Introduction

HFM, formerly known as HotForex, is a globally recognized multi-asset broker offering a wide range of financial instruments for trading. Since its inception in 2010, HFM has established itself as a reliable and award-winning broker, regulated by multiple top-tier authorities. It caters to both retail and institutional clients worldwide, providing access to Forex, commodities, indices, stocks, cryptocurrencies, and more through industry-standard trading platforms.

Key Features

• Extensive Asset Portfolio: HFM offers a diverse selection of over 1200 tradable instruments, including more than 50 Forex pairs, various commodities (metals, energies), global indices, CFDs on stocks, cryptocurrencies, bonds, and ETFs.
• Multiple Trading Platforms: Traders can access markets via MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for desktop, web, and mobile, providing a robust and familiar trading environment. The proprietary HFM App also offers enhanced mobile trading capabilities.
• Variety of Account Types: HFM provides several account options to suit different trading styles and experience levels, including Cent, Premium, Zero Spread, Pro, and Islamic (Swap-Free) accounts. These accounts vary in minimum deposit, spreads, commissions, and leverage.
• Strong Regulatory Framework: HFM is regulated by multiple reputable financial authorities globally, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and offshore entities like the FSC of Mauritius and the FSA of Seychelles, ensuring high standards of client protection and operational transparency.
• Educational and Research Tools: The broker offers a rich suite of educational resources such as webinars, video tutorials, e-courses, and articles. Comprehensive market analysis, daily news, an economic calendar, and trading calculators are also available to support informed trading decisions.
• Responsive Customer Support: HFM provides multi-lingual customer support 24/5 via live chat, phone, and email, ensuring traders can get assistance whenever needed.
• Flexible Deposit and Withdrawal Methods: A broad range of popular and convenient payment methods are supported for deposits and withdrawals, including bank wire transfers, credit/debit cards, and various e-wallets.

Pros

• Highly regulated by multiple reputable authorities, providing a secure trading environment.
• Extremely wide range of tradable instruments across various asset classes.
• Diverse selection of account types to accommodate different trading preferences and capital sizes.
• Offers industry-leading MT4 and MT5 platforms, along with a user-friendly mobile app.
• Competitive spreads and low commissions, especially on the Zero Spread and Pro accounts.
• Excellent educational resources and comprehensive market analysis tools.
• 24/5 multi-lingual customer support.
• Fast and efficient deposit and withdrawal processes.
• Offers additional services like copy trading and PAMM accounts.

Cons

• Spreads on some standard accounts (e.g., Premium) might be slightly higher compared to some ultra-low-cost brokers.
• The sheer number of account types might be overwhelming for absolute beginners.
• No proprietary web-based trading platform outside of the MetaTrader offerings.
• Certain products or services may not be available in all regions due to regulatory restrictions.
• Inactivity fees may apply after a prolonged period of dormant account activity.

Pricing

HFM’s pricing structure is competitive and varies significantly across its different account types:

• Spreads:
  • Zero Spread Account: Spreads start from 0 pips on major Forex pairs.
  • Premium Account: Typical spreads for EUR/USD average around 1.2 pips.
  • Pro Account: Spreads start from 0.1 pips.
• Commissions:
  • Zero Spread Account: Charges a commission per lot traded (e.g., $6 per round turn for Forex majors).
  • Premium, Cent, and Pro Accounts: Generally commission-free for Forex and metals.
• Swap Fees: Standard overnight swap charges apply for positions held open overnight, unless a Swap-Free (Islamic) account is used.
• Minimum Deposit:
  • Cent Account: $5
  • Premium Account: $100
  • Zero Spread Account: $200
  • Pro Account: $100
• Inactivity Fees: An inactivity fee may be charged for accounts that remain dormant for a specified period (e.g., 6 months of no trading activity).
• Deposit/Withdrawal Fees: HFM typically offers free deposits. Withdrawal fees may apply depending on the method used, though many popular e-wallet and credit/debit card withdrawals are also free. Bank wire transfers might incur fees from correspondent banks.