HFM Review 2024

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What is HFM?

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HFM, also known as HF Markets and formerly known as HotForex, is a multi-asset regulated, licensed global broker. It provides trading services and facilities to both retail and institutional clients. HFM offers a proprietary copy trading platform, HFcopy, and provides a decent selection of over 1,000 CFDs and 47 forex pairs. It has an enhanced MetaTrader offering and quality research. HFM stands out for its in-house research department. This can be very useful depending on your type of trading. It offers a range of CFD trading products like Forex, cryptos, commodities, stocks, and indices. HFM offers two types of accounts: a spread-only ‘Premium’ account and a commission-based ‘Zero Spread’ account. The spreads for each of these accounts can be low or wide depending on the currency pair you trade with. HFM offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. It also has its own mobile trading platform called HFM app for Premium account holders. This app appears to be built on the MT5 platform so shares many common features. HFM also has another in-house developed app for copy trading called HF Copy. However, it requires 300 EUR to follow (copy) existing strategies and is not as mature as eToro’s offering. In the Forex market, the term Margin is the amount of money required to open a leveraged position, or a contract in the market. Overall, HFM is a renowned forex trading platform known for its low-risk environment, competitive spreads, secure transactions, and swift trade execution.

What is the Review Rating of HFM?

Forexbrokersinfo.com is regularly checking the ratings of HFM at forex broker review sites.
HFM has been reviewed and rated by:
  • 55brokers: 55brokers rated HFM with a score of 90. This rating was last checked at 2024-01-06 02:35:02. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
  • Brokersview: Brokersview rated HFM with a score of 63. This rating was last checked at 2024-03-10 00:45:02. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
  • Forexbrokers: Forexbrokers rated HFM with a score of 80. This rating was last checked at 2024-01-07 00:03:02. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
  • Trustpilot: Trustpilot rated HFM with a score of 8. This rating was last checked at 2024-01-05 20:50:03. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
  • Wikifx: Wikifx rated HFM with a score of 83. This rating was last checked at 2024-03-11 23:59:02. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
The Weighted Average Review Rating calculated by Forexbrokersinfo for HFM is 79.

What are the Pros of HFM?

HFM, also known as HF Markets, is a popular platform in the forex trading world. Here are some of the key advantages of using HFM:. 1. Enhanced MetaTrader Offering and Quality Research HFM offers an enhanced MetaTrader suite, which includes premium trader tools developed by FX Blue Labs. These tools, combined with signals via the Autochartist plugin, significantly enhance the default MetaTrader suite. 2. Proprietary Copy Trading Platform HFM offers a proprietary copy trading platform, HFcopy. This platform allows traders to copy the strategies of successful traders, providing a unique opportunity for beginners to learn from experienced traders. 3. Wide Selection of CFDs and Forex Pairs HFM provides a decent selection of over 1,000 CFDs and 47 forex pairs. This wide range of options gives traders the flexibility to diversify their portfolio and explore different markets. 4. Advanced Insights HFM utilizes big data and AI to deliver sentiment analysis and other research tools. This feature provides traders with valuable insights that can help them make informed trading decisions. 5. Return on Free Margin (ROFM) Offering HFM recently introduced the ability for traders to earn up to 3% interest on the unused margin in their account. This is part of their Return on Free Margin (ROFM) offering. 6. Indemnity Insurance HFM offers indemnity insurance (civil liability) of up to five million euros from Lloyds Insurance. This insurance is valid through June 23rd, 2023. 7. No Minimum Deposit There is no minimum deposit required to open an HFM premium account. This makes it very accessible to traders. 8. Lower Spreads The Premium Account offers lower spreads than other accounts. This can save traders money on their trades. 9. Access to a Wide Range of Markets With the HFM Premium Account, traders will have access to a wide range of markets, including forex, CFDs, and stocks. 10. Advanced Trading Tools and Platforms The Premium Account gives traders access to advanced trading tools and platforms, such as MetaTrader 4 and MetaTrader 5. These platforms offer a variety of features that can help improve trading performance. 11. 24/7 Customer Support The Premium Account comes with priority 24/7 customer support. This ensures that traders can get the help they need whenever they need it. In conclusion, HFM offers a range of benefits for forex traders, from advanced trading tools to a wide selection of CFDs and forex pairs. These features make it a strong choice for both beginner and experienced traders.

What are the Cons of HFM?

HFM, also known as HF Markets, is a well-known platform in the forex trading industry. However, like any trading platform, it has its drawbacks. Here are some of the cons associated with HFM:. Limited Web App: HFM does not offer a web app for trading besides the MetaTrader suite and HF Copy. This could limit traders who prefer using a web-based platform for their trading activities. Educational Content: While HFM’s educational content continues to improve, it still trails behind industry leaders. This could be a disadvantage for new traders who rely on educational resources to learn about forex trading. Trading Costs: The trading costs at HFM are slightly above the industry average across all account types. This could impact the profitability of traders, especially those who trade frequently. Copy Trading Platform: HFM’s copy trading platform, HFcopy, requires 300 EUR to follow (copy) existing strategies. Moreover, it is not as mature as offerings from other platforms like eToro. This could be a disadvantage for traders who rely on copy trading. Mobile App: The charts on the HFM mobile app feature just four indicators. While the mobile charts are otherwise fairly robust, the limited number of indicators could be a disadvantage for traders who rely on technical analysis. Availability: The availability of certain account types, such as the Hotforex Premium Account, is limited in some countries. This could restrict traders in those regions from accessing the full range of services offered by HFM. In conclusion, while HFM offers a range of services and features for forex trading, potential users should consider these cons when deciding whether to use this platform. As always, it’s important for traders to conduct their own research and consider their individual trading needs when choosing a forex trading platform.

Is HFM Regulated and who are the Regulators?

HFM, also known as HF Markets, is a well-regulated entity in the forex market. It operates under the supervision of several regulatory bodies across the globe. Cyprus Securities and Exchange Commission (CySEC): HF Markets (Europe) Ltd is authorised and regulated by CySEC with Licence Number 183/12. CySEC is the supervisory and regulatory authority for Investment Services firms in Cyprus and is a member of the Committee of the European Securities and Markets Authority (ESMA). Financial Conduct Authority (FCA): HF Markets (UK) Ltd is authorised and regulated by the FCA under firm reference number 801701. FCA is an independent public body governed by the Financial Services and Markets Act 2000 (FSMA), working alongside the UK Treasury. Dubai Financial Services Authority (DFSA): HF Markets (DIFC) Ltd is authorised and regulated by the DFSA under licence number F004885. DFSA is the independent regulator of financial services conducted in or from the Dubai International Financial Centre. Financial Sector Conduct Authority (FSCA): HF Markets SA (PTY) Ltd is authorized and regulated as a Financial Service Provider (FSP) from the FSCA in South Africa, under the licence number 46632. Financial Services Authority (FSA): HF Markets (Seychelles) Ltd is incorporated under the laws of the Republic of Seychelles with registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015. In the European Economic Area (excluding Belgium), Switzerland and Mauritius, HFM operates through HF Markets (Europe) Ltd. The company is registered with several national regulators including the FCA in the UK, CySEC in Cyprus, BaFin in Germany and the ACPR in France. These regulatory bodies ensure that HFM adheres to strict standards of operation, providing a secure and transparent trading environment for its clients. They oversee the firm’s operations, ensuring compliance with financial standards and practices. This includes the security of client funds, the fairness of its trading systems, and the integrity of its financial reporting.