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Forex and CFD broker

HFM

Website: hfm.com (opens in a new tab) Headquarters: Cyprus Regulatory status: Verified licence Profile updated

HFM, formerly HotForex, is a forex and CFD brand of the HF Markets group, whose parent HF Markets Holdings Ltd is incorporated in Cyprus. International clients deal with HF Markets (SV) Ltd of St Vincent and the Grenadines, which holds no licence; group companies are licensed in Cyprus (professional clients only), the UK, Seychelles and Kenya, and claim a licence in South Africa.

Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works

Verified licences

Regulator Licence Legal entity Register status Source
Cyprus Securities and Exchange Commission (CySEC) 183/12 HF Markets (Europe) Ltd Authorised Checked 5 Oct 2026 Register entry for HF Markets (Europe) Ltd (opens in a new tab) 1
Financial Conduct Authority (FCA) 801701 HF Markets (UK) Limited Authorised Checked 4 Oct 2026 Register entry for HF Markets (UK) Limited (opens in a new tab) 2
Financial Services Authority Seychelles (FSA) SD015 HF Markets (Seychelles) Ltd Authorised Checked 4 Oct 2026 Register entry for HF Markets (Seychelles) Ltd (opens in a new tab) 3
Capital Markets Authority (CMA) 155 HFM Investments Limited Authorised Checked 5 Oct 2026 Register entry for HFM Investments Limited (opens in a new tab) 6

Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.

Assessment summary

HFM, formerly HotForex, serves international clients through HF Markets (SV) Ltd, an unlicensed St Vincent company, alongside group companies licensed in the UK, Seychelles and Kenya and a Cyprus company that now takes only professional clients. Its site says client funds are segregated and protected against negative balances, and offers leverage of up to 1:2000, or unlimited on one account, but it presents professional indemnity insurance as insuring client funds, and we could not read its client agreements. The UK company’s accounts name HF Markets Holdings Ltd of Cyprus as the controlling company. The regulatory record consists of alert-list entries in Malaysia, India and Japan, a reported Philippine advisory and a 2016 CySEC fine that is now more than ten years old.

Key positives

  • Client money segregation is disclosed 11

    HFM’s security of funds page says client funds are kept in segregated accounts, separate from the company’s own funds. We could not read the client agreements.

  • Authorisations are current and unrestricted 1236

    The four licences we could check are current, with no suspension or restriction shown.

  • Retail clients have negative balance protection 11

    HFM’s security of funds page says a negative balance is automatically reset to zero, so clients cannot owe more than they deposited. We could not read the client agreements.

  • Risk warnings are clear and current 47

    Every page of the international site carries a risk warning and links to a full risk disclosure, and the EU site shows the CFD risk warning; neither site serves retail clients under a regulator that requires the share of losing accounts. The UK site has no archived copy.

Key concerns

  • Listed on Bank Negara Malaysia’s Financial Consumer Alert List 16

    Reduced the enforcement dimension by 2 points (low severity, 2.3 years before the review).

  • Listed on the Securities Commission Malaysia Investor Alert List 24

    Reduced the enforcement dimension by 2 points (low severity, 2.8 years before the review).

  • Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 17

    Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).

  • Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 19

    Reduced the enforcement dimension by 0.5 points (low severity, 9.1 years before the review, counted at a quarter of its weight).

  • Client-facing entities appear on the regulator’s register 123456

    Partly met We matched HF Markets (Europe) Ltd on CySEC’s register, HF Markets (UK) Limited on the FCA’s list, HF Markets (Seychelles) Ltd on the Seychelles FSA’s list and HFM Investments Limited on Kenya’s CMA list. We could not check the South African licence HFM claims, and HF Markets (SV) Ltd, which runs the international site, is an international business company with no licence.

Breakdown by dimension

Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.

Regulatory status and licence verification 26% of score 79 out of 100

Whether the firm’s licences exist, are current and cover what it offers.
  • Partly met

    Client-facing entities appear on the regulator’s register 123456

    We matched HF Markets (Europe) Ltd on CySEC’s register, HF Markets (UK) Limited on the FCA’s list, HF Markets (Seychelles) Ltd on the Seychelles FSA’s list and HFM Investments Limited on Kenya’s CMA list. We could not check the South African licence HFM claims, and HF Markets (SV) Ltd, which runs the international site, is an international business company with no licence.

  • Met

    Authorisations are current and unrestricted 1236

    The four licences we could check are current, with no suspension or restriction shown.

  • Partly met

    Permissions cover the services offered 12356

    CySEC authorises the Cyprus company to deal on own account and execute orders in all instrument classes, the FSA lists the Seychelles company as a securities dealer and the CMA licenses the Kenyan company as a non-dealing broker. The FCA’s published list does not show the UK company’s permissions, and HF Markets (SV) Ltd, which serves international clients, holds no licence.

  • Partly met

    Regulatory claims on the website are accurate 123567

    The licences HFM claims for its Cyprus, UK, Seychelles and Kenyan companies match the registers, but we could not check the South African licence or the DFSA licence F004885 listed on the EU site, which the international regulations page does not mention.

  • Partly met

    Clients can tell which regulated entity serves them 47

    The international site’s footer names five group companies that operate the site without saying which one contracts with international clients, although its risk disclosure is that of HF Markets (SV) Ltd. The EU site names HF Markets (Europe) Ltd and says it takes only professional clients.

Criteria and their weighting are explained in the methodology.

Corporate transparency and ownership 13% of score 75 out of 100

Whether you can find out who owns and runs the firm.
  • Partly met

    Legal entity details are published 478

    The international and EU sites give the names, registration numbers and registered addresses of the St Vincent, South African, Seychelles, UK and Cyprus companies. We could not see what HFM publishes about its Kenyan company.

  • Partly met

    Ultimate ownership can be identified 910

    The UK company’s accounts name HF Markets Holdings Ltd of Cyprus as its ultimate parent and controlling party, and Companies House records that no individual has significant control, but we found no record of who owns the holding company.

  • Partly met

    Group structure is explained 4510

    The international site lists the group companies and says which one handles payments, and the UK accounts name the Cyprus holding company and two sister companies, but HFM does not explain which company serves which clients or how they are owned.

  • Partly met

    Directors or senior managers are identified 459

    Companies House lists the UK company’s directors, but we found no management named on the HFM pages we could read.

  • Partly met

    Financial statements are available 510

    The UK company files audited accounts, most recently for 2025, and HFM says the Cyprus company and its holding company publish Pillar 3 disclosures, which we could not read. We found no financial statements for the St Vincent, Seychelles, South African or Kenyan companies.

Criteria and their weighting are explained in the methodology.

Client fund protections and disclosed safeguards 13% of score 89 out of 100

What protects client money if something goes wrong.
  • Met

    Client money segregation is disclosed 11

    HFM’s security of funds page says client funds are kept in segregated accounts, separate from the company’s own funds. We could not read the client agreements.

  • Met

    Retail clients have negative balance protection 11

    HFM’s security of funds page says a negative balance is automatically reset to zero, so clients cannot owe more than they deposited. We could not read the client agreements.

  • Partly met

    An investor compensation scheme applies 1251213

    As an FCA-authorised firm, the UK company’s eligible clients may claim from the FSCS (up to £85,000 for investments), and the Investor Compensation Fund covers clients of Cyprus investment firms such as HF Markets (Europe). We found no compensation scheme for clients of the St Vincent, Seychelles, South African and Kenyan companies.

  • Not determined

    Banking and custody arrangements are disclosed 811

    HFM’s security of funds page does not name the banks that hold client money, and we could not read the client agreements, which might.

  • Partly met

    Withdrawal terms are disclosed 1114

    HFM says withdrawals are processed instantly around the clock, and its funding page sets out deposit methods, limits and times, but the withdrawal methods, fees and conditions did not appear in the archived copy.

Criteria and their weighting are explained in the methodology.

Enforcement and substantiated adverse findings 13% of score 94 out of 100

Regulator warnings, enforcement actions and final legal findings on record.

Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 6.5 points.

  • Met

    Warning lists and enforcement records have been searched 1516171819

    We searched CySEC, FCA and CVM records and the Indian and Malaysian alert lists, and ran web searches for other actions. The searches are listed in the source note. The Japan FSA’s list of warned unregistered firms (September 2026) includes HF Markets (SV) Ltd (2017).

  • Regulator warning

    Listed on Bank Negara Malaysia’s Financial Consumer Alert List 16

    24 Jun 2024. Reduced the enforcement dimension by 2 points (low severity, 2.3 years before the review).

  • Regulator warning

    Listed on the Securities Commission Malaysia Investor Alert List 24

    1 Jan 2024. Reduced the enforcement dimension by 2 points (low severity, 2.8 years before the review).

  • Regulator warning

    Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 17

    19 Nov 2025. Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).

  • Regulator warning

    Philippine SEC advisory reported against HFM / HF Markets 25

    12 Dec 2025. Shown but not counted: it is not yet supported by a regulator, court or official record.

  • Enforcement action

    CySEC fines HF Markets (Europe) EUR 105,000 over records and outsourcing failures 15

    1 Aug 2016. Not counted: more than 10 years old at the review date.

  • Regulator warning

    Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 19

    31 Aug 2017. Reduced the enforcement dimension by 0.5 points (low severity, 9.1 years before the review, counted at a quarter of its weight).

Criteria and their weighting are explained in the methodology.

Complaint handling and documented resolutions 8% of score Not assessed: insufficient evidence

How the firm handles complaints, and what independent records show.
  • Not determined

    A complaints procedure is published 8

    We could not read the complaint procedures of the international and UK companies; no recent copy of their document pages exists.

  • Partly met

    Independent dispute resolution is available 128

    Clients of the FCA-authorised UK company can use the Financial Ombudsman Service and the Cyprus company’s clients the Financial Ombudsman of Cyprus, but we could not read the international companies’ terms to see whether their clients have an independent dispute body.

  • Not determined

    Independent complaint outcomes show no adverse pattern 20

    The ombudsman has published no decisions about HF Markets (UK) Limited in the last three years.

  • Not determined

    Complaint data is disclosed 820

    HFM’s UK company is below the thresholds for the FCA’s and the ombudsman’s firm-level tables, and we could not read the international documents page to check whether HFM publishes its own complaint statistics.

Criteria and their weighting are explained in the methodology.

Trading terms and operational transparency 8% of score 81 out of 100

Whether costs, execution and risks are disclosed before you sign up.
  • Partly met

    Costs are disclosed before account opening 1421

    The account comparison gives spreads from 0 to 1.4 pips by account, with commission on the Zero account, and deposits are free, but we found no swap rates, currency conversion charges, withdrawal fees or inactivity fee on the pages we could read.

  • Not determined

    An order execution policy is published 8

    We could not read HFM’s order execution policies; no recent copy of the international or UK documents pages exists.

  • Not determined

    The client agreement is available before sign-up 822

    The EU company publishes its agreements, but it now takes only professional clients, and we could not read the international or UK documents pages to see whether retail clients can read their agreements before signing up.

  • Partly met

    Leverage and margin terms are disclosed 821

    The account comparison gives maximum leverage of 1:2000, or unlimited on InfinityX accounts, with margin calls at 20% or 50% and stop-outs at 0% or 20%, but we could not read the UK company’s leverage terms.

  • Met

    Risk warnings are clear and current 47

    Every page of the international site carries a risk warning and links to a full risk disclosure, and the EU site shows the CFD risk warning; neither site serves retail clients under a regulator that requires the share of losing accounts. The UK site has no archived copy.

Criteria and their weighting are explained in the methodology.

Public disclosures and communication 4% of score 75 out of 100

Whether public claims hold up and the firm communicates openly.
  • Partly met

    Marketing claims are accurate and attributable 41123

    The homepage says HFM segregates and insures client funds, but the insurance it publishes is professional indemnity cover for HF Markets (SV) Ltd with a USD 5 million aggregate limit, which covers claims against the company rather than client deposits. The site also claims more than 80 industry awards and 4 million client accounts without a source.

  • Partly met

    An address and working contact channels are published 34

    The international site gives an email address, a telephone number and the companies’ registered addresses, but the address it gives for the Seychelles company differs from the one on the FSA’s register.

  • Not determined

    Material changes are communicated 822

    We could not read HFM’s client agreements to see how it gives notice of changes. The EU documents carry version dates.

Criteria and their weighting are explained in the methodology.

On-site office verification 5% of score 0 out of 100

What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.

We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.

  • Not met

    Real office at the stated address, not a ghost address

  • Not met

    Office of the assessed entity

  • Not met

    Staffed and operating

Criteria and their weighting are explained in the methodology.

On-site assessment and platform testing 10% of score Not assessed: no on-site assessment yet

What our on-site checks and 30-day platform testing found.

We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.

  • Not determined

    Company identity

  • Not determined

    Regulatory claims

  • Not determined

    Office visit

  • Not determined

    Account opening

  • Not determined

    Platform usability

  • Not determined

    Costs and disclosures

  • Not determined

    Customer support

  • Not determined

    Deposits and withdrawals

  • Not determined

    Trading functions

  • Not determined

    Complaints process

Criteria and their weighting are explained in the methodology.

Regulation and legal entities

A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.

HF Markets (Europe) Ltd

Client-facing entity · Incorporated in Cyprus · Company number HE 277582 · Professional clients and eligible counterparties only; it no longer accepts retail clients

Cyprus Securities and Exchange Commission (CySEC) · Reference 183/12 1

Check the register entry yourself (opens in a new tab)

Authorised Verified on register, 5 Oct 2026

HF Markets (UK) Limited

Client-facing entity · Incorporated in United Kingdom · Company number 11118651 · Clients in the UK, mainly retail according to its 2025 accounts

Financial Conduct Authority (FCA) · Reference 801701 2

Check the register entry yourself (opens in a new tab)

Authorised Verified on register, 4 Oct 2026

HF Markets (Seychelles) Ltd

Client-facing entity · Incorporated in Seychelles · Company number 8419176-1 · Clients of www.hfm.com/sc

Financial Services Authority Seychelles (FSA) · Reference SD015 3

Securities dealer

The register does not show licence numbers; SD015 is the number HFM gives.

Check the register entry yourself (opens in a new tab)

Authorised Verified on register, 4 Oct 2026

HF Markets (SV) Ltd

Client-facing entity · Incorporated in St. Vincent & Grenadines · Company number 22747 IBC 2015 · International clients of www.hfm.com/int; an international business company with no licence

No licence recorded for this entity.

HF Markets SA (PTY) Ltd

Client-facing entity · Incorporated in South Africa · Company number 2015/341406/07 · South African financial services provider named among the companies that operate www.hfm.com

Financial Sector Conduct Authority (FSCA) · Reference 46632 5

Claimed on HFM’s regulations page; the FSCA’s register refuses our requests.

Claimed by the firm, not yet verified

HFM Investments Limited

Client-facing entity · Incorporated in Kenya · Clients in Kenya, through www.hfm.com/ke/en/, as a non-dealing broker

Capital Markets Authority (CMA) · Reference 155 6

Non-dealing online foreign exchange broker

Check the register entry yourself (opens in a new tab)

Authorised Verified on register, 5 Oct 2026

HF Markets Fintech Services Ltd

Other · Incorporated in Cyprus · Company number HE 348222 · Provides payment services to group companies, according to HFM’s site

No licence recorded for this entity.

HF Markets Holdings Ltd

Holding or parent company · Incorporated in Cyprus · Company number HE 336491 · Ultimate parent and controlling party of the UK company, according to its accounts

No licence recorded for this entity.

Dated findings

Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.

Regulator warning Active

Philippine SEC advisory reported against HFM / HF Markets 25

· Securities and Exchange Commission (Philippines) · Philippines · Last checked 7 Oct 2026

Philippine media reported that on 12 December 2025 the Securities and Exchange Commission issued an advisory saying HFM / HF Markets was not authorised to solicit investments from the public in the Philippines and was using social media and mobile apps to attract Filipino investors. We could not access the SEC’s own advisory, so this finding rests on press reports and does not affect the score.

Regulator warning Active

Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 17

· Reserve Bank of India · India · Last checked 7 Oct 2026

The Reserve Bank of India’s Alert List, updated as on 19 November 2025, includes HotForex (www.hotforex.com) and HF Markets (www.hfm.com) among entities that are neither authorised to deal in forex under the Foreign Exchange Management Act nor authorised to operate a forex trading platform in India. The list warns residents but does not allege fraud.

Regulator warning Active

Listed on Bank Negara Malaysia’s Financial Consumer Alert List 16

· Bank Negara Malaysia · Malaysia · Last checked 7 Oct 2026

Bank Negara Malaysia’s Financial Consumer Alert List of companies and websites not authorised under the laws it administers includes “HotForex Malaysia”, added on 28 August 2017, and “HF Markets” and “HF Markets (SV) Pty Ltd” with the website www.hfm.com, added on 24 June 2024. We record the entries as one finding dated 24 June 2024.

Regulator warning Active

Listed on the Securities Commission Malaysia Investor Alert List 24

· Securities Commission Malaysia · Malaysia · Last checked 7 Oct 2026

The Securities Commission Malaysia’s Investor Alert List includes “Hot Forex” (www.hotforex.com/sv/my) under 2020, for operating a recognised market without authorisation and unlicensed dealing in securities, and “HFM / HF Markets” (www.hfm.com and www.hftrade.com) under 2024, for unlicensed dealing in securities. The list gives years without dates; we record one finding dated 1 January 2024. The entries were still on the list when we checked on 4 October 2026.

Regulator warning Active

Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 19

· Financial Services Agency (Japan) · Japan · Last checked 7 Oct 2026

On 31 August 2017 Japan’s Financial Services Agency warned HF Markets (SV) Ltd, of Kingstown, St Vincent and the Grenadines, for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service name “HotForex”.

Enforcement action Concluded

CySEC fines HF Markets (Europe) EUR 105,000 over records and outsourcing failures 15

· Cyprus Securities and Exchange Commission · Cyprus · Last checked 7 Oct 2026

On 19 August 2016 CySEC announced an administrative fine of EUR 105,000 on HF Markets (Europe) Ltd for failures including not keeping adequate records of its outsourced customer support and sales services and of the provider’s calls with clients, not supervising the outsourced service, and breaches of the professional competence directive. The decision is more than ten years old and no longer affects the score.

Company response

Firms can respond to their profile and to any finding. No response has been published for HFM. How firms can respond.

Assessment history

Review date Result Methodology Status
7 Oct 2026 Trust score 77 out of 100 Sound 1.2 Current

Corrections and updates

No corrections have been made to this profile.

Sources

  1. 1
    CySEC register: HF Markets (Europe) Ltd (opens in a new tab)

    Cyprus Securities and Exchange Commission Regulator record Checked 5 Oct 2026 Cyprus

    Licence 183/12 granted on 20 November 2012, company registration 277582, address Spyrou Kyprianou & Papanikoli 84, Office 601, 6052 Larnaca. Approved domains include www.hfeu.com. Services include reception and transmission of orders, execution of orders, dealing on own account, portfolio management and investment advice in all instrument classes, with safekeeping as an ancillary service.

  2. 2
    Financial Services Register: investment firms list (CSV), data as at 3 October 2026 (opens in a new tab)

    Financial Conduct Authority Regulator record Checked 4 Oct 2026 United Kingdom

    Shows HF Markets (UK) Limited (FRN 801701), first authorised 14 November 2018, with status Authorised.

  3. 3
    FSA Seychelles capital markets register: securities dealers (opens in a new tab)

    Financial Services Authority Seychelles Regulator record Checked 4 Oct 2026 Seychelles

    Lists HF Markets (Seychelles) Ltd among licensed securities dealers at IMAD Complex, Unit 102E, Ile du Port, Mahe, with the email legal@hfm.com and the website www.hfm.com/sc/en/. The register does not show licence numbers.

  4. 4
    HFM international homepage (archived copy) (opens in a new tab)

    HF Markets Group Company statement Checked 7 Oct 2026

    An archived copy, taken on 2 May 2026, of www.hfm.com/int/en/. The footer says HF Markets (SV) Ltd is an international business company registered in St Vincent and the Grenadines (22747 IBC 2015, Suite 305, Griffith Corporate Centre, Kingstown) and that the site is operated by HF Markets Group companies: HF Markets (SV) Ltd, HF Markets SA (PTY) Ltd (2015/341406/07, Cape Town), HF Markets (Seychelles) Ltd (8419176-1, Orion Complex, Victoria, Mahe), HF Markets Fintech Services Ltd (HE 348222, Larnaca), which provides payment services to group companies, and HF Markets (UK) Ltd (FCA 801701, London). Every page carries a risk warning without a share of losing accounts and links to a risk disclosure for HF Markets (SV) Ltd. The page offers leverage of up to 1:2000, says HFM segregates and insures client funds, and claims more than 80 industry awards, 4 million client accounts and USD 4 billion of client deposits. It gives an email address and the telephone number +44 203 097 85 71. HFM’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.

  5. 5
    HFM: regulations and licences (archived copy) (opens in a new tab)

    HF Markets Group Company statement Checked 7 Oct 2026

    An archived copy, taken on 1 May 2026, of HFM’s regulations page. It says HF Markets (SV) Ltd is registered in St Vincent and the Grenadines as an international business company, and lists the group’s licences: HF Markets (Europe) Ltd, CySEC 183/12; HF Markets (UK) Ltd, FCA 801701; HF Markets SA (PTY) Ltd, FSCA 46632; HF Markets (Seychelles) Ltd, FSA SD015; and HFM Investments Ltd, a non-dealing online forex broker licensed by Kenya’s CMA (155). It says the Cyprus company and HF Markets Holdings Ltd publish Pillar 3 disclosures. HFM’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.

  6. 6
    Capital Markets Authority licensees: non-dealing online foreign exchange brokers (opens in a new tab)

    Capital Markets Authority (Kenya) Regulator record Checked 5 Oct 2026 Kenya

    Lists HFM Investments Limited, trading as HF Markets, P.O. Box 30333-00100, Nairobi, with licence number 155 and the website www.hfm.com/ke/en/.

  7. 7
    HFM EU homepage (www.hfeu.com) (archived copy) (opens in a new tab)

    HF Markets (Europe) Ltd Company statement Checked 7 Oct 2026

    An archived copy, taken on 1 May 2026, of www.hfeu.com. It says HF Markets (Europe) Ltd (HE 277582, CySEC 183/12, Larnaca) currently accepts only eligible counterparties and professional per se clients, and lists the group’s regulators as FCA 801701, DFSA F004885, FSCA 46632, FSA SD015 and CMA 155. An archived copy of www.hfmarkets.co.uk taken on 4 May 2026 redirects to this site. HFM’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.

  8. 8
    HFM websites (opens in a new tab)

    HFM Company statement Checked 5 Oct 2026

    www.hfm.com in every region, the EU site www.hfeu.com, the UK site www.hfmarkets.co.uk and their document links refused our automated requests on 5 October 2026 with a Cloudflare check page. We read archived copies of HFM’s pages instead, but no recent copy exists of the international or UK documents pages or of the international client agreement, and the UK site has no archived copy.

  9. 9
    Companies House: HF Markets (UK) Limited (11118651) (opens in a new tab)

    Companies House Official filing Checked 5 Oct 2026 United Kingdom

    Incorporated on 19 December 2017; registered office Bloomsbury Building, 10 Bloomsbury Way, London WC1A 2SL. Directors: Marie Antoinette Boosey and Peter Owen Romilly. HF Markets Holdings Ltd of Cyprus (HE 336491) was registered as owning 75% or more until 2 March 2023; since then the company has stated that it has no registrable person or legal entity. Accounts are filed up to 31 December 2025.

  10. 10
    HF Markets (UK) Limited: annual report and audited financial statements for 2025 (opens in a new tab)

    Companies House Official filing Published 26 Jun 2026 Checked 5 Oct 2026 United Kingdom

    Audited accounts filed on 26 June 2026, a scanned document that we read with text recognition. The company provides security and commodity contract dealing services; turnover for 2025 was £521,478 and profit £98,929. Its ultimate parent and controlling party is HF Markets Holdings Ltd of Cyprus, which owns all its shares; HF Markets Ltd (Mauritius) and HFGS Ltd are named as subsidiaries of HF Holdings Ltd.

  11. 11
    HFM: security of funds (archived copy) (opens in a new tab)

    HF Markets Group Company statement Checked 7 Oct 2026

    An archived copy, taken on 9 March 2026, of HFM’s security of funds page. It says client funds are kept in segregated accounts separate from the company’s funds, that a negative balance is automatically reset to zero, that withdrawals are processed instantly around the clock, and that the company keeps a EUR 5 million insurance programme against its liabilities to clients for fraud, errors and other risks. It does not name the banks that hold client money. HFM’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.

  12. 12
    Investor Compensation Fund for IF clients: information (opens in a new tab)

    Cyprus Securities and Exchange Commission Regulator record Checked 4 Oct 2026 Cyprus

    Describes the Investor Compensation Fund for clients of Cyprus investment firms that are not credit institutions. Covered non-professional clients can claim the lower of 90% of their covered claims and EUR 20,000 if a member firm cannot meet its obligations.

  13. 13
    FSCS: investments (opens in a new tab)

    Financial Services Compensation Scheme Regulator record Checked 4 Oct 2026 United Kingdom

    For investment firms that failed after 1 April 2019, the FSCS pays up to £85,000 per eligible person, per firm. The £120,000 limit, from December 2025, is for deposits.

  14. 14
    HFM: deposit options (archived copy) (opens in a new tab)

    HF Markets Group Company statement Checked 7 Oct 2026

    An archived copy, taken on 15 November 2025, of HFM’s funding page for international clients. It lists deposit methods with minimum and maximum amounts and times, and says HFM charges no deposit fees. The withdrawal table did not load in the copy. HFM’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.

  15. 15
    CySEC board decision: HF Markets (Europe) Ltd (opens in a new tab)

    Cyprus Securities and Exchange Commission Regulator record Published 19 Aug 2016 Checked 5 Oct 2026 Cyprus

    Announced on 19 August 2016: an administrative fine of EUR 105,000 on HF Markets (Europe) Ltd for failures including not keeping adequate records of its outsourced customer support and sales services and of the provider’s calls with clients, not supervising the outsourced service, and breaches of the professional competence directive.

  16. 16
    Financial Consumer Alert List (opens in a new tab)

    Bank Negara Malaysia Regulator record Checked 4 Oct 2026 Malaysia

    Lists companies and websites that are not authorised or approved under the laws Bank Negara Malaysia administers. Includes “HotForex Malaysia”, added on 28 August 2017 with hotforex.com pages and a Facebook page, and “HF Markets” and “HF Markets (SV) Pty Ltd” with the website www.hfm.com, added on 24 June 2024.

  17. 17
    Alert List (updated as on 19 November 2025) (opens in a new tab)

    Reserve Bank of India Regulator record Published 19 Nov 2025 Checked 4 Oct 2026 India

    Lists entities not authorised to deal in forex or operate forex trading platforms in India. Entry 20 is HotForex (www.hotforex.com) and entry 67 is HF Markets (www.hfm.com).

  18. 18
    Searches of CySEC, FCA and CVM records and the Indian, Malaysian and Philippine alerts for HFM companies (opens in a new tab)

    Cyprus Securities and Exchange Commission; and others Regulator record Checked 5 Oct 2026

    On 5 October 2026 we searched CySEC’s 1,173 board decisions, the FCA’s list, the CVM’s declaratory acts, KNF’s lists and the Indian, Securities Commission Malaysia and Bank Negara Malaysia alert lists, and ran web searches for actions by the FSCA, the DFSA, the CMA in Kenya, the Philippine SEC and others. The findings on this profile are what we found.

  19. 19
    Names of unregistered overseas firms warned by the Financial Services Agency (updated 25 September 2026) (opens in a new tab)

    Financial Services Agency of Japan Regulator record Published 25 Sept 2026 Checked 6 Oct 2026 Japan

    Lists HF Markets (SV) Ltd, Kingstown, St Vincent and the Grenadines, warned on 31 August 2017 for soliciting over-the-counter derivatives trading over the internet without registration in Japan; the service named is “HotForex”.

  20. 20
    FCA firm-level complaints data 2025 H2 and Financial Ombudsman business complaints data (July 2025 to March 2026) (opens in a new tab)

    Financial Conduct Authority; Financial Ombudsman Service Regulator record Checked 4 Oct 2026 United Kingdom

    Neither dataset includes HF Markets (UK) Limited, and the ombudsman has published no decisions about it; both datasets publish firm-level figures only above minimum complaint volumes.

  21. 21
    HFM: compare trading accounts (archived copy) (opens in a new tab)

    HF Markets Group Company statement Checked 7 Oct 2026

    An archived copy, taken on 23 May 2026, of HFM’s account comparison for international clients. Spreads start from 0.3 pips (InfinityX), 1.4 (Cent and Premium), 0.6 (Pro) and 0 on forex (Zero, with commission); maximum leverage is unlimited on InfinityX and 1:2000 on the other accounts; margin call is 20% on InfinityX and 50% on the others; stop-out is 0% on InfinityX and 20% on the others. HFM’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.

  22. 22
    HFM EU legal documentation (archived copy) (opens in a new tab)

    HF Markets (Europe) Ltd Company statement Checked 7 Oct 2026

    An archived copy, taken on 11 October 2025, of HF Markets (Europe) Ltd’s documents page. It lists dated documents, among them the account opening agreement (January 2025), terms of business, complaint handling and withdrawal conditions (January 2024), and the order execution, leverage and costs policies (February 2024), and says the company accepts only professional per se clients and eligible counterparties. HFM’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.

  23. 23
    Confirmation of insurance for HF Markets (SV) Ltd (opens in a new tab)

    Marsh Insurance Brokers Limited, published by HFM Company document Published 15 Jul 2026 Checked 7 Oct 2026

    Dated 15 July 2026 and linked from HFM’s security of funds page. Marsh confirms professional indemnity insurance for HF Markets (SV) Ltd under a group policy with Lloyd’s, from 8 July 2026 to 7 July 2027, with a limit of USD 5,000,000 for any one claim and in the aggregate, including defence costs.

  24. 24
    Investor Alert List (opens in a new tab)

    Securities Commission Malaysia Regulator record Checked 4 Oct 2026 Malaysia

    Includes entries dated 2020 for “Hot Forex” (www.hotforex.com/sv/my) for operating a recognised market without authorisation and unlicensed dealing in securities, and 2024 for “HFM / HF Markets” (www.hftrade.com, www.hfm.com and a Facebook page) for unlicensed dealing in securities. Other 2022 and 2024 entries using the names are potential clones.

  25. 25
    Regulators flag Exness and HFM for illegal operations (opens in a new tab)

    Fintech News Philippines Secondary reporting Checked 4 Oct 2026 Philippines

    Reports that in advisories released on 12 December 2025 the Philippine SEC said HFM / HF Markets was not authorised to solicit investments from the public in the Philippines and was using social media and mobile apps to attract Filipino investors.

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