Trading currency in the foreign exchange market is quite easy today with three types of accounts designed for retail investors: standard lots, mini lots and micro-lots. Can start with an initial micro account and up to $ 50.
Before you start jumping in, you should familiarize yourself with the market and terminology of the forex market, and if you are already trading stocks online, it should be easy to get started.
Wouldn’t it be better to use a demo account first?
Before starting real trade you should do some demo trade just for the success. On the other hand you will get a proper idea how to do real trade. So by this your success rate will gain.
Ther are brokers which do allow even less of accounts with them anyway. For example you can even start with something like $10 or so and probably even $5, but that doesn’t matter like it was said already please make it somewhat like demo first.
There are very big fluctuations in the market now. I don’t think it’s a good time to start trading. We need a good mentor around.
Obviously, It is better to learn from demo account first.
Yes, demo is very important before live trading, but then I think the real feel of trading comes only when you risk your funds, without that one cannot know that heat and pressure of this field. So for me, demo is just a tool to familiarize oneself with the platform.
Forex is an interesting market. He teaches a lot.
Like everyone else said, it is good if you start it off with demo account and get your head cleared up with variables along with risk management and money management.