HF Markets Review

Is HF Markets a Trusted Forex Broker?

In this review, we examine HF Markets in detail to assess whether it can be considered a reliable choice for traders. Our evaluation covers areas such as regulation, safety of funds, trading conditions, platforms, education and customer support. We also rated HF Markets using the FX Trust Score Index, our very own scoring methodology.

HF Markets has been active for more than a decade and during that time it has built a large international client base and operates under multiple top tier licences. The following analysis sets out the strengths and potential limitations of the broker, in an effort to help traders make an informed decision before opening an account.

Introduction to HF Markets: A Brief Overview

HF Markets, formerly known as HotForex, was founded in 2010 and has grown into a well-recognised international broker. It has won multiple awards and serves both retail and institutional clients, with over 2.5 million accounts, more than 41,000 affiliates and client deposits exceeding a total of $2 billion.

The broker supports a range of trading platforms and account types, including the proprietary HFcopy platform, designed for both strategy providers and followers. Education and analysis are also a core part of HF Market’s offering and clients can access valuable resources such as online courses, podcasts, live webinars and a dedicated market news site.

HF Markets scored an overall total of 82% which puts it in fifth place in our broker leaderboard. Read the full review for a full breakdown and further insights.

Is HF Markets Safe?

Licensing and Regulation

HF Markets is licensed by a number of top tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. It also holds licences from the FSA Seychelles, the FSCA in South Africa and the DFSA in the United Arab Emirates. Multi-jurisdictional coverage means that HF Markets adheres to strict compliance and reporting requirements, which in our view, strengthens its profile as a transparent, trusted and accountable broker.

Security of Funds and Protection

Safeguarding client money is of top priority at HF Markets and they have implemented many safety measures in support of this.

The broker participates in a civil liability insurance programme of up to €5,000,000, which covers risks such as negligence, fraud or operational errors that could result in the loss of funds. Furthermore, all client deposits are held in segregated accounts with tier-one banks, separate from company funds so that they are not used for business expenses or operations. HF Markets also applies negative balance protection, reducing the risk of traders losing more than their deposited funds, during volatile markets.

HF Markets Trading Platforms

HF Markets supports multiple trading platforms to suit different trading styles. Clients can use MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are both popular and widely known for their analytical tools and support for automated strategies. The proprietary HFCopy platform gives traders the opportunity to get involved in social trading and enables beginners to follow and copy the trades of experienced traders, as well as monetise their strategies.

All HF Markets platforms are available on desktop and mobile (iOS and Android), and its WebTrader interface allows browser-based access, with no download required. Clients can literally trade on the go, 24/7.

HF Markets Account Types

HF Markets offers four account types; Cent, Zero, Premium and Pro (availability depends on region). The Cent, Zero and Premium accounts have no minimum deposit requirement, however the Pro account has a minimum deposit of $100. Leverage ratios can reach up to 1:2000 in some jurisdictions. Each account also differs in terms of spreads and commission charges, giving traders flexibility to choose based on their strategy. See our HF Markets account comparison table below for details:

HF Markets Trading Assets

HF Markets gives clients access to more than 1,200 financial instruments across more than 500 markets. Products include forex, metals, energies, indices, equities, ETFs, bonds and cryptocurrencies. The broker lists over 50 forex pairs, 12 crypto pairs and over 50 shares, offering broad exposure across global markets and extensive trading opportunities. Traders can diversify their strategies while keeping all positions under one account.

Trading Conditions at HF Markets

Spreads and Commissions

Trading Conditions at HF Markets vary according to account type. Cent accounts start from 1.2 pips, Premium accounts from 1.2 pips, Pro accounts from 0.6 pips and Zero accounts start from 0.0 pips. The Zero account is also subject to commission as low as $0.03 per 1k lot, whilst the other account types are commission-free. HFM Clients have the flexibility to choose between tight spreads with commission or wider spreads with no additional commission charges.

Leverage

Leverage is dependent on jurisdiction as is the case with a majority of other licensed brokers. In some regions, clients can access up to 1:2000 and under ESMA rules, it is limited to 1:30 for retail and up to 1:400 for professional traders.

HF Markets also states that leverage can be adjusted when account equity exceeds $300,000. Clients should confirm the exact conditions relevant to their location on the broker’s official website.

HF Market’s Customer Support

HF Markets provides 24/5 support via live chat, email and phone. Client support is available in more than 10 languages, which means that there can be meaningful communication between the broker and its clients. Our review found that response times are generally quick and the answers were clear, professional and knowledgeable. 

FX Trust Score gave HF Markets an overall score of 80% for its customer support service, which is encouraging for traders considering investing with the broker.

Educational Resources for HF Markets Traders

HF Markets has invested significantly in its HF Markets Education Centre, which aims to teach traders in simple terms, about the forex market. Current resources include webinars, video tutorials, an ‘HFM Trading the Markets’ podcast and e-courses.

HFM also has a dedicated area featuring forecasts, live charts and daily reviews as well as an Advanced Insights tool that uses AI technology for sentiment and volatility analysis, to help decision making.

HF Markets is also consistent on social media, where it regularly shares insights from senior market analysts, short explainers and important events which could create volatility in the market.

HF Markets Reputation: What Traders are Saying

HF Markets has a very large following on social media and users seems to be highly receptive to their posts and engage frequently. In terms of reviews, the feedback is largely positive with many clients showing preferences for different accounts and sharing good feedback regarding how quickly HF Markets has resolved their deposit or withdrawal issues.

We also saw many references to HFCopy, and users were excited that this option was available, especially when starting on their trading journey.

All in all, the overall perception was that clients had good things to say, with the exception of a few fraud accusations from farway regions, which were addressed by HF Markets representatives, and received no further response. 

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. Complete the registration form and click Register.
3. Your account will be created and you will access the MyHF client area where you can create your a Demo or Live Trading Account.
4. Upload your KYC documents (proof of identity and address) to verify your account.