Opening a HF Markets demo account is a very natural and simple process to consider when you are thinking of trading through any of the HotForex account types in the future.
Also known as HotForex, HF Markets is a top forex broker, and one with many options when it comes to trading.
If you are considering opening a HF Markets live account, then the demo account can be a really great learning experience for you.
Luckily, we have prepared this complete tutorial, including images for you to follow when opening your HF Markets account. This should help ensure the smoothest process possible.
Here we go:
HF Markets Demo Account Opening Tutorial
Taking the first steps to opening your HF Markets demo account are really quite easy. Nevertheless, this can be genuinely confusing or daunting for some. This is especially true if you have never traded before.
In that case, relax and follow our step by step tutorial of opening a HF Markets demo account.
Step 1 – Getting Started With Your HF Markets Demo Account
The very first step in getting your HF Markets demo account up and running is to head on over to the home page. The address here will differ slightly depending on the focus of your trading.
If you are EU-based and trading under CySEC regulation, then you will head over to the HF EU site. This is where we will primarily focus our attention for the moment, though if you wish to trade from other locations with HF Markets, you can also access this global markets arm of the company operating still as Hot Forex.
Once you have reached the homepage, as shown below, simply click on the demo button as highlighted in the top right corner.
From there, you will navigate through one information page where you should select if you are a new or existing client. You are then ready for the next step.
Step 2 – Fill in registration form
The HF Markets demo account registration form is slightly longer than some other top forex brokers in that you should enter your basic personal information together with your country of residence, date of birth, and which regulatory body you fall under. This is still all relatively simple and you should be sure to enter a verifiable email address and telephone number to make sure you can get started.
Once you have filled this form, actually you are almost there to having your HF Markets demo account open and ready to trade.
Step 3 – HF Markets Demo Account – What Documents/Information do you Need?
As this is still your demo account, you will not require any documents to be verified in order to get started, although if you are thinking about opening a HF Markets live account soon, it does not hurt to prepare ahead of time!
What you will need to do is verify the email address you used to sign up. Clicking on the activation link here as described below, will generate the information you need to log into your HF Markets dashboard and trade with your demo account.
Step 4 – Confirm the account via email/telephone
As mentioned above, your email will have to be verified. Simply go to your inbox and click on the link in the email you received. It is completely safe and an example is shown below.
Once you have done this, you will be automatically logged into your dashboard and a new ID and password generated for you.
The only thing to be careful of in this step is to make sure you also check your junk email folder when receiving the confirmation email as they can sometimes become stuck there.
Step 5 – First login into the demo account
Your very first login to your demo account should happen automatically when you click the activation link in your email. From here, your next stop will be your account dashboard.
Once you have reached your account dashboard, simply click on “open demo account” one more time from the taskbar above under “My Accounts”. Once you have done this, you should see the following confirmation page which also includes a link to download your MT4 platform, and your trading platform login information.
Step 6 – Choosing Your HF Markets Demo Account Platform
HF Markets is a Metatrader broker, and although they do also operate their own multiterminal, the only platform of choice for you as a HF Markets demo account holder is to download the MT4 trading platform.
A link will be provided for you to conveniently do this as shown above.
HF Markets Demo Account Review
Now that you have hopefully succeeded in getting your HF Markets demo account up and running, let’s analyze a few of the more detailed points related to the account itself.
What Types of HF Markets Demo Account are Available?
With HF Markets, there is typically no restriction on the type of demo account which you can operate. This means that 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 will be slightly different from what you can access through world markets.
HF Markets Demo Account Features, Restrictions and Differences with Live Account
Luckily, the HF Markets live account provides for all of the same benefits as a live account. The demo account is basically an identical replica of what you can expect from the HF Markets live account.
Unlike some other brokers, the demo account also comes as unlimited. You can continue to use up to 3 demo accounts for as long as you please. These provide the ideal access to $100,000 virtual funds to hone your trading skills on MT4. If you are based under the regulation of FCA (UK), SV (Saint Vincent), or FSCA (South Africa), you will have the additional freedom to trade with MT5.
The major difference of course, as with any demo forex trading account, is slippage. This can sometimes occur, particularly during busy or volatile market periods of live trading. These cannot be simulated through a demo account, and so, this is the only small difference to look out for.
Advantages of Trading with an HF Markets Demo Account
Of course, we should take a moment to consider the many benefits which come attached to trading with a HF Markets demo account.
The first and most obvious benefit is the fact that you are trading without risk. You are also doing this under conditions which exactly replicate the real-life, live account situations. This experience can be invaluable in helping improve your trading skills, and getting to know what works and what doesn’t when trading forex.
With both MT4 and MT5 (in most cases) available, and without limitation for up to 3 demo accounts, you also have a fantastic opportunity to learn all about these great platforms. They can also be used to continually test any of your strategies prior to implementation with a live account. This is something which could also save you both time and money.
HF Markets Demo Account Management
The final element related to HF demo account opening which we will cover is how to manage certain situations which may occur during the running of your account once it is open.
This is not generally something which you need to worry a great deal about since the demo account is unlimited in terms of how long you can leave it open and trading. The issue may occur though if your demo account is open and inactive.
After 29 days of no trading activity on your demo account, it will be closed without notification.
Restoring expired demo accounts
Again, restoring your HF Markets demo account is not something you typically need to worry about due to the fact that the period of operation is unlimited.
As mentioned above, if it happens that you pass 29 days without trading, your demo account will be closed. Unfortunately if this happens, there is also no way to restore your previous demo account, although you can open up to 3 separate demo accounts at any one time.
Finally, as happens to all of us from time to time, if you lose any of your login details such as HF Markets password, the best thing which you can do is contact the HF Markets support team. They are always available to help.