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