HFM Minimum Deposit
Converted from USD to Naira
| HFM (HF Markets) Minimum Deposit | USD 5 |
|---|---|
| Deposit Methods | Local Bank Transfer |
| Account Types | Cent Account,Premium Account,Pro Account,Pro Plus Account,Zero Account,Top-Up Bonus |
| Deposit Fees | No fees |
| Account Base Currencies | DZD, USD, EUR, GBP |
| Withdrawal Fees | No fees |
| 💰 Minimum Deposit | $5 or N7,500 |
| 🏧 Minimum Withdrawal (all accounts) | $5 |
| 💱Base currency | Naira, USD |
| 💨Fastest Deposit Method | Online Bank Transfer (instant) |
| 🏦Deposit Fees | $0 |
| 🎁Deposit Bonus | Yes |
| 🐷Online Wallet System | Yes, deposits go into your HFM Wallet |
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 Naira?
The HFM minimum deposit in Naira is N7,500 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 N50,000 minimum deposit or the PRO PLUS account with a N200,000 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.
Do HFM Wallets Come in Naira Base Currency?
Yes, HFM offers Naira base currency, so you can choose for your wallet currency to be in Naira. This means that all your transactions will be displayed in Naira. This also saves you from paying currency conversion fees to change your Naira deposits into USD.
Which is The Quickest Deposit Method?
Online Bank Transfer is the quickest way to deposit money into your HFM wallet. All deposits via online bank will reflect instantly in your HF Wallet
How Do I Make A Deposit?
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 "withdraw"
Select Direct Online Banking & input the amount you want to deposit.
Confirm for correctness & submit.
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.