How much investment is needed to trade Forex?
At “XM” you can open accounts from $ 5. It is a recommended broker on our site.
Often, among many of the FOREX trading companies that require $ 100, $ 500 or more, XM can minimize the risk at the lowest deposit fees in the FOREX market.
How to deposit?
To deposit into FOREX trading company, other than credit card, you can use Visa Debit card or bank transfer.
The recommended deposit method is to use a Visa Debit card.
It is possible to pay by credit card, similar to paying bank account savings, which anyone can do right away without being checked for their income or occupation.
Furthermore, Visa Debit Cards differ from credit cards that it doesn’t pay a high interest rate, so it can minimize the risk.
In Vietnam, you can make a card at any major bank.
How much capital is needed?
For actual transaction you need to calculate the amount of currency units to trade.
For example, “sell 10,000 currency units”.It’s called currency unit. Currency unit is the currency of the country.
In FOREX, usually one pair is displayed with two opposite currencies, such as “EUR / USD”, “AUD / USD”, “USD / JPY.” This is called “currency pair”, the currency displayed on the left is the base currency.
In the case of EUR/USD, 1EUR= ◯◯ USD
In the case of AUD/USD, 1AUD= ◯◯ USD
In the case of USD/JPY, 1USD= ◯◯JPY
If you want to exchange (trade) 10,000 EUR in the bank, you will not be able to exchange if you don’t have 10,000EUR (260,000,000VND). Such a large sum is not easy to prepare.
However,in FOREX, you can trade hundreds of times than what you have using leverage.
For example, if you use a leverage of 600:1, equal to 10,000EUR ÷ 600 = 17EUR (about 450,000VND) you will be able to trade 10,000EUR.
How much can you earn?
Example of real trading screen
Now, let’s take a look at the example in the case of a transaction with 10,000 currency.
As a trading example,by selling 10000 EUR/USD (sell at 1.16, buy at 1.152) you can improve profitability.
0.008×10,000 currency units=$80
The EUR / USD currency is explained in the example, of course, other major currencies such as JPY, AUD, or GBP can also be trade.