Exness Review
HFM Fees and Spreads
Overview, HFM Fees start from the average Spreads of 0.0 pips EUR/USD, and the commission depends on the trading account the trader is using. HFM is considered trustworthy, with an overall Trust Score of 9 out of 10.
- Louis Schoeman
Jump to:
Fees and Spreads Overview
Additional Trading Fees
Broker Fees
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 Fees and Spreads
The Spread list for HFM starts from .0 pips on Forex Majors.
Botswana traders who use HFM may expect a clear and competitive spread list depending on the financial instrument being traded, the live trading account being utilized, and the financial market circumstances on the day they trade. HFM has a variety of spreads, including the following:
➡️ 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
What fees and spreads can I expect when trading with HotForex?
HotForex employs a transparent fee structure designed to provide traders with competitive and cost-effective trading conditions. The primary cost associated with trading at HotForex is the spread, which is the difference between the buying (ask) and selling (bid) prices of an asset. Spreads can vary depending on the account type chosen and the specific asset being traded.
Are there any hidden fees or charges when using HotForex?
HotForex is committed to transparency and does not impose hidden fees or charges on its clients. The broker strives to provide clear and upfront pricing, ensuring that traders can focus on their trading activities without unexpected costs. In addition to spreads and possible commissions (on Zero Spread accounts), HotForex may apply swap or rollover fees for positions held overnight, which can either be a credit or debit depending on the direction of the trade and the interest rates associated with the currency pairs being traded.
HFM Additional Trading Fees
Commissions
HFM’s commissions are exceptionally cheap when compared to those levied by other forex and CFD brokerages. Transaction fees for major currencies and other financial products traded by Botswana traders will range between $3 and $4.
Overnight Fees, Rollovers, or Swaps
Daily modifications are made to the overnight Fees that are charged/credited based on market conditions and pre-existing prices provided by HFM’s Price Provider, and these adjustments apply to all open positions. When dealing with HFM, Botswana traders should expect the following swap fees:
| 🔧 Instrument | 📈 Long (Buy) Swap | 📉 Short (Sell) Swap |
| EUR/USD | -3.0 pips | -0.5 pips |
| GBP/USD | -1.7 pips | -3.0 pips |
| XAG/USD | -0.09 pips | -0.09 pips |
| XAU/USD | -2.6 pips | -0.99 pips |
| US100 | 0.0 pips | -0.53 pips |
| Shares (Apple, Inc.) | -3.53 pips | -0.68 pips |
Muslim traders have the chance to convert their live trading account into a Swap-Free Islamic option using the HFM platform. This frees them from having to pay overnight costs and provides halal trading circumstances for those who adhere to sharia law.
HFM does not provide spread betting services to Botswana traders, only those in the United Kingdom. Therefore, Botswanans need not worry about being subject to spread betting fees.
Are there any additional trading fees that I should be aware of when trading with HotForex?
HotForex is known for its transparent fee structure, and while the primary cost of trading is typically the spread, there are some additional trading fees that traders should be aware of. One of these fees is the overnight financing or swap fee.
Do I have to pay any inactivity or account maintenance fees with HotForex?
HotForex does not typically charge inactivity or account maintenance fees to its clients.
HFM Broker Fees
Deposit and Withdrawal Fees
There are no fees listed for any of the deposit or withdrawal modes supported by HFM. However, there is a statement on bank wire transfers that states that costs do not apply to deposits of more than USD 100.
Thus, Botswana traders who use bank wire may incur costs if they deposit less than 1,280 BWP, or the equivalent of USD 100, depending on the current USD/BWP exchange rate.
Inactivity Fees
If a live trading account remains inactive for six consecutive months to one year, a $5 monthly fee will be assessed until the account balance reaches zero, at which point the account will be closed automatically.
Currency Conversion Fees
Because HFM only accepts deposits/withdrawals in USD and ZAR, Botswana traders who deposit or withdraw money in Botswana Pula may incur currency translation costs.
What are the broker fees associated with HotForex?
HotForex employs a transparent and competitive fee structure designed to provide traders with clear pricing. The primary cost associated with trading at HotForex is the spread, which is the difference between the buying (ask) and selling (bid) prices of an asset. Spreads can vary depending on the account type chosen and the specific trading instruments.
Does HotForex charge any deposit or withdrawal fees?
HotForex does not typically charge fees for deposits or withdrawals made by its clients.
HFM Botswana Pros and Cons
| ✔️ Pros | ❌ Cons |
| HFM does not charge any deposit fees when Botswanans transfer funds to a trading account | HFM does not support BWP as a deposit currency or an account base currency, which could result in currency conversion fees |
| There are competitive spreads charged | HFM’s spreads are wider on entry-level accounts |
| HFM is a transparent broker that does not have any hidden broker fees | |
| Botswanans need not worry about withdrawal fees when they transfer funds from the trading account |
Verdict on HFM
Overall, HFM is very competitive in terms of its trading fees and spreads.
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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
What spreads can I expect when I trade with HFM?
You can expect zero-pip spreads on the Zero Spread Account. At the same time, other accounts have average spreads from 1 pip, depending on the financial instrument.
What are HFM’s commissions?
Commissions range between $3 to $4 per side and $6 to $8 per standard lot (100,000 base currency units) traded.
Are there any deposit or withdrawal fees when I transfer funds to/from my HFM account?
HFM does not charge deposit or withdrawal fees, but your bank might impose processing fees.
What is HFM’s minimum deposit?
The minimum deposit for an HFM Micro Account is 0 USD / 0 BWP.
Does HFM charge overnight fees?
HFM debits/credits overnight fees depending on whether you hold a long or short position. For example, EUR/USD has a long swap of -3.0 pips and a short swap of -0.5 pips.
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.
