HFM (formerly HotForex): What are dormant accounts and archives? Latest explanation of account maintenance fees and how to open an account。HFM may freeze your account if you violate the prohibited items. In addition, there is a possibility of account dormancy, and if you do not trade at all, maintenance costs will be incurred as well. Please refer to the detailed rules.
HFM Basic Information
| Company Name | HF Markets（SV） Ltd. |
| Year of establishment | 2010 |
| Service Overview | A large brokerage providing services in over 180 countries worldwide with millions of registered accounts |
| Financial products handled | Foreign Exchange (FX), Stock Indices/Commodities, Stock CFDs/Cryptocurrencies |
| Trading Platform | MetaTrader 4（MT4）、MetaTrader 5（MT5） |
| Maximum Leverage | 2,000x |
| User Support | Multilingual support |
| Financial License | ✔ FCA (UK, Financial Conduct Authority) ✔ FSCA (South Africa) ✔ DFSA (Dubai) ✔ FSA (Seychelles) |
| Deposit and Withdrawal Methods | Bank transfer Credit/Debit card (VISA/Master/JCB, etc.) bitwallet / BXONE / Binance Pay / Cryptocurrency |
| Account Type | Cent Account Premium Account Pro Account Zero Account Top-up Bonus Account |
What is a dormant account at HFM? Explaining the basics
This article provides a basic explanation of “dormant accounts” at HFM (formerly known as HotForex). We’ll also explain the details and differences. Unlike a bank account, a dormant account will remain dormant even in a demo account if funds are not transferred. Therefore, beginner investors should at least refer to the official FAQ.
What is a dormant account?
A dormant account is one that has not undergone any trading or deposit/withdrawal activity for a certain period of time.
At HFM, an account is considered “dormant” if it has been left unused for an extended period of time.
Conditions for Dormant Accounts
Typically, an account is considered dormant if more than 12 months have passed since the last login or transaction.
This also applies if funds remain in the account.
What happens when an account becomes dormant?
Dormant accounts have the following effects:
Inactivity Fees
HFM may impose a monthly fee of $5 (or equivalent) on inactive accounts.
If your account balance is low, this fee will be deducted from your account balance.
You may be unable to trade.
Some services may be restricted while your account is inactive.
However, your account will not be closed, and you can resume trading by logging in again.
How to Avoid Inactive Accounts
To avoid your account becoming inactive, follow these steps:
Log in and trade regularly
Make deposits and withdrawals, even if small
Pay attention to emails and notifications from HFM to check your account status.
How to Reactivate an Inactive Account
Even if your account becomes inactive, it can be reactivated.
Log in to your account
Deposit or trade as needed.
Note: If an inactivity fee has been incurred, your account will be reactivated with the remaining balance after the fee has been deducted.
Summary
A dormant account is one that has not been used for a long period of time.
Dormancy fees may apply.
This can be avoided by logging in and trading regularly.
It is easy to reopen your account, and it will not be closed.
What happens when an account becomes dormant at HFM?
When an account becomes dormant at HFM, there are a few things to keep in mind. We’ll explain them briefly. This applies to all accounts (Top-Up, Premium, Pro, and Cent), and you will no longer be able to receive campaigns or bonuses. Even if campaigns are available, you may not even be able to hold them depending on the timing. First, visit the official website and check the latest information on the five account types and terms of use from the home page.
Conditions for Dormant Accounts
An account is considered dormant if more than 12 months have passed since its last login or last transaction.
This applies regardless of whether or not there is a balance in the account.
What Happens When an Account Becomes Dormant
(1) Incurrence of Dormancy Fee
HFM may charge a monthly fee of $5 (or equivalent) for dormant accounts.
This fee is automatically deducted from your account balance, and when the balance is depleted, your account will be reset to zero.
The fee may continue to be charged until the account becomes active.
(2) Trading Restrictions
Some trading and withdrawal restrictions may be imposed while the account is dormant.
However, your account will not be closed, and you will be able to trade again if you log in again.
(3) Account Notifications
You may receive an email or notification from HFM stating that your account has been placed in a dormant state.
If you ignore this notification, fees may continue to accrue.
How to Avoid and Reactivate a Dormant Account
To avoid this: Log in, trade, and deposit and withdraw funds regularly.
To reactivate: Log in to your dormant account and make deposits and trades as needed.
If a dormant fee has been incurred, it can be reactivated after it has been deducted from your balance.
How to Reactivate a Dormant HFM Account
You can easily reactivate (activate) a dormant HFM account. Here’s a simple summary of the process.
Requirements for Reactivating a Dormant Account
A dormant account is one that has not been used for more than 12 months since its last login or transaction.
It can be reactivated if there is a balance in the account. You can log in even if your balance is zero, but you will need to deposit funds to trade again.
Steps to Reactivate a Dormant Account
Step 1: Log in
Log in to the HFM official website or trading platform (MT4/MT5).
You may be notified of your dormant account status upon logging in.
Step 2: Deposit or Trade
If a dormancy fee has been incurred, it may be deducted from your account balance first.
To activate your account, make a small deposit or trade.
Step 3: Confirm
The account is reactivated when it displays “Active” on the trading platform.
If necessary, you can contact support to check your account status.
Important Notes
Dormancy fees may be incurred before reviving your account.
If your account is left idle for an extended period of time, your account balance may be reduced to zero due to the fees.
If your account is left idle for another extended period of time after reviving it, it will be treated as dormant again.
What are HFM Archived Accounts?
Here’s a basic explanation of HFM (HotForex) “archived accounts.”
What is an Archived Account?
An archived account is an account that has been terminated for trading reasons, either by the user or HFM, and is stored in an inactive state.
Unlike dormant accounts, archived accounts are often intentionally archived rather than left unused for a long period of time.
Archived accounts are not available for trading, but account information and history are stored by HFM.
Main Reasons for Archived Accounts
When a user requests account closure
An account may be archived for data storage purposes before being completely closed.
When HFM liquidates an account for internal management purposes
For example, an account that has been dormant for a long period of time or an inactive account that has not violated the terms of service.
Actions due to regulations or internal rules
For example, liquidation of an account that has not completed identity verification or does not meet certain conditions.
Characteristics of Archived Accounts
Untradable: Deposits, withdrawals, and trading are not permitted in archived accounts.
Data retention: HFM retains past transaction history and account information. Inquiries can be made as needed.
Reactivation: Depends on the situation. Reactivation may not be possible depending on the account.
Steps for Restoring an Archived Account
Restoring an “archived account” with HFM may require a slightly more complex process than reviving a dormant account. Here are the basic steps:
Requirements for Restoring an Archived Account
An archived account is an account that has been intentionally deactivated by HFM.
Restoring an account often requires a request from HFM Support.
Depending on the reason for archiving (e.g., regulatory restrictions, incomplete identity verification, etc.), revival may not be possible.
Basic Steps for Restoration
Step 1: Contact Support
Contact Support via live chat on the HFM official website or via email.
For a smoother process, please provide the following:
Archived account number
Registered email address
Statement of request for revival
Step 2: Submit ID verification documents (if necessary)
If identity verification was not completed or the information is outdated at the time of archiving, you may be asked to submit a passport, ID, or proof of address.
Step 3: Confirm Account Restoration
Once Support confirms and approves your account, it will be activated.
Once your account is reactivated, you will be able to deposit and trade.
Important Notes
Your account balance will often remain the same as before archiving, but any dormancy fees may be deducted.
Not all archived accounts can be reactivated. Depending on the reason, you may need to create a new account.
Summary
Contact HFM Support to request reactivation.
Submit identification documents if necessary.
Once your account is activated, you will be able to trade and deposit.
What You Need to Know About HFM Account Maintenance Fees
Here’s a clear summary of the basic information you need to know about HFM (HotForex) account maintenance fees.
What is an account maintenance fee?
An account maintenance fee is a fee that HFM automatically deducts from your account balance if your account remains inactive for an extended period of time.
It is commonly referred to as a “dormant account fee” by overseas FX brokers.
Conditions for Account Maintenance Fees
This applies to accounts that have been inactive for 12 months or more (no logins or trades).
The fee is deducted if there is an account balance.
No fee is charged if the account balance is completely zero.
Fee Amount
HFM may deduct the equivalent of $5 per month from your account balance for dormant accounts.
This fee may be converted depending on the currency pair and account currency.
Impact of Fees
Balance Reduction
Small accounts may see their balances reach zero within a few months.
Your account must be reactivated.
To stop fees, you must activate your account by logging in, trading, and making deposits and withdrawals.
You may receive notifications.
You may receive email notifications from HFM regarding your dormant account and fees.
How to Avoid Fees
Log in regularly.
Trade even small amounts.
Deposit and withdraw funds.
By doing these things, your account will be considered active and fees will not be charged.
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