HFM in IN — review, licence and costs
Score (52 of 91 of 91 axes)
shown, not ranked: only 40% of the weight has data, need 55%
- Reviews25%no data
- Reviews20%no data
- Reviews20%safety 0
- Reviews15%no data
- Reviews10%track_record 80
- Reviews10%platforms 65
Key facts (52 of 91 fields)
- Onboarding entity
- HF Markets (SV) Ltd
- Founded
- 2010
- Min deposit
- no data USDIN
- Retail leverage
- 2000IN
- Round turn
- no data USDIN
- Withdrawal
- no data hIN
- Currencies
- No INR; USD.
- Swap-free account
- yes
Licence check (52 of 91 of 91 entity)
Affiliate link; the score does not change. CFDs carry a high risk of rapid loss due to leverage.
Who actually onboards you(52 of 91 local and 1 offshore entity in the group)
- Sign-up from a India addressRouted to India Pvt. Ltd. by residence, not by IP.
- KYC by India Pvt. Ltd.PAN card and proof of address.
- Contract with the Pvt. Ltd.SEBI rules apply; complaints go to SEBI.
- Client moneySegregated with a India bank; bank name no data
- HFM (India) Pvt. Ltd., SEBI INZ000308433
- Retail leverage 1:50IN
- Negative balance protection: yes
- Halden Global Ltd, FSA Seychelles
- Leverage 1:1000group
- No SEBI complaints route
If the sign-up form ever lands you on the Seychelles entity, the SEBI licence above does not cover your account.
Leverage by entity (52 of 91 of 91 entities stated)
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection (52 of 91 of 91 stated)
- Local entity onboards youUnauthorised in India; appears on RBI Alert List of unauthorised forex platforms; FEMA restricts residents to INR pairs via RBI-authorised dealers.client agreement §4.2 · page
- Segregated client fundsno dataclient agreement §4.2 · page
- Negative balance protectionno dataclient agreement §4.2 · page
- Investor compensation schemeno dataclient agreement §4.2 · page
- Regulator warning on filenone foundclient agreement §4.2 · page
“no data” 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 India market median(priced from 52 of 91 of 91)
| Instrument | Halden Raw, USD | Halden Std, USD | India median raw | India median std | Priced |
|---|
Medians run over the brokers that publish a India price, never over all 44. Group-wide prices are excluded.
Accounts(52 of 91 types)
| Account | Min deposit, USD | EURUSD spread, pips | Commission, USD | Leverage | Swap | Currencies |
|---|
Swap-free account terms (52 of 91 terms · 5 stated)
| Term | Halden, India |
|---|
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Halden sits in the India base(52 of 91 brokers)
Round-turn cost, USD (52 of 91 of 91 priced)
Highlighted: Halden Raw at 6.20
Minimum deposit, USD (52 of 91 of 91 priced)
Highlighted: Halden at 100 · India median 50
Retail leverage (52 of 91 of 91 with a India figure)
1 group-only figure excluded · 4 no data
Withdrawal time published (52 of 91 brokers)
Offshore storefront vs local (52 of 91 fields)
Payouts(52 of 91 of 91 methods timed)
| Method | Deposit, h | Withdrawal, h | Fee, USD | Min, USD |
|---|
Deposit and withdrawal methods (52 of 91 methods · 2 local)
- RBI-authorised local rails; cardslocal
- Deposit
- instant
- Withdrawal
- deposit only
- Fee
- no data
- wirelocal
- Deposit
- instant
- Withdrawal
- deposit only
- Fee
- no data
- e-wallets (FEMA-restricted)local
- Deposit
- instant
- Withdrawal
- deposit only
- Fee
- no data
- Account currency
- No INR; USD.
- Fastest withdrawal
- no data h IN
- Fee declared
- 4 of 6 methods
- Withdrawal back to
- the funding method
Where it does not serve(52 of 91 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(52 of 91 of 91 platforms confirmed · 6 asset classes)
- MT5
- MT4, MT5, HFM app
- cTrader
- MT4, MT5, HFM app
- Web terminal
- MT4, MT5, HFM app
- Mobile app
- MT4, MT5, HFM app
- Copy trading
- MT4, MT5, HFM app
- TradingView
- MT4, MT5, HFM app
| Class | Count | Min spread | Leverage |
|---|
Reviews(52 of 91 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|
Share of reviewers in India: no data The platform does not publish it.
Topics in 1-star reviews (52 of 91 reviews, snapshot 28.09.2026)
Pros and cons(52 of 91 + 5, each tied to a figure above)
- Raw round turn 6.20 USD vs India median 9.20
- SEBI licence INZ000308433, active on 01.10.2026
- INR account; bank withdrawal 24 h, fee 0
- Swap-free with no admin fee; ranked #1 of 30
- One of 6 of 44 brokers that publish a withdrawal time
- Payouts axis 58 of 100, the lowest of six
- Min deposit 100 USD vs 10 at Tidemark
- E-wallet withdrawal time and fee not published
- Group site advertises 1:1000, unavailable to Indian residents
- Gold round turn 9.80 USD; 3 brokers price it lower
Alternatives in India(52 of 91 of 91)
Methodology(52 of 91 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 India score. Full methodology
| Axis | Weight | What is measured | Halden |
|---|
FAQ(52 of 91 questions)
Cost calculator (52 of 91 accounts · median of 91 priced)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.