This article explains how to open an HFM FX demo account, the trading environment, and the procedure. I want to start foreign exchange trading, but I’m afraid of using real money. If you feel that way, we recommend a demo account. Since a demo account is a virtual trade, you will not lose money. Not only that, it is also a good way to practice trading, so it is recommended for beginners.
Demo account features
Demo accounts use virtual money, so you don’t lose real money. But there are other features as well.
Can be used without identity verification
You can create a demo account in about 5 minutes without verifying your identity. With a real account, you are required to submit documents such as ID and address proof, and visual confirmation by staff is required, so it may take a few days, but with a demo account, you can trade immediately.
account type
There are 4 types of account types that can be selected for the demo account. There are three types of accounts: cent account, premium account, zero account, and contest account.
Create multiple accounts
You can create multiple demo accounts. You can open up to 6 demo accounts at the same time. However, there are conditions. You can hold up to 3 MT4 accounts and up to 3 MT5 accounts at the same time.
use indefinitely
Once a demo account is created, it can be used forever. Therefore, there is no expiration date. However, if there is no transaction for 30 days, the demo account will be archived and will not be available.
Unlimited resets and additions of funds
The demo account can be reset and added funds unlimited times. You can add it yourself without contacting the support center. Click your avatar mark on the top right of the My Page screen to expand the menu as shown below. Click on “My trading account”.
Select the “Demo Account” tab and click the “Add Funds” button. Then enter the amount to add and press the “Add Funds” button to complete.
How to open a demo account
Click the button below to open a demo account. Creating a demo account and creating a real account are almost the same, so please refer to the article below.
If you already have an account
If you already have an account, there is no need to open an account again. Just add a demo account and you’re good to go. Click “Open a demo account” on your CFD trading account on My Page.
When opening an account
Please change the language in the blue frame as the following screen will appear. The procedure starts by clicking “Demo” in the red frame.
When the form is displayed, please enter the necessary information. Do not forget the password and e-mail address you set here, as they will always be used to log in.
Once registration is complete, you will receive an email confirmation. Membership registration is complete when you click the “Account Validation” button in the email.
Once you have logged in, click the CFD trading account “Open a demo account” on the left menu of the screen.
Since you will be selecting an account type, please select a non-contest account. Contest accounts are for a limited time and can only be used for demo trading contests. Please refer to the article below.
Select your base currency, balance, and leverage and you’re done.
The creation of the demo account is completed, and the login information and password of the demo account are displayed. You will receive detailed information about the demo account by email, so be sure to keep it in a safe place.
Points to note about demo accounts
Please be aware of the following points when using the HFM demo account.
Different servers for real and demo accounts
There is a point that the server used is different between the demo account and the real account. Demo accounts are always closed, while real accounts are strongly influenced by economic indicators. Especially in the case of strong indicators such as the US unemployment rate, the spread widens significantly and the ability to execute is reduced, so there is a considerable difference.
For HFM apps
In the case of the HFM app, unlike the web version, the account type can only be selected as a premium account. If you want to try other accounts, they are only available for MT4 or MT5. Therefore, in the case of the app version, please be careful about the account type.
Archived if left unattended
HFM’s demo account is based on the premise that it will continue to be used actively. The demo account will be archived and unavailable if there is no transaction for 29 days. Archived accounts cannot be revived. Please create a new demo account again. Now you can use it again without any problems.
Identification
In the case of a real account, it is mandatory to submit identification documents. However, only demo accounts can be used without submitting identification documents. This is because demo accounts use fictitious money.
Change account type
For demo accounts, the account type cannot be changed midway through. This means that if you want to change your account, you will need to create a new account. However, since it is free, there are no disadvantages.
Up to 10 accounts
You can create up to 10 demo accounts. Up to 10 demo accounts can be created, including previously archived accounts.
Delete demo account
When deleting a demo account, there is no need for the user to perform any deletion procedures. Demo accounts will be automatically archived and become unavailable after 29 days of inactivity. You can create accounts one after another as if they were disposable, and if you don’t use them, you can just leave them alone.
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