[HFM (formerly HotForex): For beginners] Causes and solutions when unable to deposit with FX FAQ Thorough explanation

HFM

HF Markets supports a variety of deposit methods. It is a very user-friendly company because it supports not only bank transfer, credit card, bitwallet, but also virtual currency deposit. However, there are times when deposits cannot be made, so this is summarized as troubleshooting.

Why can’t I make a deposit and how to fix it

There are some reasons why you can’t make a deposit. The following are the main possible reasons, so please refer to them. Please refer to the article below for details on how to make a deposit. If you click to pay and make a deposit, it will usually be reflected within a few days at the latest. There are various methods such as bitpay and visa card, but the time it takes to reflect the information varies depending on the method. The maximum leverage is 2000x, and trading services are more extensive than XM, FXGT, Axiory, Threetrader, FBS, titanfx, iforex, etc.

If you cannot find a solution within this article, we recommend contacting our support center. Our support staff will be happy to provide you with a solution. The minimum deposit amount is $5, so you can trade with small amounts. It is convenient because you can make deposits online using Bitcoin.

You have not specified the reference number as the holder

In the case of bank transfer, the reference number must be entered in the name of the transferee. If you do not do this, HF Markets will not be able to confirm which account you are depositing from. Therefore, if you forgot to enter the reference number and made a payment, please contact the support center.

You haven’t reached the minimum deposit amount

Depending on the deposit method, there is a minimum deposit amount. If this amount is not reached, the deposit will not be accepted in the first place and will be returned. There is always a minimum deposit amount for each deposit method, so please do not deposit too little.

In order to complete the deposit, it is necessary to transfer funds from the wallet to the account

In fact, as a mechanism of HF Markets, the deposited amount is first accumulated in the wallet in the account. From there you have to transfer funds to your trading account to start trading. Log in first. Select “Transfer Funds” on the top right of the page.

source : https://my.hfm.com/

Since the screen below will appear, you can transfer funds to the account by specifying which account to transfer from the wallet and specifying how much money to transfer.

Of course, the trading account must be created before transferring funds.

Deposit now reflected

If the payment is not received, it may take some time to reflect. If it is a bitwallet or credit card, it will be reflected immediately or immediately, but in the case of virtual currency deposit, the exchange from which the transfer is made may be closed. Similarly, in the case of bank transfer, we can only handle bank business days.

Insufficient card balance

With credit cards, etc., processing will not proceed if the card balance is insufficient. Therefore, please contact your credit card company first to confirm. Also, in the case of BXONE, it is not possible to deposit more than the balance. If you use a credit or debit card, you may have reached your credit limit.

Rejection by card issuer

In recent years, there has been a rapid increase in the number of cases of fraud in the trading of financial products around the world. Because of that background, it is very vigilant, and there is a possibility that credit cards etc. have blocked it in the first place. First, contact your credit card company and ask them to unblock it.

Discrepancies in registered name

If the registered name and the transfer holder’s name do not match, the transfer will be rejected. If they do not match, please contact the support center after completing the payment procedure. You must first change your registration information. This applies not only when you specify a bank account transfer from a financial institution, but also when using a credit card (VISA, Mastercard, JCB).

Card expiration date

Cards that have expired cannot be used. Check the expiry date of your credit card. If the deadline has expired, you will not be able to send money in the first place. If the money is not received in time, you will end up not having enough margin. The advantage of using credit cards is that they are available 24 hours a day. HFM also offers cashback. If you are in a hurry, we recommend using an online wallet as it is easy.

Wrong remittance address

When depositing virtual currency, you must be careful not to enter an incorrect remittance address. If you send money to the wrong address, the deposit will fail in the first place. Please be careful not to copy and paste as you may lose your deposit. Be careful when handling payment services such as Ethereum, Ripple, and Bitcoin. Trouble is likely to occur. A transfer fee will also be charged.

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