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HFTrading review 2020: Buying crypto CFDs | The broker put to the test

In this article we’ll introduce the CFD broker HFTrading and examine whether the broker is a trusted and safer alternative to brokers such as eToro or Plus500.

About HFTrading

HFTrading is a CFD broker for the Australian market. The trading platform of CTRL Investments Limited, a New Zealand based multi-asset forex CFD broker established in 2019 following the acquisition of MahiFX. It is a market-making broker regulated and authorized by the Australian Securities and Investments Commission (ASIC) and the New Zealand Financial Markets Authority (NZFMA).

On the trading platform, HFTrading offers over 300 CFDs (contracts for difference) from the areas of cryptocurrencies, forex, stocks, metals, commodities and indices. In order to access the offers, customers must create an account. There are three types of accounts available at HFTrading: the Silver Account, which all users start with, the Gold Account and the Platinum Account. Each of them has different fees and benefits. In addition, the available leverage differs depending on the type of account, as the table below shows.

CryptoFXIndicesCommoditiesStocks/EquitiesMetals
Silver1:21:301:501:501:201:50
Gold1:21:4001:1001:1001:401:100
Platinum1:21:4001:1251:1251:501:125

Most important info

✅ Website address: https://www.HFTrading.com
✅ CFDs: cryptocurrencies as well as commodities, forex, stocks, indices, metals
✅ Leverage: up to 1:200 (for standard silver account)
✅ Minimum deposit: from $250
✅ demo account: Yes, free of charge
✅ Deposit and withdrawal methods: Bank transfer, credit and debit cards (Visa/MasterCard), Skrill, Neteller, Trustly

Who can trade on HTFrading?
Currently, only Australian or New Zealand residents can open an account with HFTrading. So if you are not resident in one of these countries, you will need to find another broker.

**Risk Warning: CFDs are complex financial products and carry a high risk of losing money. Most retail accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. You have or have no interest in the underlying asset.

Is HFTrading trustworthy and secure?

From our point of view HFTrading seems very trustworthy. The basis for this is the regulation and authorization by the Australian Securities and Investments Commission (ASIC) and the New Zealand Financial Market Authority (NZFMA). On the one hand, both regulatory authorities have strict approval requirements, which HFTrading has fulfilled, on the other hand the platform is subject to the supervision of both authorities. Thus, the supervision ensures the maintenance of sufficient capital, regular checks and the security of client deposits. In addition, both authorities have issued strict guidelines to ensure the privacy of clients.

Customer support is another important factor in determining the trustworthiness of a broker. Users of HFTrading can access support via live chat, telephone, e-mail or by filling out a form. All channels are open Monday through Friday from 2:00-1:00 GMT.

Account types with HFTrading

At HFTrading you have the choice between three types of accounts. All accounts have in common that there are no deposit limits, no deposit fees and offer over 350 different CFDs. However, as far as leverage, spread and swap fees are concerned, there are significant differences between the different account types (as is common with most brokers):

Silver Account

  • Leverage up to 1:200
  • Spread from 0.07
  • no swap discount

Gold Account

  • Leverage up to 1:400
  • Spread from 0,05
  • Swap discount 25%

Platinum Account

  • Leverage up to 1:500
  • Spread from 0.03
  • Swap discount 50%

Platforms for trading on HFTrading

MetaTrader 4

With the access to the CFD Broker, users of the trading platform also get access to MetaTrader 4, which supports manual trading as well as automated and copy trading. MT4 is a software that must be downloaded and installed. Then you can trade on HFTrading from your desktop PC or laptop.

The software was released in 2005 and has been updated many times since then, so you get a very advanced software that also supports all major operating systems. Besides the trading options mentioned above, you can use various charts, place trading signals and access over 50 editable market indicators.

WebTrader

The web version of the MT4 can be accessed using any browser and, unlike the MetaTrader, does not require the download of any software. With WebTrader you can analyze the different financial markets and access the various chart tools and a watch list in the standard workspace, as well as use the automated trading. You can also contact the customer support directly and enjoy the full range of MT4 functions.

Mobile app

HFTrading’s mobile app is available for iOS and Android devices and is designed to make trading quick and easy. The app offers real-time streaming quotes with built-in charts, technical indicators, trade alerts and push notifications.

Available CFDs as cryptocurrencies

On HFTrading you can choose from 20 different cryptocurrencies as CFDs, which can be traded either in US dollars (USD), Euros (EUR) or the British pound (GBP). The big advantage of CFDs over “real” cryptocurrencies is that you do not bear the risk of storage. This means that you do not have to worry about keeping them in a wallet. Below you will find the list of available crypto CFDs:

  • Bitcoin vs. US Dollar, Euro, British Pound
  • Ethereum vs. US Dollar, Euro, British Pound
  • Litecoin vs. US Dollar, Euro, British Pound
  • Dash vs. US Dollar, Euro, British Pound
  • Ripple vs. US Dollar, Euro, British Pound
  • Ethereum Classic vs. US Dollar, Euro, British Pound
  • Bitcoin Gold vs. US dollar
  • Stellar vs. US Dollar
  • Cardano vs. US dollar
  • Bitcoin Cash ABC vs. US dollar
  • Bitcoin Cash SV vs. US dollar
  • IOTA vs. US dollar
  • Lisk vs. US dollar
  • NEO vs. US dollar
  • QTUM vs. US dollar
  • NEM vs. US dollar
  • Zcash vs. US dollar
  • Forge vs. US dollar
  • Siacoin vs. US dollar
  • Monero vs. US dollar

Trade crypto CFDs on HFTrading

Fees

First, HFTrading does not charge any deposit fees or commission. Depending on the financial instrument and your account type, the CFD broker will charge a spread and a swap fee. The former is the difference between the bid (sell) and ask (buy) price. The difference is expressed in pips. You can find the spreads on the official website of HFTrading.

In addition, HFTrading customers must also consider the swap fee that is charged for overnight positions. This is calculated daily (as with some brokers, including eToro). At HFTrading it is charged for all open positions at midnight (GMT+3). The good news is that customers with gold and platinum accounts get a 25% and 50% discount on the swap fees respectively.

Another item that is common with other brokers is the inactivity fee. If users are inactive for more than 60 days, a fee of between AUD 80 and AUD 200 per month is charged, depending on the duration of the inactivity.

Payment methods

HFTrading offers its customers various simple and secure payment methods. For example, the platform allows its customers to pay via various banking options:

  • Bank Transfer,
  • Credit and debit cards (Visa/Mastercard),
  • Skrill,
  • Neteller,
  • VPay

How can I trade on HFTrading?

The process of opening an account is really straightforward. To register you need to visit HFTrading.com and click on ‘Register’. An important step in creating and activating your HFTrading account is verification. As part of this process, you will need to prove your identity by uploading an official form of identification, such as a passport, ID card or driving license, and your residence by submitting a recent bank statement, utility bill or other official document. The HFTrading team endeavors to verify accounts within a short period of time, which normally does not exceed 48 hours. However, depending on the workload, the process may take longer.

To buy CFDs you must be logged into your account. For example, to buy Bitcoin as a CFD, follow these steps:

  1. Click on the “Market Watch” window and select BTC. When you click on it, the corresponding chart will be displayed.
  2. Click on “New Order”‘ and then make your settings. This includes setting the automatic ‘Stop Loss’ and ‘Take Profit’ limits, which can protect you from losing a significant amount of your capital or allow you to skim your profits.
  3. To place your “Order”, you click Bitcoin ‘Sell’ to short sell Bitcoin CFDs or ‘Buy’ to take a long position.

Conclusion

Our research has shown that HFTrading is a reputable and secure CFD broker for residents of Australia and New Zealand, offering a wide range of CFDs and with MetaTrader 4, a powerful, industry standard trading software. On the platform you can 20 different cryptocurrencies can be traded as CFDs, as well as CFDs on forex, cryptocurrencies, commodities or shares.

**Risk Warning: CFDs are complex financial products and carry a high risk of losing money. Most retail accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. You have or have no interest in the underlying asset.

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About Author

Jake Simmons

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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