HFM Review ☑️ South Africa Edition (Updated 2024) (2024)

Overall, HFM, regulated by the FSCA, can be summarised as a trustworthy and safe broker in South Africa. HFM offers exceptional 24/5 educational support and low spreads. It is regulated by Tier 1 and Tier 2 Trading Bodies. It has a high trust score of 96 out of 99.

🛡️Regulatedand trusted by theFSCA.
🛡️2821 new traderschose this broker in the last 90 days.
🛡️Available forSouth African Traders 🇿🇦

HFM At a Glance

HFM Review – Analysis of Brokers’ Main Features

1. ☑️Overview
2. ☑️At a Glance
3. ☑️Spider chart
4. ☑️Safety and Security
5. ☑️Bonus Offers and Promotions
6. ☑️Affiliate Program
7. ☑️Account Types and Features
8. ☑️Step-by-Step Guide: How to open an Account.
9. ☑️Account Deposit and Withdrawal Options
10. ☑️Spreads
11. ☑️HFM vs. XM vs Exness – A Comparison
12. ☑️HFM Trading Platform Comparison
13. ☑️Education
14. ☑️Customer Reviews
15. ☑️HFM Pros and Cons
16. ☑️100 Key PointHFM Breakdown
17. ☑️Conclusion
18. ☑️Disclaimer
19. ☑️Our Findings
20. ☑️Frequently Asked Questions
21. ☑️References

HFM Spider chart

Overview

HFM was founded in 2010 and has its headquarters in Cyprus.It is an award-winning forex andcommodities broker that providestrading services and facilities to retail and institutional clients.

Retail, Affiliates, and White Label clients can access various spreads and liquidity via state-of-the-art automatedtrading platformsin a tailored trading experience.

The broker focuses on the trading conditions like spread, required time to execute a deal, and account types available to the trader. HFM also offers trading materials and instruments to help traders with their work.

Did you know? – HFM was formally known as HotForex.

HFM provides trading instruments in Forex and CFDs on Indices, stocks, commodities, and Cryptocurrencies. Knowledge of spreads is important to traders because the spread level directly influences the profitability of operations. The following section details HFM’s spreads for each of the asset classes relative to traders from South Africa.

Safety and Security

One of the best benchmarks to measure the safety of a broker like HFMis to establish which regulating authorities are watchdogs over its actions.

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, including coverage against errors, omissions, negligence, fraud, and 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.

Protection of Client Funds

Are my funds safe with HFM?

HFM holds client funds in segregated accounts, separate from the broker’s funds. Additionally, HFM participates in investor compensation schemes offered by its regulatory bodies, providing clients with an extra layer of protection.

What security measures does HFM have in place?

HFM employs advanced security measures to protect client data and funds, including SSL encryption, firewalls, and other security technologies.

Bonus Offers and Promotions

The brokeroffers South African traders the followingbonuses and promotions:

• Supercharged Bonus 100%
• Top-up Bonus 20%

Supercharged Bonus 100%

Supercharged Bonus—This product provided by HFM allows traders to increase their trading capital. Clients receive a 100% bonus credit when they deposit a particular qualifying amount, meaning their investment doubles instantly. This bonus can be used to increase leverage and possibly improve trading opportunities.

Top-up Bonus 20%

The 20% Top-Up Bonus allows new clientele to boost their trading capital at HFM. After depositing a certain money, traders can trade 20% of the invested sum as a bonus. Anyone earning this bonus can cash it out, as it is for trading several types of instruments.

Are there any specific terms and conditions for HFM bonuses?

Yes, all HFM bonuses come with specific terms and conditions. These often include minimum deposit requirements, trading volume requirements, and bonus withdrawal restrictions. It’s crucial to read the terms carefully before claiming any bonus.

How can I withdraw my bonus and profits?

The withdrawal of bonus funds and profits depends heavily on the rules of the bonus terms. Some bonuses require the trader to comment on a specific volume of trade before they can be withdrawn, and others might have limitations on the frequency or amount that can be withdrawn at a time.

Affiliate Program

HFM offers a robust affiliate program to reward individuals and businesses for referring clients to their brokerage. By partnering with HFM, affiliates can earn attractive commissions based on the trading activity of their referred clients.

Key Features of the HFM Affiliate Program:

• Competitive Commission Structure: Affiliates earn a commission for each lot their referred clients trade. The commission structure is designed to be competitive and rewarding.
• Multi-Tier Affiliate System: HFM offers a multi-tier affiliate system, allowing affiliates to earn additional commissions by recruiting sub-affiliates.
• Dedicated Affiliate Support: HFM’s affiliate management team provides dedicated support to affiliates, providing guidance and assistance throughout the partnership.
• Marketing Materials: HFM offers a range of marketing materials to help affiliates promote their affiliate links effectively.
• Real-Time Tracking: Affiliates can access real-time tracking tools to monitor their performance and earnings.

How to open an Affiliate Account with HFM

Step 1 – Click on the ‘Become an Affiliate’ button.

Go to HFM’s official website and click the ‘Become an Affiliate’ button in the top right corner.

Step 2 – Click on the Join Now option.

When redirected to the affiliate page, read through and click the Join Now button.

Step 3 – Fill out the form.

Complete the online form and provide your details. Then click on the register option.

What is the commission structure for the HFM Affiliate Program?

HFM offers a competitive commission structure for its affiliates. The commission rates can vary depending on the number of referred clients, trading volume, and account type. Typically, affiliates earn a commission per lot traded by their referred clients.

How do I track my affiliate performance and earnings?

HFM provides affiliates with a dedicated affiliate dashboard where they can monitor their performance and earnings in real-time. The dashboard provides detailed statistics on the number of clicks, leads, and conversions generated by their affiliate links.

HFM Account Types and Features

Cent Account

HFM’s Cent Account is specifically designed for traders new to the forex market or those looking to test new trading strategies with minimal risk. It allows you to trade with minimal money, making it a perfect environment to learn and practice without risking substantial capital.

Key Features of the HFM Cent Account:

• Cent Lots: You trade in cent lots, which are 1/100th of a standard lot. You can start trading with as little as $0.01 per pip.
• Low Margin Requirements: The margin requirements are incredibly low, allowing you to open positions with minimal funds.
• No Minimum Deposit: You can start trading without initially depositing any funds.
• Swap-Free Options: Available for traders who follow Islamic trading principles.
• High Leverage: While leverage can amplify profits and losses, HFM offers high-leverage options on Cent Accounts.

Zero Account

HFM’s Zero Account is designed for traders seeking minimal costs and maximum transparency. It offers raw, super-tight spreads directly from leading liquidity providers with no hidden markups or commissions.

Key Features of the HFM Zero Account:

• No Minimum Deposit: Traders can start with any amount they choose.
• Raw Spreads: Benefit from the actual market spreads without any added costs.
• Low Commission: A competitive commission structure is applied.
• High Leverage: Up to 1:2000 leverage is available, though using leverage responsibly is important.
• Swap-Free Accounts: Available for Islamic traders.

Pro Account

HFM’s Pro Account is designed for experienced traders seeking advanced trading conditions. This account type offers a range of benefits that aim to enhance trading performance and profitability.

Key Features of the HFM Pro Account:

• Ultra-low spreads: The Pro Account is characterized by exceptionally tight spreads, which differ between a trading instrument’s bid and ask price. This allows traders to maximize their profits.
• High leverage: While leverage can amplify profits and losses, the Pro Account often offers higher leverage options than standard accounts, enabling traders to control larger positions with a smaller initial investment.
• No commissions: HFM’s Pro Account typically doesn’t charge commissions, making it more cost-effective for traders who execute a high volume of trades.
• Swap-free options: Swap-free accounts might be available for traders following Islamic trading principles, eliminating overnight financing charges.
• Access to advanced trading tools: The Pro Account often has additional tools and resources to help traders analyze markets and make informed decisions.

Pro Plus Account

HFM’s Pro Plus account is designed specifically for experienced traders seeking superior trading conditions. It offers a combination of ultra-low spreads, high leverage, and a swap-free environment.

Key Features:

• Ultra-low spreads: Starting from as low as 0.2 pips, Pro Plus accounts provide tight spreads for potentially increased profitability.
• High leverage: Up to 1:2000 leverage (specifics may vary by region) allows for amplified returns but also carries increased risk.
• Swap-free: Suitable for Islamic traders or those who prefer to avoid swap charges.
• No commissions: Traders aren’t charged any additional fees beyond the spread.

Premium Account

HFM’s Premium Account is designed to cater to the needs of experienced retail traders. It offers a balance of flexibility and competitive trading conditions.

Key Features of the HFM Premium Account:

• Flexibility in Position Sizing: Traders can adjust their trade sizes with a minimum of 0.01 lots and a maximum of 60 lots per trade.
• Swap-Free Trading: Ideal for Muslim traders who adhere to Islamic financial principles.
• No Minimum Deposit: Traders can start with any deposit amount they prefer.
• No Commission: There are no additional charges beyond the spreads.
• Access to Multiple Platforms: Trade on MT4, MT5, WebTrader, or the HFM mobile app.

Can I open multiple account types with HFM?

HFM allows you to open multiple account types under the same client profile. This flexibility lets you choose the most suitable account for different trading strategies or market conditions.

Does HFM offer Islamic accounts?

HFM provides swap-free accounts to accommodate Muslim traders who adhere to Islamic financial principles. These accounts eliminate interest-based charges, allowing for compliant trading.

Step-by-Step Guide: How to open an HFM Account.

Step 1 – Complete Your Personal Information.

The first step is to head to the HFM homepage.Click“Open Live Account” on the top right, as shown below, and proceed to enter your personal information.

Step 2 – Complete Your HFM Live Account Profile.

Traders will be required to complete their required personal information for the process to be completed.

Step 3 – Upload requested Documents to Verify your chosen HFM Markets Live Account.

Traders must upload requested documentation before selecting a Forex trading platform.

Step 4 – Choose a Trading Platform.

The HFM live trading account verification 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 submitted before 10:00 a.m. server time are processed on the same business day between 7:00 a.m. and 5:00 p.m. server time.

Does HFM have any restrictions on deposit and withdrawal amounts?

HFM typically has minimum and maximum deposit and withdrawal limits, depending on the account type and payment method. It’s important to review HFM’s terms and conditions for detailed information on these restrictions.

How long does it take for HFM to process withdrawals?

Withdrawal processing times at HFM can vary depending on the chosen method. Electronic wallets usually offer faster processing times compared to bank wire transfers. It’s advisable to check HFM’s specific guidelines for each withdrawal method.

HFM Spreads

Understanding spreads is vital for traders as they directly impact profitability. This analysis provides an overview of HFM’s spreads for various asset classes tailored to South African traders.

What factors influence HFM’s spreads?

Several factors, including market volatility, asset liquidity, time of day, and your specific account type, influence HFM’s spreads. Generally, major currency pairs tend to have tighter spreads due to higher liquidity, while exotic or less liquid assets may have wider spreads.

Can I get tighter spreads with HFM?