What is the minimum deposit for beginners?

Hello everyone, i’m learning about forex. I have a small question : what is the minimum deposit for beginners at first time ?

Your maximum deposit should be, DEMO account. Until you have a system that is winning and have control of your money management. Then you can open a micro account with about $100. When you feel like you can control your emotions then open an accout with some real money.

what i advise you is to open an account with 500$ or a sum that will HURT a bit, but not that much. you will lose that money, i guarantee you, but you will learn a heck of a lot from the experience. trust me, i know :wink:
F*** demo trading, it deosn’t compare do the real thing. if you want to try out a system first, sure, use demo, get aqcuainted with it, then trade it on very very small lots to see if it works live also. why ? because live your emotions come into play and your emotion most often than not will cloude your judgement. believe me, i know.
if you are profitable in demo trading, that doesn’t mean for 1 second that you will be profitable live. please, trust me on this one. the best way to learn is by doing it live with money(money you can afford to lose)

bicpetrisor, I think your idea is crazy. If you want to lose $500 so bad then I can give you my address and you can just mail it to me. Demo trading does not work for you because you did not treat your demo account like it was real money. When you demo trade say to yourself “this is MY money” ask yourself “would I do this when I go live?” and when you go live say to yourself “this is money I don’t have!” I say that because it will take the emotion out of the trade.

You are right on being profitable on demo doesn’t mean you will be live. But if you cannot pull a profit in demo then you surly will not pull a profit in a live account.

Yes I blew my first live account. And all I learned was that I did not have a good plan and that I needed to do more demo trading.

The way I see it is you should demo for 3-12 months maybe more. Then move to a micro account. Start off with $100 add $25 a week and slowly add more.

You have to demo with a platform first and learn how to place trades properly and use the tools they have for you technical analysis (if you do any)

You can then decide to start with $500 and trade micro lots (I will not really advice $100). With micro lots you don’t win or lose much and it might prick you emotions a little which is needed…

Like the guy from Trading Academy put’s it “Trading is the most stressful job next to disarming a bomb”:slight_smile:

This is the nice middle of the road between bicpetrisor and bazooko. Use the demo to learn the mechanics and to test out new strategies, then get to live trading as quickly as possible with a small amount, but enough for it to hurt a bit when you lose.

Trading is the most stressful job next to disarming a bomb" :slight_smile:

I like this. :smiley: :smiley:

As a relative newbie, I’ve done a fair amount of demo trading. However, I didn’t trade with my full demo balance.

What I mean is that I only used the amount I knew I would eventually deposit for a live account, traded appropriate lot sizes, and tracked my progress, ignoring the $10,000 or $50,000 my demo gave me.

Having said that, I found a HUGE difference when I went live.

Even though I felt like my demoing was real because I limited myself to my actual deposit amount, it was a lot scarier when my real money was on the line. Not to mention that things didn’t go nearly as smoothly with the system I used for demoing.

I recommend demoing for the benefit of getting a feel for the software, understanding how to place various order types, seeing how the market moves, etc.

But, after getting a feel for things, I would also now recommend taking a few dollars and opening a live account to trade micro lots. While 10 cents a pip may not sound like much (and I used to scoff at it, too), it does make things more real, and it gives you a sense of accomplishment when you make profits, even small ones.

It also gives you a chance to test out your system in the real market, as demos tend to show the market a little differently than it really is.

Open your live account with as much money as you can afford to lose (remembering not to take it from essentials like food or rent), but don’t get caught up in the argument that you need $5,000 to $10,000 to get started. That’s why micro lot accounts are so good, because they let you get started with much less than you would be able to normally, yet still make profits.


different people, different advices, I’d also recommend opening a real account with as much money as not to lose it all after just 2-3 trades. Remember the actual amount of money is only relative so if you can make money with micro lots, standard lots will give you exact same results only bigger.

That’s an excellent point.

I always dismissed micro lots as too small to interest me. However, now I can see their advantage. You can test out different systems with minimal losses to make sure everything works smoothly. Then, when things are consistently profitable, you can move to mini or standard lots as your finances permit.