For investors who want to enter the foreign exchange market, there will be such questions in their minds. It is how much money does it cost to speculate in foreign exchange? How much does it cost to open a foreign exchange account? Basic foreign exchange knowledge includes the conditions for opening a foreign exchange account. Today, the author will introduce how much money is needed to speculate in foreign exchange for those who want to enter the foreign exchange market.
How much money does it cost to speculate in foreign exchange? In foreign exchange knowledge, this question includes account opening funds and deposits. Faced with such a problem, the first thing you think of is: Is the more money the better? Of course not, when the funds are too large, it is easy to lose money, especially for novices. In the following, the author will answer the above questions from two aspects.
First, how much money does it cost to open a foreign exchange account
Foreign exchange should be integrated into our life. How much does it cost to open a foreign exchange account? Opening a foreign exchange account does not require any funds, but you only need to fill in the account opening application form and submit a scanned copy of your personal certificate. The amount of foreign exchange mentioned here is actually the amount of deposit.
It is determined according to the platform you choose, and the regulations stipulated by each agent are also different. For example, the minimum account opening of FXSOL is 250 US dollars, which is equivalent to about 1550 yuan in RMB, and the highest is 400 US dollars; the minimum of FXCM is 300 yuan. If it is opened on the official website, it will cost 2,000 US dollars. In contrast, for investors, it is more cost-effective to find a formal agent to open an account. It has technical indicators and can be worry-free. The minimum transaction is 0.01 lots.
Second, how to choose a foreign exchange trading platform
The choice of platform can also affect the question of how much money is needed for foreign exchange speculation. In terms of platform selection, because domestic foreign exchange platforms are used abroad, in order to ensure the safety of funds, we need a regulatory platform. This is a point that foreign exchange speculators need to pay attention to, looking for a platform with supervision to ensure the safety of funds. Of course, the choice of foreign exchange trading platform will affect the issue of deposit.
Generally speaking, a principal of 2,000 US dollars is a very good starting choice. Of course, there are some platforms that allow you to do some mini exercises at first. It can be practiced. Of course, this can affect your profit. How much you buy at one time depends on your principal. For beginners, it is best to practice with a small amount of money first, and target one currency, so that you can make profits in continuous trading.
I believe that at this point, everyone is no longer confused about how much money is needed to speculate in foreign exchange. As an investor who is new to speculating in foreign exchange, the author believes that: beginners should make contact with small funds, and don’t be discouraged if they fail, to summarize in the transaction, to constantly adapt to the transaction, to master skills and form their own style, in order to make themselves better Nice profit.
