How to open an HFM account: which type, which documents

Registering an HFM account takes exactly 5 minutes, but one decision inside those 5 minutes stays with you for months: which account type to pick.

Pick wrong and you either pay more per trade than you need to, or trade a volume too large for your capital. So this guide runs in the opposite order to the usual one: choose the account first, do the registration clicks after.

Choosing the account: by the numbers, not by the advertising

HFM (operating since 2010, licensed by FSCA/FSA/CySEC/FCA/DFSA, analysed in detail in the HFM review) has 3 main account types. Here is the real cost of one 0.1 lot EUR/USD trade (a lot is the unit of trade size; 1 standard lot is 100,000 units) (approximate figures for comparison; the current fee schedule always takes precedence):

• Cent, no minimum deposit, volume measured in cent lots (0.1 cent lot = 0.001 standard lot). Spread is the same as Premium but each pip is worth only 1/100. A "0.1 lot" trade here risks a few hundred dong per pip, tuition that really is cheap.
• Premium, no minimum deposit, floating spread from 1.4 pips on EUR/USD, no commission. Cost of 0.1 lot from about 1.4 USD per trade. In return it is simple, with no commission to add or subtract.
• Zero Spread, no minimum deposit, spread from 0.0–0.3 pips + commission (~3 USD per lot per side). Cost of 0.1 lot ≈ 0.6–0.9 USD per trade. About 35–55% cheaper than Premium if you trade enough for that figure to matter.

The quick rule I usually give: never traded real money → Cent. A few trades a week → Premium. Scalping or EAs placing dozens of trades a day → Zero. And do not overthink it.

HFM lets you open several accounts under one myHF profile, so switching type later just means adding a new account and moving money across, not registering from scratch.

The registration steps (the easy part)

1. Go to hfm.com by typing the address yourself instead of clicking a link in an ad or an unfamiliar message. HFM is a big brand, which also makes it a favourite target for name clones (read the warning on fake brokers to see the tricks).
2. Click Register → enter your email and full name. One note that looks small but is not: type your name in the same order and spelling as on your citizen ID card or passport, because every withdrawal later is matched against that exact string of characters.
3. Confirm your email → log in to the myHF client area.

KYC: do it now, not when you want to withdraw

You can deposit and trade before verification is finished. That is the biggest trap people walk into by choice: only when they want to withdraw do they discover the profile has not been approved, and then they sit counting the days. The right order: submit all your documents, then deposit your first dollar. You need 2 things:

• Citizen ID card or passport, still valid, photographed straight on, all 4 corners visible, no glare. A blurry photo is the most common reason a profile gets sent back.
• Proof of address, a bank statement or electricity/water bill from the last 3–6 months, in your name. A PDF downloaded from your banking app is accepted.

Approval usually comes within 1 business day.

After opening: 3 things worth doing in the first week

1. Deposit a small amount first (even if you plan to put in a large sum). Which channels are cheap and fast for Vietnamese users is covered in the guide to HFM deposits and withdrawals.
2. Place a few trades, then test a withdrawal of 5–10 USD. HFM allows withdrawals from 5 USD; use that to check the full deposit-trade-withdraw cycle while the amount is still small. Only a broker that passes this test is worth discussing larger capital with.
3. Size your trades to your capital using risk ÷ (stop loss × pip value), keeping risk at 1–2% per trade. An account blown in the first month is almost always blown by position size, not by picking the wrong direction.

As for the HFM deposit bonus that often appears in ads: you can take it. But read the volume conditions first; withdrawing capital early before you have traded enough lots usually wipes out the reward. I take bonuses in general apart in the warnings section.

HFM account types table: compare before you choose

Source: hfm.com/int/en/trading-accounts, data as of 28/07/2026. Broker conditions change over time; check again before you deposit.

The point that matters for beginners: the CENT account uses a 1,000-unit lot, 100 times smaller than a standard lot. Open 1 Cent lot on EUR/USD and each pip (the smallest price step, usually the fourth decimal place) is worth only about 0.1 USD instead of 10 USD.

That lets you practise with real risk but small amounts. In return, CENT trades only Forex and Gold, and caps you at 150 open positions at once.

The broker's own page states a few lines worth reading closely: "Leverage may be adjusted", "Raw spreads available on specific symbols", and for the bonus "Availability depends on the region", meaning it may not apply to Vietnam; ask again when you register.

Deposits: HFM quotes in VND, with no USD conversion

This is a practical difference that matters for Vietnamese users: HFM's deposit table shows amounts directly in dong. So you know exactly how much to transfer without converting at a floating exchange rate yourself.

Source: hfm.com/int/en/funding/deposit-options, data as of 02/08/2026. Broker conditions change over time; check again before you deposit.

The easiest trap to fall into sits in the second row. An international wire transfer is free only for deposits above 2,350,000 ₫ (about 92 USD).

Beginners often try a small deposit first for peace of mind, and that trial deposit is exactly the one that gets charged, on top of a 2–7 day wait. If you want to test with small capital, use the domestic bank transfer channel: minimum 250,000 ₫, instant, free.

Which legal entity actually holds your account?

This question comes before any spread figure (the gap between the buy and sell price, that is, the fee you pay), and it is also the one most often skipped. HFM runs several legal entities (the specific company that signs the contract with you) in several places:

The international site that Vietnamese users can reach is operated by the St. Vincent & the Grenadines entity, where there is no investor compensation scheme like those under the FCA or CySEC.

The FCA licence sits with the UK entity, and that same site states: "The materials on this website are not intended for distribution to individuals in the UK, EU, USA, or any Prohibited Jurisdictions."

In other words: the FCA licence is real, but it does not apply to your account. That is not a reason to conclude HFM is a scam; it is something you need to know so you can weigh it yourself. Read more: how dangerous a weak forex broker licence is.

Vietnamese-language support: email supportvn@hfm.com, phone +44-203 097 85 71, and Live Support on the website, per the broker's own page (02/08/2026).

Every figure in this guide was read directly on the HFM site, with the check date given in each section, including the Vietnamese contact details above. Where the broker does not publish something, we left it blank. Document requirements and minimum deposits are the two things HFM changes most often.

Spotted something inaccurate? Tell us and we will check it and publish a correction.