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HFM (HF Markets) is a big and broad broker whose straightforward thinking and nonchalant execution serves as a glimpse to the future of this great and multibillion dollar industry.
The following broker is just a single entity coming from a whole group of excellent brokerages. We refer to it as both HFM.com and HF Markets (SV) throughout the review.
The amount of bonuses and prizes offered here is ridiculous. We almost never say this, but these promotions are worth checking out, provided that you educate yourself on the prerequisites.
- 100% Super Charged Bonus: Get a $2 cash rebate on every standard lot traded.
- 30% Rescue Bonus: Protects users from fund decline by increasing their leverage. Extra margin cannot be withdrawn, but only traded with.
- 100% Credit Bonus: This bonus effectively increases the leverage by giving the user extra trading funds. The bonus can be withdrawal if turnover requirements have been met.
- Return of Free Margin: The user get reimbursed with money based on the daily free margin in his or her account. The money can either be withdrawn or used for further trading.
- HFM Trading Rewards Loyalty Program: Gain HFM bars the more trading you do, and spend said bars on awards, like cash, cash bonus, or other trading services. The more days a user spends trading, the more gold bars he or she accumulates!
- There are trading contest where winners can win expensive prizes and services: electronic gadgets; a $1000 monthly prize for most profit gains, plus a sizeable obelisk award; a $2000 monthly (plus 2nd and 3rd place prizes) “demo account” competition with no real trading money involved; HFM merchandize for the top players; a paid holiday to the UK to meet the racecar driver Tio Ellinas and get a hands-on lesson with him.
Bear in mind that all T/C apply. We strongly recommend that before you enter into any competition or bonus scheme, to read the bonus terms and conditions, because these are notoriously tricky to follow.
This review is of HF Markets (SV) Ltd – FHM.com – the subsidiary HF Markets that is based in Saint Vincent and the Grenadines.
The HF Markets Group of companies include a range of superb brokers that are accessible from almost anywhere in the world. The reason for this global accessibility is the various jurisdictions that the HF Markets Group firms have settled in, creating transparent access points for all sorts of users. Aside from HF Markets (SV) Ltd, the group of firms include the following subsidiaries:
- HF Markets SA (PTY) Ltd Company, regulated in South Africa, and regulated by the Financial Sector Conduct Authority (FSCA).
- HF Markets (DIFC) Ltd, legitimized by the Dubai Financial Services Authority (DFSA).
- HF Markets (Europe) Ltd regulated by CySEC, but available to most European nations through a strong cross border regulatory agreement.
- HF Markets (UK) Ltd, authorized by the UK's very own FCA.
- HF Markets (Seychelles) Ltd, regulated by Seychelles Financial Services Authority (FSA).
- Hot Forex Kenya, licensed by the Capital Markets Authority (CMA) of the Republic of Kenya. Read our thorough review of this excellent Kenyan broker here.
Today we will be focusing on the HF Markets (SV) Ltd subsidiary of the bunch. Please do note that Hot Forex has been re-branded to HF Markets, while the URL's namesake has also been altered to fit the new brand, to hfm.com.
The truth that must be dully considered here is that HF Markets (SV) is not regulated in Saint Vincent and the Grenadines (SVG) but only incorporated as a company there (the site provides an official certificate of incorporation). The jurisdiction does not have an FX license issuer in place. However, this should not be an issue, unlike for most SVG brokers. Remember that HF Markets (SV) is part of a multinational network of fully-licensed and capable brokers that have to answer to some of the most austere and scrupulous financial regulators in the world. One small slip and it's the whole group that has to answer, meaning that HF Markets (SV) cannot afford to act shady. Your funds and details are safe here, while the trading experiences is fair and adheres to all the modern standards.
The real reason why HF Markets (SV) exists in the first place is to offer more loose trading conditions, as well as bonuses, as there is nothing really stopping it from doing so. This is a smart exploit that gives this branch more freedom than the EU and UK branch ever will. We will see the benefits of this as we go through the review.
HFM offers the industry's top trading software, the MT4 and the MT5.
The MT4 is the classic FX trading software. It's so classic, that we should call is a cult platform in that even after so many years it's still being used and acquired by the newest brokers. The MT4 further offers the ability for users to manage multiple account simultaneously via the MT4 MultiTerminal platform.
However, the MT5 comes with an improved interface and updated visuals and trading tools. The MT5 is the newest versions, and is shows: improved EAs, increased time frames, more chart indicators, one-click reverse positions, level 2 market depth, more time frames, etc.
Both terminals are available as desktop softwares, and on Android and Apple devices. Only the MT4 has a web-based counterpart.
On top of these excellent software, the broker also offers VPS Hosting services allowing for improved trading strategy management and a 24/7 constant trading activity even when the user is AFK.
Another great addition is the inclusion of a set of premium trading tools that are integrated to both Metaquotes platforms. Tools such as the correlation matrix, alarm manager, and mini terminal have the potential of increasing you trading gains and making you a far better and more capable trader. We recommend going through all these tools!
Users can really run wild here. There is huge room for self-mastery here.
HFM TRADING CONDITONS
There is a huge assortment of available trading instruments, seemingly covering all tastes and preferences. We have the classic forex currency pairs, both minors and majors, as well as stocks, commodities, and indices. However, HF Markets (SV) takes it up a notch by including bonds, ETFs, and brand new physical stocks (whose existence is non-digital but physical).
One of the biggest reason that these offshore branches exists is the leverage restrictions. In the EU and UK the leverage is automatically capped at 1:30, and only very pro users can attain a higher amount. Whilst here with HF Markets (SV) the leverage has been set at 1:1000, a huge change from the former. But, it's worth considering that a 1:1000 can just as easily lead to an abrupt loss of all funds as quickly as it can to a huge profit gain.
Let's take a gander at the different account types:
- Micro Account: Spreads start from 1 pips, with a max leverage of 1:1000. It's interesting here that this is the only account that offers a 1:1000 leverage; all other accounts have it lower at 1:500 or lower. This is made in order to attract more retail users, since this account type is perfect for both novice traders and expert retail investors.
- Premium Account: Maximum leverage of 1:500, with a minimum spread of 1 pip.
- Zero Spread Account: From 0 pips on FX pairs, with a $6 round turn commission, resulting in a minimum of 0.6 pip spread for the EUR/USD pair. The maximum leverage is 1:500. This account type is catered more towards big players and EA-using traders.
- PAMM Account (Premium): 1:300 max leverage. The account is further divided into 2: Premium and Sub-Premium.
Premium- The minimum spread is 1.3 pips.
Sub-Premium- The minimum spread is 0.4 pip spread + $8 round turn commission, essentially resulting in a 1.2 pips spread.
- HFCopy Account: Spreads start from 1 pip, while the leverage is maxed out at 1:400. Account users can either become Strategy Providers or Followers. The former provide automated trading strategies, while the latter take advantage of these strategies by paying a Performance fee.
As you can see, there is enough here for everyone, and for every taste.
The minimum deposit is just $5 for the Micro account type, which is the Standard one. Each account has a different minimum deposit, and none of them go overboard with the numbers. However, if users chose to invest via wire transfer, the minimum her is capped to $100.
There are no depositing fees, unless you count processing fees by bank institutions and the ones issued by PayRedeem. Both fees are issued by the payment systems and not the broker.
The base currencies are USD, EUR, NGN, and JPY.
The minimum withdrawal amount is $5 for all methods, expect for bank ($100) and PayRedeem ($100 as well). Only bitpay transactions are charged a 1% withdrawal fee by the broker. Different banking institutions may issue differing commissions. All other payment methods are not charged any fees.
It takes up to 10 days for card and wire transfers to process, and u to 10 minutes for all other methods.
These are very good payment grounds, excellent in fact, giving users a huge pool of options.
HFM is an enormous broker that never comes out as overwhelming, which speaks of its ability to be modest yet near infinite at the same time. It's one of the best there is.
HFM.com compared to other brands
Saint Vincent and the Grenadines
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines