HFM: A Remarkable Trading Platform for All User

When it comes to forex dealing, picking a broker is one of the most important decisions a trader can make. HFM broker stands out as a great choice because it combines cutting-edge technology with easy access for users. This review aims to look at all of HFM’s different services, such as its different account types, trade systems, fee structures, and ways to contact customer service. 

HFM positions itself as a comprehensive and adaptable trading ally, suitable for both experienced traders and newcomers to forex. We want to give you an honest look at it’s capabilities by looking closely at how it meets the different needs of modern forex users.

HFM: Overview 

Established: 2010
Headquarters: United Kingdom
Trading Platforms: MetaTrader 4, MetaTrader 5
Mobile Trading: Yes
Minimum Deposit: $0
Account Types: Cent, Zero, Pro, Premium, Top-up Bonus

HFM company, which started in 2010 and used to be called HotForex, is a major player in the forex dealing business. It has a lot of different financial instruments, like forex pairs, commodities, indices, stocks, and cryptocurrencies, so that it can suit many different trade styles.

In particular, it is known for having a safe and clear buying atmosphere that follows strict rules set by several financial authorities. The company places great importance on security and uses cutting-edge technology to protect client funds and info.

HFM also cares about its customers and offers a lot of learning materials for buyers of all levels. Competitive spreads and leverage make it a good choice for traders who want to save money. It is an excellent choice in the forex market because it offers a good mix of safety, educational help, and low cost.

Regulation and Registration 

HF Markets (SV) Ltd, or HFM Broker, is incorporated in St. Vincent & the Grenadines (registration number 22747 IBC 2015) and adheres to international business laws. Multiple authorities worldwide regulate HFM. The Financial Conduct Authority (FCA) oversees the UK, bearing the registration number 801701. The Dubai Financial Services Authority (DFSA) regulates HFM under license number F004885. 

The Financial Sector Conduct Authority (FSCA) oversees its operations in South Africa, with the license number 46632. The Financial Services Authority (FSA) in Seychelles grants HFM the license number SD015 for its activities. Additionally, in Kenya, HFM is authorized as a non-dealing online foreign exchange broker by the Capital Markets Authority, holding license no. 155. 

These diverse regulations highlight HFM Broker’s global compliance and reliability in financial trading.

Account Types of HFM

CENT Account

• Currency: USC
• Minimum Deposit: $0
• Spreads: From 1.2 pips
• Trading Instruments: forex, gold
• Maximum Leverage: 1:2000
• Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading

ZERO Account

• Currency: USD, EUR, NGN, JPY, THB
• Minimum Deposit: $0
• Spreads: From 0 on forex and gold
• Trading Instruments: forex, metals, stocks, bonds, indices, energies, commodities, cryptos, and ETFs
• Maximum Leverage: 1:2000
• Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading

PRO Account

• Currency: USD, EUR, NGN, JPY, THB
• Minimum Deposit: ฿3300
• Spreads: From 0.5 pips
• Trading Instruments: forex, metals, stocks, bonds, indices, energies, commodities, cryptos, and ETFs
• Maximum Leverage: 1:2000
• Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading

PREMIUM Account

• Currency: USD, EUR, NGN, JPY, THB
• Minimum Deposit: $0
• Spreads: From 1.2 pips
• Trading Instruments: forex, metals, stocks, bonds, indices, energies, commodities, cryptos, and ETFs
• Maximum Leverage: 1:2000
• Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading, HFM Platform

TOP-UP BONUS Account

• Currency: USD, NGN, ZAR, JPY
• Minimum Deposit: $0
• Spreads: From 1.4 pips
• Trading Instruments: forex, metals, stocks, bonds, indices, energies, commodities, cryptos, and ETFs
• Maximum Leverage: 1:1000
• Trading Platform: MetaTrader 4, MetaTrader 5, Webtrader, Mobile Trading, HFM Platform

Deposit and Withdrawal

HFM Broker offers 24/5 deposit and withdrawal services with no deposit fees. Bank transfers and credit/debit card payments require a minimum deposit starting at ฿200, processed instantly or within 10 minutes. Alternative methods start at a $30 minimum. 

HFM processes withdrawals on the same day for requests made before 10:00 am server time. The minimum withdrawal amount is $5. Most withdrawals are free of charge, except for a 1% fee on some alternative methods processed within two business days.

Products in HFM

• Forex
• Metals
• Stocks
• Bonds
• Indices
• Energies
• Commodities
• Cryptos
• ETFs

Trading Platforms of HFM

• MetaTrader 4
• MetaTrade 5

Fees of HFM

HFM’s trading fees are asset-specific and account-dependent, averaging $15 for commission-free forex and $7-$9 for commission-based. Equity CFDs incur a flat $8 cost plus variable asset charges, while cryptocurrencies, indices, and commodities are commission-free, with fees based on the contract size.

Overnight swap rates apply, with triple charges on Wednesdays. Currency conversion fees arise for non-base currency transactions. HFM charges no deposit or withdrawal fees except a 1% BitPay fee. Inactivity fees kick in at $5 monthly after six months of dormancy.

HFM Promotions

HFM offers a top-up Bonus scheme with two main incentives. The first is a 100% bonus available on the initial deposit, open to all clients, with withdrawable profits. This bonus is automatically applied when claimed. 

The second is a 20% bonus applied to every subsequent account transfer, with the potential to receive up to ฿180,000 as a bonus. Similar to the first, this offer is accessible to all clients and allows for the withdrawal of profits. Terms and conditions apply to both bonus schemes.

Customer Support

• Email: [email protected]
• Live chat: 25/7
• Phone: +44-203 097 85 71

Pros & Cons

Pros Explained

• Advanced trading tools: HFM provides sophisticated tools like Autochartist, enhancing trading experiences with better analytics and insights.
• Extensive market research: HFM delivers a mix of in-house and third-party market analyses, offering traders diverse and comprehensive perspectives.
• Wide market access via the app: HFM’s mobile app enables traders to access and trade in over 3,500 markets, offering flexibility and convenience.
• Earnings on unused margin: HFM’s return on free margin (ROFM) feature allows traders to earn interest on unused account margins.
• Competitive trader pricing: HFM’s commission-based accounts provide attractive pricing, benefiting active traders seeking cost-effective trading options.
• Rich educational content: HFM offers extensive educational resources, aiding beginners and experienced traders in expanding their knowledge.

Cons Explained

• Reliance on MetaTrader: HFM uses the MetaTrader suite instead of a proprietary web trading platform, potentially limiting platform diversity.
• Educational materials: HFM’s educational content, while extensive, is less advanced than some industry leaders, which may affect the learning curve for traders.
• Trading costs: Certain account types at HFM have trading costs above the industry average, posing a concern for cost-sensitive traders.
• Mobile charting: The charting tools in HFM’s mobile app are limited, particularly in the number of available indicators.
• Service limits: HFM faces geographical limitations on specific products and services, impacting traders in certain regions.
• Weekend support: Customer support at HFM is unavailable on weekends, which could be inconvenient for traders needing assistance outside standard business hours.

Is HFM Worth Considering?

HFM is a viable choice for many traders, offering a secure, regulated environment with diverse trading options and low pricing. It’s well-suited for beginners to experienced traders, supporting various strategies, including copy and EA trading. 

The broker’s strengths include low or no initial deposit requirements, support for MT4 and MT5, and a broad choice of trading instruments. However, it falls short in online fund transfer options, lacking popular systems like Neteller and Skrill. Depending on individual trading needs, this mix of pros and cons makes it an attractive yet selective option.

FAQs

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