The online brokerage firm HFM requires a capital deposit from the trader owning the brokerage account to activate the CFD and Retail foreign exchange (Forex) trading platform.
There’s no minimum amount required with HFM, and the deposit methods accepted include wire transfer, debit card, credit card and eWallet. It should be noted that the minimum deposit with HFM may vary depending on the type of trading account chosen.
HFM generally does not charge commissions on deposits, but conversion fees may apply if depositing in a currency different from the account base currency.
What is the HFM minimum deposit?
The HFM minimum deposit is $0 for a micro account, premium account, HFcopy account and a zero account.
These are the most popular account types, however there are more solutions that HFM offer to its clients depending on their country of residence.
The offer available to you will depend on the entity of HFM you trade with and so will vary the base currencies you can choose.
There are plenty of payment methods that again will be available to you based on your residence.
The HFM minimum deposit features are listed in this table below:
| HFM DEPOSIT FEATURES | CHARACTERISTICS |
|---|---|
| HFM micro account | $0 minimum deposit |
| HFM premium account | $0 minimum deposit |
| HFM zero account | $0 minimum deposit |
| HFM HFcopy account | $0 minimum deposit |
| HFM premium pro account | $5,000 minimum deposit |
| HFM VIP account | $20,000 minimum deposit |
| HFM auto account | $0 minimum deposit |
| HFM PAMM account | $250 minimum deposit |
| Deposit fees | No |
| Withdrawal Fees | No |
| Base Currencies | EUR, USD, GBP, CHF, PLN, JPY, ZAR, NGN, AED |
(70.51% of retail CFD accounts lose money)
Now that you know the minimum deposit amount you can delve into the individual HFM account types offered before opening one.
What are the HFM account base currencies?
The HFM account base currencies include USD, EUR, JPY, NGN, ZAR, PLN.
The list may vary depending on the account type and the HFM Group entity you are trading with.
Using another currency may incur a conversion fee.
What are the HFM funding and deposit methods?
The HFM deposit methods features and fees are listed below.
- Wire Transfer: This method of deposit is available around the world to all traders. There is no minimum deposit associated, although as a trader you should be aware that a deposit of under $250 will leave you liable for a bank fee. The time it takes to process your deposit ranges between 2-7 business days.
- Credit/Debit Cards: HFM accepts Visa, Mastercard and Maestro credit/debit cards. The HFM minimum deposit that applies to this funding method is $50 and the process is completely free of any fee. The processing time takes a maximum of 10 minutes.
- eWallets: HFM accepts two eWallets, and these are Neteller and Skrill. The minimum deposit using these methods is $5, although under FCA and CySEC regulation this minimum is increased to $50. The deposit itself should be accessible within 10 minutes.
- Other Methods: There are other HFM deposit methods available which depend on where you are located in the world. If you are trading from within South America, other local deposit methods from a number of local banks are available although fees could vary in these cases.
What are the steps to fund your HFM account?
The steps to fund your HFM account are listed below:
- Create a HFM account:
The very first step you should consider making is opening a HFM demo account.
Feel free to read our HFM demo guide for more information about it.
- Verify the HFM account:
When you’re ready to open a live HFM account, you will need to provide the broker with an ID or preferably a passport to prove your identity, and a bank statement or utility bill to prove your address.
- Fund your HFM account:
With your account verified, you will be ready to make your first deposit through bank wire, credit card, debit card or eWallet.
- Wait for the HFM approval:
Once you have deposited into your account, processing should be quite fast. Typically, this is as soon as one day but it will depend on the deposit method you have chosen.
How does the HFM minimum deposit compare with other major brokers?
The comparison between HFM’s minimum deposit and those of other brokers can be found in this table below:
| FEATURES | HFM | PEPPERSTONE | XM |
|---|---|---|---|
| Minimum deposit | $0 | $0 ($200 recommended) | $5 |
| Wire transfer | Yes | Yes | Yes |
| Credit card | Yes | Yes | Yes |
| PayPal | No | Yes | No |
| Number of deposit methods | 10 | 9 | 6 |
| Base Currencies | EUR, USD, GBP, CHF, PLN, JPY, ZAR, NGN, AED | USD, EUR, NZD, AUD, GBP, CHF, HKD, JPY, CAD, SGD | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Does HFM offer deposit bonuses?
HFM offers a $30 no deposit bonus.
Although this amount is not immediately available for you to withdraw, you can do so once you have met some of the trading requirements. You can then withdraw any profits which you have made from this HFM no deposit bonus.
However, this is not available for ESMA, FCA and ASIC traders. Terms and conditions may also apply.