HFM Premium Account Review

Having used HFM (formerly HotForex) as a broker since 2016, I have gained a wealth of experience with various trading platforms and account types, particularly the Premium Account. This detailed HFM Premium Account review aims to provide traders with a detailed look at the features, benefits, and potential downsides of the HFM Premium Account based on real trading experiences.

What is the HFM Premium Account?

The HFM Premium Account (formerly known as the HotForex Premium Account) is a type of trading account offered by HFM, a well-known forex and commodities broker.

This account is designed to cater to both novice and experienced traders by providing a balance between competitive spreads and a robust set of trading features.

It is particularly suited for experienced traders who require advanced trading tools and features to help them achieve their financial goals, while also accommodating those newer to the market seeking to develop their trading skills.

With an HFM Premium Account, traders can access a variety of exclusive benefits and features, including lower spreads, swap-free trading, higher leverage, and priority customer support.

The HF Markets premium account has no minimum deposit making it very accessible to all types of forex traders.

How To Open An HFM Premium Account: Step-By-Step

Opening an HFM Premium Account is a straightforward process designed to get traders started quickly and efficiently. Here’s a step-by-step guide on how to open this type of account with HFM:

Step 1: Visit the HFM Premium Account Sign Up Page

Visit the HFM Premium account creation page. Click on  ”Open Premium Account”

Step 2: Enter your details

Enter your details including your country of residence, email and password. Read and accept the privacy conditions and click on ”Register”.

Step 3: Verify Your Email

You will receive an email from HFM. Open this email and click on the verification link to continue.

Step 4: Complete your profile

Complete your profile by providing personal details such as your name, gender, phone number, and country of birth. You must also select your date of birth and the default base currency for your HF Wallet. The base currency cannot be changed later so choose carefully.

Step 5: Verify Your Account

Upload the required documents to verify your identity and residence. This typically includes a government-issued ID (like a passport or driver’s license) and a recent utility bill or bank statement.

Step 5: Fund Your Account

After logging into your HotForex dashboard, navigate to the deposit section to add funds. You can choose from several payment methods, including bank transfer, credit card, or online payment systems like Skrill or Neteller. Follow the on-screen instructions to complete your deposit.

While the HF Markets Premium account may not require a minimum deposit, it's important to ensure you have enough funds to cover the margins for your intended trades.

Step 6: Start Trading

Once your account is funded, download and install the trading platform supported by HotForex, such as MetaTrader 4 or MetaTrader 5. Log in using the credentials you set up during registration.

You're now ready to start trading. You can open and manage trades in forex, commodities, and indices without the concern of spreads affecting your transactions.

You can test the conditions of the HFM Premium account by opening a demo version.

Features Of The HF Markets Premium Account

 

🏦 Account Name	Hotforex Premium Account
📱Trading Platform	MetaTrader 4, MetaTrader 5, Webtrader, HFM App
💵 Spreads:	From 1 pip
💳Minimum deposit	$0
🏋️‍♀️Maximum Leverage	1:2000
💶 Commission	❌ No
🥇Types of assets traded	Forex, Metals, energies, Shares, Indices, Bonds, Commodities, DMA Stocks, ETFs
📊 Minimum trade size:	0.1 Lot
🎮Demo account	Yes
🚅Execution:	Market Execution
💷Account currencies	USD, EUR, NGN, JPY
💳Payment methods	Skrill, Neteller, Debit Card, Wire Transfer, Credit Card, fasapay, Vload, Webmoney
❇Is scalping allowed?	Yes
🔔Margin Call / Stop out level:	50% / 20%
Is PAMM supported	Yes
📊Trade size increment:	0.01
💹Maximum Simultaneous Open Orders:	500
💹 Maximum Total Trade Size	60 Standard Lots
💼Personal Account Manager:	Yes
♻Is CopyTrader supported?	Yes
🚀Open Account	👉🏼 Click Here

Pros of the Hotforex Premium Account

• VPS hosting
• Available on mt4 and mt5 platforms
• Priority support 24/7
• Leverage up to 1:2000.
• No minimum deposit
• Wide range of trading tools and resources
• Access to a wide range of trading assets
• Competitive spreads

Cons Of The HF Markets premium account

• High leverage can be risky for inexperienced traders
• Not available in some countries
• No ECN trading

Is The HFM Premium Account Right For You?

Deciding whether to use the HFM Premium Account depends on several factors related to your trading goals, experience, and preferences. Here are some considerations to help you determine if this account is a good fit for you:

Consider Your Trading Experience and Goals

• Experience Level: If you are an intermediate or experienced trader, the HFM Premium Account's features such as MetaTrader platforms, competitive spreads, and a broad range of instruments can be very advantageous. For beginners, the educational resources and no minimum deposit make it a viable option to start with.
  
• Trading Volume and Frequency: If you trade frequently or with significant volume, the relatively low spreads of the Premium Account can help minimize your trading costs over time.

Evaluate the Account Features

• Spreads and Costs: Evaluate if the starting spreads from 1.2 pips without additional commissions align with your trading strategy. While not the lowest in the market, they are competitive. Consider how these costs will impact your potential profits.
  
• Leverage: The high leverage of up to 1:2000 can significantly increase your buying power, but it also increases risk. Assess your ability to manage such risks effectively before deciding.
  
• Trading Instruments: If you're interested in diversifying your trades across different markets like forex, commodities, and indices, the range of instruments offered is a strong advantage.
  
• Platform Compatibility: Make sure that you are comfortable using MetaTrader 4 or 5, as these are the platforms provided with the account.

Regulatory and Support Framework

• Regulation: HFM is regulated by multiple authorities, providing a level of security and trust. Consider the importance of trading with a regulated broker in terms of the safety of your funds.
  
• Customer Support: Good customer support is crucial, especially if you encounter issues with your trades or account. HFM offers 24/5 support, which is a significant advantage if you need assistance outside of standard office hours.

Personal Preferences and Requirements

• Educational Resources: If continuous learning and access to up-to-date market analysis are important to you, HFM’s wealth of educational resources can be very beneficial.
• Geographic Accessibility: Make sure that HFM accepts traders from your country and that you can meet any regulatory requirements for your region.

Frequently Asked Questions On The Hotforex Premium Account

Other HFM Accounts You May Be Interested In