HFM is a relatively new online forex and CFD broker that allows traders to speculate on the markets. In this detailed HFM broker review, we will examine whether this broker is safe, legal, and trustworthy. We will also look at whether HFM is real or potentially a scam.
Visit site: https://hfm.com/✅
HFM Real or Fake? Review Is HFM broker Safe
HFM is a real, legitimate online broker that has been operating since 2017. The company is headquartered in Saint Vincent and the Grenadines and is regulated by the Financial Services Authority (FSA) there.
Being regulated by the FSA means that HFM has met certain standards around protecting client funds, maintaining adequate capital, following know-your-customer (KYC) and anti-money laundering (AML) protocols, and more. Regulation provides an important layer of oversight and protection for traders.
However, it is important to note that being regulated does not make a broker 100% safe. All trading involves risk, and even regulated brokers can potentially engage in unethical practices. But regulation goes a long way in weeding out scam brokers, and on the whole HFM appears to be operating as a legitimate brokerage.
Security of Funds
One major concern for traders using any broker is the security of deposited funds. HFM states that client funds are held in segregated accounts at top-tier banks. This means that client funds are kept separate from the broker's own operating funds. Segregated accounts provide an important layer of protection in case a broker becomes insolvent.
HFM also uses SSL encryption and other security measures to protect client data and financial information. Overall, the company seems to take the security of client funds and data seriously.
Trading Platforms
HFM offers the popular MetaTrader 4 (MT4) platform for traders. MT4 is an industry standard with advanced charting capabilities, trading tools, and the ability to execute trades easily. The MT4 platform can also support automated trading through Expert Advisors (EAs).
The company also provides a web-based platform and mobile trading apps. The availability of multiple platforms provides traders with flexibility in how they access the markets. The platforms appear stable and user-friendly based on client feedback.
Is HFM Legal and Legit?
As mentioned previously, HFM is licensed and regulated by the FSA in Saint Vincent and the Grenadines. The FSA is tasked with oversight of the country's financial services sector. Licensing from the regulator means the company must continually demonstrate compliance with local laws and regulations.
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HFM also appears to comply with know-your-customer (KYC) and anti-money laundering (AML) rules per its regulatory requirements. Traders must submit ID verification documents before being allowed to deposit and withdraw funds.
Overall, HFM gives every indication of being a legal and legitimate brokerage. Its regulatory status certainly provides a degree of oversight that helps protect traders.
HFM: Real Broker or a Scam?
There are no serious complaints or allegations online of HFM being a scam broker. The company has been in business for over 5 years and seems to have built up a reasonable reputation in that time.
Some key points that indicate HFM is likely a real, legitimate broker:
The company appears transparent in disclosing trading conditions, fees, risks, and other policies on its website. Overall there are no glaring red flags or indications that HFM is a scam broker. It seems to operate as a credible brokerage.
HFM Owner and Company Net Worth
HFM Broker is owned and operated by HFM Broker Limited which is based in Saint Vincent and the Grenadines. The company was founded in 2017.
The net worth of HFM as a company is not publicly disclosed. Most private brokerage firms do not share this information. There is also very little public data on the personal net worth of the company's owners and executives.
As an FSA regulated firm, HFM likely has to maintain a minimum level of capital reserves as part of its licensing. This provides an added layer of security to the brokerage and helps ensure they have sufficient capital to continue operations.
Can You Trust HFM as Your Broker?
HFM appears to be a trustworthy broker based on its regulatory status, client feedback, and the policies and procedures outlined on its website. Here are some of the key points that indicate the broker can likely be trusted:
So in summary, while no brokerage is perfect, HFM checks the major boxes in terms of being considered a trustworthy company based on current publicly available information. There are no glaring causes for concern from a trust perspective.
How Does HFM Broker Make Money?
HFM generates revenue through a variety of fees and charges applied to client accounts and trading:
As is standard practice in the industry, HFM can generate sizable revenue streams from the collective fees and charges applied to client accounts and trading activity.
Is HFM an International Broker?
Yes, HFM is an international broker that accepts clients globally from most countries. The company states that it has clients from over 100 different countries.
Some of the main countries and regions served include:
The HFM website and trading platforms support multiple languages including English, Spanish, French, German, Italian, Dutch, and more. This allows the company to provide service to a diverse global client base.
One downside is that HFM does not currently accept clients from the United States or Canada due to regulatory restrictions. So its international reach is limited in that regard. But overall it does cater to traders worldwide.
HFM Account Opening and Requirements
Opening an account with HFM involves the following steps:
The application and KYC verification process can usually be completed in 1-2 days in most cases. Then traders can fund their accounts and begin speculating on the markets.
The minimum deposit amount to open an account is $250. The broker offers several different account types including Micro, Standard, Zero Spread, and VIP accounts with varying features and spreads.
Overall, opening an account with HFM is a straightforward process and similar to other regulated brokers. KYC requirements are normal for the industry.
HFM Trading Instruments and Platforms
HFM provides access to trading instruments that include:
The broker supports trading through the popular MetaTrader 4 platform, web-based WebTrader, and mobile apps for Android and iOS. This allows clients to trade on desktop, web, and mobile.
The platforms are user-friendly and offer live charts, technical analysis, trading tools, and customizable layouts. The broker also supports automated trading via MQL coding on MT4.
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Overall, HFM provides a solid foundation for trading with competitive spreads and useful trading platforms. The instrument selection covers the major markets.
HFM Broker Fees and Spreads
HFM makes money from clients primarily through spreads, commissions, and financing charges. The various fees include:
Spreads: The spreads at HFM are floating, meaning they vary throughout the day based on market conditions. Spreads are competitive on major forex pairs but can be higher on other instruments. Typical EUR/USD spread is 1.5 pips.
Commissions: Certain instruments like stock CFDs incur commission fees per trade on top of spreads. Rates vary based on account type.
Swap fees: Applied for holding trades overnight. Rates vary depending on instrument. Can be positive or negative depending on direction held.
Inactivity fees: Accounts inactive for 3+ months charged $25 per month. Provides incentive to keep trading.
Withdrawal fees: Bank wire withdrawals under $300 charged $30 fee. Other methods like e-wallets are free.
On the whole, HFM's cost structure is in line with the industry average. Traders pay a markup on spreads and various other trading fees that generate revenue for the brokerage.
HFM Broker Support and Education
HFM offers customer support through live chat, email, and telephone. Support is available 24 hours a day, 5 days a week. The broker also provides an Online Support Center with FAQs.
For trader education, HFM offers a glossary of terms, ebooks, online video courses, and trading webinars. Topics cover technical and fundamental analysis, forex basics, risk management, and more.
The broker also provides market news and analysis on its website to help clients stay informed on current events impacting trading.
Overall, HFM provides decent customer service and educational resources for clients, though phone wait times can sometimes be long.
Conclusion - HFM a Trustworthy Broker?
HFM comes across as a legitimate and well-regulated online broker that caters to international clients. The company appears transparent in disclosing trading policies, fees, and the risks involved.
Being regulated by the FSA provides an important layer of oversight in terms of protecting client funds and ensuring ethical practices. HFM also utilizes secure trading platforms and seems to take privacy seriously based on account security features.
There are no major red flags or serious complaints that would indicate clients cannot trust HFM as a brokerage service. As with any broker, there are some minor complaints, but nothing outside the norm for the industry.
For traders seeking a forex and CFD broker accepting international clients, HFM represents a reasonable option to consider. As always, clients should exercise proper risk management when trading leveraged products. But HFM checks the boxes for a trustworthy broker based on available information.
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