HF Markets Review & Ratings for Kenyans – Everything You Need to Know

Carson O.
7 Min Read

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.

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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

LicensingInvestor ProtectionData Security
FCA, FSCA, CySEC regulatedICF for up to €20,000256-bit encryption
Segregated client fundsNegative balance protectionDDoS mitigation
Meets regulatory capital requirementsGlobally regulatedRegular 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

AccountMinimum DepositSpread FromLeverageMinimum Size
Micro$51.2 pips1:10000.01 lots
Premium$2500.8 pips1:5000.1 lots
Zero Spread$5000 pips + commission1:2000.01 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

AssetsSpreads FromCommissionSwap Rates
Forex1.2 pipsNoneYes
Cryptocurrency20 pipsNoneNo
Commodities3 pipsNoneYes
Indices1 pipNoneYes

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.

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Supported Trading Platforms

PlatformKey FeaturesDevices Supported
MetaTrader 4Advanced charting, EAs, custom indicatorsDesktop, Web, Mobile
MetaTrader 5Additional order types, more assetsDesktop, Web, Mobile
HF Markets WebTraderProprietary web platform, simple interfaceWeb 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

AssetMax Leverage
ForexUp to 1:1000
CryptocurrencyUp to 1:100
CommoditiesUp to 1:100
IndicesUp to 1:100
SharesUp to 1:20

HF Markets Deposits and Withdrawals

HF Markets offers several convenient payment methods for Kenyan clients:

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  • 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 MethodsWithdrawal MethodsProcessing Time
Bank transfer, Cards, Mobile MoneyBank transfer, Cards, Mobile Money24 hours
Skrill, NetellerSkrill, NetellerSame day
BitcoinBitcoinUnder 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.

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I am a multi-faceted professional with a strong foundation in Business and Finance, honed since 2020. Additionally, I possess a deep passion for automobiles, serving as an avid car enthusiast. In parallel to my diverse interests, I am also a dedicated student pursuing a career in the medical field.
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