HF Markets (HFM) Review 2022 - The Good and the Bad

Updated May 26 2022

HF Markets (HFM) Review 2022 - The Good and the Bad

HF Markets (HFM) in a Nutshell

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71.24% of retail CFD accounts lose money.

🏛 Regulators CySec, FCA, DFSA, FSCA, FSA(S), FSA(SV), CMA.
💳 Minimum Deposit ($) 5
💰 Payment Methods Credit Card, Debit Card, Neteller, Skrill, Sofort, FasaPay, WebMoney, BitPay, PayRetailers, PayRedeem, Bank Transfer.
💵 Base Currencies 6 - USD, EUR, NGN, JPY, ZAR, THB.
📚 Assets Offered
  • CFDs on currencies, commodities, indices, ETFs, stocks and bonds.
  • Real stocks and ETFs.
📙 Stocks 2,113 Real Stocks / 54 CFDs
📘 Currency Pairs 53
💸 Cryptos N/A
💪 Retail Leverage Up to 1:1000 (Non EU)
💪 Pro Leverage Up to 1:500 (EU Only)
✍ Custom Leverage Yes
🎲 Deleveraged Trading Yes
🎓 Demo Account Yes
💰 Commissions

Yes depending on account type:

  • Micro accounts have no commissions.
  • Premium accounts have no commissions
  • Zero Spread accounts have a minimum commission that varies between $3 to $4 per lot traded
  • PAMM (Premium) accounts have no commission
  • PAMM (Premium Plus) accounts have a commission of $8 per lot round turn
  • HFCopy accounts have no commissions

Compare HF Markets (HFM)

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HF Markets (HFM) in 60 seconds

HF Markets (HFM) is a global broker founded in 2010 under the brand name HotForex that specialises in CFDs trading on currencies, commodities, indices, stocks, ETFs, bonds and futures. Recently they added to their portfolio commission-free real stocks and ETFs.

HF Markets (HFM) Full Review

Here’s what we’ll talk about during our review: 

Is HF Markets Safe?

HF Markets (HFM) is the new brand name of HotForex which was founded in 2010. As of this moment, their whole group holds 7 different financial licenses from which 2 belong to top-tier regulators:

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

5

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Given the long history of the brand, their transparency during their new branding and their regulatory framework, we consider them a safe broker.

HF Markets Minimum Deposit and Withdrawal

HF Markets (HFM) minimum deposits vary as follows:

HF Markets deposit methods are:

It’s very important to point out that deposit options can vary geographically due to each country’s restrictions so always check on your client area before depositing what options are available.

HF Markets (HFM) accepts the following base currencies:

HF Markets Account Types

HF Markets (HFM) provides 5 different account types, here’s how they work:

Account Features
Micro
  • Minimum deposit of $5
  • No commissions
  • Maximum Leverage of 1:1000
  • Spreads from 1 Pip
Premium
  • Minimum deposit of $100
  • No commissions
  • Maximum Leverage of 1:500
  • Variable Spreads
Zero Spread
  • Minimum deposit of $200
  • Variable commission structure based on products of ($3 or $4 per lot side)
  • Maximum Leverage of 1:500
  • Spreads from 0 (in currencies)
PAMM (Premium and Plus)
  • Minimum deposit of $250
  • No commissions on plus and $8 per lot round turn on Plus
  • Maximum Leverage of 1:300
  • Spreads from 1 Pip
HFCOPY
  • Minimum deposit of $100 for followers and $500 for traders
  • No commissions
  • Maximum Leverage of 1:400
  • Spreads from 1 Pip

The good thing about HF Markets (HFM) is that they allow users to open multiple accounts with different conditions from their client area.

HF Markets Client Area Dashboard

You could have an account only to copy, a CFD account with leverage 1:300 and another CFDs account with leverage 1:1 if you choose to. You’re not forced to trade under leverage if you don’t want to.

After your accounts are open, you’ll find that you can easily manage them as wallets from your client area.

HF Markets Client Area Wallets

Another positive point is that internal transfers between accounts are possible yet it’s very important to point out that when you open an account, your base currency cannot be changed after.

HF Markets Trading Fees

HF Markets charges spreads, commissions depending on the user’s account type and inactivity fee. Let’s go over each of them:

Spreads

HF Markets (HFM) charges variable spreads depending on each account type, here’s how their spreads compare against similar competitors:

Asset HF Markets (HFM) OctaFX IC Markets
EUR/USD SpreadDynamic - From 0 Pips to 1.3 PipsDynamic - From 0.6 PipsDynamic - From 0 to 0.6 Pips
SP500 SpreadDynamic - From 41 PipsDynamic - From 20 PipsDynamic - From 20 to 45 Pips
Gold SpreadDynamic - From 25 PipsDynamic - From 180 PipsDynamic - From 30 Pips
TSLA SpreadDynamic - From $0.33N/ADynamic - Market Spread
XLK SpreadN/AN/AN/A
BTC SpreadN/ADynamic - From $57Dynamic - From $8.7 to $42

Their spreads are competitive especially when trading with their Zero Spread account which has a commission driven-approach and will matter greatly for high volume traders. On the other hand, for low volume traders looking to experiment in currencies with no commissions, the spread in their Micro accounts can be costly.

Commissions & Fees

HF Markets (HFM) has a great commission structure depending on the type of trader and the selected account, here’s how their commissions compare against similar competitors:

HF Markets (HFM)OctaFXIC Markets
Commissions

Yes depending on account type:

  • Micro accounts have no commissions.
  • Premium accounts have no commissions
  • Zero Spread accounts have a minimum commission that varies between $3 to $4 per lot traded
  • PAMM (Premium) accounts have no commission
  • PAMM (Premium Plus) accounts have a commission of $8 per lot round turn
  • HFCopy accounts have no commissions
No

No commissions in standard accounts but rather a 1 Pip spread markup on interbank prices received. For Raw spreads accounts, $7 per lot round turn.

HF Markets also charges an inactivity fee of $5 monthly after 6 months of inactivity but on the positive side they don’t charge deposit or withdrawal fees.

HF Markets Available Assets

HF Markets (HFM) has a total asset offering of around 1,200 CFDs and 2,100+ real stocks. Their CFDs portfolio definitely lacks content when compared to major industry players but they definitely compensate for it with their real stocks offering. Sadly, they do not offer cryptocurrencies.

Here’s how their assets compare against similar competitors:

AssetHF Markets (HFM)OctaFXIC Markets
Stocks2,113 Real Stocks / 54 CFDsN/A1,600 +
Currency Pairs533561
Commodities13522
Indices111025
ETFs34N/AN/A
CryptocurrenciesN/A3018
Bonds3N/A11
OptionsN/AN/AN/A
Futures14N/A4

HF Markets Trading Platforms

HF Markets (HFM) is a MetaTrader broker, meaning that their platform is created by the well-known company Metaquotes Inc. When creating an account, users are able to select which platform they want to trade with.

HF Markets Client Area Platforms

Currently, HF Markets (HFM) only provides MetaTrader 4 and 5 for the following devices:

Sadly, they do not provide a MetaTrader desktop version for Mac.

Accessing the web trader is a smooth and simple process. From within your client area you’ll always have the option to launch each platform available to you.

HF Markets MT5 Web Trader

It’s very important to remember that when you create a new account, your credentials to log into each MetaTrader version will be available on-screen after creating the account or on your email that confirms the account creation.

While there is not much point in displaying the standard generic version of MetaTrader 4 or 5 on a mobile device (as it’s the same everywhere), we do want to point out that it’s very important to select the correct entity from which your account was created as HF Markets is an international multi-regulated broker.

HF Markets Entity Selection Mobile

When logging in for the first time via MetaTrader 4 or 5, you’ll be asked to select which server or entity of HF Markets you want to access, this information will also be provided when creating your account.

HF Markets Mobile App

HF Markets (HFM) mobile app is more of a mobile companion than a place where to actually execute financial transactions. Since HF Markets is a MetaTrader broker, their own app has no trading capabilities but rather serves as a position monitor, asset explorer and account management tool. Let’s go over its main areas:

Client area access

Once you log in to HF Markets (HFM) app, you’ll be able to perform every single action that you would want to do from the web browser but in your mobile app.

HF Mobile App Menu

From deposits, withdrawals, opening new accounts or  internal transfers, everything will be possible and easy to accomplish.

News

HF Markets (HFM) provides in-app news in a simple short text-based format.

HF App News

It’s important to point out that their news are mostly forex-driven so if you’re looking for stock news, you’ll find your needs are not met.

Asset View

From within HF Markets (HFM) app, any user can explore their full asset database and view relevant news and statistics about it.

HF App Asset View

Another important feature is that users can assemble watchlists of their favourite assets.

HF Copy

One of the best features of HF Markets (HFM) is their copy trading capabilities. Despite their system not being so streamlined like other major players in their industry, they created a very user-friendly solution with great selling points. Let’s take a look:

From within their mobile app, any user can click to view the strategy list, where they’ll see the top traders ranked according to their gains.

HF App Strategy List

Once you click on a particular user, you’ll be presented with their profile and their strategy details where users will explain in a short sentence what their strategy is and then you’ll be able to see their full account analytics.

Notice that each trader charges a performance fee, which is important to keep into consideration when choosing to follow or copy a particular trader.

HF App Strategy 1

As we scroll down, we reach our favourite part of the strategy details: Financial statistics. In here there is a completely transparent view on a user’s initial deposit, total withdrawals and profits generated. 

When compared to other copy trading providers, HF Markets is definitely taking a great approach towards transparency by displaying this information.

HF App Strategy Details 2

Last but not least, you’ll be able to see the users’ full trading activity.

HF App Strategy Details 3

HF Markets copy trading is definitely a great feature to have both for experienced traders and new investors looking to explore the markets without having to learn by themselves.

HF Markets Research and Analysis Tools

HF Markets (HFM) provides the following research and analysis tools:

All the above tools with the exception of the analysis articles are mostly driven towards experienced traders looking to analyse patterns or trade with particular strategies.

HF Markets Educational Tools

HF Markets (HFM) provides the following educational tools:

From all the above tools, our favourite tool was the educational videos, they provide definitely some good insights for new traders and cover topics from beginner to advanced.

Additionally, HF Markets provides a very fun activity which can definitely be considered educational and profitable at the same time, demo contests.

HF Markets Demo Trading Contests

On a regular basis, HF Markets creates a demo contest for its clients where each trader is awarded different cash prizes into their trading account based on their final position against other traders.

Verdict

HF Markets (HFM) has a great account offering for all types of traders:

Our favourite features of HF Markets were definitely their well created client area and their HFCopy statistics which are transparent, simple and guarantee that followers know what they’re getting themselves into.

On the negative side HF Markets total asset offering is definitely lacking when compared to major competitors (as they also do not offer cryptocurrencies) and their platform offering is limited to MetaTrader 4 or 5.

If you’re looking for a MetaTrader broker that provides any of the features mentioned in our review, HF Markets can definitely be a great choice for you.

Author

TheTradingBible.com

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71.24% of retail CFD accounts lose money.