Hello everyone, my name is Shawn.
I am anavid Forex and cryptocurrency trader.
Today we're gonna show you how to setupa demo account on metatrader 4 on your iPhone with Hugosway.
But before weget started, if you haven't already and you like my content, please subscribe tomy channel and click the notification bell so you are alerted that I have newcontent available.
Alright, let's get started.
First we're gonna assume thatyou've already downloaded mt4 onto your phone from the App Store.
You're gonnawant to load it by pressing the icon and it'll bring it to this screen you seeright here.
Don't worry if yours doesn't look exactly the same.
It will soonenough.
So first things first, we want to click on the Settings button at thebottom right hand corner.
So we click on that and it brings you to the setupscreen.
Now we want to set up a new account.
So we're gonna press on NEWACCOUNT.
There's only two options open a demo account or log in to an existingaccount.
So we're gonna open a demo account and usually this list isn'tshowing.
So what we want to do is we would click on the enter company nameand start typing in Hugo and that's when Hugo's way demo 3 will come up.
So we're gonna press on Hugosway-demo3 and you're gonna be presented with thisscreen here.
So you see it's already got a name in there for us but you can justclick on that and you can change that to anything you want say my demo, your phonenumber is gonna be your phone number your email address is going to be yourcontact info now the most important stuff is down the bottom for accounttype there's only one choice and that's Hugoforex.
For leverage you want tohave the highest leverage possible well at least that's what we use in thetrading group I'm in called IML.
We use 1 to 500 leverage and if you click on ityou have a bunch of other choices.
The more leverage you use means the moreopen trades you can have at any one time.
It uses less of your accountto make those trades.
Now if you had it at one-to-one I guarantee you you'reonly going to be able to open up one trade because you'll be using yourentire margin.
So now that we have it set to 1 to 500 and the checkmarks beside it, we're gonna press the information button, top left.
That's going to bring us backto the setup screen.
Now another point to check is the deposit amount.
Now this isjust a demo account, so this is just fake money.
now you have a bunch of differentchoices.
If you're just a beginner, I suggest starting as low as possible sothat your risk is limited just for you to get the feel of it.
Because if you putin a million dollars it's gonna be a lot easier to sit there and play around anddrop a hundred thousand here and a hundred thousand there and it's notgoing to be realistic for you.
So start at three thousand dollars.
Next step, register top right corner.
Now to bring you to this screen.
Now this is yourlogin information.
You see at the top you got Hugosway-demo3, your login isactually your account number for Hugosway.
Your password is your tradingpassword.
So if you wanted somebody to be able to trade with this account that'sthe password that you would give them.
But you keep all this information toyourself especially if it's a real account.
And your investor password is ifyou want somebody to be able to follow along with your trades without beingable to make trades.
So you would give them the login account number and thenyour investor password if you want somebody to be able to follow you.
Ok nowwe're done setting up the demo account.
Press done top right corner and nowyou're going to be presented with your Forex pairs that are available.
At thebottom there are two exotics that we don't teach anybody to trade with.
Sowhat we're gonna do is we're gonna press the pencil in the top left corner inblue and it's going to open up all those pairs to be edited.
So all we're going todo is tap the two bottom pairs click the trash can in the top rightcorner that's red.
Now they're removed.
Now we're going to stop editing byclicking the pencil again and you see they're all available.
So what we want isthere's 28 Forex pairs we're gonna click on the plus button to add the rest ofthem.
Now you see we have a bunch of choices.
We have exotics, which are allthe different money pairs for the world.
Indices which is like the Dow Jones andthe S&P 500.
We got futures, we got stocks, we got FXcrosses, energy which is US oil, we have metals which is gold and silver and thenwe have crypto currencies.
What we want to click on to get the rest of the Forexpairs is FX crosses.
Now you see there's the rest of our Forex pairs.
All we needto do is press the plus sign for every single one of them and add them all toour portfolio.
So we'll just start adding those all the way to the bottom untilthey all disappear.
Then click on done in the top right corner.
And now you see wehave all the Forex pairs available to us to be traded.
Now if we go to the tradetab, bottom middle.
Press that you see we have 3, 000 dollars available, no marginsbeing used, we have 3, 000 dollars worth of free margin, we have 3, 000 balance of3, 000 equity.
That means it's an unused account.
History at the bottom shows that we've just did a deposit of $3, 000 into our demo account and no trades have beenmade because you'll be able to see them by clicking on day week and month.
We cango and check the charts by clicking on the chart tab at the bottom corner andthen we can go back to our quote stream by quickly clicking on quotes in thebottom left corner.
Now to make sure which account we're in we can go back tothe settings tab bottom right and you can see it's the My Demo accountat the top and you can add new accounts and we can add a real account later ondown which I'll show you in another video.
But that's basically it forsetting up a demo account on Mt4 on your iPhone with Hugosway.
It's verysimilar setting up demo accounts for a lot of the other brokers that are outthere.
So then again, thank you for watching.
If you like my content pleasehit the SUBSCRIBE button and click the notification Bell to get announcementsof new videos that I put out.
Have an awesome day guys.