HFM Review – What to Expect From The Broker

HFM is an international forex and CFD broker with over a decade of experience in the financial markets. The broker provides access to various account types and trading instruments, along with regulatory oversight in multiple jurisdictions. HFM's services are available in regions including Africa, Asia, and Latin America.

The broker provides access to trading platforms that are relatively easy to use, with features such as competitive spreads and support for different trading strategies. In this HFM broker review, we will explore what to expect from the broker, including its trading platforms, available instruments, regulations, fees, and other essential features.

Basic Information About HFM

• Website Address: www.hfm.com
• Instruments: CFDs on forex, energy, indices, stocks, metals, bonds, commodities, cryptocurrencies, and ETFs.
• Minimum Deposit: No minimum deposit on the Cent, the Premium, the Top-up Bonus, and the Zero accounts. $100 for the Pro and $250 for the Pro-plus.
• Demo Account: Yes, with a virtual balance of $100,000 and real market conditions.
• Trading Platforms: MetaTrader 4, MetaTrader 5, HFM Platform, and Mobile Apps.
• Deposit and Withdrawal Methods: Bank Wire, Credit/Debit Cards, Skrill, PayRedeem, Fasapay, Neteller, Crypto, and regional payment methods like M-Pesa.

Trading Platforms on HFM

HFM offers a versatile selection of trading platforms to suit different trading styles. Traders can choose from MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the proprietary HFM Platform. These platforms are accessible across desktop, web, and mobile devices.

MetaTrader 4 remains a favourite among traders. It is popular for its user-friendly interface, comprehensive charting tools, and support for automated trading via Expert Advisors (EAs). It comes equipped with numerous built-in technical indicators and analytical tools to aid in market analysis.

MetaTrader 5 is the successor to MT4 and offers enhanced features. MT5 expands on MT4 with more advanced charting capabilities, a wider selection of technical indicators, and enhanced backtesting functionalities.

In addition to the MetaTrader suite, HFM has developed its own HFM Platform. This proprietary web-based platform is designed for ease of use, featuring one-click trading, real-time market data, and a customisable interface. It’s accessible without requiring software downloads.

Trading Instruments Available on HFM

HFM offers a diverse selection of over 500 trading instruments across multiple asset classes, which are all CFDs. This allows traders to build well-diversified portfolios. Here is a breakdown of the market products available on HFM:

• Forex - HFM offers a wide range of over 50 currency pairs, covering major, minor, and exotic pairs, providing traders with diverse opportunities in the forex market.
• Metals - On this broker site, people can trade CFDs on a variety of precious metals, including gold, silver, platinum, and palladium.
• Energies - Investors can access CFDs on spot oil and oil futures, enabling speculation on price movements in global energy markets.
• Indices - HFM provides access to both major and lesser-known indices such as the US30, UK100, and GER30, allowing traders to take positions on broader market trends.
• Stocks - With HFM, traders can explore CFD trading on shares from globally recognised companies like Amazon, Alibaba, and many others.
• Commodities - HFM enables trading on a wide selection of soft and hard commodities, including cocoa, coffee, and copper, supporting both hedging and speculative strategies.
• Bonds - People can broaden their investment exposure with CFDs on government bonds issued by some of the world’s leading economies.
• Cryptocurrencies  - Further, people gain exposure to the cryptocurrency market by trading CFDs on popular assets such as Bitcoin, Ethereum, Ripple, and Litecoin against major fiat currencies.
• ETFs - HFM offers access to CFDs on exchange-traded funds that span various sectors, regions, commodities, and currencies. These are perfect for diversified investment strategies.

A Review of The Spreads on HFM

HFM’s spreads vary depending on the type of trading account selected. The broker offers six distinct account types, each with its own pricing structure designed to suit different trading needs. The Premium account features spreads starting from 1.2 pips, while the Cent account offers slightly tighter spreads from 1.0 pips. In some regions, the broker also provides the Top-Up Bonus account, which has spreads beginning at 1.4 pips.

For tighter spreads, the Pro account offers spreads from 0.5 pips, and the Pro-Plus account from 0.2 pips. These five different accounts do not charge a commission on forex pairs. In contrast, the Zero Spread account provides ultra-tight spreads from 0.0 pips but comes with a commission of $3 per lot per side.

In addition to spreads and commissions, HFM charges swap fees on positions held overnight. These fees vary depending on the asset class and trade size. However, swap-free (Islamic) account options are available across all account types except the Top-Up Bonus account. This allows traders who follow Sharia law to participate in the markets ethically.

HFM Leverage

HFM offers flexible leverage options, with maximum leverage up to 1:2000, depending on the account type and regulatory restrictions. For example, in regions like Nigeria, the maximum leverage available to traders is 1:2000. In contrast, traders in Kenya can only access a maximum leverage of 1:400 due to regulatory restrictions.

Higher leverage is available for forex and commodities, while stocks, indices, and cryptocurrencies have lower leverage caps. However, remember that leverage is a double-edged sword. While it can amplify potential profits, it also amplifies potential losses. As such, Traders should exercise caution with high leverage due to the increased risk of significant losses.

HFM Copy Trading (HFcopy)

HFM offers a powerful copy trading solution through its proprietary platform, HFcopy. This feature enables users to automatically replicate the trades of experienced strategy providers. With HFcopy, traders can browse a curated list of strategy providers, analyse their performance metrics, and seamlessly copy their trades.

To begin copy trading with HFM, users must open a trading account and then create a dedicated HFcopy account. There are three account types available for both followers and strategy providers, which include Copy Cent, Copy Premium, and Copy Pro. Followers can only copy strategy providers with the same account type. For instance, a Copy Cent account holder can only follow a strategy provider with a Copy Cent account.

The Copy Cent account requires a minimum deposit of $10 for followers and $25 for strategy providers. This account offers spreads starting from 1.2 pips with no commission. This account provides access to CFDs on forex and gold only.

The Copy Premium account, on the other hand, requires a minimum deposit of $25 for followers and $100 for strategy providers. It also features spreads from 1.2 pips without commission and includes access to CFDs on forex, spot indices, gold, spot energies, and silver.

Lastly, the Copy Pro account requires a $100 minimum deposit for both followers and strategy providers. It offers tighter spreads starting from 0.6 pips, with no commission. It grants access to a broader range of CFDs, including forex, spot indices, gold, spot energies, and silver.

HFM Demo Account

HFM offers a valuable demo account designed to closely simulate a live trading environment. This tool is indispensable for both aspiring and professional traders. It is an unlimited demo account which does not expire and comes with a starting balance of $100,000 in virtual funds. The demo accounts on HFM are available on MT4 and MT5, two of the most popular trading platforms.

For new traders, this demo account allows them to experience online trading in a risk-free virtual environment. This helps them understand the platform and market dynamics without committing real capital. For experienced traders, it provides a virtual space to test and refine trading strategies under real market conditions before implementing them in live trading.

Remember that Forex and CFDs available at HFM are leveraged products.
Their trading can result in the loss of your entire capital.

HFM Suite of Trading Tools

On top of the different trading platforms offered by HFM, the broker also features a variety of tools that can help enhance the trading experience of a trader. These include VPS Hosting, Autochartist, Advanced Insights, Premium Trader, and Trading Calculators, among others. Let’s take a look at a few of these trading tools.

VPS Hosting

HFM offers a Virtual Private Server (VPS) hosting service, which is a crucial tool to traders, especially the most active investors. This service is offered in collaboration with Beeks Financial Cloud and is designed to deliver 24/7 connectivity, low latency, and stable execution, which is essential for traders who rely on uninterrupted access to the markets. As such, this VPS ensures the continuous operation of trading platforms with minimal downtime, irrespective of personal computer status or internet connectivity.

There are three different plans for this VPS service, which include the Bronze, the Silver, and the Gold plans. The Bronze plan costs $25 a month and features 1 virtual CPU, 2,560 MBs of RAM, and 30 GB of SSD Storage. However, traders can get this plan for free if they have a minimum net deposit of $400 within the last 30 days and have at least 2 standard lots traded within the past calendar month.

In contrast, the Silver plan costs $50 a month and features 2 virtual CPUs, 4,096 MBs of RAM, and 50 GB of SSD Storage. Traders can get this plan for free if they have a net deposit of $8,000 within the last 30 days and at least 8 standard lots traded within the past calendar month.

Finally, the Gold plan costs $80 a month and comes with 4 virtual CPUs, 6,656 MBs of RAM, and 75 GB of SSD Storage. To get this plan for free, a trader must have a minimum net deposit of $15,000 in the past 30 days and at least 15 standard lots traded within the past calendar month.

While a VPS service is not strictly necessary for all traders, it can greatly enhance a trader's experience with features like 24/7 trading, reduced latency, and enhanced security, among other features.

Autochartist

HFM offers Autochartist as a free tool for its clients, integrated into both MetaTrader 4 and 5 platforms. This tool automatically scans markets for chart patterns, Fibonacci levels, and key price levels in real time. When it identifies trading opportunities, it delivers instant alerts via email, SMS, or platform notifications. As such, it helps traders take advantage of high-probability trading opportunities without manual chart analysis. 

Better yet, this tool is fully customisable for timeframes, instruments to monitor, and desired pattern quality, ensuring efficiency for traders. However, please note that this tool is best used alongside personal analysis for optimal results.

Premium Trader Tools

HFM provides Premium Trader Tools, which is a professional-grade suite of plugins designed to enhance trading on MT4 and MT5 platforms. This package includes advanced trading utilities, sentiment indicators, and decision-support tools, tailored for both aspiring and experienced traders. 

The Trade Terminal allows traders to manage multiple orders, bulk trade, and set complex orders from a single interface. In contrast, the Mini Terminal is an extension of the Trade Terminal, which displays the same deal ticket as the Trade Terminal in the context of a specific trading chart. Further, the Sentiment Trader allows investors to see real-time market sentiment for selected instruments.

There are several other tools, all of which offer institutional-grade features for market analysis, trade management, and automation. They are particularly beneficial for those who seek enhanced control, advanced analysis capabilities, and automation in their trading.

HFM Customer Support

HFM places a strong emphasis on providing excellent customer support. The broker offers assistance through various channels and in over 27 different languages, catering to its global clientele. This shows the broker’s understanding of the crucial role customer support plays in the trading experience.

Customers can reach HFM's support team via Live Chat, which is available 24/7. Known for quick response times, this feature offers immediate assistance for urgent queries. For more detailed inquiries or less urgent matters, traders can reach the team via their official email. Finally, phone support is available in certain regions for direct communication. The global support number is +44-203 0978571. However, there are local numbers in some regions.

Further, HFM maintains an active social media presence on platforms like Twitter, Instagram, and Facebook. On these platforms, traders can receive updates and contact support.

The Credibility of HFM

It is very important to assess the credibility of a broker when determining whether they are a fit for your trading needs. To assess the credibility of a broker, traders should prioritise their regulatory status and their overall reputation. Positively, HFM operates under the supervision of multiple reputable regulatory authorities globally. 

These include the DFSA in Dubai, the FSCA in South Africa, the CMA in Kenya, the FCA in the UK, and the CySEC in Cyprus, among others. However, please note that HFM does not accept retail traders from the UK and the EEA region despite having regulations there.

On another note, this broker has great reviews from users. On Trustpilot, this broker has a rating of 4.6 stars out of 5 after over 2,000 different reviews. Further, HFM has received over 60 different industry awards for its services, including recognition for best trading conditions, best customer service, and best trading app. 

Final Verdict

HFM stands out as a highly reputable and well-rounded online broker, offering a comprehensive and user-friendly trading experience. Its diverse range of trading instruments, competitive trading conditions across various account types, and robust regulatory oversight make it an attractive choice for traders of all levels.

Further, the availability of industry-leading trading platforms ensures flexibility and advanced functionalities. Innovative features like the HFcopy social trading program and free VPS hosting further enhance its appeal.

Nonetheless, while HFM offers a compelling package, it is always recommended for individual traders to conduct their own research. Always ensure that the broker's offerings align with their specific trading goals, risk tolerance, and preferences.

Remember that Forex and CFDs available at HFM are leveraged products.
Their trading can result in the loss of your entire capital.