Exness Review
HFM Fund Withdrawal Step by Step
Overall, HFM Fund Withdrawal offers a simple process for Botswana Traders. HFM is considered average-risk, with an overall Trust Score of 9 out of 10. HotForex is regulated by HFM Investments Limited.
- Louis Schoeman
Jump to:
Fund Withdrawal Step by Step
Detailed Withdrawal Information
Terms and Conditions
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
HFM at a Glance
| 🏛 Headquartered | Cyprus |
| 🌎 Global Offices | Seychelles, South Africa, Dubai, UK, Kenya |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2010 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 1️⃣ Tier-1 Licenses | • Financial Conduct Authority (FCA) |
| 2️⃣ Tier-2 Licenses | • Financial Sector Conduct Authority (FSCA) • Cyprus Securities and Exchange Commission (CySEC) • Capital Markets Authority (CMA) • Dubai Financial Services Authority (DFSA) |
| 3️⃣ Tier-3 Licenses | • Financial Services Authority (FSA) • Financial Services Commission (FSC) |
| 🪪 License Number | • South Africa – FSP 46632 • Cyprus – 183/12 • Dubai – F004885 • Seychelles – SD015 • United Kingdom – 801701 • Mauritius – 094286/GBL • Kenya – CMA license 155 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Global Restrictions | • France ACPR – 53684 • Germany BaFin – 132342 • Hungary MNB – K8761153 • Italy CONSOB– 3673 • Norway – FT00080085 • Spain CNMV – 3427 • Sweden FI – 31987 • Austria FMA • Bulgaria FSC • Croatia HANFA • Czech Republic CNB • Denmark Finanstilsynet • Estonia FSA • Finland FSA • Greece HCMC • Iceland FME • Central Bank of Ireland • Latvia FKTK • Liechtenstein FMA • Lithuania Lietuvos Bankas • Luxembourg CSSF • Malta MFSA • Poland KNF • Portugal CMVM • Romania ASF • Slovakia NBS • Slovenia ATVP |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 5 |
| ✔️ PAMM Accounts | No |
| 💻 Liquidity Providers | Barclays UK, BNP Paribas, and others |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | 0.0 pips |
| 📉 Minimum Commission per Trade | $3 to $4 |
| 💰 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | Between 40% to 50% |
| 🛑 Stop-Out | Between 10% and 20% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 60 lots |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | Yes |
| 📈 Maximum Leverage | 1:2000 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 0 BWP or an equivalent to $0 |
| ✔️ Botswana Pula Deposits Allowed? | Yes |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based HFM customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Bank Wire Transfer • Electronic Transfer • Credit Card • Debit Card • Skrill |
| 💻 Minimum Withdrawal Time | 10 Minutes |
| ⏰ Maximum Estimated Withdrawal Time | 10 business days |
| 💳 Instant Deposits and Instant Withdrawals? | No |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • HF App |
| 💻 Tradable Assets | • Forex • Precious Metals • Energies • Indices • Shares • Commodities • Cryptocurrencies • Bonds • Stocks DMA • ETFs |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | None |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | 20 Languages |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Botswana-based customer support? | No |
| 💸 Bonuses and Promotions for Botswanans? | No |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is HFM a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for HFM Botswana | 9/10 |
| 🥇 Trust score for HFM Botswana | 85% |
| 👉 Open Account | 👉 Open Account |
How to Withdraw Funds Step by Step
Traders who want to withdraw funds from the trading account can follow these few steps:
STEP 1. Log Into Their “myHF”
Botswanans can log into their “myHF” portal and select “Fund Withdrawal” from the available options.
STEP 2. Payment Method
Botswanans must select the payment method that they used with their initial deposit and provide the amount they wish to withdraw.
Botswanans must ensure that they have enough funds/free margin in their account before they submit the withdrawal request.
Next, Botswanans can follow the onscreen instructions to proceed with their withdrawal request and submit it to HFM to complete the withdrawal process.
Withdrawals submitted before 10:00am server time are processed on the same business day between 7:00am and 5:00pm server time.
Clients wishing to withdraw below the minimum levels presented will be required to cover all charges associated with the withdrawal request.
Detailed Withdrawal Information for Traders
HFM offers a few payment methods that can be used to withdraw funds in addition to supporting USD and ZAR as deposit currencies. The processing time on withdrawals will depend on when the withdrawal request was submitted, and the overall withdrawal method used.
For more information on withdrawals with HFM, Botswanans can consult the comprehensive table below.
HFM Deposit Currencies, Deposit and Withdrawal Processing Times, Minimum Withdrawal Amount and Maximum Deposit Amounts
| 💻 Payment Method | 💵 Deposit Currencies | 💰 Deposit Processing | 💳 Withdrawal Processing | 💸 Max Deposit | 📱 Min Withdrawal |
| Bank Wire Transfer | USD, ZAR | 2 to 7 working days | 2 to 10 working days | Unlimited | 100 USD |
| Electronic Transfer | USD, ZAR | Up to 10 min | 2 to 10 working days | 10,000 USD | 10 USD or 70 ZAR |
| Credit Card | USD, ZAR | Up to 10 min | 2 to 10 working days | 10,000 USD | 5 USD |
| Debit Card | USD, ZAR | Up to 10 min | 2 to 10 working days | 10,000 USD | 5 USD |
| Skrill | USD, ZAR | Up to 10 min | Up to 10 Min | 10,000 USD | 5 USD |
What is the withdrawal process for traders on HotForex, and how long does it typically take?
The withdrawal process on HotForex is straightforward and user-friendly. Traders can request withdrawals by logging into their secure client portal and selecting the withdrawal option.
Are there any withdrawal fees or charges when withdrawing funds from a HotForex trading account?
HotForex does not typically charge withdrawal fees to its clients for standard withdrawal requests.
Fund Withdrawal Terms and Conditions
Requests for withdrawals made before 10 am server time on Mondays to Fridays are typically completed the same business day between 7 am and 5 pm.
If a client requests a withdrawal amount that is lower than the minimum amount stated, they will be responsible for paying all fees related to the withdrawal.
HFM Botswana Pros and Cons
| ✔️ Pros | ❌ Cons |
| The HFM withdrawal process is quick | Botswanans cannot use locally available payment methods to withdraw funds |
| There are dependable withdrawal methods offered to Botswanans | Currency conversion fees apply if Botswanans withdraw in BWP |
| Botswanans need not worry about withdrawal fees with HFM |
Verdict on HFM
Overall, HFM is very competitive in terms of its trading fees and spreads.
You might also like: HFM Review
You might also like: HFM Account Types
You might also like: HFM Minimum Deposit
You might also like: HFM Islamic Account
You might also like: HFM Demo Account
Conclusion
Now it is your turn to participate:
Do you have any prior experience?
What was the determining factor in your decision to engage?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below
Frequently Asked Questions
Does HFM provide withdrawals in real-time (instant withdrawals)?
No, HFM does not allow withdrawals in real-time. The minimum processing time is 10 minutes.
Can I withdraw funds to a bank account other than my own?
No, you may not. Due to stringent Anti-Money Laundering standards, you may only withdraw money to an account registered in the same name as the account holder.
Can I withdraw to a Skrill account if I make a card deposit?
No, you must utilize the same payment method you used for deposits. Before utilizing any other withdrawal method, you must withdraw the same amount you placed using a specific withdrawal method.
How long does the HFM withdrawal procedure take?
HFM withdrawals might take anything from 10 minutes to several days.
How can I withdraw funds from my HFM account?
You may use Credit/Debit Cards, Bank Transfers, or Skrill to withdraw money.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
