Recently, HFM scam information has been searched a lot by investors. Specifically, this news comes from posts denouncing the exchange on forums and social networking sites. So is the HFM scam information true? Let’s find out with Learn Forex Trading through the following article!
How real is the HFM scam?
Below, Self-Teach Forex will share specifically about HFM scam rumors
Summary of HFM scam information
- HFM exchange scam slipped prices to match pre-ordered orders and blocked pips
A social network account was accused of the HFM scam when it slipped the order matching price and blocked hundreds of pips, causing losses to investors.
- HFM lost the Local Banking deposit portal
According to another account, when this person made a withdrawal transaction at the HFM exchange, he did not see the Local Banking deposit portal, so he thought that the HFM scam.
- HFM scam increases transaction fees without notice
A social account has accused HFM scam the exchange, increasing transaction fees without prior notice.
See more: Latest HFM login instructions
Correcting rumors about the HFM scam
Regarding price slippage, this may not be entirely the exchange’s fault. Sometimes the market fluctuates too quickly and strongly, which will also cause this phenomenon. This also often happens on large exchanges. Therefore, accusing HFM scam in this case is not enough basis.
As for the loss of the Local Banking portal, this could be an interface error or a system problem. If you encounter a similar situation, customers can immediately notify the exchange staff for timely support. Besides, customers can also use other deposit and withdrawal ports instead. As for deposit and withdrawal issues, the exchange is rated quite highly, so we cannot conclude that HFM scam in this case.
Information about HFM increasing transaction fees without prior notice has not yet been confirmed. It is very possible that HFM’s announcements were missed by investors, leading to confusion. In particular, apart from the above accusation account, no investor has spoken up because they encountered a similar situation.
Is the HFM exchange reputable?
In general, the information denouncing the HFM scam has not been verified and these cases only occurred in a few accounts. It is possible that these cases stem from the limitations of the platform (such as high transaction fees, interface, etc.) or investors’ trading errors, but cannot prove that HFM scam or not reputable.
The information proving that the HFM scam exchange is false
Below is a series of information proving that the HFM scam rumor is completely false.
Reputation level – Types of certificates and operating licenses of HFM exchange
HFM is considered one of the most reputable Forex trading exchanges in the industry. Accordingly, HFM has received up to 7 operating licenses from the world’s leading prestigious financial management agencies: FCA, CySEC, DFSA, FSCA, and FSA. Thereby, we can see that the transparency and reputation of the exchange is very high.
Below is a list of licenses that HFM received, specifically:
- HF Markets (SV) Ltd established in St. Vincent & Grenadine and licensed by FSA SVG with registration number 22747 IBC 2015.
- HF Markets (DIFC) Ltd is authorized and issued by the Dubai Financial Services Authority (DFSA) under registration number F004885.
- HF Markets (Europe) Ltd is authorized and regulated by CySEC (Cyprus) under registration number 183/12.
- HF Markets (UK) Limited is authorized and issued by FCA (UK) under registration number 801701.
- HF Markets (SV) Ltd is licensed by FSC (Mauritius) under registration number C110008214.
- HF Markets SA (PTY) Ltd is authorized and regulated by the Financial Conduct Authority (FSCA) in South Africa under registration number 46632.
- HF Markets (Seychelles) Ltd is authorized and issued by the Financial Services Authority (FSA) (Seychelles) under registration number SD015.
Types of certificates and operating licenses of HFM trading exchange
Awards have been achieved
After more than 10 years of construction and development, HFM has won more than 60+ different awards. In particular, among them there are many awards given by prestigious and famous organizations in the world, specifically:
- Among the world’s top 100 leading companies in global finance.
- Best Forex Broker – Global 2022 award is given by The European Awards.
- Best Forex Introducing Broker Provider award given by Smart Visio Investment Expo.
- Best Forex Trading App award given by Capital Finance International Magazine (Cfi. Co).
- The Best Forex Broker South Africa 2022 award is presented by the International Finance Awards.
- Best Forex Broker Middle East 2022 award given by All Forex Review.
- Best Forex Broker Award Asia 2022 is awarded by Global Business Review Awards.
- Best Forex Partners Program Global 2022 award given by World Business Outlook.
Prestigious awards that HFM has achieved
Potential finance
Financial potential is an important factor that helps review broker HFM is reputable or not. Accordingly, financial potential will include knowledge, habits, and skills related to finance as well as the ability to attract and use finance effectively for the enterprise.
HFM trading exchange has quite strong financial potential with many bright achievements such as:
- There are more than 3,500,000 live accounts that have been successfully activated.
- Owning more than 200 working employees.
- Owns many offices and branches everywhere.
- As a sponsor of PSG football club, HFM Santos e-sports, and the leading international racing tournament Porsche Mobil 1 Supercup,…
HFM has extremely strong financial potential
HFM’s customer protection policy
To protect customers as well as ensure reputation and safety when trading, HFM has introduced several practical policies. As follows:
Insurance policy
HFM provides civil liability insurance with a limit of EUR 5,000,000. This helps ensure customers as well as third parties, including insurance against errors, fraud, and risks of damage to players.
Protect your account from negative balances
HFM has a policy to protect customer accounts from negative balances. This policy prevents players from incurring losses even in volatile market conditions that cause margin and Stoploss to not function correctly. This is also considered one of the plus points that help the HFM exchange be highly appreciated for its reputation.
Separate account mechanism
This mechanism ensures that the exchange will not use customer assets for other purposes. Customer money will be transferred to large bank accounts and completely separate from the company’s account. This is also evidence for compensation according to regulations when the exchange becomes insolvent.
Linking with major banks
To ensure quick liquidity as well as reputation, HFM has cooperated with major banks in the world. Through these units, players will easily transact and receive money faster.
Independent external audit
HFM uses a 3rd party auditing party (Deloitte – 1 of 4 major global auditing firms), helping to make all books and papers public and transparent. This helps the exchange’s business operations and revenue reports become more transparent.
Risk compensation mechanism
In the event of a risk, the exchange will have to comply with the compensation program according to the regulations of the FCA regulator, CySEC. Depending on the management area, the amount of compensation customers will receive will range from 20,000 USD – 50,000 GBP.
See more: Instructions HFM sign up account on the phone
Ranking of HFM exchanges in the market
According to the evaluation and rankings of many websites and professional financial review sites, HFM is highly rated and ranked in the top 10 most prestigious trading exchanges. This is also a factor that helps you gain a more objective view of the reputation of this exchange.
Customer care
HFM trading exchange provides 24/5 customer care service (from Monday to Friday) and supports 27 different languages. Accordingly, when you encounter any problems that need to be complained or answered, you can contact the exchange through the following forms:
- Submit form.
- Contact via the hotline system.
- Use ChatLive directly on HFM’s homepage.
Some limitations of HFM exchanges
Although highly appreciated, however, HFM still has some limitations. As follows:
- The exchange’s name being changed from Hotforex to HFM will make it difficult for some new investors to know and find information.
- Although the leverage on the exchange is generally considered to be quite high, however, this leverage is only high for Forex transactions but for commodity and metal CFDs it is quite low.
- Transaction costs are relatively higher than other exchanges.
- HFM’s copy trading platform – HFcopy requires a relatively high minimum deposit amount.
Conclude
Thus, above Learn Forex Trading has sent you information as well as an assessment of the reputation of the HFM trading exchange. Hopefully, through this article, you will have more information about this exchange as well as completely answer the question of whether HFM scam or not!
FAQs
What is HFM exchangeing?
What is HFM? HFM, formerly HotForex, is a trading exchange under the HFM Group (HF Markets Group). The exchange was established in 2010 with headquarters located in St. Vincent and the Grenadines with several global offices located in South Africa, Dubai, United Kingdom, and Seychelles.
What types of accounts does HFM offer?
HFM offers 5 types of real accounts, including Micro, Premium, Zero spread, HFcopy, and Cent accounts.
What is the minimum deposit at HFM?
Depending on the account type, the minimum initial deposit amount will vary, specifically:
- Micro: 5 USD.
- Premium: 100 USD.
- Zero spread: 200 USD.
- PAMM: 250 USD.
As for the HFcopy account, 2 deposit levels depending on your role. Specifically, 100 USD for Follower and 500 USD for Provider.
