In this HotForex review you will learn how important it is to open up a demo account. If you are seriously looking to becoming a better investor, you must practice fake trades first. Most people don't realize the importance of opening up a demo account. Basically a demo account is a tool that traders use to practice trades that are alike those on a live account. Furthermore, users on a demo can learn and apply new methods that they learn. The best thing about demo trading is that their are no risks if you lose anything because its fake money.
While researching for this HotForex review, I found that HotForex offers great customer service as well. Some trading brokers or platforms won't offer this feature unless you deposit money into the account. Then the industry has brokers that will restrict access to the feature once your virtual fake money runs out. This can be very complicated for some that are new to the industry. I personally think that it's absurd that some brokers will prevent clients from practicing at anytime. I believe that its essential for new investors to learn first before live trading.
General Risk Disclaimer: Your capital is at risk.
The best part of this HotForex review is that they were founded in 2010, HotForex is an award-winning forex and commodities broker, offering trading services to clients. As well as the demo feature which I was talking about which can help you learn. We don't recommend that anyone dives straight into a live account, because of the heavy risk cost. Another great way to learn trading is to observe or learn what other mentors are doing. Their are a lot of mentors in the industry of Forex and Commodities who would love to provide their services.
Just be aware that not all investors on social media are good people, some are actually misleading to the public. I've seen friends that had tried to come into the industry and got scammed out of their hard earned money. So just keep in mind whenever you are looking for a mentor, checking out their background for details. Overall I believe that if you stick to learning at first, over time you will become better at reading charts, etc. It takes a lot of practice to get the hang of it but over time it will be worth it. We hope that this HotForex review gave you some insight on the importance of demo trading.