Updated: 07/11/2024

HFM

HFM Review

4.9 / 5
3221 ratings
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.10 Jul 2024
author avatar image Chad Smith

Table of Contents

Introduction

HFM Main Features
Feature Title Feature Value
🗺️ Year Founded 2010
🏢 Headquarters Cyprus
⚖️ Tier-1 Licenses 1
⚖️ Tier-2 Licenses 4
⚖️ Tier-3 Licenses 3
Minimum Initial Deposit $0
No. of Trading Platforms 2
No. of Trading Accounts Types 5
Demo Trading Yes
Leverage (EU Clients) Up to 1:30
Leverage(Non-EU-Clients) Up to 1:2000
Average Spread EURUSD 1.2 pips
💰 Withdrawal fee No
Withdrawal Time 1-2 business days
💰 Inactivity Fee No

If you’re looking for a reliable broker, HFM (formerly known as HotForex) stands out for its robust range of trading features and tools. Known for its high-speed platform and extensive teaching materials, HFM provides a comprehensive service for traders of all levels. With offerings like multiple account types, competitive spreads, and high-leverage options, there’s plenty to keep your trading activities dynamic and effective.

HFM also excels in client support and user experience. The platform is designed to be smooth and user-friendly, allowing you to focus on your trading strategies rather than getting bogged down by technical issues. Customers have praised HFM for its fast deposits and withdrawals, which add to the platform’s efficiency and reliability.

Safety remains a top priority with HFM. They are a well-regulated broker, ensuring your investments are secure. From beginner traders to experienced investors, HFM offers a dependable trading environment that caters to diverse needs and trading styles.

Key Takeaways

  • HFM offers multiple account types and competitive spreads.
  • The platform is user-friendly, with fast deposits and withdrawals.
  • HFM is well-regulated for secure trading.

Overview of HFM

HFM, also known as HF Markets, is a well-recognised broker that offers a range of trading services. It is known for its regulation by various prominent financial authorities and boasts a high trust score, reflecting its reliability and safety.

Company Background

HFM, previously known as HotForex, has built a reputation as a reliable Forex and CFD broker. The company offers various account types to suit different trading needs. Traders can access multiple financial markets and instruments, including Forex, commodities, indices, etc.

The broker provides platforms with user-friendly interfaces, making them accessible to beginners and experienced traders. Additionally, HFM prides itself on fast transaction speeds, ensuring smooth deposits and withdrawals. Numerous positive reviews highlight the efficiency and trustworthiness of its services.

Regulatory Compliance and Licensing

HFM is regulated by several reputable financial authorities, ensuring it adheres to high standards of operation. These include:

EntityRegulatory AuthorityRegionLicense NumberDetails
HF Markets (UK) LtdFinancial Conduct Authority (FCA)United Kingdom801701Regulated for providing financial services in the UK, ensuring compliance with stringent financial regulations.
HF Markets (DIFC) LtdDubai Financial Services Authority (DFSA)Dubai, UAEF004885Authorized and regulated to provide financial services in Dubai, adhering to the laws and regulations of the DFSA.
HF Markets SA (PTY) LtdFinancial Sector Conduct Authority (FSCA)South Africa46632Licensed as a Financial Service Provider, offering a secure trading environment and ensuring investor protection.
HF Markets (Seychelles) LtdSeychelles Financial Services Authority (FSA)SeychellesSD015Regulated to provide financial services in Seychelles, ensuring compliance with local financial laws and regulations.
HF Markets (SV) LtdSt. Vincent & the Grenadines Financial Services Authority (FSA)St. Vincent & the Grenadines22747 IBC 2015Registered as an International Business Company, offering various financial services in accordance with local regulations.
HFM Investments LtdCapital Markets Authority (CMA)Kenya155Authorized as a non-dealing online foreign exchange broker, adhering to Kenyan financial regulations.

Key Points:

  1. Multiple Regulatory Bodies: HF Markets Ltd (HFM) is regulated by several financial authorities across different regions, providing a robust and compliant trading environment.
  2. Global Presence: HFM operates in key financial jurisdictions, including the UK, UAE, South Africa, Seychelles, St. Vincent & the Grenadines, and Kenya.
  3. Investor Protection: The company is committed to ensuring investor protection by complying with stringent financial regulations in each region it operates in.

These regulations help safeguard your investments and ensure transparency in HFM’s operations. Being regulated by multiple authorities boosts HFM’s credibility and offers more excellent protection. Moreover, the broker’s high trust score further confirms its dependable nature, giving you the confidence to trade securely.

Account Features

HFM offers a variety of account types tailored to different trading needs, from beginners to professional traders. You will find flexible demo accounts for practice and premium services that cater to high-rollers.

Different Account Types

Here’s a comprehensive table outlining the relevant account types for HF Markets Ltd (HFM), designed to inform traders in a review:

Account TypeTrading PlatformMinimum DepositMax LeverageMinimum Trading LotSpreads (EUR/USD)CommissionsBase CurrencyTrading InstrumentsEA AllowedHedging AllowedScalping AllowedNegative Balance ProtectionIslamic Account
CentMT4, MT5, WebTrader, Mobile Trading$01:20000.01 LotFrom 1.2 pipsNoUSCForex, GoldYesYesYesYesYes
ZeroMT4, MT5, WebTrader, Mobile Trading$01:20000.01 LotFrom 0.0 pipsYes on Forex PairsUSD, EUR, NGN, JPY, IDRForex, Metals, Energies, CFD Stocks, Indices, Bonds, Commodities, ETFs, CryptocurrenciesYesYesYesYesYes
ProMT4, MT5, WebTrader, Mobile Trading$1001:20000.01 LotFrom 0.6 pipsNoUSD, EUR, NGN, JPY, IDRForex, Metals, Energies, CFD Stocks, Indices, Bonds, Commodities, ETFs, CryptocurrenciesYesYesYesYesYes
PremiumMT4, MT5, WebTrader, Mobile Trading$01:20000.01 LotFrom 1.2 pipsNoUSD, EUR, NGN, JPY, IDRForex, Metals, Energies, CFD Stocks, Indices, Bonds, Commodities, ETFs, CryptocurrenciesYesYesYesYesYes
Top-Up BonusMT4, MT5, WebTrader, Mobile Trading$01:10000.01 LotFrom 1.4 pipsNoUSD, NGN, ZAR, JPY, IDRForex, Metals, Energies, CFD Stocks, Indices, Bonds, Commodities, ETFs, CryptocurrenciesYesYesYesYesYes

Key Features:

  • Cent Account: Ideal for new traders transitioning from demo to live trading with low capital requirements. Spreads start from 1.2 pips, no commission, and high leverage up to 1:2000.
  • Zero Account: Designed for traders seeking low-cost trading with raw spreads from 0.0 pips and a small commission of $0.03 per 1k lot. Supports all trading instruments.
  • Pro Account: Suitable for experienced traders, offering floating spreads from 0.6 pips, no commission, and access to all trading instruments.
  • Premium Account: Provides flexibility with no minimum deposit, spreads from 1.2 pips, no commission, and access to a wide range of trading instruments.
  • Top-Up Bonus Account: Offers bonuses on deposits with higher spreads from 1.4 pips, leverage up to 1:1000, and supports all trading instruments.

HFM provides several account types to suit different trading preferences. Micro Account is ideal for beginners, allowing trades with tiny amounts (0.01 lots). The Premium Account appeals to more experienced traders with considerable capital and lower spreads. If you are a professional, the Zero Account offers ultra-tight spreads starting from 0 pips and charges a small commission on trades. Additionally, HFM offers Cent Accounts that allow you to trade with smaller units, making it easier to manage your risk effectively.

Demo Account Provisions

The demo account is a critical feature for new traders to hone their skills. At HFM, you can open a demo account which simulates real trading conditions without risking actual money. This account provides virtual capital, allowing you to practice trading strategies and understand the platform’s functionalities. You can use the demo account to explore various trading instruments like Forex, Commodities, and CFDs. The unlimited usage period of the demo account ensures ample time to gain the confidence needed before switching to a live account.

Premium and VIP Services

For traders looking for additional perks, HFM offers premium services. Premium Accounts have lower spreads, exclusive insights, and market analysis access. You can also benefit from higher leverage, allowing more significant trading positions. HFM’s VIP Services cater to high-net-worth individuals. With a VIP account, you receive personalised customer support, faster withdrawal processes, and unique trading conditions tailored to your needs. These services aim to provide a robust trading environment, ensuring you have all the tools and support required for successful trading experiences.

Trading Platforms and Tools

  • Trading Platforms
  • No. of Trading Platforms
  • Proprietary Platform
  • Desktop Platform (Windows)
  • Web Platform
  • Social Trading / Copy Trading
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • cTrader
  • TradingView
  • DupliTrade
  • ZuluTrade
  • Review Link
  • 2
  • No
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • Yes
  • No
  • No
  • No
  • 6
  • No
  • No
  • Yes
  • Yes
  • No
  • Yes
  • Yes
  • Yes
  • Yes
  • No
  • No
  • No
  • Yes
  • Yes
  • No
  • Yes
  • Yes
  • Yes
  • Yes
  • No

HFM offers robust trading platforms and tools catering to beginners and experienced traders. The platforms include MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are known for their advanced features and user-friendliness. Mobile trading is also available on Android and iOS, ensuring you can trade on the go.

Metatrader Integration

HFM supports both MT4 and MT5, popular trading platforms in the industry. MT4 is renowned for its simplicity and effectiveness. It provides a range of indicators, charting tools, and expert advisors (EAs) that automate trading strategies.

The newer version, MT5, builds on MT4’s strengths while adding more features, such as improved charting tools and additional order types. You can execute trades with just one click, and the platform supports multiple chart windows.

Both platforms are available for desktop and web, allowing flexibility in managing your trades. MT4 and MT5’s stability and reliability suit different trading styles and needs.

Mobile Trading on Android and iOS

For those who prefer to trade on mobile devices, HFM offers dedicated apps for both Android and iOS. These apps provide a sleek, user-friendly interface that mirrors the desktop versions. You can access real-time quotes, interactive charts, and technical analysis tools.

Trading on mobile doesn’t limit your capabilities. You can place and manage orders, analyse markets, and track performance, ensuring you never miss an opportunity. The apps are designed to be responsive and fast, so your trading experience is smooth and efficient even when you’re on the move.

Moreover, these mobile platforms are constantly updated to ensure security and new features, helping you stay ahead in the trading world.

Financial Instruments Offered

HFM Broker offers various financial instruments to suit different trading preferences. These include Forex pairs, CFDs on multiple assets, cryptocurrencies, and commodity trading.

Here’s a comprehensive table outlining the number of instruments offered by HFM:

Instrument TypeNumber of InstrumentsDescription
Forex50+Major, minor, and exotic currency pairs with high liquidity and 24-hour trading.
Stocks120+Individual stocks from leading global companies, providing opportunities to invest in specific sectors.
Indices23+Stock indices from major global markets, ideal for speculating on overall market performance.
Commodities19+Includes precious metals, energy commodities, and other raw materials, suitable for hedging and diversification.
Cryptocurrencies5+Major cryptocurrencies, offering high volatility and potential for significant returns.
ETFs20+Exchange-traded funds that track indices, sectors, or commodities, suitable for diversified investment.
Bonds5+Government and corporate bonds, providing fixed income opportunities.

Key Points:

  • Forex: HFM offers over 50 currency pairs, covering major, minor, and exotic pairs, making it a robust option for currency traders.
  • Stocks: With more than 120 individual stocks available, traders can invest in shares from various global companies.
  • Indices: The platform provides access to over 23 stock indices, enabling traders to speculate on the performance of entire markets.
  • Commodities: Traders can engage with over 19 commodities, including metals, energy products, and other essential resources.
  • Cryptocurrencies: HFM supports at least 5 major cryptocurrencies, allowing traders to capitalize on the volatility of digital assets.
  • ETFs: More than 20 exchange-traded funds allow diversified investments across various sectors and markets.
  • Bonds: HFM offers trading in over five different bonds, providing stable and predictable returns through fixed-income securities.

Forex Pairs and CFDs on Various Assets

HFM offers Forex pairs, including major, minor, and exotic currency pairs. You can trade popular pairs like EUR/USD, GBP/USD, and USD/JPY, providing ample opportunity for profit through currency fluctuations.

In addition to Forex, HFM facilitates Contracts for Difference (CFDs) on various assets, including stocks, indices, bonds, and ETFs. CFDs allow you to speculate on price movements without owning the underlying assets, offering flexibility and the potential for leveraged gains.

HFM also provides CFDs on metals such as gold and silver, enabling you to diversify your trading portfolio. These instruments are essential for traders looking for short-term and long-term trading opportunities.

Cryptocurrencies and Commodity Trading

If you’re interested in digital assets, HFM supports trading in cryptocurrencies. You can trade well-known cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). This allows you to take advantage of the volatility and growth potential in the crypto market.

HFM offers contracts on commodities like crude oil, natural gas, and agricultural products for those inclined towards commodity trading. Commodities hedge against inflation and are a popular choice for diversified investment strategies.

With ultra-fast execution and competitive spreads, HFM aims to provide an efficient and robust trading environment. This setup ensures you can effectively capitalise on market movements, whether trading currencies, CFDs, cryptocurrencies, or commodities.

Costs and Commissions

Understanding the costs and commissions with HFM is crucial to making informed trading decisions. Key points include spreads, leverage, commissions, and margin requirements.

Understanding Spreads and Leverage

HFM offers a variety of spreads depending on the account type. For standard accounts, spreads start from 1 pip. The Zero Spread Account provides spreads from 0 pips but incurs a commission per trade.

Leverage can go up to 1:200, which means you can control larger positions with less capital. Higher leverage can boost potential profits but also increase risk. Carefully consider spreads and leverage, especially if you’re new to trading.

  • Average Spread
  • Average Spread EURUSD – Standard
  • Average Spread USDJPY – Standard
  • Average Spread GBPUSD- Standard
  • Average Spread BTCUSD – Standard
  • Average Spread XAUUSD – Standard
  • Average Spread OILUSD – Standard
  • Review Link
  • 1.2 pips
  • 1.3 pips
  • 0.3 pips
  • 1.9 pips
  • $40
  • 0.03 pips
  • 0.09 pips
  • 0.15 pips
  • 22.8 pips
  • 0.45 pips
  • 11.25 pips
  • 4.0 pips
  • 0.8 pips
  • 0.8 pips
  • 17 pips
  • 1.1 pips
  • 20 pips
  • 3.0 pips

Commission Structures and Margin Requirements

You pay commissions as low as $3 per trade for the Zero Spread Account. Other account types might include trades without additional commission but with wider spreads.

HFM has flexible margin requirements, ensuring you have the funds to cover your open positions. For instance, with 1:200 leverage, a £5000 position might only need a £25 margin. Monitoring and understanding margin calls are vital to prevent unexpected losses. Inform yourself about your specific account’s costs and margin rules to manage your trading effectively.

Support Services

HFM offers robust support services, featuring numerous customer support channels and a range of educational resources designed to assist traders.

Customer Support Channels

ChannelDetails
Email SupportEmail: support@hfm.com – Available for general inquiries, technical support, and account assistance.
Phone SupportPhone: +44-203 097 85 71 – Available for direct support during business hours.
Live ChatAvailable on the HFM website for real-time assistance and instant support.
Social MediaFacebook: HFM Broker <br> Twitter: HFM Broker <br> Instagram: HFM Broker <br> YouTube: HFM Broker <br> LinkedIn: HFM Broker <br> Telegram: HFM Broker
FAQ SectionAvailable on the HFM website, covering common questions and detailed guides.
Help CenterComprehensive help center on the HFM website with articles and tutorials for self-service support.

HFM provides multiple customer support options to ensure you can get help whenever needed. Their live chat feature is responsive, and quick response times are frequently mentioned in user reviews. Additionally, you can contact customer service via email or phone if you prefer these methods.

For personalised assistance, you can request an account manager who can provide tailored support and guidance. This can be especially useful for new traders needing more hands-on help. HFM also responds to negative reviews, showing its dedication to resolving customer issues.

Educational Resources for Traders

ResourceDetails
ArticlesA collection of articles covering various trading topics, market analysis, and trading strategies.
WebinarsRegular webinars hosted by trading experts, covering a range of topics from basics to advanced trading techniques.
Video TutorialsVideo content explaining platform features, trading strategies, and market analysis.
Trading CoursesStructured courses designed for beginners to advanced traders, covering fundamental and technical analysis.
Economic CalendarA tool showing upcoming economic events, their expected impact, and historical data.
E-booksFree e-books available for download, covering a range of trading topics and strategies.
GlossaryA comprehensive glossary of trading terms to help traders understand industry jargon.
Market AnalysisRegularly updated market analysis and news provided by HFM’s team of experts.

HFM is committed to educating its clients by offering a variety of educational resources. These include detailed tutorials, webinars, and eCourses for different skill levels, from beginners to advanced traders.

The broker also provides a glossary of trading terms and an FAQ section on its website to help you understand more about trading and its platform. Regular market analysis reports and financial news updates are also available to inform you about the latest market trends.

User Experience and Client Feedback

HFM has made a strong impression with its focus on user experience and positive client feedback. Its platform usability and reputation among clients are vital aspects to consider.

Review SiteRatingNumber of ReviewsSummary
Trustpilot4.5/51,200+Generally positive feedback highlighting excellent customer service, fast withdrawals, and a reliable trading platform.
Forex Peace Army3.7/5557Mixed reviews with praise for their trading conditions and account options, but some concerns about specific issues like slippage and execution speed.
Sitejabber4.5/5103High ratings focusing on robust infrastructure, extensive educational materials, and a responsive platform.
Google Reviews4.3/5400+Positive feedback on customer service and platform reliability, with occasional mentions of improvement areas in mobile app functionality.

Platform Usability and Accessibility

HFM provides a seamless platform that is user-friendly and accessible. The interface is designed to be intuitive, ensuring users can easily navigate. Both beginners and experienced traders appreciate the clear design and functionality.

The platform supports multiple devices, including desktops, tablets, and smartphones. This flexibility means you can trade on the go without sacrificing reliability or performance. Deposits and withdrawals are reported to be quick and straightforward, enhancing the overall user experience.

Reputation and Client Reviews

Clients have shared predominantly positive reviews about HFM. Many praise its efficiency and customer support. Users appreciate the broker’s responsiveness to issues, with many confirming prompt and helpful replies. Negative reviews are addressed efficiently, which builds client trust.

The broker has received commendations from both novice and professional traders. Statistics indicate a robust client satisfaction level, with many users expressing loyalty. Transparency and honesty in communication are common themes in positive feedback about HFM.
Conclusion

Conclusion

In conclusion, HFM proves itself as a premier broker through its robust trading experience and exceptional customer service. Boasting authorization from esteemed regulatory bodies, HFM ensures a secure and regulated trading environment. Beyond regulatory compliance, HFM excels in providing traders with a seamless trading experience, offering a diverse range of instruments and competitive trading conditions.

Moreover, its commitment to outstanding customer service, demonstrated through responsive support and personalized assistance, further enhances the trader’s journey. For those seeking a broker that combines reliability, transparency, and stellar customer care, HFM is a highly recommended choice in the competitive forex market landscape.

Frequently Asked Questions

Here, you will find answers to common queries about trading with HFM, including details on spreads, safety measures, withdrawal procedures, account types, and more.

What are the spreads typically offered by HFM?

HFM offers competitive spreads, with some Forex spreads starting as low as 0 pips. These spreads can vary depending on the specific currency pair and market conditions.

How does HFM ensure the safety of client funds?

HFM ensures the safety of client funds through strict regulatory compliance and segregated accounts. This means client funds are kept separate from the company’s funds, providing added security.

What are the procedures and processing times for withdrawals at HFM?

Withdrawals at HFM are processed promptly, with many processed within 24 hours. The exact time can depend on the withdrawal method chosen, but typically, it should not take more than a few business days.

What types of accounts does HFM offer to traders?

HFM provides a variety of account types to suit different trading needs, including Micro, Premium, Zero Spread, and VIP accounts. Each account type has its features and benefits tailored to varying levels of traders.

How can one access their HFM trading account?

You can access your HFM trading account through the HFM online or mobile. Both interfaces are user-friendly and allow for efficient trading and account management.

Are there any bonuses or promotions currently available from HFM?

HFM often has various bonuses and promotions. They must check their official website for the most up-to-date information on current offers and eligibility criteria.

author avatar image
Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

HFM

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