HF Markets (HFM)

As someone who has been trading forex for a while, I’ve tried out different brokers and platforms. Recently, I decided to give HotForex, now known as HFM, a try to see how it compares to other brokers. In this HFM review, I’ll share my own experience with the platform, go over its key features, and talk about what makes it stand out.

HFM Overview

What is HFM?

HFM (formerly HotForex) is a forex and commodities broker that’s been around since 2010. Over the years, it has built a good reputation among traders for being reliable and offering a lot of different trading options. You can trade not only forex but also commodities, indices, shares, bonds, and even cryptocurrencies

HFM Forex Trading Conditions

The trading conditions at HFM are another plus. The broker offers flexible leverage, going up to 1:1000 depending on your account type and location. But be careful—high leverage can mean bigger profits, but it also means bigger losses. If you’re just starting out, it’s probably best to stick with lower leverage until you get more comfortable with trading.

One feature I really liked is the negative balance protection. This means you won’t lose more money than you’ve put in, which is super important in the unpredictable world of forex trading.

HFM also offers popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). I mostly used MT4 during my time with HFM, and it worked smoothly. The platform is easy to customize, and it comes with a bunch of tools for analyzing the markets. Whether you’re into short-term or long-term trading, MT4 on HFM has what you need.

HFM Account Types and Minimum Deposits

HFM offers several account types to suit different traders. Here’s a quick rundown:

• Micro Account: This is great for beginners, with a minimum deposit of just $5.
• Premium Account: A step up, with a minimum deposit of $100. This is the account I chose, and it offers better spreads and more trading options.
• Zero Spread Account: Ideal for traders who make a lot of trades, with a minimum deposit of $200.
• Auto Account: Designed for copy trading, with a minimum deposit of $200.
• PAMM Account: Allows you to invest in trades made by more experienced traders, with a minimum deposit of $250.
• Demo Account: Allows beginners & experts alike to test their knowledge and try out trading without any risk, which is something very important.

I liked the variety of accounts because it means there’s something for everyone, whether you’re new to forex or have been trading for a while, especially the demo account availability.

Funding and Withdrawals

Putting money into your HFM account is easy, with several options like credit/debit cards, bank transfers, and e-wallets. I used my credit card, and the money showed up in my account right away without any fees.

When it came time to withdraw money, the process was smooth too. But there are some fees depending on how you choose to withdraw. For example, ACH withdrawals have a $15 fee, which might be a downside for some traders. However, if you withdraw using a credit card or wire transfer, it’s free. The minimum withdrawal amount is $5, which is pretty reasonable.

HFM App: A Closer Look

The HFM app is a great tool for trading on the go. It’s available on iOS and Android, and it’s really easy to use. You can do pretty much everything on the app that you can do on the desktop platform, like placing trades, managing your account, and even doing some analysis.

The app also has real-time price alerts, which I found really helpful for keeping up with the market. Whether you’re commuting, traveling, or just away from your desk, the HFM app keeps you connected to your trades.

Why HFM Rebranded from HotForex

HFM rebranded from HotForex in 2022 to give itself a fresh, modern look. The main services and features are still the same, but the new name is part of HFM’s effort to stay relevant and competitive in a fast-changing market.

From what I can tell, the rebrand also helps HFM stand out more clearly in the crowded forex market. By adopting the HFM name, the broker is signaling that it’s evolving and ready to meet the needs of today’s traders.

Regulations and Security

One reason I felt comfortable trading with HFM is because they’re regulated by some of the most respected financial authorities. These include:

• Financial Conduct Authority (FCA) in the UK
• Cyprus Securities and Exchange Commission (CySEC) in the EU
• Financial Sector Conduct Authority (FSCA) in South Africa

The rest of the listed Regulations are regulating their respective territories.

These regulators make sure that HFM follows strict rules, which helps keep your money safe and ensures fair trading practices. HFM also keeps your money in separate accounts, so it’s not mixed with the broker’s own funds, adding another layer of security.

Unique Features

HFM has some standout features that make it different from other brokers:

• Educational Resources: HFM offers a lot of learning materials, including webinars, tutorials, and market analysis. These are really helpful whether you’re just starting out or looking to improve your trading skills.
• Automated Trading: HFM supports automated trading on the MT4 and MT5 platforms, which is great if you prefer to let a system handle your trades.
• Copy Trading: With the Auto Account, you can copy the trades of more experienced traders. This is perfect if you’re new to forex or don’t have time to manage your trades.

Trading Platforms

HF Markets offers trading on the world’s most popular platform, MetaTrader 4 (MT4), allowing traders to access Contracts for Difference (CFD) trading on more than 250 financial instruments. MT4’s user-friendly interface, ultra-fast execution, and advanced trading features make it suitable for both beginners and experienced traders.

With a wide array of analytical tools, automated trading capabilities, and cross-platform compatibility (Windows, Mac, Linux, and mobile), MT4 offers flexibility and convenience. Traders can enhance their experience with over 50 indicators, multiple timeframes, and seamless integration of Expert Advisors (EAs) for automated trading.

Partnership Options

The HFM Affiliate Program offers an excellent opportunity for individuals to earn substantial commissions by promoting HF Markets. Affiliates can earn up to $30 per lot traded by their referred clients, with unlimited earning potential.

The program also provides additional benefits, such as daily payouts, the ability to refer new affiliates and earn a share of their commissions, and RevShare+ rewards, offering up to $5,000 in extra bonuses.

With a three-tier affiliate system, affiliates can earn commissions not only from their direct referrals but also from sub-affiliates, increasing their revenue potential. The program also ensures top-tier trading conditions for clients, including 1:2000 leverage and fast deposits and withdrawals, helping affiliates attract more traders.