Forex - Start small or big?

Salam to All,

Start (your account) small or big? Hmmm.. I get this question a lot from my friends who are interested in forex and can’t wait to get it on.

Well, it truly depends on your preference and affordability. But the best of all, nowadays we have plenty of brokers who are willing to accept just a small amount of money to allow you to open a trading account with them. Unlike years ago, where you need to fork up USD100K to open a full size account, online broker nowadays allows traders to open up mini accounts and start trading for as little as USD5.

Personally, I have opened and account with Marketiva , free registration and was given USD5 in the account for me to get started.

I have also opened an account with NorthFinance, a broker that allow the use of Metatrader4 as trading platform with USD300 as a starting account which I think is appropriate for a beginner like myself at that time.

Another broker that I think worth to mention is FXOpen also a Metatrader4 based platform broker that allows you to have initial deposit for as low as USD1 for Micro account and USD25 for Standard account.

Or the best thing yet, if you like to have a feel of what forex is all about, just register for a demo account with any of the broker above (no commitments what so ever) and have your account deposited with as much as USD100K (virtual money only ok, what do you expect?? haha) and you can start doubling (or blowing) your demo forex trading account in no time.

Regardless of that my advice to you all is, what ever or how ever big (or small) your trading account is, never ever risk more than you can lose, set your leverage and margin right and trade sanely with clear and defined strategies.

While small sized account enables you to start trading at no time, larger size accounts say USD1K (with a proper leverage and margin set) enables your trade to have more room to breath, you can have larger (not too tight) stop loss and etc. allowing you to trade with less pressure than trading with smaller account and small margin.

With so much options that you have, just make you choice, and be wise with it.

p/s:
Hmm I was digging around for my old files earlier and found these Marketiva Handbook that I made few months back. I guess I’ll have it for you guys to download and read it just for fun.
You can find the download links below. Happy reading ya!

Marketiva Simple Handbook (English)
Panduan Mudah Marketiva (Bahasa Melayu)

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