Singapore Dollar Forex Trading Accounts
HFM Review
HFM is well-known for superior trading conditions and razor-thin spreads. The broker offer includes leverage up to 1:2000 for South Korean traders. South Korean traders can choose from 5 flexible retail accounts that suit various traders.
- Candice Barnes
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 Withdrawals
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
USD 0 / 0 KRW
Regulators
CySEC, FSC, CFTC
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Since its establishment in 2010, The broker has left a significant impact on the CFD and Forex markets globally. From its Cyprus base, HFM operates in more than 180 countries.
We found that strong compliance with laws by entities like CySEC, FCA, and FSCA (with a long list of licenses globally) supports this growth and guarantees a safe trading environment for all its clients.
The commitment of The broker to provide top-notch instructional materials and customer service is one of its main advantages. The range of account types is appropriate for South Korean traders of all skill levels.
These include the Cent, Zero, Pro, and Premium accounts; we found that each has unique features, including transparent pricing schedules and variable leverage ratios.
Furthermore, because of HFM’s cheap spreads, leverage of up to 1:2000 on forex major pairs, and most accounts’ minimal minimum deposit restrictions, the broker has a compelling offer specifically for South Korean traders, from newbies to pros.
For traders from South Korea, The broker provides a customized experience together with regionalized services and support.
The trading app offers a smooth trading experience with cutting-edge features and tools and is available for iOS and Android. Traders can manage their portfolios efficiently regardless of where they are in the world.
In addition, they provide a selection of bonuses and promotions, like loyalty programs and deposit bonuses, intended to enhance South Korean clients’ overall trading experience.
In how many countries does HFM operate?
The broker works in over 180 countries, serving a wide spectrum of clients.
What regulatory bodies supervise HFM?
The broker is regulated by several authorities, including CySEC, FCA, and FSCA, to provide a secure trading environment.
HFM at a Glance
| 📊 Year Founded | 2010 |
| 🏛 Local Market Regulators in South Korea | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 🌎 Ease of Use Rating | Australia, Ireland, South Africa, Japan, British Virgin Islands, UAE |
| 💻 Bonuses | Yes, deposit bonuses, top-up bonuses, giveaways, affiliate promotions, trader awards, loyalty programs, demo contests, merchandise |
| ✔️ Regional Restrictions | The United States, Canada, Sudan, North Korea, and Syria |
| 📞 South Korean -based customer support? | 24/5 |
| 📱 Trading Platforms | MetaTrader 4, MetaTrader 5, HF App |
| ☪️ Islamic Account | Yes |
| 🛍 Account Types | Cent, Premium, Zero, Pro, Pro Plus |
| ✔️ Base Currencies | USD, NGN, ZAR |
| ✔️ Affiliate Program | Yes |
| 📊 Starting spread | From 0.0 pips EUR/USD (Zero Account) |
| 📈 Maximum Leverage | 1:2000 |
| 📊 Currency Pairs | Yes, 53+ |
| 💳 Minimum Deposit (KRW) | From 0 USD for Account Opening, 6,800 KRW ($5) when using a Credit/Debit Card or Skrill |
| 💻 Inactivity Fee | Yes, $5 after 6 months |
| ⏰ Fees and Commissions | Spreads from 0.0 pips, commissions from $6 per round |
| 💻 Tradable Assets | Trading Instruments Forex, Precious Metals, Energies, Indices, Shares, Commodities, Crypto CFDs, Bonds, ETFs |
| 💻 Languages supported on the Website | English, Portuguese, Spanish |
| 📊Scalping | Yes |
| 📈Hedging | Yes |
| 👉 Open Account | 👉Open Account |
Regulation and Safety of Funds
Regulation in South Korea
HFM is not regulated by South Korea’s Financial Services Commission (FSC). However, HFM’s global regulations are listed in the table below.
Global Regulations
| 📱Registered Entity | 🌎Country of Registration | ✔️Regulatory Entity | 📊Tier | 💳License Number/Ref | 🔎Regulatory Entity |
| HF Markets SA (PTY) Ltd | South Africa | 2015/341406/07 | 2 | FSP 46632 | FSCA |
| HF Markets (Europe) Ltd | Cyprus | HE 277582 | 2 | 183/12 | CySEC |
| HF Markets (Seychelles) Ltd | Seychelles | 8419176-1 | 3 | SD015 | FSA |
| HF Markets Ltd | Mauritius | 094286/GBL | 3 | 094286/GBL | FSC |
| HF Markets (DICF) Ltd | Dubai | – | 2 | F004885 | DFSA |
| HF Markets (UK) Ltd | United Kingdom | 11118651 | 1 | 801701 | FCA |
| HFM Investments Limited | Kenya | – | 2 | 155 | CMA |
Protection of Client Funds
| 🔎Security Measure | 📱Information |
| Segregated Accounts | Yes |
| Compensation Fund Member | Yes |
| Compensation Amount | Compensation Amount 5 million EUR |
| SSL Certificate | Yes |
| 2FA (Where Applicable) | Yes |
| Privacy Policy in Place | Yes |
| Risk Warning Provided | Yes |
| Negative Balance Protection | Yes |
| Guaranteed Stop-Loss Orders | No |
Is HFM regulated in South Korea?
The broker is not regulated by South Korea’s FSC but is regulated worldwide by organizations like CySEC and the FCA.
What is CySEC’s role in regulating HFM?
CySEC assures that the broker meets high financial regulations and safeguards customer assets.
Awards and Recognition
According to the website, the broker has won the following most recent awards:
- Forex-Awards.com was named the “Best CFD Broker Asia” in 2024.
- Forex-Awards.com was honored as the “Best Trading Platform” in 2024.
- Forex-Awards.com was named the “Best ECN / STP Broker” in 2024.
- The European Awards are recognized as the “Best Forex Broker – Global 2022.”
- The International Finance Awards recognized as the “Best Forex Broker South Africa 2022.”
HFM Account Types and Features
We were extremely pleased to find that HFM offers South Koreans several flexible account types that should suit various risk tolerances, trading strategies, and trader experience levels. Join us as we explore each account type and its features for South Koreans.
| 💻 Live Account | 📉 Minimum Dep. | 👉 Open Account | 📊 Leverage | 💰 Commissions |
| ➡️ Cent Account | 0 KRW ($0) | 👉Open Account | 1:2000 | None |
| ➡️ Premium Account | 0 KRW ($0) | 👉Open Account | 1:2000 | None |
| ➡️ Zero Account | 0 KRW ($0) | 👉Open Account | 1:2000 | $0.03 per 1,000 units traded |
| ➡️Pro Account | 136,000 KRW ($100) | 👉Open Account | 1:2000 | None |
| ➡️Pro Plus | 341,000 KRW ($250) | 👉Open Account | 1:2000 | None |
Cent Account
South Koreans taking their trading game from the demo to a real account will benefit from the Cent Account’s beginner-friendly features.
Cent lots, which are 1,000 units or 0.01 of a standard lot, are the smallest trading units available on this account type. This account is great for novice traders as no minimum deposit is needed. Spreads begin from 1.2 pips, and leverage can go up to 1:2000.
Traders who follow Sharia law will appreciate the fact that they can convert this account to an Islamic Account. The Cent Account offers flexibility and simplicity by supporting trading on several platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, and mobile platforms.
Premium Account
The Premium Account strikes a great mix of features and pricing for seasoned South Korean traders. It offers a diverse array of assets outside Forex, including commodities and energy, and gives flexible spreads starting at 1.2 pips.
If you’re not ready to put down a large amount of capital immediately, this account is a good alternative because no minimum deposit is needed.
We believe South Koreans who are at ease with conventional lot sizes and who value a broad portfolio might like this account.
Zero Account
The Zero Account is designed for highly skilled traders in high-frequency trading and scalping. It offers extremely low bid-ask spreads, beginning at 0 pips, on both Forex and Gold.
There is a maximum leverage of 1:2000 and a minimum deposit of 0 KRW ($0), so South Korean traders can increase the size of their trading positions.
The account offers a cheap commission starting at $0.03 per 1,000 units traded on Forex for traders looking to minimize trading expenses on high volumes.
Pro Account
With leverage up to 1:2000 and ultra-low spreads starting at 0.6 pips, the Pro Account is perfect for more seasoned traders. There are no trading commissions, and a minimum deposit of 136,000 KRW ($100) is required.
South Koreans with strategies that require high leverage and minimal trading expenses without commission fees will find this account quite convenient.
Pro Plus Account
For traders from South Korea, the Pro Plus Account offers the best trading conditions. This platform is designed for institutional and experienced traders only and requires a minimum deposit of 341,000 KRW ($250).
Spreads as low as 0.2 pips and leverage as high as 1:2000 are some of its notable features. With this account, you can trade up to 60 standard lots per position at once, enabling high-volume trading.
We believe this account is the best option for professional traders because of the advanced trading tools, priority support, and special market information that traders can access.
Demo Account
To learn more about services for traders in South Korea, we investigated their demo accounts. The $100,000 in virtual funds was a huge selling point for us as it allowed us to experiment with different strategies and position sizes without risking our own money.
Despite all the capabilities and tools it offers, we were pleasantly surprised by how user-friendly the site was as we explored it. One great thing was that we could compare spreads, commissions, and execution times by simply switching between the various account types in the demo.
While analyzing energy, metal, and Forex pairs, we found that the real-time market data and flawless order execution were similar to what we would encounter in a live trading environment.
Regardless of your experience level, the demo account is a great way to hone your trading abilities, try different methods, and build confidence before you go on to a live account. It indicates how committed HFM is to providing South Korean traders with a risk-free learning environment.
Islamic Account
With a swap-free trading option, an Islamic account complies with Sharia law and is available across all of its active accounts. This account does not accrue interest on overnight swaps or rollovers per Islamic law.
With the Islamic account, you can trade indices, commodities, and Forex in real-time with all other trading products on the site. However, we found that instead of the swap cost, The broker might impose an administrative fee on positions maintained for several days to guarantee compliance.
Who is the HFM Premium Account most appropriate for?
The Premium Account is ideal for more experienced traders who want cheaper fees and better trading conditions.
What are the advantages of the HFM Zero Account?
The Zero Account has raw spreads beginning at 0 pips, making it perfect for scalpers and high-frequency traders.
How to open a HFM Account – A Step-by-Step Guide
South Koreans can easily dive into forex and CFD trading with an HFM account by following these steps to register online:
Step 1. Register
Navigate to the official website and select the option to register from the homepage.
Step 2. Complete Application
Complete the online application and include your complete Country of residence, email address, and password.
Step 3. Receive Email
After registration, you will receive a link to your email.
- After completing this process, you will gain access to the MyHF dashboard. This is the administrative center for a demo, live, and other accounts.
- Select your account type from the available account options and upload all Know Your Customer (KYC) documents through the MyHF portal. To be accepted as a retail trader, required at least two documents namely proof of identity and proof of residence.
- Proof of Identification can be a colored scanned copy (in PDF or JPG format) of your current (not expired) passport. If a legitimate passport is not available, a picture identification card or driver’s license with a comparable design can suffice.
How long does HFM account verification take?
Account verification usually takes 1-2 days after providing the relevant papers.
Can traders use e-wallets to make first deposits during registration?
Yes, HFM accepts e-wallets such as Skrill and Neteller for the first deposit.
Broker Comparison
| 🔑Broker | 🥈HFM | 🥇AvaTrade | 🥉 Plus500 |
| 📈Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC | ASIC, FMA, FSCA, FCA, CySEC, FSA, MAS |
| 📉Trading Platform | MetaTrader 4 MetaTrader 5 HFM App | AvaTrade WebTrader AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade | Plus500 mobile and web-based trading platform |
| 💵Withdrawal Fee | No | No | None |
| 🆓 Demo Account | Yes | Yes | Yes |
| ⬇️Min Deposit | 0 KRW ($0) | 133514 KRW ($100) | 133514 KRW ($100) |
| ✳️Leverage | 1:2000 | 1:30 (Retail) 1:400 (Pro) | 1:30 |
| 🔢Spread | 0.0 pips | Fixed, from 0.9 pips | 0.8 pips |
| 💴Commissions | $6 per round turn | None | None |
| ⛔Margin Call/Stop-Out | 50%/20% | 25% – 50% (M) 10% (S/O) | None indicated |
| 📝Order Execution | Market | Instant | None |
| 💰No-Deposit Bonus | No | No | No |
| 🪙Cent Accounts | No | No | No |
| 📊Account Types | Cent Account Premium Account Zero Account Pro Account Pro Plus Account | Retail Live Account Professional Account Option | Standard Live Account |
| 🖋️FSC Regulation | None | None | None |
| ➡️KRW Deposits | None | None | None |
| 💷KRW Account | None | None | None |
| 👥Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 💳Retail Investor Accounts | 5 | 1 | 1 |
| ☪️Islamic Account | Yes | Yes | Yes |
| 📌Minimum Trade Size | 0.01 lots | 0.01 pips | 0.01 lots |
| 📍Maximum Trade Size | 500 lots | Unlimited | 100 lots |
| ⏱️Minimum Withdrawal Time | 10 Minutes | 24 to 48 Hours | 1 working day |
| ⏰Maximum Estimated Withdrawal Time | 10 business days | Up to 10 days | 5 working Up to 7 working days |
| 💶Instant Deposits and Instant Withdrawals | No | No | No |
| 👉 Open Account | 👉Open Account | 👉Open Account | 👉 Open Account |
HFM Trading Platforms
While it seems like a limited selection, the trading platforms are more than sufficient to cater to newbies and seasoned pros in South Korea despite their trading requirements. In the sections below, we delve into these platforms to discover how they can benefit South Korean investors.
MetaTrader 4
Our first impressions of the MT4 platform were positive, and we think it would be a great fit for traders of all skill levels in South Korea.
The various charting choices available on the platform, which include a broad variety of periods and technical indicators, are notable features. South Korean traders who put a lot of faith in technical analysis will find this very useful.
The platform’s one-click trading function can be especially helpful for South Koreans, who must act swiftly in volatile markets. Additionally, South Korean traders who favor algorithmic trading tactics will find MT4’s capability for automated trading using Expert Advisors (EAs) helpful.
MetaTrader 5
For South Korean traders looking for comprehensive and robust trading tools, MetaTrader 5 (MT5) is a good option because it offers more advanced capabilities than its predecessor, MT4.
We found more diversified trading opportunities with MT5’s wider variety of asset classes, which include commodities and equities. Thanks to MT5’s sophisticated order management features, traders in South Korea can put more sophisticated trading strategies into action.
Furthermore, the platform offers netting and hedging solutions to cater to various South Korean trading styles.
The market depth tool and integrated economic calendar in MT5 also provide the facts you need to make choices in real time. Overall, we found a comprehensive trading environment in which we could refine our strategies, make better decisions, and add a competitive edge to our trading.
HF App
South Korean traders who like trading while on the go will find the HF App a great alternative due to its user-friendly design and remarkable mobility.
Our research revealed that the app’s UI is straightforward, providing quick access to account management, trading tools, and market news features.
The app’s sophisticated charting features allow South Korean traders to evaluate markets, keep tabs on their portfolios, and easily execute transactions.
Through push alerts, South Korean traders are also informed of real-time account activity and market moves. Furthermore, traders can improve their abilities from their mobile devices thanks to the HF App’s seamless integration with proprietary training tools.
Is one-click trading available on HFM platforms?
Yes, both MetaTrader 4 and MetaTrader 5 provide one-click trading for rapid and efficient order execution.
Can traders use the HF app to manage their accounts?
Yes, traders may use the HF App to manage their accounts, including deposits and withdrawals, and examine trading history.
HFM Range of Markets
Leverage and Margin
The broker tries to give more trading flexibility while guaranteeing organized risk management by offering South Korean traders high leverage and margin options customized to their needs.
Traders can increase their holdings with very little initial cash by using a maximum leverage of 1:2000 while trading Forex.
We found that the leverage available for index trading is up to 1:200, while it is up to 1:14 for equities CFDs. We must stress that South Koreans need solid risk management strategies as The broker’s leverage can increase their profit potential and their chance to lose funds.
Our research also showed that the account type and the asset class determine the different margins required. For example, a $1,000 margin is needed for a typical $100,000 Forex transaction when using 1:100 leverage.
The broker additionally sets up stop-out levels at 20% and margin call notifications at 50% to keep traders from suffering losses beyond their original deposits.
Because these characteristics exist to reduce risks during times of high market volatility, we believe that South Korean traders can feel more secure when trading.
What is the leverage while trading gold?
The broker provides up to 1:2000 leverage for trading gold.
Can South Koreans trade cryptocurrencies?
Yes, HFM offers trading on 40 cryptocurrency pairings.
Fees
Spreads
Spreads on financial instruments traded through HFM’s various accounts range from very tight to wide.
For instance, no minimum deposit is required for the Cent and Premium accounts, and spreads on popular currency pairings like EUR/USD start at 1.2 pips, which is fairly competitive.
There is a commission cost associated with the Zero Spread account. However, it is designed for traders looking for the lowest spreads possible, with spreads from 0.0 pips.
For experienced traders who want tighter spreads for their trading techniques, the Pro account’s spreads as low as 0.5 pips make it ideal. Lastly, the Pro Plus Account spreads are low and start from 0.2 pips EUR/USD.
Commissions
Commissions charged are transparent and vary by account and trade type. The Zero Account charges South Korean traders $0.03 per 1,000 units traded.
The Cent, Pro Plus, Pro, and Premium Accounts charge wider spreads than commission fees on Forex transactions. This can be a good fit for South Koreans who want a flat charge structure without any hidden expenses.
Fees
Positions kept open beyond 00:00 GMT are subject to swap rates, which we also know as swap or overnight fees. Depending on the difference in interest rates between the two currencies, these rates can be either positive or negative.
The broker swap fees are competitive, and to assist South Koreans in estimating these expenses, the broker offers a swap calculator on their website.
Deposit and Withdrawal Fees
After reviewing withdrawal and deposit costs, we discovered that the broker provides several budget-friendly options. There are no costs associated with using e-wallets like Skrill and Neteller and traditional banking methods to fund accounts for South Korean traders.
However, the fact that traders’ payment processors could impose a processing fee shouldn’t be overlooked, and traders must consider this when they evaluate the broker suitability.
We also found that the withdrawal process is simple, and as long as the minimum amount (of $100) is met, there are no costs for most withdrawal options.
Inactivity Fees
The broker imposes a $5 monthly inactivity fee after six months of non-trading or non-financial activity; this increases to $10 after one year and $10 more for every year after that.
Currency Conversion Fees
Currency conversion fees are another major consideration for South Korean traders who work with several currencies simultaneously, whether they’re trading, depositing, or withdrawing funds.
The broker imposes a conversion fee when trading instruments in a currency other than the account’s base currency. This charge covers the costs of exchanging funds across currencies. While we couldn’t find the exact fee, we believe it’s usually a modest fraction of the transaction value.
What are the spreads for the major currency pairings?
HFM provides spreads as low as 0.0 pips on key currency pairings for the Zero Account.
Are there any commissions for the Premium Account?
No, the Premium Account does not charge fees for forex trading.
HFM Deposits and Withdrawals
The broker offers payment methods unique to every region, giving South Koreans the chance to deposit and withdraw in KRW. Furthermore, HFM segregates all accounts, ensuring that traders always have access to their funds.
| 💳 Payment Method | 🌎 Country | 💴Currencies Accepted | ⏱️Processing Time |
| 💰Bank Wire Transfer | All | Depends on region | 2 – 10 days |
| 🪙Electronic Transfer | South Africa | Depends on region | 10 minutes – 2 days |
| 💳Credit Card | All | Depends on region | 2 – 10 days |
| 💸Debit Card | All | Depends on region | 2 – 10 days |
| 💳Skrill | All | Depends on region | 10 minutes – 2 days |
| 🪙Crypto | All | Multi-currency | Instant – 24 hours |
Deposits
How to Deposit using Bank Wire Step by Step
✅Access your trading account and go to the “Deposit” section.
✅Choose “Bank Wire Transfer” as your preferred deposit method.
✅Enter the desired deposit amount and select the currency (KRW for South Korean traders, if available).
✅Provide your bank account details, such as the name on the account, account number, and any other necessary information.
✅HFM will ensure you receive the essential bank wire instructions and a reference number for your transaction.
✅Initiate the wire transfer from your bank account, and include the reference number provided by.
✅Carefully review the details to ensure accuracy before submitting your deposit request.
✅After The broker receives and clears the funds, the deposited funds will be credited to your trading account within 2-10 business days, depending on your bank’s processing time.
How to Deposit using Credit or Debit Card Step by Step
✅Go to the HFM website, log into your trading account, and go to the “Deposit” section.
✅Choose “Credit/Debit Card” as your preferred deposit method.
✅Provide the desired deposit amount and select the currency.
✅Enter your credit or debit card details, including the card number, expiration date, and CVV/CVC code.
✅Carefully review the details before submitting your deposit request.
✅The team will handle the transaction with your card issuer, and the funds will be promptly credited to your trading account.
How to Deposit using Cryptocurrency Step by Step
✅Access your trading account and go to the “Deposit” section.
✅Select a cryptocurrency for your deposit.
✅HFM will provide a special wallet address to send your cryptocurrency funds.
✅Copy the provided wallet address and initiate the transfer from your cryptocurrency wallet or exchange.
✅After verifying the transaction on the blockchain, your funds will be added to your trading account within 24 hours.
How to Deposit using e-Wallets or Payment Gateways Step by Step
✅Log into your trading account and go to the “Deposit” section.
✅Choose an e-wallet or payment gateway.
✅Give your deposit amount and select a deposit currency.
✅Provide your e-wallet or payment gateway account information.
✅Review the details to ensure everything is correct before submitting your deposit request.
✅HFM will initiate the transaction with the respective e-wallet or payment gateway provider.
✅After completing the transaction, the funds will be deposited into your trading account within a few minutes or up to 2 business days, depending on the provider.
Withdrawals
How to Withdraw using Bank Wire Step by Step
✅Log into your account from the website.
✅Navigate to the withdrawal section on your trading dashboard.
✅Choose “Bank Wire Transfer.”
✅Give your withdrawal amount and currency.
✅Enter your bank account details.
✅Review the information before submitting your withdrawal request.
How to Withdraw using Credit or Debit Cards Step by Step
✅Once you’re logged into your account, go to the withdrawal section.
✅Choose the credit/debit card you used with your most recent deposit.
✅Provide any information and details required.
✅Submit the withdrawal request.
How to Withdraw using Cryptocurrency Step by Step
✅Log into HFM and go to the Withdrawal section, where you can choose your preferred cryptocurrency for the withdrawal.
✅Enter the amount you want to withdraw and select a withdrawal currency.
✅Check the details and submit your request to HFM for processing.
How to Withdraw using e-Wallets or Payment Gateways Step by Step
✅Log in to your trading account and navigate to the “Withdrawal” section
✅Select the e-wallet or payment gateway you want to use (e.g., Skrill, Neteller, PayPal).
✅Enter the amount to withdraw and choose your preferred currency.
✅Provide your e-wallet or payment gateway account details.
✅Review the details carefully to ensure accuracy and submit your withdrawal request.
How long does it take to process deposits?
Deposits are handled immediately or within two business days, depending on the method chosen.
Do South Koreans pay fees for making deposits?
HFM does not impose deposit fees; however, third-party payment processors may.
10 Best Forex Brokers in South Korea
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Educational Resources
Some additional tools and resources available from HFM include the following:
- Trading Course Videos
- Advanced Insights
- Events
- Trading Classes
- Podcasts
- Online Trading Courses
Does HFM provide trading courses?
Yes, The broker provides online trading courses and educational videos to help traders of all levels.
What is Autochartist, and how does HFM use it?
Autochartist is a market analysis tool for identifying trading opportunities; The broker provides this tool to help traders make informed decisions.
HFM Bonuses and Promotions
South Koreans will find a plethora of bonuses and promotions on the website, allowing them to boost their capital and increase their profit potential. We explore each of the bonuses available to South Koreans in the sections below:
- Demo Contest: “Virtual to Real” Demo Contest offers traders a chance to showcase their skills without risk. The monthly competition aims to use demo accounts to reach top spots and win real trading incentives. Winners receive prizes of $2,000, $1,000, or $500, suitable for both novice and seasoned traders. All clients are welcome.
- Olympic Games Hype: The broker offers special bonuses and contests for major athletic events like the Olympic Games, providing traders with cash incentives and unique products. These promotions, particularly for South Korean traders, offer a vibrant and entertaining trading atmosphere during these global events.
- 100% Supercharged Bonus: The 100% Supercharged Bonus doubles the deposit amount for South Koreans to maximize their trading potential. This allows them to increase transaction size and earnings. However, a minimum trading volume is required to receive the full bonus.
- 20% Top-up Bonus: The 20% Top-up Bonus offers traders a competitive edge by doubling their initial investment, enabling larger positions and increased market exposure. To qualify, South Koreans must deposit funds into their HFM account, which is immediately credited.
- Traders Awards 2024: there are the Traders Awards monthly to the top traders in South Korea, offering a Crystal Obelisk and a $1,000 cash reward for the highest percentage gain, promoting excellence and public recognition within the trading community.
- Merchandise: HFM offers special products branded with their logo to dedicated South Korean traders and partners, promoting gratitude by selling high-quality items like apparel, accessories, and electronic devices, enhancing trading satisfaction and loyalty.
- Loyalty Program: The Loyalty Program rewards traders for consistent trading, offering cash, credit incentives, or trading services through HFM Bars earned with every deal. Benefits increase with each level, ranging from Red to Platinum, proportional to trading days and volume.
- Gadget Giveaway: The Gadget Giveaway is a free draw offering high-quality gadgets to all qualified traders to enhance their trading experience and express gratitude for their dedication to the latest cell phones and accessories.
- Elite Affiliate Promotion: The referral program allows affiliates to earn big income by recommending new traders. This tiered incentive scheme, particularly in South Korea, encourages top-performing affiliates to successfully market HFM due to the influence of the large network.
What are the benefits of the HFM Loyalty Program?
The Loyalty Program rewards South Korean traders Bars for each trade, which can be redeemed for cash, credit bonuses, or trading services, thereby improving their overall trading experience.
How can South Korean traders enter the HFM Gadget Giveaway?
South Koreans can enter the Gadget Giveaway by meeting the eligibility requirements, which include active trading and achieving certain trading volumes.
How to Register an Affiliate Account with HFM Step-by-Step
Step 1: “Become an Affiliate”
Go to the official website and look for the “Become an Affiliate” option in the upper right corner of the homepage, near the “Contact Us” option.
Step 2: “I Want to Become an Affiliate”
Visit the partnership page to learn about HFM’s partnership options. This section contains comprehensive information on the benefits and features of being an HFM affiliate in South Korea.
Step 3: Complete the form
After reviewing the partnership programs, click the “I Want to Become an Affiliate” banner to load the registration form.
Complete the form by providing your name, email address, phone number, and country of residence.
Create a safe password for your affiliate account. Ensure that it fits HFM’s security guidelines.
Read the affiliate program’s terms and conditions. Before continuing, click the box indicating that you agree to these conditions.
You might be asked for further information about your marketing experience and the channels you plan to promote HFM. Providing this information guarantees a smooth application process and increases your chances of being approved for the program.
Upload any necessary documents to verify your identity. Ensure that all papers are clear and legible.
After submitting the registration form and relevant documents, wait for HFM to examine your application.
Once your application is approved, HFM will send you a confirmation email. This email will provide information for accessing your affiliate dashboard.
Affiliate Programs
Thus far in our review, we’ve discovered various benefits that HFM offers all types of traders in South Korea. Next, we explore what South Korean partners can expect from this broker when they sign up for the affiliate program.
Features
After conducting a comprehensive evaluation of the HFM affiliate program, we have determined that it presents a reliable and potentially lucrative opportunity for South Koreans who wish to capitalize on their connections in the trading community.
The program offers a highly competitive rate of up to $30 per lot on trades made by clients referred by South Korean affiliates, making it a very attractive option for individuals who can generate significant trading volumes.
An impressive aspect of the program is its daily payment schedule, guaranteeing affiliates a steady and dependable income.
This feature is especially appealing as it allows affiliates to effectively manage their cash flow, which is essential for individuals who depend on this income as their main source of earnings.
In addition, HFM allows South Koreans to earn commissions from the activities of the affiliates they have recruited of up to two levels. We believe that this multi-tiered system can greatly enhance earning opportunities for affiliates in South Korea.
What is the process for becoming an affiliate in South Korea?
To become an affiliate, South Koreans must register on the HFM website, provide the required information, and have their application approved.
Can South Korean affiliates keep track of their performance?
Yes, affiliates can access comprehensive statistics and reporting tools via the affiliate dashboard.
Customer Support
| 🔑Customer Support | 🥇HFM Customer Support |
| ⏰Operating Hours | 24/5 |
| 🔊Support Languages | Multilingual |
| 👥Email Address | [email protected] |
| ☎️Telephonic Support | ✅Yes |
| 🏆The overall quality of HFM Support | 5/5 |
Is there an email address for customer support?
Yes, traders can contact customer service via [email protected].
How does HFM deal with technical issues on its platforms?
HFM provides prompt technical support to traders experiencing platform-related issues.
HFM Social Responsibility
Our extensive evaluations show that The broker is dedicated to making positive changes in social and environmental conditions globally through its corporate social responsibility (CSR) initiatives.
You can find detailed information on their website if you want to know more about CSR initiatives. To access the Corporate Social Responsibility section, navigate to the “Company” tab in the top menu and click “Social Responsibility.”
CSR initiatives are centered around three main areas: education, environment, and well-being. As a reputable broker, HFM’s goal is to connect individuals with educational opportunities and vocational skills on a global scale. Here are some of initiatives:
- The broker is committed to environmental preservation and aiding those impacted by natural disasters. For instance, they made a generous donation to support the efforts to combat the devastating fires in the Amazon rainforest in 2019.
- HFM is committed to promoting well-being by supporting global humanitarian initiatives focused on health and welfare. They significantly contributed to the World Health Organization during the COVID-19 pandemic in 2020.
- The broker is dedicated to supporting various charitable organizations, demonstrating their commitment to positively impacting the world. Some organizations HFM actively supports include the Larnaca Lions Club, the Sophia Foundation for Children in Kenya, the Red Cross, the Rotary Club, and UNICEF.
- The broker demonstrates its dedication to social responsibility by generously donating toys and presents to children’s wards, healthcare facilities, and support associations in Larnaca during the 2017 festive season.
Pros & Cons
| ✅Pros | ❌Cons |
| There are no internal deposit fees charged | HFM is not regulated in South Korea |
| HFM offers several account types to South Koreans | South Koreans cannot register KRW-denominated accounts |
| HFM is an extremely trusted and reliable trading partner with multiple regulations and licenses | The spreads on commission-free accounts can be wider than those charged by competitors with similar accounts |
| HFM offers social trading opportunities to South Koreans | HFM offers social trading opportunities to South Koreans Currency conversion and inactivity fees apply |
| HFM has won numerous industry awards, showcasing its superior services and products | There are limited financial instruments that can be traded compared to rival brokers |
You might also like: AvaTrade Review
You might also like: Pepperstone Review
You might also like: Exness Review
You might also like: BDSwiss Review
You might also like: FBS Review
Our Recommendations on HFM
HFM’s offering is extremely attractive to South Korean traders. However, as part of our comprehensive review, we’ve identified some areas where improvements can be made, especially to cater more to South Koreans:
- Adding KRW currency pairs and South Korean stocks and indices to the list of tradable instruments would appeal to traders interested in local markets.
- Enhance the accessibility of customer support representatives fluent in Korean to provide optimal assistance to South Korean traders in their native language.
- Providing trading accounts in South Korean Won (KRW) would save South Korean traders from the hassle of currency conversion and help them cut transaction costs.
- Offering specialized phone support lines for South Korean clients can improve the availability of immediate support.
- Make sure that deposits and withdrawals through local banks are processed efficiently and without extra charges.
Final Verdict
We found a platform with a good combination of strengths and opportunities for growth when we evaluated HFM, a forex and CFD broker that caters to traders from South Korea.
The broker sets itself apart by offering a wide range of trading accounts, tight and competitive spreads, and substantial leverage options up to 1:2000, making it accessible to traders of all experience levels.
In particular, novice South Korean users will appreciate the demo account option, which provides a risk-free way to test strategies and familiarize themselves with the platform’s functions.
The HF App and MetaTrader 4 and MetaTrader 5 provide South Korean traders with powerful tools for managing their portfolios and placing trades.
Additionally, The broker’s commitment to education, displayed through webinars, tutorials, and market research, is a great resource for new and experienced traders wishing to improve their trading abilities.
However, there were some drawbacks that we noticed. Firstly, the restricted number of tradable instruments offered by HFM can put off traders who are looking for more options than only Forex and CFDs.
Secondly, we confirmed that none of the accounts support KRW as a base currency, and we couldn’t confirm whether KRW is available as a currency for deposits and withdrawals. Additionally, HFM has a restricted selection of trading platforms and does not have its own unique desktop or web-based trading platforms.
However, despite these disadvantages, The broker is still an excellent option for South Korean traders who are primarily interested in trading Forex and CFDs. Reliable customer support, competitive trading conditions, and flexible trading solutions are its strongest points.
Our Insight
Based on my research, HFM is on a mission to offer good client care as well as long educational resources for its clients to make choices backed up by information. For those seeking a versatile and professional-grade trading platform, HFM is dependable and effective.
Frequently Asked Questions
What steps does HFM take to prevent fraudulent activity on its platform?
The broker uses modern security methods, such as encryption and two-factor authentication, to secure South Korean traders’ accounts and data.
How fast can I withdraw money from HFM South Korea?
Withdrawals are processed as they are received. However, the process can take a few days, depending on the withdrawal method and your bank’s internal procedures.
What are the requirements for opening an account?
The broker requires personal and contact information, trading experience, source of income, as well as proof of identity and residential address.
What type of leverage can I obtain from HFM in South Korea?
The broker provides some high leverage of up to 1:2000.
How does the HFM manage tax filing for South Korean traders?
The broker offers transaction statements, but South Korean traders must comply with local tax requirements and disclose their trading revenue.
HFM User Comments and Reviews