Can I start forex with $10?

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Hello readers, in today's article, We are going to see whether its possible to start trading with such a small capital of  $10. This topic is a very wide discussion in the forex industry. whereas its very possible technically to trade with this amount, its very hard ally a difficult experience and it requires an outstanding skill as a trader to manage such a small capital.

In forex, the more capital you have the easier it is to make some profits in the long run, cause if you have a $10 account and at the end of the month, you make a percentage gain of 10%, your realised profit is $1 in this case someone who has an account of $10,000 and makes the same 10% has realised a profit of $1,000. So, these people will never be the same, that's why you always hear people saying it's impossible to trade with a small account.

However, trading with a very small account is possible but associated with very high risk as it involves alot of risky behaviour such as over leveraging your account, opening many positions and use of abnormal lot sizes inorder to flip the account. Many gurus on social media will lie to you that its very simple but am here to tell you that its actually harder than you think. If you're planning on opening a small account for trading, just know the odds are not on your side really and you need tremedous skill to perform and grow that account to many digits.

How you can be able to trade a small account.

As we've said above , trading a small account is risky behaviour, but most people can only get acesss to a small account because not everyone can easily acess 10,000 dollars at hand. If you have no option but acess to small capital, there are two things you can do that will alter the odds slightly to your favour and these are;

1. Try Prop firms.

Prop firms, short for proprietary trading firms, are companies that provide traders with capital to trade financial instruments like stocks, bonds, currencies, and commodities. In exchange for this capital, traders share a percentage of their profits with the firm. With this you can select a prop firm of your choice iof you trust your trading skills and buy an account for a small fee, pass the challenge and get funded with a bigger account, this will provide you with larger capital that will enable you to make good money from the market without being concerned about your capital.

There are many Prop firms out there, be sure to make your research carefully and choose a prop firm that better suits your needs. I personally recommend "ForTraders" as it has customisable plans for there customers.

2. Create a Trading Plan.

If you have a small account and you'd like to grow it to a significant amount without involving in too much unnecessary risk, it's better to create a plan that is suitable to your way of tarding and size your trades according to your account growth over time. Forexample, you can plan to grow a capital of $5 to $100,000 in 100 days, this may seem delusional but its very possible. depending on your skill and trading capabilities.

So, with the above solutions, hope you are able to get a solution if trading a small account has been a big issue on your side.Hope this blog article was very helpful check out our other articles in the related section. Nice time