HFM (formerly HotForex): Causes and solutions when unable to deposit with FX FAQ Thorough explanation

HFM

HF Markets supports a variety of deposit methods. It is a very user-friendly company because it supports not only bank transfer, credit card, bitwallet, but also virtual currency deposit. However, there are times when deposits cannot be made, so this is summarized as troubleshooting.

Why can’t I make a deposit and how to fix it

There are some reasons why you can’t make a deposit. The following are the main possible reasons, so please refer to them. Please refer to the article below for details on how to make a deposit. If you click to pay and make a deposit, it will usually be reflected within a few days at the latest. There are various methods such as bitpay and visa card, but the time it takes to reflect the information varies depending on the method. The maximum leverage is 2000x, and trading services are more extensive than XM, FXGT, Axiory, Threetrader, FBS, titanfx, iforex, etc.

If you cannot find a solution within this article, we recommend contacting our support center. Our support staff will be happy to provide you with a solution. The minimum deposit amount is $5, so you can trade with small amounts. It is convenient because you can make deposits online using Bitcoin.

You have not specified the reference number as the holder

In the case of bank transfer, the reference number must be entered in the name of the transferee. If you do not do this, HF Markets will not be able to confirm which account you are depositing from. Therefore, if you forgot to enter the reference number and made a payment, please contact the support center.

You haven’t reached the minimum deposit amount

Depending on the deposit method, there is a minimum deposit amount. If this amount is not reached, the deposit will not be accepted in the first place and will be returned. There is always a minimum deposit amount for each deposit method, so please do not deposit too little.

In order to complete the deposit, it is necessary to transfer funds from the wallet to the account

In fact, as a mechanism of HF Markets, the deposited amount is first accumulated in the wallet in the account. From there you have to transfer funds to your trading account to start trading. Log in first. Select “Transfer Funds” on the top right of the page.

source : https://my.hfm.com/

Since the screen below will appear, you can transfer funds to the account by specifying which account to transfer from the wallet and specifying how much money to transfer.

Of course, the trading account must be created before transferring funds.

Deposit now reflected

If the payment is not received, it may take some time to reflect. If it is a bitwallet or credit card, it will be reflected immediately or immediately, but in the case of virtual currency deposit, the exchange from which the transfer is made may be closed. Similarly, in the case of bank transfer, we can only handle bank business days.

Insufficient card balance

With credit cards, etc., processing will not proceed if the card balance is insufficient. Therefore, please contact your credit card company first to confirm. Also, in the case of BXONE, it is not possible to deposit more than the balance. If you use a credit or debit card, you may have reached your credit limit.

Rejection by card issuer

In recent years, there has been a rapid increase in the number of cases of fraud in the trading of financial products around the world. Because of that background, it is very vigilant, and there is a possibility that credit cards etc. have blocked it in the first place. First, contact your credit card company and ask them to unblock it.

Discrepancies in registered name

Please note that if the registered name does not match the name of the transferee, the transfer will be rejected. If the details do not match, please contact the support center after the deposit procedure. You must change the registered information first. This applies not only when you specify a transfer to a financial institution’s bank account, but also when you use a credit card (VISA, MasterCard, JCB). Basically, the operating company will provide a lot of information depending on the purpose, so customers should check the countermeasures carefully so that they do not forget.

Card expiration date

Expired cards cannot be used. Please check the expiration date of your credit card. If the card has expired, you will not be able to send the money in the first place. The money will not arrive in time and you will not have enough margin. The advantage of using cards is that they are available 24 hours a day. HFM also offers cashback. If you are in a hurry, we recommend using an online wallet. If you are not sure, we recommend direct online banking or depositing cryptocurrencies (Litecoin (LTC), ETH, Bitcoin, etc.) using a QR code. You can easily do this with the buttons at the top.

Wrong remittance address

When depositing virtual currency, you must be careful not to make mistakes in the remittance address. If you send money to the wrong address, the deposit will fail in the first place. And you may lose the deposit amount, so be careful not to make mistakes when copying and pasting. Be careful when handling payment services such as Ethereum, Ripple, and Bitcoin. Troubles are likely to occur. There will also be transfer fees. Log in to myhf from the home page using your password and check the status of your crypto.

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