CFA Franc Forex Trading Accounts
Scam Forex Brokers in Cameroon
HFM Review
Overall HFM is considered low-risk, with an overall Trust Score of 85 out of 100. HFM is licensed by one Tier-1 Regulator (high trust), four Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). In addition, HF Markets offers Cameroonian traders four different retail trading accounts, namely Cent, Zero, Premium, and Pro accounts.
- Kayla Duvenage
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawels
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.8/5
Min Deposit
0 USD / 0 XAF
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
They offer five different retail trading accounts namely Cent, Zero, Premium, and Pro accounts. These accounts offer CFDs on Forex, commodities, bonds, metals, energies, shares, indices, and more, with leverage of up to 1:2000. HF Market’s execution is lightning fast, and swap-free accounts are available.
The broker’s Premium Trader Tools, created by FX Blue Labs, enhance the default MetaTrader suite when combined with signals from the Autochartist plugin.
As part of its Return on Free Margin (ROFM) offering, the company has also added the ability for traders to earn up to 3% interest on unused margins in their accounts.
Distribution of Traders
HF Markets currently has the largest market share in these countries:
Nigeria – 25.21%
Malaysia – 10.84%
Japan – 9.88%
South Africa – 9.41%
Thailand – 6.22%
Popularity among traders
HFM is currently one of the Top 5 Forex and CFD brokers for Cameroonian traders.
Can I access HF Market’s platform from anywhere in the world?
While the platform is available worldwide, users should check local regulations to ensure compliance in their jurisdiction.
Do they offer multilingual support?
Yes, they offer customer service in multiple languages to meet the needs of its diverse global clientele.
At a Glance
| 🏛️ Headquartered | Cyprus |
| 🏛️ Local office in Yaoundé? | No |
| 👍 Accepts Cameroonian Traders? | Yes |
| 📅 Year Founded | 2010 |
| 📱 Cameroonian Office Contact Number | None |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 🔎License Number | South Africa – FSP 46632 Cyprus – 183/12 Dubai – F004885 Seychelles – SD015 United Kingdom – 801701 Mauritius – 094286/GBL Kenya – CMA license 155 |
| ⚖️ BEAC Regulation | None |
| ✴️ Regional Restrictions | The United States, Canada, Sudan, North Korea, and Syria |
| ☪️ Islamic Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Retail Investor Accounts | 4 |
| 🚀 Offers a XAF Account? | No |
| 💻 Dedicated Cameroonian Account Manager? | No |
| 📈 Maximum Leverage | 1:2000 |
| 📈 Leverage Restrictions for Cameroon? | None |
| 💳 Minimum Deposit | 0 USD / 0 XAF |
| 💳 XAF Deposits Allowed? | Yes |
| 💰 Active Cameroonian Trader Stats | Unknown |
| 👥 Active HFM customers | 3.5 million+ |
| 💰 Cameroon Daily Forex Turnover | $5 trillion+ (Overall Forex Globally) |
| 💳 Deposit and Withdrawal Options | Bank Wire Transfer Electronic Transfer Credit Card Debit Card Skrill |
| 💰 Segregated Accounts in Cameroon | No |
| 💻 Trading Platforms | MetaTrader 4 MetaTrader 5 HF App |
| 💰 Tradable Assets | Forex Precious Metals Energies Indices Shares Commodities Cryptocurrencies Bonds Stocks DMA ETFs |
| 🌐 HFM USD/XAF Forex Pair? | No |
| 📈 Offers Cameroonian Stocks and CFDs | No |
| 👨💼 Languages supported on Website | English, Portuguese, Spanish |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/5 |
| 👥 Cameroon-based customer support? | No |
| 💰 Bonuses and Promotions for Cameroonians | Yes |
| ✴️ Education for Cameroonian beginners | Yes |
| 📊 Proprietary trading software | Yes |
| 💰 Most Successful Cameroonian Trader | Unknown |
| ✔️ Is HFM a safe broker for Cameroonian? | Yes |
| ✔️ Rating for HFM in Cameroon | 9/10 |
| ✔️ Trust score for HFM in Cameroon | 85% |
| 🎉 Open an account | Open Account |
Regulation and Safety of Funds
HFM is not currently regulated by the Bank of Central African States (BEAC). However, HF Markets is well-regulated by several reputable market regulators in other countries.
Security while Trading
HFM provides several security measures to protect its traders, which are largely dependent on the jurisdiction of the trader due to the different regulations in place.
For clients based in Europe and the UK, HFM provides a high level of security. Their funds are held in segregated accounts, which means the client’s assets are kept separate from the company’s operational capital.
This is a common practice in regulated markets to protect client funds if the broker becomes insolvent.
Additionally, these clients benefit from a negative balance protection policy, which ensures that traders won’t lose more money than they initially deposited. This is a crucial safeguard against market volatility and the risks inherent in leveraged trading.
The UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) require these protections.
The broker must also submit daily reports on open and closed trades to these top regulators. This requirement helps to ensure that brokers do not manipulate prices.
In the unlikely event that HFM goes under and cannot pay back its clients, customers of the broker’s Cypriot branch are covered up to 20,000 EUR, while the UK entity may guarantee up to GBP 85,000 in compensation.
For clients in the UAE, HFM’s Dubai branch holds a license with the Dubai Financial Services Authority (DFSA), which follows the rules related to Sharia laws, including offering only swap-free accounts.
In Africa, HF Markets is regulated in South Africa and Kenya. While clients in these countries don’t enjoy the same protections as European customers, they are still guaranteed transparency and segregation of their funds from the company’s operating capital.
Is HF Markets a regulated broker?
Yes, HF Markets is a regulated broker. It is licensed and regulated by multiple reputable financial authorities, ensuring the safety and security of client funds and trading activities.
How does HF Markets ensure the safety of client funds?
HF Markets prioritizes the safety of client funds by keeping them in segregated accounts with top-tier banks. Additionally, they participate in investor compensation schemes and adhere to stringent regulatory requirements to provide a secure trading environment.
Awards and Recognition
According to HFM’s website, the company has been recognized for the following honours in the past year:
Best Forex Broker Globally (2022)
Top 100 Companies (2022)
Best Forex Introducing Broker Provider (2022)
Best Forex Trading App (2022)
Best Forex Broker South Africa (2022)
Best Forex Broker Middle East (2022)
Best Forex Broker in Asia (2022)
Best Educational Broker (2022)
Best Forex Partners Program Globally (2022), and many more.
Have HF Markets received any awards for its services?
Yes, HF Markets has received numerous awards and recognition in the financial industry for its exceptional trading services and customer-centric approach.
What kind of awards have HF Markets been recognized for?
HF Markets has been recognized for various awards, including accolades for its customer service, trading platforms, educational resources, and overall excellence in the forex and financial trading industry.
HFM Account Types and Features
Cent Account
The Cent account represents a specific type of trading account that offers the advantage of swap-free trading and using cent lots. A Cent lot, equivalent to 0.01 of a Standard lot or 1,000 units, allows for precise position sizing.
Notably, the margin requirements for Cent accounts are remarkably low, starting from as little as 10 US cents. As a result, this account type proves to be an ideal option for novice traders seeking to transition from demo trading to live trading while minimising financial risk.
Novice traders, in particular, find Cent accounts highly beneficial as they allow them to test their trading skills in a real market environment without committing substantial amounts of trading capital.
Furthermore, experienced traders can utilise Cent accounts to explore new trading instruments, fine-tune strategies, and reduce exposure by allocating less capital to such endeavours.
| 💰 Minimum Deposit Requirement | 0 USD / 0 XAF |
| 📊 Spreads | 1.2 pips EUR/USD |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, HF App |
| 🔧 Trading Instruments | 50+ Forex Pairs and Gold |
| 📲 Execution | Market Execution |
| 📞 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Size | 0.01 lot |
| 📈 Maximum Trade Size | 7 Standard Lots (100,000 base currency) |
| 💸 Maximum Open Orders | 150 lots (Simultaneous) |
| ✔️ Margin Call / Stop-Out | 40% / 10% |
| 💵 Account Base Currency | USD, ZAR, NGN |
| 👥 Personal Account Manager | Yes |
| 💳 Commission Charges | None |
| ✴️ Bonuses Offered | Flexible bonus offering |
| 🎉 Open An Account | Open Account |
Premium Account
The Premium account is specifically tailored for retail traders seeking swap-free trading options, accompanied by reduced spreads, no minimum deposit requirements, and commission-free transactions.
By opening a Premium account, traders gain convenient market access through popular platforms such as MT4, MT5, WebTrader, or the HFM App.
This account type offers a seamless trading experience, enabling retail traders to participate in the financial markets while enjoying favourable trading conditions and the flexibility to choose their preferred trading platform.
| 💰 Minimum Deposit Requirement | 0 USD / 0 XAF |
| 📊 Spreads | From 1.2 pips EUR/USD |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, HF App |
| 🔧 Trading Instruments | All |
| 📲 Execution | Market |
| 📞 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Size | 0.01 lot |
| 📈 Maximum Trade Size | 60 lots |
| 💸 Maximum Open Orders | 500 |
| ✔️ Margin Call / Stop-Out | 50% / 20% |
| 💵 Account Base Currency | Depends on the region |
| 👥 Personal Account Manager | Yes |
| 💳 Commission Charges | None |
| ✴️ Bonuses Offered | No |
| 🎉 Open An Account | Open Account |
Zero Account
The Zero Account represents a notable trading solution that marks the onset of a new era in the foreign exchange market.
With a remarkable feature set, including the absence of a minimum opening deposit requirement and leverage options of up to 1:2000, the Zero Account offers accessibility, cost-effectiveness, and swap-free trading capabilities to cater to the diverse needs of all traders.
One of the standout features of the Zero Account is the provision of RAW, Super-Tight Spreads sourced from leading liquidity providers. These spreads are transparent and devoid of hidden markups, ensuring a fair and competitive trading environment.
Additionally, traders can benefit from commissions as low as $0.03 per 1k lot, further contributing to the cost-effectiveness of this account.
| 💰 Minimum Deposit Requirement | 0 USD / 0 XAF |
| 📊 Spreads | From 0.0 pips EUR/USD |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, HF App |
| 🔧 Trading Instruments | All |
| 📲 Execution | Market |
| 📞 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Size | 0.01 lot |
| 📈 Maximum Trade Size | 60 lots |
| 💸 Maximum Open Orders | 500 |
| ✔️ Margin Call / Stop-Out | 50% / 20% |
| 💵 Account Base Currency | Depends on the region |
| 👥 Personal Account Manager | Yes |
| 💳 Commission Charges | From $6 per round turn on Forex |
| ✴️ Bonuses Offered | No |
| 🎉 Open An Account | Open Account |
Pro Account
The Pro Account is designed to cater to the requirements of experienced traders eager to elevate their trading endeavours to new heights. This account offers distinctive features, including ultra-low spreads, leverage of up to 1:2000, and the absence of commissions.
These advantageous elements collectively contribute to an enhanced trading experience, empowering seasoned traders to explore their full potential and optimise their strategies.
The swap-free nature of the Pro Account further adds flexibility and convenience for traders, allowing them to focus on maximising their trading outcomes without the encumbrance of swap fees.
| 💰 Minimum Deposit Requirement | 100 USD / 60,300 XAF |
| 📊 Spreads | From 0.05 pips EUR/USD |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, HF App |
| 🔧 Trading Instruments | All |
| 📲 Execution | Market |
| 📞 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Size | 0.01 lot |
| 📈 Maximum Trade Size | 60 lots |
| 💸 Maximum Open Orders | 500 |
| ✔️ Margin Call / Stop-Out | 50% / 20% |
| 💵 Account Base Currency | Depends on the region |
| 👥 Personal Account Manager | Yes |
| 💳 Commission Charges | None |
| ✴️ Bonuses Offered | No |
| 🎉 Open An Account | Open Account |
Demo Account
The Demo Account offers a comprehensive simulation of real trading environments, meticulously crafted to mirror market conditions.
HFM’s commitment to aligning the Demo trading environment with the Live trading experience reflects the broker’s core values of Honesty, Openness, and Transparency. This approach ensures a seamless transition when traders open a Live Account and trade in the real market.
With the Demo Account, you can gain valuable trading experience and confidently enter the market. Enjoy the following advantages:
Up to $100,000 Virtual Opening Balance: Start your Demo Account journey with a substantial virtual opening balance of up to $100,000.
Real Market Conditions: Experience trading in a simulated environment that closely resembles the dynamics of the actual market.
Test Trading Strategies: Experiment with various trading strategies and techniques without risk to your real funds.
Unlimited Usage: Take advantage of unlimited practice time on the Demo Account.
Access to Trading Platforms: Trade on the industry-leading MT4 and MT5 Terminals and WebTrader, giving you flexibility and convenience.
To open a Demo Account, follow these steps:
Existing Clients: Log in to your existing myHF area and open a new Demo Account.
New Clients: Register a myHF account first to access the myHF area. From there, you can proceed to open a new Demo Account.
Islamic Account
The Islamic Account is a service offered by HF Markets specifically for Muslim traders. The account is designed to comply with Sharia law by offering swap-free trading. It is a part of HFM’s efforts to cater to a wide range of customer needs and diversify its product portfolio.
Traders can register a live HFM account and contact customer support for an account conversion to Swap-Free.
What types of accounts does the broker offer?
The broker offers a Cent, Premium, Zero, and Pro Account. Furthermore, they also offer an unlimited demo account and an Islamic Account.
What are the key features of the Premium account?
The Premium account features lower spreads, dedicated account managers, and exclusive research and tools.
Overall Rating
- 4.8/5
Min Deposit
0 USD / 0 XAF
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
How to open an Account
To register an account, Cameroonian traders can follow these easy steps:
Step 1 – Click on the “Register” button.
The first step is to navigate to the HFM homepage. Click on the “Register” button on the top right of the page and enter your personal information.
Step 2 – Fill out the form.
You must complete the required personal information to open the account.
HF Markets VS FXTM VS Octa – Broker Comparison
| HF Markets | FXTM | Octa | |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions | CySEC, FSCA, FCA, FSC Mauritius | CySEC, SVG FSA |
| 📱 Trading Platform | MetaTrader 4 MetaTrader 5 HFM App | MetaTrader 4 MetaTrader 5 FXTM Trader | MetaTrader 4 MetaTrader 5 OctaFX App CopyTrade App |
| 💰 Withdrawal Fee | No | Yes | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 0 USD / 0 XAF | 10 USD / 6,030 XAF | 25 USD / 15,075 XAF |
| 📈 Leverage | 1:2000 | 1:2000 | 1:500 |
| 📊 Spread | 0.0 pips | 0.0 pips, Variable | 0.6 pips |
| 💰 Commissions | $6 per round turn | From $0.4 to $2 | None |
| ✴️ Margin Call/Stop-Out | 50%/20% | 40% to 50% (M) 60% to 80% (S/O) | 25%/15% |
| ✴️ Order Execution | Market | Market, Instant | Market |
| 💳 No-Deposit Bonus | No | No | Yes |
| 📊 Cent Accounts | Yes | No | No |
| 📈 Account Types | Cent Account Premium Account Zero Account Pro Account | Micro Account Advantage Account Advantage Plus Account | MetaTrader 4 Habitual Trader MetaTrader 5 Smart Trader |
| ⚖️ BEAC Regulation | No | No | No |
| 💳 XAF Deposits | Yes | Yes | No |
| 📊 XAF Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 📊 Retail Investor Accounts | 4 | 3 | 2 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 👉 Open an account | Open Account | Open Account | Open Account |
Trading Platforms
MetaTrader 4 and MetaTrader 5
The broker recognises that the MT4 and MT5 platforms provide simplicity and ease of use, making them suitable for traders starting their journey in the market.
MT4 is a well-known and widely used trading platform for its reliability, flexibility, and comprehensive features. The MT4 platform provides traders access to a wide range of financial assets, including Forex, commodities, indices, and more.
It provides nine timeframes and 30 technical indicators, allowing traders to conduct extensive market analysis and make sound trading decisions.
MT5, the successor to MT4, provides an improved trading experience by adding new features and expanding capabilities. In addition to Forex and commodities, HFM’s MT5 platform offers access to a broader range of financial instruments, such as stocks and futures.
MT4 and MetaTrader 5 Mobile
HFM’s mobile applications for MT4 and MT5 allow traders to work from anywhere. These apps provide access to features, including nine timeframes, 30 indicators, and interactive currency charts.
Traders can efficiently manage orders, close and modify them, and track real-time profit and loss. Additionally, searching for instruments is made easier compared to the web trader versions of the platforms.
HF App
The upgraded HF App is a portal for both MT4 and MT5 platforms. It boasts a sleek design and an intuitive interface, allowing traders to customise their chart types, views, and trading settings.
They can place orders based on the amount, lots, or units, catering to individual preferences. The app also offers convenient fund transfers, withdrawals, and deposit functionality.
With an integrated economic calendar, traders can stay informed about upcoming events. Furthermore, the HFM App provides access to educational materials, including webinars at various skill levels and news related to traders’ favourite instruments.
What trading platforms are available at HF Markets?
HF Markets offers a range of trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms, as well as the HotForex Mobile App for trading on the go.
Can I access HF Markets’ trading platforms from different devices?
Yes, you can access HF Markets’ trading platforms from various devices, including desktop computers, laptops, smartphones, and tablets. This allows you to trade conveniently and efficiently from wherever you are.
Range of Markets
Cameroonian traders can expect the following range of markets:
Precious Metals
Energies
Spot Indices
Futures Indices
Individual Stocks and Stock CFDs
Commodities
Cryptocurrencies
Bonds
DMA Stocks
ETFs
Does HF Markets offer trading in emerging markets?
Yes, subject to availability and regional regulations, they provide access to various emerging market assets.
Are there any restrictions on trading certain instruments?
Yes, some trading instruments may be restricted due to regulatory requirements or account types.
Broker Comparison for a Range of Markets
| HFM | FXTM | Octa | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | No | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | No |
| ➡️️ Cryptocurrency | Yes | No | Yes |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | No | No |
Overall Rating
- 4.8/5
Min Deposit
0 USD / 0 XAF
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
HFM Trading and Non-Trading Fees
Spreads
The spreads a trader might expect from HFM are affected by their account type, market conditions, and the financial instrument they choose to trade. The following are typical spreads by account type:
Cent Account – from 1.2 pips
Premium Account – from 1.2 pips
Zero Account – from 0.0 pips
Pro Account – 0.5 pips
Commissions
Commissions only apply to the HFM Zero Account.
Overnight Fees, Rollovers, or Swaps
The broker applies overnight fees, also known as swaps, to various trading instruments based on market conditions and rates received from price suppliers. Here’s a summary of the overnight fees for different asset classes:
Individual Stocks:
- Daily updates of swaps based on market circumstances and rates from price suppliers.
- All positions are subject to these swaps, with triple swaps applied on Wednesdays.
Precious Metals (XAU and XAG):
- Daily updates of swaps in response to market changes and rates from price suppliers.
- Cameroonian traders must note that triple swaps are applied on Wednesdays.
- Swaps for XAU and XAG are indicated as 1 pip per lot.
Energy:
- Daily alterations of energy swaps based on market circumstances and prices from price providers.
- Triple swaps are applicable on Wednesdays.
- USOil and UKOil swaps are in US Dollar values, and traders should note this information.
Other Instruments (Indices, Bonds, DMA Stocks, ETFs, Cryptocurrencies):
- Daily modifications of swap rates based on market circumstances and rates acquired from price providers.
- All positions are subject to these swaps, with quadruple swaps applied on Fridays.
Deposit and Withdrawal Fees
The broker ensures that all deposit and withdrawal methods available are completely free of charge. However, it is worth noting that deposits exceeding $100 are exempt from bank wire transfer fees.
For Cameroonian traders, it is important to know that deposits made through bank wire transfers below the value of 61,000 XAF or the equivalent of 100 USD based on the current exchange rate between USD and XAF may incur fees.
Inactivity Fees
HF Markets applies a $5 inactivity fee to dormant accounts after 6 months.
Currency Conversion Fees
Cameroonian traders who deposit or withdraw in XAF could face currency conversion fees.
What trading fees does the broker charge?
The broker charges competitive trading fees, including spreads and commissions, depending on the account type and trading instrument. You can find detailed information about trading fees on their website.
Are there any non-trading fees associated with the broker?
While they offer a transparent trading environment, it’s essential to review their terms and conditions to understand any potential non-trading fees, such as withdrawal charges or inactivity fees, that may apply to your account.
HFM Deposits and Withdrawals
The broker offers deposit and withdrawal methods according to each trader’s country of residence. The following is not a complete list of payment methods:
Bank Wire Transfer
Electronic Transfer
Credit Card
Debit Card
Skrill
How long do the Deposits take?
The deposits take a few minutes to a few days, depending on the chosen payment method.
Are there any fees for deposits and withdrawals?
Yes, the broker may charge fees for certain payment methods depending on the minimum deposit and withdrawal.
How to Deposit Funds
To deposit funds to an account, Cameroonian traders can follow these steps:
Step 1 – Log into your account.
Log in to your trading account on the HFM website using your credentials.
Step 2 – Go to the deposit section.
Locate the “Deposit” or “Fund Your Account” option once logged in.
Step 3 – Choose a deposit method.
HFM accepts deposits via bank wire transfer, credit/debit cards, e-wallets, and other online payment systems. Choose the method that works best for you.
Step 4 – Choose a deposit amount.
Enter the amount you want to put into your trading account. Check to see if there are any minimum deposit requirements.
Fund Withdrawal Process
To withdraw funds from an account, Cameroonian traders can follow these steps:
Step 1 – Log into your account.
Log in to your HFM account.
Step 2 – Go to the withdrawal section.
Navigate to the account management or banking page. Look for an option labelled “Withdraw,” “Withdraw Funds,” or something similar.
Step 3 – Choose a withdrawal amount.
Enter the amount you wish to withdraw. Confirm your withdrawal and wait for the funds to be transferred to your bank account or other withdrawal methods you have set up.
Education and Research
HF Markets offers the following Educational Materials to Cameroonian traders:
HFM Educational Videos
Training Course Videos
Forex Education
eCourses
Live Webinars
Events
Podcasts
The broker also offers Cameroonian traders the following additional Research and Trading Tools:
HF App
VPS Hosting Services
Premium Trader Tools
AutoChartist Tools
Trading Calculators
myHF Client Area
Advanced Insights
Economic Calendar
Traders’ Board
Auto Trading through MQL5
Forex News presented by FxStreet
One-Click Trading
Events
HFM Exclusive Analysis
What educational resources do they offer to traders?
The broker provides a comprehensive range of educational materials, including webinars, seminars, video tutorials, and trading guides, to enhance traders’ knowledge and skills across various aspects of trading.
How does the broker conduct market research and analysis?
The broker employs experienced analysts who utilize technical and fundamental analysis to provide regular market updates, analysis reports, and insights, helping traders stay informed about the latest market trends and opportunities.
Bonuses and Promotions
The broker offers the following bonuses and promotions:
Top-Up Bonus: Get a 20% bonus on every transfer to your account up to R90,000. This bonus is available to all clients, and profits can be withdrawn.
HFM Gadget Giveaway: Follow HFM on social media to win exciting gadgets such as PlayStation 5, iPhone 14 Pro Max, GoPro Hero 11, and more. Stay updated for upcoming giveaways!
$1,000 Cash Prize Every Month: The trader with the highest gain wins a $1,000 cash prize, an obelisk award, and entry into the HFM Hall of Fame. The top 10 traders will also be featured on the HFM Traders Awards page.
HFM Trading Rewards Loyalty Program: Earn HFM Bars based on your trading activity. Reach different reward levels (Red, Silver, Gold, Platinum) and exchange Bars for cash or trading services.
Virtual To Real Demo Contest: Participate in the ‘Virtual to Real’ Demo Contest and compete for cash prizes on demo accounts. Master your trading skills with no risk and win real money prizes.
HFM Merchandise: As a token of appreciation, HFM offers branded merchandise, including a black cap, notepad, t-shirt, pen, keyring, and stress ball. These items are provided free of charge to valued traders and partners.
How can I participate in the promotional offers?
Customers can take advantage of the promotional offers by following the instructions on the platform or contacting customer service.
Are there any restrictions on withdrawing bonus funds?
Yes, the bonus funds may have specific withdrawal conditions, such as trading volume requirements; clients should carefully review the terms.
Affiliate Program Features
The broker offers a comprehensive Affiliate Program designed to cater to online and offline affiliates in the Forex market.
With a top commission structure and tailored products, HF Markets can help affiliates achieve revenue expectations without requiring extensive programming or administrative knowledge.
Collaboration Types
Affiliates: Join HFM’s ultimate Affiliate Program and earn top commissions for referring clients to HFM. Benefit from the best commission structure and customised products to meet your revenue goals.
Sub-Affiliates: Individuals with online marketing expertise or successful websites can earn commissions from introducing new clients to HFM. Earn not only from your clients’ trading but also from the trading of your sub-affiliated clients.
Affiliate Program Benefits
Competitive Conditions: Attract more clients with our competitive trading conditions, including the best possible spreads. Your customers will benefit from favourable trading terms.
Unlimited Commissions: As an HFM Affiliate, there are no limits on the number of clients you can attract. Set your goals, expand your business, and increase your earnings without any restrictions.
Earn per Standard Lot: Earn a commission of 6 USD per standard lot for clients using the HFCopy account. Take advantage of this lucrative opportunity to generate income based on your clients’ trading activity.
Business Growth Opportunities: With the HFM Affiliate Program, you can scale your business and achieve your desired growth. Leverage our resources and support to maximise your earning potential.
Additional Affiliate Program Features
Roll-ups: Professional event roll-up banners are available in customisable sizes.
Tutorials: Engage potential clients with free online video tutorials on Forex trading.
Print Ads: Increase brand awareness and attract more clients with creative print ads in offline media.
Logos: Access standard and vector HFM logos in various sizes and formats.
Avatars: Utilise branded avatars and wallpapers to enhance your online presence.
Outdoors: Professionally designed billboard ads to reach an offline audience.
Rebates: Easily pay rebates to your clients’ trading accounts with a click using an advanced system.
Educational Seminars: Attend local educational seminars hosted by HFM to enhance your knowledge of financial markets.
Branding Guidelines: Learn how to use the HFM brand effectively with a comprehensive branding guide for optimal results.
What commission structure does the affiliate program offer?
Depending on the agreement, the affiliate program offers a variety of commission structures, including CPA, revenue share, and hybrid models.
How can I track my referrals and earnings in the affiliate program?
The broker provides affiliates with a dedicated dashboard to track referrals, earnings, and marketing opportunities.
How to open an Affiliate Account
To register an Affiliate Account, Cameroonians can follow these steps:
Step 1 – Go to the affiliate section.
Visit the Official HFM Website. Navigate to the “Affiliates” section on the main toolbar to better understand the HFM Affiliate Program.
Step 2 – Select “Become an Affiliate”
Learn about the different types of affiliates that HFM is open to working with. Once familiar with the options, click on the green banner that says “Become an Affiliate” to get started.
Step 3 – Complete the Form for Registration.
Select the type of affiliate you wish to be, whether an individual or a corporation. This choice will align with your specific affiliation requirements and goals. Fill in the necessary areas with your personal information. Enter accurate details to complete this section of the registration process.
Customer Support
| ⏰ Operating Hours | 24/5 |
| 👥 Support Languages | Multilingual |
| 💬 Live Chat | Yes |
| 💻 Email Address | [email protected] |
| 📱 Telephonic Support | Yes |
| ✔️ The overall quality of Admirals Support | 4/5 |
How can I contact their customer support?
The broker customer service is available 24 hours a day, five days a week via phone, email, live chat, and the client portal.
Can I get technical support for trading platforms?
HF Market’s customer service responds within a few minutes on average, though response times may vary depending on the query and channel used.
Corporate Social Responsibility
HFM’s Response to the Covid-19 Pandemic
The broker has significantly contributed to the World Health Organization’s efforts in combating the Covid-19 pandemic. The company has provided substantial financial support and played a crucial role in coordinating operations to minimise the impact of the pandemic on vulnerable regions.
Partnership with The Rainforest Alliance
HFM Group has demonstrated its commitment to environmental preservation by making a philanthropic contribution to The Rainforest Alliance.
This global non-profit organisation supports indigenous communities in their fight against the devastating fires that have ravaged the Amazon rainforest, known as the “lungs of the Earth.”
Support for the Larnaca Lions Club
HF Markets has generously supported the Larnaca Lions Club, a Lions Club International regional chapter. Through financial contributions, the broker has helped empower local communities and positively impact young individuals’ lives.
Holiday Giving Initiative
In 2017, HFM’s staff initiated a heart-warming holiday-giving program. The company provided cash aid and positive reinforcement to a select group of young people in Larnaca, Cyprus. This initiative aimed to bring joy and create a memorable experience for the recipients during the holiday season.
How does the broker contribute to environmental sustainability?
The broker contributes to environmental sustainability by using energy-efficient practices, reducing waste, and supporting environmentally friendly initiatives.
Does HF Markets support any charitable organizations or causes?
Yes, they provide VPS hosting to enable smooth and uninterrupted trading, especially for automated trading strategies.
Verdict
Overall HF Markets has been well received by its user base, with a high overall rating of 4.67 stars from 33 reviews, demonstrating that most customers are generally satisfied with their experience.
Furthermore, most users will appreciate the trading conditions, reliability, and variety of trading tools that HFM provides.
10 Best Forex Brokers in Cameroon
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Pros and Cons
| ✔️ Pros | ❌ Cons |
| HFM is an established broker with over 10 years of experience and has won numerous industry awards, signifying their reliability and good service. | While HFM operates in numerous jurisdictions, the protections and benefits can vary. For instance, European and UAE customers are offered protections like the negative balance protection policy and compensation schemes in case of the broker’s insolvency. These protections are not offered to customers in Africa and other jurisdictions. |
| They are regulated by several well-respected financial authorities, such as the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), providing security for clients’ funds. | There are limited deposit and withdrawal methods per region. |
| Some jurisdictions offer competitive trading conditions, including comparatively low spreads of around 0.0 pips on EUR/USD and high leverage up to 1:2000. | |
| They have a low minimum deposit requirement, which makes them accessible to a wide range of traders. For instance, the minimum deposit for a Pro Account is $100. | |
| HFM provides a variety of account types and convenient platform options3and supports a wide range of deposit and withdrawal methods. |
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Frequently Asked Questions
Is HFM regulated?
Yes, the broker is known to be regulated by FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA. These regulatory bodies help ensure that the broker operates within legal frameworks and adheres to certain standards of conduct.
Does HFM provide educational resources for traders?
Yes, the broker offers educational resources such as webinars, tutorials, and market analysis to help traders enhance their knowledge and skills.
Does HFM offer a demo account?
Yes, they provide a demo account that allows traders to practice and familiarise themselves with trading platforms and strategies without risking real money.
How long does it take to withdraw?
According to the payment method, withdrawal times vary between 10 minutes and several days.
Can I trade cryptocurrencies with HFM?
Yes, HF Markets offers trading in cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, among others.
What are the deposit methods accepted?
HF Markets accepts various deposit methods, including bank transfers, credit/debit cards, and popular e-wallets like Skrill, among others, according to each trader’s region.
Does HFM have Nasdaq 100?
Yes, HFM offers Nasdaq under “US Tech 100” as spot contracts on Indices and Futures contracts on Indices.
What trading platforms does HFM offer?
HFM offers popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which provide advanced trading features and tools.
Is HFM Safe or a Scam?
HF Markets is safe. The broker is a globally recognised brokerage firm with a reputable presence in the industry.
How do I open an account with HFM?
To open an account, visit their official website and follow the registration process, providing the required personal information.
Does HFM have VIX 75?
Yes, HFM offers access to the Volatility 75 index, with spreads from 0.14 pips.
