How Much Money Do You Need?

This is the wonderful question that you are probably thinking of. How much money do I need to get started? In this section, I will explain the different types of accounts available and exactly how much money you need to get started.

There are 2 types of accounts to get started. A mini account and a standard account.

Mini Accounts may have a minimum requirement of $250 to $500 to get started. This type of account is for people who are new to Forex and don't want to risk a lot of money in the beginning stages. A mini account will generally have a max of about $50,000.

Standard accounts may have a minimum requirement of $2,500. This type of account is for your average investor. A standard account will generally have no max limitations.

You can start with as little as $250. Bear in mind that your trades will be very small (micro lots) and it will take you a longer time to obtain profits. Only start off with what you can afford to lose. That is always your rule of thumb. Do not invest with your mortgage payment or rent check!

If you have $2,500, you can open up with a standard account. There is no right or wrong answer. It all depends on how much money you can afford to lose without interrupting your personal life.

I personally started with $1,980 and I own a mini account.