In a time when people are increasingly looking for ways to earn money from home by using techniques that they can train themselves to apply, trading forex is once again in the spotlight. While starting to trade forex isn't huge in the way of education or investment, being a successful trader generally requires time, knowledge and dedication.
Learn more about how to start your career in trading forex.
How Much Money Do You Need to Start Trading?
One of the best things when it comes to being involved in forex trading online as retail trader is that you are able to create an online trading account for just $1 according to the broker you choose. It's unlikely that you'll get far in trading currencies with this small sum but you could at least begin by establishing yourself and create an account with a broker that you can fund the account as risk capital becomes accessible to you.
It is also possible to begin trading with demo accounts that are funded using virtual cash. The demo account will not cost anything to open and will require minimal setup time, and you are not at risk of losing your real money as you learn how to utilize the trading platform of your broker.
If you are a resident of the United States, then another benefit of Forex trading at retail is the fact that it allows you to legally be day trader, with only a small initial investment. However, there is a requirement that the U.S. Securities and Exchange Commission (SEC) has an obligation for stock brokers to make a minimum deposit of $25,000 into their stockbroking accounts in order to be permitted to trade on a day basis.
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