what is the meaning of minimum deposit when opening a forex trading account?

@hosea_makelele - 6 months ago - Forex Education

When opening a new forex trading account, brokers always talk of minimum deposit but what does it really mean? Is it the amount you need to pay in the first time to open the account or is it what you will be paying every time you want to deposit?

@aisley - 6 months ago

Minimum deposit is the smallest amount you will be allowed to deposit into your forex trading account at all times. Minimum deposit is a big deal because it decides whether or not you can afford to trade with that broker.

There is no point opening a forex trading account when you cannot afford to deposit money into it, you might as well look for a broker with an affordable minimum deposit to match your financial circumstances.

If you attempt to deposit below the broker's specified minimum deposit amount, the submit button will be disabled to prevent you from completing the transaction. You can try it for yourself and see.