This may be w stupid question but if I put a small amount into my account eg. £500 would I be able to do small trades like 0.01 or would I have to borrow money from my broker?
Thanks and sorry if it’s stupid
That enough money is enough for 0.01 lot size.
You do not need to borrow anything from the broker.
You do not borrow anything from broker in Forex.
If you mean by borrowing money as a leverage, you do not need to worry about that.
You do not pay anything to broker for using the leverage.
Use the leverage what he is offering to you, 1:30-1:50 is enough for you, and start trading.
Thanks soo much. This general knowledge of forex makes me soo satisfied. Just working with a demo until I’m fully convinced I’ll be happy with my outcomes when it comes to live trade
Thanks again
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