Exness Review
HFM Demo Account
Overall, HFM offers a free Demo Account. Demo accounts are available on all accounts. HotForex is regulated by HFM Investments Limited. HotForex is authorized by one tier-1 regulator (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust).
- Louis Schoeman
Jump to:
Demo Account Overview
Demo Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
HFM at a Glance
| 🏛 Headquartered | Cyprus |
| 🌎 Global Offices | Seychelles, South Africa, Dubai, UK, Kenya |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2010 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 1️⃣ Tier-1 Licenses | • Financial Conduct Authority (FCA) |
| 2️⃣ Tier-2 Licenses | • Financial Sector Conduct Authority (FSCA) • Cyprus Securities and Exchange Commission (CySEC) • Capital Markets Authority (CMA) • Dubai Financial Services Authority (DFSA) |
| 3️⃣ Tier-3 Licenses | • Financial Services Authority (FSA) • Financial Services Commission (FSC) |
| 🪪 License Number | • South Africa – FSP 46632 • Cyprus – 183/12 • Dubai – F004885 • Seychelles – SD015 • United Kingdom – 801701 • Mauritius – 094286/GBL • Kenya – CMA license 155 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Global Restrictions | • France ACPR – 53684 • Germany BaFin – 132342 • Hungary MNB – K8761153 • Italy CONSOB– 3673 • Norway – FT00080085 • Spain CNMV – 3427 • Sweden FI – 31987 • Austria FMA • Bulgaria FSC • Croatia HANFA • Czech Republic CNB • Denmark Finanstilsynet • Estonia FSA • Finland FSA • Greece HCMC • Iceland FME • Central Bank of Ireland • Latvia FKTK • Liechtenstein FMA • Lithuania Lietuvos Bankas • Luxembourg CSSF • Malta MFSA • Poland KNF • Portugal CMVM • Romania ASF • Slovakia NBS • Slovenia ATVP |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 5 |
| ✔️ PAMM Accounts | No |
| 💻 Liquidity Providers | Barclays UK, BNP Paribas, and others |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | 0.0 pips |
| 📉 Minimum Commission per Trade | $3 to $4 |
| 💰 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | Between 40% to 50% |
| 🛑 Stop-Out | Between 10% and 20% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 60 lots |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | Yes |
| 📈 Maximum Leverage | 1:2000 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 0 BWP or an equivalent to $0 |
| ✔️ Botswana Pula Deposits Allowed? | Yes |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based HFM customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Bank Wire Transfer • Electronic Transfer • Credit Card • Debit Card • Skrill |
| 💻 Minimum Withdrawal Time | 10 Minutes |
| ⏰ Maximum Estimated Withdrawal Time | 10 business days |
| 💳 Instant Deposits and Instant Withdrawals? | No |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • HF App |
| 💻 Tradable Assets | • Forex • Precious Metals • Energies • Indices • Shares • Commodities • Cryptocurrencies • Bonds • Stocks DMA • ETFs |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | None |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | 20 Languages |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Botswana-based customer support? | No |
| 💸 Bonuses and Promotions for Botswanans? | No |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is HFM a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for HFM Botswana | 9/10 |
| 🥇 Trust score for HFM Botswana | 85% |
| 👉 Open Account | 👉 Open Account |
How to set up a Demo Account – Step by Step
Step 1 – On the HFM Homepage, click on the Demo button.
The Demo Account button will be available throughout the HFM website regardless of the page viewed.
Step 2 – Select Individual and complete information as requested and Register.
Traders will be required to enter their personal information in order to complete the registration process.
Step 3 – Email Verification
Once these steps are completed, traders will receive an email notification to verify their HFM Demo account.
HFM Demo Account Features
Based on actual market circumstances, the HFM Demo Account properly simulates a true trading environment. The unconstrained nature of the HFM Demo is ideal for inexperienced traders.
The initial virtual balance for Botswanans will be 100,000 USD, which could be adjusted on demand.
Botswana traders get easy access to charts, news, and analysis, the fully-featured MT4 and MT5 platforms, and real-time pricing and currency market volatility.
HFM provides Botswana traders with the option to open a demo account for any of the following account types:
➡️ Micro Account
➡️ Premium Account
➡️ HFCopy Account
What features are available in HotForex’s Demo Account?
HotForex’s Demo Account offers traders a risk-free environment to practice and familiarize themselves with the platform and trading conditions. Some of the key features of the Demo Account include access to real-time market data, a wide range of trading instruments across various asset classes, and the ability to test different trading strategies and techniques.
Is there a time limit for using the HotForex Demo Account?
HotForex typically provides traders with unlimited access to the Demo Account. This means there is no specific time limit imposed for using the Demo Account, allowing traders to practice and refine their skills for as long as they need.
HFM Botswana Pros and Cons
| ✔️ Pros | ❌ Cons |
| Botswanans can sign up for a practice account within minutes | The HFM App is limited and cannot be used for trading activities |
| The demo account is unlimited | |
| HFM offers educational materials that are ideal for beginners | |
| The demo account can be used on MT4 and MT5 | |
| HFM customer support is available to help Botswanans |
Verdict on HFM
Overall, HFM is very competitive in terms of its trading fees and spreads.
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Conclusion
Now it is your turn to participate:
Do you have any prior experience?
What was the determining factor in your decision to engage?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below
Frequently Asked Questions
For how long is the HFM demo account available?
HFM offers a demo account that never expires.
How long does it take to verify my HFM demo account?
Your demo account will be approved once you verify your email address.
Which HFM live accounts can I demo?
You can register a Micro, Premium, and HFcopy demo account with HFM.
Which trading platforms can I use with the HFM demo?
You can choose between MetaTrader 4 and MetaTrader 5.
What happens when my HFM demo account runs out of funds?
You can easily reset your virtual funds in your demo account settings on the HFM website.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
