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Overall, HF Markets can be summarised as a trustworthy and safe regulated broker in South Africa with exceptional 24/5 educational support. HFM is regulated by Tier 1 and Tier 2 Trading Bodies. HFM has a high trust score of 95 out 99.
🔎 Broker | 🥇 HFM |
💰 Min. Deposit | $5 USD / R75 ZAR |
📝 Regulators | CySEC, FSC, CFTC |
₿ Crypto | No |
📌 Total Pairs | 47 |
☪️ Islamic Account | Yes |
💳 Trading Fees | Low |
🚀 Open an Account | 👉 Click Here |
HFM Review – 12 Key Point Quick Overview
- ✔️HFM Overview
- ✔️HFM Safety and Security
- ✔️HFM Accounts
- Step by Step Guide: How to open an HFM Account.
- HFM Account Deposit and Withdrawal Options
- HFM Trading Platform Comparison
- HFM Education
- HFM Pros and Cons
- 100 Key Point HFM Breakdown
- Conclusion
- Disclaimer
- Frequently Asked Questions
HFM Overview
HFM also known as Hotforex was founded in 2010 and has its headquarters in Cyprus. HFM is an award-winning forex and commodities broker that provides trading services and facilities to both retail and institutional clients.
🔎 Broker’s Name | HFM |
⚖️ Certificates | CySEC, FCA, DFSA, FSCA, FSA |
📅 Year Founded | 2010 |
💳 Minimum deposit | $5 USD / R75 ZAR |
💰 Maximum Leverage | 1000:1 |
🌐 Country | UK |
🔘 Types of assets traded | Forex, Metals, energies, Shares, Indices, Bonds, Commodities, DMA Stocks, ETFs |
💳 Supported lot | 0.01 – 500 |
💳 Demo account | Yes |
💰 Traded currencies | AUD, GBP, USD, EUR, CAD, CHF, JPY, SGD, HUF, PLN, NZD, ZAR |
💰 Payment methods | Skrill, Neteller, Debit Card, Wire Transfer, Credit Card, fasapay, Vload |
🛡️ Is scalping allowed? | ✔️ Yes |
📊 Are multiple accounts supported | ✔️ Yes |
📊 Is PAMM supported | ✔️ Yes |
📊 Is CopyTrader supported? | ✔️ Yes |
Retail, Affiliates, and White Label clients can access various spreads and liquidity via state-of-the-art automated trading platforms in a tailored trading experience.
HFM Safety and Security
One of the best benchmarks to measure the safety of a broker like HFM is to establish which regulating authorities are watchdogs over its actions.
🔎 Broker | ✅ Regulating Authority | ✒️ Registration No |
HFM (SV) Ltd | Registered in St. Vincent & the Grenadines as an International Business company (SVGFSA) | 22747 IBC 2015. |
HFM (Europe) Ltd | Cyprus Securities & Exchange Commission (CySec) | 183/12 |
HFM (UK) Limited | Financial Conduct Authority UK (FCA) | 801701 |
HFM (DIFC) Ltd | Dubai Financial Services Authority (DFSA) | F004885 |
HFM (SV) Ltd | Financial Services Commission Mauritius (FSC) | C110008214 |
HFM SA (PTY) Ltd | Financial Sector Conduct Authority South Africa (FSCA) | 46632 |
HFM (Seychelles) Ltd | Incorporated under the laws of the Republic of Seychelles | 8419176-1 |
HFM has made further efforts to safeguard its liabilities against clients and other third parties with a Civil Liability insurance program for a limit of €5,000,000, which includes coverage against errors, omissions, negligence, fraud, and various other risks.
HFM only uses major global banks and clients’ funds are kept in bank accounts separate from those used by the company. Negative Balance protection is also made available.
HFM Accounts
🔎 Account | 📈 Micro Account | 💹 Premium Account | 🌐 HFcopy Account | 📊 Zero Spread Account |
💵 Minimum Deposit | $5 ( ZAR 78,66) | $100 ( ZAR 1573,11) | $300 ( ZAR 4719,32) | $200 ( ZAR 3146,21) |
📈 Leverages | 1:1000 | 1:500 | 1:400 | 1:500 |
📉 Spreads | From 1 pip | From 1 pip | From 1 pip | From 0.0 pips |
📎 Commissions | No | No | No | Yes |
📑 Order Executions | Market Execution | Market Execution | Market Execution | Market Execution |
🔁 Swap- Free | ✔️Yes | ✔️Yes | ✔️Yes | ✔️Yes |
🚀 Open an Account | 👉 Click here | 👉 Click here | 👉 Click here | 👉 Click here |
Step by Step Guide: How to open an HFM Account.
1. Step 1 – Complete Your Personal Information.
The first step is to head to the Hotforex homepage. Simply click “Open Live Account” on the top right as shown below and proceed to enter your personal information.
2. Step 2 – Complete Your HFM Live Account Profile.
Traders will be required to complete their required personal information in order for the process to be completed.
3. Step 3 – Upload requested Documents to Verify your chosen HFM Markets Live Account.
Traders will be required to upload a selection of requested documentation before they will be able to select a Forex trading platform.
4. Step 4 – Choose a Trading Platform.
The Verification of the HFM live trading account should generally be completed within minutes of uploading all documentation. Once a trader is fully confirmed, they will receive an email notification as confirmation.
HFM Account Deposit and Withdrawal Options
HFM Deposit Options:
- Bank Transfers
- Credit/Debit Cards
- Alternative Options
HFM does not apply any deposit fees.
HFM Withdrawal Options:
- Bank Transfers
- Credit/Debit Cards
- Alternative Options
Withdrawals that are submitted before 10:00 am server time are processed on the same business day between 7:00 am and 5:00 pm server time.
HFM Trading Platform Comparison
HFM has designed its trading platforms to ensure that every trader who opens an HFM Live Trading Account can trade in their preferred style and on the device of their choice.
Both MetaTrader 4 and MetaTrader 5 are very popular and powerful trading platforms. MetaTrader 4 and MetaTrader 5 allow traders to access the financial markets, and HFM takes advantage of the best features of each. This provides the perfect trading environment.
You might also like: HFM vs Exness
To find out more about the differences between HFM MT4 and HFM MT5 and decide which one is best for you. Take a look at the table below:
🔎 Feature | 5️⃣ MT5 | 4️⃣ MT4 |
⏱ Timeframes | 21 | 9 |
📈 Technical Indicators | 37 | 30 |
📉 Analytical Objects | 44 | 31 |
📅 Built-in Economic Calendar | Yes | No |
🔍 Platform Speed | 64 bit, multi-threaded | 32 bit, mono-threaded |
📌 Order Execution | Market Execution | Market Execution |
⏯ Pending Order Types | 6 | 4 |
🔍 Hedging | Yes | Yes |
📎 Strategy Tester | Multi threaded | Single thread |
HFM Education
HFM offers its clients a large selection of educational materials. This includes HFM educational videos, Training course videos, Forex education/e-course, Live Webinars, Events, Exclusive analysis, and a Podcast.
Forex Education Videos
Each educational video is carefully designed and delivered by leading industry experts. Educational Videos provide a breakdown of the fundamental concepts of the forex industry.
Training Course Videos
Training course videos are offered on a wide range of market-related topics.
Forex Education/e-course
The education center is essentially a Forex resource center with the intention of creating a library of resources for clients to access.
Live Webinars
HFM webinars are designed to improve clients’ FX knowledge and help them hone their trading. Every live webinar will be followed by a Q&A session.
Events
HFM organizes regular events hosted by HotForex experts, as a unique and invaluable opportunity to meet their team in person and gain exclusive trading knowledge.
HFM Pros and Cons
✔️ Pros | ❌ Cons |
Great range of markets | Only Forex and CFDs products |
Enabled negative balance protection | Three entities in offshore zones |
100 Key Point HFM Breakdown
🏢Name of Broker | Hotforex |
📅 Year Founded | 2010 |
🥇 Head Office | Katherine & West Suite 18 Second floor 114 West Street Sandton, Johannesburg 2031 |
☎️ Head Office Telephone Number | +27-10-443-9924 |
🏛️ Financial Regulatory Bodies | Financial Sector Conduct Authority (FSCA) in South Africa |
🗺️ Tier-1 Licenses | Financial Service Provider (FSP) with authorisation number 46632 |
🗺️ Tier-2 Licenses | – |
🗺️ Tier-3 Licenses | – |
👨👩👧👦 Publicly Traded | – |
📊 Active Traders | 2500000+ |
🏆 Awards | 50+ |
📈 Trading Desk Type | STP & ECN trading platforms |
💲 Accept US Clients | No |
🚀 Welcome Bonus | Yes |
📒 Account Types | Micro, Premium, Zero Spread, HFcopy, Auto |
👨👩👧👦 Account Open Languages | English, Spanish, Portuguese |
☪️ Islamic Account | Yes |
⏱️ Time to open an account | 24 hours |
💱 Products Offered | CFDs on Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks DMA, ETFs |
⚠️ Is Hotforex safe to trade on? | Yes |
📊 Trust Score | 9.6/10 |
👛 Minimum Deposit | $5 |
👛 Demo Trading Account available | Yes |
👛 Deposit with credit/debit account | Yes |
👛 Deposit with Cryptocurrencies | No |
👛 Deposit with QIWI | No |
👛 Deposit with Bank Wire | Yes |
👛 Deposit with Bitpay | No |
👛 Deposit with Neteller | Yes |
👛 Deposit with Skrill | Yes |
👛 Deposit with Electronic Wallet | Yes |
👛 Deposit with Paypal | No |
👛 Deposit with Payoneer | No |
👛 Deposit Processing Time | Depends on deposit method |
📈 Number of Base Trading Currencies | 50+ |
📈 Account currencies | USD, EUR, GBP |
📈 Major Forex Pairs | USDCAD, USDCHF, USDJPY, EURUSD, EURGBP, GBPCAD, GBPUSD & more |
📈 Minor Forex Pairs | AUDCAD, CHFSGD, EURAUD, EURNZD, & more |
📈 CFDs (Total) | 1200+ |
📈 Stock Indice CFDs | UK100, USA100, USA30, AUS200, FRA40, GER30, JPN225, NETH25, SPA35, SUI20 & more |
📈 Stock CFDs | Tesla, Amazon, Facebook, Alphabet, Netflix, Disney, Alibaba & more |
📈 ETF CFDs | Yes |
📈 Commodity CFDs | Yes |
📈 Blend CFDs | |
📈 Bond CFDs | Yes |
📈 Cryptocurrency CFDs | No |
📈 Allows Hedging | Yes |
📈 Allows Scalping | Yes |
📈 Allows Swaps | Yes |
📈 Maximum Leverage | 1:1000 |
📈 Spreads | Variable |
📈 Minimum Lot Size | 0.01 |
📈 Maximum Lot Size | 60 Standard lots |
📈 Social / Copy Trading | Yes |
📈 Charting | Yes |
📈 AutoChartist | Yes |
📈 Trade Alerts | Yes |
💰 Trading Fee Class | No |
💰 Deposit Fee* | No |
💰 Account Opening Fee | No |
💰 Withdrawal fee* | No |
💰 Withdrawal Processing Time | Wire transfer – 2-10 working days, E-wallet – instantly |
💰 Spread Type | Variable |
💰 Commission Fee | Yes |
💰 Inactivity fee | Yes, for accounts showing no activity for 6+ months |
💻 MetaTrader 4 (MT4) | Yes |
💻 MetaTrader 5 (MT5) | Yes |
💻 Zulu Trade | No |
💻 cTrader | No |
💻 DupliTrade | No |
💻 Desktop Availability | Yes |
💻 Web Availability | Yes |
📱 Mobile Availability | Yes |
📱 Android App | No |
📱 Apple iOS App | No |
📱 Huawei App | No |
📱 Blackberry App | No |
👨💼Customer Service | 24 hours, 5 days a week |
👨💼 Phone Support | Yes |
👨💼 Livechat Support | Yes |
👨💼 Email Support | Yes |
👨💼 Education / Help Centre | Yes |
👨💼 Beginners Trader friendly UX | Yes |
👨💼 Community Forum | No |
👨💼 Currency Converter | Yes |
👨💼 Traders’ Calculator | Yes |
👨💼 Economic Calendar | Yes |
👨💼 Forex calendar | Yes |
👨💼 Weekly Webinars | Yes |
👨💼 Affiliate program | Yes |
🛡️ Two-step Authentication | Yes |
🧮 Spread score | 9.6 |
🧮 Leverage score | 9.5 |
🧮 Trading Platform score | 9.4 |
🧮 Range of trading instruments score | 9.8 |
🧮 Education Score | 9.5 |
🧮 Customer Service Score | 9.8 |
🧮 User Experience Score | 9.5 |
🧮 Trust Score | 9.5 |
Social Media Pages | |
🔗 Official Facebook Page | View here |
🔗 Official Twitter Page | View here |
🔗 Official Youtube Channel | View here |
🔗 Official Linkedin Page | View here |
🔗 Official Instagram Page | View here |
🔗 Official Website address | View here |
Senior Management | |
💼 Current CEO | George Koumantaris |
* Intermediary and/or beneficiary bank fees may apply |
Conclusion
Overall, HFM can be described as a worthwhile option for potential traders, as it presents a global brokerage company with a well-established regulated and customer-oriented operation that provides a secure, well-regulated trading environment.
Services and products are tailored to specific requirements while bringing clients a comprehensive range of accounts, platforms, premium trader tools, tight spreads, educational resources, and instruments.
HFM’s pricing strategy shows transparent prices with one of the lowest rates in the industry, with negative balance protection available for traders worldwide.
HFM is continuously establishing its position as a market leader and offers great trading conditions and competitive advantages to its clients.
Disclaimer
HFM warns all potential customers that Forex and CFDs trading always carries a degree of risk and may not be suitable for all investors. This is an important risk warning to keep in mind, especially for any beginner trader.
Before deciding to trade the products offered by HFM potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
HFM warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence HotForex cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
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Frequently Asked Questions
Is HFM a fake or scam?
No, HFM is a globally recognized, award-winning forex and commodities broker who is not a fake or scam. It is regulated by the applicable regulatory authority in the jurisdictions where HFM brokers offers services, including by the FSCA in South Africa.
What is the cost of trading with HFM (formerly known as Hotforex)?
The cost of trading with HFM (formerly Hotforex) depends on the type of trading account – Micro account: $5 ( ZAR 85,09), Premium account: $100 ( ZAR 1702), HFCopy account: $300 ( ZAR 5106) and the Zero spread account: $200 ( ZAR 3404) at the current usd/zar echange rate at the time of writing.
Does HFM have an office in South Africa?
Yes, the HFM (formerly known as Hotforex) office is situated in Johannesburg, South Africa.
What is the overall rating for HFM out of 10?
The overall rating for HFM (formerly known as Hotforex) is 9/10
Does HFM provide traders with Educational resources?
Yes, training course videos, educational videos, forex education/e-course, events, live webinars, exclusive analysis, and a podcast are available for training purposes.
Featured SA Shares Writer and Forex Analyst.
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