I will explain how to deposit into HorForex account.
If you haven’t opened a HotForex account yet, please open an account by referring to my article.
＼Just 3 minutes!!／
HotForex Deposit Methods
The following deposit methods are available on HotForex.
Available deposit methods vary depending on your country of residence.
The explanations from here on are based on the ones available in Thailand where I live, but please visit the official website to know which deposit methods are available in your country.
| Method | Description | Fees | Processing Time |
|---|---|---|---|
| Wire Transfer | International Bank | No Fees *1 | |
| Credit Cards | VISA, Master, UnionPay | No Fees | Instantly |
| Crypto | BTC, BCH, XRP, ETH, LTC | No Fees | 1 – 10 min |
| fasapay | – | No Fees | Instantly |
| NETELLER | – | No Fees | Instantly |
| Skrill | – | No Fees | Instantly |
| VLOAD | – | No Fees | 1 – 10 min |
| Web Money | – | No Fees | Instantly |
| Local Bank Transfer | Domestic Bank | No Fees | Instantly |
*1 No fees for over $ 100
One point to note is that HotForex makes deposits and withdrawals for “myWallet”.
Transfer funds from myWallet to your trading account. Withdrawals are the reverse flow.
Deposit: Deposit to myWallet → Transfer funds from myWallet to trading account
Withdrawal: Transfer funds from trading account to myWallet → Withdrawal from myWallet
It’s easy to understand once you try it.
Restrictions on withdrawal by deposit method
There are the following restrictions.
From a money laundering perspective, this is almost same for any forex broker.
- If you deposit with a credit card, you can withdraw up to the deposit amount.
- For credit cards, there may be further restrictions depending on the card company.
If you deposit with a credit card, the maximum withdrawal amount is the deposit amount.
In other words, if you make a profit, you can only withdraw the profit by bank transfer.
Although it is a restriction by the credit card company, for example, you may not be able to withdraw money after a certain period of time (several months).
This is because in the case of credit card withdrawal, it will be refunded (withdrawn) by canceling the deposit.
For the same reason, credit card withdrawals may take long time.
Hot to Deposit into HotForex Account
From here, I will explain the specific deposit method using my account.
Only the main ones will be explained.
E-Wallet service, such as Skrill, NETELLER, VLOAD and STICKPAY have almost the same flow.
As mentioned above, the available deposit methods vary depending on the country or region where you live, but here I will explain the following major deposit methods.
- Credit Card
- NETELLER
- Cryptocurrency
Log in to HotForex Member Page
First, log in from HotForex top page, show myHF area.
Click “Funding” -> “Deposit”
The deposit methods that can be selected are displayed.
Deposit by Credit Card
Click “VISA”
Enter the Deposit Amount
Specify the deposit amount and currency.
Enter Credit Card Information
Enter the credit card information used to make the deposit.
After entering, click “Pay” to process the deposit.
Deposit by NETELLER
Select “NETELLER”
Enter your Neteller email address and deposit amount
Enter the email address registered in Neteller and the deposit amount. After entering, click Deposit.
Move to Neteller Page
You will automatically be taken to the Neteller website. Please follow the instructions on the screen to send money.
Deposit by Crypto
Select “bitpay” or “Crypto Payments”
To deposit by cryptocurrency, select bitpay service or crypto payments directly from HotForex.
The cryptocurrencies handled by each are different. If you want to use Bitcoin, please select bitpay.
- bitcoin (BTC)
- Ripple (XRP)
- Ethereum (ETH)
- USD Tokens (USDC)
- Ripple (XPR)
- Ethereum (ETH)
- Litecoin (LTC)
- Tether (USDT)
Select Cryptocurrency
From here, I will explain by crypto payments.
Specify the deposit amount and the cryptocurrency used for remittance.
Confirm Destination Address, Send Crypto
The remittance address and QR code of the selected crypto will be displayed.
This is the address linked with your HotForex account.
If you send money here, it will be automatically reflected in your account.
Summary
I explained how to deposit HotForex.
A general notes with forex brokers is that deposit methods are changed sometimes.
Also, as mentioned above, the available deposit methods differ depending on the country or region where you live, so please check the official website to confirm it.
＼Just 3 minutes!!／
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