How to Open an HFM Demo Account | Deadline, Benefits, Points to Note, and Balance Reset Explained

When you want to try out an HFM demo account, you might be wondering how to open one

"I want to open an HFM demo account on my smartphone!"
"Can I use MT5 with an HFM demo account?"
"Does a demo account have an expiration date?"

article will answer all of the common questions you might have about opening a demo account with HFM

This article will explain the features, opening process, benefits, and points to note regarding HFM demo accounts

Differences between HFM demo accounts and real accounts

An HFM demo account is an account that allows anyone to try virtual FX trading for free .

You can use virtual funds to trade FX on real-time charts, just like with a real account

You can easily open a demo account for overseas forex trading completely free of charge

[HFM Demo Account vs. Live Account Comparison Chart]

Comparison items	HFM Demo Account	HFM Real Account
funds	Virtual Funds	own funds
Leverage	Up to 2000x magnification, selectable	Up to 2000x magnification, selectable
Trading Tools	MT4, MT5	MT4, MT5
Profit and loss risks	none	can be
Account type, number of accounts	Three account types available. Multiple account opening is OK.
Indicator	A wide variety of options are available	A wide variety of options are available
EA, Copy Trading	Only available in the free version	No restrictions
date of expiry	Automatic cancellation after 30 days of non-use	Automatic cancellation after 90 days of unused period
Identity verification	none	can be
Campaigns, events	You can win prize money in the demo trading contest.	Deposit bonuses , loyalty programs, cashback, etc.

First, let's look at the features of the HFM demo account, comparing them to a real account

Features of an HFM demo account: ① No real money (cash) is used

The HFM demo account offers the exact same leverage and trading tools as a real account. The only difference is that a risk-free FX trading experience that doesn't use any of your own funds . Because you trade with virtual money, there's no risk of losing your own money.

HFM offers a maximum leverage of 2,000 times. While high leverage is generally considered high-risk, actually trading with real money requires courage. However, a demo account allows you to practice without any upfront investment, providing peace of mind

In a real account, you use your own funds

In a real account, you use actual funds. The maximum leverage can be set to any value in both real and demo accounts. However, while high-leverage trading in a real account can potentially yield profits,The risk of losing a large portion of your fundsThere is

HFM Demo Account Feature ②: Choose from 3 Account Types

HFM's demo account allows you to choose from three different real accounts

• Cent account (for small transactions)
• Premium Account (Standard)
• Demo Contest Account

The three accounts mentioned above allow you to choose between MT4 and MT5, just like with a real account. The Cent account is designed for small-amount trading, with a lot size of 1,000 currency units. The Premium account is the average account for overseas forex brokers and corresponds to the Standard account. Beginners are recommended to try the Cent account.

Additionally, demo contest account where you can compete in rankings through demo trading . Although trading uses virtual funds, top performers can win prize money.

With a real account, you can choose from six different account types

With a real account, you can choose from six account types

• Cent account (for small transactions)
• Premium Account (Standard)
• Pro account (narrower spreads)
• Zero account (extremely narrow spread, with fees)
• Top-up bonus account (for deposit bonuses only)
• HF Copy Account (for copy trading only)

For more details on HFM account types, please refer to this article

HFM's Complete Account Type Comparison Guide | A Thorough Explanation of Recommended Account Types

HFM Demo Account Feature ③: Multiple Accounts Can Be Opened

Some overseas forex brokers limit the number of demo accounts you can open. HFM allows you to open up to six demo accounts . For example, you can use Cent accounts with both MT4 and MT5. You can also open three account types simultaneously and compare them.

You can use multiple demo accounts to compare results for each trading strategy, which can be used for testing and developing new methods

You can open up to 10 real accounts

Even with a physical account, you can use multiple accounts simultaneously. open up to 10 accounts . Even if you reach the maximum number of accounts, you can add more accounts by requesting the closure of unnecessary accounts.

HFM Demo Account Feature ④: Has an expiration date if unused

HFM demo accountBasically indefiniteHowever,If the account remains inactive for more than 30 days, it will be closedIt will happen

If a demo account remains unused for more than 30 days, it will be automatically closed. However, by making at least one trade every 29 days, you can use it indefinitely. Other brokers often limit the usage period regardless of whether the account is used or not. With HFM, you can utilize the demo account for medium- to long-term trading as well

The period during which a real account is unused is 90 days

On the other hand, the validity period for a real account is 90 days based on the period of inactivity. If there are no trades for 90 days, the account will be automatically frozen and closed . You are required to make at least one trade within 89 days.

HFM Demo Account Feature #5: No Identity Verification Required

Opening an HFM demo account does not require identity verification . You can easily open a demo account by simply registering your email address.

Opening a demo account takes only a few minutes, making it easy for anyone to try it out. Even those who are hesitant to immediately provide personal information to an overseas forex broker can try it out with a demo account, providing peace of mind

Identity verification is required for real accounts

Real accounts require identity verification because you will be using your own funds to trade.

The system is designed so that only bank accounts and accounts in the user's own name can be used for deposits and withdrawals. To prevent money laundering, fraud, and financial crimes, overseas forex brokers thoroughly verify the user's identity

A thorough explanation of the benefits of the HFM demo account

Next, let's discuss the benefits of using an HFM demo account

Advantages of an HFM demo account: ① Easy to open a real account

One of the advantages of using HFM's demo account you can easily open a real account from the member page .

Opening a demo account gives users access to HFM's member page. This is very convenient as it allows you to familiarize yourself with the member page's usability and apply for a real account at any time. You can open a real account from the member page menu under "Trading Account" → "Real Account"

Once you have entered your personal information and completed identity verification, you can start live trading with real money on a real account

HFM Demo Account Advantage #2: You can practice FX trading risk-free

Another advantage of using an HFM demo account is that you can practice trading completely risk-free

For beginners, it can be difficult to visualize how to enter a trade (take a position) and how to close it to make a profit in FX trading. Using your capital without understanding the tricks to making money is dangerous because the risk of loss is too high

With a demo account, even if you incur a large loss, your actual capital loss will be zero. You can then move on to real trading after you've grasped the tricks of trading and the techniques for making money

Advantage #3 of the HFM demo account: You can earn funds through demo contests

Furthermore, a great benefit of the HFM demo account to participate in demo trading contests .

This trading contest is literally conducted using a demo account, and requires absolutely no real money. Its appeal lies in the fact that it's completely risk-free and allows you to compete with virtual funds

By opening a dedicated account for the demo trading contest, anyone from beginners to advanced traders can aim for a top prize. You will be given $10,000 in virtual money as trading funds, and you will compete based on your profits from the 1st to the last day of each month

Examples of prize money for demo trading contests published on the HFM official website

Top finishers will receive trading bonuses ranging from $500 for 3rd place to $2,000 for 1st place. This prize money can be used as capital to earn cash through HFM

Advantages of an HFM demo account ④ You can use real-time charts for MT4 and MT5

HFM's demo account to trade on the MT4/MT5 trading platform under the exact same conditions as a real account .

One of the advantages of using an HFM demo account is that you can use the globally acclaimed MT4/MT5 real-time charts without using any funds

MT4 and MT5 are the world's most popular trading platforms. You can perform more effective technical analysis using MT4 and MT5 charts and technical tools. You can learn how to use them and prepare for real trading

Advantage #5 of the HFM demo account: You can try out countless indicators and EAs

And one more thing: another advantage of the HFM demo account is that you can try out numerous indicators and free automated trading systems

MT4 and MT5 come standard with approximately 60 technical tools, including drawing functions. Not only can you use all of these, but you can also install as many corresponding custom indicators and tools as you like for free. Automated trading EAs (Expert Advisors) can also be installed and used for free on MT4 and MT5 if they are free versions

A wide variety of indicators and automated trading EAs are being developed all over the world. You can find the one that suits your needs on the MQL5 marketplace

You can find basic information about MQL5 in this article. Please refer to it as well

An introduction to automated trading (EA) in overseas forex! We explain how to get started and introduce free MT4/MT5 EAs

A complete guide to all the important points to note about HFM demo accounts

As we've seen, HFM demo accounts certainly offer many advantages. However, there are a few things to be aware of

Now, look at some important points to keep in mind when using an HFM demo account .

I keep making unplanned, gambling-style trades

First, the most important thing to remember when using a demo account to avoid practicing with high-leverage, gambling-style trading .

There are only two answers in FX trading: in principle, it's either "go up" or "go down." Because it's a simple choice between two options, it seems easy at first glance, and with leverage of 1000x or 2000x, you can aim for huge profitsI tend to fall into the trap of "all or nothing gambling."is

You must be careful, because if you're just gambling on whether something will go up or down, you won't actually acquire any skills even if you practice on a demo account

Practice finding the rationale for your trades using a demo account

Demo trading is a great way to learn the basics of FX trading. It's recommended to practice using to find the reasons behind "why buy" and "why sell."

The expiration date for HFM demo accounts is "29 days of non-use."

Another point to note is your demo account will be closed if it remains inactive for 29 days .

HFM demo accounts will be closed if they remain inactive for 29 daysYour account will be automatically canceled and you will no longer be able to log inYour account will cease to exist. If you wish to use it for an extended period, please log in and trade regularly without interruption

You can use it indefinitely as long as you make at least one trade in 29 days

A demo account can be opened in just a few minutes

With HFM, you can open up to six demo accounts. Even if one account is closed, you can easily open another one, so you can rest assured.

What are the advantages of high-leverage trading in overseas forex? We'll introduce methods for increasing your capital starting with a small amount and recommend some brokers!

HFM's paid EAs and copy trading are not available

It's also important to note that with a demo account , you cannot use paid versions of automated trading EAs or copy trading .

HFM is also a popular overseas forex broker known for its automated trading EAs and copy trading. Perhaps some of you might want to open a demo account and try out automated trading or copy trading

MT4 and MT5 automated trading platforms offer both free and paid versions. Generally, the free version can be used with a demo account, and paid versions that support demo accounts can also be used. However,All copy trading services are paid versions, and even automated trading services are not available on demo accountsThis feature is not available on demo accounts

The paid version can only be used with a real account

If you wish to try the paid versions of automated trading or copy trading, you will need to open a real account .

Live trading is completely different from demo trading

And the most important thing to be aware of when using a demo account is that your mental state is completely different when you're trading in real time compared to demo trading

In live trading, you actually invest your own money . This is incomparably more emotionally driven than demo trading, which uses fictitious funds. When exchange rates surge or plummet right before your eyes, or when your balance or profit/loss decreases or increases, it often becomes difficult to stick to your own strategy and rules.

Cases where people are swayed by the emotions of "wanting to make a profit" and "not wanting to incur a loss," leading to huge lossesThis is not uncommon. This applies not only to beginners but to all traders

You'll gain more by investing money in practice

Some FX traders believe that demo accounts are not truly effective for practice. They argue that the ability to calmly manage risk and funds without being swayed by emotions is a skill that can only be learned when your own capital is damaged

If you truly want to acquire trading skills, you'll improve faster by trading with real money .

How to open an HFM demo account (smartphone version)

Now, let's actually open a demo account with HFM together

The general process for opening a demo account is as follows:

1. Register as a member on the HFM official website
2. Perform email verification
3. Log in to myHF (member page) and open a demo account
4. Set your account type and trading conditions
5. You will receive an email confirming that your demo account is complete
6. Free download of MT4 and MT5
7. Log in to your demo account and start trading!

Here, how to open a demo account using the smartphone version, which can be easily operated . The general process is the same for Android, iPhone, and PC versions of demo account opening. Please use this as a reference for the basic steps and methods.

Step 1. Register as a member on the HFM official website

First, register as a new member on the HFM official website

If you are already registered, please log in to your member page and start from Step 3

the HFM official website, "Menu" in the upper right corner of the top screen, then tap "Register".

Enter your email address and password (optional), then tap "Continue" .

Step 2. Perform email verification

Next, you will receive a verification code via email. Enter the verification code you received to complete email verification

Step 3. Open a demo account from the myHF area

Next, please log in to the myHF area (member page)

You will log in using the email address and password you initially set

Go to the "Trading Accounts" from the menu select "Demo Account" .

Once you've selected a demo account, tap "Select" to proceed.

Step 4. Setting the account type and trading conditions

Next, select the type of demo account and set the trading conditions

1. Choose either MT4 or MT5 (Important!)
2. Currencies → Japanese Yen, USD
3. Leverage
4. Funds (Enter the amount)
5. Nickname (optional)
6. Password (optional)
7. I agree to the terms of service
8. "Open an account" → Tap

Be sure to check the section where you first decide whether to use MT4 or MT5

Step 5. You will receive an email confirming that your demo account has been opened

When you tap the "Open Account" button, you will receive an email confirming that your demo account has been opened

This email contains your MT4/MT5 login ID, password, and server name , so please save it in a safe place.

Step 6. Download MT4/MT5 for free

Now, the next step is to download and install "MT4/MT5"

On the HFM official website, select "Trading" → "MT5 (MT4)" from the menu Scroll down the MT5 (MT4) page you will find a screen to select your terminal.

Please select your desired device and download and install the software. If you wish to install it on a PC, please download it from the official PC version website

Step 7. Log in to your demo account and start trading!

Once the installation is complete, log in to the platform using your MT4/MT5 ID, password, and server name

Open the menu in the upper right corner of MT5, select "Account Management," and then tap the "+" icon on the next screen. This will bring up a screen where you can either "Open a Demo Account" or "Log in to an Existing Account."

Since you have already opened a demo account with HFM, the option you should select here is "Log in to an existing account" .

On the next screen, you will see a search bar for the brokerage firm's name. Enter "HFM" and select the corresponding server name .

After selecting the server name, a login screen will appear. Log in using your ID and password .

At this point, you are ready to trade on your demo account

After reviewing how to use MT4 and MT5, you can start demo trading anytime. Detailed instructions on setting up and using MT4 and MT5 are provided in the following article. Please refer to it as well

A complete guide to setting up HFM in MT5 | Easy-to-understand explanation with smartphone images

A complete guide to setting up HFM in MT4 | Easy-to-understand explanation with smartphone images

How to reset your account balance

HFM demo accounts do not have a balance reset function。

If you want to reset your balance, you can open a new demo account. HFM allows you to open up to six demo accounts. If you want to start trading from scratch again, you can open another demo account. Opening a demo account only takes a few minutes, so it's convenient to use even if you want to reset your balance

How to use and master an HFM demo account

Once your HFM demo account is ready, you can finally start trading. Since you're using a demo account, you'll want to use it effectively to prepare for real trading

Here, we'll introduce how to use and master the HFM demo account

Check the usability of HFM

Demo accounts are used not only for trading practice, but also to check the usability of overseas forex brokers. You should also check if the available deposit and withdrawal methods are convenient for you

Find safe leverage and lot sizes

If possible, it's best to use a demo trading amount that matches your actual planned deposit amount to practice risk management in a more realistic trading environment

A Complete Guide to HFM Leverage | Detailed Explanation of Account Types, Restrictions, and Regulatory Rules

Learn how to use MT4 and MT5

You can deepen your knowledge of MT4 and MT5 even while trading with real money. However, you should definitely make sure you understand the order methods before trading with real money

Test indicators and trading methods

HFM's demo account is a popular choice for a wide range of users, from beginners to advanced players. It can be opened in just a few minutes using only an email address, and it's valid indefinitely

Some traders use demo accounts in conjunction with real accounts for technical analysis, so let's make good use of them

Mastering Scalping with HFM: A Complete Guide from Prohibited Actions to Recommended Accounts and Winning Strategies

How to close/delete an HFM demo account

Finally, let's look at how to close or delete your HFM demo account

No cancellation or deletion procedures are necessary

HFM demo accounts are automatically closed after 30 days of inactivity. Therefore, there is no need to take any special steps to cancel or delete them

If you want to close or delete your demo account for any reason, .

If you wish to use a demo account again, you can log in to the myHF area (member page) and open a new demo account, so you can rest assured

By the way, if you'd like to try out demo accounts from different overseas forex brokers, please refer to the article below for more information

Recommended Overseas Forex Demo Account Comparison List | From Free MT4/MT5 Accounts to Unlimited Accounts Explained

Summary: HFM's demo account offers many advantages and is highly recommended!

As we've seen, HFM's demo account offers numerous advantages, including "easy access to opening a real account," " no risk," "the opportunity to win prizes in trading contests," "the ability to use MT4 and MT5," and "the chance to test indicators and automated trading EAs.

HFM is a major broker with 15 years of experience and holds financial licenses in 7 countries. a highly reliable and trustworthy overseas forex broker , using a demo account as preparation for actual trading is highly worthwhile.

Let's take this opportunity to try out HFM's demo account

Furthermore, opening a real account with HFM our website, "Money Charger (Manecha) ," allows you to receive cashback for every trade. HFM offers a high cashback rate and a popular broker among our customers . Please take advantage of this when trading with an HFM real account.

https://money-charger.com/trader/hfm/