A promotion provides a daily Return on Free Margin for trading accounts, with returns varying based on the free margin and trading volume.
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Understanding HFM’s “Return on Free Margin” Promotion
The “Return on Free Margin” or “ROFM” promotion applies exclusively to the Free Margin in any Micro, Premium, Auto, Zero, Platinum, and HFCopy trading accounts opened by a client. The promotion is extended to include Islamic (Swap-Free) trading accounts as well. However, the promotion does not pertain to the Free Margin in any PAMM account opened by the client.
It is crucial to note that bonus funds and funds that have not been transferred to the relevant trading accounts from the clients’ wallets do not qualify as Free Margin under the terms and conditions of this promotion. Furthermore, this promotion is not applicable to archived trading accounts, as per the Account Opening Agreement.
Clients are eligible to receive a Return on their Free Margin from the moment they trade five lots or more on closed trades that have been open for more than three minutes on Contracts for Differences (“CFDs”) on forex and metals only in any given month, provided the criteria as stipulated in clause 3.6 are fulfilled.
Upon trading 5 lots or more on closed trades opened for more than three minutes on CFDs on forex and metals in any given month, the following conditions must be met daily for any client to be eligible to receive a Return on his Free Margin:
The cumulative Free Margin across all the client’s trading accounts must exceed 1,000 USD or the equivalent amount in Euro, Nigerian Naira, or Japanese Yen.
The client must have at least one open trade on CFDs on forex or metals. A closed trade on CFDs on forex or metals that was open at any point during the relevant day satisfies this criterion.
Calculation and Rate of Return
The Client will receive a daily Return on his Free Margin as per the table below:
|Free Margin (USD)||Trading Volume (Lots)||Rate of Return on Free Margin|
|1,000.01 – 25,000.00||5-50||2%|
|1,000.01 – 25,000.00||>50||2.5%|
The Free Margin is calculated daily at midnight Server Time with the formula: Free Margin = Equity – Margin (used) – Bonus. The Return on Free Margin is then calculated as: Return on Free Margin = Free Margin*(Rate of Return on Free Margin (%)/100/365).
For example, if the cumulative Trading Volume equals 25 lots, the equity in the Trading Account(s) is 50,000 USD, and used Margin is 5,000 USD (no bonuses), then the Free Margin is 45,000 USD. The Return on Free Margin would be 3.08 USD for that day.
It is important to highlight that the Return on Free Margin is only generated during weekdays and not during weekends.
The Return on Free Margin is paid to the Client’s wallet monthly, during the first week of the following month. For instance, Return on Free Margin generated for April will be paid to the Client’s wallet during the first week of May. It is always paid in the base currency of the Client’s wallet. Once paid, it can be withdrawn or used in trading at the absolute discretion of the Client with no restrictions.
Clients can view their past and upcoming Return on Free Margin payments via their myHF area. This comprehensive and transparent overview allows traders to track their performance and financial gains efficiently.