HFM: Forex Trading Fraud | Broker Review

Forex trading is a lucrative and exciting way to make money online, but it also comes with many risks and challenges. One of the biggest threats is falling prey to a Forex trading scam, where a dishonest broker or platform takes your money and runs away. In this article, I will share my personal experience with HFM, a Forex broker that turned out to be a scammer and a fraudster.

What is HFM?

HFM is a Forex and binary options broker that claims to offer a wide range of assets and trading tools on the MetaTrader 4 and MetaTrader 5 platforms. According to its website, HFM is regulated by various authorities, such as CySEC, FCA, DFSA, FSCA, FSA, CMA, and others. The broker also claims to offer direct market access (DMA) execution, low spreads, high leverage, and fast withdrawals.

How I got involved with HFM

I was looking for a reliable and reputable Forex broker to start trading with, and I came across HFM online. I was impressed by their website, which looked professional and user-friendly. I also read some positive reviews on Trustpilot, where customers praised the broker’s service and support. I decided to give HFM a try, and opened an account with them. I deposited $1,000 using my credit card, and received a confirmation email from the broker. I also got a phone call from a person who introduced himself as Ahmed, my account manager. He welcomed me to HFM, and offered to help me with my trading strategy and education. He sounded friendly and knowledgeable, and I trusted him.

How HFM scammed me

For the first few weeks, everything seemed to go well with HFM. I was able to access the MT4 and MT5 platforms, and trade various currency pairs and commodities. Ahmed also called me regularly, and gave me some trading tips and signals. He encouraged me to increase my trading volume and deposit more money, promising me higher returns and bonuses. He also told me that HFM was participating in a special promotion, where I could get a 100% match bonus on my deposits, and withdraw my profits anytime. He said that this was a limited-time offer, and that I should act fast. I was tempted by his offer, and decided to deposit another $3,000. I received another confirmation email from the broker, and saw the bonus credited to my account.

How I found out that HFM is a scam

After I realized that I had been scammed by HFM, I decided to do some research on the broker. I found out that HFM is not a regulated broker, and that it is not authorized to offer its services in any jurisdiction. I also found out that the company behind HFM, HFM Global Ltd., is registered in an offshore location, where there is no financial oversight or consumer protection. I also discovered that the UK subsidiary of HFM, HFM UK Ltd., is not registered or licensed by the Financial Conduct Authority (FCA), the UK’s financial regulator. I also read some negative reviews and complaints from other customers who had been scammed by HFM, and who had similar experiences to mine. I learned that HFM is a Forex trading scam, and that I had fallen victim to a fraudster and a scammer.

What I learned from my experience with HFM

My experience with HFM was a painful and costly lesson for me. I learned that Forex trading is not as easy or profitable as it seems, and that it involves a lot of risks and challenges. I also learned that there are many scammers and fraudsters in the Forex market, who prey on unsuspecting and inexperienced traders. I learned that I should always do my own research and due diligence before choosing a Forex broker, and that I should only trade with regulated and reputable brokers who have a proven track record and a good reputation. I also learned that I should never trust anyone who promises me unrealistic returns or bonuses, or who pressures me to deposit more money or trade more frequently. I also learned that I should always be careful and vigilant when trading online, and that I should always protect my personal and financial information.

Conclusion

HFM is a scam broker that should be avoided at all costs. They are not regulated, they are not transparent, and they are not trustworthy. They will lure you in with their attractive website and positive reviews, but they will scam you out of your money and disappear. They will not provide you with any service or support, and they will not honor your withdrawal requests. They are a Forex trading scam, and they are a fraudster and a scammer. If you have been scammed by HFM, or if you are thinking of trading with them, I advise you to stay away from them, and to report them to the authorities. You can also contact me if you need any help or advice, or if you want to share your story with me. I hope that my article will help you avoid falling victim to HFM, or any other Forex trading scam. Thank you for reading.