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Do you want to know which is the better broker between HFM and E-Global ?
In the table below, you can compare the features of HFM , E-Global side by side to determine the best fit for your needs.
EURUSD: 0.1
XAUUSD: 0.7
Long: -6.99
Short: --
Long: -35.92
Short: --
EURUSD: -0.8
XAUUSD: 3.8
Long: -7.3
Short: 1.66
Long: -457.08
Short: 143.92
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of hotforex, e-global lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Founded | 2010 |
Registered Country/Region | Cyprus |
Regulation | CYSEC, FCA, DFSA, FSA (Offshore) |
Trading Instruments | 3500+, Forex, commodities, metals, bonds, energies, ETFs, indices, cryptos, stocks |
Demo Account | Available |
Account Types | Premium, Pro, Zero, Cent |
Maximum Leverage | 1:2000 |
Spread | 0.0 pips onwards |
Trading Platforms | MetaTrader4, MetaTrader5, HFM mobile app |
Minimum Deposit | $0 |
Deposit & Withdrawal | Bank transfer, credit/debit card, crypto, Fasapay, Neteller, PayRedeem, Skrill, bitpay |
Educational Resources | Trading courses, educational videos, webinars, seminars, podcasts |
Customer Support | Live chat, contact form, phone: +44-2030978571, email: support@hfm.com, social media |
HFM, a trading name of HF Markets Group, founded in 2010, is a financial broker that provides both individual and institutional clients with online trading services. HFM has been headquartered in Cyprus but serves several global offices in Dubai, South Africa, and offshore entities in St Vincent and the Grenadines, all under respective regulatory authorities.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
HFM is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, HFM acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered.
However, this also means that HFM has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with HFM or any other MM broker.
Pros | Cons |
• Well-regulated | • Maximum leverage up to 1:2000 |
• Wide range of trading instruments | • Regional restrictions |
• Multiple account types | |
• Rich educational resources | |
• Multiple trading platforms | |
• Various customer channels |
Pros:
HFM is a well-regulated company by various reputable authorities, providing a high level of security to traders' funds and personal information.
The company offers a wide range of trading instruments, including forex pairs, cryptocurrencies, commodities, and stocks, with over 3500 instruments to choose from.
There are multiple account types available, including Premium, Pro, Zero, and Cent, catering to the different needs of traders.
HFM offers rich educational resources such as webinars, video tutorials, and daily analysis, providing valuable insights for traders.
The company provides multiple trading platforms including MetaTrader4, MetaTrader5, and their proprietary HFM platform, giving traders a wide range of options to choose from.
HFM offers various customer channels, through multiple channels including email, phone, and live chat.
Cons:
The maximum leverage offered by HFM is up to 1:2000, which can be risky for inexperienced traders.
HFM does not provide services to residents of the USA, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, Vanuatu and EEA countries.
• HF Markets (Europe) Ltd is regulated by Cyprus Securities and Exchange Commission - CySEC, with regulatory license number 183/12
• HF Markets (UK) Limited, its UK entity, under the regulation of the Financial Conduct Authority - FCA in the UK (license number 801701)
• HF Markets (DIFC) Limited, the Dubai entity under regulation of Dubai Financial Services Authority - DFSA (license number F004885)
• HF Markets (Seychelles) Ltd, authorized and offshore regulated by the Seychelles Financial Services Authority (FSA), with Regulatory License No. SD015
HFA appears to be a serious player when it comes to offering protection measures for its clients. They provide market leading insurance, positioning themselves as an industry leader in financial safety.
In addition to this, they maintain their accounts with major banks and ensure the segregation of client funds for added security. They also provide protection against negative balances, helping traders avoid owing more than they've invested.
Along with these measures, HFA implements robust risk management strategies to further safeguard their clients' assets. This shows their commitment to providing a secure and reliable trading environment for their users.
HFM offers a diverse range of more than 3500 instruments across various asset classes, including forex, commodities, metals, bonds, energies, ETFs, indices, cryptos, and stocks. This extensive offering provides traders with a wide range of investment opportunities and the ability to diversify their portfolio. Traders can access multiple asset classes within a single platform, making it convenient and efficient to trade across various markets.
HFM indeed offers a range of accounts to suit various trading styles and levels. They provide the option of Premium, Pro, Zero, and Cent accounts, catering to both novice and experienced traders.
The Pro account requires an initial deposit of $/€100/₦50,000/¥13,000 to get started. Interestingly, HFM does not impose a minimum deposit requirement for its Premium, Zero, and Cent accounts, making them highly accessible options.
Alongside these, they also offer free demo accounts, allowing potential traders to test out their platform and develop their trading strategies before committing real money.
Opening an account with HFM typically involves a few standard steps:
Step 1: Visit the HFM website and click on the “Register” button.
Step 2: Fill out the registration form with your personal information such as country of residence, email address, and password.
Step 3: Once you've completed the registration form, you'll need to submit some documents to verify your identity and address. This generally involves uploading a copy of your passport or national ID for identification and a utility bill or bank statement for proof of address.
Step 4: After identity verification, you can choose your account type. HFM offers Premium, Pro, Zero, and Cent accounts. The Pro account requires a minimum initial deposit of $/€100/₦50,000/¥13,000, while the other three types do not have a minimum deposit requirement.
Step 5: Once you've selected your account type, you can make the necessary deposit using your preferred method of payment.
Step 6: After your deposit is confirmed, your account should be set up and ready for trading.
HFM offers a maximum leverage of up to 1:2000, which can be an attractive feature for traders looking to maximize their potential profits with a smaller investment. This high leverage also provides greater market exposure and trading opportunities, allowing traders to take advantage of price movements in various markets.
However, it is important to note that high leverage also comes with high risk and potential losses. Traders must exercise proper risk management and discipline to avoid margin calls and account liquidation. While this feature may attract experienced traders, it may not be suitable for all, especially beginners or those with limited capital.
HFM caters to different trading preferences with variable spreads across its account types.
Account Type | Spread (Variable) | Commission |
Premium | From 1.2 pips | N/A |
Pro | From 0.5 pips | |
Zero | From 0 pips on forex & gold | |
Cent | From 1.2 pips |
The Premium and Cent accounts offer spreads starting from 1.2 pips. The Pro account has even lower spreads starting from 0.5 pips. The most versatile is the Zero account, which offers spreads from zero pips on forex and gold trading, providing an entry point for cost-effective trading.
However, specific information on the trading commissions is not disclosed directly. You might need to reach out to their customer service or check thoroughly on their website for further details on this.
HFM offers multiple trading platforms including the popular MetaTrader4 and MetaTrader5 platforms as well as their proprietary HFM mobile app.
The MetaTrader4 and MetaTrader5 platforms are widely used in the industry and provide traders with access to a wide range of trading tools and indicators.
The HFM mobile app is relatively new but has an intuitive user interface and advanced charting features. However, it may have limited customization options and a limited selection of third-party plugins and add-ons.
Some traders may find the platforms too complex to use, but overall, HFM's platform dimension offers a good variety of options for traders of all skill levels.
HFM indeed provides a variety of options to make deposit and withdrawal processes simple and flexible for its customers. They accept bank transfers, major credit/debit cards (Visa & MasterCard), and several electronic payment methods such as crypto, Fasapay, Neteller, PayRedeem, Skrill, and Bitpay.
The minimum deposit or withdrawal limit is quite low, set at $5 for most payment methods, which makes it convenient for traders of all sizes.
HFM | Most other | |
Minimum Deposit | $5 | $100 |
They also ensure cost-effectiveness by not charging for most deposits and withdrawals. The processing times for transactions can vary depending upon the chosen method. Importantly, they have a system in place where withdrawals submitted before 10:00am server time are processed the same business day between 7:00am and 5:00pm.
More details can be found in the below screenshots.
HFM is deeply committed to trader education and offers a comprehensive suite of educational resources for traders at all levels. They provide in-depth trading courses that cover a wide range of topics, aiming to enhance traders' knowledge and trading skills.
Their portfolio of educational resources also includes engaging videos that explain intricate trading concepts in an easy-to-understand format.
They hold webinars and seminars (upcoming), giving both novice and experienced traders the opportunity to learn first-hand from industry experts.
Additionally, HFM provides insightful podcasts featuring discussions on various trading topics.
These educational offerings are designed to help traders better understand the markets and make well-informed trading decisions.
HFM offers multiple avenues of customer support to ensure all client queries and concerns are attended to. The live chat feature on their platform allows for real-time assistance, alongside a contact form for more comprehensive inquiries.
They can also be reached through their phone number: +44-2030978571 or via email at support@hfm.com.
For those who prefer social media interactions, they have an active presence on Facebook, Twitter, Telegram, Instagram, YouTube, and LinkedIn where they post regular updates and users can interact with them.
Lastly, for common questions, their FAQ section could be of help as it covers a range of general queries.
Question 1: | Is HFM regulated well? |
Answer 1: | Yes. It is regulated by CYSEC, FCA, DFSA, and FSA (Offshore). |
Question 2: | At HFM, are there any regional restrictions for traders? |
Answer 2: | Yes. HFM does not provide services to residents of the USA, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, Vanuatu and EEA countries. |
Question 3: | Does HFM offer demo accounts? |
Answer 3: | Yes. It offers free demo accounts. |
Question 4: | Does HFM offer industry leading MT4 & MT5? |
Answer 4: | Yes. HFM offers the popular trading platforms MetaTrader4, MetaTrader5, and HFM mobile app. |
Question 5: | What is the minimum deposit required to open an account with HFM? |
Answer 5: | There is no minimum deposit required to open an account with HFM. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
E-Global Review Summary in 10 Points | |
Founded | 2016 |
Registered Country/Region | Luxembourg |
Regulation | FSC (suspicious clone) |
Market Instruments | N/A |
Demo Account | N/A |
Leverage | N/A |
EUR/USD Spread | N/A |
Trading Platforms | N/A |
Minimum deposit | N/A |
Customer Support | Phone, email |
E-Global Trade & Finance Luxembourg S.A. was granted its PSF license to act as a broker to customer trades in financial instruments in 2016. The Luxembourg entity was the logical extension of the Groups business to Europe with products such as Forex4you, Trade4you and Share4you.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Global offers a wide range of market instruments, providing potential opportunities for investors. The availability of copy trading and mobile trading may be appealing to those seeking convenience and alternative trading options.
However, there are concerns regarding E-Global's regulatory status, with reports indicating an unregulated and suspicious clone license. Limited information on the website further raise doubts about the credibility and reliability of E-Global as a financial service provider.
Pros | Cons |
• Availability of copy trading and mobile trading | • Suspicious clone FSC license |
• Concerns regarding regulatory status and scam reports | |
• Limited info on the website |
There are many alternative brokers to E-Global depending on the specific needs and preferences of the trader. Some popular options include:
Forex Club - offers a comprehensive range of trading instruments and educational resources, making it a suitable choice for both beginner and experienced traders.
JFD - provides a transparent and customer-centric trading experience, with access to a wide range of markets and advanced trading platforms.
TeleTrade - offers a user-friendly trading environment with competitive spreads and a variety of account types, making it a good option for traders of all levels.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Based on the information provided, E-Global's license from the British Virgin Islands Financial Services Commission (FSC, License No. SIBA/L/12/1027) raises suspicions of being a clone or unauthorized entity. Additionally, the report of a scam and the lack of sufficient information on their website are red flags. Therefore, it is advisable to exercise caution and consider E-Global as potentially unsafe. It is crucial to conduct thorough research and due diligence before engaging with any unregulated or suspicious financial entity to protect your investments and personal information.
E-Global presents itself as a platform that offers real estate and investments on global markets. However, no more specific information is offered.
Global states on their website that they offer copy trading and mobile trading services to their clients. Copy trading typically allows investors to automatically replicate the trades and strategies of experienced traders, enabling them to potentially benefit from their expertise. However, since E-Global does not provide further details about their copy trading service, it is important for potential users to seek more information directly from the company.
Mobile trading, on the other hand, suggests that E-Global provides a platform or app that allows clients to access and manage their trading accounts using their mobile devices. This can offer convenience and flexibility for traders who prefer to monitor and execute trades on the go.
E-Global provides customer service through phone: +352 26 374 964 and email: info@eglobal-group.com, allowing clients to reach out for assistance or inquiries. Additionally, the company address: 53 Boulevard Royal, 2449 Luxembourg – Eich, Luxembourg – Luxemburg listed in Luxembourg provides a physical location for clients to visit or send correspondence if needed.
Pros | Cons |
• Phone & email support | • No 24/7 customer support |
• No live chat support | |
• No social media support | |
• Unclear support hours |
Note: These pros and cons are subjective and may vary depending on the individual's experience with E-Global's customer service.
On our website, you can see that a report of scam. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
In conclusion, E-Global raises significant concerns regarding its regulatory status, with reports suggesting it operates with an unregulated and suspicious clone license. The limited information available on its website, particularly regarding market instruments and trading platforms, adds to the lack of transparency and raises doubts about the company's credibility. Additionally, the absence of clear details on copy trading and mobile trading further hampers its reputation. It is advisable for traders to exercise caution and explore alternative regulated options in the market.
Q 1: | Is E-Global regulated? |
A 1: | No. E-Global British Virgin Islands Financial Services Commission (FSC, License No. SIBA/L/12/1027) license is a suspicious clone. |
Q 2: | Is E-Global a good broker for beginners? |
A 2: | No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of lack of transparency. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive hotforex and e-global are, we first considered common fees for standard accounts. On hotforex, the average spread for the EUR/USD currency pair is From 1.2 pips, while on e-global the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
hotforex is regulated by CYSEC,FCA,DFSA,FSA. e-global is regulated by FSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
hotforex provides trading platform including PREMIUM,PRO,ZERO,CENT and trading variety including Forex, Metals, Energies, Stocks, Indices, Bonds, Commodities, ETFs, *Cryptocurrencies. e-global provides trading platform including -- and trading variety including --.