HFM (formerly HotForex): Withdrawal methods and procedures Is there a withdrawal refusal? Thorough explanation of FX fees

HFM

If you trade in forex and make a profit, you will need to withdraw. Withdrawals take longer than deposits. However, if you use bitwallet, etc., you can go to work immediately, so it depends on the withdrawal method.

Withdrawal rules

Please note the following rules for withdrawals with HFM. When logging in and processing withdrawals from the screen, please be careful of the following points. It is preferable to withdraw money after payment.

For credit card

When withdrawing money by credit card, you can only withdraw up to the same amount as the deposited amount. For profits exceeding the deposit amount, you must prepare another withdrawal method. Also, since VISA and MasterCard are only used for deposits, you must choose another service for withdrawals. For JCB cards, profits can be withdrawn using another payment service.

Withdraw after transferring funds to My Wallet

Basically, in the case of HFM, it is difficult to withdraw the profits earned from each account as is. Withdrawal procedures will be done after transferring from the trading account to My Wallet in HFM. You can easily do this by selecting “Fund transfer” on the left menu of the home page.

Withdrawals must be under the same name as the HFM account

There is something to be careful about when withdrawing money, and that is that the name of the HFM registered account and the name of the person at the time of withdrawal must be the same. This is one of the anti-money laundering measures. Therefore, anonymous withdrawals are not possible.

You can withdraw to the same medium up to the deposit amount

The deposit must be made by the bank and the withdrawal must be made by the bank. It is impossible to say that the deposit is a bank and the withdrawal is a bitwallet. However, if the profit exceeds the deposit amount, all media will be available. With HFM, you must first withdraw the funds with the same payment service as when depositing.

Acceptable credit card

Credit cards that can be used for both deposits and withdrawals are JCB, VISA, and MasterCard. Please note that other cards cannot be used in principle. In addition, it goes without saying that you cannot use a credit card for more than the limit set by the contract with the card company. However, since debit cards cannot be used beyond the charge balance, it is OK as much as you want.

Withdrawal methods and procedures

Before you can make a withdrawal, you will first need to create an account. Please create an account by referring to the article below.

Withdrawal methods are more limited than deposit methods. Please note that bank transfers are dependent on the bank’s business days. If you are in a hurry, a withdrawal method other than a bank may be preferable. Bank transfers, virtual currencies such as bitwallet (bxone, bitpay), debit cards, credit cards, etc. are available. Different methods of withdrawal, comparison details are shown below. You can apply for a new withdrawal from the official website. Support will answer your questions.

commissionMinimum withdrawal amountMaximum withdrawal amountreflection time
Bankfree10$8000$2-3days
bitwallet1%10$10000$immediate
bitpayfree10$10000$immediate
Credit/Debitfree10$10000$2-3days

Withdrawal operation method

To withdraw money, first click “Withdraw” from My Page. You can receive money online using an online wallet (Bitcoin), bank transfer from a financial institution, credit card, or debit card.

Then, a list of withdrawal methods will appear, so click the method you like.

bank transfer

For bank transfers, you cannot withdraw to a bank that is not on the bank name list. This is because we do not handle cases other than bank lists. Also, if the registered name of HF Markets and the name of the bank do not match, the transfer will not be made. Finally, click the “Withdrawal” button to start the transfer. Withdrawals take longer than other withdrawal methods as they are only processed on bank business days.

Withdraw to bitwallet

With bitwallet, there is no fee for withdrawals from HF Markets to bitwallet, but a separate fee will be charged for withdrawals from bitwallet to banks. Therefore, please refer to the following. The account is reflected immediately, and it is very easy because you can apply for withdrawal 24 hours a day.

VISA8%
JCB/MasterCard/Diners/American Express8.5%
Bank0.5%

Enter the amount you wish to withdraw and your bitwallet registration address. Pressing the Withdraw button submits the request and completes the process. The registered nickname of bitwallet and the registered name of HF Markets must be the same. If not, the withdrawal will be canceled, so be careful.

Withdraw to Bitpay

To complete Bitpay, fill in the form below and press the “Withdrawal” button. Your HF Markets registered email address must be registered as your Bitpay email address.

credit card/debit card

For credit card withdrawals, you can only withdraw up to the deposited amount. In other words, if you have not made a deposit with a credit card, you will not be able to withdraw with a credit card. Furthermore, we only accept three types of credit cards: VISA, JCB, and MasterCard.

Notes on credit card deposits and withdrawals

Please note that when depositing and withdrawing money by credit card, you may be required to register your card information or submit a card image at the time of deposit. In this case, deposits and withdrawals will be made after taking a photo with a smartphone or other device and having it reviewed. The review may take approximately one day.

VISA/MasterCard is for deposit only

VISA and MasterCard are only used for deposits, and withdrawal methods must be specified using another payment service. Therefore, the process becomes complicated depending on the card.

To make a withdrawal, simply enter the withdrawal amount, select your date of birth, the reason for the withdrawal, and enter your account password.

Notes on withdrawal methods

Please be aware of the following points when making withdrawals.

Withdraw only from myHF wallet

Withdrawals can only be made from myHF wallet. You cannot withdraw money directly from your trading account. This is because trading accounts do not have the ability to make direct deposits and withdrawals. myHF wallet has the function of a wallet, so you have to go through this wallet.

Withdrawal fee

HFM does not charge any withdrawal fees no matter which withdrawal method you specify. However, please note that there may be fees charged by the service you use to withdraw your money.

Compatible credit/debit cards

We only accept three types of credit/debit cards: VISA, JCB, and MasterCard. Please note that other cards such as American Express and Diners are not accepted.

If the card used for deposit becomes invalid

If the card you used to deposit becomes invalid, you will generally have to use a credit card to withdraw the money. However, in this case you will need to provide official confirmation that the card has been cancelled. The support center will then conduct a review.

The bonus will disappear depending on the amount of funds transferred.

When making a withdrawal, if there is any bonus remaining, the bonus will be reduced proportionately. Please note that bonuses can be used as margin, but cannot be withdrawn. HFM has many bonuses and campaigns, but be careful as they will disappear.

Is there a withdrawal refusal?

At HFM, if you follow the withdrawal rules carefully, you will not be refused. Therefore, if you follow the rules, you can rest assured that the HFM management will not intentionally stop you.

Withdrawal cancellation

Withdrawals can be canceled at the time of withdrawal application. However, since cancellation is not possible on the user’s side, the procedure can be done by contacting the HFM support center via live chat. Once a certain number of days have passed, the withdrawal process will begin and you will not be able to cancel.

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