HFM Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $0
- MT4
- MT5
- HotForex FIX/API
- FCA
- DFSA
- FSCA
- FSA
- CMA
- 2010
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $0
- MT4
- MT5
- HotForex FIX/API
- FCA
- DFSA
- FSCA
- FSA
- CMA
- 2010
Our Evaluation of HFM
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
HFM is a reliable broker with the TU Overall Score of 7.46 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by HFM clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.
The HFM broker focuses on traders from Europe. The company offers a variety of investment options and is suitable for both novice and professional traders.
Brief Look at HFM
HFM is a broker owned by the HF Markets Group, offers a wide variety of account types, and has the widest selection of trading assets and high-quality software. HFM also has favorable trading conditions and instant execution of orders. Plus, a solid list of tools and services allow everyone to choose the best option. The broker's reliability is confirmed by the license of several regulators. The company's work experience in the financial, brokerage and other services market is over 10 years. Within that time, HFM has received 35 prestigious awards. For trading, MetaTrader 4 and MetaTrader 5 trading terminals are used.
- favorable trading conditions and low spreads - from 0 pips;
- controlled by several regulators;
- no commissions for account replenishment and bank transfers.
- Withdrawal terms do not always correspond to those indicated;
- Few account currencies, which is why some clients have to pay for double conversion;
- The choice of electronic payment systems for replenishment/ and withdrawal is rather modest;
- Registration is quite easy, but while it is in progress, you cannot learn the conditions on other types of accounts;
- Customer support is closed on weekends.
TU Expert Advice
Financial Markets Expert
HotForex is now known as HF Markets, and refers to itself on its website as HFM (the website address is HFM.com). The name change may simply be due to the fact that HFM offers multi-market access, that it isn’t just limited to trading the forex market. Still, it can be a little confusing, as the company is still listed as HotForex on some websites.
A primary draw at HotForex is the multi-market exposure it offers. About three dozen cryptocurrencies are available to trade. That’s in contrast to many forex brokers that only offer trading in a handful of cryptos. In addition to about 75 of the most widely traded stocks, HotForex clients also have exposure to approximately 30 ETFs and about a dozen market indexes. Bond trading is severely limited – only the Euro Bund, the UK Gilt, and the US 10-year Treasury Note.
Here are three things I like about HotForex:
    1. Choice of Spread or Commission Fees - A choice of spread-fees-only or commission-fees-only accounts; Commission fees are on the low end of industry averages, at $6 per standard forex lot round turn trade.
    2. Tier 1 Regulated - Security for traders is enhanced by the fact that HotForex is regulated by multiple Tier 1 financial regulators, including the UK’s Financial Conduct Authority (FCA).
    3. Strong Trader Education - HotForex provides beginning traders with extensive trader education resources, including video tutorials, webinars, and a full forex trading course; It also gives clients daily fundamental and technical market analysis reports.
- You prefer not to make a large initial deposit but still expect professional conditions. HFM is one of the few brokers that doesn't require a mandatory deposit for three of its accounts, and for the fourth (Pro), it's only $100. Given the advantageous trading parameters of these accounts, this is an excellent offer.
- Your strategy involves generating profits through avenues other than just active trading. Among the integrated services offered by HFM is its proprietary copy trading platform. Additionally, the broker's clients can join PAMM accounts.
- Swiftly depositing and withdrawing funds via online systems is of great importance to you. HFM supports only specific bank cards, a few cryptocurrency wallets, and international bank transfers. Popular options like Neteller and Skrill are not available.
HFM Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
💻 Trading platform: | MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading and HFM Platform |
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📊 Accounts: | CENT, ZERO, PREMIUM, PRO |
💰 Account currency: | USD, EUR, NGN, JPY |
💵 Replenishment / Withdrawal: | Wire Transfer, Visa/MasterCard, Crypto, Fasapay, Neteller, PayRedeem, Perfect Money, Skrill, Bitpay |
🚀 Minimum deposit: | USD 0 |
⚖️ Leverage: | Up to 1:2000 |
💼 PAMM-accounts: | Yes |
📈️ Min Order: | 0.01 |
💱 Spread: | from 0 pip |
🔧 Instruments: | Forex, Metals, Energies, Stocks, Indices, Bonds, Commodities, ETFs, Cryptocurrencies |
💹 Margin Call / Stop Out: | 50%/20% |
🏛 Liquidity provider: | No data |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Orders execution: | Market Execution, Instant Execution |
⭐ Trading features: | Hedging; Account for scalping; Trading on the news. |
🎁 Contests and bonuses: | Yes |
HFM trading conditions can be attributed to a high level of competitiveness. A low minimum deposit and a leverage of up to 1:2000 provide opportunities for clients to use several highly profitable strategic models and test the functionality of the account and terminal. The spread floats according to the trading conditions and the minimum spread is equal to 1 pip. However, for a Zero account, its minimum value is zero.
HFM Key Parameters Evaluation
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Trading Account Opening
To make it easier for you to open a user account on HFM's website, we have prepared the following instructions:
On the main page of the HFM website, in the upper panel of the website, click the "Open Real Account" button to open a real account. Alternatively, you can use the Demo button.
To register, you must fill in all the questionnaire fields with the requested information including: type of client, name, surname and date of birth, country, email address, and phone number.
After filling in all the required information, you will need to confirm the registration by clicking the appropriate button.
The following functions are available in the HFM user account:
There are other useful functions and features here, such as:
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analytical tools;
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transaction history;
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educational information.
Regulation and safety
HFM is owned by the HF Markets Group and is regulated by several oversight agencies. HFM has the appropriate licenses for all services provided. HFM has also been in the market for over 10 years, which generates customer confidence. If interested, you can read more about HFM security here.
Advantages
- Availability of segregated accounts based on regulatory requirements
- Civil liability insurance program for up to 5 million euros
- Multiple regulator licenses
Disadvantages
- It is unlikely that licenses from other jurisdictions will somehow be useful to traders in the event of a conflict of interest
Commissions and fees
Account type | Spread (minimum value) | Withdrawal commission |
---|---|---|
Zero spread | From $0 | No |
Cent | From $12 | No |
Premium | From $12 | No |
PRO | From $5 | No |
An analysis of competitors' commission structures was also carried out and is summarized in the table below. This table uses a low-to-high ranking system.
Broker | Average commission | Level |
---|---|---|
|
$7.25 | |
|
$1 | |
|
$8.5 |
Account types
HFM offers 6 types of live accounts, aside from the swap-free Islamic account and demo account. The minimum initial deposit is only USD 5. A PAMM account is also provided for investors. Also, for those who wish to focus on social (mirror) trading, the HFM platform offers HFcopy.
HFM account types are summarized below:
Regardless of the selected account type, a floating spread is provided, the size of which starts from 1 point. An exception is the Zero Spread account, in which the starting spread value is equal to zero.
Before opening a real trading account, novice traders can learn the features of trading via a free demo account.
Deposit and Withdrawal
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Withdrawals are available using various electronic payment systems such as Skrill, Neteller, Perfect Money, and WebMoney.
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The minimum withdrawal amount for all EPS, except Perfect Money, is $5. In the case of Perfect Money, the minimum withdrawal transaction amount is $10.
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The speed of crediting money is instant.
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Withdrawal and deposit currencies include USD.
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There is no deposit fee.
Investment Options
The HFM platform offers its clients options in investment trading to make trades on their own. Traders can also earn additional income by copying trades. It is also possible for HFM traders to invest in PAMM accounts.
Option for auto-copying deals
HFM’s service of automatic copying of trade operations allows providers of trading strategies to invite other traders to copy their trade strategies.
To participate in this option, the minimum deposit is $500 for a strategy provider and $100 for a subscriber.
Forex currency, bitcoin, and gold are among the available trading assets for automatic copy trading.
The maximum leverage is 1:400, and the minimum trading volume is 0.01 lot.
The number of traders from whom a subscriber can copy trades is unlimited. This allows copy traders an opportunity to form their own portfolio while also diversifying their overall risk.
Copying speed takes a few milliseconds, which is beneficial for efficiency while also reducing risks and errors.
All of this provides traders — both suppliers and subscribers — the opportunity to ear profits using their preferred trading strategy.
Using PAMM as an investment program
Investing in a PAMM account allows traders to generate profits on the foreign exchange market without initiating your own trades. Furthermore, the program provides additional opportunities to generate earnings for professional traders who want to try their hand at becoming managers.
Features of the HFM PAMM system
The minimum deposit is $250. This is a relatively small amount for PAMM accounts, which allows everyone to try this investment option;
The maximum leverage is 1:300 and the spread starts from 0.3 pips;
A wide assortment of trading instruments is available such as Forex, metals, oil, and various indices.
Investors can invest in several PAMM accounts simultaneously, allowing investors to diversify their risk.
Conveniently, traders who act as fund managers can manage multiple accounts simultaneously.
The Trader Union website provides trader ratings thereby enabling investors to be able to choose a manager that is optimal for the trader’s trading strategy.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
HFM affiliate program
Affiliate Partners and Introducing Brokers (IB) program is available to organizations and individuals around the world. It provides for making a profit in the form of a reward for attracting new customers to the broker. Under the terms of agreement, the company provides support by assigning a manager to each introduced broker. Also, the broker can assist in performing calculations, provide the necessary software, and guarantee a high level of service.
Regional representative positions are available for trading professionals who help promote HFM at a regional level. These trading professionals will take on the responsibilities of managing an office in the region, while providing brokerage services on behalf of HFM.
HFN’s White Label program is especially geared towards financial institutions and consulting firms. This program makes it possible to provide services under its own brand while enabling individual partnerships.
Customer support
HFM's support service is ready to assist clients around the clock on weekdays.
Advantages
- 24\5 support
- Quickly answers any questions
- Multiple languages
Disadvantages
- Not available on weekends
There are several ways to contact support:
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by the phone number indicated on the website;
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by email; and
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in online chat.
Customer support is also available via the company's website and from the user account.
Contacts
Foundation date | 2010 |
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Registration address | Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines. |
Regulation | FCA, DFSA, FSCA, FSA, CMA |
Official site | https://www.hfm.com/ |
Contacts |
+442030978571
|
Education
The HFM platform provides an abundance of useful educational information. What’s more, for quick answers to the most popular questions, there is a FAQs section.
All these tools can be used to build a trading system.
Comparison of HFM with other Brokers
HFM | RoboForex | Pocket Option | Exness | AMarkets | InstaForex | |
Trading platform |
MT4, MobileTrading, MultiTerminal, MT5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, AMarkets App | MT4, MultiTerminal, MobileTrading, MT5, WebTrader |
Min deposit | No | $10 | $5 | $10 | $100 | $1 |
Leverage |
From 1:400 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:3000 |
From 1:1 to 1:1000 |
Trust management | No | No | No | No | No | Yes |
Accrual of % on the balance | No | No | No | No | No | No |
Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
Level of margin call / stop out |
50% / 20% | 60% / 40% | 30% / 50% | No / 60% | 50% / 20% | 30% / 10% |
Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Instant Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | Yes | Yes | No | No | No | Yes |
Detailed review of HFM
HFM was registered in Saint Vincent and the Grenadines in 2009 and belongs to the HF Markets Group. (Registration number - 22747 IBC 2015). HFM is licensed to offer a wide range of services, which includes any commercial, financial, and trading activities. The license also covers activities in the field of lending, borrowing and customer service, participation in other enterprises, and the provision of brokerage services. Additionally, HFMis authorized to provide educational and account management services using currencies, commodities, indices, CFDs, and financial instruments. The company's activities are currently vetted by several regulators including the following: FCA (UK Financial Conduct Authority, 801701), DFSA (Dubai Financial Services Authority, F004885), FSCA (South African Financial Services Authority, 46632), and FSA (Seychelles Financial Services Authority, SD015), CMA Capital Markets Authority (Kenya, 155).
A few important statistics regarding HFM and its current customer base:
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over 2,000,000 active real accounts;
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more than 10 years in the market;
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over 200 employees worldwide;
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35 awards;
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supported by more than 27 languages;
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6 types of accounts plus a demo and Islamic account.
HFM is a broker for professional trading in the exchange and off-the-counter markets
HFM is a broker providing competitive trading conditions with tight spreads. There is a Zero Spread account, where the spread size starts at 0 pips. However, it should be noted that the spread is floating on 6 types of accounts, so the actual spread may be higher. The HFM platform offers a broad range of trading assets including currency pairs, CFDs, indices, and commodities.
As for terminals, HFM offers MT4 and MetaTrader 5 to clients in various versions, including mobile applications for iOS and Android devices. A proprietary terminal designated HFM FIX / API is also available. This proprietary terminal provides clients with advanced order types and routing management systems as well as PBX.
In addition, HFM provides many useful trading tools including:
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Autochartist is a customizable market scanner that acts as an effective analytical tool;
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Premium Trader Tools package is a set suitable for MT4/5 terminals and provides new trading opportunities, regardless of the trading strategies used by the client;
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Advanced Insights is an effective analytical tool that is used when processing large amounts of information related to market volatility;
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Clients can also receive trading signals via SMS messages.
Advantages:
stable operation of terminals and services;
wide functionality of trading platforms;
low spreads;
reliability;
provides algorithmic trading and scalping.
The HFM platform does not issue any restrictions on trading strategies: locking and hedging are allowed and there are no time limits.
User Satisfaction