HFM Demo Account Review 🎮Practice Your Strategies Risk-Free

Having used HFM as my broker since 2016, I can provide an unbiased review of their demo account based on my extensive experience with their services.
In this review, I will explore the features and benefits of the (HotForex) HFM demo account, which is a useful tool for both beginner and experienced traders to test their strategies, learn the platform, and gain confidence before diving into live trading.

Overall Rating 4.8/5

What is The HFM (Formerly known as Hotforex) Demo Account?

A demo account with HFM is a secure trading tool where you can practice trading using virtual funds without any risk.

This account provides traders with a safe environment to test trading strategies, become familiar with the trading platform, and build confidence in their trading skills.

HFM's demo accounts are free to use and replicate real trading conditions, offering access to the same wide range of financial instruments available in live accounts.

HFM is a well-regarded online forex broker, regulated and recognized in the industry, having earned multiple awards for its services and reliability.

Features Of The HFM Demo Account

🔍 Account	📌 HFM (HotForex) Demo Account
❇ Usage	Unlimited
🛒 Market Conditions	Real Market Conditions
🏋️‍♂️Leverage	Up to 1: 500 (adjustable)
💻 Platforms	MT4, MT5, Webtrader & HFM App
💲 Account balance	Up to $100,000 virtual opening balance (adjustable)
🚀 Open an Account	👉 Click Here

HFM offers two distinct types of demo accounts, each catering to different trader needs and preferences: the Demo Premium and the Demo Zero. Here are the features of each:

Demo Premium Account Features:

• Platforms: Supports HFM, MT5, and MT4 trading platforms.
• Risk-Free Trading: Allows for the risk-free testing of trading strategies.
• Spreads and Commissions: Features premium spreads with no commission fees.
• Market Prices: Provides real-time, live market prices for a realistic trading experience.
• Virtual Balance: Offers a virtual opening balance up to $100,000.
• Adjustability: Enables adjustments to balance and leverage.
• Trading Conditions: Tradable within the HFM app and is compatible with the MT5 platform.
• Expiration: The account remains active for 60 days after setup.

This is the demo version of the HFM Premium Real account.

Demo Zero Account Features:

• Platform: Available on the MT4 platform.
• Risk-Free Trading: Facilitates risk-free testing of trading strategies.
• Spreads and Commissions: Offers zero spreads and low commission fees.
• Market Prices: Includes live market prices for accurate trading simulation.
• Virtual Balance: Comes with a virtual opening balance up to $100,000.
• Adjustability: Allows adjustments to balance and leverage.
• Trading Conditions: Tradable within the HFM platform.
• Expiration: Unlimited.

This is the demo version of the HFM Zero live account.

---

These accounts are ideal for both new and experienced traders to practice trading under real market conditions without the risk of losing real money, and to familiarize themselves with HFM's trading platforms.

Step-by-Step Guide – How to Open an HFM Demo Account

Step 1: Visit the HFM Website

Start by navigating to the HFM website sign-up page.

Click on ‘Try Free Demo Account‘ button under the ”Register” button.

Step 2: Enter your details

Enter your details including your country of residence, email and password. Read and accept the privacy conditions and click on ”Register”.

Step 3: Verify Your Email

You will receive an email from HFM. Open this email and click on the verification link to continue.

Step 4: Complete your profile

Complete your profile by providing personal details such as your name, gender, phone number, and country of birth. You must also select your date of birth and the default base currency for your HF Wallet. The base currency cannot be changed later so choose carefully.

Step 5: Get Your Login Details & Download the Trading Platform

You will get confirmation of your demo account.

Download the Metatrader [platform and login. You can also use the web trader right in your browser.

How To Do Hotforex Demo Account Login (HFM Login)

Simply follow the steps below to log in to your Hotforex demo account

1. Open your preferred trading platform e.g. WebTrader, MT4, MT5, Mobile app, etc.
2. Click on Settings> Log in to new account
3. Enter your login ID, password, and server. These are the credentials you got when you opened the HF Markets demo account. You will then be logged into your account.

HFM Demo Account – Pros and Cons

👍 Pros	👎Cons
A good tool to test trading strategies risk-free	Does not fully simulate real trading conditions as there is no psychological aspect
Allows you to test the features of the different account types	Can breed negative habits like overtrading
Unlimited demo account duration	Demo account funds cannot be used to trade live markets and cannot be withdrawn
🚀Open an account	👉 Click Here

Tips For Using The Hotforex Demo Account

These tips can help you get the best out of your Hotforex demo account.

• Treat your Hotforex demo account like a live account. Use it daily, and keep a journal of your trades.
• Ensure that your demo account settings, including leverage and account balance, are the same as the ones you will use on a live account. This ensures a realistic simulation of live trading conditions.
  
• Avoid topping up your demo account balance when you incur losses. Instead, view these losses as valuable learning opportunities that inform your trading decisions.
  
• Apply the same risk management principles you would employ in a live account. Experiment with different risk management strategies to determine the most effective approach for your trading style.
  
• Execute trades using lot sizes proportionate to your demo account balance. This mirrors the actual risk exposure you would face in a live account.
  
  
  
• Assess the performance and metrics of various signal providers over several months in your demo account. Compare their performance to determine if they align with your trading goals before committing capital to their strategies.
  
• Recognize that the demo account environment may not fully replicate the psychological factors involved in live trading. Be mindful of these limitations and adjust your approach accordingly.

HFM Demo Contest

The Hotforex has a unique feature that allows you to win real cash prizes by trading on your demo account.

The Hotforex ‘Virtual to Real’ Demo Contest is open to anyone who opens an HFM account. You can win up to $2000 in real money credited to your live account without risking your funds.

Learn more about the HF Markets demo contest.

Overall, the HotForex Demo Account is a fantastic tool for beginners and experienced traders alike to hone their skills, test new strategies, and familiarize themselves with the HotForex trading platform. 

However, it is crucial to remember that transitioning to a live account is essential in order to truly encounter the realities of trading. While the demo account offers valuable practice, transitioning to live trading is necessary to fully experience the challenges and rewards of real trading

You might also like: HotForex Broker Review

You might also like: HotForex Account Types Overview

You might also like: HotForex Fees and Spreads

You might also like: Deriv Demo Account Review

Frequently Asked Questions on Hotforex Demo Account