HF Markets Review

HF Markets, formerly known as Hotforex is considered average-risk, with an overall Trust Score of 9 out of 10. HF Markets is regulated by HFM Investments Limited. HotForex is authorized by one tier-1 regulator (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust). HF Markets is currently not regulated by the Bank of Tanzania.

Updated : July 21, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets


Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons


Overall Rating

Min Deposit




Trading Desk

MetaTrader 4 and MetaTrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

HF Markets Overview

HotForex Review Overview 👉 Overall, HF Markets (previously HotForex) is considered low-risk, with an overall Trust Score of 85 out of 100. HF Markets is licensed by one Tier-1 Regulator (high trust), four Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). HF Markets offers five different retail trading accounts namely a Micro Account, Premium Account, HFCopy Account, Zero Spread Account, and an Auto Account.   👉 HF Markets accepts Tanzanian clients and has an average spread from 0.0 pips with $6 to $8 commission round turn. HF Markets has a maximum leverage ratio up to 1:1000 and there is a demo and Islamic account available. MT4, MT5 and HF App platforms are supported. HF Markets is headquartered in Cyprus and regulated by FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA.   👉 HF Markets is a Forex broker established in 2010 that focuses on providing trading services and catering to both corporate and retail customers. In the trading sector, HF Markets has an amazing reputation among its clients and has delivered exceptional customer service.   👉 HF Markets is highly recommended by reviewers and offers a variety of benefits that are exclusive to the platform in question. It features a stable trading market, one of the lowest commissions and costs in the retail Forex sector, and superior customer service.   👉 If you are contemplating joining the market, HF Markets is an excellent option for familiarizing yourself with the sector and achieving your objectives quickly. This HF Markets review for Tanzania will provide local retail traders with the details that they need to consider whether HF Markets is suited to their unique trading objectives and needs.  

HF Markets Distribution of Traders

HotForex Review Distribution Of Traders 👉 HF Markets currently has the largest market share in these countries: ➡️ South Africa – 94.9% ➡️ Nigeria – 1.6% ➡️ Netherlands – 0.79% ➡️ Morocco – 0.76% ➡️ Botswana – 0.52%  

Popularity among traders who choose HF Markets

🥇 HF Markets is a well-known broker across the entirety of Africa. Even though it does not hold a dominant position in the derivatives market in Tanzania, HF Markets is consistently ranked as one of the Top 10 brokers for Tanzanian traders, regardless of the level of trading experience they possess or the trading strategies they prefer.

HF Markets At a Glance

🏛 HeadquarteredCyprus
🏙 Global OfficesSeychelles, South Africa, Dubai, UK, Kenya
🌃 Local Market Regulator in TanzaniaBank of Tanzania (BoT)
✅ Foreign Direct Investment in Tanzania$0.99B in 2019
✔️ Foreign Exchange Reserves in Tanzania6.714 billion US dollars in 2021
🏛 Local office in Dodoma?No
✅ Governor of SEC in TanzaniaNone, Benno Ndulu is the Central Bank Governor in Tanzania
✔️ Accepts Tanzanian Traders?Yes
🗓 Year Founded2019
📞 Tanzanian Traders Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
1️⃣ Tier-1 Licenses• Financial Conduct Authority (FCA)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange Commission (CySEC)
3️⃣ Tier-3 Licenses• Financial Services Authority (FSA)
• Financial Services Commission (FSC)
🪪 License Number• South Africa – FSP 46632
• Cyprus – 183/12
• Dubai – F004885
• Seychelles – SD015
• United Kingdom – 801701
• Mauritius – 094286/GBL
• Kenya – CMA license 155
⚖️ BoT RegulationNone
💸 Regional RestrictionsThe United States, Canada, Sudan, North Korea, and Syria
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts5
✔️ PAMM AccountsNo
📊 Liquidity ProvidersBarclays UK, BNP Paribas, and others
💰 Affiliate ProgramYes
📉 Order ExecutionMarket
📈 Starting spread0.0 pips
📉 Minimum Commission per Trade$3 to $4
💸 Decimal Pricing5th decimal pricing after the comma
📞 Margin CallBetween 40% to 50%
🛑 Stop-OutBetween 10% and 20%
📊 Minimum Trade Size0.01 lots
📉 Maximum Trade Size60 lots
📈 Crypto trading offered?No
✅ Offers a TZS Account?No
✔️ Dedicated Tanzanian Traders Account Manager?No
⬆️ Maximum Leverage1:1000
📈 Leverage Restrictions for Tanzania?No
📉 Minimum Deposit (TZS)11,600 TZS or an equivalent to $5
💵 Tanzanian Shilling Deposits Allowed?Yes
📱 Active Tanzanian Trader Stats250,000+
👥 Active Tanzanian-based HF Markets customersUnknown
🔄 Tanzania Daily Forex TurnoverUnknown, Forex overall is $6.6 Trillion
💰 Deposit and Withdrawal Options• Bank Wire Transfer
• Electronic Transfer
• Credit Card
• Debit Card
• Skrill
📉 Minimum Withdrawal Time10 Minutes
📈 Maximum Estimated Withdrawal Time10 business days
💵 Instant Deposits and Instant Withdrawals?No
✔️ Segregated Accounts with Tanzanian Banks?No
💻 Trading Platforms• MetaTrader 4
• MetaTrader 5
• HF App
📉 Tradable Assets• Forex
• Precious Metals
• Energies
• Indices
• Shares
• Commodities
• Cryptocurrencies
• Bonds
• Stocks DMA
• ETFs
💰 Offers USD/TZS currency pair?No
📊 USD/TZS Average SpreadN/A
✅ Offers Tanzanian Stocks and CFDsNo
✔️ Languages supported on the WebsiteEnglish, Portuguese, Spanish
📱 Customer Support LanguagesMultilingual
✔️ Copy Trading SupportYes
👥 Customer Service Hours24/5
📞 Tanzanian-based customer support?No
💵 Bonuses and Promotions for Tanzanian TradersYes
📚 Education for Tanzania beginner tradersYes
📱 Proprietary trading softwareYes
🗣 Most Successful Tanzanian TraderUnknown
✅ Is HF Markets a safe broker for Tanzanian Traders?Yes
✔️ Rating for HF Markets Tanzania9/10
🥇 Trust score for HF Markets85%
👉 Open An Account👉 Open Account

HF Markets Regulation and Safety of Funds

HotForex Review Regulation And Safety

HF Markets Regulation in Tanzania

👉 HF Markets is well-established in Africa but does not currently hold any local regulations in Tanzania.


HF Markets Global Regulations

👉 The following companies make up the HF Markets Group of enterprises, and HF Markets is the trading brand that represents the HF Markets Group of companies:

➡️ HF Markets SA (PTY) Ltd in South Africa.

➡️ HF Markets (Europe) Ltd in Cyprus.

➡️ HF Markets (DIFC) Ltd in Dubai.

➡️ HF Markets (Seychelles) Ltd. in Seychelles.

➡️ HF Markets (UK) Ltd. in the United Kingdom.

➡️ HF Markets Ltd. in Mauritius.

➡️ HFM Investments Limited in Kenya.


👉 The market regulators that are mentioned below, together with their respective license numbers, have granted HF Markets the authority to do business in a variety of countries throughout the globe and have therefore regulated the company.

➡️ South Africa: The Financial Sector Conduct Authority (FSCA), with the license number 46632, in the capacity of a Financial Service Provider (FSP).

➡️ Cyprus: The Cyprus Securities and Exchange Commission (CySEC) has a cross-border license with the number 183/12. This license allows them to do business in other countries. HF Markets is also an active member of the Committee of the European Securities and Markets Authority (commonly known as ESMA).

➡️ The Dubai Financial Services Authority (DFSA), which also governs the firm under the number F004885, has granted HF Markets (DIFC) Ltd. its license to operate as a financial services provider in Dubai.

➡️ The Republic of Seychelles: HF Markets (Seychelles) Ltd is registered with the Seychelles Financial Services Authority (FSA) with the registration number 8419176-1 and has a license issued by the Seychelles Financial Services Authority (SD015).

➡️ In the United Kingdom, HF Markets (UK) Ltd has license number 801701 issued by the Financial Conduct Authority (FCA). This license guarantees that the firm complies with all relevant legislation.

➡️ HF Markets Ltd. is approved by the Financial Services Commission (FSC) of Mauritius to do business using the C11000814 (Global Business Number) and the 094286/GBL corporate registration. This authorization allows the company to trade internationally.

➡️ Kenya: HFM Investments Limited is a company that operates out of Kenya and is licensed by the Capital Markets Authority (CMA) with the license number CMA 155. This regulatory and authorizing body is in Kenya.


HF Markets Client Fund Security and Safety Features

HF Markets Client Fund Security and Safety Features

👉 HF Markets always keeps customer funds separate in the most respected financial institutions. Furthermore, the broker has Civil Liability insurance coverage with a maximum amount of five million Euros.


👉 HF Markets’ negative balance protection is available regardless of market volatility, especially in instances when margin calls and stop-outs may fail. This safeguard guarantees that consumers are not required to repay their brokers if their accounts go negative.

Overall Rating

Min Deposit



IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.



Total Pairs

Islamic Account


Trading Fees


Welcome Bonus

$140 (326 410 TZS)

Account Activation Time

24 Hours

HF Markets Awards and Recognition

HF Markets Awards and Recognition

👉 Over the course of its existence, HF Markets has received several notable awards from internationally renowned organizations. Recent honours received by HF Markets include, but are not limited to, the following:

➡️ In 2021, HF Markets was recognized by the International Finance Awards as the best forex broker in Nigeria.

➡️ According to World Finance Magazine, HF Markets, a subsidiary of HotForex, has ranked among the top 100 corporations.

➡️ In 2021, Pan Finance presented HF Markets with an award for being the Best Multi-Asset Broker Globally.

HF Markets Account Types and Features

HotForex Review Account Types

👉At HF Markets, a variety of trading accounts are available for selection. These accounts are intended to fit a variety of trading experiences, competence, and trading styles. HF Markets offers the following kinds of retail investor accounts:

➡️ Micro Account

➡️ Premium Account

➡️ HFcopy Account

➡️ Zero Spread Account

➡️ Auto Account

💻 Live Account📉 Minimum Dep.📊 Average Spread💸 Commissions💰 Average Trading Cost
➡️ Micro11,600 TZS or $51 pipNone10 USD
➡️ Premium230,000 TZS or $1001 pipNone10 USD
➡️ HFCopy• Follower: 230,000 TZS ($100)
• Provider: 690,000 TZS ($300)
1 pipNone10 USD
➡️ Zero Spread460,000 TZS or $2000.0 pips• Forex Major: $3/$6
• Other: $4/$8
➡️ Auto460,000 TZS or $2001 pipNone10 USD


HF Markets Live Trading Accounts

Micro Account

HotForex Review Micro Account

👉 Beginner traders who desire to trade with smaller minimum capital can consider using a micro account since this account type is excellent for them. Thanks to the Micro Account, novice traders in Tanzania can trade with smaller position sizes.


👉 This account type is also suited to more experienced traders who want to test their trading strategies in live market conditions without risking a lot of capital.

Account FeatureValue
💰 Minimum Deposit11,600 TZS or an equivalent to $5 or 70 ZAR
📊 Spreads1 pip EUR/USD
💻 Trading PlatformMetaTrader 4, MetaTrader 5
🔨 Trading InstrumentsAll
➡️ ExecutionMarket Execution
📈 Maximum Leverage Ratio1:1000
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size7 Standard Lots (100,000 base currency)
💻 Maximum Open Orders150 lots (Simultaneous)
📞 Margin Call (%)40%
🛑 Stop-Out (%)10%
💳 Account Base CurrencyUSD, ZAR, NGN
✔️ Personal Account ManagerYes
💵 Commission ChargesNone
✅ Bonuses OfferedFlexible bonus offering


Premium Account

HotForex Review Premium Account

👉 This account type is suited for retail traders with prior trading experience. This account’s maximum for a single transaction is 60 standard lots, which is one of its key characteristics. In addition, the position’s total size is changeable, which is one of its other essential characteristics.

Account FeatureValue
💰 Minimum Deposit230,000 TZS or an equivalent to $100 or R1,400
📊 Spreads1 pip EUR/USD
💻 Trading PlatformMetaTrader 4, MetaTrader 5
🔨 Trading InstrumentsAll
➡️ ExecutionMarket Execution
📈 Maximum Leverage Ratio1:500
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size60 Standard lots per position
💻 Maximum Open Orders300 lots
📞 Margin Call (%)50%
🛑 Stop-Out (%)20%
💳 Account Base CurrencyUSD, ZAR, NGN
✔️ Personal Account ManagerYes
💵 Commission ChargesNone
✅ Bonuses OfferedFlexible bonus offering


HFcopy Account

HotForex Review HFCop Account

👉 This account type is suitable for both Strategy Followers (SPs) and Strategy Providers (SP). SPs may create a list of their followers by signing up for an account of this kind. This allows them to trade with their followers and earn a Performance Fee of up to 50 %.


👉 Tanzanian traders can deposit money into this account, which can then be used to automate transactions on certain service providers (SPs).

Account FeatureValue
💰 Minimum Deposit230,000 TZS or an equivalent to $100 or R1,400
📊 Spreads1 pip EUR/USD
💻 Trading PlatformMetaTrader 4
🔨 Trading InstrumentsForex, Spot Indices, Gold, Spot Energies, BTC/USD, BTC/EUR
➡️ ExecutionMarket Execution
📈 Maximum Leverage Ratio1:400
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size60 Standard lots per position
💻 Maximum Open Orders300 lots
📞 Margin Call (%)50%
🛑 Stop-Out (%)20%
💳 Account Base CurrencyUSD
✔️ Personal Account ManagerYes
💵 Commission ChargesNone
✅ Bonuses OfferedNone


Zero Spread Account

HotForex Review Zero Account

👉 The kinds of traders who would profit most from this account are active Tanzanian traders, high-frequency traders, day traders (such as scalpers), and professional advisers since it provides cost-effective trading options.


👉 Raw spreads are given by dependable liquidity providers, and this account does not mark up the spreads in any manner.

Account FeatureValue
💰 Minimum Deposit460,000 TZS or an equivalent to $200 or R2,800
📊 Spreads0.0 pips on Forex Major currency pairs
💻 Trading PlatformMetaTrader 4, MetaTrader 5
🔨 Trading InstrumentsAll
➡️ ExecutionMarket Execution
📈 Maximum Leverage Ratio1:500
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size60 Standard lots per position
💻 Maximum Open Orders500 lots
📞 Margin Call (%)50%
🛑 Stop-Out (%)20%
💳 Account Base CurrencyUSD, ZAR, NGN
✔️ Personal Account ManagerYes
💵 Commission ChargesFrom between $3 for Major Forex Pairs and $4 on other instruments per lot traded
✅ Bonuses OfferedNone


Auto Account

HotForex Review Auto Account

👉 Traders who utilize this kind of account will have access to both algorithmic trading and automated trading options. This account may be used by any sort of trader who is interested in subscribing to trading signals, regardless of whether the subscription will cost them money or whether they will be offered for free.


👉 Furthermore, these signals are sourced from the MQL5 community, which can be found on the HF Markets Tanzania MetaTrader 4 platform, indicating their reliability.

Account FeatureValue
💰 Minimum Deposit460,000 TZS or an equivalent to $200 or R2,800
📊 SpreadsFrom 1 pip EUR/USD
💻 Trading PlatformMetaTrader 4
🔨 Trading InstrumentsForex, Spot Indices, Gold, Spot Energies, BTC/USD, BTC/EUR
➡️ ExecutionMarket Execution
📈 Maximum Leverage Ratio1:500
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size60 Standard lots per position
💻 Maximum Open Orders300 lots
📞 Margin Call (%)50%
🛑 Stop-Out (%)20%
💳 Account Base CurrencyUSD
✔️ Personal Account ManagerYes
💵 Commission ChargesNone
✅ Bonuses OfferedNone


HF Markets Base Account Currencies

👉 Tanzanians who open a live trading account may pick between USD and ZAR as the account’s base currency. Because HF Markets does not use TZS as a base currency, Tanzanians may incur currency conversion costs while depositing or withdrawing cash.


HF Markets Demo Account

HotForex Review Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 


👉 The demo account provided by HF Markets to its Tanzanian traders can be used for one of two purposes namely inexperienced traders can use it to gain trading experience without risking any real money, and more experienced traders can use it to assess the efficiency of their trading tactics.


👉 Tanzanian traders can establish a demo account with HF Markets on either the Micro, Premium, Auto, or the HFcopy Account.


HF Markets Islamic Account

HotForex Review Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.


👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.


👉 When Muslim traders leave their positions open overnight in their HF Markets Islamic Account, they will not be charged interest since this account is Sharia-compliant and runs according to Islamic principles.


👉 HF Markets offers its Muslim clients the option of converting any of their live trading accounts into an Islamic Account, allowing them to partake in halal trading without restrictions.

How to open an Account with HF Markets in Tanzania

HotForex Review Account Registration

👉 To register an account with HF Markets, Tanzanian Traders can follow these steps:

➡️ To register for an account with HF Markets, go to the official website and look for the “Register” option on the homepage.

➡️ You will need to fill out the application that is found online and includes all your contact information, including your full name, phone number, and email address. In addition, you have the option of choosing US Dollars, Nigerian Naira, or South African Rand to serve as the account’s base currency.

➡️ Once you have finished going through these steps, you will be granted access to the MyHF dashboard. This location serves as the administrative hub for all accounts, including live, demo, and any others.

➡️ Choose the kind of account you want to use from the drop-down menu of available account types, then use the MyHF interface to upload all your Know Your Customer (KYC) documentation.

➡️ HF Markets needed at least two papers, namely evidence of identification and proof of domicile before a potential retail trader could be permitted into the marketplace.

➡️ You can provide a scanned and coloured copy of your current (and not expired) passport in either PDF or JPG format. If a genuine passport is not available, a photo identity card or driver’s license that has a design that is like that of a passport might serve as an acceptable substitute.

➡️ A valid proof of residence may be provided in the form of a bank statement or a bill from a utility company. The documents that you provide should be no more than six months old, and they should identify both your name and the actual location where you now reside.

➡️ Tanzanian traders need to be aware that the name on the document serving as proof of address as well as the identification paper must be the same.

HF Markets Vs Axiory Vs GO Markets – Broker Comparison

🥇 HF Markets🥈 Axiory🥉 GO Markets
📱 Trading PlatformFSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regionsFSC Belize, FSC Mauritius, FCAASIC, FSA Seychelles, FSC Mauritius, CySEC
💵 Withdrawal Fee• MetaTrader 4
• MetaTrader 5
• HF App
• MetaTrader 4
• MetaTrader 5
• cTrader
• Axiory CopyTrade
• MetaTrader 4
• MetaTrader 5
💻 Demo AccountNoYesNo
💸 Min DepositYesYesYes
📉 Leverage11,600 TZS23,200 TZS320,000 TZS
📊 Spread1:10001:777 MaximumUp to 1:500
💰 CommissionsFrom 0.0 pipsFrom 0.13From 0.0 pips
🛑 Margin Call/Stop-Out• 40%/10%
• 50%/20%
📱 Order ExecutionMarketMarketInstant
✔️ No-Deposit BonusNoNoNone
💵 Cent AccountsNoNoNo
💻 Account TypesNoNo• Brokerage Account
• Cash Management Account
• Brokerage and Cash Management
• The Fidelity Account for Businesses
• Fidelity Go, and several others
⚖️ BoT Regulation• Micro Account
• Premium Account
• Nigeria HFcopy Account
• Nigeria Zero Spread Account
• Auto Account
• Nano Account
• Standard Account
• Max Account
• Tera Account
• Alpha Account
• Standard Account
• GO+ Account
💰 TZS DepositsNoNoNo
✔️ Tanzanian Shilling AccountNoNoNo
📞 Customer Service Hours24/5Market hours, days24/5
🛍 Retail Investor Accounts552
☪️ Islamic AccountYesYesNo
💵 Minimum Trade Size0.01 lots0.01 lots1 lots
📈 Maximum Trade Size60 lots1 standard lot250 lots
📉 Minimum Withdrawal Time10 MinutesInstantInstant
💸 Maximum Estimated Withdrawal Time10 business daysUp to 10 working days1 to 3 business days
💰 Instant Deposits and Instant Withdrawals?NoYesYes

Overall Rating

Min Deposit




Trading Desk

MetaTrader 4 and MetaTrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

HF Markets Trading Platforms

HotForex Review Trading Platforms

👉 HF Markets offers Tanzanian Traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ HF App


Desktop Platforms

HotForex Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5


MetaTrader 4

👉 MT4 is the most widely used electronic trading platform now. A solid starting point for those who are new to online trading, with adequate tools for seasoned investors.


👉 In addition to its user-friendly interface, MT4 is well-known for its extensive selection of trading tools and other resources. With more than 50 built-in indicators and tools, it is simple to do in-depth technical analysis on a range of assets across several timeframes.


👉 Custom indicators and automated trading systems (expert advisors) may be created using the MQL4/5 programming language’s built-in MetaEditor. A community of internet traders and experts is also a rich source of data.


👉 On the market watch window, live price quotes are shown, news feeds are directly integrated into MT4, and real-time client account summaries include account balances and equity, margins, and floating profits/losses. In addition, MT4 allows trading with a single click and several order kinds.


MetaTrader 5

👉 You will have access to all the benefits that MT4 offered, in addition to several new features, if you upgrade to MT5. These features include the ability to see more than 100 charts at the same time, enhanced tools for order management, 21 different timeframes, more than 100 technical indicators, and a host of other capabilities.


👉 MT5 is a powerful platform that is also quite easy to use. It provides you with full control over all your transactions, which will increase the quality of your trading experience overall.


WebTrader Platforms

HotForex Review WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5


MetaTrader 4

👉 The MT4 online terminal may be accessed via any web browser and provides traders with the same user-friendly interface and strong trading tools that are available on the MT4 desktop platform.


👉 Because of this, you will not need to bother about downloading, installing, or operating any other extra software, and you will be able to trade from any place around the world if you have access to the internet.


👉 Other benefits include the potential to trade directly from the charts themselves, the availability of real-time prices, and the adaptability of the charts.


MetaTrader 5

👉 You will have access to all the features on the MT5 online terminal as you do on the MT5 desktop terminal; the only difference is that you will not be needed to download, install, or run any software to use the MT5 online terminal.


👉 You may begin trading in a matter of seconds utilizing the same tools that are available on the MT5 desktop platform by simply running the web terminal from any computer and browser.


Trading App

HotForex Review Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5


MetaTrader 4

👉 The MT4 mobile terminal is functional on both Android and iOS-based mobile smartphones. It is designed to promote mobile trading while maintaining all its features.


👉 If you have access to the internet, you can quickly log into your account and engage in trading regardless of your location or the time of day. The MT4 mobile application may be downloaded for free from the respective app stores.


MetaTrader 5

👉 You will have total control over your trading account if you install the MT5 mobile terminal on your Android or iOS smartphone or tablet.


👉 Tanzanian traders who need fast and simple access to their accounts while on the road, regardless of where they are in the world, can benefit from utilizing this platform. You can make trades, maintain positions, and do chart analysis. Push alerts are also present on the MT5 mobile trading app for your convenience.


HF App

👉 Users can access the HF Markets client area as well as live streaming market prices, news, and market analysis through the HF app. Other trading tools are available from inside the app, as is a collection of educational information that may help you learn even when you are not at your computer.


👉 Another aspect of the HF App is that Tanzanian traders may easily access HFcopy through the mobile trading app. Traders may utilize HFcopy to transmit signals to their followers, who can then automatically copy the signals to their trading accounts.


👉 Signal providers may receive a performance fee, but followers have total control over their trading accounts and can pick and change the traders they follow at any time.


👉 However, Tanzanian traders should be aware that a signal’s success in the past is no guarantee of its performance in the future.

HF Markets Range of Markets

HotForex Review Range of Markets

👉 Tanzanian Traders can expect the following range of markets from HF Markets:

➡️ Forex

➡️ Precious Metals

➡️ Energies

➡️ Indices

➡️ Shares

➡️ Commodities

➡️ Cryptocurrencies

➡️ Bonds

➡️ Stocks DMA

➡️ ETFs


Financial Instruments and Leverage offered by HF Markets

🔨 Instrument✔️ Number of Assets Offered📈 Max Leverage Offered
➡️ Forex531:1000
➡️ Precious Metals6• Gold: 1:200
• Silver: 1:100
• Platinum: Floating
• Palladium: 1:20
➡️ ETF’s341:5
➡️ Stocks DMA9011:5
➡️ Indices241:200
➡️ Stocks231:14
➡️ Cryptocurrency191:50
➡️ Energies41:66
➡️ Bonds31:50
➡️ Agricultural Commodities51:66



👉 HF Markets provides over 53 Forex trading pairs, including majors, minors, and exotics such as USD/ZAR and ZAR/JPY. While this is a respectable quantity, some brokers provide more than sixty pairs to trade with a maximum leverage of 1:1000.


Precious Metals

👉 HF Markets provides silver and gold crosses with the EUR and USD, in addition to palladium and platinum futures. This variety of metals is mediocre compared to other brokers. The maximum leverage for gold futures is 1:200, while it is capped at 1:100 on silver and 1:20 on Palladium.



👉 HF Markets provides both spot and futures trades on Brent and WTI oil with a leverage limit of 1:50 on USOil and 1:66 on UKOil.



👉 HF Markets has an extensive portfolio that consists of spot and futures contracts on a variety of worldwide indexes, including the NASDAQ, S&P500, FTSE100, DAX30, and Nikkei. This is an extensive selection of indices compared to other brokers. HF Markets offers Indices trading with a maximum leverage up to 1:200, except on the USDIndex and VIX.F Futures Contracts where leverage is capped at 1:100.



👉 HF Markets provides 71 share CFDs for trading, including well-known US technology firms and worldwide energy businesses, as well as significant stock exchange members.


👉 Although this seems to be a lower selection of share CFDs than other brokers, HF Markets additionally provides 950 DMA stocks and the maximum leverage that Tanzanian traders can use is 1:14.



👉 HF Markets provides five of the most popular commodity futures, including coffee and sugar, for trading, with a maximum leverage ratio up to 1:66 on Cocoa, and Cotton while there is floating leverage on Coffee, Copper, and Sugar #11.



👉 HF Markets provides 19 cryptocurrency trading pairs, including Bitcoin, Ethereum, Dash, and Litecoin. On cryptocurrencies, leverage is capped between 1:5 and 1:50 depending on the crypto coin traded. However, traders should be cautious when using high leverage on such a risky financial instrument.



👉 HF Markets provides CFD trading on the three most popular bonds in the world, including UK Gilts, Euro Bunds, and US 10-year bonds, with a maximum leverage ratio up to 1:50.


Stocks DMA

👉 In addition to its portfolio of share CFDs, HF Markets provides 950 DMA stocks, a greater selection than other brokers, with the maximum leverage ratio capped at 1:5.



👉 Exchange-Traded Funds have exploded in popularity over the last few years, and HF Markets provides spot contracts on 34 of the most actively traded ETFs in the world. The maximum leverage ratio that HF Markets allows on ETFs is capped at 1:5.

Broker Comparison for Range of Markets

🥇 HF Markets🥈 Axiory🥉 GO Markets
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsYesYesNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesNoNo
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsYesNoNo

HF Markets Trading and Non-Trading Fees


HotForex Review Spreads

👉 The spreads a trader might expect from HF Markets depend on the account type, market conditions, and financial instrument they choose to trade. These are the usual spreads for each kind of account:

➡️ Micro Account – from 1 pip

➡️ Premium Account – from 1 pip

➡️ HFcopy Account – from 1 pip

➡️ Zero Spread Account – from 0.0 pips

➡️ Auto Account – from 1 pip


👉 The following typical spreads may be expected from the financial products that HF Markets has available for traders to choose from:

🔨 Instrument📊 Average Spread
EUR/USD1.3 pips
NZD/USD1.9 pips
XAG/USD0.03 pips
XAU/USD0.25 pips
US OIL Spot0.09 pips
US OIL Futures0.11 pips
US Tech 100 Spot2.03 pips
US Tech 100 Futures3.13 pips
Volatility Index SP 500 (VIX.F)0.14 pips
CommoditiesFrom 0.008 (Copper)
BTC/USD26 pips
BondsFrom 0.05 pips to 0.06 pips



HotForex Review Commissions

👉 When compared to other FX and CFD brokers, HF Markets’ commissions are transparent and low. Tanzanian traders could expect a $3 fee for major currency pairs and a $4 fee for other financial items.


Overnight Fees, Rollovers, or Swaps

HotForex Review Overnight Fees

➡️ Individual stock swaps are updated daily depending on market conditions and pricing providers’ rates. All positions are vulnerable to these swaps, which are tripled on Wednesdays.

➡️ Precious metal swaps are updated daily in reaction to market developments and rates obtained from price providers. Tanzanian traders who maintain open positions should be aware that triple swaps will be implemented on Wednesdays. Furthermore, the swaps for both XAU and XAG are denoted as 1 pip per lot.

➡️ Market conditions and prices offered by pricing sources are utilized to change energy swaps daily. On Wednesdays, there are triple swaps, and USOil and UKOil swaps are denominated in US Dollars.

➡️ All open overnight positions on indices, bonds, DMA stocks, ETFs, and cryptocurrencies, have their swap rates changed every day based on market conditions and the rates obtained by price suppliers. These swaps will subsequently apply to all open positions held overnight, and there are triple swaps on Fridays.


Deposit and Withdrawal Fees

Deposit and Withdrawal Fees

👉 HF Markets supports all deposit and withdrawal methods at no cost. Bank wire transfer fees, on the other hand, do not apply to deposits of more than $100.


👉 Deposits of less than 230,000 TZS, or the equivalent of USD 100 at the current USD/TZS exchange rate, could be subject to fees if made by Tanzanian traders via bank wire.


Inactivity Fees

👉 A live trading account that has been dormant for six months or longer will be charged an extra $5 monthly fee until the account balance reaches zero and the account is closed.


Currency Conversion Fees

👉 Because HF Markets only allows USD and ZAR deposits and withdrawals, Tanzanian traders using the Tanzanian Shilling may incur currency translation fees.

Overall Rating

Min Deposit




Trading Desk

MetaTrader 4 and MetaTrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

HF Markets Deposits and Withdrawals

👉 HF Markets offers the following deposit and withdrawal methods:

➡️ Bank Wire Transfer

➡️ Electronic Transfer

➡️ Credit Card

➡️ Debit Card

➡️ Skrill


Broker Comparison: Deposit and Withdrawals

🥇 HF Markets🥈 Axiory🥉 GO Markets
Minimum Withdrawal TimeInstantInstantInstant
Maximum Estimated Withdrawal Time10 business daysUp to 10 working days1 to 3 business days
Instant Deposits and Instant Withdrawals?NoYesYes


HF Markets Deposit Currencies, Deposit and Withdrawal Processing Times, Minimum Withdrawal Amount and Maximum Deposit Amounts

💸 Payment Method💵 Deposit Currencies💰 Deposit Processing💳 Withdrawal Processing
Bank Wire TransferUSD, ZAR2 to 7 working days2 to 10 working days
Electronic TransferUSD, ZARUp to 10 minUp to 2 working days
Credit CardUSD, ZARUp to 10 min2 to 10 working days
Debit CardUSD, ZARUp to 10 min2 to 10 working days
SkrillUSD, ZARUp to 10 min2 to 10 working days

How to Deposit Funds with HF Markets

👉 To deposit funds to an account with HF Markets, Tanzanian Traders can follow these steps:

➡️ Once a Tanzanian trader has logged into their myHF account, they will be able to choose the deposit option and then choose their chosen payment method.

➡️ Traders are then allowed to define the quantity and currency of their deposits.

➡️ Lastly, Tanzanians can follow any additional steps as required by their preferred payment provider to finalize and confirm the deposit.

HF Markets Fund Withdrawal Process

👉 To withdraw funds from an account with HF Markets, Tanzanian Traders can follow these steps:

➡️ Log into your myHF portal.

➡️ Select “Fund Withdrawal” from the list of options that are currently accessible to you.

➡️ Select a withdrawal method, followed by entering the required amount of the withdrawal, to start the withdrawal process.

➡️ Lastly, make sure that you follow any further instructions supplied by the payment provider of your choice and send in the withdrawal request to HF Markets for processing.

HF Markets Education and Research

HotForex Review Education And Research


👉 The instructional videos provided by HF Markets include topics such as the fundamentals of trading, the ins and outs of fundamental and technical analysis, the role that psychology may play in trading, and more.


👉 Through the myHF client site, customers may have access to the extensive instructional eCourse that HF Markets offers. This course will provide you with an introduction to the fundamentals of trading in an easy-to-follow, step-by-step format. HF Markets offers the following additional Educational Materials:

➡️ HF Markets Educational Videos

➡️ Training Course Videos

➡️ Forex Education

➡️ Live Webinars

➡️ Events

➡️ Podcasts


Research and Trading Tools

🥇 HF Markets🥈 Axiory🥉 GO Markets
Economic CalendarYesYesYes
Trading ViewNoNoYes
Trading CentralNoNoYes
Market AnalysisYesYesYes
News FeedYesYesYes


👉 HF Markets offers Tanzanian Traders the following 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

➡️ HF Markets Exclusive Analysis

HF Markets Bonuses and Promotions

HotForex Review Bonuses And Promotions

👉 HF Markets offers Tanzanian Traders the following bonuses and promotions:

➡️ Free Funding

➡️ Contests including Traders Awards, HF Markets Gadget Giveaway, Demo Contest, Trading Contests, Currency Wars Contest

➡️ Loyalty Program

➡️ 50% Welcome Bonus for Micro Accounts

➡️ 100% Supercharged Bonus applied to a range of accounts

➡️ 30% Rescue Bonus

➡️ 100% Credit Bonus

How to open an Affiliate Account with HF Markets

HotForex Review Affiliate Program

👉 To register an Affiliate Account, Tanzanian Traders can follow these steps:

➡️ Visit the official HF Markets website.

➡️ To learn more about the Affiliate Program, click “Affiliates” on the main toolbar, then “About HF Affiliates.”

➡️ Learn more about the types of Affiliates HF Markets accepts, then click the green “Become an Affiliate” banner to get started.

➡️ Choose whether you are registering as an individual or a company.

➡️ Complete the required fields with your personal information.

➡️ Then conclude the “Business information” section by stating your affiliate experience, expected current client count, planned client deposits, and how you discover your consumers.

➡️ Finish the application by selecting “Yes” or “No” under HFM Revenue Share.

➡️ Before joining the affiliate program, read the HF Markets Affiliate Agreement, Terms & Conditions, and Privacy Policy. Do this before registering for the program.


HF Markets Affiliate Program Features

HF Markets Affiliate Program Features

👉 HF Markets, a multi-award-winning broker, is recognized for its openness, honesty, and dedication to its traders and affiliates.


👉 People from all around the globe are urged to join HF Markets’ distinguished affiliate program. To keep its affiliates happy, HF Markets provides attractive rewards and a multi-tier affiliate monitoring system.


👉 If an affiliate joins the HF Affiliate program, they will get complete marketing and promotional materials, as well as on-demand assistance from a section dedicated to affiliates.

Overall Rating

Min Deposit




Trading Desk

MetaTrader 4 and MetaTrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

HF Markets Customer Support

HF Markets Customer Support

👉 HF Markets offers superior customer support that is client-focussed and offered across several communication channels 24 hours a day, 5 days a week.

Customer SupportHF Markets’ Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish, Japanese, Vietnamese, Chinese, Arabic, Hindi
🗯 Live ChatYes
📧 Email AddressYes
📞 Telephonic SupportYes
✔️ Local Support in Tanzania?No
🥇 Overall quality of HF Markets Support4.7/5

HF Markets Corporate Social Responsibility

HotForex Review Social Responsibility

👉 The HF Markets Group was created on the belief that helping those in need is a moral duty. The HF Markets Group of Companies has a long history of philanthropic contributions, including some of the following:

➡️ HF Markets, a company noted for its social responsibilities, has previously donated large sums of money to the World Health Organization’s fight against the Covid-19 outbreak.

➡️ By organizing and coordinating actions, the HF Markets team helped reduce the pandemic’s impact on vulnerable areas.

➡️ HF Markets Group donated to The Rainforest Alliance, a global non-profit organization, to help Indigenous people put out fires that have decimated the Amazon rainforest, often known as the “lungs of the Earth.”

➡️ The Rainforest Alliance’s work to help mitigate the effects of the Amazon fires made this gift possible.

➡️ HF Markets made a significant donation to the Larnaca Lions Club, a regional branch of Lions Club International.

➡️ HF Markets has helped scores of young people this year via its charity initiatives.

➡️ HF Markets employees helped a select number of young people enjoy the holidays in 2017.

Our Verdict on HF Markets

👉 When it comes to pricing structures, fees, and swap rates, HF Markets is completely transparent. They are a genuine worldwide multi-asset broker, which means they are licensed and regulated in a variety of different countries.


👉 HF Markets provides clients with a variety of account types and traders can take advantage of tight and raw spreads that start from 0.0 pips on the Zero Spread Account, which is a fantastic opportunity for scalpers and high-frequency traders along with beginners.


👉 HF Markets is an ideal solution for all sorts of traders and enables portfolio managers to properly diversify money across all asset classes due to the extensive asset choices.


👉 The research team of HF Markets provides traders with detailed statistics, and this broker is rich with training resources for novices. Forex traders will also get access to a variety of free trading tools, such as the AutoChartist, as customers of HF Markets.


👉 This alone justifies the inclusion of HF Markets in a diverse broker bundle. HFcopy enables signal providers and Forex market participants to determine the optimal method for profiting from the Forex market.


👉 HF Markets operates flawlessly and serves as a model for how a brokerage should be run. Consider creating at least one trading account with this worldwide broker if you are committed to long-term Forex trading.

HF Markets Pros and Cons

✔️ Pros❌ Cons
Well-regulated in several global regionsThere are no variable spread accounts
Offers some of the lowest spreads in the forex market on major currency pairsThere is a limited selection of funding options and withdrawal methods.
There are several account types to choose from
HotForex accommodates all types of traders despite their trading strategies
Low minimum deposit requirement
Beginner traders and professional investors are both welcome
Educational tools, advanced trading tools, and several other comprehensive solutions are offered
There is a comprehensive market analysis offered
Technical analysis and fundamental analysis offered


Is HF Markets regulated?

Yes, HF Markets is regulated by the FSCA in South Africa, the FCA in the UK, CySEC in Cyprus, CMA in Kenya, FSA in Seychelles, and FSC in Mauritius.


Does HF Markets work on weekends?

Yes, while trades and orders held over the weekend are eligible for execution traders must note that during this period, quotes cannot be executed for new market orders. After the market opens, traders can make new trades and alter or cancel current orders.


Can I withdraw all my money from HF Markets?

Yes, you can withdraw from your funds that are surplus to margin requirements at any given time.


What is the spread for HF Markets?

Some typical spreads for HF Markets are:

  • Micro Account – from 1 pip
  • Premium Account – from 1 pip
  • HFcopy Account – from 1 pip
  • Zero Spread Account – from 0.0 pips
  • Auto Account – from 1 pip


Does HF Markets have a demo account?

Yes, Based on realistic market circumstances, the HF Markets Demo Account has been created to imitate a genuine trading environment, making it ideal for both beginner and professional traders.


Is HF Markets safe or a scam?

HF Markets is a safe broker. Not only is HF Markets well-regulated by several reputable entities, but client fund security is guaranteed, and HF Markets offers investor protection. All financial information and reports are freely available, and audits are carried out on HF Markets frequently.


Does HF Markets have Nasdaq?

Yes, Nasdaq is offered by HF Markets either on the spot or on the futures market.


What is the withdrawal time for HF Markets?

The withdrawal time is between 10 minutes on Skrill and up to 10 working days on bank wire and credit/debit cards.


Does HF Markets have Volatility 75?

Yes, VIX is featured on HF Markets’ product portfolio as a futures contract under VIX.F.


👉 Now it is your turn to participate:

➡️ Do you have any prior experience with HF Markets?

➡️ What was the determining factor in your decision to engage with HF Markets?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with HF Markets such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?


👉 Regardless, please share your thoughts in the comments below.



👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

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