If you are considering investing in Forex trading, you may be asking yourself how much you should be thinking of starting with. This may actually not be the very first thing you need to consider if you are preparing to go into Forex trading.

I personally think the first thing you should consider is your goal or the reason you want to go into Forex trading in the first place. If you can answer this question, you will be in a better position to answer any other question that may arise.

However, to address the issue of how much you need to start with if you are new to Forex trading. For me, the answer is NOTHING!

Surprised? Well, Forex trading is a high risk investment that can wipe you out in a very short while if you do not know what you are doing. This is why most brokers offer what is called a practice of demo account.

With a demo account, you can simulate trades without spending any of your own cash. Actually, you are not spending anybody’s cash and you are not making any real profits or losses. Everything is imaginary but based on real life market realities.

This gives the opportunity to understand in practical terms what exactly trading in the Forex market entails. You use this demo period to try out and understand your strategies. It also gives you a good opportunity to fully understand that layout of the platform you intend to trade on.

Like someone said, you do not want to be hitting the wrong button at a critical time. This could be the difference between a profit and a loss.

At some point however, you will need to go live with your trading. Believe me, no amount of demo trading can equal the feel of real trading. The reason is simple; you are now using your money, and can lose it very easily.

So, if at the stage you were to ask how much you should consider starting with, I will not say nothing, but I will tell you to start with an amount you can afford to lose without feeling too bad.

Regardless of what your goal is, I will give you this same advice. Don’t start with an amount you can’t afford to lose. Sadly, a lot of people come into Forex trading with the idea that it will suddenly make them very rich. Many of these end up running away from Forex trading with heavy losses.

Hey! I have not said that you cannot get rich through Forex trading. It however is something that requires some very in-depth knowledge of the market. This you cannot achieve on your first day of trading.

So, it is better to start small so you can learn and not be too scared of losing your life’s savings.

That said, you actually have to be learning. Learning is not just a function of trading. Are you learning from any experienced trader? Are there materials you are constantly referencing? If all you are doing is just trading, you may just be making the learning curve too steep for yourself. This will also likely result in losses for you.

One more thing that is important in your Forex trading journey is the broker you work with. First, you must choose a reliable broker. Interestingly, the broker you choose will also determine the minimum you can start trading with.

There are a lot of things to consider when choosing a broker but that is not for this article. We will look at that in another article.
Personally, one broker I trust is https://lionsfx.com/. There are other reliable ones out there. Choose one and don’t forget to start trading with a demo account until you are sure you are ready to go live. Even then, start with something you can afford to lose.

Unless it's bank or aboki type, leveraged speculative forex trading is gambling. Even Betnaija has better odds. Anyone trading forex should only invest money he/she can lose. It's not a job or career. The only surely profitable forex is Aboki type, BDC or Bank/financial institutions.