The HFM minimum deposit requirement is account-dependent and ranges between $0 for Micro, $100 for Premium, $200 for Zero Spread accounts, $250 for PAMM accounts, and $500 for signal providers. Read more for the full HFM broker review.
MinimumDeposit | HFM | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Commission-Free | $0 | $0 | $1 | $100 | $100 |
Commission-Based | $200 | $0 | $1 | $100 | $100 |
How to Make a Deposit with HFM
An HFM deposit functions similarly to online banking via myHF, the secure and user-friendly HFM back office, which handles all financial transactions. Traders may deposit using bank wires, credit/debit cards, Skrill, Neteller, FasaPay, PayRedeem, and cryptocurrencies, but the name on the payment processor must match that of the HFM account. The HFM minimum deposit amount depends on the account type and ranges between $0 and $500.
HFM Deposit Fees and Deposit Methods
HFM does not levy internal deposit fees. Therefore, if a trader makes a $500 deposit into a US Dollar base account, they will receive $500. Third-party payment processor and currency conversion costs may apply.
HFM deposit methods, processing times, and limitations:
Deposit Method | Processing Time | Deposit Currencies | Minimum Single Deposit | Maximum Single Deposit | WithdrawalOption |
|---|---|---|---|---|---|
Bank wires | Two to seven days | Account base currencies | $100 | Unlimited | Yes |
Credit/debit | Up to ten minutes | Account base currencies | $0 | $10,000 | Yes |
Skrill | Up to ten minutes | USD, EUR | $10 | $10,000 | Yes |
Neteller | Up to ten minutes | USD, EUR | $0 | $10,000 | Yes |
FasaPay | Instant | USD | $0 | $5,000 | Yes |
PayRedeem | Up to ten minutes | USD | $10 | Tier-dependent | Yes |
Cryptocurrencies (Crypto) | Instant | Account base currencies | $30 | $10,000 | Yes |
Cryptocurrencies (BitPay) | Up to ten minutes | Account base currencies | $0 | $10,000 | Yes |
Noteworthy:
- The HFM back office lists all available payment methods.
- Withdrawals must follow the deposit path, especially for the initial deposit.
HFM deposit methods vs. similar brokers
DepositMethods | HFM | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Bank wires | Yes | Yes | Yes | Yes | Yes |
Credit/debitcards | Yes | Yes | Yes | Yes | Yes |
Skrill | Yes | Yes | Yes | Yes | Yes |
WebMoney | No | No | Yes | Yes | No |
ChinaUnionPay | No | Yes | No | Yes | No |
PerfectMoney | No | No | Yes | No | No |
Othere-wallets | Yes | Yes | Yes | Yes | Yes |
LocalizedMethods | No | Yes | Yes | No | No |
Crypto-currencies | Yes | Yes | Yes | No | No |
HFM Deposit Currencies
Traders must differentiate between account base and deposit currencies to avoid confusion and potential currency conversion fees. The former is the base currency of a trading account, and the latter are currencies available for deposits through payment processors.
HFM supports the following deposit currencies:
- Euro
- US Dollar
- Japanese Yen
- Nigerian Naira
Noteworthy:
- A currency conversion fee exists for deposits in an unsupported account base currency, which HFM does not specify in detail, but notes as reasonable exchange rates.
HFM trading account currencies vs. similar brokers.
AccountCurrencies | HFM | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
US Dollar | Yes | Yes | Yes | Yes | Yes |
Euro | Yes | Yes | Yes | Yes | Yes |
British Pound | No | Yes | No | Yes | Yes |
Swiss Franc | No | Yes | No | No | Yes |
AustralianDollar | No | Yes | No | No | No |
Others | Yes | Yes | Yes | No | Yes |
Total | 4 | 10 | 3 | 3 | 10 |
Steps for Sending the HFM Minimum Deposit
Traders must verify their trading account before making the HFM minimum deposit. Most will be able to satisfy this by uploading a copy of their government-issued ID and one proof of residency document.
Here is a step-by-step guide to sending your HFM minimum deposit:
1. Log into myHF, and navigate to the “Deposit” tab.
2. Choose your desired payment processor, enter the deposit amount, and follow the on-screen instructions.
3. HFM will notify clients once it credits the deposit to the trading account.
HFM Minimum Deposit - Pros & Cons
Before considering HFM as a broker, traders should evaluate the pros and cons of the HFM minimum deposit.
The pros of the HFM minimum deposits are:
- No internal deposit fees and small HFM minimum deposit amounts
- Segregation of client deposits from corporate funds
- Trusted broker with 12+ years of experience
- Choice of cryptocurrencies and e-wallets
The are no obvious cons of the HFM minimum deposit.
Bottom Line
The HFM minimum deposit depends on the account type, which ranges between $0 and $500. Traders can deposit in USD, EUR, JPY, and NGN without internal deposit fees. Third-party payment processors and currency conversion fees may apply, and processing times depend on the payment processor. The HFM deposit methods are bank wires, credit/debit cards, Skrill, Neteller, FasaPay, PayRedeem, and cryptocurrencies (Crypto / BitPay). The HFM minimum deposit requirement is $0 for the Micro account, $100 for the Premium account, $200 for Zero Spread accounts, $250 for PAMM accounts, and $500 for signal providers. No, HFM does not offer a no-deposit bonus but lists three bonus programs plus a high-paying affiliate program.FAQs
What are the HFM deposit methods?
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