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HFM (HF Markets) Review

Steven Hatzakis

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

October 14, 2022
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.37% of retail CFD accounts lose money. 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 HF mobile app does now support trading.

HFM
4 Stars Overall
  • Minimum Initial Deposit: $5
  • Trust Score: 85
  • Tradeable Symbols (Total): 3500

HFM pros & cons

thumb_up_off_alt Pros

  • Premium Trader Tools, developed by FX Blue Labs, enhance the default MetaTrader suite.
  • HFM has struck a good balance of in-house market analysis, third-party research content, and news.
  • 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 1,200 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.

thumb_down_off_alt Cons

  • Despite a decent selection of videos, HFMs educational content has room to improve, such as adding more articles.
  • 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.

Overall Summary

Feature HFM logoHFM
Overall Rating 4 Stars
Trust Score 85
Offering of Investments 4 Stars
Commissions & Fees 4 Stars
Platform & Tools 4 Stars
Research 4 Stars
Mobile Trading 4 Stars
Education 3.5 Stars
View More

The ForexBrokers.com annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test.

Is HFM safe?

Trust Score
85
ForexBrokers.com

HFM is considered average-risk, with an overall Trust Score of 85 out of 99. HFM is not publicly traded, does not operate a bank, and is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). HFM is authorised by the following tier-1 regulators. Financial Conduct Authority (FCA). Learn more about Trust Score.


Feature HFM logoHFM
Year Founded 2010
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 1
Tier-2 Licenses 3
Tier-3 Licenses 1
View More

2022 Review Methodology

For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

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About the Author

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).


John Bringans
John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.


Blain Reinkensmeyer
Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.


Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.
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