HFM Welcome Bonus T&C in South Africa

Assets Available on HFM

HFM provides traders with a wide selection of market products to invest in. In total, there are over 1,000 CFD trading instruments, encompassing diverse asset classes. This extensive range allows investors the flexibility to develop their trading strategies across various asset classes. Below is a breakdown of the products available to South African traders on HFM.

• Forex - Forex traders have access to a diverse range of currency pairs, including major, minor, and exotic options.
• Energies - The Energies category offers trading opportunities in both spot oil and oil futures.
• Metals - The Metals category provides investment opportunities in precious metals such as gold, silver, palladium, and platinum.
• Indices - A wide array of popular indices is available for speculation, allowing for substantial portfolio diversification.
• Stocks - HFM offers traders the opportunity to speculate via CFDs on the price fluctuations of shares from a wide range of companies, including prominent tech giants such as Amazon and Alibaba.
• Bonds - CFDs on bonds issued by leading global economies are also available for trading.
• Commodities - Both soft and hard Commodities, such as cocoa, coffee and copper, can be traded as standalone trading opportunities or as part of a diversified portfolio.
• ETFs - Traders also have access to a variety of ETF CFDs that allow them to capitalize on price fluctuations across various sectors, currencies, and commodities.

Spreads and Fees on HFM

HFM offers a variety of account types, each with its own fee structure. The trading accounts available to traders include the Premium, the Cent, the Top-up Bonus, the Zero, the Pro, and the Pro-plus accounts. The premium and cent accounts boast competitive spreads starting from just 1.2 pips on major currency pairs. On the other hand, the top-up bonus account features spreads from 1.4 pips for major currency pairs. Note that these three accounts do not feature a commission when trading.

However, the zero account comes with spreads as low as 0.0 pips but charges an accompanying commission of $3 per side per lot. The Pro account offers traders spreads starting from as low as 0.5 pips on major currency pairs, with no commissions required. Meanwhile, the Pro Plus account features spreads starting from 0.2 pips on major currency pairs and also has no commission on forex trading.

These different accounts have different requirements to access. The cent, the premium, the zero, and the top-up bonus accounts do not have a minimum deposit to access. However, a minimum deposit of 1,800 ZAR (or 100 USD) is required to open a Pro account. Additionally, the minimum deposit requirement for a Pro Plus account is 4,700 ZAR (or 250 USD).

It is also important to note that HFM charges swap fees on positions held overnight, with the specific cost varying based on the asset and trade volume. To accommodate Muslim traders with religious restrictions on interest, all HFM accounts offer swap-free alternatives.

HFM Credibility

It is important to consider the credibility of the broker above everything else. If a broker does not have a good reputation in the market, then the bonuses they offer to people do not matter. Luckily, HFM operates under the stringent supervision of multiple financial regulators. These include the FSCA in South Africa, the CMA in Kenya, CySEC in Cyprus, the DFSA in the DIFC, and the FCA in the UK, among others. This robust regulatory framework has helped establish HFM as one of the largest brokers in South Africa today.

Additionally, HFM has garnered strong ratings from its users. The broker holds an impressive 4.3-star rating out of five on Trustpilot, with over 60% of reviews awarding the highest five-star rating. This positive feedback solidifies HFM’s position as a reliable and trusted broker. Moreover, HFM has been operating since 2010 without any major issues, further underscoring its reliability.