How Much Money Do You Need To Get Started Trading

One of the most common questions I get is "How much money do I need to get started trading?"

First of all, this is the wrong way to approach trading. 

To start trading, you need to start learning, researching, studying, and consuming as much content as you can.

Maybe you are thinking, "Well, I only have $100, $50, $200," and that's fine.

Keep working and keep saving your money.

In the meantime, focus on learning everything you can about stock trading.

At InnpennyStock we also strongly advise you to sign up for a free demo on a real trading platform.

You can go to suretrader.com, sign up for an account and with zero risks you can utilize a real trading platform that allows you to get started trading.

• You'll be able to execute, buy, sell, and learn everything that you'll need to be a successful trader.

Obviously, there's no risk to you and although there are no real profits coming your way, you are still learning, you're getting started trading.

In the meantime, you're saving up, you're increasing the amount of money that you can invest with.

If you invest $1,000 and you make a 10% profit you get $100. That's awesome.

If you saved up $5,000 and you made that 10% profit you would get $500.

There is really no minimum or maximum to the amount that you should start trading with or investing in the stock market.

• To actually sign up on a brokerage platform, you only need $100 minimum in your account balance.

TD Ameritrade, E-Trade, Sure Trader, or if you're in Canada, Interactive Brokers, have slightly different minimums, but you can just open the platform and get started, put your money in, and then slowly increase your account.

You should take a portion of your income to put into your trading account and utilize that.

• Build the account so once you feel comfortable you can start actual trading through the mentioned brokerage platforms.

There's no need for the mindset, "Okay, how much money do I need to get started trading?". 

Start where you are. 

Start with what you have now. 

I hear a lot of excuses, "Oh, I only have $500, I can't trade yet. I only have $1,000, I can't trade yet."

No, you can start now.

Conclusion

Research, learn and sign up for everything you can right now.

In that way, you can do virtual trading and you can finally feel confident and build your skills to be a successful trader.

• The most important tool when it comes to trading is knowledge.

Remember, you don't have to start with thousands of dollars. 

Start with what you have.

As you gain more experience and more profit you'll be able to invest even more.