HFM Deposit Bonus Review

HFM Deposit Bonus Review

HF Markets, or HFM, is a popular online FX and CFD brokerage that offers a wide selection of asset classes for trading, as well as low spreads to their global client audience. 

HFM also offers bonuses to first-time clients that sign up with the firm. However, there are also numerous other promotions available, as well as contests with cash and tech prizes. 

The 20% first deposit bonus comes with certain terms and conditions and reviewing them can help traders better understand how to take advantage of this opportunity offered by HFM. 

The 20% HFM Top-Up Bonus - How Does It Work?

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When new traders sign up to a brokerage, certain bonuses often apply to encourage the onboarding of new clients.

The promotion has been active since May 8, 2023 and only approved and verified clients may claim the offer. 

HF Markets offers a 20% bonus of up to $5,000 to first-time clients, which is offered to every new client and can be incorporated into their strategies right away. 

For example, if a trader deposits $10,000 into their accounts as a first deposit, they will be eligible to receive $2,000 - increasing the buying power of their account upon first deposit with HFM. The profits generated using the bonus amount is withdrawable, just like the rest of the account. 

However, there are a few notable terms and conditions that need to be considered in order to avoid any complications with claiming and using the bonus amount. 

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HFM Deposit Bonus Terms & Conditions

In order to avoid any confusion with clients and clarify how the 20% deposit bonus works, HFM provides a separate terms and conditions document on its website, with some notable terms being the following:

  • The welcome bonus is only applicable to clients of the age of 18 and above
  • Only approved and partially approved clients may be eligible to claim the welcome bonus 
  • Only clients that have verified their phone number are eligible to claim the bonus 
  • Clients who claim the bonus will not be able to use it to trade DMA and ETF products on MT4/MT5
  • The bonus can be used as stop-loss and in margin trading 
  • The bonus amount itself cannot be withdrawn from the account 
  • Profits generated by trading the bonus can be withdrawn without any limitations 
  • Withdrawing funds from the trading account also removes the same proportion of the bonus. For example, if the client withdraws 10% of their funds (excluding the bonus), 10% of the bonus will be lost 
  • HFM can terminate the bonus at their discretion if the company suspects foul play or violation of terms and conditions 

These terms are in place to ensure that the bonus funds are allocated only to verified HFM clients. A key takeaway from the terms and conditions is the fact that the bonus cannot be withdrawn, while profits generated using the bonus can be withdrawn without limitations. 

FAQ on HFM Deposit Bonus

Does HFM offer a welcome bonus?

Yes. HFM offers a welcome bonus of 20%, up to $5,000 in total. This bonus can be used in trading right away, with the profits being withdrawable. The bonus can be directly added to the rest of the client’s balance as soon as it is claimed. 

Can I use the HFM bonus for margin trading?

Yes. Once you have claimed the 20% HFM welcome bonus, you can use it just as you would use the rest of your account balance, which may also involve margin trading. 

However, make sure to review the margin requirements of HFM to decide if it is the right course of action for you. 

Can I withdraw the HFM welcome bonus?

No. You can only withdraw the HFM welcome bonus after executing trades with the funds. The bonus simply increases the buying power of the client’s balance by 20% upon first deposit. 

Any withdrawal fees that may apply will also apply to the withdrawal of the welcome bonus.