HFM Review formerly HotForex year Is it a Legit Broker?

If you’ve traded with HFM, please let me know about your experience. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings https://lunarcapital.world/ and on this page. We work hard to offer you valuable information about all of the brokers that we review. Currency trading on margin involves high risk, and is not suitable for all investors. HFM has received 60+ industry awards from well-respected sources.

The HFM standard account, called HFM Premium Account, charges spreads from 1.4 pips. However, it should be noted that PAMM accounts generally have higher spreads than normal accounts. The HFM PAMM account is a managed account that caters for traders and investors exclusively under the regulation of the Financial Services Authority (FSA) of Seychelles. Additionally, The Top Up account also comes as a swap-free option, accommodating Islamic traders who need to comply with the Shariah Law.

HFM (and all the HF Markets Group entities) ensures client funds’ protection through segregated bank accounts, safeguarding them in case of broker insolvency or bankruptcy. HFM’s solid for regular trading, just watch those funding fees on certain accounts. The minimum deposit is $5 for most payment processors, except for Skrill, SGD wire transfers, and PayRedeem, where it is $10, and bank wires, which require $100. I like the trading environment at HFM for both beginner and advanced traders. I like to note the awards for best trading conditions and client security, as they belong to the HFM core offering to traders, where HFM excels. I recommend caution with trading contests, as they may promote reckless trading habits, especially among beginner traders chasing a prize rather than learning to trade.

HFM Premium Pro Account

Negative balance protection ensures traders cannot lose more than their deposit, but they must deploy proper risk management to avoid magnified trading losses. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based account. The commission-based alternative commences with a raw spread of 0.0 pips and average spreads of 0.2 pips for a commission of $6.00 per lot or total costs of $8.00 for major currency pairs. With more than 2,500,000 live accounts supporting 27+ languages, HFM understands the needs and requirements of profitable traders, for which I applaud and recommend them.

Yes, HFM offers several bonuses and promotional offers to its traders outside the EU, the UK and Australia. For more information about this topic, you can have a look at our HFM minimum deposit article. In order to meet the HFM minimum deposit, you can use payment methods such as bank wires, credit/debit cards, ewallets and cryptocurrencies. Regarding the HF Markets for traders in the EU, UK, and Australia the list of the available account base currency is USD, EUR, PLN. Additionally, within the European Union, HF Markets provides Negative Balance Protection, which means that traders will never lose more money than they deposit.

• They offer an unlimited demo account with a virtual balance of $100,000 and real-time data.
• HFM’s free webinars also enhance the overall approach to educating beginner traders.
• The HFM Zero account requires a minimum deposit of $0 which makes it readily accessible.

Overall4.0/5Fees4.0/5Deposit and withdrawal5.0/5Asset selection4.5/5Ease of account opening5.0/5Regulation and security5.0/5 For over a decade, DailyForex has been the trusted Forex broker authority, establishing an unrivalled reputation for rigorous research and journalistic integrity. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. This may impact how, where and which companies / services we review and write about.

HFM offers a well-balanced asset selection in an excellent trading environment. Not all payment processors are available to every client, restricted by geographic location, and HFM sends withdrawals to clients via the deposit path and any access via bank wire. Processing times remain dependent on the payment processor and geographic location of traders, ranging between instant and ten business days. Terms and conditions apply, and traders should understand them fully before participating in bonuses and promotions.

I keep my main account there, so they’re trustworthy. Waited 2 days for help with a deposit once. Platform stays up during crazy volatility, unlike other brokers I’ve tried. MetaTrader often has decent execution, though spreads widen during news events.

The Top Up account features spreads starting from 1.4 pips, which is 40% higher than the industry standard of 1 pip, without any trading volume commissions. The Premium Pro account has a minimum deposit requirement of $5,000 for Professional Clients and $500 for Experienced Retail Clients (Poland traders only). Within the HFM Premium account, traders can avail of spreads starting from 1.4 pips, which is 40% higher than the industry standard of 1 pip.

What is the HFM trading platform?

Traders can choose between the MT4 and MT5 trading platforms within the HFM Pro account. The HFM Premium account supports multiple trading platforms, including MT4, MT5, and the HFM App. The account also comes with an Islamic swap-free option, accommodating a range of trading preferences and needs. Traders using the HFM Zero account can choose between the MT4 and MT5 trading platforms.

Level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using… He expands his analysis to stock brokers, crypto exchanges, social and copy trading platforms, Contract For Difference (CFD) brokers, options brokers, futures brokers, and Fintech products. He became an expert in financial technology and began offering advice in online trading, investing, and Fintech to friends and family.

Anyone have experience with HFM broker – is it trustworthy

However, in the context of Cent Accounts, HFM’s spreads are more competitive than its competitors. Cent account is ideal for those moving from a demo to a real trading environment. The HFM demo account is a type of trading account that allows users to experience the HFM service at no cost using virtual funds. Since your funds are kept in segregated bank accounts, you can safely withdraw your money whenever you want. However, HFM will cover these commissions if you deposit more than those amounts. Your funds will be ready on the HFM account almost instantaneously, except for the bank wire deposits which may take a couple of business days to get through.

HFM enables deposits and withdrawals through several methods including wire transfer, credit/debit cards (Visa and Mastercard), ewallets (Neteller and Skrill), and crypto. If you deposit less than $100 with a bank wire (or less than $250 under the regulation of the Cyprus Securities and Exchange Commission, CySEC), you might be charged processing fees. The selection may slightly vary depending on your area and the account type selected. This ensures clients’ investments are secure and minimises the risk of losing more than their initial investment.

Can I test all HFM account types with a demo account?

Guaranteed Stop LossScalpingHedgingOne-Click TradingOCO OrdersInterest on MarginHFM offer their proprietary online trading app, which is available for both Android and iOS. The upgrades result in a very competitive solution, and HFM also developed its proprietary mobile app, HFM App.Overview of Trading PlatformsMT4MT5cTraderProprietary PlatformAutomated TradingDOM? They are available as a desktop client, a webtrader, and a mobile app, while MT4 comes with the PAMM module. Trading with a regulated broker will limit the potential for fraud and malpractice.

Clients can review the entire withdrawal conditions on the HFM website, where HFM transparently posts them.I like the trading environment at HFM for both beginner and advanced traders. Beginner traders get a well-thought-out introduction to trading and high-quality research, and advanced traders benefit from a trading environment supportive of manual, algorithmic, social, and copy trading. HFM does not ask unnecessary questions, the process is hassle-free, and the back-office user friendly.I like the trading environment at HFM for both beginner and advanced traders.

Awards

Yes, HFM is considered Lunar Capital website a good broker for a variety of trading activities. HFM offers CFD (Contract For Difference) trading on Forex, commodities, stocks, cryptos and indices. However, commissions can rise quickly if you’re trading large volumes.

HFM Premium Account

Besides the 12-plugin MT4/MT5 upgrade and the Autochartist plugin, HFM offers VPS hosting, supporting 24/5 algorithmic trading and API trading, allowing demanding clients to connect advanced trading solutions to the HFM infrastructure, plus a sentiment index. Clients can access their accounts through the app and trade more than 500 CFDs. HFM has established itself among the most competitive Forex brokers with a quality mix of products and services.

I recommend new traders begin with the Forex education videos. The HFM Trader’s Board has data on how HFM clients trade and a lucrative partnership program is also available.A nine-member team provides additional market commentary and analytics. Depending on the trading strategy, it may become the most significant fee per trade.

• Also, depending on the method there is a minimum withdrawable amount up to $100.
• HFM does not charge internal deposit or withdrawal fees, except for a 1% levy on cryptocurrency withdrawals, but third-party costs apply.
• HFM is a CFD (Contract For Difference) Forex broker with execution style based on ECN (Electronic Communications Network) and STP (Straight-Through Processing) models.
• In other words, for every trade it charges $14 which is 40% higher than the industry standard.

Trading Platforms

The base currency options within the HFM Zero account include USD, EUR, PLN, NGN, and JPY, depending on the trader’s region and the broker’s entity. The HFM Cent account supports both MT4 and MT5 trading platforms, catering to a range of trader preferences. The HFM Cent account is a beginner-friendly trading option only available to international clients under the regulation of the Financial Services Authority (FSA) of Seychelles.

HFM is okay for basic trading but their rebates don’t compare well to other brokers. Decent broker but their swap rates kill overnight trades. Great for day trading, but financing costs kill swing trades fast. Overall, a solid choice for active traders. Hey everyone, I’m looking for some feedback about HFM as a trading broker. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.

I’ve used them with another broker for about a year. They usually come with crazy high trading requirements. Those deposit bonuses look good but check the fine print first.

HFM Cent Account

Other than this, HFM also maintains a presence on various social media platforms, including Facebook, X and LinkedIn, enhancing their accessibility for their clients. Deposit and withdrawal fees vary, with specific charges for bank wire deposits below $100 and BitPay withdrawals. They also make money through deposit and withdrawal fees and B-Book execution policies.

The Zero account provides traders access to all HFM trading instruments globally, with a minimum trade size of 0.01 lot. The HFM Zero account features raw spreads from 0 pips and a trading volume commission of $6/lot round turn. The minimum deposit is $0, but it takes $100 for the most competitive trading account. The commission-free trading account lists a minimum spread of 0.5 pips but carries an average one of 1.4 pips or $14 per 1.0 standard lot. HFM generates revenue through spreads, trading commissions, overnight fees, inactivity fees, currency conversion fees and additional premium services. The Top Up account supports various base currencies including USD, NGN, ZAR, and JPY, based on the trader’s location, with a minimum deposit requirement of $0.

The Premium account offers a straightforward trading experience with no minimum deposit and no trading volume commissions, which makes it a standard account offer for retail traders. For the PAMM Premium account, traders can benefit from spreads starting at 1.6 pips without any trading volume commission, which is 60% higher than the industry standard of 1 pip. The HFM Zero account offers spreads starting from 0 pips, with a trading volume commission of $6/lot round turn, which is 14% cheaper than the industry standard commission of $7/lot. HFM offers traders commission-free Forex trading with higher spreads, a highly competitive commission-based alternative.Average Trading Cost EUR/USD1.3 pipsAverage Trading Cost GBP/USD1.9 pipsAverage Trading Cost WTI Crude Oil$0.06Average Trading Cost Gold$0.27Average Trading Cost Bitcoin$76 The HFM Premium Pro account features competitive spreads starting from 1.2 pips, which is 20% higher than the industry standard of 1 pip, with no trading volume commission attached.

Top Up account grants access to all HFM trading instruments and provides a minimum trade size of 0.01 lot. Premium Pro account provides access to all HFM trading instruments with a minimum trade size of 0.01 lot. Pro account provides access to all HFM trading instruments with a minimum trade size of 0.01 lot. The HFM Pro account is specifically designed for experienced traders, offering ultra-low spreads and no commissions under the regulation of the Financial Services Authority (FSA) of Seychelles. The Premium account provides access to the full range of HFM trading instruments, with a minimum trade size of 0.01 lot.