What Account Types and Fees Does HMFS Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginner to intermediate traders |
Low minimum deposit, user-friendly trading platform |
Suitable for new traders looking to enter the market |
| Professional Account |
Experienced traders |
Higher leverage, access to advanced trading tools |
Requires proof of trading experience or minimum trading volume |
| Corporate Account |
Corporate clients |
Customizable trading solutions, dedicated account management |
Requires corporate documentation for setup |
| Islamic Account |
Traders seeking swap-free options |
No overnight interest, compliant with Islamic finance principles |
Available upon request, subject to approval |
| Demo Account |
All traders for practice |
Risk-free trading environment, virtual funds |
Ideal for testing strategies before live trading |
Account Opening Process
To open an account with HMFS, follow these steps: First, complete the online application form by providing personal details, including your name, contact information, and employment status. Next, submit your financial information to assess your trading profile. You will also need to undergo identity verification by providing a government-issued ID and proof of address, such as a utility bill. After your application has been reviewed and approved, you will receive confirmation. Note that you can later upgrade your retail account to a professional account if you meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive pricing for active traders |
| CFDs (Stocks) |
0.5 |
$5 per lot |
Varied based on stock liquidity |
| CFDs (Indices) |
1.5 |
$4 per lot |
Broad range of indices available |
| CFDs (Commodities) |
2.0 |
$3 per lot |
Includes major commodities like gold and oil |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, HMFS may charge deposit and withdrawal fees, which can vary based on the payment method used. Be aware of inactivity fees that may apply if your account remains dormant for an extended period. Platform usage fees are not applicable, and overnight interest (swap rates) may be charged on positions held past the trading day. Additionally, currency conversion fees may apply for transactions involving different currencies.
