, deposits must be made in your own name, and withdrawals are requested in myHF, with the official pages stating that funds are generally returned to the method used for the deposit.
This site has not measured withdrawal processing times, payment-provider fees or execution speed, so no figures for those are published here. Test the funding route with a small amount before deciding how much to hold. Japanese-language pages and a Japanese support channel are listed in our broker data; confirm current contact methods and hours on the official site, since only the broker can answer account-specific questions.
Who it suits and who it does not
HFM fits traders who are willing to run more than one account: a standard account for normal trading and a Top-Up Bonus account when they want the credit. It also fits people who want to start without a minimum deposit, since CENT, ZERO, PREMIUM and TOP-UP BONUS all show no minimum, and people who want MT4, MT5, WebTrader and a mobile app on the same broker.
It fits less well if you want a single account with the tightest possible spread, since PREMIUM starts at 1.4 pips, or if you would rather not read account-specific terms. It is also unsuitable if you only use brokers registered with the financial regulator in your own country, or if you need published figures for withdrawal times before deciding.
In this site's editorial ranking, HFM is placed second overall with a score of 4.5 as of 1 September 2026. The score weights safety 20%, trading conditions and usability 20%, spreads 15%, leverage 10%, bonuses 15%, Japanese-language support 10% and funding 10%. Execution quality, withdrawal speed and unsourced reviews are excluded because they have not been measured.
Opening an account
The published flow is: create a myHF client area with your country of residence and email address, complete the profile using the same spelling as your identity documents, upload identity and address documents, create a live account by choosing the account type, platform, account currency and leverage, then deposit in your own name and log in to the trading platform.
Decide before that final step whether you want the bonus. If you do, the Top-Up Bonus account is the eligible one and phone verification must be completed; if you do not, there is no reason to choose it over a standard account. Opening an account and starting to trade are separate decisions: confirm the funding route with a small amount first and keep trading funds separate from money you need.
- Match profile details to your identity documents exactly
- Choose the account type before depositing, not after
- Complete phone verification if you intend to use the bonus
- Review the client agreement and risk disclosure before funding
Frequently asked questions
Q. Is HFM the same company as HotForex?
A. HFM states that it changed its name from HotForex on 2 May 2022 and that the group structure and platform access did not change. Older documents still use the HotForex name, so compare entity names and registration numbers rather than brand names.
Q. Which HFM account should I choose?
A. There is no single answer. Decide first whether you want the deposit bonus, since only the Top-Up Bonus account is eligible. Then compare the minimum deposit, the combined cost of spread and commission, the leverage cap and the stop-out level for the way you intend to trade.
Q. Can the HFM bonus be withdrawn?
A. No. The official terms state that the bonus itself cannot be withdrawn under any circumstances. Profit made using it can be withdrawn without restriction, but any withdrawal removes a proportional share of the bonus.
Q. How much bonus can I receive in total?
A. The official page states 20% of each transfer into an eligible account, with a cumulative cap of USD 5,000. The rate and cap that actually apply to your profile are shown in the client area, and availability varies by region.
Q. What happens if I stop trading on a bonus account?
A. The terms state that a bonus account with no deposits, withdrawals or trading for 60 days is terminated without notice. Only eligible profit is moved to the wallet; where there is none, the bonus and profit are transferred to the company and the account is archived.
Q. Does unlimited leverage on InfinityX make it the better account?
A. Not by itself. Leverage changes the margin required, not the size of a market move. InfinityX also shows a margin call at 20% and a stop out at 0%, which is lower than the 50% and 20% used on the other accounts. Choose position size from the loss you can accept.
Sources and conditions
FX Textbook is edited from official platform documentation, broker-published information and applicable terms where available. Account conditions, services and rules can change. Confirm the current terms in the broker's registration flow before you act.
FX Textbook is an independent information site, not a broker or provider of personal investment advice. Forex and CFDs involve risk. You may lose some or all of your invested capital. No trading result is guaranteed.
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