Admirals vs HFM (2026): regulation, platforms and costs compared

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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan

Admirals

Trust rank #13 · Founded 2001

Admirals is a well-regarded forex and CFD broker offering broad market access, user-friendly platforms, and integrated research and education. It provides a range of account options and risk management tools under established…

Read the Admirals review

HFM

Trust rank #29 · Founded 2010

HFM (formerly HotForex) is a well-regarded forex and CFD broker offering broad market access through popular platforms, varied account types, and risk management tools. It provides research, education, and multilingual support with…

Read the HFM review

Admirals (Estonia, founded 2001) holds 5 regulatory licences (ASIC, CySEC, FCA, FSCA, JSC), 2 of them tier-1, offers MT4, MT5 and sits in our low-fee bracket. HFM (Cyprus, founded 2010) holds 4 regulatory licences (CySEC, DFSA, FCA, FSCA), 1 of them tier-1, offers MT4, MT5 and sits in our low-fee bracket. The two overlap in 226 countries; Admirals is available in 2 countries where HFM is not, and HFM in 2 where Admirals is not.

Verdict at a glance

  • Admirals leads on trust rank, track record, regulatory coverage, instrument range and tier-1 licences.
  • Level on platform choice, country coverage and fee level.

Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.

Admirals vs HFM: side-by-side data

CriteriaAdmiralsHFM
Trust rank#13#29
Founded20012010
HeadquartersEstoniaCyprus
RegulatorsASIC, CySEC, FCA, FSCA, JSCCySEC, DFSA, FCA, FSCA
Broker typeMarket Maker, STPMarket Maker, STP
PlatformsMT4, MT5MT4, MT5
InstrumentsCommodities, Cryptocurrencies, Forex, Indices, MetalsCommodities, Forex, Indices, Metals
Countries accepted228 countries228 countries
Fee levelLowLow
Trading typesCFD Trading, Spot TradingCFD Trading, Spot Trading
Best-for use casesProfessional Trading, Retail TradingCopy Trading, Retail Trading

Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.

Pros

Admirals

  • FCA, ASIC, CySEC regulation
  • MT4/MT5 with MetaTrader Supreme Edition
  • Zero Accounts with raw spreads and low commissions
  • Wide multi-asset range (FX, indices, commodities, stocks, ETFs, crypto CFDs)
  • Volatility Protection and negative balance protection

HFM

  • Multi-jurisdiction regulation
  • Zero Spread account option
  • MT4 and MT5 platform support
  • Copy trading and PAMM/MAM
  • Wide range of tradable instruments

Cons

Admirals

  • Charges inactivity fee
  • Limited free withdrawals
  • No cTrader platform support
  • Leverage capped at 1:30 for EU/UK retail
  • Not available to U.S. residents

HFM

  • Offshore entity onboarding with weaker regulatory oversight (St. Vincent & the Grenadines)
  • MT4/MT5-only platform choice; no cTrader
  • No guaranteed stop-loss orders (GSLO)
  • Negative balance protection not guaranteed across all entities
  • No investor compensation scheme for offshore clients

Key features

Admirals

  • Forex and CFD trading on MetaTrader 4 and MetaTrader 5
  • Invest MT5 real stocks and ETFs
  • Multi jurisdiction regulation and segregated client funds
  • Negative balance protection and volatility protection
  • Zero account raw spreads with market execution
  • MetaTrader Supreme Edition and premium analytics

HFM

  • Multi asset CFD trading across Forex Indices Commodities Metals Energies and Shares
  • MetaTrader 4 and MetaTrader 5 platforms with desktop web and mobile
  • Copy trading via HFCopy and PAMM account options
  • Zero Spread and other account types with raw pricing and low latency execution
  • Advanced tools including VPS hosting and Autochartist
  • Multi jurisdiction regulation client fund segregation and negative balance protection

Country availability: Admirals vs HFM

Available at both (226): Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island and 186 more.

Only Admirals (2): Türkiye, United Arab Emirates.

Only HFM (2): Belgium, Japan.

Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.

Admirals vs HFM: common questions

Which broker is more regulated, Admirals or HFM?

Admirals holds more regulatory licences: Admirals (ASIC, CySEC, FCA, FSCA, JSC) versus HFM (CySEC, DFSA, FCA, FSCA). Tier-1 licences: Admirals 2, HFM 1.

Which trading platforms do Admirals and HFM offer?

Admirals offers MT4, MT5; HFM offers MT4, MT5.

Which has lower fees, Admirals or HFM?

Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.

Which is older, Admirals or HFM?

Admirals is the older of the two, founded in 2001; HFM was founded in 2010.

Are Admirals and HFM available in the same countries?

They overlap in 226 countries. Admirals is additionally available in 2 countries (Türkiye, United Arab Emirates) and HFM in 2 countries (Belgium, Japan).

Keep comparing

Admirals

HFM

Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.