HF Markets Review
For Australian Traders
HFM customer support is great but their platforms/trading apps can hang suddenly and refuse to load
I like that they have an account type for every type of trader. They carry everyone along but they need to integrate TradingView just like Tickmill has done recently
Great for beginners and the hfm mobile app simplifies trading allowing you to customize your order entry
I’ve been using HFM for a while now, and honestly, it’s been pretty good. I mainly use it on desktop and it's very straightforward for a beginner. Opening an account was quick and easy too, and once you’re signed up, they assign you an account manager. Mine reached out on WhatsApp and email, and they even call sometimes. They’re really hands-on, which is nice if you ever need help.
The only accounts worth using are the pro and pro plus accounts, but their starting deposit is too high
i started trading with hfm this year and so far i like their beginner education efforts. it has helped me understand trading better.I use their cent account but i do not like the fact that i can only trade certain asset classes on the cent account.
HFM has good trading tools and beginner education but it is difficult to set up their trading platforms to work properly. even the mobile app delays before it opens which is not good. They need to improve on their systems.
dosen't quite work well with MT5 and should be adjusted.
MT5 keeps refusing to display charts and whenever there is a news release it is hard to access their platforms.
Best customer support and I like that they assign personal account managers to everyone; something other brokers reserve for VIP clients only
I enjoy using the Autochartist and I like that the zero spread account has just a 5 USD minimum deposit.
I traded with HFM for about 5 months after which i had to abandon them and move on to a better broker and here are my reasons: Their spread was just too high, secondly their currency conversion fees were too high, thirdly their platforms are unstable.
HFM organizes forex trading education events across Nigeria and I have attended some of them in Port Harcourt. I had the chance to interact with the Country Manager of HFM and some HFM staff. It boosted my confidence so keep it up HFM I'm liking this.
Most times this broker will say no ZAR account available and they force you to open USD account so they can charge currency conversion fees. They also need to be more transparent with how much they charge for currency conversion fees because its high.
An excellent forex broker but they need to integrate TradingView package and cTrader. I like that they are FCA UK regulated and provide the Autochartist package
HFM platforms lack sophistication & are good for starters. However, their pricing is very transparent (what you see is what you get) Their customer service is also good with instant withdrawals
HFM is a well licensed CFD brokers, licensed with FSCA, FCA. They accept clients in multiple regions. Check their regulatory status in your region.
| 📷 Name of broker | HF Markets(Hotforex) | ⚖ Regulation | FCA UK, FSCA South Africa, CMA Kenya, DFSA Dubai, FSA Seychelles | 💰 Minimum deposit | 8 AUD |
| 🚀Leverage | 1:2000 | 💸 EUR/USD average spread | 1.6 pips | 💳 Minimum withdrawal | 8 AUD | 💱 Account currency | USD, EUR | 🏖️Inactivity fee | 8 AUD |
| ✅Reason To Trade | Good customer support, Range of instruments, HFM Wallet |
| ❌Reason To Avoid | Slightly high spreads |
Is HFM Regulated By The ASIC?
No, HFM is not regulated by the ASIC. Their activities in Australia are regulated overseas.
HFM also operates outside Australia where its activities are supervised by the following regulatory bodies:
- Financial Conduct Authority (FCA) United Kingdom
- Financial Sector Conduct Authority (FSCA) rSouth Africa.
- Financial Services Authority (FSA) Seychelles
- Dubai Financial Services Authority (DFSA)
- Capital Markets Authority (CMA) Kenya.
What Leverage Does HFM Offer?
HFM also allows you trade with leverage(borrowed funds) up to 1:2000 so we have listed the leverage for each asset class. See full list of HFM instruments below:
- 50+ major, minor, and exotic currency pairs with leverage up to 1:2000.
- 7 Metals with leverage up to 1:2000
- 2 Energies (UK OIL & US OIL) with up to 1:200 leverage
- 5 Agricultural commodities with 1:66 – floating leverage
- 12 major Indices (spot & futures) with up to 1:500 leverage
- 93 Stock CFDs with up to 1:25 leverage
- 3 Bond CFDs (EUR, UK, & US) with up to 1:50 leverage
- 24 ETFs with up to 1:5 leverage
You can trade NASDAQ indices on HFM as US Tech 100 (USA100) at a spread as low as 1.2 and a leverage up to 1:500.
| Pros | Cons |
| No need to own the underlying assets | You must trade with leverage |
| Lots of asset classes to aid diversification | Energies are limited to Oil only there’s no Natural Gas |
| Automated strategies can be used to trade these instruments | |
| copy trading allowed for these instruments | |
| Live price feeds for the underlying instruments |
What Are HFM Account Types?
HFM Demo Account
The Demo account is designed to help you learn all about trading and get the basics before moving to the real trading market.
Cent Account
The Cent account allows you to trade with cent lots. This account is good if you’re a beginner transitioning from the demo account who wants to invest little funds, test the real trading market, and improve your skills.
This can also be useful to experienced traders who want to test a new instrument or strategy.
Zero Spread Account
The Zero Spread Account charges zero spread on popular instruments but in return you pay commissions on every trade, so this account is suitable for professional traders who know how to use zero spread to their advantage.
Pro Account
HFM Pro Account is a beginner account that has a lower spread but also has a higher minimum deposit.
Pro Plus Account
The HFM Pro Plus Account is also for beginners and has an even lower spread, but this comes with a higher minimum deposit requirement.
Premium Account
The Premium Account is a beginner account with a low minimum deposit but higher spread.
Top-up Bonus Account
The HFM Top-Up Bonus Account is to be opened when you want to get a bonus on your deposits. The bonus is paid into the Top-Up account and not your regular account.
PAMM Account
This comprises the Premium and Premium Plus accounts. In the PAMM, you can be a Fund Manager, maximize your portfolio, and manage the funds of investors to bring money for you and your investors.
You can also be an Investor and diversify your portfolio by allowing others to trade with your funds.
| Pros | Cons |
| ✅A Cent Account for small-sized trading | ❌No AUD base currency |
| ✅Demo Account for demonstration & trading practice | |
| ✅You can use your regular trading account for copy trading | |
How Do I Open a HFM Account?
- Create a HFM wallet by registering with your email. Remember to choose your desired account currency when creating the wallet.
- After your wallet is created, logon to your Personal Area or HFM mobile app & click on "open live account".
- Choose your desired account type. Remember that the Premium & Zero Accounts have the lowest minimum deposits of $5
- Select your desired leverage.
- Upload your Australian government ID.
How Much is HFM Minimum Deposit?
The HFM minimum deposit is 8 AUD but some HFM account types that have lower spread require a higher minimum deposit.
How Do I Make A Deposit?
These are the globally accepted HFM deposit methods:
Local Bank Transfer: this is the quickest way to deposit money into HFM. Online bank transfers are instant and free of charge.
Credit/debit cards: Visa and MasterCard are widely accepted. Deposits made with this method usually take around 10 minutes to appear in your HFM wallet.
E-Wallets & Mobile Money: options like Skrill, Neteller, PayRedeem, Fasapay, Perfect Money, & MPesa are supported. Deposits made with this method usually take around 10 minutes to appear in your trading account.
Crypto: you can make deposits through Bitpay and other crypto methods, this takes up to 10 minutes.
How Much is the HFM Welcome Bonus?
HFM gives a 20% Top up Bonus to both new & old clients and this applies to every deposit into the account.
How Much is HFM Minimum Withdrawal?
HFM has a minimum withdrawal limit of 5. You can withdraw funds from your myHF wallet using the same method you used to fund it.
Does HFM Have High Spread?
HFM spreads are slightly higher than industry averages, but they are more stable & transparent. HFM does not widen spreads unnecessarily after you have opened a trade. This lets you to be able to plan ahead & set your stop loss effectively.
Spreads
The Cent Account on HFM has a spread from 1.2 pip
The Zero Account has a spread starting from 0.0 pips
The Pro Account has a spread starting from 0.6 pips
The Pro Plus Account has a spread starting from 0.2 pips
The Premium Account has a spread starting from 1.2 pips
The Top-Up Bonus account has a spread starting from 1.4 pips
Commission
HFM does not have commission-free accounts. All HFM accounts charge commissions on specific instruments & allow you to trade some instruments without paying commissions.
So, what HFM instruments require commission payment?
- Forex: (A Commission is $3 per side is charged only when using the Zero Account).
- Stocks: (A 0.1% commission charge on all account types)
- ETFs: (A $0.1 commission per share per round turn is charged on all account types)
Swaps
HFM offers swap-free conditions on all its accounts except the bonus account. The following trading instruments have zero swaps:
AUD/NZD, AUD/USD, EUR/CHF, EUR/USD, GBP/JPY, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USOIL, AUD/CHF, AUDJ/PY, EUR/AUD, EUR/CAD, EUR/GBP, EUR/JPY, EUR/NZD, GBP/CHF, GBP/NZD, NZD/JPY, NZD/CAD, XAU/USD, and UKOIL.
Inactivity Fee
HFM charges a $5 monthly fee after 90 days of inactivity and after 1 year of inactivity, the charge increases to $10 monthly.
How Does HFM Position Size Calculator Tool Work?
The HFM position size calculator helps you to:
- Calculate volume: You tell the calculator how much you want to trade with (by inputting the amount in the margin dialogue box), & in return it tells you the volume or lot size to open.
- Calculate margin: You enter the volume or lot size you want to trade, & the calculator tells you the required margin or money to put down.
What Trading Platforms Does HFM Markets Offer?
HFM Mobile App
HFM has a mobile app for android and apple operating systems. The app has basic features such as 3 technical indicators, 2 chart types, push notification, news etc. However, charts on the app lack line drawing tools.
HFM MT4 & MT5
HFM has MT4 & MT5 platforms & download is possible from the HFM website.
HFM offers MetaTrader support tools through its free downloadable Premium Trader Toolkit which adds features such as live sentiment, session map, alarm manager, market manager, excel RTD, etc. to your MT4/5.
How is HFM Customer Support?
HFM offers a 24/5 customer support. You can reach out to get support through:
- Live Chat: You can get an instant response on the HFM live chat during working hours.
- Phone Support: When you reach out through a phone call, you will get an instant response.
- Email: It takes up to 30 minutes to get an email response
| Pros | Cons |
| Local UK telephone help line | Help line is not toll-free |
| Live chat has short hold time | |
| Personal account manager |
Does HFM offer Educational Material?
HFM offers educational materials and resources like online trading courses, educational videos, news, and analysis suitable for beginners and all traders. HFM has a YouTube channel where videos can be seen.
What is Forex Trading?
Forex trading is the art of predicting whether exchange rates are going to go up or down, using an online platform which you access via your mobile device or laptop computer.
There are always two outcomes in forex trading which are you can predict correctly or wrongly. Each outcome has financial implications for you the trader.
If you predict the exchange rate direction correctly, you make a profit based on the amount you staked at the beginning.
On the flip side if you predict wrongly, you lose the money which you staked at the start of the trade.
Is Forex Trading Gambling?
The process of predicting where the exchange rates will go is easier said than done. If you predict without any research done, then you are simply gambling.
However, if you arrive at your prediction based on research into past price movement (technical analysis), or research into the strength of the economies behind the exchange rate (fundamental analysis); then forex trading is not gambling.
How To Choose The Best Forex Trading Platform in Australia
1. Check The Platform Speed & Stability
Before choosing to trade using any platform, download it & check the speed by using a demo account.
When opening the trading platform it should respond quickly & not begin to search for updates.
Speed is important because you may need to open the platform to take advantage of a passing trade opportunity. Any delays in initializing or loading the platform can mean you mean you miss the trade opportunity.
Also use a demo account to check the platform stability & ensure there's no freezing during trades.
Also check that when viewing charts, you can switch between different timeframes without delays in loading the charts.
Generally, a demo account will help you test for speed & stability of any trading platform be it MetaTrader, cTrader or a proprietary mobile app.
2. Ensure One-Click Trading is Activated
Your trading platform should have one-click trading activated by default so you can place trades quickly & take advantage of sudden price surges.
When volatility is high, prices can surge ahead really quickly & also fall quickly within seconds.
One-click trading allows you enter the market quickly before the opportunity disappears.
3. Ability To Set & Adjust Stop Loss From Charts
Your trading platform should allow you set a stop loss from the charts by dragging the buy/sell line downwards as opposed to inputting the stop loss parameters manually.
Setting a stop loss manually from outside the charts can be time consuming and cause you to miss opportunities in fast moving markets.
During news & data releases (such as NFP & CPI release) markets react very wildly and prices surge & drop suddenly. Setting a stop loss from the charts will help you manage risk of high losses.
4. Ability To Set Trailing Stop Loss
Your trading platform should be able to let you set a trailing stop loss so that the platform automatically adjusts your stop loss as price moves in your favor.
The advantage of a trailing stop loss is that it helps you secure profits in a fast moving market
5. Ability To Set & Adjust Take Profit From Charts
Setting your take profit from the charts by dragging the buy/sell line up or down can help you catch profits fast before they disappear.
If you were to set the take profit manually, the price could reverse before you are done.
During news & data releases setting your take profit quickly can help you catch & secure profits that appear & disappear quickly.
6. Platform Should have Line Drawing Tools
Line drawing tools include the Horizontal Line Tool & Trend Line Tool. These line drawing tools are very important for use in technical analysis & price action trading.