In this video we will review HF Markets Broker, formerly known as HotForex.
Broker Details
HF Markets is a global CFD broker offering a relatively wide range of trading products including Forex, commodities, indices, shares, bonds, and ETFs
The broker was founded in 2012, and for quite some time it was known as HotForex. HF Markets is regulated under the Financial Conduct Authority (FCA)
The Dubai Financial Services Authority (DIFC), The Cyprus Securities and Exchange Commision ( CySEC), The Financial Sector Conduct Authority (FSCA) and last the Financial Services Authority (Seychelles)
Assets&Markets
Users who hold accounts or thinking to open an account in HF Markets Forex Broker can trade more than 1000 assets across 9 asset classes, but to be more precise those are :
More than 50 Currency Pairs, with spread starting at 0.1 pip and leverage up to 30:1
Metals, such as Gold, Silver and Palladium with spread to start at 0.03 for silver but to be 13.4 for Palladium and leverages to be up to 20:1
Energies, such as Crude and Brent oil, with typical spread of 0.05 and leverage up to 10:1
Derivatives on shares of top performing international companies such as Amazon, apple and BP with spreads to vary and leverages up to 5:1
Indices , such as USA 500, UK100 and GER 40 with spreads starting at 0.2 and leverages to go up to 20:1
3 Bonds, Euro Bond, UK Gilt and US 10 Year Treasury with leverage up to 5:1
5 Commodities, Cocoa, Copper, Coffee, Cotton and Sugar with leverage of 10:1
More than 900 Stocks, in a Direct market access, such as apple , amazon and tesla, with leverages of up to 5:1
And last but certainly not least more than 30 ETFs with leverages of 5:1 .
Account Types
HFMarkets Offers three types of account, those are the Premium, the zero spread and the Premium pro.
Comparing the three of them we will see that premium requires only 100$ deposit while the zero spread needs a 200 minimum deposit and as expected the premium pro asks for a higher deposit, that of 500$.
The Leverage for the first two accounts depends on the product but the pro account the max leverage is that of 400:1.
Premium and pro have spreads starting from 1 pip and of course the zero spread has no spread, but it does bare commissions.
Checking further we notice a few more differences on the margin call and stop out level in which the premium account is lower.
To note here that all accounts are supported by all their trading platforms.
To create an account on HF Markets, click the link below the video or watch our dedicated video on how to create and trade with HF Markets account.
Trading Platforms
HF Markets offers the two most known and used forex trading platforms, the Metatrader 4 and Metatrader 5. Those platforms are used by the majority of the traders and are considered the top ones in the market.
If you are not familiar with the platforms we have created dedicated videos for MT4 and MT5 for both desktop and mobile versions . You can find the videos on your screen or in the description below.
Funding Options
HF Markets offers a decent amount of funding options, Those are :
Wire transfer, with minimum deposit to be set at 250$ and processing time to be from 2 to 7 business days.
Credit and debit cards such as Visa and mastercard with minimum to be 50$ and processing time to be up to 10 min,
And 3 ewallets, Netteler , Skrill and sofort. For all three the minimum deposit is 50$ but for Netteler and Skrill the processing time is 10 min while for sofort can be up to 2 business days.
To note here that no deposit method bairs any fees.
When it comes to withdrawal, the same options apply with the exception of sofort which has not been offered as a withdrawal option.
The minimum to withdraw for credits and e wallets is $ but for wire transfer is 100%. There are no fees however for the wiring transfer option the sending, correspondent and receiving bank may charge according to their own fee structure.
Also keep in mind that for debit cards they cannot process withdrawal amounts that exceed the initial deposit or sum of all debit card deposits
Customer Support
Users can contact customer service via email, phone, and live chat.
The services are available 24 hours a day for 5 days of the week.
Summary
So let’s have a look at the pros and cons of HF Markets Broker.
Starting with the pros:
It is a well Regulated Broker
Been around for more than 10 years
Offers more than 1000 assets to trade with
3 Types of Account
And last MT4 and MT5 Platforms are supported
On the cons now:
US Clients not allowed
Cryptocurrencies are not offered as a tradable asset
There is not native platform
Less Funding options compared to the competition
And last Customer Support despite the fact that is solid is only available for 5 days a week
Overall HFMarekts is a well regulated forex broker and has won multiple industry awards.
Thank you for watching HF Markets review, we really hope that helped you decide if this is the right broker for you. You can subscribe on our YouTube channel for more videos!
Also watch Top 5 Factors That Move The Forex Market, 5 Tips To Become A Successful Forex Trader, Top 5 Best Forex Brokers For 2022
