How much does it cost to start trading forex.

Exchange trading used to require significant investment, and trading was conducted only through authorized representatives with specialized equipment costing tens of thousands of dollars.

Today, this process has been simplified thanks to the development of electronic networks and cheaper computer equipment. However, forex trading still requires a certain amount of capital.

How much does it cost to start forex trading?

1. Equipment – ​​an inexpensive personal computer for listening to music and watching movies is sufficient. A laptop or tablet is another option.

The minimum cost of a computer, mouse, keyboard, and monitor for Forex trading is only $400-500. Recommended hardware requirements are provided in the article " Forex Computer ."

However, most beginning traders already have this equipment.

2. Network – an internet connection with at least 1 megabit per second; this connection costs no more than $10-15 per month, depending on your provider and region.

If you are reading this article, you already have such a connection.

3. Software – the basic " Trader Terminal " program is provided by any broker absolutely free of charge. However, if you want to use an automated trading terminal or receive position opening signals, a subscription will cost $50 or more.

Forex advisors, which independently conduct profitable trading, are a separate topic. Prices for them start from 500 dollars, there are also more expensive options. But it is better to spend this money on the trading itself and basic training in stock trading.

4. Deposit - there are practically no restrictions here, you can trade with an amount of just a few dollars. But it is unlikely that you will be able to make a significant profit.

The recommended deposit size on Forex is from 1000 dollars, you can earn with less money, but you will have to use a lot of leverage, which significantly increases the risk of trading.

It is the amount of 1000 dollars that allows you to open an account with attractive trading conditions and advanced functionality.

To summarize the above, we end up with three options:

• For a beginner trader, it is quite enough to have a computer and the Internet + 100 dollars for training on cent accounts.

• To earn money using a scalping strategy - everything is the same as in the first case + 500 dollars.

• For a professional using calm trading, the minimum deposit amount starts from 5000 dollars.

It's clear that all the figures given are quite relative; successful scalpers earn 100% or more monthly, while the earnings of ordinary day traders rarely exceed 20%.