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HFM (HF Markets) Review

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer

December 02, 2023

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.37% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, and provides a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average, and its HFM mobile app does now support trading.

4/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 86
  • Tradeable Symbols (Total): 3500

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HFM pros & cons

thumb_up_off_alt Pros

  • Premium Trader Tools, developed by FX Blue Labs, combined with signals via the Autochartist plugin enhance the default MetaTrader suite.
  • Advanced Insights utilizes big data and AI to deliver sentiment analysis and other research tools.
  • HFM has struck a good balance of in-house market analysis, third-party research content, and news headlines from FxStreet.
  • In-house team produces special research reports including monthly, quarterly, and annual outlooks.
  • Correlation and sentiment data is available on HFM's Traders Board module.
  • The improved HFM app now supports trading of 3,500 markets.
  • Recently introduced ability for traders to earn up to 3% interest on the unused margin in their account, as part of their Return on Free Margin (ROFM) offering.
  • The myHF portal continues to improve with newly added features integrated across key categories.
  • Offers indemnity insurance (civil liability) of up to five million euros from Lloyds Insurance, valid through June, 23rd 2023.

thumb_down_off_alt Cons

  • No web app for trading besides the MetaTrader suite and HF Copy.
  • HFM's educational content continues to to improve, but still trails behind industry leaders.
  • Trading costs are slightly above the industry average — across all account types.
  • HFM's copy trading platform, HFcopy, requires 300 EUR to follow (copy) existing strategies and is not as mature as eToro's offering.
  • Charts on the HFM mobile app feature just 4 indicators (though mobile charts are otherwise fairly robust).

Overall Summary

Feature HFM logoHFM
Overall Rating info 4/5 Stars
Trust Score info 86
Offering of Investments 4/5 Stars
Commissions & Fees 4/5 Stars
Platform & Tools 4/5 Stars
Research 4/5 Stars
Mobile Trading 4/5 Stars
Education 3.5/5 Stars has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

Is HFM safe?

Trust Score

HFM is considered Trusted, with an overall Trust Score of 86 out of 99. HFM is not publicly traded, does not operate a bank, and is authorised by two Tier-1 regulators (Highly Trusted), three Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). HFM is authorised by the following Tier-1 regulators: Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system. Learn more about Trust Score.

Check out my video walkthrough and impressions of HFM’s UK MetaTrader 5 Desktop Platform:

Feature HFM logoHFM
Year Founded info 2010
Publicly Traded (Listed) info No
Bank info No
Tier-1 Licenses info 2
Tier-2 Licenses info 3
Tier-3 Licenses info 0
Tier-4 Licenses info 1