2019
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
$1000
|
|
|
$750
|
|
|
$500
|
|
|
$250
|
Detailed explanation-1: -The minimum transaction size of each unit of trade is approximately 1 million of the base currency.
Detailed explanation-2: -No Minimum Deposit - You may find brokers who do not stipulate a minimum deposit, and require you to deposit a suitable amount to trade with the currency pairs you are considering.
Detailed explanation-3: -Bringing in Foreign Exchange If, however, the value of foreign currency in cash exceeds US$ 5,000 and/or the cash plus TCs exceed US$ 10,000 it should be declared to the customs authorities at the airport in the currency declaration form (CDF), on arrival in India.
Detailed explanation-4: -What is the minimum amount that I need to have? You can start trading with as low as $100 (7484.5 Indian Rupee), depending on the broker you want to trade with, but note that you will not make as much profit on each trade as someone who opened an account with $1,000 or $10,000.
Detailed explanation-5: -You can start day trading forex for as little as $100, but that amount will limit your returns. It’s generally recommended that you use no more than 1% of your account balance on a forex trade.