HF Markets Review Summary
HF Markets Review Highlights
Pros & Cons
- Trust-worthy broker that won many awards and is well regulated.
- Insightful research section
- Good variety of platforms that includes both the MT4 and the M5
- Limited number of cryptocurrencies available for trading
HF Markets offers a variety of tradeable products to their clients like (CFDs) on forex which includes many majors, minors and exotic pairs, spot metals like Gold and Silver, energies such as crude oil and natural gas, commodities like copper, coffee and sugar, indices, bonds and of course popular cryptocurrencies like Bitecoin, Litecoin, Ethereum and Ripple.
While HF Markets has most of the important tradable instruments, we found the variety of options to be limiting, particularly in the area of cryptocurrencies – newer digital currencies like NEO, DASH, Zcash, Tron (TRX) and Binance Coin were unavailable.
HF Markets offers ECN/STP execution and operates as an NDD broker (No Dealing Desk), which means that investors’ orders are forwarded to the interbank market without being processed by a dealing desk. Traders can pick from two base account currencies: USD and EUR.
Opening an account with HF Markets was relatively simple for us – the broker required the standard KYC documents like most regulated brokers do, such as proof of identity and proof of address. The minimum deposit to open a Micro account is $50. The broker offers several account types for the needs of different brokers:
Micro Account – This account type offers the simplest features from all the five accounts provided by HF Markets. The minimum deposit fee is $50. Spreads are variable and begin from 1 pip, the average spread on EUR/USD being 1.2 pips. The leverage for the Micro Account is variable however the maximum is 1:1000. No commission is charged but instead, HF Markets integrates their trading fee into the spread. Swap-free accounts (or Islamic accounts), are available for those who abide by Sharia law.
Premium Account – This account type was designed to accommodate the needs of more seasoned, professional traders. The minimum deposit fee is $100. Spreads are variable and begin from 1 pip, average spread on EUR/USD being 1.2 pips. The leverage for the Premium Account is variable however maximum is up to 1:500 No commission is charged but instead, HF Markets integrates their trading fee into the spread. Swap-free accounts (or Islamic accounts) are available for those who abide by Sharia law.
Zero Spread Account – This account type is a form of low-cost trading account that can be very useful for scalpers, traders who enjoy automated trading tools such as EAs (Expert Advisors) and those with high-volume trades. Spreads are variable and the average spread on EUR/USD is 0.1 pips plus commission. The leverage for the Zero Spread Account is variable however; maximum is up to 1:400. This form of account charges commission as well as extremely low spreads. Swap-free accounts (or Islamic accounts) are available for those who abide by Sharia law.
HF Copy Account – This account type offers users a trading method called social trading or copy trading. Copy-trading allows users to copy the trades of other investors and therefore achieve more profitable returns. Traders can join either as ‘Strategy Providers’ (SPs) or as Followers. The minimum deposit fee is $1000 for SPs and $300 for followers. Spreads are variable and are as low as 0 pips; average spread on EUR/USD is 1.1 pips. The leverage for the HF Copy Account is variable however maximum is up to 1:400. No commission is charged but instead, HF Markets integrates their trading fee into the spread.
Premium Pro Account – This account type was created to cater to the needs of Professional Clients or Experienced Retail Clients. It was designed to be the type of account that professional traders who understand the risks of trading CFDs. The minimum deposit fee is $500. Spreads are variable and are as low as 1 pip. The leverage for the Premium Pro Account is up to 1:400 for Professional Clients and up to 1:100 for Experienced Retail Clients. No commission is charged but instead, HF Markets integrates their trading fee into the spread.
We found the trading conditions and HF Markets to be quite favorable. The broker offers a variety of accounts and mostly the broker offers quite low spreads and no commission, except in the case of Zero Spread accounts. There are no withdrawal or deposit fees however the same method for withdrawing funds must be used as was used when depositing them. HF Markets does not charge inactivity fees.
HF Markets allows several different methods for depositing and withdrawing funds such as debit/credit cards, popular e-wallets and online banks like Skrill, Neteller, Softort, iDEAL and Webmoney. HF Markets also offers contests and bonuses based on what their regulators allow – EU clients do not have access to this. The competitions that HF Markets holds allows traders to win cash, merchandise, and gadgets.
HF Markets uses the MetaTrader platforms developed by the fintech company MetaQuotes. HF Markets offers the MT4 (MetaTrader 4) but not the MT5 (MetaTrader 5). This platform is extremely popular among traders as the platform is highly customizable and offers many tools to traders like technical indicators, analytical tools, and charting tools. The platform is available on desktop, browser, Multiterminal and mobile trading like iOS and Android.
MT4 is a user-friendly platform that suitable for beginner traders. It is popular for its simple design and its compatibility with various operating systems. However, MT5 does offer more attractive features for advanced traders. The platforms are available in a variety of languages such as English, French, German, Greek, etc.
We were pleasantly surprised by the level of research and education that HF Markets offers. The broker developed a website specifically for analysis and research and hired a team of financial analysts to provide users with information as well as data for trading. The team regularly share market updates, news and insights. There are frequent articles and videos posted on the website that help keep traders up to date with the economic activities in the world.
In addition to this, there is an Economic Calendar that is regularly updated with financial events that affect the market on a daily basis. Furthermore, HF Markets offers live webinars on various topics for different trading levels. Every webinar is followed by a Q&A session where traders can ask advice on trading. Trader’s education is also very important for HF Markets. The broker’s financial analyst team dedicates a lot of time in preparing material for traders in the form of e-courses, tutorials, educational videos, and webinars. We found this area to be quite rich.
We found the customer support at HF Markets to be helpful and easy to reach. They are multilingual and available on a 24/5 basis. Traders can reach customer support through email, phone, and live chat.
To conclude, we believe that HF Markets is a serious, respectable broker that is worth considering. A beginner would benefit from how easy their website is to navigate through and the amount of trader’s education they offer. More advanced traders would benefit from the detailed research tools and articles that HF Markets has.
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