The HYCM demo account functions as a risk-free trading environment where users practice market strategies using virtual funds. HYCM provides this account to simulate real trading conditions on the MetaTrader 4 and MetaTrader 5 platforms. Users open an account through HYCM’s website by completing a registration form, verifying their profile, and selecting their preferred trading platform, account type, and base currency. The demo account operates without financial risk and offers access to real-time market data across various tradable assets, including forex, commodities, stocks, indices, and cryptocurrencies.
The HYCM demo account features $50,000 in virtual funds, unlimited usage, and access to over 300 trading instruments. Users trade with leverage options up to 1:500 and experience real-time market conditions. The demo account remains active unless left inactive for over three months, after which it is suspended but can be reactivated. HYCM allows multiple demo accounts and includes educational resources to support learning. Traders can seamlessly transition to a live account from the same platform while maintaining familiarity with HYCM’s trading environment.
HYCM does not impose a time limit on demo accounts, but inactivity for 90 days results in temporary suspension. Reactivation occurs upon request. The demo account remains separate from live trading, eliminating real financial consequences but lacking the psychological pressure of actual trading. Users access market data, test trading strategies, and refine techniques without incurring costs or transaction fees. When ready, traders verify their identity, fund a live account, and continue trading under real market conditions.
How to open a HYCM demo account?
There are five steps to open a HYCM demo account. These are to visit the HYCM’s website, fill the registration form, verify your profile, login into the demo account and customize the demo account. The different steps to open a HYCM demo account are listed below.
First, visit the HYCM’s website. To open a demo account you have to visit the HYCM homepage ((58% of retail CFD accounts lose money)). Here you can click on the “Open An Account” button.
Second, fill the HYCM registration form. Fill in the form with your full name, email address, and phone number as shown below.
Third, verify your profile. Once you have done that and submitted the form, you will receive an email that confirms your account details. You can then access your demo account freely from the dashboard.
Fourth, login into the demo account. Logging in the HYCM account dashboard will allow you to create your demo account.
Last step, customize the demo account. Once you open a demo account, you will be required to choose the characteristics of it. These include the trading platform you want to try, the account type you would like to open as a demo, and the base currency of your choice. HYCM will send you the specific login details to enter the MT4 or MT5 platform depending which one you’ve chosen.
What are the features of the HYCM demo account?
The features of the HYCM demo account are listed below.
- Platforms: HYCM demo accounts offer both the MetaTrader 4 and MetaTrader 5 platforms for practice trading.
- Virtual Funds: HYCM provides demo accounts with $50,000 in virtual money for users to practice trading.
- Tradable Instruments: HYCM offers over 300 trading instruments, such as forex, commodities, indices, stocks, cryptocurrencies, ETFs, bonds, and options.
- Leverage Options: HYCM offers multiple dynamic leverage options up to 1:500 on the MT4 and MT5 platforms.
- Real-Time Data: The HYCM demo account includes real-time market data. This feature allows users to experience trading conditions similar to live accounts.
- Account Duration: HYCM demo accounts remain active unless there is no activity for more than three months, at which time they will be suspended. They can be reactivated at any stage.
- Account Reset: Traders can open as many demo accounts as they wish.
- Educational Resources: The HYCM demo account includes educational resources to help users improve their trading skills.
- Trading Strategies: The HYCM demo account is designed for practicing trading strategies without risking real money.
- Customer Support: Customer support is available for HYCM demo account users to provide assistance as needed.
The HYCM demo account main features and characteristics are detailed in the table below.
| HYCM Demo Account | Characteristics |
|---|---|
| Demo available | Yes |
| Trial duration | Unlimited |
| Demo platforms | MT4, MT5 |
| Virtual money amount | $50,000 |
| Customizable features | Yes |
What is the difference between a live and demo HYCM account?
The differences between HYCM demo and live accounts involve real vs. virtual funds and the presence of trading psychology in live trading. HYCM demo accounts simulate trading conditions but can’t replicate the emotional impact of real money. Slippage is present in live HYCM accounts but not in demo.
Demo accounts allow traders to practice in a risk-free environment, while in live accounts, traders trade with real money. This involves financial risks, as losses have a direct impact on traders’ capital.
Demo accounts try to replicate real market conditions, but factors such as commissions and slippage can lead to differences in the market execution compared to live trading. When trading in real, the lack of liquidity can produce differences between the requested order price and the order’s execution price, known as Slippage. This can sometimes occur during live trading, but does not occur on a demo account as all funds used are virtual.
In live accounts, traders encounter costs, such as commissions, spread and other transaction costs, which affect traders’ earnings, while in the demo account there are no transaction costs and commissions are low or equal to zero. For Live accounts, there is a $10/month fee after 90 days of inactivity, while the demo accounts are unlimited without any cost.
How to switch from a HYCM demo to a HYCM live account?
There are three steps to switch from a HYCM demo to a HYCM live account. These are to provide proof of your identity, verify your account and make the first deposit. The different steps to switch from a HYCM demo to a HYCM live account are listed below.
First, provide proof of your identity (Passport, ID or Driver License) and proof of your residence (Bill utility or bank statement) to get verified. Depending on the country, HYCM may ask more questions to check your trading experience.
Second, HYCM will verify your account. This step confirms that your identity and residence have been authenticated.
Finally, make your first deposit and start trading. The traders can make the first HYCM minimum deposit, which starts from $100 depending on the account type chosen. When switching to a live account, your demo will still be available.
How to best use a HYCM demo account?
To best use a HYCM demo account you have to set up the demo account as you would set up a real account, avoid opening large positions, treat money as if it were real, practice daily and use the learning materials offered by HYCM.
Set up the demo account just as you would a real one by selecting the appropriate trading platform, currency, balance, and account type. This will help you create a realistic trading environment and prepare you for actual market conditions.
Avoid opening large positions unless you plan to trade with significant amounts of money in a real account. Treat the virtual funds as if they were real to develop disciplined trading habits and risk management skills.
Trade exactly as you would with real money. Avoid making careless decisions just because it’s a demo account. Treat each trade seriously to build discipline and confidence.
Practice daily to sharpen your skills. Regular trading will help you understand market movements, refine your strategies, and improve decision-making under different conditions.
Make use of all the features and support offered by HYCM. Explore tools, educational resources, and customer support to maximize your learning and get the most out of your demo experience.
What are the advantages of a HYCM demo account?
The advantages of a HYCM demo account are listed below.
- Trial duration: the HYCM demo account is unlimited
- Risk-Free Environment: allows traders to practice trading techniques and strategies without risking real money
- Knowing the platform: allows traders to learn and familiarize themselves with the platform offered by broker
- User-friendly: traders can easily manage their virtual portfolio thanks to a clean and simple interface
What are the disadvantages of a HYCM demo account?
The disadvantages of a HYCM demo account are listed below.
- Ignoring risk management: traders use virtual money and may not fully understand the importance of risk management
- Lack of the psychological factor: it can lead to a false sense of security
- No slippage: demo accounts allow you to execute orders at the requested price and can lead to unrealistic expectations of the markets
To find out more about HYCM’s characteristics, features, pros and cons and opinions, check out our “HYCM review“.