How Much Money Do I Need to Start Trading Forex?
Do not start with $10 dollars, even if your broker tells you that you can begin with that amount, in fact do not begin trading with $100 as this is not enough to trade with. It is best to save & begin when you have $1,000 dollars which is the minimum amount recommended to trade with.
- If you want to begin with $1,000 dollars, open a micro account & only open micro lots
- If you want to begin with $50,000 dollars, open a standard account & only open standard lots
- If you want to start with $100,000 dollars, open a standard account and open standard lots
There are 2 types of forex accounts that traders can open: micro & standard. For each recommended beginning capital is specified above.
