[HFM (former hotforex): For beginners] Deposit methods, deposit bonuses, fees, reflection time thorough explanation

HFM

After opening an account, the next step is to make a deposit. HF Markets offers a variety of deposit methods, making it a very user-friendly company. Then, we will summarize what kind of deposit methods are available as an article.

Deposit rule

Please note the following rules when making a deposit. Currently, when comparing overseas FX brokers such as HFM, the procedures are a little more complicated. The following conditions apply to the provision of services:

deposit fee

Deposit fees are basically free. However, no matter which medium you use, you will be charged a fee for that medium, so be aware of that. However, don’t worry, there are no fees within the HFM system.

Be sure to use the same name as the HFM account.

One of the deposit rules is that the deposit must be processed by the same name as the registered name of HFM. Please note that anonymous deposits will not be accepted and the deposit will be refused. You can check the HFM account name by looking at your myHF profile, so it is better to check it carefully before processing the deposit. This is a measure to prevent money laundering.

Withdrawals can only be made to the same financial institution up to the amount deposited.

The deposit amount can only be withdrawn from the same financial institution that was used for the deposit. However, any profits that exceed the deposit amount can be withdrawn from any financial institution. That’s why you might say it’s confusing.

Deposit to trading account

There was an update in HFM in 2023. Until now, the system was to deposit money into the wallet and then deposit it into each account. If you want to deposit money right away, you can now do it faster. If you want to deposit money directly into your trading account, you can specify the account number and it will be reflected immediately.

Deposit method and procedure

In order to deposit money, you will first need to open an account. Let’s create an account. We will explain the deposit methods and methods one by one. The platform can be used with MT4 and MT5, there are accounts with narrow spreads, and it is characterized by a wide range of bonuses and campaigns. The leverage is over 1000x and trading is possible 24 hours a day.

If you want to have the amount reflected in your account faster, we recommend using a credit card (VISA). By the way, no matter which deposit method you use, there are no fees. As an overview, you can easily make new transfers not only by credit card, but also by debit card (JCB), bank transfer, Bitcoin, etc. If you make a bank transfer yourself on a weekend instead of a weekday, it will be processed the next business day. Check it out below.

Minimum deposit amountMaximum deposit amountreflection time
Bank10001100000Within 10 minutes on business days
JCB$5$25000Within 10 minutes
VISA10000500000immediate
BXONE10001000000Within 10 minutes
virtual currency$30$10000Within 10 minutes
bitwallet10005000000Within 10 minutes
bitpay$5$10000Within 10 minutes

Deposit operation method

Deposits can be made from the left menu on My Page. Click “Deposit”. The advantage is that HFM does not charge a transfer fee, but each service provider charges a fee, so be sure to check. Bank accounts have the highest fees. Bitcoin and other bitwallets are faster until the money arrives.

The following screen will appear, so click on the method you prefer.

Bank transfer

Enter the deposit amount in the “Enter Amount” field. After entering the amount, click “Deposit” at the bottom left of the screen. “Name”, “surname”, “address”, etc. are displayed with the information you registered when you opened the account.

You will be taken to the bank transfer information page, so please make a deposit to the displayed remittance address. As a point of caution, please be sure to enter the reference number in the name of the transferee when making the payment. If you forget to put it in, please contact the support center. Also, if payment is not made within 60 minutes, you will have to apply again.

BXONEDeposit

BXONE deposit is also possible. Enter the currency and deposit amount in the “Enter Amount” field. Click “Deposit”. After that, log in to BXONE and confirm that there are no errors in the remittance destination, currency, and deposit amount, then click “Continue”.

Credit card, bitwallet deposit

Since 2018, HF Markets has enabled credit card deposits via bitwallet. You can deposit by registering your credit card with bitwallet. We accept VISA, JCB, MasterCard, American Express and Diners. Once you have entered all the information, click “Deposit” in the lower left corner. After that, go to the bitwallet login screen and log in. After confirming the remittance information, enter the “Security Code” and click “Payment”. bitwallet deposit is now complete.

Virtual currency deposit

You can also deposit in virtual currency. Select the amount and payment coin. Only BTC, LTC, ETH and USDT are supported. Click “Deposit”. Then, the screen will change, and please use the displayed QR code or bitcoin address to make a bitcoin deposit.

bitpay Deposit

You can deposit with bitpay. Enter the amount and select “Deposit”. The screen will change and it will be a bitpay payment confirmation. When you click Start Payment, the payment screen will appear. Click the submit button to proceed to the virtual currency QR code screen. Scan the QR code from the application and follow the instructions to send the virtual currency.

Frequently asked questions about deposits

We have compiled a list of frequently asked questions regarding deposits. This is not only HFM, but also exness, fxpro, xm, bigboss, threetrader, etc.

Insufficient funds

When making a deposit to an online wallet such as bitwallet, there are cases where the online wallet does not have enough funds to make the deposit. In this case, please make the deposit to bitwallet and not HFM before processing.

Rejection by credit card payment company

Investment fraud has become very common in recent years. As a countermeasure against this, financial institutions may unconditionally block deposits to Forex companies and virtual currency exchanges as a countermeasure against fraud. If your credit card payment fails, please contact your credit card company.

Minimum deposit amount not reached

If the minimum deposit amount is not reached, the deposit will be refused. The minimum deposit amount is also introduced at the top of this article, so please make sure to deposit the amount that reaches the minimum deposit amount.

Mismatch in registered name

HFM takes anti-money laundering measures. If the registered name does not match, you will not be able to make a deposit. Regardless of the deposit method, the names must match. Please note that if there is a mismatch, your application will be rejected.

I forgot my reference number

In the case of bank transfer, if the reference number specified by HFM is not entered in the sender field, the payment process will be stopped. It is not possible to link this to who made the transfer, and customer support cannot process the transaction, so we recommend that you contact support.

Currencies that can be deposited

There are three currencies that can be deposited: Japanese yen, US dollar, and euro. This applies no matter which payment method you use.

deposit bonus

HFM has bonuses that are always available.

100% deposit bonus

A 100% deposit bonus is a bonus that is generated for the first deposit into a Top Up Bonus account. However, this bonus is held from time to time and is for a limited period, so it is not always available. This bonus was held in 2023. There is no need to apply for the 100% deposit bonus, and it is automatically granted when you make a direct deposit or transfer funds to your Top Up Bonus account.

periodSeptember 1, 2023 – September 8, 2023
Bonus amountup to $500
Target accountbonus account
conditionsGranted automatically when you make your first deposit

Top up 20% bonus

HFM’s Top Up 20% Bonus is a 20% bonus for deposits into the Top Up Bonus account. There is no need to apply for HFM’s Top Up Bonus, and you will receive it by depositing funds into My Wallet within HFM and transferring funds to your Top Up Bonus account.

Points to note about deposit bonuses

There are some things to keep in mind when using deposit bonuses. Firstly, the bonus cannot be withdrawn. Bonuses can only be used as margin. Also, only one deposit bonus account can be opened per person. Multiple accounts cannot be created. Please also note that bonuses require funds to be transferred to the bonus account.

How to use deposit bonus

There are several ways to use the deposit bonus:

Can also be used in conjunction with cashback

HFM’s top-up bonus account allows you to receive bonuses and cashback in one account, and is also recommended for those considering using a rebate account. This is highly recommended as it can be used in conjunction with cashback.

Increase margin maintenance rate

If your losses have risen to the level of a margin call, you can escape to a safe zone by giving a bonus. If the margin maintenance rate increases, it will be advantageous because it will be possible to lower the risk of loss cuts.

Disappears when funds are transferred

The bonus will disappear when the funds are transferred. It also disappears when you make a withdrawal. Therefore, please note that the bonus can only be used as margin and cannot be converted into cash.

With cushion function

A bonus feature of HFM is the cushion function. As introduced in the article below, the cushion function means that you can turn your bonus into margin. The cushion feature allows you to trade with just the bonus, which can be used as margin just like cash.

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