I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].
HotForex

HotForex Deposit Methods | Fees and Conditions



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.

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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.

MethodDescriptionFeesProcessing Time
Wire TransferInternational BankNo Fees *1
Credit CardsVISA, Master,
UnionPay
No FeesInstantly
CryptoBTC, BCH, XRP,
ETH, LTC
No Fees1 – 10 min
fasapayNo FeesInstantly
NETELLERNo FeesInstantly
SkrillNo FeesInstantly
VLOADNo Fees1 – 10 min
Web MoneyNo FeesInstantly
Local Bank TransferDomestic BankNo FeesInstantly

*1 No fees for over $ 100

hotforex deposit methods 1
hotforex deposit methods 2
hotforex deposit methods 3

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This is because in the case of credit card withdrawal, it will be refunded (withdrawn) by canceling the deposit.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”

hotforex myHF

The deposit methods that can be selected are displayed.

hotforex select deposit method

Deposit by Credit Card

Click “VISA”

hotforex credit card deposit

Enter the Deposit Amount

Specify the deposit amount and currency.

hotforex credit card deposit enter amount

Enter Credit Card Information

Enter the credit card information used to make the deposit.

After entering, click “Pay” to process the deposit.

hotforex credit card deposit input card information

Deposit by NETELLER

Select “NETELLER”

hotforex neteller deposit

Enter your Neteller email address and deposit amount

Enter the email address registered in Neteller and the deposit amount. After entering, click Deposit.

hotforex input neteller account id and amount

Move to Neteller Page

You will automatically be taken to the Neteller website. Please follow the instructions on the screen to send money.

hotforex login to neteller

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.

hotforex crypto deposit

Select Cryptocurrency

From here, I will explain by crypto payments.
Specify the deposit amount and the cryptocurrency used for remittance.

hotforex crypto payments

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.

hotforex crypto address

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.

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ABOUT ME
KandA
KandA
I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].