How much does it cost to start trading forex.

Exchange trading used to require large investments; trading was carried out only through special representatives who had accreditation and special equipment worth tens of thousands of dollars.

Currently, this process has been simplified thanks to the development of electronic networks and the reduction in cost of computer equipment.

But still, in order to trade Forex, a certain amount of funds is required. How much does it cost to start trading Forex?

1. Equipment – ​​an inexpensive personal computer on which you listen to music and watch movies is quite sufficient.

One option could be a laptop or tablet. The minimum cost of a computer, mouse, keyboard and monitor for working on Forex is only $400-500. Recommended requirements for this equipment are given in the material “ Computer for Forex ”.

But most often, a novice trader already has similar equipment.

2. Network – Internet connection from 1 megabit per second, the fee for such a connection will cost no more than 10-15 dollars per month, depending on the provider and the region where you are located.

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

3. Software - the main program “ Trader's Terminal ” is provided by any broker absolutely free of charge.

But if you want to use an automatic trading terminal or receive signals to open positions, then a subscription in this case will cost 50 US dollars or more. A separate discussion concerns Forex advisors who independently conduct profitable trading.

Their prices start at $500, and there are also more expensive options. But it’s better to spend this money on trading itself and initial training in stock trading. 4. Deposit – there are practically no restrictions here; you can trade with amounts starting from a few dollars.

But it is unlikely that you will be able to earn a significant profit. The recommended deposit size for Forex is from $1000, you can earn money with less money, but you will have to use a large leverage, which significantly increases the risk of trading.

It is the amount of $1,000 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 novice trader, it is enough to have a computer and the Internet + $100 to practice on cent accounts.

• To make money using a scalping strategy – everything is the same as in the first case + $500.

• For a professional using quiet trading, the minimum deposit amount starts from $5,000.

It is clear that all the given figures are quite relative, successful scalpers earn 100 percent or more monthly, and the amount of earnings of ordinary day traders rarely exceeds 20%.