HFM Broker Review (2024) Pros & Cons Revealed ☑️


The Best Forex Brokers For You

This HFM broker review provides a detailed analysis of the platform, including its features, fees, and customer support. If you're considering using HFM Broker for your trading needs, it's important to do your research first. Read on to find out if HFM Broker is the right choice for you.

This HFM broker review will closely analyse the broker to see if it is a trustworthy broker or not.

HFM Broker Review Overview

HFM is an award-winning, high-regulated forex, Indices, Stocks and commodities global broker headquartered in the UK. The broker boasts of over 3,5 million accounts opened by happy clients and it has won over 25 industry awards.

HFm Logo
🔎 Broker's Name HFM
⚖ Regulation CySEC, FCA, DFSA, FSCA, FSA
📆 Year Founded 2010
💳 Minimum deposit $5 USD
💹 Types of assets traded Forex, Metals, Energies, Shares, Indices, Bonds, Commodities, DMA Stocks, ETFs
🎁 Bonuses Yes
🕹 Demo account Yes
💲 Base Currencies AUD, GBP, USD, EUR, CAD, CHF, JPY, SGD, HUF, PLN, NZD, ZAR
💰 Payment methods Skrill, Neteller, Debit Card, Wire Transfer, Credit Card, fasapay, Vload
 🧾 Account Types Micro, Premium, VIP, Zero Spread, Fixed, Islamic account
 📈Are multiple accounts supported ✔Yes
📊 Is PAMM  & Copy trader supported? ✔ Yes

 

What Account Types Are Offered By HFM?

🔎 Account 📈 Micro Account 💹 Premium Account ⏬ HFcopy Account 📊 Zero Spread Account
💳 Minimum Deposit $5 $100 $300 $200
🏋️‍♀️ Leverages 1:1000 1:500 1:400 1:500
💲 Spreads From 1 pip From 1 pip From 1 pip From 0.0 pips
🏧 Commissions No No No Yes
🧾 Order Executions Market Execution Market Execution Market Execution Market Execution
Swap- Free ✔Yes ✔Yes ✔Yes ✔Yes
🚀 Open an Account 👉 Click here 👉 Click here 👉 Click here 👉 Click here

 

This HFM broker review found that the broker offers different types of accounts explained below.

HFM Micro Account

  • minimum deposit of $5, floating credit leveraging up to 1:1000, floating spreads from 1 pips, 10% stop-out, 40% margin call and simultaneous opening of up to 150 orders. Trading is carried out using MT4 and MT5.

Learn more about the HFM Micro Account.

 

HFM Premium Account

  • minimum deposit of $100, floating credit leveraging up to 1:1500, floating spreads from 1 pips, 10% stop-out, 40% margin call and simultaneous opening of up to 300 orders. Also on MT4 and MT5. Support is provided by bonuses.

Learn more about the HFM Premium Account

HFM Zero Spread

  • minimum deposit of $200, floating credit leveraging up to 1:1500, floating zero spreads, 20% stop-out, 50% margin call and simultaneous opening of up to 500 orders. Fees are included: 1 USD/2.5 EUR/1100-1450 NGN for every lot. This version is developed especially for scalpers.

Learn more about the HFM Zero Spread Account

 

HFM PAMM Account (PREMIUM and PREMIUM PLUS)

  • minimum deposit of $250, floating credit leveraging up to 1:300, floating spreads from 1.1 and 0.3 pips, depending on the account type, 20% stop-out, 50% margin call and simultaneous opening of up to 500 orders. There is no fee on the PREMIUM account, and $5 of every $100 000 on PREMIUM PLUS. It is investing into PAMM-accounts (managers' accounts, which actions shall be copied with your assets proportionally considering the amount of your balance).

Learn more about the HFM PAMM Account

HFM Copy Account

  • With the HFcopy account, you can connect with over 250,000 other traders. You can choose to follow and copy successful traders, or you can set yourself up as a Service Provider (SP).
  • minimum deposit of $500-1000, floating credit leveraging up to 1:400, floating spreads from 1 pip, depending on the account type, 20% stop-out, 50% margin call and simultaneous opening of up to 300 orders.

Learn more about the HFM Copy Account

Time needed: 10 minutes

How To Open A HFM Real Trading Account

  1. Go to the HFM account creation page

    :Click here to visit the HFM account creation page.  Choose your account type. You can select between Individual, Corporate, or Joint.

  2. Enter your personal information on the HFM signup page

    Provide your details including your full name, email address, country of residence, date of birth, and telephone number. You should also choose your base currency This is the currency you will use to deposit, trade and withdraw.

    How to open a Hotforex account step 2

  3. Verify your email address

    Check your email and verify it by clicking on the link in the email sent to you by HF Markets. Proceed to fill in other details such as your country of birth, full current address, and tax details.

  4. Upload Verification documents

    Provide your verification documents. These can be uploaded directly on the ‘myHF’ platform, or sent by email. The document verification process should be completed within 48 hours.

  5. Choose a trading platform

    After your documents are verified proceed to choose your preferred trading platform and download it. Log in to your HFM account and deposit and start trading

HFm Logo

How To Open A HFM Demo Trading Account

The HFM Demo Account has been designed to closely simulate a real trading environment based on actual market conditions.

Click here to go to the HFM demo account registration page. You will see a page like the one below.

Open Hfm Demo account

Fill in your details and accept the privacy policy. Your demo account will be created & you will get your login credentials like the picture below.

HFM Demo account credentials

The credentials you will get are:

  • Trading account number (Login ID)
  • Trading account password
  • Server

An email with the same credentials will also be sent to you for future reference. You can use this demo account to participate in demo contests.

How To Login To A HFM Trading Account

This HFM broker review found that it is easy to log in to the HFM forex trading account.

  1. Open your preferred trading platform e.g WebTrader, MT4, MT5, MObile app etc.
  2. Click on Settings> Log in to new account
    HFM Broker review- account login
  3. Enter your login ID, password and server. You will then be logged into your account.

What instruments I can trade in HFM?

Our HFM broker review team was pleased to see that there is a healthy variety of instruments to choose from. From currency pairs and shares to commodities and cryptocurrencies, you’ll find a good list of options.

HFM MARKETS AND PRODUCTS
INSTRUMENT NUMBER
Forex 49
Metals and energies 5
Indices 11
Shares 56
Commodities 7
Cryptocurrencies 7
Bonds 3

HFM does not offer synthetic indices trading as these are only offered by Deriv. HFM also does not offer binary options trading.

Instaforex no deposit bonus

HFM Broker Review: Deposit and Withdrawal Options

HFM supports a wide range of payment options, including all major credit and debit cards, wire transfers, Skrill, Neteller, and Bitcoin (some country restrictions may apply). These methods can all be used for both deposits and withdrawals.

All deposits are processed instantly, except for wire transfers which can take up to 2-7 working days to be credited to your HFM account. There’s a minimum deposit amount of $5 for most methods too, aside from Bitcoin which has a minimum deposit amount of $10.

HFM Withdrawal Review

HFM withdrawal options include cards, bank transfers and various e-wallets. HFM does not charge any withdrawal fees. However, Wire Transfers may involve some correspondent fees according to your bank and international policies.

How do I withdraw money from HFM?

Withdrawing from HFM is easy and fast. Simply access your myHF area and submit a Fund Withdrawal request.

HFM Broker Review Withdrawal Process Step-by-step

  1. Access your myHF page and account area
  2. Select ‘Fund Withdrawal’
  3. Chose the appropriate withdrawal method and amount
  4. Confirm necessary data and processing time/ fees
  5. Submit

FBS 100% Deposit bonus

How long does it take to withdraw money from HFM?

This HFM broker review found that various payment methods are processed in slightly different timeframes on HFM. The HFM accounting team confirms transactions quite quickly during business hours. The withdrawal might take longer due to payment providers.

A Wire transfer will take 2-10 working days, also depending on your bank and international policy processing, while e-wallets will load the request Instantly.

Withdrawals also start at as little as $5 per transaction. Withdrawals that are submitted before 10:00 am server time are processed on the same business day between 7:00 am and 5:00 pm server time.

HFM Virtual To Real Contest

HFM Broker Review: Trading Bonuses

HFM offers a variety of very attractive bonus incentives for its clients. You can enjoy a bonus on every deposit if it meets certain requirements. You can also take advantage of cashback offers on qualifying losing trades.

Lastly, HFM also has a loyalty program. The more you trade, the further you progress in the program and the more points you earn. Points can then be traded for cash or top-quality trading services.

Learn more about HFM bonuses here.

These features make HFM one of the top forex brokers.

HFM Review: Education

HFM Broker offers a wide range of educational resources and trading tools to help traders improve their knowledge and expertise in the forex market. The broker provides free webinars and seminars on a regular basis, covering topics such as technical analysis, risk management, and trading psychology.

The broker also provides a range of trading guides and tutorials to help traders navigate the forex market. The guides and tutorials cover a range of topics, such as trading strategies, trading plan development, market analysis, and technical indicators.

Additionally, HFM Broker provides access to a variety of market analysis tools, including live news feeds and economic calendars. These resources can help traders stay up-to-date with market trends, understand market events, and make informed trading decisions.

HFM Broker also offers daily market analysis reports that provide in-depth analysis of the forex market and help traders identify potential trading opportunities. The reports are written by expert analysts who have years of experience in the financial markets.

Moreover, HFM Broker has created a Trading Academy that provides traders with comprehensive and practical information about trading in the forex market. The academy offers a range of courses, from beginner to advanced, covering a range of topics such as market analysis, fundamental and technical analysis, trading strategies, and more.

The courses are designed to help traders improve their trading skills and knowledge while also gaining a deeper understanding of the forex market. The Trading Academy is accessible to all clients, providing access to exclusive webinars, courses, and one-on-one sessions with experts that can help them grow their skills and expertise.

Deriv Demo

Finally, HFM offers free educational webinars where traders can learn about trading from experts in real time. The educational webinars cover a variety of topics, from the basics of forex trading to advanced trading strategies. During the webinars, the experts share their experiences, techniques, and insights related to trading, helping participants sharpen their trading skills.

HFM Broker Review Pros & Cons

HF Markets Pros HF Markets Cons
  • Great range of markets
  • Three entities in offshore zones
  • Enabled negative balance protection
  • No proprietary trading platform
  • Competitive trading conditions
HFm Logo

FAQs On HFM Broker Review

Why did Hotforex rebrand to HFM?

Hotforex evolved into HFM because they felt having the term ‘forex' in their name was a bit misleading. This is because the broker offers way more than forex including stocks, indices, cryptocurrencies and more.

This is similar to the rebranding that binary.com did when it evolved to Deriv.

Is HFM Broker regulated?

Yes, HFM Broker is regulated by the Financial Conduct Authority (FCA) in the UK. The FCA is a reputable financial regulatory body that provides traders with peace of mind and ensures that brokers operate in a fair and transparent manner.

Is HotForex (HFM) a trusted broker?

Yes, HFM is a trusted broker that is well-regulated. The broker has over ten years of experience in serving clients well.

How long does it take to withdraw from HFM?

Withdrawals via e-wallets that are submitted before 10:00 am server time are processed on the same business day between 7:00 am and 5:00 pm server time. A Wire transfer will take 2-10 working days.

How do I withdraw from HFM?

In order to proceed with the HFM Withdrawal, please log in to myHF area and select ‘Fund Withdrawal'. Choose your withdrawal method and proceed.

What is the minimum deposit for HFM trading?

The minimum deposit and withdrawal from HFM forex broker is $5

What trading instruments does HFM Broker offer?

HFM Broker offers a range of trading instruments, including forex currency pairs, commodities, indices, and cryptocurrencies. The range of tradable instruments is not as extensive as what is offered in the ECN and VIP accounts.

 Does HFM Broker offer customer support?

Yes, HFM Broker provides 24/7 customer support through live chat, email, and phone. The support team is knowledgeable and responsive, and they can assist with any questions or issues you may have regarding your trading account or the trading platform.

What is the maximum leverage offered by HFM Broker?

The maximum leverage for the Standard account is 1:500, for the ECN account 1:200 and for the VIP account 1:100.

 What account types does HFM Broker offer

HFM Broker offers three types of trading accounts: Standard, ECN, and VIP. Each account type is designed to cater to different traders' needs, skill levels, and trading styles.

Does HFM Broker offer a demo account?

Yes, HFM Broker offers a demo account that traders can use to practice trading in a risk-free environment before opening a real trading account. The demo account offers access to the same trading conditions and features as the live trading account

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