HF Markets (formerly Hotforex) states that while their minimum deposit on some accounts is $0, payment processors do not allow deposits below $5, so technically the minimum deposit for HF Markets is $5 on their entry level account.
In this article, we have explained everything you need to know about the minimum deposit for different account types, countries, and deposit methods at HFM.
Who Are HF Markets (Hotforex)?
HF Markets is a digital broker that provides trading platforms and accounts for trading CFDs on Forex, Energies, Metals, Stocks, Commodities, ETFs, Bonds, Indices, and Cryptocurrencies.
They began operations in 2010 and are currently regulated by the FCA 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 is 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 at any time. Usually, the minimum deposit varies for different account types.
How much is HF Markets Minimum Deposit?
The minimum deposit for HFM varies depending on the account type you are trading with.
- Cent Account: $5 minimum deposit
- Premium Account: $5 minimum deposit
- Zero Account: $5 minimum deposit
- PRO Account: $100 minimum deposit
- PRO PLUS Account: $250 minimum deposit
- Top-up Bonus Account: $5 minimum deposit
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 reason, 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 discover which HF Markets Account is suitable for you, read our full HF Markets Review
What Is My HF Wallet?
You can't directly move money from your bank to your trading account. First, you have to transfer it to your My HF Wallet. When you want to trade, you transfer from your wallet to your trading account.
Your MY HF Wallet can have different account base currencies based 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 different currency, but before the fund reaches 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 incurs currency conversion fees and can decrease 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.
During periods when the promotion runs indefinitely, you'll continue receiving the bonus on all deposits indefinitely. During periods when the promo is offered with an expiry date, the bonus will only be applied to the first deposit.
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 appear 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?
You can't access your HF Wallet on MT4 or MT5 trading platforms.
To fund your trading account, MT4/5 users need to visit the website because it's not possible to access the HF Markets wallet from MT4/5 trading platforms.
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 they will deposit 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 much time does it take for Hotforex/HF Markets to process a deposit?
Most deposit methods for HFM, such as Bank transfer and e-Wallet, usually take around 10 minutes to show up in your HFM Wallet. However, certain methods like Bank wire transfer may take up to 7 working days.
What is the minimum amount required to 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, it is $250.
Does HF Markets provide a welcome bonus?
HF Markets offers a top-up bonus that allows you to receive up to 20% extra on all your transfers to your HFM account.
How can I claim a deposit bonus for Hotforex/HF Markets?
In order to claim the HF Markets deposit bonus, you must open a top-up bonus account with HFM.
Am I allowed to deposit into my HF Markets wallets using another person’s account?
No, the name of the account you use to deposit funds into your trading account must match the name on your trading account.
Does HF Markets keep deposits separate?
Yes, your deposits are held separately (in different first-class banks) from other funds to avoid any conflict of interest or mixing of funds. Your funds are not combined with HF Markets’ internal funds.
Read our complete HF Markets Review for account opening information
