Exness Review
HFM Account Types
Overall, HFM Account Types is considered trustworthy, with an overall Trust Score of 83 out of 100. HFM is regulated by HFM Investments Limited. HotForex is authorized by one tier-1 regulator (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust).
- Louis Schoeman
Jump to:
Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
HFM at a Glance
| 🏛 Headquartered | Cyprus |
| 🌎 Global Offices | Seychelles, South Africa, Dubai, UK, Kenya |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2010 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 1️⃣ Tier-1 Licenses | • Financial Conduct Authority (FCA) |
| 2️⃣ Tier-2 Licenses | • Financial Sector Conduct Authority (FSCA) • Cyprus Securities and Exchange Commission (CySEC) • Capital Markets Authority (CMA) • Dubai Financial Services Authority (DFSA) |
| 3️⃣ Tier-3 Licenses | • Financial Services Authority (FSA) • Financial Services Commission (FSC) |
| 🪪 License Number | • South Africa – FSP 46632 • Cyprus – 183/12 • Dubai – F004885 • Seychelles – SD015 • United Kingdom – 801701 • Mauritius – 094286/GBL • Kenya – CMA license 155 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Global Restrictions | • France ACPR – 53684 • Germany BaFin – 132342 • Hungary MNB – K8761153 • Italy CONSOB– 3673 • Norway – FT00080085 • Spain CNMV – 3427 • Sweden FI – 31987 • Austria FMA • Bulgaria FSC • Croatia HANFA • Czech Republic CNB • Denmark Finanstilsynet • Estonia FSA • Finland FSA • Greece HCMC • Iceland FME • Central Bank of Ireland • Latvia FKTK • Liechtenstein FMA • Lithuania Lietuvos Bankas • Luxembourg CSSF • Malta MFSA • Poland KNF • Portugal CMVM • Romania ASF • Slovakia NBS • Slovenia ATVP |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 5 |
| ✔️ PAMM Accounts | No |
| 💻 Liquidity Providers | Barclays UK, BNP Paribas, and others |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | 0.0 pips |
| 📉 Minimum Commission per Trade | $3 to $4 |
| 💰 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | Between 40% to 50% |
| 🛑 Stop-Out | Between 10% and 20% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 60 lots |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | Yes |
| 📈 Maximum Leverage | 1:2000 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 0 BWP or an equivalent to $0 |
| ✔️ Botswana Pula Deposits Allowed? | Yes |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based HFM customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Bank Wire Transfer • Electronic Transfer • Credit Card • Debit Card • Skrill |
| 💻 Minimum Withdrawal Time | 10 Minutes |
| ⏰ Maximum Estimated Withdrawal Time | 10 business days |
| 💳 Instant Deposits and Instant Withdrawals? | No |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • HF App |
| 💻 Tradable Assets | • Forex • Precious Metals • Energies • Indices • Shares • Commodities • Cryptocurrencies • Bonds • Stocks DMA • ETFs |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | None |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | 20 Languages |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Botswana-based customer support? | No |
| 💸 Bonuses and Promotions for Botswanans? | No |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is HFM a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for HFM Botswana | 9/10 |
| 🥇 Trust score for HFM Botswana | 85% |
| 👉 Open Account | 👉 Open Account |
HFM Overview
HF Markets (HFM), formerly known as HotForex.com, is a broker owned by the HF Markets Group that provides a broad range of accounts, the largest assortment of trading assets, and superior software.
Since its inception in 2010, HFM has expanded its geographic reach to more than 100 countries worldwide.
HFM welcomes Botswanan customers and charges a round-turn fee of $6 to $8 with an average spread of 0.0 pips. In addition, there is a demo account and an Islamic account offered by HFM, and the maximum leverage ratio is up to 1:1000.
After 12 years of fast expansion and becoming a genuinely global broker of choice with over 3.5 million live accounts established, on May 2, 2024, HFM started a new era with a new name, HFM, that more appropriately represents the wide variety of trading instruments and the one-of-a-kind trading experience that HFM provides.
This change came about because the company decided to rebrand itself to reflect the breadth of its offering more effectively. HFM (HF Markets) is an award-winning forex and commodities broker that provides individual and institutional customers with trading services and facilities.
HFM has been the go-to forex broker for traders throughout the globe because of its philosophy of offering optimal trading conditions and accommodating various trading styles, including scalping and expert advisers.
HFM has clients from around the world and these areas have the largest distributions:
➡️ Dominican Republic – 12.97%
➡️ India – 10.6%
➡️ South Africa – 9.21%
➡️ Indonesia – 8.45%
➡️ Turkey – 5.2%
HFM Account Types
Traders who use HFM have access to a variety of trading accounts that may be tailored to match their specific needs and preferences. The following accounts are available to retail investors via HFM:
Account Types and Features
There is a selection of trading accounts available to choose from. These accounts are designed to accommodate various levels of trading expertise, levels of trading experience, and trading styles. The following types of retail investor accounts are provided:
CENT Account
ZERO Account
PREMIUM Account
PRO Account
Live Trading Accounts
CENT Account
A Cent account is a type of trading account that allows you to trade swaps free and with cent lots. A Cent lot equals 0,01 of a Standard lot or 1,000 units. The margin requirements are as low as 10 US cents making it a beginner-friendly option for traders transitioning from trading on a Demo account to real trading.
Cent accounts are an excellent choice for novice traders who want to put their trading skills to the test and learn the dynamics of the real market – all while not investing too much of their trading funds. Experienced traders can also trade on Cent accounts to test new trading instruments and develop their strategies with less capital and reduced exposure.
ZERO Account
The FX Revolution starts at Zero! With no minimum opening deposit and leverage up to 1:2000, the Zero account is an accessible, swap-free, low-cost trading solution that is suitable for all traders. Receive RAW, Super-Tight Spreads from leading liquidity providers with NO hidden markups and commissions starting from a low $0.03 per 1k lot!
PREMIUM Account
Premium account is for retail traders who are looking for swap-free trading with lower spreads, no minimum deposit, and no commission. Open a Premium account today and access the markets via MT4, MT5, Webtrader, or the HFM App!
PRO Account
With ultra-low spreads, leverage up to 1:2000, and no commissions, the swap-free Pro account is developed to suit the needs of a more experienced trader who wants to take their trading to the next level.
Traders from Botswana can open a demo account on any of the following account types:
CENT Account, ZERO Account, PREMIUM Account, PRO Account.
What are the different Account Types offered by HotForex, and how do they differ?
HotForex provides a variety of account to cater to different trading preferences and experience levels. The main account include Cent, Premium, Zero Spread, Pro, and HFCopy accounts. Each account type has its own set of features and benefits.
Can I change my HotForex account type after opening it?
Yes, HotForex allows clients to switch between account if they wish to do so. However, there are specific conditions and requirements to consider when changing account.
HFM Demo Account
Based on genuine market conditions, the HFM Demo Account has been created to accurately imitate a real trading environment. The HFM Demo is unrestricted, which is advantageous for novice traders.
The beginning virtual balance for Botswanans will be 100,000 USD, which could be increased upon request.
Traders from Botswana can effortlessly browse charts, news, and analysis, have access to the fully-featured MT4 and MT5 platforms, and experience real-time pricing and currency market volatility.
HFM offers Botswana traders the opportunity to establish a demo account with any of the following account types:
➡️ Cent Account
➡️ Premium Account
➡️ HFCopy Account
What is a HotForex demo account, and how can I get one?
A HotForex demo account is a risk-free trading account provided by the broker that allows traders to practice and familiarize themselves with the trading platform and market conditions using virtual funds.
Is there a time limit or expiration date for a HotForex demo account?
HotForex typically provides traders with unlimited access to their demo accounts. This means that there is no specific time limit or expiration date imposed for using the demo account.
HFM Islamic Account
HFM gives Muslim traders the option to switch their live trading account into a swap-free Islamic account at no additional cost.
Because the HFM Islamic Account is according to Sharia law and the principles that relate to Islam, Muslim traders who retain open positions overnight will not be charged interest if they use this account. This benefit is only available to traders who use the HFM Islamic Account.
Traders at HFM have the flexibility to convert any of their existing trading accounts into an Islamic Account, which allows them the freedom to participate in halal trading without being subject to any constraints.
What is a HotForex Islamic Account, and how does it work?
A HotForex Islamic Account, also known as a swap-free account, is designed to cater to traders who adhere to Islamic principles and wish to trade in compliance with Sharia law. This account type eliminates the concept of interest (Riba) from trading by not charging or paying swap or interest on overnight positions. Instead, HotForex offers a commission-based structure on Islamic accounts.
Are there any eligibility or documentation requirements for opening a HotForex Islamic Account?
To open a HotForex Islamic Account, traders typically need to provide documentation to confirm their eligibility, such as proof of their Islamic faith.
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
HFM Botswana Pros and Cons
| ✔️ Pros | ❌ Cons |
| HFM is well-regulated and features registrations from several countries worldwide, which adds to its reputation and trustworthiness | HFM’s spreads are wide on entry-level accounts |
| HFM’s overall reputation and reach are unparalleled | HFM does not support a large array of deposit and withdrawal options |
| The HFM brand has won over 60 accolades in its field throughout the years | Botswanans pay currency conversion fee as there is no BWP-denominated trading account |
| HFM’s demo accounts for MT4 and MT5 are unrestricted | |
| Botswanan Muslim traders who prefer Islamic accounts can make the switch at any time | |
| Botswanans can choose an account that suits their trading strategy and experience level the best | |
| Traders have access to a plethora of learning materials and innovative trading platforms | |
| The versatility of the trading platforms means that more people in Botswana can make use of them, even if they do not have previous trading experience | |
| Botswanans pay an extremely low minimum deposit of 65 BWP, and the market circumstances are favourable for trading |
Verdict on HFM
Overall, HFM is very competitive in terms of its trading fees and spreads.
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You might also like: HFM Demo Account
You might also like: HFM Islamic Account
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Conclusion
Now it is your turn to participate:
Do you have any prior experience?
What was the determining factor in your decision to engage?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below
Frequently Asked Questions
Is HFM a safe broker for Botswanans?
HFM is risk-free. With a trust score of 85 out of 100, HFM is a low-risk, trustworthy broker. One Tier-1 regulator (FCA), four Tier-2 regulators (FSCA, CySEC, CMA, DFSA), and two Tier-3 regulators control HFM (FSA, FSC).
What is the minimum amount required to open an HFM Account?
An HFM Account requires a minimum deposit of 0 USD / 0 BWP.
Is HFM suitable for novices?
HFM is an excellent choice for Botswanan newcomers because of the instructional materials, customer service, and unlimited demo account.
Can I trade Volatility 75 with an HFM account?
HFM is one of the few brokers providing the Volatility 75 option. Additionally, VIX futures contracts may be traded using HFM.
What kind of broker is HFM?
HFM is a Forex and CFD broker founded in 2010 and has garnered significant popularity in Botswana and other African nations.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
