HFM (HF Markets) Review
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.
Tradeable Symbols (Total):
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HFM pros & cons
- 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.
- 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).
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Is HFM safe?
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:
|Publicly Traded (Listed)||No|
2023 Review Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.
Read our full explanation and accounting of our research and testing process to 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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