HFM launches “Cent Accounts” for new traders ‘playing on the safe side’

Rick Steves

“By offering this cent account, we are opening a world of opportunities to our users, while encouraging smart and safe market activity online.”

HFM, the FX and CFD broker formerly known as Hot Forex, has announced the launch of Cent Accounts, which enables users to have their accounts denominated in cents.

Cent Accounts is more suitable for beginner traders with less experience, but also for experienced ones who wish to try new strategies or explore a new asset class, as this feature enables users to trade in smaller volumes, and especially smaller lots.

“Traders preferring to ‘play on the safe side’ more often than not”

“We at HFM strive to always remain attentive to our valued customers’ needs. We are aware that the recent economic atmosphere has traders preferring to ‘play on the safe side’ more often than not, and we are here to help. By offering this cent account, we are opening a world of opportunities to our users, while encouraging smart and safe market activity online”, said a spokesperson for HFM. “I can truly say that we’ve brought every small detail into mind when we designed this offer. I am sure that our competitive cent account offer can cater to a wide array of traders.”

HFM’s new cent account also provides access to leverage of up to 1:1000, which generally speaking is not that appropriate for beginners. Such high leverage is naturally not allowed at the broker’s CySEC-authorized entity.

The brokerage firm also offers commission-free trading and a minimum deposit at 5 USD. The FX broker provides a personal manager to all account holders to walk them through the process.

HFM launched mobile app as MT4/MT5 removed from Apple Store

HFM recently launched its new mobile application, available for both Android and iOS users and combining the firm’s offering with reliable technology to offer traders a fully customized mobile trading experience. The revamped HFM app features in-app trading to better cater to the needs of its ever-growing client base as the retail segment increasingly relies on mobile apps for their trading and investing activities.

The launch of the proprietary HFM mobile trading app comes in good timing as MetaQuotes’ MetaTrader 4 and MetaTrader 5 remains suspended from the Apple Store, leaving traders using the iOS version of these platforms out to dry. Now, these users can jump back on the bandwagon of mobile trading.

The new HFM app now allows traders to access their accounts and trade CFDs on more than 1200 assets straight on the app. Users are given the opportunity to customize their trading with three trading options (Amount, Lots or Units), access a detailed history of each trade and analyze their performance, monitor their positions 24/7 and enjoy effortless trading anywhere, anytime.

HFM offers DMA stock trading

In September 2021, HotForex – now HFM – announced the launch of Direct Market Access (DMA) – a way of placing trades directly onto the order books of global stock exchanges for execution, offering traders the opportunity to access the same liquidity as the underlying market.

This was its key milestone toward multi asset trading. DMA Stocks provide greater visibility and flexibility, direct market live pricing, participation in the market of the underlying stock, interaction with the live order books of global stock exchanges, and orders reflected on the underlying market.

DMA Stocks were the latest addition to its list of over 1000 trading instruments. The newly added products are accessible through the MT5 platform, and the broker ensures negative balance protection, risk management with limit and stop orders, and on the go trading with the HF App.

Read this next

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<