It has two factors,you and your broker.Some brokers offer a minimum of $5 to start with as other $20 an the rest,essential you can go ahead with the minimum deposit offered by your broker as a trial and practical ground,from there if you are more comfortable you can opt to deposit more,buy more lots and start trading effectively
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300$ to 500$ is the perfect and ideal amount to start forex trading, it is because that strong capital is the key to get success and we should do forex with big investment in order to earn big profit.
I agree with you, in Asian countries, it is a good amount for trades to start with. Afterwards if a trader is getting good in his performance, then he can increase the trading amount.
I think that for a starting Deposits an amount of $100 is good but if we are looking for getting more income from our trades then a minimum investments of $500 would be required.
For newbies better start on small amount of money for them to just try if their ability if it will work
This is only ideal if your intent is to learn to trade and you use cent account to trade this amount. Otherwise, youβll get wiped out quickly.
Boss,
You sound like a articled trader like me and the most important thing for now is to learn the tricks of FX markets and trading. I myself would be depositing $200 next week with my broker just to get over the psychology of trading in real money. Win or lose its fine , its going to be a learning curve for me.
I suggest take that $250 and use it as a measure of how far you have gone as a trader and then you take it from there. If you are good the you can start stressing about the size of your capital base.
I think more than $100 is preferable to start trading in Forex if you can afford more than this amount you are good to go with Forex trading. But it is better that you should try this amount with demo work so that you can have an idea what investment is preferable to you.
Depends upon your broker as well. In my case i use market profile indicator and spreads plays an important role this strategy. If brokers are using large spreads then chances are there that most of the time i would hit my SL