How Much Money To Start Forex Trading

[Aaronpp]

There is no amount of money you should start with specifically, the money you want to use to trade must be money you don’t depend on for your food, services, etc. It must be money that you are willing to lose if you have a wrong and move that leaves you in a very low capital.

 

[mark_t]

I would suggest everyone newbie to start with a micro account. So do not risk huge funds in the beginning, go slow.

 

[HeavenLeighGill]

I think there are benefits to starting with a small amount, especially for beginners that may be timid about depositing money into their account at first. You can also test withdrawal methods and so on. However, I think it’s a good idea to start with at least $100 or more so that you’ll have a good bit of capital to trade on.

 

[vicjon1995]

Start small, maybe a $100 or $200 of capital that doesn’t hurt much if completely lost.

 

[Variss]

I believe $1000 is a good amount, $500 isn't that bad too

 

[vicjon1995]

I believe $1000 is a good amount, $500 isn't that bad too

Don’t you think a $1000 dollars is too much to start with. I wouldn’t suggest this amount to my enemy, let alone others.

 

[Glossy]

After successfully trading on a demo account, I advise you to use no more than a thousand dollars to start.

 

[wilbertunderwood]

@Glossy I think that’s still a big amount, one should make use of a micro account to trade live first.

 

[Glossy]

No more than a thousand dollars.
Everyone for himself can decide how much it will be.

 

[hk_09]

Don’t you think a $1000 dollars is too much to start with. I wouldn’t suggest this amount to my enemy, let alone others.

Yea, pretty much that is quite too much, but I think ultimately, it comes down to trader's perspective on adding the funds. Some don't mind adding $1000 and some don't mind adding $100.

 

[Black Bobble]

If you can afford to invest $ 50,000 in trading, then why not, everyone has their own budget.
Where did you even get these amounts of $ 1000 or $ 100?

 

[ScratchyTrapped]

I have started just with my free 300$ (free I mean I was able to lose them from the start) but I think that if you are newbie you should have first capital as low as possible for this to not get tilted in case of losing and to gain some first experience

 

[JoshEvansFX]

I started with a few k, but then came across prop firms such as FTMO and My Forex Funds. Decided to pass their challenges and then getting funded by them. Took a while, but better than trading with my own money.

 

[Fried_Rice]

Anything from $10 upwards is fine...

 

[sunar14]

Don’t you think a $1000 dollars is too much to start with. I wouldn’t suggest this amount to my enemy, let alone others.

If you focus on relative performance like returns, drawdowns expressed as percentage from your equity then actual amount of money doesn't matter that much

 

[no_frame]

Just think about how much you can afford to lose. Then use that amount.

 

[tomass]

The good thing about forex trading is that you don’t need a specific amount to start trading. You will be good with an amount that you can afford to lose. I started with $100 and didn’t increase the amount until I was sure that I was doing well enough to take bigger risks.

 

[sharabela]

Deo

Are you looking to start forex trading? Would you like to know how much money you need to start forex trading? If so, we can tell you that you can start trading forex with as little investment as you can. Forex trading can even be started without investing a single penny. Today, we will be discussing some types of forex accounts that you can open to start forex trading as per your convenience. Before we go into the details, we would like you to have some basic understanding about the forex market.

The Forex market is massive and it undergoes a daily transactional volume of around 5.3 trillion dollars. You can easily be blown away if you are a novice trader. Sometime even experienced traders find it very difficult to trade especially in a fast-moving market. The reason is the rapid movements in the prices of the financial instruments coupled with a high leverage. Therefore, it is always better to start low. Try to learn tips and tricks of the forex market first, then you can gradually increase your investment to earn bigger profits.

Types Of Forex Accounts
There are a lot of accounts that you may consider when opening a forex account. These accounts include but not limited to deposit account, no deposit account, micro account, mini account, standard, silver, gold, platinum and VIP accounts. You can choose any of them to start forex trading. However, we would recommend going for micro or mini forex accounts in the beginning, since they need smaller amounts to start with. On the other hand, you can also use demo account to practice your trading without investing your money. However, you won’t be able to cash out any earnings that you’ve made in a demo account.

Having said that, we now would like to enlist few important bits that you must consider before opening a forex account.

1. Always Go For A Regulated Broker
To start trading forex, the first thing you need to do is to choose a suitable broker. A broker will give you access to the Forex and you can use their platform to execute your trades. Often, brokers allow you to use a demo accounts. But this is not always the case. You may well need to make a deposit with your broker. Make sure that the broker you have selected to open a forex account with is regulated. Regulation makes brokers follow certain rules and SOPs in place by their respective regulatory bodies. In short, you will have a peace of mind your investment is in a safe place.

2. Look For Deposits and Withdraw Process Of Your Prospected Broker
Often brokers allow you to deposit using various available methods. However, when it comes to withdrawing funds, it can sometimes be a longer process. Remember, not all brokers have the same procedures. Reputable brokers generally process your withdrawal request within 24 hours.

3. Talk To Customer Support Of Your Broker
Customer support is considered the face on an organization. Reputable brokers always ensure they provide their customers an excellent customer service. A good way of gauging a forex brokers customer support is by asking questions about the company, trading platform, demo accounts, trading tools in addition to available financial instruments to trade. A good broker will always answer you all queries or at least most of them. On the other hand, less reputable brokers would only be interested in answering your queries once you have funded your account.

Final Words
Trading forex can be a great way of increasing your income and ultimately giving you financial freedom. As mentioned earlier, it is worthwhile to first improve your trading skills, learn from your mistakes and then increase your investment gradually. [URL deleted]

Demo trading is vital. It is to be done with ultimate passion as if we are trading with real money. You have made some good points about choosing a broker. Yes, same day withdrawal and good customer support are two most important features about brokers that traders need. Thanks for sharing the writing here.