Look a broker up before you trust it

Ten quick answers

Does HFM hold a licence?
It does. HFM is supervised by FCA, CySEC, FSCA, DFSA, and its licence number is CIF 183/12. You can look that number up on the regulator's own public register.
How much do I need to open a HFM account?
HFM asks for a first deposit of at least $5. Certain account types may require more, so confirm the current amounts on the broker's official website.
Can I trust HFM with my money?
HFM has been trading since 2010 and is regulated by FCA, CySEC, FSCA, DFSA. Before you deposit, check on the regulator's public register that the licence is still valid, and put in only money you can afford to risk on leveraged products.
Can US residents open an account with HFM?
No. Because of US regulatory requirements (CFTC/NFA), HFM is not taking clients who live in the United States at present.
How much leverage does HFM offer?
The highest leverage at HFM is 30:1 EU / 2000:1 offshore. The limit for retail clients depends on where the account is regulated: under tier-1 regulators (FCA, ASIC, CySEC) it is lower than under offshore regulation.
Can I use MetaTrader 4 or MT5 with HFM?
Yes. MetaTrader 4 and/or MetaTrader 5 are available at HFM next to its other platforms.
Which trading platforms can I use at HFM?
At HFM you trade through MT4, MT5. Where applicable, each of these comes in a desktop and a mobile version.
How quickly does HFM pay out withdrawals?
How long a HFM withdrawal takes depends on how you are paid: cards are usually handled the same day, e-wallets within 24 hours and bank wires in 1–5 business days. Your KYC verification has to be finished before any withdrawal.
Will HFM charge me for withdrawing?
As a rule, HFM makes no charge when you withdraw to the method you deposited with. A payment processor or bank may still add a fee of its own, which the broker does not control. The broker's payment terms give the current details.
Does HFM have a demo account?
Yes. HFM provides a demo account at no cost. It is loaded with virtual funds, so you can try the platform, practise your strategies and look around the available markets before you risk real money.