HFM Cent Account Review: A Comprehensive Guide ✅ 2024

If you're looking for a trading account that offers low spreads, fast execution, and a wide range of trading instruments, the HFM Cent account may be worth considering.

In this comprehensive review, we'll take a closer look at the features and benefits of this account, as well as any potential disadvantages, to help you decide if it's the right choice for your trading needs.

What is the HFM Cent account?

The HFM Cent account is a type of trading account offered by HF Markets (formerly called Hotforex) that is designed for beginner traders who want to start with a small amount of capital.

The Hotforex cent account allows traders access to a wide range of trading instruments, including forex, commodities, and indices. With the Hotforex Cent account, traders benefit from low spreads and fast execution.

The HFM Cent Account allows clients to trade with cent lots. Cent lot is equal to 0.01 Standard lot or 1000 units. With margin requirements as low as 10 US cents, the HF Markets cent account is ideal for novice traders looking to switch from a Demo account to real trading.

Experienced traders who wish to try new strategies or explore a new asset class can also use the Hotforex cent account and risk a small amount of capital.

HFM cent account has no minimum deposit and can have a Rand base currency making it very convenient for South African traders.

The HF Markets Cent account replaced the Hotforex Micro account.

How To Open An HFM Cent Account

Opening an HF Markets Cent account is easy. Simply follow these steps.

Visit the HFM Cent account creation page here. This will take you to the website for South African traders. If you are in another country go to the international HFM page here.
Click on ”Ópen Cent Account‘ and enter your details.
Verify your email and put further personal details
Upload your verification documents and fund your account to start trading

Features Of The Hotforex Cent Account

Trading Platform: MetaTrader 4 & Metatrader 5
Spreads: From 1 pip
Trading Instruments Forex, Gold
Fifth Decimal: yes
Maximum Leverage: 1:1000
Execution: Market Execution
Minimum opening deposit: 0
Minimum trade size: 0.1 Lot
Trade size increment: 0.01
Maximum Total Trade Size: 200 Cent lots
Maximum Simultaneous Open Orders: 150
Margin Call / Stop out level: 50% / 20%
Telephone Trading: yes
Account Currency: USD, ZAR, JPY
Personal Account Manager: yes
Commission: No
Raw bonus: No

For South African traders we recommend using the Rand as the base currency to avoid currency exchange fees.

Open HFM Cent Account

Advantages of the Hotforex Cent Account

Flexibility to trade with cent lots.
Leverage up to 1:1000 and zero commission.
Low minimum deposit
Access to a wide range of trading assets
Ability to develop your trading strategies and test expert advisors with minimal investment.

Disadvantages Of The HF Markets Cent Account

High leverage may amplify losses
Not available in some countries
Higher spreads than other account types

Is The HF Markets Cent Account Good For You?

Here are some additional things to consider when deciding whether or not to open a HF Markets Cent account:

Your trading experience:
If you are a beginner trader, a cent account may be a good option for you. However, if you have more experience, you may want to consider a different type of account.
Your trading goals:
What are your goals for trading? If you are looking to make a quick profit, a cent account may not be the best option for you because of the small lot sizes. However, if you are looking to learn how to trade and improve your trading skills on a live account, a cent account can be a great way to start.
Your budget:
The Hotforex Cent account is more suited for traders looking for an affordable way to enter the forex markets. That's why they have low minimum deposits.
If you have more money to invest, you may want to consider a different type of account.

Conclusion on the Hotforex Cent Account

Overall, the HF Markets Cent account is a good option for traders who prioritize low minimum deposits and competitive spreads, but may not be the best fit for those who require a wider range of tradable assets or a different commission structure.

While the spreads may be higher than other account types, this is a common tradeoff for accounts with lower minimum deposits. If you're a beginner looking to get started with trading, the HF Markets cent account is definitely worth considering.

FAQ's On The HFM Cent Account

What is the HFM cent account?

The HFM cent account is a type of trading account offered by HotForex that allows traders to start trading with a small amount of capital.

How do I open a HFM cent account?

Visit the HFM Cent account creation page. Click on open account and enter your details. Verify your account and then your account will be ready for trading

Is the HFM cent account regulated?

Yes, HotForex is a regulated broker and the HFM cent account is subject to the same regulatory requirements as other account types.

What trading instruments are available on the HFM cent account?

The Hotforex cent account offers access to the same trading instruments as other account types, including forex, commodities, and indices.

What is the HFM cent account minimum deposit?

There is no minimum deposit for the HF Markets cent account.

Is the HFM cent account suitable for beginners?

Yes, the HF Markets cent account is a great option for beginners who want to start trading with a small amount of capital. It offers access to a wide range of trading instruments and allows you to trade in smaller increments, which can help you manage your risk more effectively.