When using an overseas FX broker such as hfm (hotforex), is there a possibility of withdrawal refusal? This article will explain. If you actually trade with HF Markets and make a profit, you will probably want to withdraw your money. However, has HF Markets ever refused to withdraw money in the past? This is a question that traders are very curious about. We have also summarized solutions for when you cannot withdraw money.
Does HFM have a withdrawal refusal?
So far, there have been no withdrawal refusals. It is safe because there are no malicious withdrawal refusals by HF Markets. HF Markets, established in 2010, is a fairly well-known FX company worldwide and is known as a good company. Also, there are people who sometimes make a fuss on Twitter, but in many cases they do not follow the withdrawal rules. HF Markets itself is licensed in South Africa and Dubai, and has a solid insurance system, so it is trustworthy even for beginners. Among the various FX companies, it is a recommended broker in the financial field, and you can earn bonuses by trading with the target account, so there is a possibility of making a profit.
Many deposit and withdrawal methods
There are many deposit and withdrawal methods. We also accept credit cards, debit cards, bank transfers, and virtual currency (Bitcoin). You can also use bitpay and online wallets, which is quite convenient. The minimum deposit is only $5, so the price is very low and you can trade.
High maximum leverage
HFM has a maximum leverage of 2000x. Among overseas FX companies, their prices are quite high compared to other FX companies such as XM, gemforex, traderstrust, titanfx, fxgt, iforex, axiory, and exness. You can hold positions and make many settings. There is also a forced stop-out. Furthermore, when it comes to 100% loss, zero cut is adopted, which is a huge advantage. There are account types with narrow pips width. A calculation tool is available on the official website.
Prohibited matter
As will be explained later, if you violate any of the prohibited items, your withdrawal will be refused. Trades aimed at economic indicators and abuse of both sides are examples of this. Please be careful to check the terms of use and methods. Penalties and troubles are inevitable if you do not comply with lot restrictions and terms. Scalping and automated trading (EA) tools are permitted. Basically, avoid troubles to protect your assets.
Platform is MT
Trading platforms include MT4 and MT5. There is also a web trader with its own platform. At least be able to use MT5. MetaQuotes is putting the most effort into developing it. It can be downloaded for free from the official website, and you can also trade virtual currencies. There are also plenty of bonuses, campaigns, and points. There is also a cushion system, so you can rest assured.
Reasons and solutions when you cannot withdraw
If you are unable to withdraw, the causes and solutions are summarized below, so please refer to them if you have any problems. Also, check the article below for how to withdraw.
Also, if you cannot solve the problem, please contact the support center. By contacting the support center, the staff will respond politely.
Malicious act
In the past, HF Markets has taken measures such as freezing accounts for users who illegally obtain bonuses, intentionally overload the server, or repeat malicious acts. We have stopped providing bonuses to specific traders in the past. In this case, the withdrawal may be refused.
Withdrawal rules
HF Markets has a rule that withdraws up to the deposit amount using the same method and withdrawing profits using other methods. Therefore, you must withdraw using the same method you used to deposit. If you break this, the withdrawal will be refused, so be careful.
No destination bank
For bank transfers, you cannot withdraw to a bank that is not on the bank name list. HF Markets is structured so that withdrawals can only be made to designated banks. Therefore, if you don’t have a bank to withdraw from, you have no choice but to withdraw money using other withdrawal methods.
Nominee discrepancies
When withdrawing money, it is necessary to match the name of the registered information. Of course, since you have submitted your ID, there are often no discrepancies, but if you try to transfer money to someone else’s bank account, it will definitely be refused.
Wrong payment destination information
If you make a mistake in the withdrawal destination, of course, the withdrawal process will not be possible. It may take longer than usual to withdraw money. If you make a mistake, support may ask for proof of margin and documents that are your own wallet. Customers should enter basic information such as detailed information in advance. Otherwise, we cannot guarantee it. Check from the menu.
Effects of weekends and holidays
In the case of bank transfers, it depends on the bank’s business days. This is especially true on weekends and holidays, so be careful. Furthermore, the year-end and New Year holidays and Christmas can also have an impact, so if you want to withdraw money quickly, please choose another withdrawal method. Unless it is for an important purpose, it is better not to move currency pairs such as the USD/JPY on Saturdays and Sundays when the market is closed, as a countermeasure for capital management, if you have a position on the chart. This is because there is a possibility that it will fly away during the opening on Monday. The conclusion is to keep the full amount and sufficient funds.
bonus withdrawal
This is a bonus, but if you apply through the form and withdraw the money, part of the bonus will disappear at the end. The bonus is awarded as a percentage of the deposited balance and cannot be withdrawn. Please note that the bonus can only be used in trading. Even if the customer makes a profit from investment, it will not be reflected when they try to withdraw the bonus from the home page. When comparing operating companies, other companies are similar in general format, and the bonus is only used for trading.
Christmas, New Year holidays
Although it is an exceptional time, HFM’s business days and business hours are quite irregular during Christmas and the New Year holidays. Therefore, it cannot be said that it will be available every day. Every year at this time, the business schedule is announced on the official HFM website, so please check it. Withdrawals are not accepted on holidays. When you start trading, there is little risk of the spread widening due to economic indicators such as those mentioned above, so you can trade without having to worry about other things. Furthermore, the system operated by the company makes it easy to manage the amount, so there are no problems.
For Japanese users
For Japanese users, there are big events such as Obon and Golden Week. During these times, Japanese staff may be on vacation, and support center responses may be awkward in Japanese. If this bothers you, you may need to make inquiries at a slightly different time, so be careful. Currently, if you apply without violating the terms and conditions, you can withdraw money without fail, and the withdrawal will be processed later. Even beginners can deposit large amounts because the money arrives quickly.
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