logotype
Back to list

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

7:38 PG 17/10/2019
14897
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.

Popular articles

Stay tuned for the latest FXCL stories

trading habits trading strategy trading plan forex trading forex mistakes broker profit trading instruments pairs price advantages of forex leverage FXCL Forex trading daily charts charts risk management demo trading trading history beginners novice traders account type cent trading Mini Micro Cent Partnership commission fees trading terms spread fundamental analysis technical analysis Stop Loss news trading economical calendar indicators market analysis major news release currency pair currency rate national currency position size lot profit/loss Brexit United Kingdom European Union GBP Euro GDP WTO swing trading resistance support trend pin bar daily chart scalping high-frequency trading position trading day trading trader’s age investments emotion control losses Take Profit news releases pending orders slippage emotional trading stop orders limits orders Expert Advisor trading robot trading instrument trading session London session Asian session liquidity news release Nonfarm Payrolls economic calendar USD intraday traders price action requote Fed Interest Rates inflation level economic news XAUUSD gold XPTUSD platinum XAGUSD silver USDCNY Chinese Yuan correlation Correlation Matrix instruments trading calculator swap trading hours price level support level resistance level risk-to-reward ratio highs and lows oversold/overbought RSI indicator Fibonacci MetaTrader 4 swings self-trading Forex advantages copy trading money management trading signals trading journal profit level emotions emotions control fear day trader trading routine trading setup position closing timeframe low-frequency trading set and forget end-of-day trading Expert Advisors exit trade auto-trading OCO trading mindset confident trading trading goals japanese candles candlesticks patterns stars doji morning star evening star trading psychology morning routine unusual trading tips useful habits leaving Forex useful tips motivation on Forex demo account starting capital initial investment beginner mistakes trend trading unrealized profit/loss Stop Out IB IB Program partnership IB Commission Sharing Sub-IB deposits withdrawals payment methods payment systems local transactions price levels taxes laws Forex forecasts bitcoin cryptocurrency Russia USA regulations regulators Central Bank Fed quantitative easing quantitative tightening inflation interest rate currency market stock market cryptocurrency market market cycle novice trading dealing with losses professional traders low-hanging fruit stop loss loss long-term goals trade open trade close trade volatility professional trading majors New York session gap order execution US dollar COVID-19 coronavirus lockdown Interbank order pending order Stop order Limit order Standard account Interbank account liquidity provider M5 chart Forex education terminology margin Margin Call bears bulls moving average long position short position buy sell chart highs lows psychological level round numbers Key Levels indicator ECN brokers market makers financial markets indices commodities stock metals figures diamond divergent triangle symmetrical triangle reversal signal triangle expanding triangle investing stocks Forex mutual fund trading style 4-hour chart 1-hour chart intraday trading 15-minute chart Sydney session Tokyo session EUR/USD USD/CAD GBP/USD entry point exit point H1 M15 devaluation IDR LAK export buy/sell bid/ask Metatrader 4 trading platform cross-currency mentor Forex books lot size breakeven pip point entry price EURUSD fears terminal server proxy OS Windows XP trading signal chasing the market clicking the button checklist Forex news news site news portal FXStreet Investing.com Forex Factory ForexLive DailyFX economic indicators Non-Farm Payrolls monetary policy FOMC retail sales interest rates inflation rates confidence bias trailing stop head and shoulders inverted head and shoulders trading figure trading pattern triple bottom triple top risk trading consistent profits trading styles trading sessions major trend trading strategies oversold overbought reverse signals Fibonacci levels European session cross currency GBP/JPY intraday strategy American session M5 Bollinger Bands Donald Trump Joe Biden coins indexes DXY ICO ECB martingale EMA EA weekly chart false breakout breakout strategy Entry order risk to reward ratio base currency quote currency bonuses tradable bonus no deposit bonus deposit bonus cashback trailing Stop EURJPY RSI Overbought/Oversold hammer morning start candlestick pattern Twitter Trump euro Canadian dollar Japanese yen Mexican peso quotes currency pairs China currency wars trade agreement H4 D1 sell trade buy trade trading system teacher mark-up mark-down consolidation distribution uptrend downtrend long positions short positions double bottom double top pattern signal presidential cycle Elliott wave Kondratiev wave Forex terminology quote standard lot mini-lot micro-lot cross pairs exotic pairs counter-currency candlestick chart bar chart line chart range market channel high low ADX OHLC cross-currencies EUR intuition trading robots Forex mentors exotics minors trading patterns wedges pennants triangles breakout trading range trading productivity multitasking range rectangle sideways channel trend figure Alexander Elder John Murphy Jack Schwager limit order reverse pattern rounded bottom rounded top saucer inverse saucer financial intelligence financial education long-term investing Forex scammers money managers million financial literacy budget goal setting demo live live account VPS remote trading mobile trading ethereum tether litecoin oil economic sentiment consumer price losing streak full-time trading start-up capital discipline drawdown currency CHF CAD Great Britain pound Swiss Frank reserve currency perfectionism women in Forex female traders advantages of Forex social trading trades positions size platform non-farm payrolls fed rates decision central banks Chinese yuan flat US Dollar aggressive EAs cent accounts swap-free EA tester trading lot cent account Forex mentor novice trader short timeframe fast trading program installation applications apps EURGBP EURCHF Donald Trump Twitter Mrs. Watanabe beginner trader carry trading young traders women traders continuation pattern overtrading candles currencies CPI Germany market execution instant execution risk control trader’s block PAMM MAM trust management money manager business Forex business VPS server trading volume tick chart pin bar trading inside bar trading hands off breakeven stop loss 50% stop loss Buy Stop Sell Stop Average True Range ATR sideways range price level trading auto-management competitive advantage spike bearish spike bullish spike market psychology japanese candlesticks EUR/AUD AUD Australian Dollar Australia RBA Forex resources Myfxbook useful tools account analysis account monitoring trading analysis self-employed trader Forex traders bullish bearish MA 200 counter-trend trading 1-2% rule greed excessive trading Charles Dow Dow theory primary trend Relative Strength Index signals market noise corrections candle M30 GBPUSD GBPJPY fundamentals USDJPY daily candle Buy Limit Cherry Blossom financial portals bars Doji harami harami cross engulfing belt hold sandwich piercing line dark cloud cover marubozu three black crows upside gap two crows breathing techniques meditation nutrition intermittent fasting self-discipline Three indians initial capital potential profit golden rule enter trade high volatility ascending triangle descending triangle 5 candlesticks signal confirmation loss control reversal patterns Trader’s Cabinet MT4 wedge figure breakout trading discipline pamm mam expert advisors self-education self-study professional education holidays market sentiment Forex myths British pound BoE unemployment rate education disposition effect averaging account types Mini account ECN Copytrade ECN accounts minimum deposit liquidity providers demo accounts real account low-risk trading exotic currencies bid ask shooting star inside bar pinocchio bar stop-hunting false signal Default mode network weekly candle engulfing candle W1 scripts Excel tables equity balance gap trading MetaQuotes iOS Android mobile terminal PPI referral Introducing Broker Japanese candles inverted hammer hanging man abandoned baby spinning top spinning bottom market balance Forex risks trading risks systemic risks technical risks force majeure criminal risks time management partnership program Forex bonuses Forex contests high water mark
trading habits trading strategy trading plan forex trading forex mistakes broker profit trading instruments pairs price advantages of forex leverage FXCL Forex trading daily charts charts risk management demo trading trading history beginners novice traders account type cent trading Mini Micro Cent Partnership commission fees trading terms spread fundamental analysis technical analysis Stop Loss news trading economical calendar indicators market analysis major news release currency pair currency rate national currency position size lot profit/loss Brexit United Kingdom European Union GBP Euro GDP WTO swing trading resistance support trend pin bar daily chart scalping high-frequency trading position trading day trading trader’s age investments emotion control losses Take Profit news releases pending orders slippage emotional trading stop orders limits orders Expert Advisor trading robot trading instrument trading session London session Asian session liquidity news release Nonfarm Payrolls economic calendar USD intraday traders price action requote Fed Interest Rates inflation level economic news XAUUSD gold XPTUSD platinum XAGUSD silver USDCNY Chinese Yuan correlation Correlation Matrix instruments trading calculator swap trading hours price level support level resistance level risk-to-reward ratio highs and lows oversold/overbought RSI indicator Fibonacci MetaTrader 4 swings self-trading Forex advantages copy trading money management trading signals trading journal profit level emotions emotions control fear day trader trading routine trading setup position closing timeframe low-frequency trading set and forget end-of-day trading Expert Advisors exit trade auto-trading OCO trading mindset confident trading trading goals japanese candles candlesticks patterns stars doji morning star evening star trading psychology morning routine unusual trading tips useful habits leaving Forex useful tips motivation on Forex demo account starting capital initial investment beginner mistakes trend trading unrealized profit/loss Stop Out IB IB Program partnership IB Commission Sharing Sub-IB deposits withdrawals payment methods payment systems local transactions price levels taxes laws Forex forecasts bitcoin cryptocurrency Russia USA regulations regulators Central Bank Fed quantitative easing quantitative tightening inflation interest rate currency market stock market cryptocurrency market market cycle novice trading dealing with losses professional traders low-hanging fruit stop loss loss long-term goals trade open trade close trade volatility professional trading majors New York session gap order execution US dollar COVID-19 coronavirus lockdown Interbank order pending order Stop order Limit order Standard account Interbank account liquidity provider M5 chart Forex education terminology margin Margin Call bears bulls moving average long position short position buy sell chart highs lows psychological level round numbers Key Levels indicator ECN brokers market makers financial markets indices commodities stock metals figures diamond divergent triangle symmetrical triangle reversal signal triangle expanding triangle investing stocks Forex mutual fund trading style 4-hour chart 1-hour chart intraday trading 15-minute chart Sydney session Tokyo session EUR/USD USD/CAD GBP/USD entry point exit point H1 M15 devaluation IDR LAK export buy/sell bid/ask Metatrader 4 trading platform cross-currency mentor Forex books lot size breakeven pip point entry price EURUSD fears terminal server proxy OS Windows XP trading signal chasing the market clicking the button checklist Forex news news site news portal FXStreet Investing.com Forex Factory ForexLive DailyFX economic indicators Non-Farm Payrolls monetary policy FOMC retail sales interest rates inflation rates confidence bias trailing stop head and shoulders inverted head and shoulders trading figure trading pattern triple bottom triple top risk trading consistent profits trading styles trading sessions major trend trading strategies oversold overbought reverse signals Fibonacci levels European session cross currency GBP/JPY intraday strategy American session M5 Bollinger Bands Donald Trump Joe Biden coins indexes DXY ICO ECB martingale EMA EA weekly chart false breakout breakout strategy Entry order risk to reward ratio base currency quote currency bonuses tradable bonus no deposit bonus deposit bonus cashback trailing Stop EURJPY RSI Overbought/Oversold hammer morning start candlestick pattern Twitter Trump euro Canadian dollar Japanese yen Mexican peso quotes currency pairs China currency wars trade agreement H4 D1 sell trade buy trade trading system teacher mark-up mark-down consolidation distribution uptrend downtrend long positions short positions double bottom double top pattern signal presidential cycle Elliott wave Kondratiev wave Forex terminology quote standard lot mini-lot micro-lot cross pairs exotic pairs counter-currency candlestick chart bar chart line chart range market channel high low ADX OHLC cross-currencies EUR intuition trading robots Forex mentors exotics minors trading patterns wedges pennants triangles breakout trading range trading productivity multitasking range rectangle sideways channel trend figure Alexander Elder John Murphy Jack Schwager limit order reverse pattern rounded bottom rounded top saucer inverse saucer financial intelligence financial education long-term investing Forex scammers money managers million financial literacy budget goal setting demo live live account VPS remote trading mobile trading ethereum tether litecoin oil economic sentiment consumer price losing streak full-time trading start-up capital discipline drawdown currency CHF CAD Great Britain pound Swiss Frank reserve currency perfectionism women in Forex female traders advantages of Forex social trading trades positions size platform non-farm payrolls fed rates decision central banks Chinese yuan flat US Dollar aggressive EAs cent accounts swap-free EA tester trading lot cent account Forex mentor novice trader short timeframe fast trading program installation applications apps EURGBP EURCHF Donald Trump Twitter Mrs. Watanabe beginner trader carry trading young traders women traders continuation pattern overtrading candles currencies CPI Germany market execution instant execution risk control trader’s block PAMM MAM trust management money manager business Forex business VPS server trading volume tick chart pin bar trading inside bar trading hands off breakeven stop loss 50% stop loss Buy Stop Sell Stop Average True Range ATR sideways range price level trading auto-management competitive advantage spike bearish spike bullish spike market psychology japanese candlesticks EUR/AUD AUD Australian Dollar Australia RBA Forex resources Myfxbook useful tools account analysis account monitoring trading analysis self-employed trader Forex traders bullish bearish MA 200 counter-trend trading 1-2% rule greed excessive trading Charles Dow Dow theory primary trend Relative Strength Index signals market noise corrections candle M30 GBPUSD GBPJPY fundamentals USDJPY daily candle Buy Limit Cherry Blossom financial portals bars Doji harami harami cross engulfing belt hold sandwich piercing line dark cloud cover marubozu three black crows upside gap two crows breathing techniques meditation nutrition intermittent fasting self-discipline Three indians initial capital potential profit golden rule enter trade high volatility ascending triangle descending triangle 5 candlesticks signal confirmation loss control reversal patterns Trader’s Cabinet MT4 wedge figure breakout trading discipline pamm mam expert advisors self-education self-study professional education holidays market sentiment Forex myths British pound BoE unemployment rate education disposition effect averaging account types Mini account ECN Copytrade ECN accounts minimum deposit liquidity providers demo accounts real account low-risk trading exotic currencies bid ask shooting star inside bar pinocchio bar stop-hunting false signal Default mode network weekly candle engulfing candle W1 scripts Excel tables equity balance gap trading MetaQuotes iOS Android mobile terminal PPI referral Introducing Broker Japanese candles inverted hammer hanging man abandoned baby spinning top spinning bottom market balance Forex risks trading risks systemic risks technical risks force majeure criminal risks time management partnership program Forex bonuses Forex contests high water mark