This refers to the amount of money required in your trading account in order to open a position

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This refers to the amount of money required in your trading account in order to open a position. For instance, if you want to open a $300,000 position, $3,000 of funds on deposit is required for a 1% margin. Some Forex brokers may require as low as $50 to open an account and begin trading. Bear in mind, the greater the deposit the lower the impact on your trading account in the event of losses.


Step 3 - Demo trade first If you wish to become a trader and achieve regular success from your trades, it is always advised to demo trade first. This gives you the opportunity to develop your trading strategy, practice it relentlessly, and ghana business email list increase your trading confidence. This is also the ideal time to familiarise yourself with the trading platform and locate everything with ease. Demo trading also allows you to experience what it’s like to lose money from trading and gain a better idea of how you might react when it comes to trading live.


You will learn how it feels to experience losses and will have the opportunity to put your risk management strategy into action. The demo trading period should not be rushed. Traders should trade on a demo account for a significant time and make sure they get steady profit. As tempting as it is to begin live trading right away, taking the time to practice on a demo can really pays off.