HFM Demo Account: Opening & Key Information (2022)

filippo ucchino Filippo Ucchino calendar Last Updated: September 2022 timer 5 Min Read

In this article, every area regarding the HotForex demo account will be covered in detail.

The InvestinGoal team has taken a close look at the HotForex demo account features and opening process.

Main features of the HF Markets demo account:

  • It’s unlimited
  • It’s totally free
  • Easy to open
  • All live account markets and assets available
  • Wide array of trading platforms
  • You can install EAs
Table of Content

Round-up

HotForex demo account Characteristics
Demo available Yes
Trial duration Unlimited
Demo platforms MT4, MT5, Mobile Proprietary Platform
Virtual money amount Up to $100.000
Customizable features Yes

Visit HFM
(70.77% of retail CFD accounts lose money)

HotForex demo account opening tutorial: step by step procedure

Here is our step-by-step guide on using your HotForex demo account.

Step 1: Visit the HotForex’s website

To open a HF Markets demo account you have to visit the broker’s website and click ‘Demo’.

HotForex is regulated by multiple different regulatory bodies, so, depending on your residency, the broker will redirect you to the correct HF Markets branch.

For instance, if you are based in the European Union, the broker will redirect you to the CySEC regulated branch. The homepage layout may be slightly different depending on the branch. However, you will always be able to find the option to open a demo account.

Open a demo account from the HotForex homepage

Visit HFM
(70.77% of retail CFD accounts lose money)

Step 2: Fill the registration form

You will be given 2 options: open the demo as a new client and open the demo as an existing client. We’ll follow the new client opening process.

The HF Markets demo account registration form is slightly longer than the standard as it requires to enter more information than other brokers. HotForex here requires you to enter your basic personal information such as Name, Surname, Email Address, Phone Number together with your country of residence, and date of birth.

Fill in the register form for a HotForex demo account

Step 3: Verify your profile

After the registration form you will be required to click on the activation link which will generate the information needed to log into the HF Markets dashboard.

You successfully completed the register form for a HotForex demo account

Go to your email account inbox and click on the link provided by HotForex, you will be redirected to your trading account dashboard.

HotForex will send an e-mail to confirm your demo account

Step 4: Customize the demo account

Once you have reached your account dashboard, choose the option to open a demo account from the taskbar “My Accounts”. From here, you can set the features of your demo account including currency and leverage.

Step 5: Login into the demo account

Once the account is ready, HF Markets will provide a download link to the MetaTrader platform which is necessary to start trading with the specific login details.

HotForex’s demo account features

Opening a demo account with HotForex is a very simple process. You need to provide a valid phone number and email account. The demo account has an unlimited trial and you can open multiple demo accounts through your personal area.

There are more than 140 tradable markets and up to $100.000 of virtual money is available. You can choose between the MT4 and the MT5 platform, as well as a mobile proprietary mobile platform.

There are also tools to speed up learning such as training courses videos. HotForex also offers a copy trading service which can let you copy the trades of more expert traders.

Differences between live and demo HotForex accounts

With HF Markets you can usually select between all of the available account types when choosing your demo account.

This selection will only differ depending upon your regulatory area, with the options available through CySEC and FCA being slightly different from what you can access through world markets.

As with other demo accounts offered by other brokers, the major difference is slippage. This can sometimes occur during busy or volatile market periods of live trading, meaning it cannot be simulated through a demo account.

The demo account offered by HotForex is unlimited, meaning it won’t be closed by the broker’s system after a few days of trial. However, the broker may close it in case of inactivity: in fact, after 29 days of no login or trading activity on your demo account, HF Market reserves the right to cancel your free demo account without notification.

Regarding live accounts, the broker charges a $5 fee per month starting after 6 months of inactivity.

How to switch to a live account

When switching to a live account, you will still be able to trade through your demo account.

To open a live account you will need to upload proof of your identity (Passport, ID, or Driver’s License) and proof of your residence (Bill utility or bank statement) in order for the broker to verify your account.

Depending on the country, HotForex may ask you to fill a questionnaire about your trading knowledge and more. As soon as HotForex allows the verification of the account, you can fund it. Generally HotForex’s minimum deposit is $100.

How to best use your HotForex demo account

Here are a few tips on how to get the best out of your HotForex demo account.

  • Set up the HF demo account as you would set up a real account with platform, leverage, balance and account type
  • Do not open large positions if you are not planning to trade with large amounts of money
  • Treat money as if it were real, just like you’re in an live trading environment
  • Practice daily
  • Use the range of educational tools offered by HotForex

Pros and cons of the HotForex demo account

Pros

  • Unlimited
  • Wide range of trading platforms

Cons

  • Offering is location dependent

About The Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Leave a Reply

Your email address will not be published.

Better Informed

Find and Compare The Best
Online Broker For You

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
ADVERTISER DISCLOSURE: InvestinGoal is completely free to use for all. Though we may receive a commission from brokers we feature, this does not impact the results of our reviews or rankings which are conducted with complete independence and objectivity, following our own impartial methodology. Help us continue to provide the best free broker reviews by opening your account with our links. Please read our Advertiser Disclosure to learn more.
Copyright © 2022 InvestinGoal.com – All rights reserved. / Privacy and Cookie Policy / Basic Terms of Use / Risk Warning / Sitemap