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.
- HFM Basic Information
- What HFM Withdrawal Rejections Are Really Likely
- Understanding the Causes of Withdrawal Rejections
- Measures to Avoid Withdrawal Rejections
- ① Stick to “only one” deposit method (most important)
- ② Ensure the name matches exactly
- ③ Complete KYC (Know Your Customer) 100% Before Withdrawing
- ④ Always Conduct a “Small-Amount Test” First
- ⑤ Use bonuses with the assumption that they will disappear upon withdrawal.
- ⑥ Always avoid transactions that violate terms and conditions.
- ⑦ Be mindful of withdrawal timing and application method
- What to Do If Your Withdrawal is Denied
- HFM Withdrawal Process
- Reviews about HFM Withdrawal Rejections
HFM Basic Information
| Company Name | HF Markets（SV） Ltd. |
| Year of establishment | 2010 |
| Service Overview | A large brokerage providing services in over 180 countries worldwide with millions of registered accounts |
| Financial products handled | Foreign Exchange (FX), Stock Indices/Commodities, Stock CFDs/Cryptocurrencies |
| Trading Platform | MetaTrader 4（MT4）、MetaTrader 5（MT5） |
| Maximum Leverage | 2,000x |
| User Support | Multilingual support |
| Financial License | ✔ FCA (UK, Financial Conduct Authority) ✔ FSCA (South Africa) ✔ DFSA (Dubai) ✔ FSA (Seychelles) |
| Deposit and Withdrawal Methods | Bank transfer Credit/Debit card (VISA/Master/JCB, etc.) bitwallet / BXONE / Binance Pay / Cryptocurrency |
| Account Type | Cent Account Premium Account Pro Account Zero Account Top-up Bonus Account |
What HFM Withdrawal Rejections Are Really Likely
We’ll be sharing the reality of withdrawal rejections at HFM (formerly HotForex), summarizing official rules, user feedback, and actual trouble cases. Since many concerns about overseas FX brokers center around withdrawals, we’ve compiled a fact-based summary. When transferring funds, be sure to wait until the relevant amount has been processed. The process differs from other brokers, requiring thorough authentication on the official website. However, there are set limits and the process is fast, so you can rest assured.
✅ 1. How HFM’s Official Withdrawal Process Works
First, as official rules, HFM clearly states the following regarding withdrawals:
Withdrawals are generally accepted 24 hours a day, 365 days a year, and are processed immediately.
Withdrawals must be made using the same method as the deposit (e.g., deposit to bitwallet → withdraw using the same method).
Withdrawals are only permitted under the same name (for identity verification and AML* purposes).
Bonus credits themselves cannot be withdrawn, but profits earned using bonuses can be withdrawn.
*AML = Anti-Money Laundering (Anti-Illegal Funds Prevention)
This is a standard rule among overseas FX brokers, and rather than withdrawals being “rejected,” there are restrictions imposed by the rules.
🔎 2. Cases of Withdrawal Rejection (User Perspective)
✔ Trends in Actual Cases of “Withdrawal Unavailability” or “Rejection”
⭐ ① When a Rule Violation Is Determined
HFM specifies prohibited transactions (e.g., arbitrage) in its Terms of Use, and when a violation is determined,
withdrawal requests are blocked
profits are revoked
In some reported cases, this determination may be made that the user unintentionally violated the terms, resulting in a “denial.”
⭐ ② Delays or Rejections Due to Incomplete Terms or Documentation
If identity verification or documentation is incomplete at the time of withdrawal, additional screening is conducted,
additional documentation is requested,
applications are put on hold or denied due to insufficient documentation,
This is a common AML/KYC response from financial institutions.
⭐ ③ Individual Complaints and Problems
Online forums and reviews have also reported the following:
Cases where withdrawal processing seemed to have stopped after a large profit was made
Cases where withdrawals were made to a different account than the deposit source, resulting in problems
Cases where withdrawals were delayed for a long time due to slow communication with support
These are not evidence that HFM is intentionally refusing withdrawals, but rather are issues with individual rules, procedures, or support responses.
⚠️ 3. Points to Note (Causes of Withdrawal Rejections)
🔹 A. Bonus-Related Misunderstandings
Bonuses themselves cannot be withdrawn, and many refusals have been reported as a result of mistaking bonus credits for withdrawal requirements.
🔹 B. Deposit Method and Account Rules
Withdrawal requests made using a method other than the deposit method may be delayed or rejected.
🔹 C. Reports of Terms of Service Violation
HFM reserves the right to determine trading activity as a violation of the terms of service and may suspend withdrawals in accordance with the agreed-upon terms of service.
Understanding the Causes of Withdrawal Rejections
Here, we will focus on correctly understanding the causes of withdrawal refusals, and organize them in the following order: common misunderstandings → actual causes → preventative measures.
(This is a common concept not only for HFM but also for overseas FX in general, but we will focus on the HFM case.)
1️⃣ Withdrawal Refusals Do Not Equal “Fraud”
First, it is important to note that withdrawal refusals do not necessarily mean that the broker is intentionally withholding funds.
In reality, most withdrawal refusals are caused by a lack of understanding of the terms, procedures, and bonus conditions.
2️⃣ Main Causes (Classifications) of Withdrawal Refusals
🔴 Cause 1: Violation of Deposit and Withdrawal Rules (Most Common)
At HFM, the general rule is to withdraw funds using the same method as deposits.
Common Examples of No-Go:
Deposit by credit card → Request a withdrawal via bitWallet
Deposit via bitWallet → Request a withdrawal via bank transfer
Mixing multiple deposit methods and not understanding priority
👉 Result
Withdrawal rejected
Request canceled
Waiting for support for a long time
✅ Solution
Fix the initial deposit method
Before withdrawing, determine which deposit amount will be returned by which method
🔴 Cause 2: Name mismatch (very severe)
The following are likely to result in an immediate rejection.
Account name ≠ Withdrawal destination name
Bank account in family member’s name
Combining corporate and personal accounts
👉 Absolutely no approval from an anti-money laundering (AML) perspective
✅ Solution
100% match of the account name
Ensure an exact match, including the Roman alphabet
🔴 Cause 3: Incomplete or incomplete KYC (Know Your Customer) process
In many cases, strict checks are only conducted at the time of withdrawal.
Common Problems:
Expired Proof of Address
Uploaded Image is Blurry
Slightly Different Registration Information and Document Contents
👉 Result
Withdrawal is “Pending”
Request for Additional Documents
✅ Solution
Ensure Full KYC Approval Before Withdrawing
Make sure your address, name, and date of birth match word for word
🔴 Cause 4: Misunderstanding Bonus Terms (Very Common)
HFM bonuses cannot be withdrawn as is.
Common Misunderstandings:
Attempting to Withdraw the Entire Margin, Including the Bonus
Margin Requirements Fall Below the Required Margin at the Time of Withdrawal
Requesting a Withdrawal Without Knowing the Bonus Loss Conditions
👉 Result
Withdrawal Rejected
Partial Profit Cancellation
✅ Solution
Operating Under the Assumption That Bonuses Will Disappear Upon Withdrawal
Check the Margin Maintenance Ratio Before Withdrawing
🔴 Cause 5: Violation of Trading Terms (Most Common Cause of Disputes)
HFM prohibits the following types of transactions.
Examples:
Latency arbitrage
Bonus fraud
Unnatural trading by multiple accounts and multiple users
Clearly system-targeted trading
👉 Consequences
Profit confiscation
Withdrawal refusal
Account freezing (worst case scenario)
⚠️ Even if the user thinks they’re just trading normally,
if the broker determines they’re violating their terms and conditions, they’re out.
✅ Solutions
Check the terms and conditions before using EAs and high-speed trading
Avoid short-term, explosive profits related to bonuses
🔴 Cause 6: System processing delays and financial institution delays
This is a “delay,” not a refusal, but is often misunderstood.
Banking business days
Payment agency processing delays
Additional confirmations due to large withdrawals
👉 It’s easy to feel like your withdrawal was rejected, but it’s actually under review
✅ Solutions
Test a small withdrawal on a weekday
First inquiry after 3 or more business days
Measures to Avoid Withdrawal Rejections
Here, we will summarize “Measures to Avoid Withdrawal Rejections with HFM” in practical terms, with the goal of greatly increasing your chances of avoiding them.
① Stick to “only one” deposit method (most important)
Your initial deposit method will be your future withdrawal method.
❌ Examples of Bad Practices
Credit Card → bitwallet → bank transfer (mixed)
Using Multiple E-Wallets
✅ Correct
Use the same method from start to finish (e.g., bitwallet only)
📌 Especially for beginners
👉 Bitwallet or domestic bank transfer is the safest option
② Ensure the name matches exactly
HFM has very strict name checks.
❌ Common Mistakes
Accounts in Family Members’ Names
Omitting Middle Names
Differences in Romanization
✅ Solutions
HFM Registered Name = Withdrawal Destination Name = Personal Identification Document
Make sure Romanization is consistent, letter for letter.
③ Complete KYC (Know Your Customer) 100% Before Withdrawing
“Completing KYC after making profits” is a recipe for trouble.
Required Documents:
ID (within the expiry date)
Proof of Address (within 3-6 months)
Document Images Should Be Clear, Ensuring Full Corner Resolution
✅ Best Timing
👉 Complete KYC Immediately After Account Opening
④ Always Conduct a “Small-Amount Test” First
This is a strategy even professionals follow.
Recommended Procedure:
If you make a profit, withdraw ¥5,000–¥10,000.
Confirm that the funds have been deposited successfully.
If there are no problems, proceed with the actual withdrawal.
📌 Sudden large withdrawals
👉 Additional screening and delays may occur.
⑤ Use bonuses with the assumption that they will disappear upon withdrawal.
HFM bonuses are the main reason for withdrawal denials.
Points to Note:
The bonus itself cannot be withdrawn.
Withdrawals will result in the bonus being forfeited.
Profits may be canceled if conditions are not met.
✅ Operate safely.
Bonuses are just a “bonus.”
Once profits are confirmed, give up the bonus and withdraw.
⑥ Always avoid transactions that violate terms and conditions.
HFM has strict terms and conditions.
Trading to Avoid:
Ultra-high-speed scalping
Latency arbitrage
Short-term profit-making strategies aimed at bonuses
Multiple accounts/multiple users trading together
✅ Safety measures
Discretionary trading first
Use EAs only if you have confirmed the terms and conditions
⑦ Be mindful of withdrawal timing and application method
This is surprisingly effective.
Recommendations:
Request withdrawals on weekdays (Monday-Thursday)
Avoid withdrawals on public holidays, weekends, or during the New Year holidays
Avoid making additional withdrawal requests consecutively after a withdrawal
What to Do If Your Withdrawal is Denied
Here, we’ll explain what to do after your withdrawal is denied by HFM,
in a practical, non-emotional way to increase your chances of getting your funds back. You can take action and inquire about your assets right now. Try to find out as much as possible about the purpose and history of the denial.
① First, accurately identify the reason for the denial.
The following three points should be checked first.
Points to Check
Withdrawal History Status Display on My Page
Automatic Email from HFM
Support Request for Additional Documents
📌 Common Messages
Rejected
On Hold
Cancelled
👉 Rejected and Hold Mean Completely Different
Hold = Highly Likely to be Approved if Corrected
② Specific Solutions for Each Cause
🔴 A. KYC (Know Your Customer) Issue
Most Common and Easiest to Solve
Solution Procedure
Resubmit the Required Documents
Recheck the Expiry Date, Address, and Name
Submit Images in Color and High Resolution
📌 Important Points
Proof of Address Within 3 Months is the Safest
Photos (JPG/PNG) are More Efficient than PDFs
🔴 B. Deposit/Withdrawal Method/Name Mismatch
Solution Procedure
Check Deposit History
Revert to the Original Deposit Method and Reapply
If the Name Mismatch Applies, Correct the Account
📌 Tips and Tricks
Ask support first how you should reapply before proceeding.
(Do not reapply without permission.)
🔴 C. If the issue is due to bonus terms.
Troubleshooting Procedure
Adjust the withdrawal amount to the balance excluding the bonus.
Reapply after acknowledging that the bonus will be lost.
📌 Important
👉 Bonuses are almost impossible to win even if you fight.
It is more realistic to cut them off early.
🔴 D. If you are accused of violating the terms and conditions (most important).
This is where you need to be most careful.
Things you should never do
❌ Emotionally argue, “There’s no violation!”
❌ Publish it first on social media or forums
Correct action
Request a specific explanation of the violation
Confirm the date, time, and account number of the relevant trade
Rebut only based on facts when refuting
③ Proper support procedure
Recommended order
Live chat
Japanese support email
English support (if necessary)
📌 Tips
Don’t cram too much information into one inquiry
Don’t send multiple inquiries without waiting for a reply
④ What to do next if the issue remains unresolved
✔ If there is a remaining balance in your account
Suspend trading
Do not make additional withdrawals
Keep records (screenshots and history)
✔ If a partial withdrawal is approved
Switch to installment withdrawals
Establish a track record of small deposits
HFM Withdrawal Process
Below, we’ll explain the HFM (HotForex) withdrawal process in detail, following the steps of “Pre-application → Application → Review → Funds Deposit” for a practical, easy-to-understand explanation. You can also contact support directly. Even if you don’t have basic knowledge of exchanges, you can rest assured that you’ll receive the best possible response. Of course, you can also inquire about swap points, economic indicator announcements, types of financial services, and more.
Overall Flow (Conclusion)
① Pre-preparation → ② Withdrawal Request → ③ HFM Review → ④ Payment Service Provider Processing → ⑤ Funds Deposit
👉 Most withdrawal issues arise from ① insufficient preparation.
① Preparations before Withdrawal (This is the Most Important Phase)
✅ Essential Checklist
KYC (Verification of Customer Certification) fully approved
Deposit and withdrawal methods match
Account name matches exactly
Understand your available balance (bonuses excluded)
📌 If this is incomplete
👉 Withdrawal requests will be immediately put on hold or rejected.
② Withdrawal Request (My Page)
Procedure
Log in to your HFM My Page
“Funds” → “Withdrawal”
Select your withdrawal method (same method as for deposits)
Enter the withdrawal amount
Confirm your request
📌 Important Notes
Multiple requests are not permitted.
Withdrawal amount must be within your available balance.
③ HFM’s Internal Review (The Most Important Phase)
This is where the decision to reject, hold, or delay your request is made. The latest status of the operator is summarized below. Currently, after conducting an investigation, you will receive a simple response from the designated page, so there’s no need to worry. As long as the customer has not engaged in fraudulent activity or violated policies, there should be no issues.
Screening Details
KYC Recheck
Check Compliance with Deposit and Withdrawal Rules
Check Bonus Conditions
Check Transaction History for Abnormalities
AML (Money Laundering) Check
📌 At This Point
No Issues → Next
Issues → On Hold / Rejected
⏱ Estimated Time
Normal: A few hours to 1 business day
High Value/First Time: 1-3 business days
④ Payment Provider/Bank Processing
After HFM approval, the process will proceed to external processing. You can check the amount set on the screen and the status of the payment service in My Wallet. The changes will be reflected immediately or within a few days. Be careful if you have positions elsewhere. We have summarized the latest management information and expected delivery times in a list.
Withdrawal Method: Estimated Arrival Date: bitwallet: Same day to next business day; BXONE: 1-2 business days; Domestic Bank Transfer: 2-5 business days; Credit Card: Several days to 1 month (treated as a refund)
⑤ Funds Arrived (Completed)
Withdrawal History: “Completed”
Reflected in Actual Account
📌 First Withdrawal
Reviews about HFM Withdrawal Rejections
The following is a summary of frequently asked questions and reviews about HFM (formerly HotForex), including withdrawal rejections, withdrawal-related reviews, and user feedback. We’ve compiled this list because we receive many questions and inquiries about features, campaigns, spreads, and stop-loss measures. Reviews are both positive and negative, and opinions about withdrawals are mixed. Please use this information as a reference when assessing reliability.
✅ Positive Reviews (Positive Reviews Regarding Withdrawals)
✔ Withdrawals were fast and arrived without issues
Positive comments on social media include, “The funds arrived immediately after requesting a withdrawal” and “The processing was fast.”
Some users reported receiving funds within about 10 minutes via bitwallet and other services.
Some reviews also report receiving funds even on weekends, providing positive feedback on the withdrawal process.
✔ Reviews indicate that there are no issues with the official process.
Reviews also note that there are no withdrawal fees and that there are no particular withdrawal rejections.
⚠️ Negative Reviews (Withdrawal Problems)
❗ Claims of Withdrawal Denial and Cancellation of Profits
On a Forex Peace Army message board, a user posted a complaint about their account’s profits being denied and withdrawals being denied (claiming that their account was blocked due to HFM’s “prohibited trading”).
On review sites, multiple users reported that their employers refused withdrawals for vague reasons, such as “abusive strategies,” despite their profits.
❗ Complaints about Withdrawal Delays and Slow Processing
Some reviews mentioned slow processing, with comments such as “withdrawals were extremely slow” and “support was slow.”
Complaints were also heard about long withdrawal times, particularly for profits (e.g., it took seven months to withdraw $100).
🧠 Reviews that are easily misinterpreted as withdrawal denials
📌 Misunderstandings due to bonuses
In the past, there have been many posts stating, “I can’t withdraw because I didn’t meet the conditions for the no-deposit bonus,” and there have been reported cases where this was interpreted as a “denial.”
It has been analyzed that in some cases, reviews have deteriorated because users mistakenly believed withdrawals were possible without understanding the terms and conditions, when in fact the conditions were not met.
📌 Reviews confusing delays with denials
Some reviews have suggested that a slow response to a withdrawal request means a denial, but in some cases, the request was simply held up due to security screening.
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