
HFM Review
Overall, HFM formerly known as Hotforex is considered an average risk, with an overall Trust Score of 9 out of 10. HFM is regulated by HFM Investments Limited. HFM is authorized by one tier-1 regulator (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust).
- Roelof
Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
HFM Review – 23 key points quick overview:
HFM Overview
Hotforex / HFM is a low-risk CFD and forex broker for Nigerian traders with a trust score of 83% and an overall rating of 9/10 in terms of trading conditions, retail investor accounts, client fund security, and customer support.
HFM is well-regulated by several reputable entities and recently, HFM Investments Limited, a subsidiary of the brokerage company, has been given a license by the Capital Markets Authority (CMA) in Nigeria. It offers a naira trading account with low competitive spreads.
HFM is a proud MetaTrader broker, offering both MetaTrader 4 and MetaTrader 5 trading platforms. HFM’s retail investor accounts are suitable for both novice and expert traders, as well as professional traders looking to get a competitive advantage in their trading.
Each retail trading account has its own set of features and trading conditions that cater to traders with varying trading styles, trading abilities, and investment goals. Over the last decade, HFM has earned over 55 forex industry awards and registered over 2.5 million active accounts.
This Hotforex HFM review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
Distribution of Traders
The distribution of traders with HFM is as follows:
➡️️ South Africa – 94.8%
➡️️ Kenya – 2.54%
➡️️ United States – 0.77%
➡️️ Morocco – 0.74%
➡️️ Netherlands – 0.27%
Popularity among traders who choose HFM
🥇 While HFM does not dominate the market in Nigeria, the broker is still part of the Top 20 forex and CFD brokers for Nigerian traders.
HFM at Glance:
🏛️ Headquartered | Cyprus |
🏛️ Nigerian Based Office | Yes, Abuja |
👍 Accepts Nigerian Traders? | Yes |
📅 Year Founded | 2010 |
📱 Nigerian Office Contact Number | +234 706 370 5519 |
⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions |
🔎 License Number | South Africa (46632) Cyprus (183/12) Dubai (F004885) Seychelles (Reg 8419176-1), FSA (SD015) United Kingdom (801701) Mauritius (FSC C110008214, Company Reg 094286/GBL) |
⚖️ CBN Regulation | None |
✴️ Regional Restrictions | The United States, Canada, Sudan, North Korea, and Syria |
☪️ Islamic Account | Yes |
📈 Demo Account | Yes |
📈 Retail Investor Accounts | 5 |
📊 Offers a Nigerian Account? | No, ZAR and USD only |
📊 Dedicated Nigerian Account Manager? | None indicated |
📈 Maximum Leverage | 1:2000 |
📈 Leverage Restrictions for Nigeria? | No |
💳 Minimum Deposit (₦) | 0 Nigerian Naira |
💳 Nigerian Naira Deposits Allowed? | No, ZAR and USD only |
💰 Active Nigerian Trader Stats | 1.3 million |
💸 Active Nigerian-based HFM customers | Unknown |
💰 Nigeria Daily Forex Turnover | $1.25 million+ |
💳 Deposit and Withdrawal Options | Bank Transfers, Credit Cards, Debit Cards, Electronic Payment Providers |
💰 Segregated Accounts with Nigerian Banks? | No |
💻 Trading Platforms | MetaTrader 4, MetaTrader 5 |
💰 Tradable Assets | Forex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
🌐 Offers USD/NGN currency pair? | No |
🌐 USD/NGN Average Spread | No |
📈 Offers Nigerian Stocks and CFDs | No |
👨💼 Languages supported on Website | English, Portuguese, Spanish |
👥 Customer Support Languages | Multilingual |
👥 Customer Service Hours | 24/5 |
👥 Nigerian-based customer support? | No |
💰 Bonuses and Promotions for Nigerians | Yes |
✴️Education for Nigerian beginners | Yes |
📊 Proprietary trading software | No |
💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
✔️ Is HFM a safe broker for Nigerians? | Yes |
✔️ Rating for HFM Nigeria | 9/10 |
✔️ Trust score for HFM Nigeria | 83% |
👉 Open account | 👉 Open Account |
Regulation and Safety of Funds
The following firms make up the HFM Group, which operates under the HFM trading brand:
➡️ HFM SA (PTY) Limited is registered in South Africa (2015/341406/07) and regulated by the Financial Sector Conduct Authority (FSCA) under FSP 46632.
➡️ HFM (Europe) Limited is based in Cyprus and registered under HE 277582 with regulations through the Cyprus Securities and Exchange Commission (CySEC) under 183/12. In addition, HF Markets Fintech Services Limited is registered in Cyprus under HE 348222.
➡️ HFM (DIFC) Ltd is registered in Dubai and is regulated by the Dubai Financial Services Authority (DFSA) under F004885.
➡️ HFM (SV) Limited is registered in Saint Vincent and the Grenadines under 22747 IBC 2015.
➡️ HFM (Seychelles) Limited is registered in Seychelles under 8149176-1 with regulation and authorisation through the Financial Service Authority (FSA) under SD015.
➡️ HFM (UK) Ltd is both regulated and authorized by the reputable Financial Conduct Authority (FCA) under 801701.
➡️ HFM Limited is registered in Mauritius with a Category 1 Global Business no C110008214, and Company registration number 094286/GBL, with regulation and authorization through the Financial Services Commission (FSC) in Mauritius.
➡️ HFM Investments Limited is regulated by the Capital Markets Authority (CMA) under license number 155. With this regulation, HFM can offer non-dealing online forex exchange services to Kenyan investors.
Segregated accounts with top-tier financial institutions are maintained by HFM and HF Markets. In addition, the broker is covered up to €5,00,000 in Civil Liability insurance. This program protects traders against the risk of financial loss because of mistakes, carelessness, omissions, and other forms of fraud.
HFM provides a risk management mechanism known as negative balance protection, which is available to all retail trading accounts. When margin calls and stop-outs fail, the customer’s account does not have to be repaid to the broker because of HFM’s negative balance protection. This protection applies regardless of market volatility.
Min Deposit
USD 0 / 0 NGN
Regulators
FSCA, CMA, CySEC, DFSA, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Account Types and Features
With HFM, traders may choose from a variety of trading accounts that are tailored to their specific needs and preferences. HFM offers the following types of accounts to retail investors:
➡️ Premium Account
➡️ Pro Account
➡️ Pro Plus Account
➡️ Zero Account
➡️ Cent Account
Also available is a demo account and an Islamic Account option for Muslim traders on certain account types at HFM in addition to these actual trading accounts.
Live Trading Accounts
Premium Account
👉 Experienced retail traders would benefit from this account type. With a 60 standard lot limit for a single transaction, this account’s position size flexibility is one of its key features.
💳 Minimum Deposit (₦) | 0 |
📈 Spreads | 1 pip EUR/USD |
💻 Trading Platform | MetaTrader 4, MetaTrader 5 |
💰 Trading Instruments | All |
✴️ Execution | Market Execution |
📈 Maximum Leverage Ratio | 1:2000 |
📈 Minimum Trade Size | 0.01 lot |
📈 Maximum Trade Size | 60 Standard lots per position |
📊 Maximum Open Orders | 300 |
🌐 Margin Call (%) | 50 |
🌐 Stop-Out (%) | 20 |
💳 Account Base Currency | USD, ZAR |
👨💼 Personal Account Manager | Yes |
⚖️ Commission Charges | None |
🔎 Bonuses Offered | Flexible bonus offering |
Pro Account
👉 SPs and Strategy Followers alike may benefit from this sort of account. SPs can set up an inventory of followers on this account type, which would then enable them to trade and earn a Performance Fee of up to 50%. Users may deposit monies and have their transactions immediately copied from this account.
💳 Minimum Deposit (₦) | $100 |
📈 Spreads | 1 pip EUR/USD |
💻 Trading Platform | MetaTrader 4 |
💰 Trading Instruments | Forex, Spot Indices, Gold, Spot Energies, BTC/USD, BTC/EUR |
✴️ Execution | Market Execution |
📈 Maximum Leverage Ratio | 1:2000 |
📈 Minimum Trade Size | 0.01 lot |
📈 Maximum Trade Size | 60 Standard lots per position |
📊 Maximum Open Orders | 300 |
🌐 Margin Call (%) | 50 |
🌐 Stop-Out (%) | 20 |
💳 Account Base Currency | USD |
👨💼 Personal Account Manager | Yes |
⚖️ Commission Charges | None |
🔎 Bonuses Offered | Flexible bonus offering |
👥 Maximum followers allowed per SP | 200 |
Pro Plus Account
👉 With even lower spreads and leverage up to 1:2000, the swap-free Pro Plus account is developed to suit the needs of experienced traders who demand the best in terms of trading conditions and perks.
💳 Minimum Deposit (₦) | ₦200,000 / $250 |
📈 Spreads | From 0.2 pips |
💻 Trading Platform | MetaTrader 4, MetaTrader 5, HFM APP |
💰 Trading Instruments | Forex, Spot Indices, Gold, Spot Energies, BTC/USD, BTC/EUR |
✴️ Execution | Market Execution |
📈 Maximum Leverage Ratio | 1:2000 |
📈 Minimum Trade Size | 0.01 lot |
📈 Maximum Trade Size | 60 Standard lots per position |
📊 Maximum Open Orders | 500 |
🌐 Margin Call (%) | 50 |
🌐 Stop-Out (%) | 20 |
💳 Account Base Currency | USD, NGN |
👨💼 Personal Account Manager | Yes |
⚖️ Commission Charges | None |
🔎 Bonuses Offered | Flexible bonus offering |
Zero Account
👉 Active traders, high-frequency traders, day traders like scalpers, and those who employ Expert Advisors will all benefit from this account’s cheap trading costs and low commissions. No hidden markups are applied to the spreads in this account, which is an additional benefit for Nigerian traders.
💳 Minimum Deposit (₦) | 0 |
📈 Spreads | 0.0 pips on Forex Major currency pairs |
💻 Trading Platform | MetaTrader 4, MetaTrader 5 |
💰 Trading Instruments | All |
✴️ Execution | Market Execution |
📈 Maximum Leverage Ratio | 1:2000 |
📈 Minimum Trade Size | 0.01 lot |
📈 Maximum Trade Size | 60 Standard lots per position |
📊 Maximum Open Orders | 500 |
🌐 Margin Call (%) | 50 |
🌐 Stop-Out (%) | 20 |
💳 Account Base Currency | USD, ZAR |
👨💼 Personal Account Manager | Yes |
⚖️ Commission Charges | From between $3 for Major Forex Pairs and $4 on other instruments per lot traded |
🔎 Bonuses Offered | None |
Cent Account
👉 With this account type, investors may use algorithmic trading and automated trading. Any kind of trader may utilize this account to subscribe to trading signals, whether they are free or paid. The HFM Nigeria MetaTrader 4 platform’s MQL5 community provides these trading signals.
💳 Minimum Deposit (₦) | 0 |
📈 Spreads | 0.0 pips on Forex Major currency pairs |
💻 Trading Platform | MetaTrader 4, MetaTrader 5 |
💰 Trading Instruments | All |
✴️ Execution | Market Execution |
📈 Maximum Leverage Ratio | 1:2000 |
📈 Minimum Trade Size | 0.01 lot |
📈 Maximum Trade Size | 60 Standard lots per position |
📊 Maximum Open Orders | 500 |
🌐 Margin Call (%) | 50 |
🌐 Stop-Out (%) | 20 |
💳 Account Base Currency | USD, ZAR |
👨💼 Personal Account Manager | Yes |
⚖️ Commission Charges | From between $3 for Major Forex Pairs and $4 on other instruments per lot traded |
🔎 Bonuses Offered | None |
Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and HFM offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Traders in Nigeria may open a demo account on the Micro, Premium, Auto, and HFcopy accounts with HFM.
Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
Because it complies with Sharia law and Islamic values, the HFM Islamic Account does not charge interest to Muslim traders who have open positions overnight. Traders can convert any of HFM’s active trading accounts to an Islamic Account, allowing them to trade halal without limitations.
Min Deposit
USD 0 / 0 NGN
Regulators
FSCA, CMA, CySEC, DFSA, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Account Registration
Nigerian traders can visit HFM’ official website and pick the option for account registration from the homepage. Traders are required to provide their personal, financial, work, and trading information using an online application form.
As part of the Know Your Customer (KYC) procedure, traders must validate their email address and present documentation proving their identity and residence address before their account may be activated.
Traders will be able to deposit money and begin trading as soon as their application has been completed and authorized.
How to Register An Account
👉 Step 1 – Go to the Official HFM Website
➡️ Go to HFM’s Website and click on “Open Live Account”.
👉 Step 2 – Fill Out Your Details
➡️ Fill out your personal details such as your name, surname, country of residence and email address.
👉 Step 3 – Click on “Register”
➡️ Click on the green “Register” button to register your account.
HFM Vs Axiory Vs AvaTrade – Broker Comparison
Axiory | AvaTrade | HFM | |
⚖️ Regulation | FSC Belize, FSC Mauritius, FCA | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions |
📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • cTrader • Axiory CopyTrade | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade | • MetaTrader 4 • MetaTrader 5 • HFM Trading App |
💰 Withdrawal Fee | Yes | No | No |
📈 Demo Account | Yes | Yes | Yes |
📊 Min Deposit | 4,100 NGN | 41,500 NGN | 0 NGN |
💰 Leverage | 1:777 Maximum | 1:400 | 1:2000 |
💳 Spread | From 0.13 | Fixed, from 0.9 pips | 0.0 pips |
✴️ Commissions | From $0.04 | None | None |
💳 Margin Call/Stop-Out | 50%/20% | 25%/10% | 40%/10%, 50%/20% |
📊 Order Execution | Market | Instant | Market |
💰 No-Deposit Bonus | None | No | No |
💰 Cent Accounts | No | No | No |
📊 Account Types | • Nano Account • Standard Account • Max Account • Tera Account • Alpha Account | • Standard Live Account • Professional Account Option | • Premium Account • Pro Account • Pro Plus Account • Zero Account • Cent Account |
⚖️ CBN Regulation | None | No | No |
💵 NGN Deposits | No | No | Yes |
💳 Nigerian Naira Account | No | No | Yes |
👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
🛍 Retail Investor Accounts | 5 | 1 | 5 |
☪️ Islamic Account | Yes | Yes | Yes |
Trading Platforms
👉 HFM offers its Kenyan traders a choice between the following trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ HFM Trading App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ HFM Trading App
👉 HFM’s MultiTerminal platform makes it possible to manage multiple accounts at the same time from a single screen. Nigerian traders can expect the same familiar trading experience that traders have come to expect from the MT4 platform, but with even more power and capability.
👉 No matter what trading style or asset class a HFM customer prefers, the MetaTrader 5 platform has been customized to meet their specific demands, and this has resulted in the HFM MT5.
👉 More features, sophisticated trading tools, improved support, and ultimate control over the trader’s transactions are all provided by this powerful yet user-friendly platform. Through MetaTrader 5, Nigerian traders invest time and money wisely with one of the most innovative and widely-used trading platforms in the world.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ HFM Trading App
👉 Trading can be carried out using the MetaTrader 4 WebTerminal from any web browser, without the need for extra software to be downloaded. With the ability to trade on both Live and Demo accounts, traders can place pending and market orders, as well as monitor their entire trading history.
👉 MetaTrader 5 WebTerminal trading does not need the installation of any other software. All the features of the desktop platform are available on the WebTerminal, which can be launched from any computer and any browser.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ HFM Trading App
👉 To make it easy for traders to trade on the go, the HFM Android and iOS MT4 combine advanced charting with trading tools and other advanced features. Traders can access financial markets, perform technical analysis, track movements, and place orders from anywhere in the globe using HFM’s full-function trading interface.
👉 For the convenience of HFM clients, HFM offers a MT4 Android, iPad, and iPhone Trader that can be downloaded and used immediately.
👉 To provide traders with complete access to the trading account and the ideal trading environment, HFM’s software was particularly designed to utilize several sophisticated capabilities of many mobile device types.
👉 MetaTrader 5 for HFM features iOS and Android-native alternatives for all sorts of devices, allowing traders to feel in control of their HFM trading accounts and ready to delve into the markets no matter where they are. HFM Android and iOS is the best choice if Nigerian traders are looking for a mobile trading platform that is both convenient and secure.
Range of Markets
👉 HFM offers a wide range of markets spread across these tradable instruments and classes:
➡️ Forex
➡️ Precious Metals
➡️ Energies
➡️ Indices
➡️ Shares
➡️ Commodities
➡️ Cryptocurrencies
➡️ Bonds
➡️ Stocks DMA
➡️ ETFs
Broker Comparison for Range of Markets
InstaForex | HFM | IC Markets | |
⚖️ Regulation | British Virgin Islands Financial Services Commission (BVI FSC) | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions | ASIC, CySEC, FSA, SCB |
📱 Trading Platform | MetaTrader 4 MetaTrader 5 WebIFX InstaForex Multi-Terminal InstaForex WebTrader InstaTick Trader (mobile) | MetaTrader 4 MetaTrader 5 HFM Trading App | MetaTrader 4 MetaTrader 5 cTrader |
💰 Withdrawal Fee | Yes | No | No |
📊 Demo Account | Yes | Yes | Yes |
📈 Minimum Deposit | 400 NGN | 0 NGN | 83,000 NGN ($200) |
📈 Leverage | 1:1000 | 1:2000 | 1:500 |
📊 Spread | 0.0 pips | 0.0 pips | 0.0 pips |
💰 Commissions | 0.03% to 0.07% | None | From $3 to $3.5 |
✴️ Margin Call/Stop-Out | 25%/10% | 40%/10%, 50%/20% | Stop-Out 50% |
✴️ Order Execution | Instant | Market | Market |
💳 No-Deposit Bonus | Yes | No | No |
📊 Cent Accounts | Yes | Yes | No |
📈 Account Types | Insta.Standard Trading Account Insta.Eurica Trading Account Cent.Standard Trading Account Cent.Eurica Trading Account | • Premium Account • Pro Account • Pro Plus Account • Zero Account • Cent Account | cTrader Account Raw Spread Account Standard Account |
⚖️ CBN Regulation | No | No | No |
💳 NGN Deposits | Yes | No | No |
📊 Nigerian Naira Account | No | No | No |
👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
📊 Retail Investor Accounts | 4 | 5 | 3 |
☪️ Islamic Account | Yes | Yes | Yes |
Min Deposit
USD 0 / 0 NGN
Regulators
FSCA, CMA, CySEC, DFSA, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Trading and Non-Trading Fees
Spreads
👉 When it comes to trading with HFM’s, traders may expect to pay a variety of spreads depending on their account type, the market circumstances, and the financial instrument they choose to trade. The following are the average spreads for each account type:
➡️ Micro Account – from 1 pip
➡️ Premium Account – from 1 pip
➡️ HFcopy Account – from 1 pip
➡️ Zero Spread Account – from 0.0 pips
➡️ Auto Account – from 1 pip
Commissions
👉 When compared to other forex and CFD brokers, HFM’s commission fees are exceptionally cheap. Traders in Nigeria should anticipate paying between $3 and $4 in charges for FX majors and other financial products.
Overnight Fees, Rollovers, or Swaps
👉 Nigerian traders can anticipate the following overnight fees:
➡️ Forex, commodities, and individual stock swaps are updated each day based on market circumstances and the rates that price providers get. A total of three swaps are applied to all positions on Wednesdays as well.
➡️ Precious Metals – Depending on market circumstances and the prices provided by price suppliers, precious metal swaps are changed daily. For XAG and XAU, the swap is indicated in 1 pip per lot, which traders should be aware of on Wednesdays.
➡️ Energies – Market circumstances and rates acquired by price suppliers are taken into consideration daily when adjusting energy swaps. Traders should be aware that USOil and UKOil swaps are given in US Dollar values on Wednesdays when there are triple swaps in effect.
➡️ For indices, DMA stocks, ETFs, and Cryptocurrencies – Swaps are changed daily according to market circumstances and the rates that are acquired by price providers. This applies to all positions, and every Friday there is a triple swap.
How to Deposit Funds with HFM
To deposit funds with HFM, Nigerian traders can log into the myHF area, select the option to deposit and select their deposit method. Traders must provide the amount they wish to deposit, the deposit currency, and continue by completing any additional fields as required by their payment provider.
How to Withdraw Funds with HFM
To withdraw funds from a HFM account, traders must log into their myHF area, click on “Fund Withdrawal,” choose a payment method, enter the withdrawal amount, and proceed with any additional steps as required by the payment provider.
Traders should expect their withdrawal requests to be processed the same business day, between 7 am and 5 pm server time, if they submit them before 10 am server time. The next business day, between 7 am and 5 pm server time, shall be used to process withdrawals filed after 10 am server time.
HFM Education and Research
HFM offers the following Educational Materials:
➡️ Hot Forex Educational Videos
➡️ Training Course Videos
➡️ Forex Education
➡️ eCourses
➡️ Live Webinars
➡️ Events
➡️ Podcasts
HFM offers Kenyan traders the following Research and Trading Tools:
➡️ HF App
➡️ VPS Hosting Services
➡️ Premium Trader Tools
➡️ AutoChartist Tools
➡️ Trading Calculators
➡️ myHF Client Area
➡️ Advanced Insights
➡️ Economic Calendar
➡️ Traders’ Board
➡️ Auto Trading through MQL5
➡️ Forex News presented by FXstreet
➡️ One-Click Trading
➡️ Events
➡️ HFM Exclusive Analysis
How To Minimize Risk While Trading?
1. Use Stop Losses
👉 A stop loss is a trading technique that takes you out of losing trades at a predetermined level in order to limit your losses. Utilize stop losses to ensure a 1:1 risk-reward ratio and above in all your trades in order to limit losses and maximize profits on each trade. For example, if you’re setting your stop loss at 50 pips below your entry point, set your take profit at least 50 pips above your entry point.
👉 A 1:2 risk-reward ratio and above will ensure that you remain profitable even if the majority of your trades are losing trades. Using a 1:2 risk-reward ratio means that you should place your stop loss at 100 pips if you have a profit target of 200 pips and so on.
👉 If you are a more aggressive trader, you can use a 1:3 risk-reward ratio, where you risk 100 pips for a profit target of 300 pips.
2. Use Proper Lot Sizes
👉 Trading using proper lot sizes is crucial to your success as a trader. That’s because the lot size determines the value of each point of the currency pair you are trading. A standard lot typically refers to 100,000 units of the base currency you are trading. Therefore, trading a standard lot of the EURUSD currency pair puts the value of each point at USD 100.
👉 The lot sizes you trade should be proportionate to the amount you are willing to risk on each trade, which is directly related to the size of your account and your risk appetite.
3. Control Your Losses
👉 You should only risk 2% or less of your trading account on each trade. This will ensure that you can survive any losing streak while minimizing the drawdown on your trading account.
👉 Remember: losses in forex trading are not linear. A 50% loss would require a 100% gain in order to recover your original trading account level.
4. Use Leverage Carefully
👉 Most forex brokers offer to trade with leverage, and with HFM traders can enjoy up to 1:Unlimited leverage. While trading with leverage is one of the great advantages of trading forex, it can also increase the risk of losses if used incorrectly. Leverage works as a ratio, meaning that if you trade with USD 10 at a leverage of 1:50 your market investment will be USD 500. This means that, if your investment moves in a favourable direction, your profits would be 50x bigger than they would have been without leverage. However, this also means that your losses if the currency moves in an unfavourable direction would be 50x greater as well. Traders are therefore reminded to apply leverage with care.
5. Choose The Time Of Day That You Trade
👉 Most traders tend to ignore the impact of the time of day that they trade. However, traders who are active during periods of less volatility tend to be more profitable than traders who trade during periods of high volatility.
👉 The high volatility periods for different currency pairs vary, but can generally be summarized as the opening hours of the Asian sessions, the London/European sessions, and the New York/American sessions.
👉 Experienced traders who are trading European currency pairs, such as EURUSD and GBPUSD, typically trade during off hours from 7PM to 11AM GMT. However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping.
6. Buy The Rumor, Sell The News
👉 Many traders like to stay abreast of news that affects the forex market, but this is very hard to do given that it is near-impossible to accurately predict what will happen at any given time across the globe. However, experienced traders typically keep abreast of economic releases from different countries, which generally have an impact on many currency pairs.
👉 In most cases, markets typically discount the news based on investors’ expectations, which means that by the time the news is released, the big moves in the affected currency pairs would have already taken place. Therefore, it is important to make trades related to major news events way before the actual news is released.
All About HFM’ Rebate System
What is a Rebate?
👉 Forex rebates reduce the spread or transaction cost paid by a trader on every trade, whether it’s a win or a loss. Rebate payments are offered in 3 forms including spread and commission reductions, daily trading account deposits, and monthly cash payments via bank wire, Paypal, Skrill and others.
Which HFM rebate program is the best?
Are HFM rebates worth the effort?
👉 The biggest obstacle to any forex trader is the cost of the transaction. It may seem small, but in fact, it’s the biggest factor that gives the trader less than a 50% chance of winning any particular trade. This seemingly small cost can be devastating when compounded, and in the long term if the trader relies on luck alone they are sure to lose on their investment continually. HFM rebates reduce the cost of the transaction and increase a trader’s probability of winning. Still, a trader must rely on their trading skill to close the remainder of the gap.
Min Deposit
USD 0 / 0 NGN
Regulators
FSCA, CMA, CySEC, DFSA, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
HFM Affiliate Program
Customers and affiliates alike can rely on the integrity and transparency of award-winning broker HFM.
The HFM Affiliates affiliate program is open to anyone from all around the world, regardless of where they live. HFM offers generous reward programs and a multi-tier affiliate monitoring system to keep affiliates around for the long term.
As an added benefit, affiliates who join the HFM Affiliate program will have immediate access to our dedicated Affiliates Department for any questions or issues that may arise. Affiliates of HFM may benefit from the following features and benefits:
➡️ Revenue-share up to 60% or $15 per lot, determined by the net spreads and trading volumes of referred clients.
➡️ Commissions that can be earned through the refer-an-affiliate
➡️ Auto-rebate system
➡️ Multi-tiered structure
➡️ MetaTrader 4 and 5 reporting
➡️ Affiliates get full statistics, comprehensive client activity tracking, and more
➡️ The absence of set-up fees
➡️ Access to a dedicated affiliate account manager
➡️ Fast and frequent payments
➡️ Unlimited commissions
➡️ A wide variety of marketing tools
Bonuses and Promotions
HFM offers Nigerian traders the following bonuses and promotions:
➡️ Free Funding
➡️ Contests including Traders Awards, HFM Gadget Giveaway, Demo Contest, Trading Contests, Currency Wars Contest
➡️ Loyalty Program
➡️ 50% Welcome Bonus for Micro Accounts
➡️ 100% Supercharged Bonus applied to a range of accounts
➡️ 30% Rescue Bonus
➡️ 100% Credit Bonus
HFM Social Responsibility
👉 When it comes to helping individuals in need, the HF Markets Group has a deep-seated belief that it must do so. The HFM Group of Companies’ management and employees have a long history of giving back to the communities in which they operate.
👉 Some initiatives of HFM include:
➡️ The World Health Organization’s campaign against the Covid-19 epidemic previously received large donations from HFM, which is known for its corporate social responsibility. HFM and its team worked tirelessly across the globe to protect and improve the health of people, leading and coordinating efforts to reduce the effects of the pandemic in vulnerable communities.
➡️ An international non-profit called The Rainforest Alliance received a charity gift from HFM Group in support of indigenous efforts to control the fires that have ravaged the Amazon rainforest, which is commonly referred to as the “lungs of the Earth.”
➡️ HFM donated a major gift to the Larnaca Lions Club, the local chapter of the Lions Club International, as a way of showing its support for the community. Donations to the well-known club, which aims to empower volunteers to serve their communities, meet humanitarian needs, encourage peace, and promote international understanding, were given by HFM.
➡️ The HFM team has brightened the spirits of a few young people and assisted them in making the most of the holiday season in 2017. Charity and healthcare institutions in the company’s hometown of Larnaca received gifts and toys in abundance.
Verdict on HFM
Traders looking for low-cost trading platforms with minimal minimum account balance restrictions are often confronted with restricted functionality and investor data. With its reasonable price and highly professional trading platform, HFM is an exception to this norm.
Both new and experienced forex traders will profit from the platform’s vast variety of accounts and asset classes, as well as the in-depth information and analytical services tailored to every sort of investor. HFM enables traders of varying skill levels to invest in a variety of CFD and spot assets using the proven MT4 and MT5 platforms.
HFM Current Popularity Trend
👉 According to Google Trends, HFM has increased in Google searches in Nigeria in the past month.
HFM Pros and Cons
✔️ Pros | ❌ Cons |
Well-regulated in several global regions | There are no variable spread accounts |
Offers some of the lowest spreads in the forex market on major currency pairs | There is a limited selection of funding options and withdrawal methods. |
There are several account types to choose from | |
HFM accommodates all types of traders despite their trading strategies | |
Low minimum deposit requirement | |
Beginner traders and professional investors are both welcome | |
Educational tools, advanced trading tools, and several other comprehensive solutions are offered | |
There is a comprehensive market analysis offered | |
Technical analysis and fundamental analysis offered |
Frequently Asked Questions
Is HFM regulated and by whom?
Yes, HFM is regulated by FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA.
Does HFM offer leverage and what is the maximum ratio offered?
Yes, HFM offers maximum leverage up to 1:2000.
Does HFM offer a Demo Account?
Yes, HFM offers a demo account.
What is the overall rating for HFM out of 10?
9/10.
Is HFM suitable for beginner and professional traders?
Yes, HFM is an ideal broker that can be used by beginner and professional traders.