Overview: HFM Islamic account
HFM (formerly HotForex), founded in 2010, offers dedicated Islamic account types -- Micro Islamic and Premium Islamic -- with FCA regulation for UK clients. The swap-free structure carries no stated admin fee, and no time limit applies.
Pros & cons
Pros
- FCA regulated with FSCS
- $0 minimum deposit
- Dedicated Islamic account
- No admin fee stated
- Multi-jurisdiction regulation
Cons
- MT4/MT5 only
- Must request conversion
- Post-rebrand docs unclear
Swap-free structure
HFM provides dedicated Islamic account variants. Swap charges are removed entirely. The terms do not reference any replacement admin fee, daily charge, or storage cost, making this one of the simpler Islamic account structures.
| Swap-free model | True swap-free on Islamic account |
| Availability | Request via support |
| Time limit | Unlimited |
| Admin fee | None stated |
| Islamic account types | Islamic Micro, Islamic Premium |
Hidden fee analysis
We did not identify any explicit hidden fee that replaces the swap charge. However, the post-rebrand (from HotForex to HFM) documentation is sometimes unclear. We recommend verifying the current Islamic account terms directly with HFM support before committing.
Regulation & safety
FCA 801701 (UK), CySEC 183/12 (EU), DFSA F004885 (Dubai), FSCA (South Africa). UK clients benefit from FSCS protection.
| Regulators | FCA, CySEC, DFSA, FSCA |
| Licences | FCA 801701, CySEC 183/12 |
| Min deposit | $0 |
| Max leverage | 1:2000 |
| Spreads from | 0.0 pips (Zero) |
| Platforms | MT4, MT5 |
Platforms
HFM supports: MT4, MT5.