Feb
27
How much do I need to get started trading in forex?
Posted by admin under Investing
Brian G asked:
How much money does it take to get started trading in the forex market?
How much money does it take to get started trading in the forex market?
March 1st, 2008 at 7:54 am
It depends on which platform you choose to go with. I’ve been through several, and different places have different minimum deposits. There are some proven platforms out there but others are just terrible.
It would be better to start trading on a demo account first before putting up any hard earned money. Trust me, you don’t want to make that mistake and find out the hard way.
There is the potential to make lots of money trading forex and I wish you luck.
March 2nd, 2008 at 10:16 am
There are many places online where you can get started for as little as $100. There are also places online where you need a significant sum to get started.
Here is what I suggest. Find a site that offers a demo account you can try out that doesn’t charge you anything to get started. A lot of the junk out there says they will give you a demo account to get started with after you buy there product. That means they want your money before they show you anything. That sets off a few alarms on my end.
If the system is good and quality then you should be able to try it out without buying anything first. That is how I found the system I use now and I am very happy with the service, support and money I am making.
I hope this helps with your search.
March 4th, 2008 at 10:44 am
I think that you should start with at least a 1000 dollars.Any less than that would be a big risk without a good money managment.
March 7th, 2008 at 10:14 pm
As some one said..Do not start trading forex with your own money.. Practice your skills on a demo account. and when you have good wining rate create a paid account.. It doesnt matter how much money you start with (just dont use money you can’t loose hehe) as long as you have a good money management.. Remember here you’re not on a casino trying to find your lucky day.. Forex trading is a skill you can use today . next year and even 10 years to go .. so no rush…
But to answer your question stre8.. they are brokers that requires a min $100 deposit
March 8th, 2008 at 7:49 pm
Short Answer: As much as you’re willing to lose
If you’ve got a house and stuff you COULD remortage it and invest hundreds of thousands of $ into forex but guess what? That would be the worst decision of your life because you’ll be gambling your whole life on somethnig you can’t control.
My suggestion is that you check out and download their free 5 steps ebook which tells you EXACTLY what you need to get started… and how not to lose your shirt!
March 9th, 2008 at 10:30 am
I would normally suggest starting out with $500, but like someone else said here. You should start with a demo account to get the hang of it before you step right into trading with your own money.
March 10th, 2008 at 5:44 am
Depends, you can start with 500 USD, but a budget of 3K to 5K is the best to start with. Keep in mind though, that this is spending money
March 12th, 2008 at 6:30 am
Entirely depending on the platform you choose, and the lot step of the platform.
You must have a minimum of 1000 pips in spare margin using the lowest lot size of the platform.,
This is your minimum investment.
Some platforms allow 1 cent per pip, which translates into a minimum investment of $10 to start off.