Should I start a forex account with $250?

Question

Should I start a forex account with $250? Will I make any money with such little capitol or just end up losing it all?

Answer 1

Many forex brokers allow you to start with very little money. Keep in mind, however, that you really don't want to leverage yourself much in the beginning, and one mini contract is 10K. One regular contract is 100K. Generally you want to use 50 to 1 or less in the beginning. Of course, some brokers will give you massive amounts of leverage, 250 to 1 or more, but in this case it becomes almost impossible to practice proper risk control. I would suggest doing a quick search on foreign exchange on yahoo or google. Some brokers will allow you to trade less than 1 mini, right down to 1 dollar, which you wont make much or lose much either, but you will still learn the game. Shop around and compare the difference between dealing and non dealing desks as well.

If its just play money, then go for it. If not, then I would suggest getting a lot more capital as the reader above suggested. Forex is a pure speculative market, a zero-sum game, and, as any financial market, it is dominated by professionals who have in many cases dedicated their lives to trading. Have fun.

Answer 2

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Answer 3

I would strongly advise against starting a serious Forex trading plan which such a small amount. The odds are that you will lose it.

The best way to make money in the Forex market is to simply continue trading with demo accounts and learn everything you can until you can accumulate a larger investment account.

If you want to be serious in the Forex market place I would suggest a minimum of $2500.

Answer 4

You could, but it isn't recommended. Part of trading is a properly funded account. Typically you never want to risk more than 10% at a time which would mean you would be trading with practically nothing. Also, there is a very high chance that you'll just blow up. Half it will go to commissions. Also, if you trade on some platforms that have a dealing desk, they could work orders agains you knowing that your acct. only has $250. Which leads to another topic, do your research when picking a platform.

Answer 5

Take the money and buy books on Forex trading. I can send you some suggestions (if you want). Don't just try out FX. Learn as much as you can. Read & paper trade for at least six months. Don't allow good results in paper trading to fool you.... start out very slowly (after 6 months or more).

95% of the people that try FX trading fail. It takes a lot of time to learn the Fundementals & Technical (charts) apects.
even with both these skills you'll have to have good money management skills to make money. Look for at least a 2 to 1 risk reward ratio. 3 to 1 is much better (but much harder).

You must have tartgets & exit stradagies before you make any trade. If you view this as somewhat gambling... or a way to make a big "killing"..... don't bother.

Answer 6

If you're unsure about how you made that much money, chances are that it's due to luck. A good piece of advice is to keep on demo trading for at least 3 months to gauge your profit consistency. If after 3 months you're still doing well, you might consider starting a live mini (or micro) account to trade with. Hope this helps!

Answer 7

the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

Answer 8

You can't succed in binary trading without a strategy, a good method to follow and some kind of software support. They program I use is called "Autobinary signals". It helps finding loopholes for guaranteed returns. It's very easy to use and I'm earning good money. You find all the details on this site: http://tradingsignal.toptips.org

Answer 9

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Answer 10

Hi,

Well, you could start you forex trading with $250 but I think that it is condemned. Because at the beginning you would have bad trades inevitably and if it would be several bad trades in range then you lose your trading capital.

I think that optimum amount for starting is $5000-$10000. and trade with mini lots at the beginning.

I could introduce you to one of forex broker leaders that is located in SWITZERLAND and Regulated by the Swiss Federal Department of Finance; audited by KPMG.
They have very tight spreads. Total 25 currency pairs Gold and Silver.
SPREADS:
2 pips for EURUSD, USDJPY, AUDUSD, EURGBP, EURCHF;
3 pips for GBPUSD, USDCHF, USDCAD, EURJPY;
4 pips for CADJPY, CHFJPY;
5 pips for NZDUSD, AUDJPY;
6 pips for EURAUD, GBPCHF, NZDJPY;
7 pips for EURCAD, GBPJPY;
8 pips for GBPCAD, GBPAUD, AUDCHF, CADCHF, NZDCHF;
10 pips for AUDCAD, AUDNZD.

LEVERAGE 1:200 default but client could chose the leverage from 1:1 to 1:200 at the account opening procedure.

MARGINS. The margin or leverage a client can have depends on the client's account equity. The table below shows margin requirements for the different equity levels:
Less than 25,000 - 0.5%
25,000 to 1,000,000 - 1%
1,000,000 to 5,000,000 - 2%
5,000,000 to 10,000,000 - 3%
Above 10,000,000 - 5%
Please note that on weekends and holidays margin requirements remains the same.

SWAPS are counted as negative as positive. Also is available swap-free accounts.

STOP and LIMIT orders may be placed as close as 5 pips from market price

TRADING TERMINAL Meta Trader 4.

Clients can choose to have their accounts denominated in either USD, EUR, GBP, JPY, CHF, AUD or CAD.

Initial account opening deposit from US$2000. From first view it probably looks high comparing with other brokers who allow mini accounts and minimum initial deposit from USD250 but it is more useful and safer because clients are more protected from quick stop out and total loss of the initial deposit in the case if unfortunately it would be several unlucky trades in rage.
This is regular forex trading account however it is allowed trading in mini lots (from 0.1 lot).

If you are interesting I could introduce you to them please e-mail or PM me (press on my name) and I provide you with further information. Furthermore I could provide you for FREE with more than 50 trading e-books and trading systems that worth more than several thousand dollars and are very useful as for beginners as for experienced traders.

Good luck!