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Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
March 05, 2024
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.37% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Alongside an enhanced MetaTrader offering and quality research, HFM (HF Markets) offers a proprietary copy trading platform, HFcopy, as well as a decent selection of nearly 1,000 CFDs (including 100+ forex pairs). That said, trading costs at HFM are slightly above the industry average across its spread-only accounts.
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HFM pros & cons
thumb_up_off_alt Pros
- 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 (previously known as HotForex) 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.
- 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.
- HFM boasts over 2.5 million clients and over $2 billion in deposits since 2010.
thumb_down_off_alt Cons
- 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.
- HFM's range of markets has dropped to under 1,000 tradeable symbols, though the number of available currency pairs has increased.
- Trading costs are slightly above the industry average — across all account types, except for its commission-based zero account.
- HFM's copy trading platform, HFcopy, requires 300 EUR to follow (copy) existing strategies and is not as mature as eToro's copy trading offering.
- Charts on the HFM mobile app feature just 4 indicators (though mobile charts are otherwise fairly robust).
- Max trade size is 5,000 shares (or 60 standard lots per position).
Overall Summary
| Feature |  |
|---|---|
| Overall Ratinginfo |  |
| Trust Scoreinfo | 86 |
| Offering of Investments | |
| Commissions & Fees | |
| Platform & Tools | |
| Research | |
| Mobile Trading | |
| Education |  |
ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.
Is HFM safe?
Trust Score
86
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 two 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:
| Feature | |
|---|---|
| Year Foundedinfo | 2010 |
| Publicly Traded (Listed)info | No |
| Bankinfo | No |
| Tier-1 Licensesinfo | 2 |
| Tier-2 Licensesinfo | 3 |
| Tier-3 Licensesinfo | 0 |
| Tier-4 Licensesinfo | 2 |
2024 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 on the top forex brokers and 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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About the Editorial Team
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 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 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.
