HF Markets Review 2024

Last updated Feb 26, 2024
Логотип HF Markets
4.3/5
№14 in the brokers' listTrading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

In online trading, choosing a reliable and efficient broker is crucial for successful trading on the financial markets. One such broker that has earned the trust of many traders is HF Markets (HFM), formerly known as HotForex.

This article will review the main features, services, and benefits of working with this company to help you decide whether HFM is the right choice for your trading activities.

HFM Broker Overview

Foundation Year2009
Official Websitehttps://www.hfm.com
Regulated in CountriesSaint Vincent and the Grenadines, South Africa, Seychelles, Cyprus, United Kingdom, United Arab Emirates, KenyaMore Details
Minimum Deposit
  • 1 USD
  • 100 EUR
  • 13000 JPY
  • 50000 NGN
Spreadfrom 0 points
Max Leverage1:2000
Trading Assets
  • Forex
  • Stocks
  • Indices
  • Bonds
  • ETF
  • Cryptocurrency
  • Precious Metals
  • Energy Carriers
  • Agricultural Commodities
Trading Platforms
  • MetaTrader 4
  • MetaTrader 5
  • WebTrader
Email Support
  • support@hfm.com
Hotline Phones
Social Media

HF Markets is an international Forex and CFD broker established in 2010, offering clients a wide range of financial trading instruments. Known for its transparency, innovative solutions, and commitment to continuous development, the company has proven itself a reliable partner for traders of various experience levels and strategies.

The HFM broker executes trades in the financial market through straight-through processing of transactions, meaning in an automated mode. This ensures immediate order execution and eliminates manual interference in the trading process, which is particularly convenient for traders concerned about deception from intermediary companies.

HFM Review Summary

In our review of HFM broker, we employ a strict and proven methodology designed to ensure an objective, honest, and comprehensive analysis. This includes thoroughly examining the broker's services and features, evaluation of educational materials, verification of the effectiveness of customer support, and much more.

This review serves as a guide for current and potential traders seeking detailed information about the HFM broker. We hope our assessments and conclusions will help you make a well-informed decision.

Continue reading to learn more about the HFM broker and the opportunities it can offer you as a trader.

Reliability and Regulation

Rating:5/5
Legal EntityRegulatorReview
Current review
HF Markets SA review
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HF Markets EU review
HF Markets UK review

Regulation and reliability of a broker play a key role in choosing a partner for trading in the financial markets. In the case of HF Markets, the company boasts a high level of regulation and security, making it an attractive option for investors and traders.

HF Markets is an international broker under several regulators' jurisdiction, which speaks to its reliability and commitment to maintaining high standards.

Moreover, HFM is a member of the Investor Compensation Fund (ICF) for clients of Cypriot investment firms. This means that clients' funds are protected in the event of financial difficulties or improper actions by the broker, with insurance coverage of up to 20,000 euros per investor.

HF Markets also utilizes a segregated account scheme to ensure the security of clients' funds. This means that clients' funds are kept in separate accounts, distinct from the company's corporate accounts, and cannot be used to cover its expenses or debts.

Account Opening

Rating:5/5

The account opening process with HFM broker is quite easy, fast, and convenient.

Registration

Potential clients should register on the official HFM website for fuller access to information and capabilities.

During registration, you'll be asked to fill out a form. Note the broker's requirement to use only Latin characters in the fields. The broker requests basic information for registration: place of residence, phone number, full name, and date of birth. There's no need to disclose any "secret" information. It's essential to provide accurate personal data to avoid future withdrawal issues.

HFM broker registration form
HFM broker registration form

An activation link for the account is sent immediately. Afterward, you can use your password to access your account. The email specifies that for full access to services, you must upload scans of your documents.

Next, some personal data must be filled in in the registration process.

Form when filling in personal data with HFM broker
Form when filling in personal data with HFM broker

You also need to complete an economic profile.

Verification

To complete the registration, you must go through verification. While you're not planning to deposit or withdraw funds, this step is not mandatory, but for any transactions with real funds, the broker will request proof of identity and residence.

HFM Personal Account

The HFM client's area, or myHF, is the central place for managing your trading accounts, finances, and private settings. It's designed for ease of use and offers an intuitive interface that allows clients to carry out necessary operations quickly. Here are some key features of the myHF personal account:

  • Account Management. The personal account allows you to open and close trading accounts, switch between them, and manage their settings. You can also view your trading history and analyze your market activity.

  • Financial Operations. In myHF, you can make deposits and withdrawals using various methods, such as bank transfers, credit/debit cards, electronic wallets, and cryptocurrencies. Your balance and transaction history are available for real-time viewing.

  • Verification and Security. To comply with regulatory requirements and ensure the security of the client's funds, the personal account includes a verification process for identity and residence. You can upload the relevant documents and monitor the status of their review.

  • Educational Materials and Analytics. The personal account provides access to various educational materials, webinars, analytical reports, and trading signals to help you improve your trading skills and make more informed market decisions.

  • Technical Support. If you have any questions or issues, you can contact HF Markets support directly from the personal account. The support team is available 24/5 and ready to assist you with trading-related queries or platform usage.

The HFM client's area provides all the necessary tools and services for convenient and efficient trading in the financial markets. Overall, the myHF personal account stands out for its simplicity and user-friendly interface, making it a convenient tool for traders of all experience levels. With a wide range of functions such as account management, conducting financial operations, access to educational materials, and technical support, HF Markets clients can entirely focus on their trading activities and strategies, receiving maximum support from their broker.

myHF
myHF

Minimum Deposit

When opening an account with HF Markets, potential investors and traders will be pleased to find that most trading accounts do not have minimum deposit requirements. This makes the broker accessible to a wide range of clients, including those just starting their journey in investing and trading in the financial markets.

However, it should be noted that despite the lack of a minimum deposit for most trading accounts, minimum deposit requirements may still apply to payment systems. Most payment systems set a minimum deposit of $5. When using these systems to fund your trading account, you must deposit at least $5.

Account Types

Rating:5/5

HFM offers a variety of accounts, providing a broad spectrum of services for different types of clients, from beginners to experienced traders.

Trading Accounts

CentPremiumZeroPro
Account CurrencyUSCUSD, EUR, JPY, NGN
Minimum Deposit1 $100 $100
Trading PlatformsMetaTrader 4MetaTrader 5WebTrader
Spreadfloatingfrom 1.2 pipsfor EURUSD~ 1.5 pipsfloatingfrom 0 pipsfor EURUSD~ 0.1 pipsfloatingfrom 0.5 pipsfor EURUSD~ 0.6 pips
Commission per Tradeper 1 lot~ 3 $
Trading AssetsForexStocksIndicesBondsETFCryptocurrencyPrecious MetalsEnergy CarriersAgricultural Commodities
Opened Positionsup to 150up to 500
Leverage1:1-1:2000
Margin Call / Stop Out50% / 20%
Order ExecutionSTP
Demo Account
Islamic Account
RegisterRegisterRegisterRegister

HF Markets offers an extensive selection of trading account options. This facilitates trading for clients, from large investors to those who can only invest small amounts.

The maximum leverage the company offers is 1:2000. The company presents this opportunity as a chance for clients with small deposits to increase their funds rapidly.

Scalping trades are allowed at the company. An essential advantage of the company is the ability to trade small volumes, even if a large account is opened. This can reduce risks if a trader is unsure about their forecast.

Cent Account

The cent account at HF Markets is an ideal solution for those just beginning their trading career or experienced traders who want to test new strategies with minimal risks. This type of account allows trading without swaps and using cent lots, which eases the transition from a demo account to actual market trading.

The margin requirements for such an account are only 10 cents, making it very accessible for novice traders. Experienced traders can use cent accounts to test new trading instruments and strategies with minimal capital and reduced risks.

Demo Account

As with all other companies, the demo account is for educational purposes. It is provided on a complimentary basis, without time limits. There are no strict restrictions on the lot size or deposit – clients can choose the most suitable conditions for learning and practice.

Swap-Free Account

HFM respects and listens to the needs of its clients, including those who follow Sharia principles. In its quest to be a universal broker, HFM offers a swap-free trading option.

The Islamic account allows trade without paying or receiving swaps (interest rates), which complies with Sharia principles prohibiting riba or interest. Some instruments may incur costs for carrying over a position if extended for several days, but these costs are typically minimal and insignificant.

Swap-free trading conditions on the Islamic account are available for those who follow Sharia principles and other clients on certain trading accounts and specific instruments. These instruments include AUDNZD, AUDUSD, EURCHF, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, USOIL, and others.

Nevertheless, HFM strongly recommends its clients trade predominantly within the day and keep overnight positions to a minimum. The company actively monitors the trading history for the mentioned instruments to ensure proper use of swap-free conditions. It reserves the right to revoke the swap-free status at its discretion.

Copy Trading on HFCopy

HFCopy is an innovative tool from HFM that allows you to copy the trades of successful traders and use their strategies for your trading. It's designed for those who want to improve their trading by studying and reproducing the actions of successful traders.

As a Follower, you can subscribe to any Strategy Provider and follow any strategy that suits you.

HFCopy Strategy Providers
HFCopy Strategy Providers

You have complete control over your account, and you can monitor trades, close positions, withdraw profits, set rescue levels, and allocate volume.

HFCopy Strategy Providers Profile
HFCopy Strategy Providers Profile

As a Strategy Provider, you can showcase your trading skills and results, attracting Followers and earning performance fees. This is an excellent opportunity to demonstrate your skills and make from your performance.

Demo Contests

The "Virtual to Real" demo account contest from HFM is a chance for everyone who wants to improve their trading skills and test their strategies in a risk-free environment. It's designed for those who are just starting their journey in trading or want to hone their skills before moving to real accounts.

HFM Demo Contests
HFM Demo Contests

Participation Terms

Participation in the contest is open to all owners of HFM demo accounts. The competition involves no risk of losing real funds. However, winners receive real cash prizes credited to their real trading accounts.

Prizes

The prize pool includes rewards for the first, second, and third places. The winner receives 2,000 USD, the second place gets 1,000 USD, and the third earns 500 USD.

Contest Duration

Each round of the demo account contest lasts one month. This gives participants enough time to apply and evaluate their trading strategies.

HFM Trading Rewards Loyalty Program

The HFM Trading Rewards loyalty program was created to reward the most active traders. With each trade you make, you progress through the loyalty program levels, earning more and more HFM bars. These bars can be exchanged for valuable rewards, including credit bonuses, access to premium services, and personal consultations with HFM market analysts.

Reward Levels

There are four levels in the program:

  • Red - the starting level you get immediately after registering in the program. At this level, you receive 6 HFM bars for each traded lot.
  • Silver is the level you get after accumulating 31 active trading days. At this level, you receive 8 HFM bars for each traded lot.
  • Gold - the level you get after accumulating 62 active trading days. At this level, you receive 10 HFM bars for each traded lot.
  • Platinum - the level you get after accumulating 105 active trading days. At this level, you receive 12 HFM bars for each traded lot.

Rewards for HFM Bars

Accumulated bars can be exchanged for various rewards, including:

  • Credit bonuses
  • Subscription to Autochartist
  • Access to Silver VPS
  • Personal consultations with an HFM market analyst

Commissions

Rating:2/5

HF Markets' trading commissions are pretty comparable to the market average. However, high swaps can deter long-term trading, and the inactivity fee, while fair, can be quite costly for those who do not trade regularly.

Trading Fees

On the Zero account, the main trading charge is a commission per trade. For other accounts, the costs are spreads and swaps.

Per Trade Commission

HF Markets charges a transaction commission on the Zero account of $3 per lot, which aligns with the market average, making the conditions quite competitive for active traders.

Here's a comparison of the commission per lot for the EURUSD pair among different Forex brokers:

BrokerIC MarketsRaw SpreadPepperstoneRazorHF MarketsZeroVantageRawRoboforexECN
Commission per lot$3.5$3.5$3$3$2.16

Spreads and Swaps

The spreads offered by HF Markets are above the average market range. Swaps at HF Markets are also pretty high, which makes the broker less advantageous for long-term trading strategies.

A table shows the average spread and swaps for major currency pairs on HFM's Premium account.

AssetAverage spreadSwap longSwap short
AUDUSD2.0 pips-3.60 pips0.00 pips
EURUSD1.6 pips-8.00 pips0.00 pips
GBPUSD2.2 pips-3.10 pips-2.80 pips
NZDUSD2.4 pips-1.50 pips-2.50 pips
USDCAD2.6 pips-1.30 pips-5.30 pips
USDCHF2.2 pips0.00 pips-12.50 pips
USDJPY1.9 pips0.00 pips-28.10 pips

Inactivity Fee

HF Markets employs an inactivity fee system that kicks in after 6 months of account inactivity.

For inactivity from 6 months to 1 year, a monthly charge of $5 (or the equivalent amount in the account's base currency) is levied until the account balance reaches zero.

If the account remains inactive for 1-2 years, the monthly fee increases to $10. For inactivity of 2-3 years, the charge is $20 per month.

If the account remains inactive for over 3 years, the monthly fee will be the commission for the previous year plus $10 for each additional year until the account balance is zero.

Deposit and Withdrawal

Rating:5/5

Deposit and withdrawal processes are crucial aspects of interaction with a broker, and HF Markets offers its clients various methods to ensure convenience and speed of transactions. Let's examine the main options for depositing and withdrawing funds from HF Markets.

Deposit Methods

Payment SystemCurrenciesDeposit FeeOperation Limit
SkrillSkrill
USD
0%
from 10 to 10000 USD
Perfect MoneyPerfect Money
USD
0%
from 100 to 10000 USD
FasaPayFasaPay
USD
0%
from 5 to 5000 USD
BitPayBitPay
USD
0%
from 5 to 10000 USD
Bank TransferBank Transfer
USD
0%
from 100 USD
VisaVisa
USD
0%
from 5 to 10000 USD
MastercardMastercard
USD
0%
from 5 to 10000 USD
CryptocurrencyBlockchainDeposit FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
0%
from 30 USD
Логотип LitecoinLTC (Litecoin)LTC
0%
from 30 USD
Логотип EthereumETH (Ethereum)ERC20
0%
from 30 USD
Логотип TetherUSDT (Tether)ERC20
0%
from 30 USD
Логотип TetherUSDT (Tether)TRC20
0%
from 30 USD

It's important to note that HF Markets does not charge a commission for internal transfers between accounts of the same client, which can be convenient for managing various trading accounts.

Withdrawal Methods

Payment SystemCurrenciesWithdrawal FeeOperation Limit
FasaPayFasaPay
USD
0%
from 5 USD
NetellerNeteller
USD
0%
from 5 USD
Perfect MoneyPerfect Money
USD
0%
from 10 USD
SkrillSkrill
USD
0%
from 5 USD
WebMoneyWebMoney
USD
0%
from 5 USD
BitPayBitPay
USD
1%
from 5 USD
Bank TransferBank Transfer
USD
0%
from 100 USD
VisaVisa
USD
0%
from 5 USD
MastercardMastercard
USD
0%
from 5 USD
CryptocurrencyBlockchainWithdrawal FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
0%
from 10 USD
Логотип LitecoinLTC (Litecoin)LTC
0%
from 10 USD
Логотип EthereumETH (Ethereum)ERC20
0%
from 10 USD
Логотип TetherUSDT (Tether)ERC20
0%
from 10 USD
Логотип TetherUSDT (Tether)TRC20
0%
from 10 USD

Before making a withdrawal, ensure that your account has been verified and all your documents are approved. This is necessary to comply with the regulators' requirements and ensure client funds' security.

The withdrawal times from HF Markets can vary depending on the chosen method. The broker processes a withdrawal request within a working day.

Deposit Bonus

HF Markets offers an impressive deposit bonus for all its clients. Regardless of the deposit size, the company increases the amount by 20%, allowing traders to expand their investment opportunities. The maximum bonus is $5,000, making this offer especially attractive for active traders.

Notably, the bonus is applied to every deposit, allowing traders to maximize this opportunity. The bonus funds can be used for trading in the market, and profits can be withdrawn, making this offer even more appealing.

It's important to note that specific terms and conditions apply when using the bonus offer, so it's recommended to familiarize yourself with them before depositing funds and receiving the bonus.

Markets and Products

Rating:4.5/5

HF Markets offers its clients a wide selection of trading assets, allowing for portfolio diversification and finding suitable instruments for individual trading strategies.

Available Markets

Here are the main categories of trading assets available at HF Markets:

  • Forex (Currency Pairs). The broker offers trading on more than 50 currency pairs, including majors (e.g., EUR/USD, GBP/USD), cross rates (e.g., GBP/JPY, EUR/AUD), and exotic pairs (e.g., USD/ZAR, USD/TRY).

  • Commodities. HF Markets provides access to commodities like gold, silver, palladium, platinum, oil (WTI and Brent), natural gas, and soft commodities. Trading these assets allows traders to profit from price changes in fundamental commodities on the global market.

  • Indices. Clients can trade Contracts for Difference (CFDs) on significant world indices such as the S&P 500, NASDAQ, FTSE 100, DAX 30, and others, allowing them to profit from the change in value of the largest companies' stocks.

  • Shares. HF Markets offers trading on 95 CFDs on shares of the largest companies in the US and Europe, such as Apple, Google, Amazon, Facebook, and others. This provides an opportunity to participate in the profits of these companies without direct ownership of the shares.

  • Cryptocurrencies. The platform features CFDs on major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and XRP. Cryptocurrency trading allows for profiting from their market value fluctuations.

  • Bonds. HF Markets provides opportunities to trade CFDs on government bonds, such as Eurobonds and US bonds.

  • ETFs (Exchange Traded Funds). The platform also offers ETFs, which allow investing in various assets and industries.

HF Markets is committed to offering its clients a variety of trading instruments to meet the needs of traders with different levels of experience and interests. The broad range of assets allows investors to optimize their investment portfolios, considering their risk appetite and trading preferences.

However, the smaller number of stocks compared to some competitors may be an essential consideration for some traders.

Trading Platforms

Rating:4.5/5

While HFM offers a wide selection of functional and user-friendly platforms, some traders may be looking for more specialized or innovative platforms that some competitors offer.

MetaTrader 4 and 5

HF Markets provides access to two leading trading platforms that are well-known and popular among traders:

  • MetaTrader 4 (MT4): MT4 is one of the most recognized and widely used trading platforms in the Forex market. It offers an intuitive interface, flexible charting options, a variety of technical indicators and scripts, and the use of trading robots known as Expert Advisors (EAs). MT4 is available for Windows, macOS, Android, and iOS, allowing traders to manage their accounts and monitor the market from any device.

  • MetaTrader 5 (MT5): MT5 is the newer version of the popular trading platform, offering enhanced features and capabilities. These include advanced tools for technical analysis, support for more trading instruments, built-in economic news and a calendar, and improved optimization for automated trading. MT5 is available on multiple platforms, including Windows, macOS, Android, and iOS.

Both platforms allow traders to customize their workspaces, utilize numerous indicators and graphical objects, conduct multiple trading operations simultaneously, and monitor their account statuses in real-time. Additionally, HF Markets offers access to the MetaTrader Marketplace, where traders can find and install additional indicators, advisors, scripts, and trading strategies developed by third-party developers.

HFM MT5 Web Terminal
HFM MT5 Web Terminal

HFM Mobile Application

The broker also has a mobile application for Android and iOS, which allows clients to manage their trading accounts, read news, register for webinars, and even trade on the go. This adds to the convenience for traders who prefer to have access to their trading activities from their smartphones or tablets.

HFM Mobile Application
HFM Mobile Application

Analytics

Rating:5/5

HF Markets offers high-quality analytical services and tools that assist traders in successful trading and making informed decisions. The broker's clients can access premium trading tools, practical analysis and automation programs, regularly updated news, and expert reviews.

Analytical Tools

A wide array of tools are available at HF Markets to enhance trading efficiency. These include Premium Trader Tools for MT4/5, which offer extensive capabilities for analysis and decision-making, the Autochartist program for automatic market scanning and identification of potential trading opportunities, and tools for analyzing trading volumes and market sentiment. Additionally, traders can access practical trading calculators and an up-to-date economic calendar.

HFM Premium Tools
HFM Premium Tools

News and Expert Analysis

The broker actively updates its information segment, providing current market news and expert analytical reviews. Clients can keep track of market developments, receive forecasts on the movement of key currency pairs, and stay informed about global economic events. This enables traders to react to market changes and make well-considered trading decisions promptly.

HF Markets leverages these analytical capabilities to provide traders with the resources they need to understand the market, plan their strategies, and execute trades more effectively, potentially leading to better trading outcomes.

HFM Analysis
HFM Analysis

Education

Rating:5/5

HF Markets is dedicated to creating an optimal educational environment for traders at all levels. Their educational resources cover everything from the basics of Forex and CFDs to complex trading strategies and the psychology of trading.

  • Forex Trading Webinars. From real-time analysis to scalping strategies, HF Markets' webinars cover all aspects of trading. Spots can be reserved for free, providing an opportunity to learn from experts.

  • Educational and Tutorial Videos. Over 20 videos cover everything from basic trading principles to analysis and psychology, helping you enhance your skills.

  • HFM’s E-Course on Forex Trading. This step-by-step course explains Forex principles, helping traders understand complex concepts and strategies.

  • Daily Market Analysis. HFM experts provide timely and accurate market updates, helping you stay on top of the latest trends.

  • Global Economic Reports. Receive in-depth reports on economic activity in various countries to better understand global trends.

  • Gold Trading Guide. Learn about the reliability of gold as an investment and critical factors that influence gold trading.

HF Markets' educational resources are ideal for studying and refining trading skills, allowing you to build confident and well-thought-out trading strategies.

HFM Webinars
HFM Webinars

Customer Support

Rating:4.2/5

HFM's technical support offers several communication channels, including email, telephone, and online chat, ensuring accessibility and convenience for clients. The staff is responsive and professional, as evidenced by numerous client testimonials. However, the lack of instant messaging options for quick communication and the absence of national phone lines may reduce accessibility for some users.

Support Working Hours

The technical support of HFM operates 24/5.

How to Contact Support?

You can reach them via:

HF Markets Pros and Cons

Advantages of HFM

  1. Regulation and Reliability. The broker is regulated by various authorities, including the FCA in the UK, CySEC in Cyprus, and FSCA in South Africa, ensuring the safety of client funds and adherence to high standards of business conduct.
  2. Wide Range of Trading Instruments. HF Markets offers many trading assets, including currency pairs, indices, stocks, commodities, and cryptocurrencies.
  3. Educational Materials and Analytics. Various educational materials, webinars, video tutorials, and analytical reviews are available to help traders improve their skills and make informed trading decisions.
  4. Multi-Language Support. Customer support is available in many languages, making the broker accessible to traders worldwide.

Disadvantages of HFM

  1. No Proprietary Trading Platform. HF Markets offers trading through the popular platforms MetaTrader 4 and MetaTrader 5 but does not provide its unique trading platform, which could be a drawback for traders seeking a more personalized and innovative trading experience.
  2. Absence of Fixed Spreads. HF Markets might not be the best choice for traders who prefer trading with fixed spreads, as only floating spreads are offered on standard accounts.
  3. High swaps and wide spreads. With the Premium account at HF Markets, traders face high swaps and wide spreads, which can be a disadvantage, especially for those who prefer to trade large volumes or keep positions open for long periods.

Conclusion

HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.

HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support. However, as with any broker, it is advisable to conduct additional research and compare trading conditions with other brokers in the market before making a final decision. This due diligence can help ensure that the chosen broker aligns with your trading requirements and investment goals.

Visit HF MarketsTrading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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