When you trade using a Live account, your broker will allow you to set a password, change password, change leverage from the client dashboard. But, if you trade using a demo account, it can be a problem when you need to change or reset the password.
Scenario 1: You forgot the MetaTrader 4 Demo Password. What to do?
If the trader forgot the Metatrader 4 demo password, he could try to find the password in the broker’s email message or reset the password from the user dashboard (from the broker’s online portal ). The forgotten Metatrader demo password can not be retrieved from the MT4 platform (password can be reset only if you know the old password). Some brokers do not allow users to manage demo accounts in the client dashboard, and then traders can only open the new accounts.
Sometimes the trader wants only to change the password, to replace it with a new one.
Scenario 2: You have a demo account password, and you want to change it.
You can change the current password in the MT4 platform if you go to the MetaTrader menu section in Tools/Options/Server and then change your password. You need to put an old password and a new password in this process.
Here are a few examples, how to change password at different forex brokers:
How to reset Hotforex password :
How to change Hotforex password:
As you see in the video above, if you forgot MetaTrader 4 demo password or live password, you can enter into trader’s cabinet (from your broker’s online website platform) and change.
How to reset the demo account MT4 balance? Traders can reset or change the MT4 demo account’s balance only from the account broker’s page (go to broker’s website, log in, and in the demo account section, set new balance). However, many brokers do not allow demo account balance settings, so traders need to open a new demo account and choose a new balance.
