HF Markets Review

Is HF Markets a Trusted Forex Broker?

In this comprehensive review, we will delve deeper into HF Markets, evaluating the trustworthiness of the broker by examining a range of different factors, including fund safety, fees, educational features, promotions, online reputation and more. HF Markets is an established market operator, with many years of pedigree in the financial service industry, trusted by traders from all over the globe. Read on to find out more details about HF Markets so you can make an informed decision about whether to open an account with the broker.

Introduction to HF Markets: A Brief Overview

HF Markets, formerly known as HotForex, is an award-winning broker that was first founded back in 2010. It is a multi-regulated and licensed provider of trading services with more than 2.5 million retail and institutional client accounts, 41,000 affiliates and $2 billion in client deposits.

The internationally popular forex and CFD broker presents an excellent range of account types and trading platforms, including the proprietary HFcopy platform which is available to both strategy providers and followers. Traders can also get access to a solid selection of educational and analytical tools, featuring online trading courses and podcasts, alongside a dedicated, standalone website consisting of market news, insight, live webinars and more.

Is HF Markets Safe?

Licensing and Regulation

HF Markets is fully compliant with numerous regulatory authorities across multiple jurisdictions around the world, which distinguishes the broker from some of its market competitors. It is overseen by several top-tier financial regulators globally, such as the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange (CySEC) in Europe. Other licences held include the Seychelles Financial Services Authority (FSA), the Financial Sector Conduct Authority (FSCA) in South Africa and the Dubai Financial Services Authority (DFSA) in the United Arab Emirates. The above licensing reinforces HF Markets’ reputation as a trusted broker that ensures it meets strict regulatory frameworks on matters such as corporate governance and financial reporting.

Security of Funds and Protection

HF Markets places fund security at the top of its priority list, ensuring that several procedures are in place to protect clients’ funds. Firstly, the broker is signed up to a Civil Liability insurance program up to a limit of €5,000,000 which includes coverage against errors, omissions, negligence, fraud and other risks that could lead to financial loss. HF Markets also ensures the proper segregation of funds, meaning that clients’ funds are received into accounts separate to the ones held by the broker. Moreover, the broker states that funds are kept in tier 1 banking institutions, while it has a policy of negative balance protection to safeguard against volatility in the market.

HF Markets Trading Platforms

HF Markets presents an excellent variety of trading platforms to suit all types of traders, including the widely acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Additionally, HF Markets features its proprietary HFCopy platform, which allows traders to engage in social trading by copying the trades of more experienced traders. This is beneficial for beginner traders looking to learn strategies and gain insights from more experienced market participants. Lastly, there is also a mobile app available to enable trading on the go, while the WebTrader platform allows for browser-based trading without the need for downloads. These options ensure traders can access the markets flexibly and efficiently.

HF Market’s Trading Assets

HF Markets caters to a variety of trading styles by presenting a broad array of asset classes, offering access to trade CFDs on forex, metals, energies, stocks, indices, bonds, commodities, ETFs and cryptocurrencies. In total, the broker gives clients access to more than 1,200 tradable instruments on over 500 markets, including more than 50 forex major and minor pairs, 12 cryptocurrency pairs and more than 50 shares. An analysis of HF Markets’ available trading assets shows that the broker addresses the diverse needs of traders with a broad portfolio of instruments available across multiple global markets.

Trading Conditions at HF Markets

Spreads and Commissions

HF Markets offers a variety of spread options to align with the unique trading strategies and preferences of its clients, with exact spreads dependent on the account type selected. On the Cent account, the broker offers spreads from 1.2 pips, while traders on the Zero account can get spreads from 0.0 pips. Pro account holders will get spreads from 0.6 pips, whereas the spreads start at 1.2 pips on Premium accounts. Regarding commissions, the Zero account charges a commission that starts from as low as $0.03 per 1k lot, while there are no commissions on any of the other account types.

Leverage

The exact leverage amount offered by HF Markets depends on several factors, which include the account type, geographical region and regulatory jurisdiction. In certain countries, the broker has leverage up to 1:2000 across all of its trading accounts, but elsewhere the rate varies from 1:30 for retail clients and up to 1:400 for professional clients. Moreover, the broker states in its terms and conditions that leverage may be adjusted in case the equity in the account is over $300,000. To find out more specific information about the exact leverage rate available, it is advisable to check the company’s website.

HF Market’s Customer Support

HF Markets has a responsive customer support team that is on hand to assist clients 24/5 through various methods, including live chat, email and phone. The broker currently offers more than 10 support languages, meaning clients can expect the same level of service, regardless of which country they are based in. HF Markets’ customer service is ranked highly, when compared to similar brokers and is known for being professional, prompt, and comprehensive, ensuring that traders receive the help they need to effectively manage their accounts and navigate their trading platforms.

Educational Resources for HF Markets Traders

HF Markets provides a wide array of educational resources, designed to enhance the trading knowledge of traders of all experience levels. The broker has a well-established education section with a strong focus on forex, in the form of trading webinars, online trading courses and videos. Traders can also enjoy unparalleled access to a wealth of expert insights thanks to a dedicated website featuring market news, market outlooks and a host of trading tools. HF Markets has an extensive market analysis section, presenting daily market reviews, weekly insights, fundamentals, special reports, video analysis, stocks of the week and numerous podcast episodes.

HF Market’s Reputation: What Traders are Saying

HF Markets is a well-regarded broker with a strong online reputation among its global trader base, particularly regarding the reliability of its platforms and range of trading account options. The copy trading platform HFcopy is a popular feature, with traders enjoying the choice of both the Copy Premium and Copy Cent accounts, available to both followers and strategy providers signed up to HFcopy. There is also positive feedback regarding the customer service offered by HF Markets, with many clients praising the responsiveness and professional nature of its multilingual support team.

How to Open an Account

Open an account with HF Markets by following these simple steps:

1. Visit the HF Markets homepage and click the Register Button.
2. Fill in your details to complete the registration process and click Register.
3. Your account will be created and you can access the MyHF client area where you can create your Demo and Live Trading Accounts.
4. Your account will have to be KYC-Verified before you can fully utilise your trading account.

Featured Promotions

HF Markets have a number of ongoing promotions and competitions for traders to benefit from, including a 100% SuperCharged Bonus, Traders Awards 2024 and a ‘Virtual to Real’ Demo Contest.

• 100% SuperCharged Bonus: Open to all clients, this promotion is available on every deposit over $250 and allows traders to earn cash rebates of $2 per lot, subject to meeting certain conditions. The 100% SuperCharged Bonus offer is only accessible to traders who have an active Premium and/or Islamic trading account, with the maximum cumulative rebate amount being set at $8,000.
  
  
• Traders Awards 2024: Each month, the trader who achieves the greatest gain will be rewarded as the grand winner, receiving a $1,000 cash prize, alongside the HFM Crystal Obelisk and entry to the HFM ‘Hall of Fame’. To enter, clients need to join before the 7th business day of the month, have a minimum account balance of $500 and have a live Premium account.
  
  
• Demo Contest: The HFM ‘Virtual to Real’ Demo Contest is only open to participants with a demo account, enabling clients to master their trading skills risk-free, while claiming real life prizes. Each round is held on a monthly basis and consists of monetary prizes for the top three traders who achieve the greatest gain. The overall winner receives $2,000, while the second and third placed traders get $1,000 and $500 respectively.

The FXTS Verdict: Is HF Markets a Trusted Broker?

HF Markets is one of the better options available on the market right now, due to its strong regulatory compliance, reliable platforms and range of trading products. The level of customer support provided is better than competitor brokers, due to the variety of communication methods and the generally quick responses clients receive. Another notable feature of the broker’s client offering is the sheer size of its educational section, which features a plethora of resources ranging from market news and insight to live webinars and podcasts. Overall, HF Markets is a good option for both beginner and experienced traders who are looking for an established broker that is trustworthy, reliable and easy to contact.