How much does it cost to start in forex trading?
How much does it cost to start a professional Forex trading business , what qualities or traits are required to do so and how much profit or return one should expect?.
These are some of the questions which every beginner has in his mind, when he plans to start a business in Forex trading. Forex trade now can be started with very little or no capital at all.There are many brokerage companies who offer credit facilities and upfront deposits to set you up for the launch; however for a professional setup you do need to have some money with you. But before you actually start venturing in the trade, it is very important for you to learn the skills and techniques for trading in Forex. You should consult experienced people and devise a plan to familiarize your self with the various processes and indicators that control the movement of capital.Gains and profits are quite high since Forex trading is a high risk high return business, but then so are the losses; therefore aggressive trading from the start is not advisable.
Last edited by Phoenix; 05-12-2012 at 12:59 AM.
Well the figure varies on case to case basis. There are main brokerage houses and then there are sub-houses. To become member of the main house, you may need to invest more but in case of a member house, the money required to start doing the forex trading is less. Different houses keep different figures for allowing to start trading. The money limit can be any amount starting from 100 Dollars to 500 Dollars.
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@ thread starter... If you wanna know how much to invest to start trading forex the answer's simple. You can start with as low as 5$. However, the first priority should not be how much to invest but how you could get the required knowledge to trade successfully. Forex's not some business you throw money into and expect to make peofits. there're rudiments and you most learn them before you think of investing any money.
Therefore, if you had not alredy learned the basics, I advice you start from there. take it one step at a time and you will surely get to the top.
However, if your question's on how to go into big time investment into forex, I still suggest you learn how the market works first before thinking of investing.
Thanks for the reply and I totally agree with your point of view ;and in fact if you look closely, the second part of my question covers this aspect. However I believe that It is an important factor to take into consideration-- "how much investment to expect?" before you can actually commit yourself to a project and start preparing or training for its launch.
In uwcfx, you need $25 to start trading :) It's depend on where we join forex itself. For first time, we can invest minimum money to trade. This is beside to try those broker connection, also to know is the payment safe or not. If we're suitable with those broker and want to continue doing trading seriously in those broker, then we can add more money as our investment. Always make sure before investing is good for us. We didn't want to loss our money by joining SCAM broker right?
Originally Posted by skinky
Man Jadda Wajada
I think there are two ways you can start with forex.First is to have some capital as low as 10 bucks and then you can trade in most of the online forex brokers. You can also consider micro accounts at cost 1 bucks. But note that they don't earn much and it takes more time to get profit oout of them. So for now start with 25 bucks or more with say UWCFX as your broker. You can also add more money if you want to earn more.
Another way is to join official UWC forum or fxfred forum and then get paid for posting. That payment is posted on the broker account which you can use for the real profit. I have seen people using that profit to earn some decent returns and you can do that too. I am sure you will make money either way.
Yes you are right, but this capital is suitable for newbies.
Originally Posted by Ksami
In order to become a professional trader you should need more than 100k dollars.
Otherwise you fail to become professional trader.
The query is about what ideal investment required to become a professional trader not for newbie.
As a newbie, you can start with lowest amount so as to get experience.
But if you want to be a professional you may need to invest big capital.
To start forex trading you need a reasonable amount so that you can make quality profit from your trades.
But as a newbie when starting out in forex trading you should invest a little amount this is to try out your skills since you have been practicing in demo account and being your first time. The amount should be invested into a micro account to minimize risk of trading.
As professional traders it is advisable to start with a minimum of $1000 as your capital to get better result and lesser risk.
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i must say that I more like the second option especally for newbies in forex trading. By posting on forex forums like fxfred you stand to both learn and earn at the same time. Using that bonus is good way to introduce yourself to the world of forex trading without having to use your own money which will come as an advantage since many people may not have the funds at their disposal to start trading. In essense the more you become active on such a forum you stand to gain a lot of information related to forex trading and you still get rewarded with a bonus as well.
Originally Posted by ryuken
Yes it is never that good to start off with your trading career with your own money if you are not a good and experienced trader.Because it is requires a lot of investment and if you are not using the correct policies then you are going to be in losses.And there are some traders that donot keep stop loss and that is why they happen to lose very much.
Originally Posted by Tirus
I think that it is very ideal for a beginner to start trading with forums bonus and I am also doing that currently.Because you will have enough to trade with some good deal of lots.Even though not with 1 standard lot but you can still trade to get some decent profit from high price per pip.And by posting in forex realted sites you are not only going to earn but you are also going to learn.
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