Forex Trading is not Expensive but The Most Accessible of all Financial Markets

Is Forex trading expensive?….
Expensive in what terms? There aren’t many direct costs to Forex, unlike buying a car or something…

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From the point resources, all you would need a computer and an internet connection (which you probably have, already).

Training and learning which can range from free (of the internet) to expensive seminars and workshops.

Start up capital – that depends on you broker. Some require a minimum of 1000 USD to open an account, some you can trade with 1 USD.

Spread – This is probably the only real cost you that can be associated directly with Forex Trading. There are a lot of brokers and trading desks out there, some have really big spreads. Again it depends on the broker and the currency pairs. If you are a long term trader, it wouldnt matter much. But for a day trader, it would be a very important cost.

No matter what you are led to believe, Forex Trading is inherently risky. If you want to put a price on the risk, it is very expensive. You could potentially lose everything. But otherwise, you could start trading right now with as little as 10-25 USD. Its another matter if you can turn a profit from that!

Honestly speaking Forex trading is the cheapest for of trading you can undertake. Stocks cost quite a bit to trade in fees. Futures are not as expensive but not for beginners.

Forex is very easy to trade but I however recommend you get some descent education before trading. The average cost of FX trading is relatively small but can be expensive if you are losing a lot of money or with a broker that has heavy charges.

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One thought on “Forex Trading is not Expensive but The Most Accessible of all Financial Markets”

Forex trading is not expensive at all. The biggest mistake that most new traders make is they start trading live with a big deposit something like $1K to $5K.

Why they do it? Brokers pester them with emails offering 100% bonus on a big deposit. So they take the bait and deposit their hard earned money. Soon they lose almost all that money.

If you a new trader, you should start with only a deposit of $200.

First build the skill of forex trading and learn how to win the trades. Make a trading plan and try to double this $200 into $400. Once you have achieved that double this $400 into $800 and then double $800 into $1600.

This is how you should trade.

Do not make the mistake of starting with a deposit of $1K or $5K when you are new and don’t have the skills to survive the market.