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What is the Minimal Amount of Money to Invest and Start Trading Forex?

7:38 AM Oct 17, 2019
15881
For beginners

The global Forex market today allows the trading of more than 170 currencies, and it is an excellent opportunity to earn. So it's not a secret that more and more traders join Forex, mainly from African and Asian countries. However, before your first trade, you must determine the amount of money you need to start trading and learn the Forex market basics. So how much money do you need to start Forex trading in South Africa or Nigeria? Are there any differences? Let's learn more about how to start Forex trading in this short but helpful guide!

Many people today avoid going to Forex, as it seems that they will have to invest a large amount of money right from the start. But this is a misconception. Of course, some trading strategies involve fairly large initial investments. However, with the right choice of a trading account, with a competent trading plan and a proper risk management system, you can start even with a minimum amount of money. Moreover, you can earn on Forex without investing a dime.

In this article, I will tell you what to do to make sure your investment size doesn’t exceed your financial capabilities.

Start with Choosing a Broker

This may seem unlikely, but the size of your start-up capital will directly depend on your broker. Before making your first deposit, make a careful research of the company you plan to trust your money to.

Always take a look at trading terms:

  • Available account types
  • Leverage and spread sizes
  • Commission size

Make sure that the company does not have any hidden commissions, otherwise, you will waste money which you could use to increase your profit.

Make Smart Transactions

There are dozens of payment systems available nowadays. When choosing a broker, make sure to check the list of systems they offer. Always check the following aspects:

  1. Reliability of the payment system
  2. The size of the commission charged by the broker
  3. The size of the commission charged by the payment system
  4. Request processing period

Most likely, you will be allowed to withdraw your money from a broker only after verifying your documents. Indicate only true and accurate information when to make sure you can cash out your profit at any moment.

How to Choose Account Type?

One of the main advantages of brokers today is the availability of several account types. All traders are different. You should choose an account depending on your experience, investment size, and trading strategy.

When making a choice, pay attention to these aspects:

  • Commission and fees
  • Sizes of spread and trading leverage
  • Minimum position size
  • Trading in dollars or cents

Trading on a cent account with minimal position size, you can enter the market with an extremely small initial investment.

In FXCL, you can successfully start trading with a small amount on Micro Cent and Mini account types.

Ask for Assistance for Customer Support

If you find it difficult to choose an account type, you can always contact Customer Support. Based on your preferences and capabilities, they will tell you which type of account suits you best.

How to Make Money Without Investments?

A lot of people avoid Forex as they don’t want to risk their money. But today, this industry offers so many opportunities that you can build your business without investing a dime.

If you are not ready to invest, find those who are ready. You can earn money simply by referring new traders to a brokerage company. And there are many ways to do this:

  • Look for traders among your friends and acquaintances
  • Use social networks - promote on your pages, create groups and communities
  • Promote a broker through advertising on themed or frequently visited websites
  • Place ads in magazines, newspapers, on television (depending on what is popular in your area)

The sky is a limit of available ways to do that. You can definitely find a way that will bring you results.

The profit you make in Partnership you can use for further trading on Forex.

I hope could show you that the Forex business does not always require large investments. If you are full of desire and sufficiently disciplined, then you have every chance to achieve financial independence on Forex.

Click to Start.
Trade with Confidence

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Forex advantages of forex aggressive EAs applications apps ascending triangle ask auto-management auto-trading averaging balance bar chart bars base currency bearish bearish spike bears beginner mistakes beginner trader beginners belt hold bias bid bid/ask bitcoin bonuses breakeven breakeven stop loss breakout breakout strategy breakout trading breathing techniques broker brokers budget bullish bullish spike bulls business buy buy trade buy/sell candle candles candlestick chart candlestick pattern candlesticks carry trading cashback cent account cent accounts cent trading central banks channel chart charts chasing the market checklist clicking the button close trade coins commission commodities competitive advantage confidence confident trading consistent profits consolidation consumer price continuation pattern copy trading coronavirus corrections correlation counter-currency counter-trend trading criminal risks cross currency cross pairs cross-currencies cross-currency cryptocurrency cryptocurrency market currencies currency currency market currency pair currency pairs currency rate currency wars daily candle daily chart daily charts dark cloud cover day trader day trading dealing with losses demo demo account demo accounts demo trading deposit bonus deposits descending triangle devaluation diamond discipline disposition effect distribution divergent triangle doji double bottom double top downtrend drawdown economic calendar economic indicators economic news economic sentiment economical calendar education emotion control emotional trading emotions emotions control end-of-day trading engulfing engulfing candle enter trade entry point entry price equity ethereum euro evening star excessive trading exit point exit trade exotic currencies exotic pairs exotics expanding triangle expert advisors export false breakout false signal fast trading fear fears fed rates decision fees female traders figure figures financial education financial intelligence financial literacy financial markets financial portals flat force majeure forex mistakes forex trading full-time trading fundamental analysis fundamentals gap gap trading goal setting gold golden rule greed hammer hands off hanging man harami harami cross head and shoulders high high volatility high water mark high-frequency trading highs highs and lows holidays iOS indexes indicator indicators indices inflation inflation level inflation rates initial capital initial investment inside bar inside bar trading instant execution instruments interest rate interest rates intermittent fasting intraday strategy intraday traders intraday trading intuition inverse saucer inverted hammer inverted head and shoulders investing investments japanese candles japanese candlesticks laws leaving Forex leverage limit order limits orders line chart liquidity liquidity provider liquidity providers litecoin live live account local transactions lockdown long position long positions long-term goals long-term investing losing streak loss loss control losses lot lot size low low-frequency trading low-hanging fruit low-risk trading lows major news release major trend majors mam margin mark-down mark-up market analysis market balance market cycle market execution market makers market noise market psychology market sentiment martingale marubozu meditation mentor metals micro-lot million mini-lot minimum deposit minors mobile terminal mobile trading monetary policy money management money manager money managers morning routine morning star morning start motivation on Forex moving average multitasking mutual fund national currency news portal news release news releases news site news trading no deposit bonus non-farm payrolls novice trader novice traders novice trading nutrition oil open trade order order execution overbought oversold oversold/overbought overtrading pairs pamm partnership partnership program pattern patterns payment methods payment systems pending order pending orders pennants perfectionism 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