HF Markets offers various advantages for their clients. Read this guide before making any deposit or withdrawal from this broker.
HF Markets is a globally known forex and CFD broker that has been around since 2010. The broker aims to facilitate both newbies and expert traders by offering no less than 1000 tradable assets including forex pairs, major stocks, indexes, energy, metals, shares, bonds, ETFs, and commodities. Apart from that, HF Markets is also fully regulated and offers several distinct account types; each comes with competitive spreads, low commissions, and speedy trade execution.
As an investment broker, HF Markets understands that all transactions must be carried out safely and effectively. For this reason, making deposits and withdrawals at HF Markets has never been easier. Here's the complete guide to help you get started.
Contents
Available Funding Methods
HF Markets offers quite a wide range of funding methods for making deposits and withdrawals. Each option has an associated minimum deposit, maximum deposit, and processing time. Find all the information you need on the following list.
- Wire Transfers
Wire transfer is perhaps the most common way to deposit funds into a trading account, so, as expected, this method is available to all users worldwide. It is basically a traditional transfer between banks all around the world, so it's considered safe and reliable. The minimum deposit is $100 and there is no limit as to how much you want to deposit or withdraw. The processing time may vary depending on the bank you use, but typically it ranges between 2 to 7 business days. - Credit/Debit Card
Credit/debit card is another convenient funding method for forex traders. At HF Markets, you can choose to use Visa, Mastercard, or JCB card. The minimum deposit starts from $5 and the maximum deposit is $10,000 for Visa and Mastercard. As for the JCB card, the maximum deposit is $25,000. Conveniently, deposits via credit/debit cards can be processed almost instantly – no more than 10 minutes. - E-Wallets
E-wallet is a rather fresh addition to the trading industry but is quite popular these days. It is known for its instant processing time. At HF Markets, there are several options that you can choose from, namely FasaPay, Bitwallet, Neteller, Skrill, PayRedeem, Perfect Money, WebMoney, Bitpay, Dusupay, and more. The minimum deposit varies depending on the method you choose, but all of them can process your request in less than 10 minutes. - Other Alternatives
There is an option to use local bank transfers based on your country of residence. This is particularly common in areas outside of the CySEC and FCA authority. Most of these options are simple and instant, so make sure to check the availability with your bank and the broker support team. Apart from that, you can also make a deposit using an e-card like PayRedeem or cryptocurrencies such as Bitcoin, Ether, and Litecoin.
Available Base Currencies
Like other top brokers, HF Markets offers several options of base currencies to fund your account with. The options depend on the area where your account is regulated and the type of account that you choose. Here are the options:
- USD
- EUR
- NGN
- JPY
- GBP
- CHF
- PLN
- ZAR
- AED
Choosing the right base currency for your account can help you minimize the cost of each deposit and withdrawal. With that being said, make sure to deposit using the same currency as your account base currency to avoid conversion fees.
Guide to Making Deposits in HF Markets
Before you fund your HF Markets account, there are several things that you should note, such as:
- HF Markets does not apply any deposit fees regardless of the deposit amount. But even so, please note that your intermediary bank or card provider might charge you additional fees for using their service.
- Aside from not charging any additional fees, HF Markets covers the fees imposed when making a deposit via Bank Wire Transfers. This is to ensure that you will receive the same amount of funds in your account as you allocated for the deposit, thereby protecting your expected margin. All you need to do is send a copy of your transfer receipt to the broker's support team and the broker will refund the charges. This is undoubtedly a nice advantage as it can reduce your overall trading cost.
Steps to Make a Deposit
1. Go to HF Markets' official website or app and then log in to myHF Area. If you're a new client, simply click the "Open a Live Account" button to start the registration process.
2. Once you're logged in, click "Deposit".
3. Choose your preferred deposit method and click on it.
4. Select the currency and enter the amount that you wish to deposit into your HF Markets account. Click "Deposit" once you're done.
5. Enter your bank account details and confirm the payment. You'll receive an on-screen confirmation indicating that the broker has received your deposit request.
HF Markets Withdrawal Conditions
When it comes to making a withdrawal, there are also several important details that you shouldn't miss, such as:
- HF Markets does not charge any withdrawal fees, but there might be fees charged by the bank, third-party company, or payment service provider according to their fee structure.
- All withdrawal requests submitted before 10:00 AM server time is processed on the same business day between 07:00 AM to 05:00 PM server time. Any request submitted after this time will be processed on the following business day (Monday to Friday).
- According to the broker's policy, all funds must be returned to their original source, so all withdrawals must be made via the same method used for the initial deposit. Once the amount deposited is fully returned to its original source, you will be permitted to withdraw via another method.
- For debit cards, the withdrawal amount must not exceed the initial deposit or the sum of all debit card deposits. If this is the case, you will receive the remaining amount via bank wire transfer. Also, deposits via Visa or Mastercard that were made more than 6 months ago cannot be withdrawn using the same method.
- Funds cannot be withdrawn to an expired card. In case the card used for deposit is lost, replaced, stolen, or doesn't support the foreign remittance funds, you'll need to inform HF Markets before making a withdrawal request and provide an official letter from the bank stating the situation.
- Unverified clients are not allowed to make any withdrawals until they provide the required KYC documents and get their accounts to be approved by the broker's support team.
- If you want to cancel your withdrawal request, simply contact customer support for assistance. The quickest way to reach them is by using the Live Chat feature on the website. However, if the withdrawal has already been processed by the bank or payment provider, then you might not be able to cancel it.
How to Withdraw from Your Account
1. Head over to the broker's official website or HF Markets app, then log in to myHF Area.
2. Click "Withdraw".
3. Select your preferred withdrawal method from HF Markets' available options.
4. Enter your withdrawal amount and other details. Type in your password and click "Withdraw".
5. You will receive an on-screen confirmation as well as a confirmation email.
Possible Reasons for Withdrawal Cancellation
It is worth mentioning that HF Markets may cancel or reject your withdrawal request due to the following reasons:
- The client has failed to provide valid KYC information and documents within 7 days. Remember that unverified account holders are not allowed to make withdrawals. If this is the case, the client will need to upload the documents, wait for the account to be verified, and then resubmit the withdrawal request.
- The client has failed to provide full or correct information while submitting the withdrawal request.
- The client submitted an incorrect date of birth during the withdrawal request.
- The client chose an incorrect withdrawal method or a different one than the deposit method.
- The client's Skrill account has not been verified.
Keep in mind that the broker will inform you if any of the problems above occurs, along with instructions on what you need to do next. If you have any complaints, you'll need to write them down and send them to support development via email at support@hfm.com.
Bottom Line
Based on the explanation above, we can see that HF Markets offers easy deposits and withdrawals for all types of clients worldwide. Aside from offering a wide range of payment methods, the broker charges no fees for making deposits and withdrawals. Just make sure to read all the terms and conditions before making any transaction, and don't forget to verify your account in order to withdraw funds from your balance.
HF Markets is a global Forex and Commodities broker that facilitates both retail and institutional clients. Previously known as HotForex in the brokerage industry, HFM has positioned itself as the forex broker of choice for traders worldwide through their various account types and trading tools. Furthermore, HF Markets allow scalpers and traders use Expert Advisors unrestricted.
22 Comments
Jan 7 2023
According to my experience, I have been in the world of trading for 5 years by making lots of deposits at several brokers, one of which is HF Markets. Of course, what I know is that withdrawals at each broker require an average of more than 1 hour. In my experience, I tried trading at several different brokers. Withdrawals using the international bank transfer method are subject to a certain fee. At this FP Markets broker, is there a fee if you want to withdraw funds using the international bank transfer method? If anyone knows, can you help answer, guys, I'm asking for help.... thank you
Jan 23 2023
Rose:
As stated above, HF Markets does not charge any withdrawal fees, but there might be fees charged by the bank, third-party company, or payment service provider according to their fee structure.
So the answer for your question is "yes", but do take notes that these fees are collected by the bank, not by the broker. So if you avoid additional fees charged by the bank, just use another withdrawal method. Or make large withdrawals at once to minimized the cost.
Jan 7 2023
Hello friends, I am still a beginner in trading and I happen to be interested in this broker. This is the first time I found a broker that offers a fairly low initial deposit, which is around $5. Understandably, as a beginner trader, to make a deposit that is high enough, you are still afraid and don't dare to trade large amounts. HFM is also unusual when compared to other brokers, as it generally does not charge any fees for deposits or withdrawals. But my question is, do I have to verify before depositing when withdrawing? If anyone knows, can you please answer...
Jan 23 2023
Warren: Hi, I don't really understand with your question but I try to answer. If you wondering about verification process, yes. You have to verify before withdraw your fund.
Verification process ensure compliance with laws and regulations designed to prevent money laundering and financing of illegal activities. This is known as "know your customer" (KYC) and "anti-money laundering" (AML) regulations. These regulations require institutions to verify the identity of customers and monitor their transactions for suspicious activity.
It's important to note that these regulations vary by country and jurisdiction. Some countries have more strict regulations, and thus the verification process may be more extensive.
By completing verification before depositing or withdrawing funds, you are helping the institution or broker comply with these regulations and protect against financial crime.
Jan 7 2023
Here explains that MasterCard is another convenient funding method for forex traders at HF Markets. And among other methods, only mastercard offers a minimum deposit of 5 USD and with the same processing time as other methods, which is about 10 minutes to enter your trading account. And yep, at this broker, deposits in any method are not free of charge. However, after reading this article, here it explains the mastercard method for making deposits only. Can I also use this Mastercard to withdraw funds? Please, if anyone knows, please do it
Jan 7 2023
Jan 10 2023
Where can I check the status of my deposit/withdrawal? How long does the process usually take?
Jan 23 2023
Malenka:
To check your deposit/ withdrawal status, check your mail, there will be some confirmation message. Other way, you can open MyHF account Finances section, the status will be updated there.
The deposits and withdrawal process may vary, depending on your methods:
Do take notes that credentials and methods for deposit/withdrawal should be similar. In example, if you used debit card as deposit method, you also should use it for withdrawal methods. Don't forget to complete the verification process to avoid cancellation or pending funds.
Jan 18 2023
What is the best option to make instant deposit?
Jan 26 2023
I'm still confused with the free funding system. So, the broker will cover the fees imposed by the bank via bank wire transfer? What about additional fees from a credit card provider, would they cover that too?
Jul 1 2023
@Erick: Hey there! When it comes to the free funding system in HF Markets, it means that the broker covers the fees charged by the bank for bank wire transfers. So if you deposit or withdraw funds using a bank wire transfer, HF Markets will take care of those fees for you. However, it's important to note that this might vary depending on the specific terms and conditions of HF Markets, so it's always a good idea to double-check with them to get the most accurate information.
As for additional fees from credit card providers, such as transaction fees or currency conversion fees, it's best to check with HF Markets directly to see if they cover those as well. They'll be able to provide you with the specific details on any additional fees that may be involved when funding your account using a credit card.
Jan 29 2023
How long should I wait for the funds to appear in my account?
Jul 6 2023
@Abd Kaseem: In general, the time it takes for funds to appear in your HotForex account can vary based on a few key factors:
Deposit Method: The method you use to deposit funds into your HotForex account can affect the processing time. Common methods include bank transfers, credit/debit cards, and electronic wallets. Each method has its own processing timeline, which can range from a few hours to a few business days.
Location: Your geographic location can also impact the processing time. Different regions may have different banking systems or regulations that can affect the speed of fund transfers.
HotForex Processing Time: HotForex itself needs to process incoming deposits. They may have specific internal procedures or verification processes that can cause a in the funds reflecting in your account. Typically, reputable brokers like HotForex aim to process deposits as quickly as possible.
Payment Provider: If you use a third-party payment provider to deposit funds into your HotForex account, such as an electronic wallet service, the processing time will also depend on their internal processes. These providers may have their own verification or security measures in place, which can impact the speed of the transaction.
Feb 6 2023
Can I open multiple accounts at HF Markets?
Jul 5 2023
@Mina Park: Yes, you are allowed to open multiple accounts at HF Markets. This feature provides flexibility for traders who may have different trading strategies or want to segregate their trading activities. Having multiple accounts allows you to manage your trades separately, whether you want to focus on different trading styles, test various strategies, or separate your personal and business trading activities. It's important to note that each account will have its own unique account number, and you can choose different types of accounts based on your trading preferences, such as live or demo accounts, different base currencies, or specific trading platforms. Opening multiple accounts can be a convenient option to diversify and optimize your trading experience with HF Markets.
Jul 1 2023
Hey, I have to say that I really dig HF Markets as a trading platform. I mean, they have some killer features that I'm really tempted to, especially in terms of their leverage, which is actually higher than what's allowed in my own country, the US.
So after reading this article, I decided to give their demo account a try. I trained with him for several months and finally felt ready to open a live account. I followed all the steps outlined in the article, but when I tried to open a live account, it was rejected. I was disappointed and finally contacted HF Markets customer support.
They explained to me that they do not accept US traders. I was a bit confused because they let me open a demo account in the first place, but didn't let me open a live account. Do you know why this is? What's the problem with HF Markets not accepting US traders?
Jul 3 2023
Hey bros! Too bad you have experience with HF Markets. So here's the deal with Exness not accepting US traders. The thing is, Exness is a global brokerage company, but they have certain regulatory and policy limitations. One of those limitations is that they do not accept clients from the United States.
Now, you may be wondering why they let you open a demo account. Well, demo accounts are often available to traders all over the world, regardless of their location. This is a way for traders to get a feel for the platform and test their strategies without risking real money. But when opening a live account, HF Markets must comply with the regulations set by the authorities in the countries where they operate. Exness has licenses in various international regions such as CySEC, FCA, DFSA, FSCA, and CMA. unfortunately, it's not all in the US territory, meaning they can't accept traders from the US.
Jul 4 2023
That's right, not many brokers accept US traders. According to the articles I read, it is known that getting a US license is very difficult because the requirements are quite strict. One of the main reasons why forex brokers do not accept US clients is because of the strict regulations imposed by the US government. The US government has implemented a number of regulations regarding forex brokers, including the Dodd-Frank Act which was introduced in 2010. This law requires forex brokers to register with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) which can be a lengthy and expensive process.
In addition, forex brokers are also required to meet a number of other requirements, including maintaining minimum capital requirements and submitting periodic financial reports to the authorities. These regulations can be difficult for forex brokers to comply with, which is why many prefer not to accept US clients.
Well despite the many rules in the US, it is important to remember that these regulations are designed to protect traders and ensure that the forex market operates fairly and transparently. As a result, it is important to choose a regulated and trustworthy forex broker, even if they do not accept US clients. Yeah, even though HF Markets Broker can't penetrate the US market, it can't be denied that it is a good broker. HF Markets is a highly regulated Broker with a good reputation. The company is recognized globally and offers good trading conditions for professional or regular traders. HF Markets has one of the best and most good study and research materials for trading EAs.
However, you still need an account that has US regulations, you have to read this (Forex Brokers Offering Us Clients)
Jul 5 2023
Actually, here I just want to add the reason why forex brokers don't accept US clients is because of the higher costs associated with doing business in the US. The US is known to have a higher cost of living and wages than many other countries, meaning forex brokers have to pay their employees more, resulting in higher operating costs.
In addition, forex brokers also have to pay higher taxes and fees to operate in the US, which can be a significant burden for smaller companies. As a result, many forex brokers choose to focus on other markets where the costs of doing business are lower.
Apart from these reasons, In the US, forex brokers are only allowed to offer a maximum leverage of 50:1 on major currency pairs and 20:1 on minor currency pairs. This is much lower than the leverage that is offered by brokers in other countries, such as Australia and Europe, where leverage of up to 500:1 is available. The restrictions on leverage in the US can make it difficult for traders to make a profit, as they are not able to take advantage of the same level of leverage that is available in other countries. As a result, many traders choose to use offshore forex brokers that offer higher leverage, which is why many US forex brokers do not accept US clients.
This is all done to protect traders from fraud and cybercrime.
Jul 24 2023
Hey, so I was reading about HF Market and apparently they offer a bunch of assets to trade including Forex, stocks, indices, and even cryptocurrencies! That's pretty sweet.
But what caught my eye were the bonds that they offer. I'm a beginner trader and I don't want to overwhelm myself with too many complex assets. So, I was wondering what kind of instrument CFD trading is offered for bonds and whether it's a good choice for someone like me. And what are the benefits of trading bonds compared to other assets?
Jul 25 2023
Bonds are a type of CFD trading instrument that can be traded on HF Markets, along with other assets like forex, stocks, indices, and cryptocurrencies. While bonds may seem more complex than other assets, they can actually be a good choice for beginners because they tend to be less volatile than stocks and other instruments.
One advantage of trading bonds is that they can provide a steady stream of income through interest payments, which can be attractive for investors seeking stable returns. Additionally, bonds are often considered a safer investment compared to other assets, as they are generally backed by the issuer's creditworthiness.
Jul 26 2023
Ahh, let me explain Bonds CFD with more simple language. For example, let's say the current price of the bonds is $100 per bond, and you think the price will go up in the near future. So, you decide to buy a CFD for 10 bonds at the current price. If the price of the bonds does indeed go up to $110 per bond, you can sell the CFD and make a profit of $100 (10 bonds x $10 increase in price per bond). However, if the price goes down, you will incur a loss.
One advantage of trading bonds CFDs is that you can make a profit even when the market is going down, as long as you correctly predict the price movements. However, it's important to note that CFDs are leveraged products, meaning you can potentially lose more than your initial investment if the market goes against you. It's important to have a solid understanding of the risks involved and to manage your trades carefully.