Welcome, Jack.
There isn’t a right answer.
Everyone has different financial affordability and degrees of risk aversion/acceptance.
The minimum you need to trade 0.01 lots safely and steadily is generally regarded as $250 (some people say $300, but that’s in the same ballpark).
There are comments about this throughout the forum. Here’s one from yesterday.
It’s very important to have realistic expectations. The proportion of forex trader beginners who ever get as far as earning 5% profit per month on their trading funds is terribly small: one of the world’s leading regulators says it’s below 1%, although people in trading forums don’t like hearing that and some even refuse to believe it (which is just silly, IMO). ![]()