HFM (Hotforex)Review: Features, Pros, Cons, and More 2024!

HFM (HF Markets), previously known as HotForex, is a forex and CFD broker that provides online trading services globally. Based in Australia, it is regulated by top regulatory authorities, including the FCA, CySEC, CMA, FSC, SVGFSA, FSA-S, FSCA, and DFSA. HFM (HF Markets) offers a variety of trading instruments, including Forex, Gold, Metals, Stocks, Bonds, Indices, Energies, Commodities, Cryptos, and ETFs. It supports popular trading platforms and tools such as MT4, MT5, and WebTrader.

Though HFM (HF Markets) is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at HFM (HF Markets), exploring its features, pros, cons, and more. By reading this review, you will gain a better understanding of whether HFM (HF Markets) is the right broker for your trading needs and preferences.

What is HFM (HF Markets)?

Founded in 2010, HFM is a renowned broker with multiple regulations and ultra-fast executions of over 1000 trading instruments on its proprietary and MetaTrader platforms. The broker has received over 60 industry awards for outstanding performance. It boasts about 2.5 million clients from all over the world.

Key Features:

• Applicable For: Applicable for all jurisdictions including FCA, CySEC, CMA, FSC, SVGFSA, FSA-S, FSCA, DFSA
• Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity. 
•  KYC Verification: Required 
• Trading Instruments:  Forex, Gold, Metals, Stocks, Bonds, Indices, Energies, Commodities, Cryptos, and ETFs
• Trading Platforms: MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading
• Minimum Deposit:  $0
• Maximum Leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips for the Zero account, 0.6 pips for the Pro account, and 1.6 pips for the Cent and Premium account.
• Minimum Trade Size: 0.01 lot. 
• Maximum Trade Size (Lot restriction per Ticket): 200 Lots 
• Funding Currencies: USC
• Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account. 
• Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
• Trading Style Allowed: All including Scalping, hedging, and EA Trading. 
• Stop Out Level (retail): 20%
• Margin Call Level: 50% 
• Negative balance Protection: Yes 
• Investor Protection:  Available under ASIC and CySEC regulations. However, the Investor protection scheme does not apply to FSA jurisdiction.

HFM (HF Markets) Pros and Cons

Pros:

• Regulated by the CySEC, FCA, FSCA, DFSA, CMA, FSC Mauritius, and FSA Seychelles.
• The Maximum Leverage is as high as 1:2000
• Favorable trading conditions and low spreads – from 0 pips;
• Trading is available on the MT4, MT5, and HFM trading app
• Available trading tools are MT4 premium trader tools, Autochartist, free VPS, etc
• Insurance coverage of up to $5,000,000
• Copy trading via HF Copy.
• Market news, analysis, outlook, and webinars are provided by a dedicated team of analysts

Cons:

• Premium Pro account requires a $5000 minimum balance
• To copy trades on HF copy, you need a deposit of €300.
• No micro accounts for European beginner traders.
• No bonuses for EU Clients 
• Few account currencies, which is why some clients have to pay for double conversion
• Customer support is closed on weekends.

Our Ratings for HFM (HF Markets):

Review and Reputation on Public Domains:

Public review sites like Trustpilot and Forex Peace Army have become important sources of information about brokers. Many traders share their real-life trading experiences on these platforms. However, there are also many fake or paid reviews on these platforms, and sometimes competitors leave negative reviews. This makes it challenging to find genuine reviews. By carefully reading the content and context of the reviews, you can often discern their authenticity. Do not blindly rely on these reviews; instead, use them as part of your overall broker research process

HFM (HF Markets) Ratings and Reviews from Trustpilot:

HFM (HF Markets) has earned a rating of 4.3 out of 5 on Trustpilot. These high ratings indicate customer satisfaction and trust. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.

HFM (HF Markets) Ratings and Reviews from Forex Peace Army:

HFM (HF Markets) has achieved an average rating of 3.75 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. Several reasons might contribute to this. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. Typically, fake, paid, or competitor reviews are generic. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them. For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service.

Final Verdict:

HFM (HF Markets) is a regulated forex and CFD broker that offers its trading services to traders and investors worldwide. It provides a wide range of trading instruments, including Forex, Gold, Metals, Stocks, Bonds, Indices, Energies, Commodities, Cryptos, and ETFs. The broker’s spreads start from as low as 0.0 pips, and it offers high leverage (up to 1:2000) and a low minimum deposit (as low as $0). With top-tier regulations, a variety of trading instruments, high leverage, low minimum deposit, fast execution, and flexible account types, HFM (HF Markets) can be a good choice for many traders.

However, the broker does not accept US clients. It also does not have any investor protection scheme for non-UK/EU traders. Additionally, HFM (HF Markets) does not offer any real stocks or cryptocurrencies; it offers only forex and derivatives. 

If you are a forex and CFD trader looking for a trusted broker, HFM (HF Markets) can be an ideal choice for your trading journey. However, We always encourage traders to test brokers with a demo account or with a small deposit. Once you are satisfied with the trading conditions of the broker, you may proceed with real trading.