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HFM vs NAGA
A field-by-field comparison based on the current BrokaBoy catalogue. Check current pricing and the regulated entity on each broker's website before deciding.
Some figures on this page are taken from broker-published information and have not yet been checked against current terms. Confirm details on the broker's website.
Last updated: 4 October 2026 · Reviewed by BrokaBoy Research Team
| Field | HFM | NAGA |
|---|---|---|
| BrokaBoy score | 9.7/10 | 6.1/10 |
| Trustpilot rating | Trustpilot 4.3 (2,948 reviews) | Trustpilot 3.4 (4,098 reviews) |
| Listed minimum deposit | $0 | $250 |
| Advertised spread from | 0.0 pips | 1.0 pips |
| Advertised maximum leverage | 1:2000 (entity dependent) | Up to 1:1000 (entity dependent) |
| Regulators | FCA, CySEC, DFSA, FSCA, CMA, FSA | CySEC, FSA, FSCA |
| Platforms | MetaTrader 4, MetaTrader 5, HFM App, HFcopy | MetaTrader 4, MetaTrader 5, NAGA Web, NAGA App |
| Instruments | Forex, Commodities, Indices, Stocks, Bonds, Crypto | Forex, Indices, Commodities, Stocks, Crypto |
| Account types | Cent, Micro, Premium, Zero Spread, Auto | Standard, Premium, Crystal |
| Founded | 2010 | 2015 |
| Spread type | Variable; raw pricing on the Zero Spread account | Variable |
| Commission | Around $6 per round-turn lot on Zero Spread; none on Micro and Premium | Varies by account type |
| Overnight / swap | Swaps charged on positions held overnight; Islamic swap-free accounts available on request | Overnight swap charges apply on positions held past rollover. |
| Withdrawals | HFM covers most withdrawal fees; third-party payment charges may apply | Most withdrawal methods are free; third-party fees may apply. |
Key differences
- HFM has a lower listed minimum deposit ($0 vs $250).
- HFM has the higher BrokaBoy score (9.7/10 vs 6.1/10).
- Both brokers hold licences with CySEC, FSCA, FSA.
- Only HFM lists HFM App, HFcopy among its platforms.
- Only NAGA lists NAGA Web, NAGA App among its platforms.
- Only HFM lists Bonds among its instruments.
Which should you choose?
- Choose HFM if a lower listed opening deposit is your priority.
- Choose HFM if access to Bonds is essential, and confirm it is available under your entity.
- Choose the broker whose regulated entity covers your country and provides the protections you need; confirm this on the regulator's register.
Frequently asked questions
Which has the lower minimum deposit, HFM or NAGA?+
HFM has the lower listed minimum deposit ($0 vs $250). Confirm current terms with each broker.
Are HFM and NAGA regulated by the same authorities?+
They share CySEC, FSCA, FSA. HFM lists FCA, CySEC, DFSA, FSCA, CMA, FSA; NAGA lists CySEC, FSA, FSCA in our catalogue.
Which has the higher BrokaBoy score?+
HFM scores 9.7/10 against 6.1/10. The score is calculated from advertised catalogue data and excludes Trustpilot ratings.
Do HFM and NAGA support the same platforms?+
Both list MetaTrader 4, MetaTrader 5.
