- Limited range of markets
HFM is an online broker founded in 2010 that offers a selection of 150-plus tradeable instruments to its clients. The firm has 1.5 million clients worldwide and offers more than 100 stock CFDs. However, client access to specific stock CFDs depends on location.
The broker offers the popular MetaTrader 4 and 5 platforms in different customized versions.
The firm, which is headquartered in Cyprus, is regulated by the Cyprus Securities and Exchange Commission (CySEC). It is also licensed in four other jurisdictions: St. Vincent and the Grenadines, Seychelles, Mauritius, and South Africa.
HFM Markets Features
| Feature | FP Markets |
| Minimum deposit: | $5 |
| Withdrawal fee amount: | No |
| Inactivity fee charged | No |
| Max leverage: | 1:1000 |
| Spread from: | 0.0 pips |
| Customer Support | 24/5 |
| Year founded: | 2010 |
| Headquarters | Cyprus |
| Demo account | Yes |
| Regulation: | SV, CySEC, FCA, FSA, DFSA, FSCA, CMA |
Account Types
HFM offers six types of accounts, Micro, Premium, Zero Spread, Auto, PAMM (Premium), and HF Copy. These HFM account types are believed to provide the best possible trading conditions to the client according to the requirements.
- Premium Account: This account type is best for somewhat expert traders as they can have the flexibility in position sizing. However, the minimum deposit is $100.
- Zero Spread Account: It intends to lower the trading cost. Although with just $200, anyone can open a zero spread account, it suits best for high volume traders, scalpers, and traders who use Expert Advisors (EAs).
- HFCopy: It is a copy trading account in which you can copy other traders’ strategies to earn the potential benefit. However, the strategy provider may change to make their copy available for all. HFCopy requires to deposit of $100 for the follower and $500 for the strategy provider.
- PRO Account: With ultra-low spreads, leverage up to 1:2000 and no commissions, the swap free Pro account is developed to suit the needs of a more experienced trader who wants to take their trading to the next level
- CENT Account: Cent account is a type of trading account that allows you to trade swap free and with cent lots. A Cent lot equals 0.01 of a Standard lot or 1,000 units. The margin requirements are as low as 10 US cents making it a beginner-friendly option for traders transitioning from trading on a Demo account to real trading.
- Top-up Bonus Account: HF Markets top-up bonus is offered as a promotion for a limited time, it will be available on the first transfer to the top-up bonus account.
HFM also offers a demo account to practice before opening a live performance.
Demo Account
From the name, you can understand that it is just a demo account, and you don’t need to deposit any real money. With the demo account, you will get all the access like a real account, including access to the Meta Trader platform. Anyone can open a demo account in HFM broker. However, the trader will not get lifetime access to a demo account. There will be some time limitations.
To get you the HFM review, we have opened a demo account and found that opening a demo account is not a complex task. It can be opened by clicking on the Demo button and then providing all the information.
HFM Sign Up
HFM sign up for live account offer three different types of sign up options, which include individual, corporate, and joint.
However, to sign up for a live account, a trader will have to provide all the real information. For individual HFM sign up, the investor/ trader will provide their personal information only, while for the corporate account, company details are needed. On the other hand, a joint account can be opened by 2 persons. Both of the owners will have the authority to run the account.
HFM sign up requires some basic information from the traders such as name, phone number, email, country of residence, and date of birth.
HFM Deposit and Withdrawals Options
Let’s assume you have successfully completed your forex education through a demo account and have now opened a live one. So, how should you deposit, and how much do you need to deposit?
Although the minimum deposit depends on the account type, HFM offers all the renowned money transaction options except PayPal.
Besides, deposit HFM is faster and available 24/5 without any additional fees.
Like the deposit methods, withdrawal methods also come with a wide variety of options, such as wire transfer, union pay, visa, MasterCard, and other online digital payment options.
Leverage
HFM leverage options offer floating or fixed leverage. These leverage options come in handy for smaller size traders. Besides, the HFM leverage structure intends to increase potential gains. Sometimes, the gains can be multiplied by a certain number of times.
On the other hand, you should keep in mind that HFM leverage may work reversely too. So, it is necessary to understand the forex tools to get the most out of them.
Since HFM operates under different regulations, and all the regulations don’t impose the same leverage options, so the leverage level may fluctuate from country to country.
Trading Platforms
HFM offers both Meta Trader 4, Meta Trader 5 and HFM Application trading platforms. These platforms come with a wide range of opportunities. Besides, the platforms provide numerous tools and software to ease trading. MT4, MT5 and HFM Application are easy to use, so anyone can use them regardless of their experience.
