This article explains the features, mechanisms, opening procedures, trading environment, multiple additions, and fund reset procedures of the HFM (HFMarkets, HotForex) FX demo account. Want to start trading foreign exchange but are afraid to use real money? A demo account is recommended for those who feel this way. Because demo accounts are virtual trades, you won’t lose money. Not only that, but they also provide trading practice, making them ideal for beginners.
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 |
Basic Information about HFM Demo Accounts
Here are some basic details about HFM (formerly HotForex) demo accounts. Demo accounts allow you to practice trading without using real money, making them ideal for beginners and those trying out new trading strategies. Members can access the latest information by tapping on the page from the home page. Since balances are virtual funds rather than cash, there are no campaigns or cashback offers.
Account Features
Funding: Virtual funds (any amount can be set, e.g., $10,000)
Tradable Instruments:
FX Currency Pairs (Major, Minor, Exotic)
Precious Metals (Gold, Silver, etc.)
Crude Oil, Stock Indices
Cryptocurrencies (Depending on Account Type)
Trading Platform:
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
(Some accounts also support the HFM Web Trader)
Leverage
Up to 1:1000 (Selectable in Account Settings)
This is a demo account, so you can try high leverage risk-free.
Account Currency
Choose from major currencies such as USD, EUR, and JPY.
Order Methods
Same order types as real accounts, including market orders, limit orders, and stop-loss orders, are available.
Account Expiry Period
Normally 30 days (renewable)
Multiple demo accounts can be opened.
Benefits
Practice trading without using real money
Get familiar with the trading platform
Test new strategies and EAs (automated trading)
Points to Note
The psychological pressures of a demo account are different from those of a real account.
Spreads and execution speeds may differ slightly from those of a real account.
HFM Demo Account Opening Procedure
Here, we’ll explain the official step-by-step process for opening an HFM demo account so even beginners can easily understand it. You can try authenticating and trading stocks. Because this is a special account, you can open multiple accounts at the same time, making it recommended for those who want to trade indefinitely and without any restrictions. Please review the details before using it.
Step 1: Visit the official website
Visit the HFM official website
Click “Open an Account” or “Open a Demo Account” in the upper right corner of the screen.
Step 2: Select a Demo Account
Select “Demo Account”
Select your platform:
MT4 (MetaTrader 4)
MT5 (MetaTrader 5)
Select your account type (e.g., cent account, micro account, etc.)
Select your leverage (e.g., 1:100, 1:500, 1:1000)
Enter your virtual funds amount (e.g., $10,000)
Step 3: Enter your personal information
Name (the same as your passport or driver’s license name is fine)
Email address
Phone number
Account currency (e.g., USD, EUR, JPY)
*Select your country of residence, if necessary
Step 4: Create an account
Click the “Create a Demo Account” button
Your account information will be generated in seconds:
Account number
Password
Server Name (for MT4/MT5)
Step 5: Log in to the Platform
Download MT4/MT5 to your PC or smartphone
Launch the downloaded platform
Select “Log in to an existing account”
Enter your issued account number, password, and server name
Once you’re logged in, you can start trading
Key Points and Caution
A demo account offers the same trading environment as a real account, but with less of a psychological burden
If you want to create multiple accounts, you can create them using different email addresses.
Account expiration is usually 30 days, but you can extend or re-create them.
HFM Demo Account Money Management
This section explains money management in the HFM demo account. Even though it’s a demo account, it’s important to practice money management properly to develop a sense of real-time, automated trading in a real account. If you’re a registered member, make sure you understand each and every aspect of the system before holding an account. We recommend trying it out to experience stop-loss and take-profit strategies.
Virtual Funds Setting
You can freely set your virtual funds when opening a demo account (e.g., $10,000).
If you’re considering a real account, it’s best to set a realistic amount.
Example: If you plan to invest $1,000 in your real account, set a similar amount for your demo account.
Funds per Trade
The general rule is to risk 1-2% of your total funds per trade.
Example: $10,000 total funds → 1% = $100 loss tolerance.
Not risking too much in a demo account is a good psychological exercise.
Position Size Management
Set the appropriate lot size to ensure losses are within your tolerance.
With HFM MT4/MT5, you can easily calculate the lot size when opening a position.
Setting Stop Loss and Take Profit
Always set stop losses and take profits, even in demo accounts.
By setting your target profit and loss, you can trade with rules closer to those of a real account.
Trade Recording and Review
Record your trading history with a demo account and check your win rate and profit/loss.
Analyze your success and failure patterns to improve your capital management in a real account.
Leverage Management
Even with high leverage in a demo account, losses are virtual, so it’s safe.
However, it’s a good idea to keep in mind the leverage you’ll use in your real account when trading.
Example: Plan to use 1:100 in your real account → Practice with the same leverage in the demo account.
Summary
Demo accounts are ideal for practicing capital management.
Manage your trading with an eye on your total capital, risk per trade, stop-loss and take-profit, lot size, and leverage.
Make this a habit and you’ll be able to trade calmly in your real account.
Demo Account Password Management
Password management is just as important for HFM demo accounts as it is for real accounts. Passwords are especially important when creating multiple accounts or using them for extended periods, as they can easily become forgotten. We’ve summarized them below. Please manage your passwords carefully to ensure you can continue to use the available features for as long as possible.
Password Basics
Use the account number and password issued by HFM when you create a demo account.
Required for logging in to MT4/MT5.
A combination of uppercase and lowercase letters and numbers is most secure.
Password Management Methods
Store in a secure location.
Encrypted folder on your computer.
Password management app (e.g., 1Password, LastPass).
If writing down your passwords on paper.
Store in a secure place at home.
It is safer not to write down your account number and password together.
For Multiple Accounts
Manage passwords by account number.
Organize your account number, password, and platform in a notepad or management app.
If You Forgot Your Password
You can reissue your demo account password.
Log in to the HFM official website.
“My Account” → “Demo Account” → “Reissue Password.”
After reissuing your password, use the new password on the platform (MT4/MT5).
Security Precautions
Do not easily share your demo account password.
Do not log in from a public computer or in an online environment such as a cafe.
Demo account information is generally secure, but it is a good practice to manage it the same way as you would for a real account.
How to Use the HFM Demo Account
More than just a practice account, the HFM demo account is a powerful tool for honing your trading skills and money management abilities. Below are some specific ways to use it.
Familiarize yourself with the trading platform
Experience MT4 and MT5 operations, chart display, order entry, and indicator usage.
Practice with peace of mind compared to trading with a real account.
Test your trading strategy
Try various strategies, including scalping, day trading, and swing trading.
You can also test EAs (automated trading).
Check your win rate and profit/loss trends without the risk of a real account.
Money management training
Practice setting per-trade risk and lot size.
Practice following stop-loss and take-profit rules.
Analyze your demo account records to minimize losses in a real account.
Psychological training
Although you don’t use real capital with a demo account, trading with an awareness of profit and loss provides psychological training.
Improve your ability to judge wins and losses.
Once you become more familiar with the demo account, gradually practice with settings closer to those of a real account.
Understand new products and markets
Experience all of HFM’s products, including FX currency pairs, precious metals, stock indexes, crude oil, and cryptocurrencies.
Learn the price movement characteristics and volatility of each market.
Identify the features of each account type.
Get a feel for trading with each HFM account type, including cent accounts, micro accounts, and zero spread accounts, through demos.
Decide which account type best suits your trading style.
Regularly review and improve.
Keep a trading record even with a demo account and analyze it weekly or monthly.
Review your win rate, profit/loss, and stop-loss timing to ensure a smooth transition to a real account.
Important Points to Note When Using an HFM Demo Account
HFM’s demo account is convenient, but there are a few things to keep in mind when using it. If you don’t understand these, you may experience a gap when switching to a real account.
Psychological pressure is different from a real account.
Demo accounts use virtual funds, so it’s difficult to feel losses.
Emotions can affect your decisions on the same trade in a real account, which can lead to different decisions.
Execution speeds and spreads may vary.
Demo accounts may be more likely to accept orders than real accounts depending on the server environment.
Spreads (the difference between buying and selling prices) may be set narrower than real accounts.
The difference can be particularly noticeable in short-term trading (scalping).
Be careful when practicing with excessive leverage.
High leverage can be used risk-free in a demo account, but it can result in large losses in a real account.
When practicing, it is recommended to trade with leverage equivalent to that of a real account.
There are limits to actual psychological training.
Even if you experience multiple losses in a demo account, it’s easier to remain calm because there is no actual financial damage.
Even the same loss in a real account can be a significant psychological burden, affecting your trading decisions.
Account Expiration Date
HFM demo accounts typically expire after 30 days.
If you want to practice for a longer period, you must re-create them before the expiration date.
Beware of Overconfidence in Your Strategy
Even if a strategy works well in a demo account, slippage and psychological factors can affect results in a real account.
It is dangerous to apply demo results directly to a real account.
Personal Information Management
Securely manage demo account information (account number and password).
If you have multiple accounts, keep them organized; otherwise, confusion will result.
How to Cancel an HFM Demo Account
Canceling (deleting) an HFM demo account is very simple. Unlike real accounts, demo accounts only contain virtual funds, so closing an account has no financial consequences. The steps are outlined below.
Method 1: Delete from HFM My Account
Log in to the HFM official website
HFM official website
Access My Account
Open the “Demo Account Management” or “Account List” section
Select the demo account you want to delete
Click the “Delete Account” or “Close” button
Select “Delete” on the confirmation screen
Once the demo account disappears from the list, you’re done.
Method 2: Log out from the platform
You can effectively stop using your account by simply logging out of your MT4/MT5 account.
The demo account will remain on the server, but you will not be able to access it unless you forget your login information.
To completely delete it, you must delete it from My Account.
Notes
Once deleted, the account number and funding information cannot be restored.
Demo accounts are automatically disabled upon expiration, but deleting them can help streamline your account.
If you manage multiple demo accounts, it is recommended that you delete unnecessary accounts to organize your account.
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