In this HFM copy trading review, we'll cover everything you need to know about the service, including its features, fees, and user experience. We will also give you tips on how to maximize your profit with HF Copy.
What Is HFM Copy Trading?
HFM Copy Trading is a social trading platform that allows traders to copy the trades of other more experienced & successful traders and potentially make money from their success.
This can be a great way for new traders to learn and grow, and it can also be a way for experienced traders to generate additional income.
The HF Copy offers many features and tools to help users make informed decisions and manage their investments effectively.
How Does HFM Copy Trading Work?
The HF Copy trading account connects followers to experienced traders, known as strategy providers. The strategy providers' trades are automatically copied to the followers' accounts in real-time. This means that followers can potentially make profits without having to trade themselves.
Followers can choose which strategy providers to follow and can monitor their trades, close positions, withdraw profits, and manage their investments.
As a follower, you also have access to risk management tools and real-time performance monitoring.
Followers only pay a commission if the copied trades are successful.
HotForex copy clients can follow as many “strategy providers” as they want, which means they can choose different trading approaches with different risk levels.
HF Copy is quite a convenient platform for copy trading. It is accessible via MT4, web platform, and mobile apps for Android and iOS.
How Do You Open An HF Copy Account As A Follower?
Opening an HFM Copy account is straightforward. Simply follow the steps below.
How To Open A Hotforex Copy Account Step-by-Step
1. Visit the HF Copy account registration page.
Click on the green button that says ‘Open HF Copy Account‘ as shown below.
2. Enter your details
Enter your details including country of residence, email address and password. verify your account and sign up as a follower.
3. Choose who to follow and connect your account
Choose a Strategy Provider from the performance table according to parameters such as gains, max drawdown and stability score. Remember you can follow up to three strategy providers on three different accounts. You can also unfollow any strategy provider anytime.
4. Deposit funds and set risk management limits
The minimum deposit for HF Copy is $100 unless the Strategy Provider has specified otherwise.
Set the rescue level, which allows you to limit the amount you can lose when the strategy goes through a period of losses. When this level is reached, all your open trades are automatically closed, and you will stop following new ones.
Set the volume allocation, which means you decide the volume of trades to copy into your account in proportion to the strategy providers’ trades.
5. Monitor your account
Monitor the performance of your account in real-time using a wide range of tools provided by Hotforex Copy. You can choose to increase funds allocated to a strategy provider or even stop following a provider at any time through the myHF area
This gives you total control of your account.
How To Open An HF Copy Account As A Strategy Provider
1. Visit the HF Copy account registration page and click on the ‘Open HF Copy Account‘ button.
2. Sign up as a strategy provider on the next page and enter your details.
3. Deposit a minimum of $500
4. Start creating valid strategies to share and earn commissions. You will also set your performance fee percentage during the setup of your strategy provider account.
You can create up to three accounts since you are limited to one strategy per account.
5. Start trading to showcase your skills and attract followers. You will get paid commissions from your followed trades two times a week.
How To Verify Your HF Copy Account
You will need to provide the necessary documents that confirm your real identity. You can use the following:
- Valid identification document: eg. scanned colour copy (in PDF or JPG format) of ID card, passport, or driver’s license (it has to have a photo and is valid i.e not expired).
- Proof of residence: a recent bill (max 6 months from the account opening request) or a bank statement with the applicant’s name and address clearly visible can be used to confirm your address.
The name on your identification document must be the same as that on the proof of residence.
HFM (formerly Hotforex) will carry out the verification process within 48 hours. After verification, you can start investing, taking advantage of all the services provided by the broker.
How To Choose A Good Strategy Provider on HF Copy
It is important to choose a profitable strategy provider to reduce your risk and maximise your chances of getting a profit. The following tips can help you find the best strategy provider for you.
The strategy provider should:
- Have a track record of at least 3 months
- Have maintained a positive profit margin in the recent past
- Have a small maximum drawdown
- Not trade extremely large lot sizes
- Maintain a certain amount of money in his account
Features of the HF Copy account
The following table lists all the main features of the Hot Forex copy account.
🖥Trading platforms | MetaTrader 4, Webtrader, & mobile trading |
| 💳Spreads | Starting from 1 pip |
| 📃Contract Size | 1 lot = 100,000 units |
| 📊Trading Instruments Available | Forex, Spot Indices, Gold |
| ⚡ Fifth Decimal | ✔ Available |
| 🏋️♀️ Maximum Leverage | 1:30 (varies by selected instrument) |
| 🚅 Execution | Market Execution |
| 💳 Minimum opening deposit | $300 for Signal Provider, $100 for Follower |
| 💹 Minimum trade size | 0.01 Lot |
| ⬆ Trade size increment | 0.01 |
| 📈 Maximum total trade size | 60 standard lots per position |
| ♻ Maximum number of simultaneous orders | 300 orders |
| 🔔Margin call | 80% |
| ⚠ Stop out level | 50% |
| 📞 Telephone trading | ✔ Allowed |
| 💶 Account currency | USD |
| 💼 Personal account manager | ✔ Available |
| 💲 Trading commissions | ❌None |
| 🔢 Maximum number of allowed followers | 200 |
Benefits of HFM Copy Trading
- It is a great way for new traders to learn and grow. By copying the trades of experienced traders, new traders can learn how to identify trading opportunities and manage risk.
- It can be a way for experienced traders to generate additional income. SPs earn a performance fee on the profits of their followers.
- It is a convenient way to trade. You do not need to spend hours analyzing charts and markets. Simply choose one or more SPs to copy and let them do the work for you.
- Earn passive income by copying other traders
- You have full control of your account as a follower
- Allows followers to diversify their portfolios and spread risk
Disadvantages of HF Copy
- Past results do not guarantee future results.
A strategy provider may be profitable when you follow but then they may start making losses when you follow them. In other words, there is no guarantee of profits - You cannot use HFM bonuses on HF Copy
All bonuses & promotions are ineligible. You will have to deposit funds to be able to copy or be a strategy provider - Dependence on Other Traders:
Your success on the Hot Forex Copy trade account is largely dependent on the performance of the traders you are copying. If they make poor trading decisions, it could negatively impact your investments. - Can promote over-reliance on others
Your growth as a trader may be limited by copying others
HotForex Copy trade can be a useful tool for investors who want to benefit from the expertise of experienced traders. It can also be a great way for new traders to earn money while they learn.
However, it is important to be aware of the potential drawbacks and to carefully consider whether the platform is right for you.
Frequently Asked Questions On HFM Copy Trading
HF Copy is a social trading platform that allows you to copy the trades of other more experienced traders. This can be a great way for new traders to learn and grow, and it can also be a way for experienced traders to generate additional income.
The minimum deposit for the HF copy account is $500 for a strategy provider and $100 for followers unless specified otherwise by the strategy provider.
HF Copy can be a useful tool for investors looking to benefit from the expertise of experienced traders. However, it is important to be aware of the potential drawbacks and to carefully consider whether the platform is right for you.
The HFCopy Account works by allowing traders to select and follow other traders who have a successful track record. When the traders they are following make trades, those trades are automatically copied into the follower's account.
Yes, you can choose which traders to follow on the HotForex Copy Account. The platform provides a list of successful traders to choose from, and you can select the ones that best fit your investment goals.
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