How is the capital needed to start forex? | Forex Factory

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How is the capital needed to start forex?

  • #1
  • First Post: Dec 4, 2008 5:11am Dec 4, 2008 5:11am
Hi guys, i'm very new here. I just need to how much capital is needed to start trading forex? I mean after you've learned everything you need, been trading demo for a year... realistically, how much is needed?

  • #2
  • Dec 4, 2008 5:22am Dec 4, 2008 5:22am
$250 at Interbank fx, $400 at efxgroup.
  • #3
  • Dec 4, 2008 7:29am Dec 4, 2008 7:29am
Each broker had their own start up amount. What I would do is to list the brokers that are mentioned on this thread frequently and then go to their websites. You will find that many are now showing specials if you join before the end of the year.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #4
  • Dec 4, 2008 7:52am Dec 4, 2008 7:52am
I follow up on that thread because I am wondering the same thing. It's not about the minimum money you can throw into your account but about the minimum money you should spend so that you'll have reasonable chances to do something on fx
  • #5
  • Dec 4, 2008 8:09am Dec 4, 2008 8:09am
Quoting toyoproxo
$250 at Interbank fx, $400 at efxgroup.
$1 at Oanda.
  • #6
  • Dec 4, 2008 8:14am Dec 4, 2008 8:14am
Quoting gbart
I follow up on that thread because I am wondering the same thing. It's not about the minimum money you can throw into your account but about the minimum money you should spend so that you'll have reasonable chances to do something on fx
I say atleast $10,000
Trade what you see, not what you think.
  • #7
  • Dec 4, 2008 8:33am Dec 4, 2008 8:33am
Quoting karmostaji
I say atleast $10,000
way too much

$1000 at oanda or ibfx with 1cent/pip is perfect for starters

(i would choose oanda for lower spreads though..but ibfx has automated trading option)
  • #8
  • Dec 4, 2008 8:59am Dec 4, 2008 8:59am
Quoting hilmy83
way too much

$1000 at oanda or ibfx with 1cent/pip is perfect for starters

(i would choose oanda for lower spreads though..but ibfx has automated trading option)
10k not for starters but to be able to make decent $ by risking small %'s
Trade what you see, not what you think.
  • #9
  • Dec 4, 2008 2:03pm Dec 4, 2008 2:03pm
Quoting elgato49
Thanks a lot for the 2 posts above. That's what i'm looking for...

Btw, what do you mean by ibfx has automated trading option? EA?








yes. it's the only reason i switch over to ibfx from oanda. i'm lovin it
  • #10
  • Dec 4, 2008 3:07pm Dec 4, 2008 3:07pm
Im using MT4 from Tradeview and with my demo I started with 5000 but for the real one I started with 10000
  • #11
  • Dec 5, 2008 10:41am Dec 5, 2008 10:41am
The size of account mainly depends off your trading style......
there is no correct answer for your question!
the main thing is to use micro lots, if you are a newbie!!!
forexflash
  • #12
  • Dec 9, 2008 7:33am Dec 9, 2008 7:33am
Quoting FOREXflash
The size of account mainly depends off your trading style......
there is no correct answer for your question!
the main thing is to use micro lots, if you are a newbie!!!
Right. Micro and mini forex is perfect. From what I understand, there are even experienced traders who are still using micro lots. And for a newbie, it implies you can put something between 500 and 1000$ and get experienced.
Not rich, but experienced. If your first live account is burnt instantly, you are not learning anything.
But maybe yes 500$ is too minimal. Think I'll go for a first 1000$ account. And hope for some bonus
  • #13
  • Dec 9, 2008 6:50pm Dec 9, 2008 6:50pm
Quoting elgato49
Hi guys, i'm very new here. I just need to how much capital is needed to start trading forex? I mean after you've learned everything you need, been trading demo for a year... realistically, how much is needed?

Depend on how much you can afford to lose..... Nowadays, there's some broker out there offering you to start trading forex as little as 1$, hence you dont really need to worry about being "undercapitalization".
Trading is the game of fear and greed.
  • #14
  • Dec 9, 2008 7:22pm Dec 9, 2008 7:22pm
Quoting Xaron
$1 at Oanda.
But too boring after 10 trades to have only 5$
1$ is not enough I’d say

Quoting karmostaji
I say atleast $10,000
And 10K$... for wealthy people
  • #15
  • Dec 10, 2008 11:32am Dec 10, 2008 11:32am
Start with $1000 and use micro lots first and paper trade for a year. then you will go to minis and will probably blow up that account. then add another $2000 and see if you can not blow up that account. then after a few years and several months of successful positive income months with your system, then it takes $10k to really do it right. then you can trade 2 mini lots (2%) and make it happen. don't take this example personally, it is just what has happened to thousands of us traders.

Yes I am a pirate Two hundred years too late The cannons don’t thunder There’s nothing to plunder I’m an over 40 victim of fate Arriving too late Arriving too late by Jimmy Buffett

So now I plunder pips
  • #16
  • Dec 10, 2008 11:52am Dec 10, 2008 11:52am
Quoting pip pirate 2
Start with $1000 and use micro lots first and paper trade for a year. then you will go to minis and will probably blow up that account. then add another $2000 and see if you can not blow up that account. then after a few years and several months of successful positive income months with your system, then it takes $10k to really do it right. then you can trade 2 mini lots (2%) and make it happen. don't take this example personally, it is just what has happened to thousands of us traders.

[b][i][color=black][font=Verdana]Yes I am a pirate Two hundred...
Any pirate films you would recomend?
Living the adventure in my head.
  • #17
  • Jun 5, 2017 12:24pm Jun 5, 2017 12:24pm
Quoting FOREXflash
The size of account mainly depends off your trading style...... there is no correct answer for your question! the main thing is to use micro lots, if you are a newbie!!!
^^This. Several pros told me the same.

Cheers.
  • #19
  • Jun 6, 2017 8:50am Jun 6, 2017 8:50am
For a newbie it would be good to start live trading with micro lots and lower leverage. So, I would say around 1K are more than enough.
Most probably you will end up loosing them very quickly. But hey, that is a part of the learning process.
  • #20
  • Jun 7, 2017 12:57am Jun 7, 2017 12:57am
Agree with UlliC at least 1k and micro lots . Remember the first account is not to make money but to overcome the psychological hurdles of trading with real money.
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