HFM Zero Spread Account Review

HFM (formerly known as HotForex) offers a variety of account types tailored to different trader needs, and among these, the Zero Spread Account stands out as a popular choice for traders seeking cost efficiency and price precision. In this review, I'll provide an in-depth analysis of the HFM Zero Spread Account, discussing its features, benefits, limitations, and overall suitability for various types of traders.

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What is the HFM Zero Spread account?

The HFM Zero Spread account offers traders the opportunity to engage in trading major currency pairs and gold without the burden of spreads. Instead of spreads, traders are required to pay a commission for their transactions.

The HFM Zero Spread Account commission starts at a competitively low rate of $0.03 per 1k lot.

This account features raw, extremely tight spreads sourced from top liquidity providers, ensuring there are no hidden markups. This pricing structure is particularly advantageous for traders involved in high-frequency trading or scalping, as the absence of spreads provides greater precision in managing entry and exit points, potentially enhancing profitability.

Traders using the HotForex Zero Spread account gain access to a broad array of trading instruments, including forex, commodities, and indices, accommodating a diverse trading strategy.

Furthermore, the HF Markets Zero Spread account does not require a minimum deposit, making it highly accessible to traders of all levels and financial capacities.

How To Open An HFM Zero Spread Account: Step-By-Step

Opening an HF Markets Zero spread account is easy. Follow these steps.

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

Open HF Markets Zero 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 Zero Spread 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.

Features Of The HF Markets Zero spread account

🏦 Account Name	Hotforex Zero Spread Account
📱Trading Platform	MetaTrader 4, MetaTrader 5, Webtrader and Mobile Trading
💵 Spreads:	From 0 on Forex & Gold
💳 Minimum deposit	$0
🏋️‍♀️ Maximum Leverage	1:2000
💶 Commission	✅ Yes
🥇 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 Zero spread account

Low trading costs.
Available on mt4 and mt5 platforms
Leverage up to 1:2000 and zero commission.
No minimum deposit
Regulated by multiple financial authorities
Access to a wide range of trading assets
Swap-free trading is available on select instruments

Cons Of The HF Markets Zero spread account

High leverage may amplify losses and may not be suitable for all traders
Not available in some countries
Commissions can be higher than spreads on other accounts

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Should You Use The Hotforex Zero spread account?

When deciding whether or not to open a Hotforex Zero spread account, consider the following:

Your trading frequency:
The commission-trading structure is more suitable for high-volume traders or those who engage in frequent trading activities. If you trade less frequently you may want to choose other account types.
Commission Structure:
Understand the commission structure associated with the zero spread account. Since there are no spreads, the account typically operates on a commission-based model where you pay a fixed commission per lot traded.
Your Preffered Trading Assets:
Zero spread accounts are particularly beneficial for trading major currency pairs where spreads can be tightest. If you focus on pairs with typically higher spreads or on markets with higher volatility, the cost advantage of zero spreads might be less impactful.

Consider the commission rates and calculate how they will affect your trading costs, especially if you trade frequently or with larger lot sizes.

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Frequently Asked Questions On The Hotforex Zero Spread Account

What is the HFM Zero Spread Account?

The HFM Zero Spread Account is a trading account offered by HFM that provides traders with the opportunity to trade with zero spreads on selected instruments. Instead of paying spreads, traders pay a fixed commission per lot traded.

What is the minimum deposit for Hotforex Zero spread account?

The HFM (Hotforex) Zero spread account has no minimum deposit making it easily accessible to traders.

What are the advantages of the HFM Zero Spread Account?

The main advantage of the HFM Zero Spread Account is the absence of spreads, which can significantly reduce trading costs, especially for high-frequency traders or scalpers. It allows for tighter control over entry and exit points, potentially increasing profits. The account also offers fast execution, a wide range of tradable instruments, and access to popular trading platforms.

How do I open a Zero Spread account with HFM Markets?

Visit the HFM Zero spread account opening page and click the “Open Account” button. You will then be asked to provide some basic personal information and to choose your account type. Once you have submitted your application, you will be able to fund your account and start trading.

Is the HFM Zero Spread Account suitable for all types of traders?

The HFM Zero Spread Account is particularly beneficial for high-frequency traders and scalpers who rely on quick trades and need to minimize costs. However, it may not be suitable for all traders. Long-term or swing traders who don't engage in frequent trading activities may find other types of accounts more suitable.

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