HFM (HotForex)
Alison Heyerdahl December 3, 2019 01:38 PM
HFM (formerly known as HotForex) is not ASIC-regulated. We recommend traders look at trading with Axitrader or Pepperstone instead. HFM is a global CFD broker offering a relatively wide range of trading products including Forex, cryptocurrencies, commodities, indices, shares, bonds, and ETFs. Unusually for a large international broker, HFM does not hold an ASIC licence and Deutsch traders will be trading through the St Vincent and Grenadines licenced subsidiary. The HFM Micro Account has lower trading costs than most other brokers’ entry-level accounts with a 5 USD minimum deposit, fast market execution and spreads starting at 1 pip on the EUR/USD. Experienced traders will be interested in HFM’s ZERO Spread Account, with EUR/USD spreads starting at 0.0 pips and a 6 USD commission. HFM supports both the MT4 and MT5 platforms – but unlike most other brokers does not offer its own web-based platform – and has several excellent trading tools to assist traders further. Access to better trading tools like Autochartist, which other brokers offer as a free service, requires an account balance of 100 USD – well above the required minimum deposit. HFM does not charge any withdrawal or deposit fees, allows hedging, scalping, and copy trading, and offers an excellent selection of educational and market analysis materials to get new traders started