HFM Kenya Minimum Deposit

What is The Meaning of Minimum Deposit?

A minimum deposit is the smallest amount of money that you can deposit into your HFM wallet.

if you attempt to deposit an amount below the specified minimum deposit, the send button will be deactivated meaning you wont be able to complete the transaction.

How Much is HFM Minimum Deposit in KES?

The HFM minimum deposit is 700 KES for the Premium & Zero Spread Accounts. The spread on these accounts are actually high & so they are not suitable for trading large volumes of currency pairs.

If you want to trade large volumes/quantities you should take a look at the PRO Account which has a 13,000 KES minimum deposit or the PRO PLUS account with a 40,400 KES minimum deposit.

The PRO & PRO PLUS accounts may have a higher minimum deposit, but their spread is much lower. These accounts are ideal if you are trading large volumes because then the amount you save on spread becomes significant when you multiply it by the number of units you are trading.

What is HFM Wallet?

Your HFM Wallet is an online savings account where all your deposits are held. When you want to trade, you must perform an internal transfer from your HFM Wallet to your Trading Account.

Any money held in your HFM Wallet is not allocated for trading and so cannot be affected my margin calls or any trading related activity. Funds in your HF Wallet are known as free margin & you can earn interest on them.

Does HFM Accept MPESA in Kenya?

Yes, HFM Kenya accepts MPESA deposits and allows MPESA withdrawals too.

To start the deposit process, login to your HFM Personal Area & select "deposit".

Select iPay, or Mobile Money; then at the next prompt select MPESA.

Input the amount you want to deposit as well as your Safaricom phone number.

Wait for a One-Time Password/PIN to be sent to your Safaricom number then input the PIN to complete your deposit.

How Do I Transfer From My Bank To HFM?

Start by going to your Personal Area which is basically your dashboard where you manage your account from. Access Personal Area by signing into HFM website or logging onto the HFM mobile app

From your Personal Area dashboard, click on "deposit"

Input your desired amount, select "Direct Online Bank Transfer" then copy out the account number that pops up.

keep your HFM Personal Area open as you will return to it to confirm you have sent the money.

Go to your mobile bank app & transfer the exact amount into the account number you copied.

Return to your HFM Personal Area & click on the " I Have Made The Deposit" button & this is the last step

Is There Any Deposit Fee at HFM?

No, HFM does not charge any deposit fees. But watch out for currency conversion fees which HFM charges to convert your Naira deposits into USD.

You can avoid currency conversion fees by opening your HFM Wallet in Naira currency.

But sometimes HFM will say the Naira Wallet is unavailable so you may have no option than opening a USD wallet.

Do I Get A Bonus On My Deposit?

Yes, all HFM clients in Nigeria get a 20% bonus on their deposits.

However, the bonus is not withdrawable (only profits are) & you must open a Top-Up Account where the bonus will be paid into.