How to Withdraw Money from HFM (2024)

Read our HFM withdrawal review and learn about HFM’s withdrawal methods and processing times. This review includes a step-by-step guide explaining how to request your HFM minimum withdrawal. In addition, you can also visit our in-depth HFM broker review.

HFM Withdrawal Methods – How to Withdraw your Money?

The secure and user-friendly HFM back office, myHF, handles all deposits and withdrawals. It ensures that withdrawing profits is as simple as making deposits. HFM financial transactions function similarly to online banking.

How to withdraw from HFM?

HFM only processes withdrawal requests from verified trading accounts in line with AML/KYC regulations. The name on the payment processor must also match the name on the HFM trading account.

Below are the HFM withdrawal steps:

1. Log into myHF.

2. Navigate to the “Withdraw” tab in the left-hand menu. Traders who have multiple trading accounts should select from where they wish to request their HFM minimum withdrawal.

3. Select your preferred payment processor and enter your desired withdrawal amount (ensure you have sufficient free margin to cover the withdrawal).

4. The finance department processes all withdrawal requests received before 10 a.m. (server time) on the same day. Otherwise, HFM will process it during the following business day. Traders may wait up to ten business days for funds to arrive, depending on the payment processor and their geographic location. Clients will get an e-mail confirmation from HFM and a notification from their payment processor once the funds arrive.

Withdrawal Methods - Which Payment Methods are Available for the Withdrawal?

HFM lists eight payment processors, but geographic restrictions may apply.

HFM supports the following withdrawal options:

• Bank wires
• Credit/debit cards
• Skrill
• Neteller
• WebMoney
• FasaPay
• PayRedeem
• Cryptocurrencies (Crypto / BitPay)

HFM Withdrawal Fees

HFM does not levy internal fees, except on BitPay transactions, which face a 1% fee. Traders should check their preferred payment processor for a detailed breakdown of potential third-party costs.

Below are the HFM withdrawal fees (excluding third-party costs and currency conversion fees):

• Bank wires - $0
• Credit/debit cards - $0
• Skrill - $0
• Neteller - $0
• WebMoney - $0
• FasaPay - $0
• PayRedeem - $0
• Cryptocurrencies (Crypto / BitPay) - $0 / 1%

HFM supports the following withdrawal currencies:

• USD
• EUR
• NGN
• JPY

Noteworthy:

• A multi-currency account can help you lower currency conversion fees.

Withdrawal Time - How Long Does It Take for the Withdrawal?

HFM processes withdrawals the same day if it receives the request before 10 a.m. server time. Otherwise, it does so on the following business day.

The average post-processing withdrawal time for the HFM withdrawal methods:

• Bank wires - Two to five business days
• Credit/debit cards - Two to five business days
• Skrill - Instant
• Neteller - Instant
• WebMoney - Up to ten minutes
• FasaPay - Instant
• PayRedeem - Up to ten minutes
• Cryptocurrencies (Crypto / BitPay) - Up to 24 hours / Two business days

Withdrawal Issues and Delays in Payment

Only verified accounts can request withdrawals, but HFM may conduct additional security checks and verifications.

Some of the most common HFM withdrawal issues and delays in payment are:

• Up to 10 business days for funds to arrive (delay)
• Withdrawal payment processor differs from the deposit payment processor (delay)
• Outdated or incomplete account verification (issue)
• Insufficient free margin (issue)
• Mismatch of the payment processor and the IC Markets trading account name (issue)
• Minimum and maximum withdrawal limits for some payment processors (issue)
• Unauthorized account activity (issue)

Bottom Line

Traders will request the HFM minimum withdrawal via myHF, the secure and user-friendly HFM back office. HFM does not charge internal withdrawal fees, except on BitPay transactions, which face a 1% charge. The HFM minimum withdrawal ranges between $5 and $100, payment processor dependent, with same-day processing if HFM receives the withdrawal request before 10 a.m. (server time). HFM honors each valid withdrawal request from verified trading accounts.