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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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• The bonus amount itself cannot be withdrawn from the account 
• Profits generated by trading the bonus can be withdrawn without any limitations 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 A key takeaway from the terms and conditions is the fact that the bonus cannot be withdrawn, while profits generated using the bonus can be withdrawn without limitations.