HFM Minimum Deposit

Overall, HFM Minimum Deposit amount required to register a live trading account is $0, this deposit is equivalent to 0 BWP. HFM is considered trustworthy, with an overall Trust Score of 9 out of 10.

Updated : October 6, 2023

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Overall Rating

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

Account Activation Time

24 Hours

on HFM’s website

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 • Twitter • Instagram • LinkedIn • 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

HFM Minimum Deposit

HFM charges a minimum deposit amount of $0.

Considering the current exchange rate between the US Dollar and the Botswana Pula, this amounts to 0 BWP. Botswanans must note that HFM only accepts deposits in USD or ZAR, and HFM is not governed by any of the following local market regulators in Botswana:

Ministry of Finance and Economic Development (MFED)

Bank of Botswana (BoB)

Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

Depending on the kind of account, different Botswanan traders will need different deposits to establish HFM accounts. The following are the minimum deposit requirements:

Cent Account – 0 USD or 0 BWP

Premium Account – 0 USD or 0 BWP

Zero Spread Account – 0 USD or 0 BWP

HFCopy Account – $100 for Strategy Providers (1925 BWP) and $25 for Followers (481 BWP)

The money of HFM and HF Markets is kept separate from the broker account in segregated accounts at the leading institutions in the world.

A maximum of €5,00,000 in civil liability insurance is available to the broker. This program protects traders against the risk of financial loss brought on by mistakes, carelessness, omissions, and fraud.

HFM has made negative balance protection, a risk management technique, available to all retail trading accounts. Despite market volatility, HFM’s negative balance protection is in effect, ensuring that clients are not obligated to reimburse the broker if their accounts go into a negative.

What is the minimum deposit required to open an account with HotForex?

The deposit required to open an account with HotForex can vary depending on the account type you choose. HotForex offers a range of account options to cater to different trading preferences.

Can I start trading with HotForex even if I don’t meet the minimum deposit requirement?

If you don’t meet the deposit requirement for your chosen HotForex account type, you may need to consider alternative options or account types that better align with your available capital.

HFM Deposit fees and deposit methods

HFM does not subject Botswana traders to deposit fees and deposit methods that traders can use when they pay the 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, Botswana traders cannot make deposits in local currency and may incur conversion costs when making deposits in foreign currencies.

Does HotForex charge any deposit fees?

HotForex typically does not charge fees for deposits made by its clients. The broker aims to provide a cost-effective trading environment, and most deposit methods are free of charge from their side. However, it’s essential to remember that some third-party payment processors or banks may impose fees on certain deposit methods, such as bank wire transfers or credit/debit card transactions.

What deposit methods are available for HotForex accounts?

HotForex offers a wide range of deposit methods to cater to the diverse needs of its clients. These methods include bank wire transfers, credit/debit card payments (Visa and MasterCard), and various e-wallet services like Skrill, Neteller, and WebMoney.

HFM Step-by-step guide to depositing the minimum amount

Step 1: Go to either the HFM App or Website.

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

Step 2: Click on “login” – myHF”.

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

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.

Aside from great deposit method options, there is a specified 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 $0.

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.

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.

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.

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.

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 0

Regulators

CySEC, FCA, DFSA, FSCA, FSA, CMA

Trading Desk

MT4, MT5, HFM APP

Crypto

Yes

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Account Activation Time

24 Hours

on HFM’s website

HFM Botswana Pros and Cons

✔️ Pros	❌ Cons
HFM is a trusted broker that ensures client fund safety	There are only a few payment methods offered
Electronic payment gateways ensure quick deposits	HFM only accepts two deposit currencies
HFM does not keep client funds in its broker account	Conversion fees will apply to BWP deposits
The deposit is low and affordable, even for beginners
There are flexible deposit methods offered

Verdict on HFM

Overall, HFM is very competitive in terms of its trading Fees and Spreads.

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

What is the minimum deposit for HFM?

The minimum deposit on the Cent Account is 0 USD / 0 BWP.

Can I register a BWP account with HFM?

HFM does not accept BWP as a base account currency, only USD, ZAR, and NGN.

Can I get a deposit bonus with HFM?

HFM offers a 50% deposit bonus when Botswanans deposit at least 50 USD / 640 BWP into their Micro Account.

Can I withdraw my HFM deposit bonus?

You cannot withdraw your trading credit when you get a deposit bonus. However, you may withdraw your profits using this trading credit.

How long does it take to process my HFM deposit?

It can take between 10 minutes on bank cards and electronic payments, while bank wire takes up to 7 working days.

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.

9.5/10 - (2 votes)

HFM Minimum Deposit

HFM at a Glance

HFM Minimum Deposit

What is the minimum deposit required to open an account with HotForex?

Can I start trading with HotForex even if I don’t meet the minimum deposit requirement?