Note: HFMs official site - https://www.hotforex.com/sv/en/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
HFM, a trading name of HF Markets Group, founded in 2010, is a financial broker that provides both individual and institutional clients with online trading services. HFM has been headquartered in Cyprus but serves several global offices in Dubai, South Africa, and offshore entities in St Vincent and the Grenadines, all under respective regulatory authorities.
HF Markets (Europe) Ltd is regulated by Cyprus Securities and Exchange Commission - CySEC, with regulatory license number 183/12, and regulated by CNMV under license number 3427
HF Markets (UK) Limited, its UK entity, under the regulation of the Financial Conduct Authority - FCA in the UK (license number 801701)
HF Markets (DIFC) Limited, the Dubai entity under regulation of Dubai Financial Services Authority - DFSA ( license number F004885)
HF Markets (Seychelles) Ltd, authorized and regulated by the Seychelles Financial Services Authority (FSA), with Regulatory License No. SD015
Note: The screenshot date is January 17, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
HFX offers popular tradable instruments of the global financial markets, including forex, precious metals, energies, indices, commodities, electronic currencies, bonds, ETFs, stocksDMA, etc.
Account Types
There are six account options on offer on the HFX platform, namely Micro, Premium, Zero Spread, Auto, PAMM Premium, and HFCOPY accounts. The minimum deposit for a Micro account is just $5 (which is quite reasonable for beginners to get started), while the other five account types have much higher minimum initial capital requirements of $100, $200, $200, $250, and $500 respectively.
Leverage
What astonishes us is that the trading leverage available on the HFM platform is incredibly high, with the highest leverage up to 1:1000. Specifically, the leverage is capped at 1:1000 on the Micro account, 1:500 on the Premium, Zero Spread, and Auto accounts, 1:300 on the PAMM Premium account, and 1:400 on the HFCOPY account. High trading leverage may not be that cheering sometimes, for some illegal brokers will use leverage to seduce investors, and most inexperienced investors will end up loss of money.
Spreads & Commissions
All spreads with HFM are a floating type and scaled with the accounts offered. For example, spreads start from 0 pips on the Zero Spread account, while other account holders have spreads from 1 pip.
As for the commission, there is a $6 per lot (round turn) commission on the Zero Spread account, while no commission on the other account types.
Trading Platform
HFM offers traders MT4 and MT5 trading platforms, available on desktop, web, and mobile versions. Both MT4 and MT5 are popular and powerful trading platforms that provide a bridge for traders to enter the financial markets, and HFM ensures that the best features of each platform are fully utilized to provide the perfect trading environment for its clients.
Deposit & Withdrawal
Deposit and withdrawal methods welcome wire transfers, credit/debit cards like Visa and MasterCard, FasaPay, Neteller, and WebMoney. The minimum initial deposit requirement with HFM is just $5. The bank may charge a transfer fee of under $100 while deposits or withdrawals via wire transfers.
Customer Support
HFMs customer support can be reached by telephone: +44 2030978571, email: support@hfm.com. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines; Katherine & West Suite 18 Second floor 114 West Street Sandton, Johannesburg 2031; Room S203A, Second Floor, Orion Complex, Victoria, Mahe, Republic of Seychelles; Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus.
Pros & Cons
Frequently Asked Questions (FAQs)
2023-02-16 12:09
2022-12-14 10:54
