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HF Markets Review - Award-winning broker with multiple regulators

Overall Rating

Our HF Market Review - Updated for 2020

Our HF Markets review starts with some of the history of this award-winning forex broker.

HF Markets, previously known as HotForex, was founded in 2010 in Kingston St. Vincent and the Grenadines. Currently, the broker is headquartered in Cyprus. HF Markets is an award-winning broker that focuses on commodity and forex trading. They offer their services to both retail and institutional clients. The broker has a strong reputation in the industry for its transparency, great service, and reliability.

HF Markets CySEC License

HF Markets Group is the mother company for its various international subsidiaries. The broker is regulated by different bodies based on the jurisdictions it offers its services in:

  • HF Markets (Europe) Ltd - regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • HF Markets (DIFC) Ltd - authorized and regulated by the Dubai Financial Services Authority (DFSA).
  • HF Markets (UK) Ltd - authorized and regulated by the Financial Conduct Authority (FCA).
  • HF Markets (Mauritius) Ltd - regulated by the Financial Services Commission (FSC) of the Republic of Mauritius.
  • HF Markets SA (PTY) Ltd - authorized by the Financial Sector Conduct Authority (FSCA) in South Africa.
  • HF Markets (Seychelles) Ltd is regulated by the Seychelles Financial Services Authority (FSA).

HF Markets is also registered in other jurisdictions like France, Italy, Spain, etc. Heavy regulation implies that the broker must follow strict protocols imposed by its authorizers, such as keeps funds in segregated accounts, limit leverage, offer client compensation, and more.

PROS

Well-regulated and licensed by multiple regulators like CySEC, FSCA, FSA, DFSA, FCA.

Efficient and helpful, 24/5, multi-lingual support.

Flexible trading conditions on a variety of platforms (MT4,MT5).

Impressive research portal with in-house expert financial analysts.

CONS

Not a lot of educational materials available.

Our Rating

  • Platforms

    0%
  • Tradable Assets

    0%
  • Spreads

    0%
  • Trader Education

    0%
  • Customer Service

    0%

HF Markets Trading Accounts

Our HF Markets reviews will go into detail regarding this broker's accounts as HF Markets attempts to offer the best trading conditions to its customers. The broker offers five different accounts to its traders that suit the requirements of different traders. Opening an account with HF Markets – you will need to register and then verify your identity by providing proof of identity and proof of address.

HF Markets Trading Accounts

Micro Accounts

Micro Accounts accommodate newer traders who are looking to trade with smaller volumes. The initial deposit is lower, and traders can opt to trade in smaller lots.

The minimum opening deposit is $50, and you can open an account in EUR or USD. Spreads are variable and start from 1 pip; the leverage varies based on the financial instrument. The account is available on the MT4, which includes mobile trading and Web Trader. The minimum trade size is 0.01 lots, while the maximum trade size is seven standard lots per position. Simultaneously you can have 150 orders open. The margin call is 80% while the stop out level is 50%. HF Markets does not charge commission on trades, but instead levies its fee into the spread.

A Personal Account Manager is offered with this type of account. A swap-free version (Islamic account) of this account is available for those who follow Sharia law.

Premium Account

Premium Accounts are intended for more experienced traders who are looking to trade larger volumes. The initial deposit is lower, and traders can opt to trade in smaller lots.

The minimum opening deposit is $100, and you can open an account in EUR or USD. Spreads are variable and start from 1 pip; the leverage varies based on the financial instrument. The account is available on the MT4, which includes mobile trading and Web Trader. The minimum trade size is 0.01 lots, while the maximum trade size is 60 standard lots per position. Simultaneously you can have 300 orders open. The margin call is 80%, while the stop out level is 50%. With this account, the commission is not charged on trades, but instead levies its fee into the spread.

A Personal Account Manager is offered with this type of account. A swap-free version (Islamic account) of this account is not available.

Zero Spread Account

Zero Spread Accounts live up to their name – they offer very tight, raw spreads with 0 mark-ups. Zero Spread accounts are considered to be a low-cost trading solution and are particularly advantageous to traders with use EAs (Expert Advisors), scalpers, and traders who have high-volume trades.

The minimum opening deposit is $200, and you can open an account in EUR or USD. Spreads are variable and start from 0 pips on forex; the leverage varies based on the financial instrument. The account is available on the MT4, which includes mobile trading and Web Trader. The minimum trade size is 0.01 lots, while the maximum trade size is 60 standard lots per position. Simultaneously you can have 500 orders open. The margin call is 80%, while the stop out level is 50%. Commission is charged on trades, but instead levies its fee into the spread.

A Personal Account Manager is offered with this type of account. A swap-free version (Islamic account) of this account is available for those who follow Sharia law.

HF Copy Account

HF Copy Accounts are designed specifically for copy trading. Traders can sign up as Strategy Providers (SPs) or Followers. SPs are experienced traders who others can copy in exchange for a performance fee, which can be as high as 35%. An SP can have between 100 – 400 followers. Followers can select their SPs and start copying their trades.

The minimum opening deposit is €1000 for Strategy Providers, €300 for Followers. You can open an account in EUR or USD. Spreads are variable and start from 1 pip; the leverage varies based on the financial instrument.

The account is available on the MT4, which includes mobile trading and Web Trader. The minimum trade size is 0.01 lots, while the maximum trade size is 60 standard lots per position.

Simultaneously you can have 300 orders open. The margin call is 80%, while the stop out level is 50%. With this account, commission is not charged on trades, but instead levies its fee into the spread.

A Personal Account Manager is offered with this type of account. A swap-free version (Islamic account) of this account is available for those who follow Sharia law.

Premium Pro Account

Premium Pro Accounts are created to cater to the needs of Professional Clients or Experienced Retail Clients. This means that traders who must have certain knowledge and expertise to qualify for this account type.

Professional Clients

A professional client is a seasoned, skillful trader with the right knowledge to manage risk. Professional traders are not bound to the restrictions enforced by ESMA (European Securities and Markets Authority), but to nor are they granted the same protective measures as normal traders – Professional clients are no eligible to the Investor Compensation Fund. To become a professional client, you must fill certain criteria, such as have significant trading experience (40 trades of substantial size), a large investment portfolio that consists of a mix of financial instruments and cash deposits that exceed 500,000 EUR, and you need professional experience working in the financial sector for at least a year. The best benefit of becoming a professional client is maximum leverage up to 400:1 depending on the instrument.

Experienced Retail Clients

This category is exclusively for clients who reside in Poland, where certain restrictions were adopted by the Komisja Nadzoru Finansowego of Poland (KNF). Just as in the case of Professional Clients, ERCs must fulfill certain criteria, such as:

  • Their country of residence must be Poland
  • They must have been active in the recent 24 months with either ten transactions in CFD worth over 50,000 EUR each, or 50 transactions in CFDs worth over 10,000 EUR each, or 40 transactions in CFDs worth over 2 million euros in all.
  • Proved professional experience; it can be either in the form of professional certifications, 50 hours of training on CFDs in the last 12 months or work experience in the financial sector.

Clients who do qualify as ERCs will have the leverage 1:100 on all currency pairs and gold.

The minimum opening deposit from the Premium Pro Account is $500, and you can open an account in EUR, USD, or PLN for ERCs. Spreads are variable and start from 1 pip; the leverage varies based on the financial instrument, for Professional Clients in up to 1:400, and for ERCs, it's up to 1:100. The account is available on the MT4, which includes mobile trading and Web Trader. The minimum trade size is 0.01 lots, while the maximum trade size is 60 standard lots per position. Simultaneously you can have 300 orders open. The margin call is 80%, while the stop out level is 50%. Commission is charged on trades, but instead levies its fee into the spread.

A Personal Account Manager is offered with this type of account. A swap-free version (Islamic account) of this account is available for those who follow Sharia law.

Trading Conditions and Client Fund Protection

HF Markets offers excellent trading conditions that suit traders with different needs. Mostly the broker offers commission-free trading with tight spreads that start from as low as 0.1 pips for the EUR/USD pair. The broker integrates their fee into the spread. There is also a zero spread account available, which does charge commission but offers zero to extremely low spreads. Scalping and hedging is allowed on all accounts. HF Markets offers ECN/STP execution and one-click trading.

The broker offers a variety of deposit and withdrawal methods which are all very fast:

Wire transfer: The minimum deposit is unlimited, while the maximum deposit is $250. There are no deposit fees, but HF Markets does not cover any fees that your bank might charge. For withdrawals, the minimum withdrawal is $150 and can take between 2-10 days. Fees depend on the bank

Credit/Debit cards: You can use Visa, Visa Electron, Mastercard, or Maestro to deposit or withdraw funds. The maximum deposit is $15000, while the minimum deposit is $50. Processing time is up to ten minutes, and there are no deposit fees. For withdrawals, the minimum amount you can withdraw is as low as $5 and takes between 2-10 days. There are no withdrawal or deposit fees

Online payment options: E-wallets like Netteller and Skrill are available for both withdrawals and deposits. The minimum deposit is $50, and the maximum is $10,000. Minimum withdrawal is $5.

HF Markets values the security of their client's funds. The broker is regulated by CySec, DFSA, FCA and others. They offer the below measures to keep clients' funds safe:

Fund segregation – client funds are kept separate from company funds. So should the broker go bankrupt, client funds cannot be used to repay creditors.

Investor compensation – HF Markets is a member of the Investor Compensation Fund. This means that traders may apply for compensation of up to 20,000 EUR.

Negative Balance protection – FX markets are known to be highly volatile. Negative balance protects your account from going below zero. Even if margin calls and stop outs fail, you will still not be obligated to pay back the negative balance.

HF Markets also offers separate insurance to its client of up to 5 million euros in case of errors, omissions, fraud, negligence, etc.

HF Trading Instruments and Platforms

HF Markets offer CFDs on various financial instruments across seven asset classes, such as:

  • Cryptocurrencies: Cryptocurrencies have become the most common investment opportunities for traders, with Bitcoin gaining the reputation of being' liquid gold'. HF Markets offers Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) for trading against the USD. Unfortunately, the broker does not offer newer cryptocurrencies like DASH, IOTA, etc.
  • Forex: Plenty of currency pairs are available for forex trading. The FX market is the most lucrative market in the world that works on a 24/5 basis. HF Markets offers very tight spreads on forex, as low as 0 pips. There are major, minor, and exotic pairs available.
  • Spot Metals and Energies: Hard commodities are often dubbed as safe-haven assets. HF Markets offers Gold, Silver, US Crude Oil, and UK Brent Oil, which are traded against the EURO and the USD. HF Markets also offers Futures contracts on US Crude Oil and UK Brent Oil.
  • Indices: Indices as statistical measures of change in a particular segment of the financial market. Traders invest in a basket of shares - popular indices usually combine shares of large, lucrative public companies. HF Markets offers indices like the US Wall Street 30, US Tech 100, Australian 200, UK 100, and more.
  • Shares: HF Markets also offers stocks of leading blue-chip organizations such as Facebook, Apple, Google, Coco-Cola, and more. The broker offers shares from over 50 companies.
  • Commodities: Along with energies and metals, HF Markets also offers other commodities, both hard and soft, such as Palladium, Platinum, Cocoa, Coffee, Copper, Cotton, and Sugar.
  • Bonds: Bonds represent "fixed income instruments that represent a loan made by an investor to a borrower (typically corporate or governmental)." HF Markets offers Euro Bund, UK Gilt, and US 10-year Treasury Note.

HF Markets offers MetaTrader 4 (MT4) to its traders. The MT4 is many traders preferred platform that was developed by the fintech company MetaQuotes. HF Markets do not have a proprietary platform. The MT4 is highly customizable and offers plenty of tools it traders, such as analytical tools, technical indicators, and charting tools. The platform is available as downloadable software on most platforms, on mobile (iOS and Android) and on browser.

HF Markets Currency Pairs

Educational Tools and Customer Support

HF Markets offers some courses on trading that could be beneficial to beginner traders. The broker has an education center that covers topics that explain forex prices, currency pairs, risk, trading strategies, and more. The broker also offers a glossary that contains detailed trading terminology. The broker also offers access to an e-course when you open a demo or live account with them. HF Markets also offers video tutorials on various trading topics.

HF Markets have in-house financial analysts who regularly update traders on market news and insights. They share a daily market review, technical analysis, and regular market outlooks. The section also contains various tools like an Economic Calendar, calculators, and more. A section that the broker dedicates a lot of attention to is their live webinars. You can tune in at different hours of the day to listen to professionals discuss various topics that apply to both beginners, intermediate, and expert traders. The great part about the webinars is that you can ask questions at the end of it, and the experts will happily answer.

The webinars are a great way to discover industry tricks, learn to analyze financial markets, and interact with experts. You can also access past seminars to refresh your memory.

Customer support at HF Markets is fantastic. The support team is multilingual and is available on a 24/5 basis. They can be reached via phone, email, or live chat.

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