HFTrading Review: Complete Overview
HFTrading is an online brokerage that offers low fees and mobile trading to users, with the ability to trade CFDs of cryptocurrencies, shares, indices, commodities, metals, and forex. They provide the MT4 trading platform and commission-free trading on more than 350 CFD instruments.
HFTrading is a regulated financial services provider located in New Zealand and providing services to users in that country as well as Australia. They offer their clients an impressive list of asset in the form of CFDs that can be traded using the popular MetaTrader 4 trading platform.
Trading conditions offered by HFTrading are quite competitive, and there are several types of accounts available to provide flexibility and cater to client needs. On top of everything is an educational center that’s sure to help every level of trader, from beginner to pro.
While we examine the features and conditions HFTrading offers in more detail during the following review, we’ll also answer the question of whether they are trustworthy, and if you can feel safe entrusting your money and trades to them.
HFTrading is a fairly new brand, having been launched in 2019 as an innovative financial service provider. By offering online trading on a number of global assets via CFDs they hope to provide more accessible financial markets for their clients. CFDs available include underlying assets that include stocks and indices, currencies and crypto, and commodities.
Traders will appreciate the range of features being offered at HFTrading, which include the MetaTrader 4 trading platform, a detailed education center, dedicated customer support, no hidden fees and charges, a demo trading account, and a range of innovative tools to help make trading more successful.
In addition, clients can take advantage of execution speeds that clock in as fast as 0.04 seconds, spreads which begin as low as 2.1, and leverage as high as 1:500. Plus traders can enjoy peace of mind knowing there’s no price manipulation as all trades are passed on directly to liquidity providers, with no dealing desk intervention.
The technological innovations and analytical tools provided by HFTrading ensure that clients are able to secure optimal trading conditions at all times. Also, data remains completely secure through the use of SSL technology, strict firewall rules, and encryption of all transactions.
All of this is part of HFTrading's philosophy that aims to free up traders from all outside distractions and worries that might negatively impact on trading performance, allowing them to focus fully on their trading.
No matter what a financial service provider offers in terms of trading conditions, platforms, and available assets, if a trader can’t feel secure then it is of little use. So, let’s first look at the safety and security of trading at HFTrading.
HFTrading is the trading name of CTRL Investments Limited (“CTRL”). CTRL is a New Zealand incorporated company (Company No. 2446590, NZBN 9429031595070) and a registered foreign company in Australia (ARBN 152 535 085).
CTRL is licensed and regulated by the New Zealand Financial Markets Authority (FSPR No. FSP197465) and the Australian Securities and Investments Commission (AFSL No. 414198).
Client Fund Safety:
HFTrading maintains client fund segregation, keeping all client funds in bank accounts that are separate from the operational funds of the financial service provider.
From our review, it was noted that the financial service provider does implement negative balance protection which is in accordance with the rules put in place by ASIC as of October 2020.
Communication / Data security:
HFTrading has all the necessary security features in place to protect stored as well as in-transit data. The platform uses industry-standard SSL technology and encryption protocols along with secure firewalls to ensure the safety of user information and funds. These technologies and protocols help secure against hacking and against phishing schemes.
It’s also worth noting that there are warnings clearly visible on the HFTrading website warning of the potential dangers when working with CFDs and with leverage and margin. You can read the statement in the footer of HFTrading's website on every page and it is also included in the Financial Services Guide.
Asset Coverage / Instruments
HFTrading has over 300 CFDs, which seems to be pretty standard in today’s CFD industry. All the expected underlying asset classes are available, including stocks and indices, currencies and crypto, and commodities. These offerings can help any trader to remain diversified in their trading, and maintains flexibility in markets based on changing conditions.
Enjoy trading CFDs on all these asset classes:
- Forex Currency Pairs (including minor, major & exotic crosses)
By offering CFD trading HFTrading ensures that clients can easily go both long and short in any market, while also enjoying leverage of up to 1:500 depending on account type as well as the underlying asset.
With three different accounts to choose from every trader should be able to find something that matches their experience level in trading and their needs. The accounts are set up as Silver, Gold, and Platinum levels. Silver accounts are for novice traders, Gold accounts are for more advanced traders, and Platinum accounts are available for professional traders with exceptional knowledge and experience in trading.
You’ll easily notice that the primary differences in the various accounts is in the leverage and spreads offered. That said the differences aren’t all that great, with leverage starting at 1:200 for the Silver account and going to 1:400 for the Gold and 1:500 for the Platinum accounts, while spreads are as low as 3.2 for the Silver account, 2.6 for the Gold account, and 2.1 for the Platinum account.
There is a minimum deposit requirement of $250 for all types of accounts.
You’ll also note that the Gold account gets a 25% discount on overnight swaps, and the Platinum account gets a 50% discount on overnight swaps. That’s an excellent advantage for swing traders who typically hold their positions overnight.
Other Account Features
There are two other account features that are worth mentioning. One is the availability of Islamic trading accounts (swap free account) for Muslim traders. These accounts can be requested from the account manager and they feature no overnight swaps in accordance with Sharia laws. The second is the availability of demo accounts that can be used to test out HFTrading's trading conditions, or to test out the trader’s own trading strategies to ensure profitability before using real money.
We should also note here that fees and charges can change at any time, so prospective traders should check with HFTrading's website to see all current information on type of accounts, fees, and charges.
Fees are always an important consideration, since high fees can really eat into profits. HFTrading remains transparent with all fees and charges and clients will not be affected by hidden fees and charges. The spreads start as low as 2.1 depending on the account type and the underlying asset.
It might be good to explain the process HFTrading follows when executing client orders to understand how the financial service provider operates.
The price quotes offered by HFTrading come from real-time feeds from CTRL Capital, the liquidity provider of HFTrading. These are two-way quotes and HFTrading broadcasts them to its clients without adding to the spread.
To ensure the financial service provider is not taking on any price risk or market risk it then hedges all the trades placed by its clients with CTRL Capital. That diversifies HFTrading’s exposure based on predefined risk parameters. HFTrading earns a commission from CTRL Capital based on the volume of trades and hedged positions.
All of this means HFTrading clients get to enjoy low spreads and no hidden fees and charges. These fees include:
- Overnight financing or swap fee.
- Inactivity& low activity fees if the account is idle for 60 days or more.
Registration / KYC
Registering for an account with HFTrading is a very simple process that involves filling out a short application form, including some basic information like name, email, phone number, address, and date of birth.
However you won’t be able to start trading until you provide them with some additional documents to comply with the KYC and AML regulations. Those documents include an identity document like a drivers license, and a residence document, like a utility bill or similar.
After submitting those documents the account team will review them and if they are acceptable you will get access to a live account and begin trading CFDs. If at any time you need help the customer service team is standing ready to answer any of your questions.
Deposits / Withdrawals
HFTrading makes depositing and withdrawing funds convenient and easy by providing a number of methods for funding your account, or retrieving your funds. In each case there are no deposit or withdrawal fees charged by HFTrading and clients can choose from bank wire, credit and debit cards, and a number of online ewallets such as Skrill and Neteller.
While HFTrading does not charge fees, there will be some occasions when the payment processor charges their own fees. These fees are out of HFTrading’s control.
Withdrawals are processed within 3 business days by HFTrading upon acceptance, although it can take up to 7 business days for the funds to become available depending on the method and provider used. Credit cards are typically instant for deposits, but the ewallets are the fastest when making withdrawals. That said, withdrawals need to be made to the same account that the deposit was initiated from.
In some cases there may be limits to the amount of funds that can be transferred. Clients must refer to the terms and conditions of the specific payment provider to determine if they place any restrictions on deposits or withdrawals. In no instance will HFTrading accept third party payments. All deposits must be made from accounts bearing the same name as the holder of the trading account.
Many clients will be pleased to know that HFTrading provides the award-winning MetaTrader 4 platform for all its clients. This is one of the most powerful, yet user-friendly, trading platforms on the market.
It comes with a wealth of trading tools and indicators that will satisfy even the most experienced traders. It has become so popular in its nearly two decades of existence that traders all around the world are familiar with MT4 and use it in their market analysis and trading.
With the 30 indicators and wide array of built in tools it is possible to analyze thousands of market assets on charts that are customizable and allow for up to 9 different timeframes. The included technical indicators allow for detailed market analysis that aids in locating good trading ideas. Trades can be placed right from the charts, and one-click trading is also possible on any of the MT4 variations.
The software is available as a desktop download for Windows PCs, or it can be used in a web browser as the WebTrader. And for those always on the go there is a mobile version that’s available for both iOS and Android mobile devices.
Some of the features you’ll find in all the MetaTrader 4 instances include:
- Fully customizable features.
- Real time bid/ask price quotes on hundreds of assets via the market watch window.
- Three different types of charts: candlesticks, bars, and line chart.
- Option to choose from 9 trading timeframes from 1 minute to 1 year.
- User-friendly interface.
- Vast array of technical indicators for conducting thorough market analysis.
- Cross-platform synchronization.
- MetaEditor interface to create customised indicators, scripts & EAs.
- Support of automated trading via the use of expert advisors (EAs).
- Large online MQL community to share ideas & tools with other traders.
- Advanced, secure & transparent trading with optimal round-the-clock performance.
- Price alert notifications via email, SMS and platform pop-ups.
- Strategy tester to back test EAs over historical data.
MT4 Trading Plugins
There are no additional plugins or tools provided by HFTrading for the MetaTrader 4 platform. That’s likely because the tools already built-in to MT4 are more than sufficient for locating good trading opportunities. Those who feel like they still need more tools can always go to the MQL marketplace to download the customer indicators, scripts, and more that have been coded by MT4 community members.
HFTrading’s mobile app is also the MetaTrader 4 app, and it has versions for both Android and iOS devices. This gives clients the ability to trade on the go, which is not only very convenient, but is really expected these days. It comes with all the indicators and timeframes found in other versions, and it synchs with those other versions as well, so you won’t be missing any of your trading data.
Right out of the box the app contains the same login and data, as well as news, account history and trade information, charts and watchlists, and ways to connect with the MQL community. It really is a very powerful mobile app.
In addition, you’ll get real-time streaming data from within your watchlist, and you can place all your orders with one-click right from the charts. Also included are push notifications and market alerts to make sure you won’t miss any of the events happening that are moving markets.
HFTrading has a dedicated support team standing by to answer any of your general, account-based, or technical questions or resolve any of your concerns Monday through Friday from 22:00 to 10:00 GMT.
Support is available via an online chat session, through email at [email protected], via telephone at +61 391139456, or through an online contact form. The financial service provider also includes an online contact for that goes right to their management team when you aren’t getting the proper support in a timely manner.
Education & Additional Resources
HFTrading includes a comprehensive education center on their website that includes a wide selection of articles, tutorials, trading guides, and videos, all meant to ensure that each and every trader who joins them is able to get an optimum trading experience and develop their trading skills.
It’s very convenient that the material is offered right on the website, making it available to anyone, at any time, and from any internet connected device. Have some time whilst riding the train? Why not read about a scalping trading strategy, or how to read Bollinger Bands. Those are just two of the many subjects you can study in this comprehensive educational portal.
In addition you can also learn more about the MetaTrader 4 platform and how to use it, find introductions to different markets you might be unfamiliar with, hone your technical analysis skills, learn trading psychology and money management, and much more.
In addition to the educational material, there are also a number of research tools to be accessed. These include an economic calendar that displays all the latest economic news releases, and the likely impact of the news on markets. You can also view the date and time of upcoming economic data releases to help plan your trading.
In addition to the economic calendar there is also a corporate earnings report calendar that will give you advance notice of what companies have earnings reports coming up, what the expectations are for those earnings, and when the company management will be holding a conference call.
On top of it all is a daily news section that’s updated multiple times a day and gives a broad view of global market action, including articles detailed to gold and oil, forex pairs, cryptocurrencies, and more.
Areas for improvement
No financial service provider is perfect, and so it’s necessary to discuss potential areas of improvement for HFTrading. One that immediately comes to mind is to increase the customer service hours to be 24 hours during the trading week at least. Maybe no support on the weekends is fine, but during the week there are markets trading at all times of the day. If a trader wants to speculate on forex during the North American session there should be support available if something goes wrong.
We also think that using a firm owned by the same parent company to provide price quotes and liquidity is somewhat questionable. Even though HFTrading is a non-dealing desk broker, its close ties to CTRL Capital raise some questions regarding potential price manipulation. Not that this is to say any manipulation is occurring, but the use of a closely related firm does bring up those questions.
On the negatives, the variable spread is high, and the several additional charges in the form of fees spike the client trading costs. HFTrading does not offer 24/5 customer support; a must-have for CFD providers.
One final complaint is that the financial service provider should expand their geography and offer their services outside the limited areas of Australia and New Zealand, although that may be just the way they like it.
Residents of New Zealand and Australia who are looking for a online CFD provider offering competitive trading conditions really need look no further than HFTrading, which is licensed and regulated by both ASIC and FMA.
HFTrading provides access to global markets and assets preferred by most traders via CFDs and are able to offer higher levels of leverage. It also affords traders the ability to go long or short with equal ease.
Lastly, the various account types are suitable for meeting the varied needs of any trader, from novice to professional.
Taken all together we feel like we can recommend HFTrading to Australian and New Zealand CFD traders for their optimum trading conditions and wide variety of CFDs.
Warning ⚡️: CFDs are complex financial products. You do not own or have any interest in the underlying asset. Past performance of the underlying asset does not guarantee any future results.
Trading CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.