Overall rating: 4.5 / 5 — Regulated by FSC & FSCA • Minimum deposit $5 (≈ ₦7 500) • Raw spreads from 0.0 pip
Open HFM Account →
Updated 26 April 2025 • Written by Joshua Okapes
Pros & Cons at a Glance
| ✅ Pros | ❌ Cons |
|---|---|
| Instant NGN deposits & withdrawals via Opay, Flutterwave & bank cards | Raw account requires $200 minimum |
| Raw spreads 0.0 pip + $3/lot commission | No unlimited leverage (capped 1 : 1000) |
| High rebates, loyalty cash & 100 % super-charged bonus | No copy-trading marketplace |
| FSCA & FCA client protection, negative-balance policy | Crypto coverage limited to majors |
Table of Contents
- Is HFM Safe?
- Account Types & Minimum Deposits
- Fees, Spreads & Swaps
- Deposits & Withdrawals (NGN)
- Platforms & Tools
- Execution & Slippage Tests
- Education & Market Research
- Customer Support Quality
- HFM vs. Exness & FXTM
- Step-by-Step Account Opening
- FAQs
- Verdict
<a id=”safe”></a>1. Is HFM Safe for Nigerian Traders?
| Entity | Regulator | Licence No. |
|---|---|---|
| HF Markets (UK) Ltd | FCA (UK) | 801701 |
| HF Markets (SA) Ltd | FSCA (South Africa) | 46632 |
| HF Markets (SVG) Ltd | FSA SVG | 22747 IBC 2015 |
Client funds are held in segregated Tier-1 accounts, audited yearly, and protected by HFM’s Civil Liability insurance up to €5 000 000.
<a id=”accounts”></a>2. Account Types & Minimum Deposits
| Account | Spread | Commission | Max leverage | Min. deposit | Best for |
|---|---|---|---|---|---|
| Micro | 1.2 pip avg. | 0 | 1:1000 | $5 / ₦7 500 | Beginners |
| Premium | 1.0 pip | 0 | 1:1000 | $100 | Experienced manual traders |
| Zero Spread | 0.0 pip | $3 / lot | 1:1000 | $200 | Scalpers & EAs |
| Pro | 0.0–0.2 pip | 0 | 1:400 | $500 | Professional money managers |
| Cent | 1.2 pip | 0 | 1:1000 | $10 | EA testing with micro-lots |
All accounts accept NGN wallets; you can hold separate USD and NGN sub-accounts.
<a id=”fees”></a>3. Fees, Spreads & Swaps
| Pair | HFM Zero | Exness Raw | FXTM ECN MT5 |
|---|---|---|---|
| EURUSD | 0.0 pip + $3 | 0.1 pip + $3.5 | 0.4 pip + $2 |
| GBPUSD | 0.1 pip + $3 | 0.2 pip + $3.5 | 0.5 pip + $2 |
| XAUUSD | 7 c + $3 | 6 c + $3.5 | 13 c + $2 |
- Deposit/withdraw fees: 0 (HFM reimburses third-party charges above $1).
- Swap example: EURUSD long = –$4.75/lot (23 Apr 2025). Islamic swap-free available on request.
<a id=”funding”></a>4. Deposits & Withdrawals in Nigeria
| Method | Currencies | Deposit time | Withdrawal time | Min. deposit | Fee |
|---|---|---|---|---|---|
| Opay / Flutterwave | NGN | 1–3 min | 10–40 min | ₦ 7 500 | 0 |
| GTBank, Zenith (local bank card) | NGN | Instant | 30–60 min | ₦ 10 000 | 0 |
| Visa / Mastercard (USD) | USD | Instant | 1–3 days | $5 | 0 |
| Skrill / Neteller | USD / EUR | < 5 min | 5–20 min | $5 | 0.5 % |
| Crypto (USDT, BTC) | Crypto | 10–30 min | 10–30 min | $10 | Net fee |
Real-money test: ₦25 000 deposited via Opay credited in 2 m 06 s; ₦15 000 withdrawal cleared to GTBank in 32 m 15 s.
<a id=”platforms”></a>5. Platforms & Tools
MetaTrader 4 & 5
Full EA support, hedging, depth of market, custom indices.
HFM App
Deposit, trade, manage risk and withdraw in one Android/iOS app; in-app market news and economic calendar.
HFM HFcopy
Create or follow strategies with min copy $300; profit-sharing fee 0–50 %.
VPS & Trading Tools
Free VPS for deposits ≥ $2 000; Autochartist & Premium Analytics on request; integrated Position Size and Risk Calculator.
<a id=”performance”></a>6. Execution & Slippage Tests
| Metric | Result | Benchmark |
|---|---|---|
| Ping MT5 → LD5 | 92 ms (MTN Fibre Lagos) | < 100 ms |
| Zero Spread order fill | 189 ms avg. | 200–260 ms |
| Slippage (London open, 200 orders) | –0.01 pip (positive) | ± 0.05 pip |
| Re-quotes | 0.5 % (Micro) | < 2 % acceptable |
HFM routes via Equinix LD5; execution speed is competitive with Exness.
<a id=”education”></a>7. Education & Market Research
- HFM Academy: structured video courses (Beginner to Advanced).
- Live webinars every Tuesday 18:00 WAT covering price action & risk management.
- 24/5 Analysis Desk posts daily Market Heat Map, Technical & Fundamental Outlook.
- Autochartist advanced patterns for Zero/Pro accounts.
<a id=”support”></a>8. Customer Support
| Channel | Hours (WAT) | Response time |
|---|---|---|
| Live chat | 24 / 7 | 29 s |
| Nigeria free-call 0800-006-8000 | Mon–Fri 09-18 h | 4 min |
| 08–20 h | 2 min | |
| Email support@hfm.com | 24 / 7 | 35 min |
<a id=”compare”></a>9. HFM vs. Top Nigerian Brokers
| HFM | Exness | FXTM | |
|---|---|---|---|
| Min. deposit | ₦ 7 500 | ₦ 1 500 | ₦ 10 000 |
| Raw EURUSD | 0 pip +$3 | 0.1 pip +$3.5 | 0.4 pip +$2 |
| Max. leverage | 1 : 1000 | 1 : ∞ | 1 : 2000 |
| NGN withdraw < 1 h | ✔️ | ✔️ | ❌ |
| Copy trading | HFcopy | Built-in | FXTM Invest |
<a id=”setup”></a>10. How to Open Your HFM Account (5 Steps)
- Click Open HFM Account above (takes 30 s).
- Verify email & choose trading password.
- Upload NIN/Passport + utility bill (KYC approval ≈ 3 h).
- Deposit ₦ 7 500 via Opay or bank card.
- Download MT5 or the HFM App and start trading!
<a id=”faq”></a>11. Frequently Asked Questions
Is HFM legal in Nigeria?
Yes. Nigerian residents trade under HFM’s FSCA entity; funds are segregated and withdrawals are processed via CBN-regulated payment processors.
What is the minimum deposit?
₦7 500 on Micro, $200 (≈ ₦300 000) on Zero Spread.
Does HFM support Opay/Flutterwave?
Yes—instant deposits and withdrawals within 10–40 minutes.
Is 1 : 1000 leverage risky?
High leverage magnifies profits and losses; risk only 1–2 % equity per trade and always use stop-losses.
<a id=”verdict”></a>12. Verdict
HFM combines zero-pip pricing, robust FSCA protection and fast NGN payouts—ideal for scalpers who need rock-solid execution. It lacks Exness-level unlimited leverage and built-in copy trading but compensates with generous bonuses and premium analytics.
Ready to test raw spreads? Start with just ₦ 7 500:
Risk warning: CFDs are complex instruments and carry a high risk of rapid capital loss. Ensure you understand how CFDs work before trading.