HF Markets Minimum Deposit

HF Market’s minimum deposit in Shillings starts from TZS 12,000 when depositing via DusuPay Payments in Tanzania.

When embarking on your forex trading journey, one of the first questions that naturally arises is, “How much money do I need to start?”

HF Markets (HFM) formerly called Hotforex, a forex and CFDs broker, offers a range of solutions to suit different budgets and trading styles.

We researched the broker, and now provide a summary of the minimum deposit requirements of HF Markets, payment methods, step-by-step guide to deposit and more, in this review.

What is the minimum deposit for HFM Tanzania

The minimum deposit on HFM is TZS via DusuPay is TZS 12,000, other payment methods have different minimum deposit.

However, HF Markets have different account types that require different minimum deposit amounts to activate the account and start trading. Here is a summary:

1) Premium Account: Tailored for retail clients, the HF Markets Premium Account doesn’t enforce a mandatory minimum deposit. You can deposit any amount you prefer.

2) Pro Account: Designed for experienced retail traders, the HF Markets Pro Account requires a minimum deposit of TZS 272,000 ($100).

3) Pro Plus Account: Geared towards experienced retail traders, the HF Markets Pro Plus Account mandates a minimum deposit of TZS 680,000 ($250).

4) Zero Account: Ideal for retail clients engaging in high-volume trading, utilizing EAs, and seeking lower spreads, the HF Markets Zero Account doesn’t demand a mandatory minimum deposit.

5) Cent Account: Specifically crafted for new traders, the HF Markets Cent Account allows trading in forex and gold exclusively. There’s no mandatory minimum deposit, and the account balance is denoted in Cents (United States Cents), where $10 is represented as 1,000 cents.

6) Top-up Bonus Account: Designed for retail clients, the HF Markets Top-up Bonus Account doesn’t impose a mandatory minimum deposit.

Read more on HFM’s account in our HF Markets review.

Accepted Deposit Methods on HFM Tanzania

HF Markets offers a number of options for depositing funds. Here’s what you can use:

1) Credit/Debit Cards: The classic choice, Visa and MasterCard are widely accepted on HF Markets. The minimum deposit via this method is $5 (TZS 13,600) Deposits via cards on HFM are credited within 10 minutes.

Minimum withdrawal via cards on HFM is TZS 13,600 ($5). It takes about 2-10 business days for you to receive the funds after initiating a withdrawal.

2) DusuPay: You can make deposits to your HFM Account through DusuPay in Tanzania using Shillings (TZS). DusuPay deposits are credited instantly.

The minimum deposit via DusuPay on HFM in Tanzania is TZS 12,000.

The minimum withdrawal to DusuPay wallets is TZS 27,200 ($10) and its instant as well.

3) E-wallets: Popular options like Skrill and Neteller are supported for deposits on HF Markets. E-wallet deposits are credited within 10 minutes to your trading account. The minimum deposit amount for e-wallets on HF Markets is $5 (TZS 13,600).

Minimum withdrawal with e-wallets on HFM is also TZS 13,600 ($5) and it takes only 10 minutes for you to receive the funds or it happens instantly.

HF Markets Deposit Methods Table

Here is a summary of payment methods accepted by HF Markets for deposits.

HF Markets Deposit Rules

1. Deposit Fees: HF Markets does not charge any deposit or withdrawal fees. Nonetheless, the third-party payment processing platform you use, such as your bank or card, may impose independent transaction fees.

2. Deposit Time: You can initiate deposits and withdrawals from your trading account at any time, on any day. However, in cases where instant processing is not feasible, you may experience a wait time of up to 24 hours for deposits and up to a few days for withdrawals.

3. Payment Source: HF Markets only accepts deposits from payment methods (bank account and cards) that are in the same name as the name used on your HFM trading account.

Withdrawals are also only made to same sources you have used to make deposits and must bear your name as well. HFM does not process payments from or to a third party account.

How do I deposit my HFM account?

Step 1) Log in to your dashboard by visiting the HF Markets website or via my.hfm.com/sv/login.

Step 2) On your dashboard, you will see ‘Deposit’ on the left column menu (desktop view), click on it, select ‘Alternative’ then select ‘DusuPay’.

Step 3) Enter the amount you want to deposit, provide the phone number for payment and click ‘Deposit’ then follow the prompts to complete the deposit.

Step 4) On the left side of your dashboard, locate ‘Transfer Funds’ on the left side menu, and click on it to transfer funds from myWallet to a live trading account or from a trading account to your myWallet. After entering the amount you want to transfer, click on start transfer and follow the instructions to complete the transfer.

Note: Please keep in mind that HF Markets only approves deposits from accounts or payment methods that bear the same name as your HF Markets trading account.

Comparison Of HF Markets Minimum Deposit With Other Brokers

Here is a comparison of HF Markets minimum deposit with that of their competitors.

HFM Tanzania Minimum Deposit FAQs