HFM Kenya Overview
I started trading with HFM a.k.a HF Markets way back before they were ever known by any of those two names.
To be precise, the year was 2012. I was fresh from college, and HFM was an offshore forex broker known simply as HotForex.
But don't let the simplicity of that name fool you. They were still one of the best forex brokers in the industry, albeit with one major problem for novice forex traders in Kenya - getting KYC documents verified was a real hassle.
Way before they set office in Westlands, Nairobi, and joined the ranks of CMA-licensed forex brokers that we have in Kenya, getting a trading account verified at HotForex was a real hassle. I personally had to submit a bank account statement and lawyer affidavit 3-4 times in order to finally get my trading account verified!
But I digress. Let's let bygone be bygones. Alright?
Today, HF Markets is one of the best, most innovative non-dealing forex exchange forex brokers that are regulated by the Capital Markets Authority of Kenya. And that means a lot to you as a Kenyan trader.
The benefits of HF Markets' CMA compliance include:
- Fund safety: Any money you deposit with the forex broker is kept completely segregated from the company's operational money.
- Convenient account funding: A lot of offshore forex brokers do not offer the option of funding your account using M-Pesa/Airtel Money money. But HFM (and other CMA-regulated forex brokers) do.
- Say not to Scams: This goes without saying, especially if you're a beginner forex trader in Kenya. Your best option is to trade with a CMA-regulated forex broker. The market regulator keeps an updated list of their licensees on their website. Please, for the love of God and unless you're absolutely sure of what you're doing, do not open an account with a forex broker that is not on the CMA's website list.
- Easier KYC Process: A local forex broker understands the dynamics of the Kenyan map. They won't put undue pressure on you to produce a KYC document that states your exact physical location.
- First Class Treatment: Having the regulator's office within reach of every trader in their books scares the wits out of every forex broker, and forces them to treat you with more care and caution. Your money, and trades, are safe with a CMA-licensed forex broker like HF Markets.
So, there we have it, the number #1 reason I'd recommend any Kenyan forex trader to open an account with HF Markets is because they are wholly CMA-licensed with a physical office at the address: Corner of, Office 2-7, The Oval Building, Ring Road Westlands 5th floor Jalaram Rd.
Go ahead and give them a trial.
But remember, regardless of the CMA-license, Online Forex/CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
HFM Kenya Trading Platforms Review
HFM Kenya is the first CMA-regulated forex broker to offer the much coveted WebTrader forex trading platform.
MetaTrader 4 (MT4)
HFM Kenya offers the conventional Meta Trader 4 trading platform from MetaQuotes.
MetaTrader 5 (MT5)
The predecessor to MT4, MT5 is an equally robust trading platform that offers you the opportunity to trade more asset classes apart from just forex and CFDs.
If you plan on trading more than just forex and CFDs at HFM Kenya, consider opening an MT5 trading account.
Proprietary
HFM Kenya offers 2 proprietary trading platforms.
- The HFM App
- The HFM WebTrader
The HFM WebTrader is particularly a truly revolutionary concept.
Because...
imagine this. You're in Nairobi CBD and using the HFM mobile App, you just placed a trade on XAU/USD minutes before the NFP.
But then, and quite unfortunately, those infamous Nairobi phone snatchers have done it to you! Where do you head from there? Do you watch as you lose both your phone and the trade?
I wouldn't.
This is where the HFM WebTrader comes to the rescue. Simply borrow a laptop from a friend or step into a cybercafe, log into the WebTrader, and manage the trade like a pro. Day saved.
Feature Rich Trading Platform
However, HFM's WebTrader is more than just a rescue plan. It is one of the most feature-rich trading platforms available to Kenyan traders.
- More than 100 technical indicators compared to MT5's 31
- 17 chart types available (most other trading platforms only have 3 chart types)
- A built-in economic calendar (don't let a scheduled balance of trade announcement catch you unawares).
- Plus more analytical objects than I can count.
Since its introduction, the HFM WebTrader has become my favorite platform whenever I am on my workstation needing to spend hours analyzing or backtesting the market.
I even dropped my monthly TradingView subscription. HFM's WebTrader gives me everything that TradingView provided, and then some more.
Account comparison
Compare broker account types
A modern, SEO-friendly overview of minimum deposits, spreads, commissions, leverage, and ideal trading fit for each account.
| Account | Min deposit | Spread | Commission | Leverage | Type | Platforms | Suitable for | Features | Bonus |
|---|---|---|---|---|---|---|---|---|---|
HFM Zero Account Account Flexible account built for modern traders. | $25 | 0 | $3 | — | — | — | — | — | — |
HFM Pro Plus Account Account Flexible account built for modern traders. | $100 | 0.2 | None | — | — | — | — | — | — |
HFM Pro Account Account Flexible account built for modern traders. | $50 | 0.5 | None | — | — | — | — | — | — |
HFM Cent Account Account Flexible account built for modern traders. | $0 | 1 | None | — | — | — | — | — | — |
HFM Premium Account Account Flexible account built for modern traders. | $0 | 1.2 | None | — | — | — | — | — | — |
100% Supercharged Bonus Account Account Flexible account built for modern traders. | $50 | 1.4 | None | — | — | — | — | — | — |
HFM Kenya Regulation & Safety in Kenya
Regulatory Licenses
Note: Regulatory information is subject to change. Please verify the broker's regulatory status on their official website or through the respective regulatory authority.
HFM Kenya Safety Features
- Segregated client funds
- Regulatory oversight
- SSL encryption
- Negative balance protection
- CMA Regulated for Kenya
Country Access Restrictions
HFM Kenya does not accept traders from the following jurisdictions:
- United States
- Canada
- Sudan
- Syria
- Iran
- North Korea
- Turkey
Registered Address
Nairobi, Kenya
Corner of, Office 2-7, The Oval Building, Ring Road Westlands 5th floor Jalaram Rd
HFM Kenya Pros & Cons
Advantages
- Regulated by multiple financial authorities including the Capital Markets Authority of Kenya
- Offers a variety of account types suitable for different trading needs
- Provides negative balance protection to safeguard traders
- Access to a wide range of trading instruments including forex, commodities, and indices
- User-friendly trading platforms, including MetaTrader 4 and MetaTrader 5
- Competitive spreads and leverage options
Disadvantages
- Limited educational resources compared to some competitors
- Inactivity fees may apply to dormant accounts
- Withdrawal fees can be high depending on the method used
- Customer support is not available 24/7
- Complex fee structure for some account types
HFM Kenya Final Verdict
HFM Kenya stands out as an excellent choice for Kenyan traders, particularly those who are new to forex trading. The combination of trading features, low minimum deposits, and comprehensive trading features makes it an ideal choice for the Kenyan market.