HF Markets Minimum Deposit Summary
HF Markets Minimum Deposit R0
Deposit Methods Credit/Debit Card, Bank Wire Transfer, e-Wallets
Account Types Cent Account, Premium Account, Pro Account, Pro Plus Account, Zero Account
Deposit Fees No Fees
Account Base Currencies USD, ZAR
Withdrawal Fees No Fees
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HF Markets minimum deposit in South Africa is R0.

When embarking on your forex trading journey, one of the first questions that naturally arises is, “How much money do I need to start?”

HF Markets (HFM) formerly called Hotforex, a well-established forex broker, offers a range of solutions to suit different budgets and trading styles.

Let’s explore their minimum deposit requirements of HF Markets, regulations, payment methods, step-by-step guide to deposit and more, in this review.

What is the minimum deposit for HFM

The minimum deposit on HFM is R100 or only a $5 for most payment methods. That’s an accessible amount for almost anyone looking to test the forex trading waters.

However, HF Markets have different account types that require different minimum deposit amounts to activate the account and start trading. Here is a summary:

1) Premium Account: Tailored for retail clients, the HF Markets Premium Account doesn’t enforce a mandatory minimum deposit. You can deposit any amount you prefer.

2) Pro Account: Designed for experienced retail traders, the HF Markets Pro Account requires a minimum deposit of R1,800.

3) Pro Plus Account: Geared towards experienced retail traders, the HF Markets Pro Plus Account mandates a minimum deposit of R4,700.

4) Zero Account: Ideal for retail clients engaging in high-volume trading, utilizing EAs, and seeking lower spreads, the HF Markets Zero Account doesn’t demand a mandatory minimum deposit.

5) Cent Account: Specifically crafted for new traders, the HF Markets Cent Account allows trading in forex and gold exclusively. There’s no mandatory minimum deposit, and the account balance is denoted in Cents (United States Cents), where $10 is represented as 1,000 cents.

Read more on HFM’s account in our HF Markets review.

Accepted Deposit Methods on HFM South Africa

HF Markets offers a number of options for depositing funds. Here’s what you can use:

1) Credit/Debit Cards: The classic choice, Visa and MasterCard are widely accepted on HF Markets. The minimum deposit via this method is $5 (R95) Deposits via cards on HFM are credited within 10 minutes.

Minimum withdrawal via cards on HFM is $5 (R95). It takes about 2 to 10 business days for you to receive the funds after initiating a withdrawal.

2) Bank Wire Transfers: Good for larger deposits, you can make deposits to your HFM Account through your local bank in South Africa using Rand (ZAR). Bank transfer deposits are credited within 10 minutes.

The minimum deposit for bank transfer deposit on HFM in South Africa is R100.

The minimum withdrawal via bank transfer is R70 and it takes 1 to 3 business days for funds to reach your account.

3) E-wallets: Popular options like Skrill and Neteller are supported for deposits on HF Markets. E-wallet deposits are credited within 10 minutes to your trading account. The minimum deposit amount for e-wallets on HF Markets is $5 (R95).

Minimum withdrawal with e-wallets on HFM is also $5 (R95) and it takes only 10 minutes for you to receive the funds or it happens instantly.

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Note: CFD trading is risky

HF Markets Deposit Methods Table

Here is a summary of payment methods accepted by HF Markets for deposits.

Deposit Methods Availability Minimum Deposit Charges Processing time
Internet banking/bank transfers Yes R100 Free 10 minutes
Cards Yes R95 ($5) Free 10 minutes
E-wallet Yes (Skrill & Neteller) $95 ($5) Free 10 minutes

HF Markets Deposit Rules

1. Deposit Fees: HF Markets does not charge any deposit or withdrawal fees. Nonetheless, the third-party payment processing platform you use, such as your bank or card, may impose independent transaction fees.

2. Deposit Time: You can initiate deposits and withdrawals from your trading account at any time, on any day. However, in cases where instant processing is not feasible, you may experience a wait time of up to 24 hours for deposits and up to a few days for withdrawals.

3. Payment Source: HF Markets only accepts deposits from payment methods (bank account and cards) that are in the same name as the name used on your HFM trading account.

Withdrawals are also only made to same sources you have used to make deposits and must bear your name as well. HFM does not process payments from or to a third party account.

How do I deposit money into my HFM account?

Step 1) Sign in to your dashboard by accessing the HF Markets website or via my.hfm.com/za/login.

HotForex South Africa login page

Step 2) Once logged in, navigate to the left column menu (desktop view) and click on ‘Deposit’. Choose ‘Bank Transfers’, then select ‘Direct Online Banking’ to proceed with deposits in Rand.

HotForex South Africa Deposit options

Step 3) On the Direct Online Banking page, input the desired amount in ZAR, verify your address and email, then click ‘Deposit’.

HotForex ZAR deposit

Step 4) A pop-up window will appear for selecting either Online Bank Wire or QR Code Payment. Opt for Online Bank Wire, choose your bank, and follow the provided instructions to finalize your deposit.

South African Banks Supported by HotForex

Step 5) Upon successful deposit, the funds will be credited to your myWallet. Transfer these funds to a trading account on your dashboard to commence trading.

Locate ‘Transfer Funds’ on the left side menu, enter the transfer amount, click ‘start transfer’, and follow the on-screen prompts to complete the transfer.

Note: Please keep in mind that HF Markets only approves deposits from accounts or payment methods that bear the same name as your HF Markets trading account.

Comparison Of HF Markets Minimum Deposit With Other Brokers

Here is a comparison of HF Markets minimum deposit with that of their competitors.

Broker Minimum Deposit
HF Markets R0
Exness R190 ($10)
OctaFX R480
Plus500 R750
AvaTrade R1,950
XM R95 ($5)

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Note: CFD trading is risky

HF Markets South Africa Minimum Deposit FAQs

What is the minimum deposit for HFM zero account?

$0. The Zero Account on HF Markets requires no mandatory minimum deposit. You can activate the account without any deposit, however to start trading, you must make a deposit, and the minimum deposit you can make via the payments method is R100 or $5.

How long does HFM deposit take?

Credit/debit card payments and e-wallets are usually instant or within 10 minutes. Local bank transfers in rand are deposited instantly while international bank wire transfers may take a few business days to reflect on your account. The processing time for your deposits to show in your account depends on your chosen deposit method.

How much does it cost to start trading on HFM?

HF Markets has accounts with no mandatory minimum deposits, but to start trading on HF Markets platform, you will need to deposit a minimum of ZAR 100 or $5. HFM does not charge any deposit fees, but you will pay spread on the trades you initiate.

What is the minimum deposit in ZAR for HF markets?

The minimum deposit on HF Markets is R100 via local bank transfers. The minimum deposit is $5 with cards or e-wallets.

Does HF Markets Charge for Deposits?

HF Markets generally doesn’t charge deposit fees. That means any time you top up your trading account, the entire amount arrives intact.

Does HFM give no deposit bonus?

HFM offers 20% deposit bonus on all transfers to your trading account. This bonus is capped at a maximum of 90,000 rand. This is called ‘Top-up bonus’, it is available to all clients and while you cannot withdraw the bonus, any profits realised from using it to trade can be withdrawn.

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Note: Your capital is at risk

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