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HFM in South Africa — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%80
- Round-turn cost20%95
- Safety20%90
- Payouts15%80
- Track record10%80
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- SA clients served under LOCAL FSCA-licensed entity HF Markets SA (Pty) Ltd.
- Founded
- 2010
- Retail leverage
- 2000ZA
- Round turn
- 6 USDZA
- Currencies
- ZAR trading accounts offered; also USD.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with HFMThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards South Africa residents
- SA clients served under LOCAL FSCA-licensed entity HF Markets SA (Pty) Ltd.
- Local standing
- Locally regulated (positive): fund segregation, transparent pricing, local support and recourse.
- Licence as the register states it
- GENUINE local FSCA FSP licence No. 46632.
- Leverage for this entity
- Up to 1:2000 depending on instrument/equity/market conditions.
- The firm behind it
- Ex-HotForex, founded 2010, HQ Cyprus; local ZA legal entity + support.
- What we hold against it
- POSITIVE: genuine FSCA local licence with ZAR accounts. FCA clone-firm warning applies to brand generally.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youLocally regulated (positive): fund segregation, transparent pricing, local support and recourse.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against South Africa market median(priced from 80 of 103)
Medians run over the 80 of 103 brokers that publish a price for South Africa, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Cent, Zero, Pro, Premium, Islamic, 1000+ CFD instruments, low min. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where HFM sits in the South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · this broker 6 USD · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · this broker 0 USD · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · this broker 1:2000 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts(2 methods)
| Method | Deposit, h | Fee, USD | Min, USD |
|---|---|---|---|
| Cards | 24 | 0 | 50 |
| E-wallets | 24 | 0 | 50 |
Deposit and withdrawal methods (2 methods · 0 local rails)
Fast free deposits/withdrawals via local ZAR banks;
- Cards
- E-wallets
- Account currency
- ZAR trading accounts offered; also USD.
- Fee declared
- 2 of 2 methods
- Withdrawal back to
- the funding method
Where it does not serve(6 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- MT4
- MT5
- HFM app
Identical for every row: Min spread 0.6 · Leverage 2000 ZA.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.6 | 5, 2,295 |
Share of reviewers in South Africa: — The platform does not publish it.
Pros and cons(7 for and 2 against, each tied to a figure on this page)
- Round turn 6 USD on the raw + commission basis, under the South Africa median 7
- Locally authorised, licence 46632, read on 09.07.2026
- Min deposit 0 USD, under the South Africa median 50
- Withdrawal in 24 h, one of 86 of 103 brokers here that publish a time
- Swap-free account available
- Round-turn cost 95 of 100, its strongest of 6 scored axes
- 3 platforms: MT4, MT5, HFM app
- A regulator warning is on file against this broker
- Platforms 50 of 100, its weakest of 6 scored axes
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 6ZA
- Min deposit, USD
- 20ZA
- Leverage
- 30 group
- Rank in this country
- #2
- Round turn, USD
- 6ZA
- Min deposit, USD
- 10ZA
- Leverage
- 5000ZA
- Rank in this country
- #5
- Round turn, USD
- 6ZA
- Min deposit, USD
- 50 groupZA
- Leverage
- 500 group
- Rank in this country
- #4
- Round turn, USD
- 6ZA
- Min deposit, USD
- 100ZA
- Leverage
- 300ZA
- Rank in this country
- #20
- Round turn, USD
- 6ZA
- Min deposit, USD
- 25ZA
- Leverage
- 500ZA
- Rank in this country
- #6
- Round turn, USD
- 6ZA
- Min deposit, USD
- 0ZA
- Leverage
- 500ZA
- Rank in this country
- #34
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology
| Axis | Weight | What is measured | HFM |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 80 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 95 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 90 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 80 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does HFM accept residents of South Africa?
- Yes. Locally regulated (positive): fund segregation, transparent pricing, local support and recourse. Onboarding entity: SA clients served under LOCAL FSCA-licensed entity HF Markets SA (Pty) Ltd.
- Is HFM licensed to serve clients in South Africa?
- GENUINE local FSCA FSP licence No. 46632. Checked on 09.07.2026.
- How much does one round turn cost at HFM?
- About 6.0 USD per standard lot on EUR/USD. The median across brokers measured for South Africa is 7.0 USD.
- What leverage does HFM offer to retail clients in South Africa?
- Up to 1:2000. leverageGeo: Up to 1:2000 depending on instrument/equity/market conditions.
- Which trading platforms does HFM support?
- MT4, MT5, HFM app. Instruments: 1000+ CFDs: FX, metals, indices, shares, commodities, crypto.
- How can I withdraw money from HFM in South Africa?
- Fast free deposits/withdrawals via local ZAR banks; cards, e-wallets.
- What account types does HFM offer?
- Cent, Zero, Pro, Premium, Islamic; 1000+ CFD instruments; low min.
- Does HFM offer a swap-free (Islamic) account?
- Yes. HFM offers a swap-free (Islamic) account to South Africa residents.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://fxscouts.co.za
Not tax advice. Check with SARS.