HF Markets, previously known as HotForex, is a leading global forex and CFD broker that has been growing in popularity among Kenyan traders in recent years. In this expert review, we’ll examine HF Markets in detail including regulation, trading conditions, platforms, spreads, leverage, and more.
Introduction to HF Markets
HF Markets Group is headquartered in Mauritius and provides online trading access across forex, cryptocurrency, commodities, indices and shares through their HF Markets and HF Prime brands.
The broker serves over 2.5 million live accounts worldwide and processes average daily volumes exceeding $6 billion. HF Markets is regulated in multiple jurisdictions including the Financial Conduct Authority (FCA) in the UK, FSCA in South Africa, and the Cyprus Securities and Exchange Commission (CySEC).
For Kenyan traders, HF Markets is the preferred brand suited to the local market in terms of account currency, payment options and dedicated support.
Let’s review HF Markets in detail to see if they are recommended for Kenyans wanting to trade forex and CFDs online.
HF Markets Regulation and Security
- Regulated by the FCA, FSCA, CySEC & Dubai DFSA.
- Segregated client funds are kept with top-tier banks.
- Negative balance protection is guaranteed.
- Member of the ICF for up to EUR 20,000 compensation per client.
- 256-bit SSL data encryption used.
HF Markets follows strict regulatory requirements ensuring trader funds and data are secure.
Regulation & Safety
| Licensing | Investor Protection | Data Security |
|---|---|---|
| FCA, FSCA, CySEC regulated | ICF for up to €20,000 | 256-bit encryption |
| Segregated client funds | Negative balance protection | DDoS mitigation |
| Meets regulatory capital requirements | Globally regulated | Regular external audits |
HF Markets Account Types
HF Markets offers several account types to cater for different traders:
Micro Account
- Minimum deposit of $5
- Spreads from 1.2 pips
- Leverage up to 1:1000
- Minimum contract size 0.01 lots
Premium Account
- Minimum deposit $250
- Spreads from 0.8 pips
- Increased 1:500 leverage
- Minimum contract size 0.1 lots
Zero Spread Account
- Minimum deposit $500
- Raw spreads from 0 pips + commission
- 1:200 leverage
- For high-volume traders
Islamic swap-free accounts are also available for all account types.
Account Types
| Account | Minimum Deposit | Spread From | Leverage | Minimum Size |
|---|---|---|---|---|
| Micro | $5 | 1.2 pips | 1:1000 | 0.01 lots |
| Premium | $250 | 0.8 pips | 1:500 | 0.1 lots |
| Zero Spread | $500 | 0 pips + commission | 1:200 | 0.01 lots |
HF Markets Spreads and Fees
HF Markets offers floating spreads that vary depending on market conditions and liquidity. The average spreads on major currency pairs include:
- EUR/USD: 1.2 pips
- GBP/USD: 1.7 pips
- EUR/KES: 18 pips
- USD/KES: 12 pips
For exotic pairs and during volatility spreads may be higher. The Zero Spread account offers raw spreads from 0 pips charged together with a small commission per lot traded.
There are no hidden fees or commissions beyond the spreads. Swap rates apply for keeping positions open overnight but are not charged on Islamic accounts.
Trading Conditions
| Assets | Spreads From | Commission | Swap Rates |
|---|---|---|---|
| Forex | 1.2 pips | None | Yes |
| Cryptocurrency | 20 pips | None | No |
| Commodities | 3 pips | None | Yes |
| Indices | 1 pip | None | Yes |
| Shares | 0.1% | None | Yes |
HF Markets Trading Platforms
HF Markets offers a choice of popular third-party trading platforms:
MetaTrader 4 (MT4)
- Leading multi-asset trading platform worldwide.
- Advanced charting capabilities, indicators, EAs, algos.
- Customizable workspace and optimized performance.
- Available as desktop, web trader and mobile app.
MetaTrader 5 (MT5)
- Enhanced features beyond MT4.
- Designed to support wider asset classes.
- Additional pending order types and timeframes.
- Similar available across desktop, web and mobile.
Both platforms allow automated and social trading features.
Supported Trading Platforms
| Platform | Key Features | Devices Supported |
|---|---|---|
| MetaTrader 4 | Advanced charting, EAs, custom indicators | Desktop, Web, Mobile |
| MetaTrader 5 | Additional order types, more assets | Desktop, Web, Mobile |
| HF Markets WebTrader | Proprietary web platform, simple interface | Web browser only |
HF Markets Leverage
HF Markets offers high leverage up to 1:1000 depending on account type. For example:
- 1:1000 on Micro for forex.
- 1:500 on Premium for Forex.
- 1:100 on cryptocurrency CFDs.
- 1:20 on global stocks.
Higher leverage allows trading larger position sizes with less margin but increases risk. New traders should use lower leverage based on preferences.
Negative balance protection ensures losses cannot exceed the deposit.
Leverage By Asset Class
| Asset | Max Leverage |
|---|---|
| Forex | Up to 1:1000 |
| Cryptocurrency | Up to 1:100 |
| Commodities | Up to 1:100 |
| Indices | Up to 1:100 |
| Shares | Up to 1:20 |
HF Markets Deposits and Withdrawals
HF Markets offers several convenient payment methods for Kenyan clients:
- Bank transfer – Fast local transfers via MPESA, EFT, and Wire transfers.
- Credit/debit cards – Top cards like Visa and Mastercard are accepted.
- Mobile money – M-Pesa, Airtel Money, Tigo supported.
- Neteller – Fast deposits and withdrawals via Neteller e-wallet.
- Skrill – Similar fast transfers via Skrill.
No fees for most deposit options. Withdrawals are also free and processed within 24 hours.
Payment Methods
| Deposit Methods | Withdrawal Methods | Processing Time |
|---|---|---|
| Bank transfer, Cards, Mobile Money | Bank transfer, Cards, Mobile Money | 24 hours |
| Skrill, Neteller | Skrill, Neteller | Same day |
| Bitcoin | Bitcoin | Under 1 hour |
HF Markets Verdict for Kenyans
HF Markets is regulated internationally, provides access to forex and CFD markets across sectors, and offers a choice of acclaimed trading platforms including MT4 and MT5.
Spreads and leverage are quite competitive though aggressive high-volume traders may find better spreads elsewhere.
The convenient payment options, 24/5 support and comprehensive learning resources make HF Markets suitable for beginner Kenyan traders. Experienced traders can also benefit from smooth trading conditions and platforms.
Open a free demo account to test HF Markets’ offering yourself. Overall a solid regulated broker worth considering among the best forex brokers accepting Kenyan clients.
