HF Markets (formerly Hotforex) say their minimum deposit on some accounts is $0 but payment processors don’t allow you to deposit below $5 so technically HF Markets minimum deposit is $5 on their entry level account.
In this article, we have detailed everything you need to know about HFM minimum deposit for the different account types, different countries, and deposit methods.
Who Are HF Markets (Hotforex)?
HF Markets is an online broker that offers traders platforms and accounts to trade CFDs on Forex, Energies, Metals, Stocks, Commodities, ETFs, Bonds, Indices, and Cryptocurrencies.
They started operations in 2010 and are currently regulated by theFCA United Kingdom. FSC Mauritius, CYSEC Cyprus, FSA Seychelles, FSCA South Africa, DFSA Dubai, and CMA Kenya.
What Is the Meaning of Minimum Deposit?
Minimum deposit refers to the smallest amount of money HF Markets requires to open an account. It is also the smallest amount you can use to fund your trading account anytime.Usually, the minimum deposit varies for different account types.
How much is HF Markets Minimum Deposit?
HFM minimum deposit varies depending on the account type you are trading with.
HF Markets minimum deposit by country:
| 💼 Account | 🌍Nigeria | 🌍Kenya | 🌍South Africa |
| Cent | N7,580 | 700 KES | 100 ZAR |
| Pro | N50, 000 | 13, 000 KES | 1,800 ZAR |
| Premium | N7,580 | 700 KES | 100 ZAR |
| Zero | N7,580 | 700 KES | 100 ZAR |
| PRO PLUS | N200, 000 | 40,400 KES | 4,700 ZAR |
| Top-up Bonus | N7,580 | N/A | N/A |
In Dubai (United Arab Emirates) region, HF Markets offers different account types: the VIP Account types which have a $30,000 minimum deposit.
What Are HF Markets Minimum Deposit for Copy Trading?
| 📸 Copy Trading Account | 📸 Follower | 📸 Strategy Provider |
| Cent | 1, 000 US Cents | 2, 500 US Cents |
| Premium | $25 | $100 |
| Pro | $100 | $100 |
Only the Cent, Pro, & Premium HF Markets Account types can be used for copy trading (The HF Markets Zero Account cannot be used for Copy Trading).
Strategy Providers (SPs) are the traders you copy from, and Followers refer to you who is copying the trades of others. SPs and Followers have different minimum deposit requirements.
The minimum deposit for HFMarkets copy trading on the Pro Account is $100 for Strategy Providers and followers.
The copy trading minimum deposit for the Cent Account is $25for Strategy Providers, while followers require an opening deposit of $10.
Lastly, the HFMarkets minimum deposit for copy trading with the Premium Account is $100 for Strategy Providers and$25 for Strategy Followers.
Why Does HF Markets Set Different Minimum Deposits?
Some HF Markets accounts offer very low spread and generally better trading conditions so to access these benefits you need to pay a higher minimum deposit.
For example, the HF Markets PRO PLUS Account is commission-free on forex trades and charges low spreads from 0.2 pips, making the trading conditions great. For this the HF Markets PRO PLUS Account minimum deposit is $250.
The HF Markets Pro Account also offers commission-free trading on forex, and spreads start moderately low at 0.6 pips thus the minimum deposit is set at $100.
HF Markets accounts like the Cent & Premium Account charge higher spreads averaging 1.6 pips for EUR/USD and their minimum deposit is set lower at $5 to compensate for the not so good trading conditions.
To find out which HF Markets Account works for you read our complete HF Markets Review
What Is My HF Wallet?
You cannot transfer money directly from your bank into your trading account. You must transfer to your My HF Wallet first and when you want to trade you transfer from wallet to your trading account.
Your MY HF Wallet can be in different account base currencies depending on your country, but the Cent Account is always in US Cent base currency.
HF Markets base currency by country:
| 🌍 Country | 💱 My HF Wallet Base Currency |
| Nigeria | Naira, USD, JPY, EUR |
| Kenya | KES, USD |
| South Africa | ZAR, USD |
Can I Deposit in A Currency Different from My Account Base Currency?
Yes, you can deposit in a currency different from your account base currency, however before the fund gets to your HF Wallet, it will be converted to your account base currency using the equivalent rate.
Depositing into your trading account in a currency different from your account basecurrency attracts currency conversion fees and can reduce your trading capital.
How Do I Access HFMarkets Deposit Bonus?
Both old and new clients can claim the HF Markets Top-up bonus by opening a separate Top-up Bonus Trading Account and depositing the $5 minimum deposit.
For periods when the promotion runs indefinitely you keep getting the bonus on all deposits indefinitely. For periods when the promo is offered with an expiry date, the bonus will be applied to the first deposit only.
What Deposit Methods Are Available at HF Markets?
There are up to 12 HF markets deposit methods:
- Bank Transfer
- Mobile Money: such as MPESA, Airtel, Vooma, Equitel, Pesalink, & Bonga
- Wire Transfer
- Bank Card
- eWallets
Do HF Markets Charge Deposit Fees?
HFM does not charge deposit fees. They also have unique deposit methods for each country or jurisdiction where they operate. In the table below, we have highlighted the deposit fees and duration of some of these methods.
How Long Do HF Markets Deposits Take?
HF Markets deposits are applied instantly and take 30 minutes to reflect in your My HF Wallet.
| 🌍HF Markets Region | 💳 Deposit Methods | ✂Fees | ⏳ Duration |
| Nigeria | Banks, Cards, Crypto, eWallets | No fees | 30 minutes |
| South Africa | Banks, Cards, Crypto, eWallets | No fees | 30 minutes |
| Kenya | Banks, Cards, Crypto, eWallets, Mpesa, Airtel, Equitel, Bonga | No fees | 30 minutes |
Can I Deposit Funds Through HFM Mobile App?
Yes, you can deposit funds through the HFM mobile app. Follow the steps
- Login to your HFM app
- Click on the menu icon at the left corner of the home page
- Below the menu, you will see a green ‘deposit’ icon, click on it
- Deposit methods available to your country will be displayed on your screen
Frequently Asked Questions
How Do HF Markets MT4/5 Platform Users Deposit Funds?
It’s not possible to access your HF Wallet on MT4 or MT5 trading platforms.
You can only access your HF Markets wallet from HFM website as such if you are an MT4/5 user, you will need to visit the website to fund your trading account.
What is Negative Balance Protection at HF Markets?
If for any reason your trading account goes into negative, HF Markets will zeroize your account (meaning pay in money and bring the balance back to 0.0). You will not be required to pay any money.
What Do I Do If My Deposit Does Not Reflect in My HFM Wallet?
HF Markets help channels are available 24/5 on weekdays so you can complain via live chat, email, or telephone.
How long does Hotforex/HF Markets deposit take?
On average most HFM deposit methods like Bank transfer and e-Wallet take up to 10 minutes to reflect in your HFM Wallet. However, some other methods like Bank wire transfer can take up to 7 working days.
What is the minimum deposit for Hotforex/HF Markets?
The minimum deposit for HF Markets is $5 for Premium, Cent, & Zero Account types. However, for the Pro Account the minimum deposit is $100 and for the Pro Plus Account the minimum deposit is $250.
Does HF Markets offer a welcome bonus?
HF Markets offers a top-up bonus that allows you to get up to 20% top up on all your transfers to your HFM account.
How to claim deposit bonus for Hotforex/HF Markets?
To claim the HF Markets deposit bonus, you need to open a top up bonus account with HFM.
Can I deposit into my HF Markets wallets using someone’s account?
No, the account name you use to deposit funds into your trading account must have the same name as your trading account.
Does HF Markets segregate deposits?
Yes, your deposits are held separately (in different first-class banks) from other funds so there is no conflict of interest or commingling of funds. Your funds are not mixed with HF Markets’ internal funds.
Read our complete HF Markets Review for account opening information
