How much needed for a live account

[mystic707]

how much is needed to open a live account? would $300 be a decent amount or should i go higher. thanks.

[justshell]

it depends on how skilled you are, I mean you can trade a $300 account as long as you have your risk management plan set up for it. But, if you’ve been practicing and doing well on demo then you can start with a $500 - $1,000 account. Anything lower than 300 makes no sense to me. That’s just my opinion though

[nu_bee]

$300 is good enough, use only 0.01 lot size until you’re making consistent profits then you can increase your lot size according to your money management plans.

[AndyCruise]

As much as you can afford to lose. Reading the broker’s TOS will revel the same thing, I believe.

[J_C_Anderson]

It depends on your income and savings. In general, for the first time you should not risk more than you can afford to lose. The risks for non-professional trader are extremely high, so it is important to reduce possible losses. Then, when you will be familiar with money management rule, you will be able to grow your account.
At the same time,it would be better to start trading using real account only being consistently profitable on demo.