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HFM Minimum Deposit

HFM Minimum Deposit

Overall, the minimum deposit amount required to register a live trading account is $5, this minimum deposit is equivalent to 599 KES. HFM is considered trustworthy, with an overall Trust Score of 9 out of 10.

Updated : September 28, 2022

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HFM Minimum Deposit

Minimum Deposit Overview

HFM Minimum Deposit

Deposit Fees and Methods

HFM Minimum Deposit

Step By Step guide to depositing the Minimum Deposit

HFM Minimum Deposit

Pros and Cons

HFM Minimum Deposit

Final Verdict

HFM Minimum Deposit

FAQ

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Minimum Deposit

👉 HFM charges a minimum deposit amount of 5 USD.

 

👉 This is equivalent to 590 Kenyan Shilling (KES), based on the current conversion rate between the US Dollar and the Kenyan Shilling. HFM only accepts deposits in the United States Dollar or South African Rand (ZAR).

 

👉 The minimum deposit that Kenyan traders must make to open an HFM account will vary according to the account type. The minimum deposit requirements are as follows:

➡️ Micro Account – 5 USD or 590 KES

➡️ Premium Account – 100 USD or 1,100 KES

➡️ Zero Spread Account – 200 USD or 23,900 KES

➡️ HFCopy Account – $300 for Strategy Providers (3,500 KES) and $100 for Followers (1,100 KES)

 

👉 HFM is well-regulated, and although the broker is not regulated by the Capital Markets Authority (CMA), the funds of HFM and HF Markets are maintained in segregated accounts at the world’s top banks, away from the broker account.

 

👉 The broker has access to Civil Liability insurance coverage with a maximum of €5,00,000. This program safeguards traders against the danger of monetary loss resulting from errors, negligence, omissions, and other types of fraud.

 

👉 Negative balance protection is a risk management strategy made accessible to all retail trading accounts by HFM. Regardless of market volatility, HFM’s negative balance protection is in force, which ensures that if a client’s account goes negative, they are not required to pay the broker back.

Deposit fees and deposit methods

HFM Minimum Deposit

👉 HFM does not subject Kenyan traders to deposit fees and deposit methods that traders can use when they pay the minimum deposit amount are:

➡️ Bank Transfers

➡️ Credit Cards

➡️ Debit Cards

➡️ Skrill

 

👉 When traders make a minimal deposit, they can only choose between USD and ZAR as deposit currencies. Unfortunately, as a result, Kenyan traders cannot make deposits in local currency and may incur conversion costs when making deposits in foreign currencies.

Step-by-step guide to depositing the minimum amount

👉 Step 1:  Go to either the Hotforex App or Website.

➡️ Navigate to the Login button that is made available at the top of the HotForex website.

Hotforex Min Deposit Step 1

 

👉 Step 2:  Click on “login” – myHF”.

➡️ Click on “login” – myHF” for the following step to become available.  Never share this information.

Hotforex Min Deposit Step 2

 

 

👉 Step 3:  Enter Account ID & Password and Click on the Red “Log In” button.

➡️ Enter the personal information required and log in to the user account.

Hotforex Min Deposit Step 3

➡️ Aside from great deposit method options, there is a specified minimum deposit amount that is determined by the payment method chosen. Always verify this information with HFM customer support.  Traders will typically be allowed to top up their live trading account from $5.

 

👉 Step 4:  Log in to myHF area and then press “Deposit”.

➡️ Once a trader has pressed the deposit button located on the right-hand side of the screen, Payment options will become available.

Hotforex Min Deposit Step 4

 

👉 Step 5:  Choose a suitable payment system and click on it.

➡️ The payment options available will include Credit/Debit Cards, Bank Transfers, and alternative options.

Hotforex Min Deposit Step 5

 

👉 Step 6:  Choose the currency, type the amount of money you want to deposit, and press “Deposit”.

➡️ Investors can now select the currency and amount that they wish to deposit.

Hotforex Min Deposit Step 6

 

👉 Step 7:  Enter your Bank Card Details as needed and press “Pay”.

➡️ Traders will be required to enter their bank account details to complete payment.

Hotforex Min Deposit Step 7

 

➡️ Once these 7 Steps to deposit a minimum amount have been successfully completed, you will receive an on-screen confirmation.

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

HFM Kenya Pros and Cons

✔️ Pros❌ Cons
Well-regulated CFD and Forex broker that has a decent trust scoreUnited States clients and some other regions are not accepted by HotForex
The spreads offered are low and competitiveThere may be restricted leverage for EU clients because of regulatory requirements
There are several account types to choose from with reasonable trading fees chargedThere are no variable spread accounts offered
HotForex welcomes all types of traders and trading strategiesLimited funding options offered for deposits and withdrawals
There is a low minimum deposit requirement and secure methods for deposits and withdrawals
Suited to beginner traders and experienced traders
Offers comprehensive expert trading and market analysis
Offers a decent selection of educational tools and a range of trading tools

Verdict on HFM

👉 Overall, HFM is very competitive in terms of its trading fees and spreads.

FAQ

How much can I deposit to HFM?

HFM’s minimum deposit starts from 5 USD and increases according to the account type that you register.

 

Does HFM have a KES Account?

No, HFM only offers accounts denominated in USD, ZAR, and NGN.

 

How long does it take to deposit to HFM?

Bank wire transfer deposits will take between five to seven days to reflect in the trading account, while all other methods (Credit/Debit Card and Skrill) will take up to 10 minutes.

 

Does HFM offer a deposit bonus?

Yes, HFM offers a 50% welcome bonus on deposits of at least 50 USD / 5,900 KES in addition to a 100% boosted deposit bonus on all deposits of 250 USD / 29,800 KES.

 

Can I trade with 1,100 KES with HFM?

Yes, you can start trading with 1,100 KES by using leverage offered by HFM to open larger positions.

9.2/10 - (17 votes)