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HF Markets Broker Review

At a glance

HF Markets was founded in 2010 in St. Vincent and the Grenadines and is previously known as HotForex. The broker is headquartered in Cyprus and has offices in Kingston, St. Vincent and the Grenadines

HF Markets is regulated and licensed by multiple regulating bodies such as CySec, FCA, DFSA, FSCA and FSA. As with all CySEC regulated brokers, HF Markets keeps its clients’ funds in a segregated bank account which means the broker is safe to deposit money with.

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

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  • Tradable Assets

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  • Spreads

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  • Trader Education

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  • Customer Service

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HF Markets offers both of the MetaQuotes platforms: the popular, award-winning MT4 (MetaTrader 4) and the latest MT5 ( MetaTrader 5). MT4 is a globally acclaimed trading platform that offers a variety of tools such as advanced charting, a range of Expert Advisors and technical indicators for forecasting. The MT5 is the improved version of the MT4 that offers multi-asset trading.

HF Markets offers both of the platforms in browser version, also known as the MT4/MT5 Web Terminal which allows users to access the platform without downloading software. In addition to this, the MT4 can be downloaded on Windows, Mac and Linux while the MT5 is available on Windows and Mac only. The platforms can also be used through mobile phones - HF Markets offers downloadable applications for Android and iPhone. Mobile trading is very useful to traders as it allows them to trade from anywhere and follow up on market updates remotely. We also discovered that HF Markets offers the MT4 MultiTerminal that allows users to manage multiple accounts at the same time.

HF Markets offers a custom developed copy trading (also known as mirror trading or social trading) tool that allows users to follow other traders, copy successful traders and achieve more profitable trades. All the platforms of HF Markets are available in a variety of languages such as English, German, French, Farsi, Greek, etc.

HF Markets offers its clients five different account types to choose from: Micro, Premium, Zero Spread, HFCOPY and Premium PRO. Previously, the broker offered PAMM (Percent Allocation Management Model) accounts too.

HF Markets’ aim is to offer clients flexibility and excellent trading conditions that suit traders with different needs.  Account currency is either USD ($ United States Dollar) or EUR (€ Euro), except for HFcopy accounts where only EUR is accepted and Premium Pro where PLN (zł Polish Zloty) is accepted along with EUR and USD.

The Micro account has the lowest minimum deposit of all the five account types that HF Markets offers which is just $50.  It offers variable spreads from just 1 pip. The leverage is variable however the maximum is 1:1000.

The Premium account has a minimum deposit of $100 and offers spreads starting with 1 pip and a maximum leverage up to 1:500. The most important aspect of this account is flexible position sizing – minimum trade size is 0.01 lot, while the maximum is 60 Standard lots per position.

The Zero account offers raw spreads from 0 pips. This type of account is commonly used by scalpers as it provides tight spreads. The minimum deposit is $200 and maximum leverage is 1:200.

The HF Copy is an account designed specifically for social trading (or copy trading). This method of trading allows users to achieve more profitable trades by duplicating trades of successful traders. There are two types of traders in the account type: The SPs (Strategy providers) and the ‘Followers’. SPs can have up to 30 ‘Followers ‘. Minimum deposit for HF Copy accounts is $500 for SPs and $100 for Followers. The account offers spreads from 1 pip with a maximum leverage of 1:400.

The Premium Pro Account was designed by HF Markets to accommodate professional and experienced traders. The account has two separate categories of clients: The Professional Client and Experienced Retail Client (ERC). Spreads are from 1 pip and leverage varies – maximum leverage for Professional Clients is 1:400 while for Experienced Retail Clients it’s up to 1:100.

Swap-free accounts (or Islamic accounts) for those who abide to Sharia law, are available as Micro, Premium and Zero accounts.

Since HF Markets offer STP execution, the spreads the brokers offer are variable and tight but the broker also offers fixed spreads for some of its account types. HF Markets does not charge commission on trades but instead integrates their fee into the spread.

The broker accepts both deposits and withdrawals through credit/debit cards, bank transfers and popular e-wallets such Neteller, Skrill, Softort, Webmoney. HF Markets does not charge withdrawal or deposit fees however the same method of withdrawal must be used as was used for depositing funds.  We noticed that withdrawals are processed quite quickly if they submitted in the morning, sometimes even within the same day. HF Markets do not have inactivity fees.

HF Markets offer competitions, rewards and bonuses to their clients outside of the European Union.  There is a ‘loyalty program’ available for long-term clients that trade with HF Markets. In terms of bonuses, the broker offers three types: Super Charged Bonus (100%), Rescue Bonus (30%) and Credit Bonus (100%).

In addition to this, HF Markets often organizes contests where traders can win cash, gadgets, brand merchandise, etc.

HF Markets offer a range of financial trading instruments such as popular shares like Facebook, Google and Apple, indices, energies, commodities, spot metals, bonds and of course CFDs with multiple forex pairs available both majors, minors and exotics.

HF Markets also offers one of the most popular assets for trading which are cryptocurrencies. The broker offers a range of digital currencies:  Bitecoin, Litecoin, Ripple and Ethereum.

We found the client support service of HF Markets to be easily accessible and helpful. Customer support is available 24 hours a day, 5 days a week and in multiple languages such as English, French, German, Chinese, Greek etc.  There are several customer support methods such as phone, email and live chat. Live chat assistants respond instantaneously, and email queries are answered within a few hours.

HF Markets is very active on social media particularly on Facebook and Twitter where they interact with traders and post content regularly.

HF Markets does not provide a vast amount of educational materials as do the broker’s peers, but it is a decent amount to offer support to traders of different levels.  The broker has a learning hub known as HF Markets Education Center that contains a detailed e-course that discusses the basic concepts of forex, trading strategies, understanding risks, etc. The course is support with educational materials such as e-books and a library of video tutorials.

HF Markets also offers a popular training method called live webinars. Traders have access to different levels of webinars, varying from beginner to expert, where forex experts analyze markets live and discuss different techniques and investing skills. There is a Q&A session right after the seminar which allows traders to open a discussion topic that challenges them.

HF Markets offers multiple research tools and have in-house financial analysts and market experts that regularly comment on the market news, insights and outlooks. The broker has an independent website that is contains a daily market review, market analysis, an economic calendar, etc.

HF Markets is definitely a broker worth considering when trading, for its all-around great selection of services.  The broker offers useful research tools, helpful educational materials and a brilliant research portal. HF Markets offers lucrative spreads, plenty of customizations to its platforms and a variety of financial instruments available for trading.

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