HFM Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.37% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our research led us to conclude that HFM is a commendable choice for traders interested in forex and CFDs. With its diverse offering and positive evaluations across multiple aspects, HFM is recommended for traders looking for a reliable and robust trading platform, with a particular emphasis on copy trading.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Wide Range of Trading Platforms: HFM provides a variety of platforms including MetaTrader 4, MetaTrader 5, and its own proprietary copy trading platform, catering to different trading preferences.
- Trading Tools Availability: Offers trading signals and copy trading, enhancing its trading suite for more strategic trading options.
Cons
- Trading Costs: The prices and fees for trading are higher than average with their spread-only accounts.
- Fewer Tradeable Symbols: The range of available tradeable symbols has dropped to about 500, below average compared to the industry.
Ratings Summary
- Investment Types - 8.0/10
- Commissions & Fees - 7.5/10
- Trading platforms - 7.5/10
- Research - 8.0/10
- Mobile Apps - 7.5/10
- Education - 7.0/10
- Overall - 7.9/10
Can I trust HFM?
Yes, HFM is a trustworthy broker, regulated by MiFID and the U.K. FCA, with a "Trusted" trust score of 86 from ForexBrokers.com.
HFM is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system
- Tier-2 Regulators - Central Markets Authority (CMA), Financial Sector Conduct Authority (FSCA), and the Dubai Financial Services Authority (DFSA)
- Tier-3 Regulators - None
- Tier-4 Regulators - Mauritius' Financial Services Commission (FSC) and Financial Services Authority (FSA)
Is HFM good for beginners?
Our assessment concludes that HFM is a favorable choice for beginners, supported by its comprehensive educational offerings in both advanced and beginner videos, and an array of educational materials dedicated to forex and CFD trading. That said, its educational offering still lags behind the industry leaders.
| Feature |
HFM
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
HFM commissions and fees summary
In terms of commissions and fees, HFM is an okay option for investors, especially considering its average spread cost for the EUR/USD pair is 1.2, which is slightly higher than the industry average of 1.08. It does not require a minimum deposit and offers a range of payment methods, although it lacks active trader discounts. Overall, HFM is recommended based on its commission and fee structure.
| Feature |
HFM
|
|---|---|
| Minimum Deposit | $0 |
| Average Spread EUR/USD - Mini | 1.2 |
| Average Spread EUR/USD - Standard | 1.2 |
| All-in Cost EUR/USD - Active | 0.7 |
| Active Trader or VIP Discounts | No |
HFM trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
HFM provides robust trading platforms including MetaTrader 4, MetaTrader 5, and a proprietary copy trading platform, covering a broad spectrum of trader needs. Be aware however that its proprietary platform only supports copy trading; HFM does not support a web app for trading beyond the MetaTrader suite.
Trading platforms offered: HFM supports MetaTrader 4, MetaTrader 5, and a proprietary copy trading platform, HF Copy.
Trading tools: Offers comprehensive trading tools including copy trading and trading signals.
Copy trading: Available, providing an additional method for traders to engage with the market.
| Feature |
HFM
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
HFM trading platform screenshots
Mobile trading apps at HFM
Our testing found that HFM's mobile trading apps are well-suited for traders who need access on the go, with a high level of functionality and ease of use recommended for mobile traders.
| Feature |
HFM
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
HFM mobile app screenshots
How do I open an account with HFM?
- Visit the HFM website and locate the registration page.
- Complete the online application form with your personal and financial details.
- Verify your identity and address by uploading the required documents.
- Once verified, fund your account using one of the supported methods.
- Begin trading by accessing your new HFM account.
What can I trade at HFM?
HFM allows trading in a variety of markets, offering 102 forex pairs and a total of 500 tradeable symbols, which is below the industry average of 3,623 tradeable symbols.
| Feature |
HFM
|
|---|---|
| Tradeable Symbols (Total) | 500 |
| Forex Pairs (Total) | 102 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | No |
HFM research screenshots
Account funding at HFM
HFM supports several funding options including bank wires, Neteller, credit cards, and Skrill. However, it does not support PayPal as a funding method.
| Feature |
HFM
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Neteller (Deposit/Withdraw) | Yes |
About HFM
HFM, established in 2010, has grown into a reputable broker in the forex and CFD trading industry. Not publicly traded and focused on providing robust trading tools and educational resources, HFM has developed a strong presence especially in markets where it is regulated, such as under MiFID and the U.K.'s Financial Conduct Authority. With a diverse offering that includes multiple trading platforms and advanced trading tools, HFM aims to cater to a broad spectrum of traders, from beginners to experienced professionals.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
AI disclaimer
We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and 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. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Research for BrokerNotes.co and 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).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.