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HFTrading is an online CFD trading platform that gives you the opportunity to trade a variety of financial products in a safe and user-friendly environment. The platform is owned and operated by CTRL Investments Limited, which is a New Zealand incorporated company, which is also registered in Australia. In addition, the company is authorised and regulated by the New Zealand Financial Markets Authority and the Australian Securities and Investments Commission.
HFTrading is specially designed for the markets of New Zealand and Australia. This is explained in further detail in this HFTrading review.
The majority of retail CFD accounts lose money
Contracts for Difference (CFDs) are a type of high-risk investment where you can benefit from an asset’s price movements without owning the asset itself. This type of investment is ideally suited for day traders, or those looking for frequent, short-term trades. Cryptocurrency CFDs are an example of CFDs where the underlying asset is a digital token, such as Bitcoin, Ethereum, or Litecoin. When you trade Bitcoin CFDs you do not own the coin, so you don’t need to store it in a Blockchain wallet.
This HFTtrading review will focus especially on cryptocurrency CFDs, however, you will also learn about general information, such as how to open an account and how the platform compares to others. Since information may change over time, we recommend you checking HFTrading website for any updates or changes. We will also be updating this review whenever the need to do so arises.
Since CFD trading involves leverage or margin trading it is considered to be a high-risk type of investment. It is important that you understand the risks involved and are prepared to lose some or all of your investment. If you are not able to do this, you should opt for lower-risk investment opportunities. The majority of retail clients on this platform lose money.
HFTrading is considered to be very safe, not only because it operates under two financial authority licences, but also because it implements a suite of security measures to protect users and funds. The platform has never been a victim of a successful cyber-attack, and users generally speak positively about its features and safety. Apart from utilizing SSL technology encryption on transfers, HFTrading has a powerful firewall that protects users’ confidential information from hackers.
The HFTrading platform is actually split into three platforms, depending on your trading preferences. The three trading platforms are:
No matter which platform you decide to use, you will get access to the same trading opportunities, charting options and analysis tools.
Apart from cryptocurrency CFDs, you can use HFTrading to trade a variety of other CFDs, including Forex, Commodities, and Precious Metals. All of these products are available through your HFTrading account, allowing you to trade multiple products across markets from a central, intuitive interface.
Since HFTrading does not let you purchase cryptocurrencies, such as Bitcoin or Litecoin, there is no reason to offer a platform wallet. When you invest in cryptocurrency CFDs, you are investing in a contract, not an asset. Details of the contract’s ownership are securely stored on the platform, so you don’t need to worry about security or storage.
Through the three trading platforms offered on HFTrading, you will be able to invest in CFDs on any digital device, including mobile. The HFTrading website provides a lot of information, however, certain details, such as fees, are not clearly displayed.
When you are opening a new HFTrading account you can choose between three different account types. These are:
Each account type offers different tools and benefits, and each variation comes with different max leverage. Gold and Platinum accounts benefit from a 25% and 50% swap discount respectively. You should choose the account that best suits your trading experience and preferences.
Creating a new account with HFTrading is fast and easy. All you need to do is:
The HFTrading team will send you a confirmation email with a link to verify your email address. Click on this link to complete verification.
Once you have created an account you can log in at any time by following these steps:
If you forget your password, click on the ‘Forgot Password’ link and follow the on-screen instructions to reset your password.
An important step in the creation and activation of your HFTrading account is verification. Know Your Customer (KYC) is criteria that helps ensure a safe trading environment. Fortunately, the platform has simplified this process into two simple steps.
The HFTrading team endeavour to verify accounts within a short period of time, normally not exceeding 48 hours. However, the process might take longer depending on workload. If you have any questions regarding verification you can get in touch with the customer care team. Ways of doing so are explained further on in this HFTrading review.
No matter which of the three platforms offered by HFTrading you choose, buying Bitcoin CFDs is easy and simple. HFTrading further facilitates this process by providing user instructions and tutorial videos, both of which are available for all platforms. In the following example we shall buy Bitcoin CFDs on the MetaTrader 4 platform:
CFDs are complex trading instruments that come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs with this provider. Hence, you should consider whether or not you fully understand how CFDs work and make an informed decision on whether you are willing to take the high risk of a substantial loss.
In order to cash out an open position and withdraw your funds, you should follow these steps:
Once the necessary fees have been deducted from your trade, the balance will become available in your HFTrading account. You can now proceed to withdraw some or all of your available funds from your account by following these steps:
Currently, HFTrading supports over 30 different cryptocurrency CFDs. Here are some of the more popular cryptocurrencies it supports:
Each digital token is paired, through Bitfinex, with one of three fiat currencies, namely EUR, USD, or GBP. The following is an excerpt of all trading pairs available on the platform. The full lists of supported cryptocurrencies and crypto CFDs are available on the platform’s products page.
Unlike most cryptocurrency CFD trading platforms that tend to support users from most countries in the world, HFTrading is currently only available to users in New Zealand and Australia.
As mentioned earlier in this HFTrading review, users who do not live in New Zealand or Australia are currently not supported by the platform. Residents in the EU and UK looking to trade cryptocurrency CFDs should consider joining an alternative platform.
HFTrading generates its revenue by charging users fees, just like all other reputable trading platforms.
The main fee charged by HFTrading is the spread, which is added to both the buy and sale price of an asset. Whilst the exact spread per asset is unclear, depending on which type of account you open you can avail of spreads as low as 0.03 pips. You will always be able to check and confirm the price of an asset before opening or closing a position.
In addition to the spread, HFTrading charges the following fees:
HFTrading does not charge any deposit fees or commissions. Withdrawals are also free, except when their value is below 100AUD or are made from an inactive account. In such cases, a 50AUD charge does apply.
Unfortunately, HFTrading does not provide a clear list of applicable fees and charges per asset. You can find some information regarding financing fees on the financing fee charges section on their website.
Every trading pair comes with its own trading limit which is shown on the order screen before a position is opened. Limits vary considerably depending on the asset.
Maximum limits vary based upon your payment method. Whilst there are no set minimum withdrawal limits, withdrawals below 100AUD incur a 50AUD fee. Depending on the account type you set up on registration, your minimum deposit could vary between 250AUD to 300AUD. Leverage limits also vary depending on the trading account that you own:
HFTrading supports a variety of convenient and popular payment methods. These are:
Maximum limits vary depending on the payment method you wish to use.
The HFTrading platform is extremely safe and reliable, making use of a variety of security tools to protect users and funds. When creating your account you must select an alphanumeric password of between 6-12 digits. This is done to make it difficult for hackers to guess your login details. Similarly, transactions are encrypted in order to prevent any unauthorised infiltration.
Getting in touch with HFTrading customer care team is simple, through a live chat option available Monday to Friday, 8 am till 11 pm GMT. Alternatively, you can get in touch via telephone or email. Response times appear reasonable, with no complaints on popular review sites. Whilst the platform does not have an FAQ page, you can find detailed information in their terms and conditions page.
Both platforms support a similar number of cryptocurrency CFDs alongside a variety of alternative markets including commodities and forex. ITRADER is available in a significantly higher number of countries around the world, whilst HFTrading is currently limited to Australia and New Zealand. Both platforms accept similar payment methods and allow users to access their trading platforms using MetaTrader 4.
In comparison to eToro, HFTrading is extremely limited, with only a couple of supported countries. eToro is a global trading platform that lets users buy digital assets directly and store them in an in-built wallet. The eToro platform supports a significant range of payment methods and gives users access to innovative tools, such as CopyTrader.
Whilst both HFTrading and XTB are regulated platforms offering a variety of cryptocurrency CFDs, XTB implements an investor compensation scheme whilst HFTrading does not. Both platforms offer a similar fee structure which includes free deposits, but XTB is significantly more transparent about fees. Although both platforms carry out KYC, the signup process for HFTrading is much simpler and faster.
HFTrading offers users in supported countries a good opportunity to invest in cryptocurrency CFDs as well as other financial products. Whilst the platform is reliable and safe it is extremely limited, focusing solely on CFDs and not offering advanced security features, such as two-factor authentication (2FA). The platform also lacks the transparent fee structure common in many of its competitors.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
HFTrading is a CFD trading platform. This means that you will not be able to buy or sell Bitcoin directly, but can only trade Bitcoin contracts.
Due to the high risk nature of trading CFDs it is recommended that you only use HFTrading once you have accumulated trading experience.
Yes, HFTrading has an Android and iOS mobile app.
The spread on HFTrading varies depending on the type of account you hold. In some cases, the spread can go as low as 0.03 pips.
eToro is one of the leading, fastest-growing, multi-asset trading platforms that offer trading in stocks, cryptocurrencies, commodities, and more. Only cryptos are available in the US. Highly volatile unregulated investment products. No EU investor protection. 68% of retail investor accounts lose money when trading with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
XTB is one of the reputed EU-based FX/CFD platforms which offers CFD trading in stocks, commodities, cryptocurrencies, forex, ETFs, and indices.
80% of retail investor accounts lose money when trading CFDs with this provider. These products are not suitable for all clients, therefore please ensure you fully understand the risks and seek independent advice.