HF Markets

Admin July 14, 2024

Summary

HFM (HF Markets)is CFD broker founded in 2010 as Hot Forex and currently regulated by the DFSA, FSCA, CMA, FCA, CySEC, and others. It offers 50+ currency pairs, cryptocurrencies, and CFD access to over 3,000 securities including precious metals, commodities, stocks, bonds, and stock indexes.

Regulated

Meta Trading Softwares Used

MT4 and MT5

Overall Rating

3.5/5

Reviews

fxman
1/5

Very poor support and poor response

Daniel Hirschböck
1/5

closed all my accounts and didnt pay me out for all people in my downline.

Rafiktry
2.3/5

Today i deposit fund 100 usd via Perfect money.. but fund not loaded my account.. i live chat person.. he asked proof my account.. I send it two times.. but fund not loaded my account.. and no more action.. hotforex took my fund..Beware of hotforex..

Abdelrahman Abuhweidi Gaza
3/5

HotForex closed my account without prior notice, because as they told me that I traded on BTCEUR with its erratic prices, and the question is how do I know that the price is wrong or correct that I am trading on an electronic platform when you give me the approval, this is not my fault, but their problem is that if I took the approval for a price, that is True . Let us go back to their conditions in the company. This is correct. They can deduct the profits resulting from the wrong prices But here they closed the account and took all the money, as there was in my wallet about $ 5700 and there is in the platform $ 3243 the total is about $ 9000 The account was closed without recovering any amount and any account. myHF 171532

Den Sinas Batangas
1.2/5

its a retail trader friendly if i may say, good spreads on eurusd and gbp pairs. good number of pairs to choose from, deposit and withdrawals are easy, havent had any trouble in my 1 year trading live with hotforex, I made a good sum on btcusd as of late and was able to withdraw with no problems, its a good start for 2021.

_sk21
2/5

I have requested to withdraw an amount of about 480usd on 2 occasions and did not request a currency change to my local currency and only received 478usd in my local currency. They did not state that a currency change is going to be made or that there are any withdrawal fees while I am withdrawing. I tried to contact "live" support and this issue is pending at the moment

yrkaus Ukraine
3.1/5

HF Markets are unprofessional who will block you immediately as soon as you earn money there. Everything I`m writing now is confirmed by screenshots: see below*. On October 26, 2023, I registered an account with the Hotforex company, verification took them 2 days, the KYC department asked additional questions, one of them was about VPS: I explained why I use VPS and additionally clarified whether the use of VPS is not prohibited at the HFM company, in response my account has been verified. In Hotforex I topped up my account 4 times for a total amount of 35,800 USD; I managed to open 81 trades, with a total trading volume of 423.6 lots, 66 trades were profitable, 15 trades were loss. I was trading more than 2 months, during this time I requested additional trading accounts which were opened manually by HFM after they has checked me and my trades once again. Nothing suspicious was ever revealed. The company was completely satisfied with me as a client and my trading strategy. My trading was absolutely native: a number of my trades were closed in the red, and many of my trades were in a drawdown, sometimes quite large, which could lead to a stopout easily and the loss of all funds for account. I don't think such trading can ever be called “break-even”. Most unprofitable trade: -6,277.5 USD Maximum profit per transaction 10,759.47 USD There were only 2 positions less than 27 minutes (only one of them less than a minute). The longest position is 12 hours 10 minutes. It is important to note that until the moment I decided to withdraw all the money from HFM, since I no longer liked the quality of execution, before that HFM always processed all withdrawals on time: total I WD 7 times for a total amount of 54,995 USD. Every time I made a withdrawal, I went through checks and the company was happy with everything. On January 5, when I submitted 4 withdrawal requests for a total amount of 31,117 USD (confirmation in the screenshots*: HotForex has a limit on the size of one request, so I have to create several), I received an email that the Company has canceled any profits - refer to section 14.2 of the Terms of Business. “Please be informed that HF Markets (SV) Ltd (herein “the Company”) has decided to terminate its business relationship with you in accordance with Clause 36.2. of the Account Opening” (full text is in screenshot*). Thus, the HFX company decided to take 31,117 USD that was declared for withdrawal PLUS 18,380 USD that remained in my account. In total, the Company took 49,497 USD from me, sending me general clauses of its regulations, without providing any explanation. Moreover, they dared to block my access to my personal area (!!!!) so that in principle I would not have any access to information that I have the right to use by law. This is completely unacceptable and violates all human rights. In response, I sent them an email explaining that they were wrong: see screenshot*. Well, then they simply accused me of using (attention!) VPS, which suddenly became prohibited (remember that they drew attention to the fact that I specifically asked whether the use of VPS was allowed), see screenshot* And they began to threaten me that if it became public, they would file a complaint against me with the police. I consider it my inviolable right to fight for my rights, as well as for my means. There was no violation of the agreement, nor was there any “break-even” trading on my part. This is confirmed by the statement. The use of VPS is explained by the fact that different copies of virtual machines were used. And this is not prohibited by company regulations. I can work on the virtual machine that is convenient for me at a particular time. Low ping to the company’s trading server also cannot be a violation, since the developer of the MetaTrader4 trading platform, MetaQuotes, offers VPS services with low ping. Please note that the MT4 trade server logs show half the client’s ping to the trade server (one-way delay). That is, the actual ping of my terminal to the HotForex trading server is twice as large as what they sent. What third-party trading solutions are we talking about in this case? On the contrary, such a company statement about an anomaly indicates the incompetence of employees and is more like a response out of despair. I demand that the company return my profits immediately! I advise all clients and partners to find a more reliable and larger broker! Anyone who earns money should immediately withdraw and not store amounts exceeding 200 USD in HotForex. This company knows nothing about risk and money management and at any moment will shift all its risks and mistakes onto you, generously telling you to be grateful that you withdrew at least something! And if you dare to open your mouth, you will have to deal with the police. I can’t believe that this is happening in independent Europe in the 21st century. Run away from this company NOW, it is not worthy of your attention.

Salah Samaha Egypt
2.7/5

I deposited more than 700 usd in this broker and for last 3 days when I compared the chart with another brokers I founded this broker hit my stop loss just only to close my transaction. Please run away from this broker

ellajack Daska
1.8/5

I have been trading with the hfm broker from July 2022. Before coming to this broker it was bit scary start since the verification process took a week after submiting my required documents. However the customer support guided me about the processes and once my account approved i started trading focusing on new york session. First two or three months were below expectation since i was learning from other friends. They also have weekly webinars which acted as trading supplements for me. I reached my breakeven in November since then my account is growing although small but i am happy with the services.

omar49s CDMX
1/5

This review is to warn people who are thinking about open a trading account with HFM. I had to program a call with my "Account Manager" in order to verify my phone number because the "Automatic Verification" never worked. Well, my "Account Manager" never called me back. So, if they never resolved a minor issue like a phone verification in order I could open a REAL trading account, I dont know what this broker would do if I have an issue with a withdrawal.

496177 Pretoria
2.7/5

i took a buy trade on NZDJPY on the 11/04/2023 when i checked a saw spike towards my stop loss however the same trade from my other three accounts went into profit only HF Markets was closed. i suspect they have a dealer desk to hunt stop losses. The spike was deep and i sent them my photos but still waiting for their response. i am disappointed because i have traded with them for 7 years.

elusakin Lagos
2/5

The only con to using HFM is the speed of their withdrawal, and this is due to the fact that I've used brokers who process withdrawals between 1 minute - 2 hours. But with HFM, once you miss the 10:00am deadline, you won't get your funds until next day. Outside this, there's nothing unusual that you won't experience with other broker's platforms.

J GR
0.5/5

The support team , Scam my account opening and closing trades at same team blowing my account just because the said that “someone” (hotforex team). Hack my account because of my fault. But the only beneficiary of that kind of operation, guess what? Yeah is hotforex. Opening buys and sells at same time and closing 2 seconds later. Wow 😮. Nice scam hotforex

Enoojo Salihu
1/5

I deposited since and it's been saying pending what's going on

Kannikar Tapao
4/5

There have been no problems encountered using the HFM system. Deposits and withdrawals are easy, convenient, and receive very fast service. There are employees periodically asking about usage problems. The staff gives advice. Always notify about good promotions. The account I am using does not charge swap fees for orders placed across the day. and low space value.

Muaz Roslin
3/5

Tutorial video doesn't work on android

Peter Auston
1.4/5

You hfm market are one Of the worst brokers, if not that you offer zero spread account for small amount, I Wouldn't even think of trading with you, Don't you guys know the meaning of instant deposit? I would I make a deposit using your so called instant deposit, and then I will have to call your customer service then wait hours sometimes days before getting funded? This is by far one of the worst firm, and their customer service is so slow and rude

customer
4.3/5

No too much word, you guys are really Professional, handling dispute, I rate 💯%, Customer service relating 💯%,

Treasure Gabriel
1/5

Worst broker ever… manual bank transfers take almost forever to be deposited in your trading account. Crypto payment option is missing from the app. Please fix up

Mohamad Danial
2.3/5

Made payment and deposit to my trading account but funds not credited. HFM has confirmed that payment have failed but funds have still yet to be credited back to my bank account. This has been ongoing for the past 2 weeks. I have still yet to receive my funds back. Consulted with back end agent, and they have confirmed that payment has failed they will bounce back my deposit but still yet to receive. Getting ridiculous and losing trust in HFM as they seem incompetent in handling client's funds and don't take accountability when something goes wrong. Red flag.