HFM account types

HFM is a Forex and CFDs broker regulated in multiple jurisdictions. The broker offers diverse trading assets of Forex, indices, commodities, stocks, cryptos, and ETFs. The broker offers multiple account types, cent, zero, pro, premium, and top-up bonus. We are going to review each of the trading accounts and their key features and differences.

A quick comparison of HFM trading account types

Here is a table to quickly see the overall specs of each trading account type offered by HFM.

HFM Cent account

The cent account is designed for new traders who want to test their skills on live markets with a small budget. The key defining feature of a cent account is its low capital requirements and micro-lots trading volumes. 1 micro lot is equal to 1,000 units of currency or 0.01 lots. The main goal here is to allow novice traders to trade on live markets with much lower risks than other accounts.

Supported trading platforms include MetaTrader 4, MetaTrader 5, Webtrader, and Mobile Trading. The Webtrader and mobile trading apps are also MT4 and MT5 apps but for mobile and browsers. They offer somewhat limited functionality when compared to their desktop counterparts. The desktop software MT4 and MT5 are both super advanced platforms, offering a full range of features, including fully automated trading capabilities.

Spreads on HFM cent accounts are variable from 1.2 pips on major pairs of EURUSD. Account currency is only USC. 1 lot equals 1,000 units, trading instruments offered on the cent account are limited to only Forex and Gold.

The minimum deposit starts from 0 USD and the minimum lot size is set at 0.01 lot. The leverage is high on HFM and depending on the jurisdiction of a trader can reach up to a maximum of 1:2000. There is a maximum trade size limitation of 200 micro lots per position and 500 micro lots in account total. Traders can have a maximum of 150 trades opened at the same time, and the margin call happens at 50%. The account also supports telephone trading.

There are zero commissions for Forex trading. Personalized services are also unavailable, and the cent account is available in a swap-free version.

The margin requirement is very low at 10 US cents and the account is for beginners who are transitioning from demo to live trading.

HFM Zero account

With a maximum leverage of 1:2000 and 0 USD minimum deposit requirement, a zero account is a low-cost solution for all traders. Zero account is also available in a swap-free version. As the name suggests, the Zero account comes with low spreads of 0.0 pips on Forex pairs for a small commission of 0.03 USD per 1k lot. Spreads are also variable depending on the market conditions. Accepted account base currencies include USD, EUR, NGN, and JPY.

The standard lot equals 100,000 units of a currency, and all trading instruments are available. The minimum lot size is 0.01 lots (1,000 units of currency). 60 standard lots per position and 500 trades can be opened simultaneously. Margin call happens at 50% and stop-out at 20%. Supported services include personal account manager, market execution, telephone trading, and personalized service. This account is best suited for scalpers, or traders who want to speculate on short price movements. Scalpers usually close their traders during trading hours and hold positions from several minutes to several hours.

HFM Pro account

The pro account is for traders who want to speculate on Forex and other markets with zero or super-low commissions. HFM pro account has floating spreads from 0.6 pips, which is super competitive and lower than the industry average of 1 pip. Account base currencies include USD, EUR, NGN, and JPY.

The minimum deposit starts from 100 USD or equivalent in base currencies and all other specs are similar to the zero accounts, including the swap-free version. The minimum lot size is 0.01 lots, maximum leverage is capped at 1:2000 depending on the jurisdiction of a trader. Margin call is at 50% and stop-out at 20%.

All services are offered similarly to zero account including personal account manager, market execution, telephone trading, and personalized service. This account is targeted at day traders and swing traders as they prefer small spreads and zero fees because often they might hold positions overnight or even over the weekend.

HFM Premium account

The premium account from HFM is for traders who want to trade on the swap-free account without minimum deposit requirement and commissions. HFM Premium account offers a dedicated trading platform, the HFM App, developed by the broker itself. The minimum deposit, therefore, is 0 USD, the maximum leverage is 1:2000, commissions are zero, and there are no swap fees. Spreads start from 1.2 pips on major pairs, all trading instruments are available, and the execution model is market execution. The minimum lot size is 0.01 standard lots, and traders can open trading positions with 60 standard lots at max. However, the maximum number of trades that can be opened simultaneously is capped at 600. (500×50 = 3,000 lots in total). Margin call and stop-out levels are 50 and 20% respectively.

HFM Top-up Bonus account

The Top-up bonus account was designed for bonuses, meaning traders are eligible for bonuses for each deposit they make. The maximum leverage is capped at 1:1000, spreads start from 1.4 pips, and all trading platforms are supported including the HFM platform. All trading assets are provided for trading including Forex and CFDs, minimum lot size starts from 0.01 lots, and all services are available. The account is available in a swap-free form, offering zero swap fees and 0 USD trading commissions for FX trading. The margin call is also at 50% and stop-out at 20%.