HFM Review
HFM is a broker that lets you trade Forex and Commodities. HFM is previously known as HotForex.
HFM offers different types of trading services. You can choose from 7 account types and trading platforms. HFM offers CFD trading on 7 account types and trading platforms with spreads as low as 0.1 EUR/USD on average, and operates with unlimited liquidity. This means that anyone, no matter how much money they have or what kind of trader they are, can use automated trading platforms and different trading strategies, including News trading.
The company started in 2010 and is based in Cyprus. But it also has offices in other places like Dubai, South Africa, and St Vincent and the Grenadines.
HFM is most popular in Africa, Asia, and the MENA region. This is good news for people all around the world because it means they have more opportunities to trade and make money.
HFM follows all the rules and regulations in the regions where it operates. This means you can trust them to give you good service.
HFM Pros and Cons
| PROS | CONS |
| FCA, CySEC, South Africa | Offering services internationally through offshore methods |
| No minimum deposit required | Conversion fee may be applied |
| Low spreads | Inactivity fees |
Regulation
HFM is is a trading broker that is regulated in several countries, including Cyprus, UK, South Africa, Dubai.
When you trade with a broker that is regulated in several countries, it gives you confidence and peace of mind, knowing that you are working with a broker you can trust and rely on.
HF Markets (Europe) Ltd – authorized by CySEC (Cyprus) registration no. 183/12
HF Markets (UK) Limited – authorized by FCA (UK) registration no. 801701
HF Markets (DIFC) Ltd – authorized DFSA (Dubai) registration no. F004885
HF Markets (SV) Ltd – authorized by FSA SVG registration no. 22747 IBC 2015
HF Markets (SV) Ltd – authorized by FSC (Mauritius) registration no. C110008214
HF Markets SA (PTY) Ltd – authorized by FSCA (South Africa) registration no. 46632
HF Markets (Seychelles) Ltd – authorized by FSA (Seychelles) registration no. SD015
HFM Investments Ltd – authorized by CMA (Kenya) license no. 155
Trading Platforms
HFM offers the popular MT4 platform as its main trading platform as well as the new version MetaTrader 5. This choice is not surprising as these platforms offer one-click trading, a wide range of tools Useful tools and access to advanced, high-quality technology with advanced customization options. They offer a suitable option for both novice and experienced traders, making the software a versatile option.
Web Trading Platform
HFM offers different versions of MT4 and MT5 terminals to suit your individual needs, facilitating efficient trading through a desktop platform, WebTerminal compatible with all web browser or MT4 MultiTerminal to manage multiple accounts at the same time. However, it should be noted that the desktop version is still the most complete version, providing access to all features and extensions.
Mobile Trading Platform
HFM has launched a new mobile app called HFM Trading App for Android and iOS users. This app offers the same advanced features and interactive charts as the full versions of MT4 and MT5. It enhances the trading experience with over 30 technical indicators and 24 analytical objects.
Markets
Availability of assets and their costs may vary depending on the HF Markets group of companies, jurisdictions and account type you choose. All in all, HF Markets offers a wide variety of trading options. On the forex market, there are over 50 currency pairs with low spreads, starting from 0 pips depending on your account. For commodities, you have access to more than 15 assets including energies, soft and hard commodities, all of which are traded as CFDs. There are 22 global indices available for trading in the spot and futures markets, including major indices from a variety of regions. Stock traders can choose from 55 stocks of major companies listed on US and European stock exchanges. In the bond market, you have access to three assets: Euro Bund, British Gilt and 10-year US Treasuries.
Leverage
The amount of leverage you can use with HF Markets Group depends on where you trade and the type of account you have:
– If you’re trading with HF Markets (Europe) Ltd. or HF Markets (UK) Ltd., the maximum leverage is 30:1 for all accounts due to certain regulations.
– In the UAE, with HF Markets (DIFC) Ltd., the highest leverage allowed is 50:1 for all accounts because of different regulations.
– In other HFM jurisdictions, the leverage varies based on your account type. For micro accounts, it’s 1000:1, for zero spread and auto accounts, it’s 500:1, for HF Copy accounts, it’s 400:1, and for MAM/PAMM accounts, it’s 300:1.
There are some exceptions to the leverage rules. In the EU and UAE, professional traders can get higher leverage, up to 400:1 on major forex pairs. In Poland, if you qualify as an ERT, you can get leverage up to 100:1. For auto accounts, the leverage is 500:1, but if your equity goes above $300,000, it might decrease.
Risk Management
HFM and HF Markets offer powerful risk management tools on their trading platforms to keep your trades safe. These tools include stop loss, take profit, limit order and trailing stop order. They help you limit losses when the market goes down and take profits when the market goes up. If you use leverage, they also use margin calls to prevent your account from falling below a certain level without your knowledge.
Customer service
Regarding customer support, the broker’s website offers a robust FAQ section. However, if you require assistance, you can easily reach the English-speaking support team via live chat, email, or phone. They are skilled, courteous, and quick to provide assistance.
HFM Education
Education is a priority for HFM, especially in Africa and Asia, making it accessible to many entrepreneurs. They offer well-designed and explained trading courses, webinars, video tutorials, daily analysis, market insights and news feeds in multiple languages. Whether you are a beginner or a professional trader, HFM provides you with resources to improve your skills.
HFM also excels at trade research tools, offering a full range of analysis and research tools such as Analysis Audience, Economic Calendar, Autochartist and Trader’s Board. There are also premium trading tools and for those depositing over 5,000 USD, free VPS hosting plans are offered.
HFM Research
The HF Markets Group excels in providing comprehensive research tools. This encompasses various types of analysis, including technical and fundamental, along with expert insights and diverse reports. They also offer daily market updates through articles, videos, and real-time notifications. Additionally, you’ll have access to a detailed economic calendar highlighting significant daily events for your informed decision-making.
FAQs
Is HFM a good broker?
HFM is a solid broker suitable for all types of traders, from beginners to experts.
Is HFM legit?
HFM and the entire HF Markets team are completely legal and safe. In fact, they are one of the most trusted brokers in the industry. This is evidenced by their highest regulation and the number of traders they operate with.
Is HFM regulated?
HFM is regulated by CySEC, FCA, DFSA, FSCA and the 2 offshore regulations of FSA (Seychelles) and FSC (St. Vincent).
How long does HFM withdrawal take?
Withdrawals with HFM take 2-5 business days depending on the withdrawal method you use. Card withdrawals are generally faster, while bank transfers tend to take longer.
