New beginner Forex traders do not know how to get trading capital to fund their Forex accounts. This article answers the question, how can one get money for trading, and how much is enough? If you have no money for trading, do not worry. There are proven methods you can use to generate the amount hassle-free.
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5 Proven Ways to Get Trading Capital to Fund Forex Account

It is impossible to make money consistently by trading Forex if you don’t have enough capital. Even though most Forex brokers allow traders to deposit as low as $5 in their trading account, it is not advisable to trade with a small amount because you can lose the money quickly. Here is how you can raise money for trading in Kenya in simple steps:
1. Salary

Funding a Forex trading account with the salary received from employment is the best method. Forex account needs a backup capital. Traders employed in traditional jobs have a stable flow of income and can easily top up their account balances in case they are in a drawdown.
Unfortunately, most new traders in Kenya are unemployed and cannot raise enough trading capital. Due to the problem, most of them fail in Forex because they start depending on the profits earned from Forex trading too early.
2. Inheritance

If you are lucky to get an inheritance from your parents or family member, you can use the money to trade Forex. But do not throw the whole amount into the business. First, it would be best to get trading skills and start trading with an amount you can risk without hurting your emotions.
If you have inheritance money in your bank account, it can be stupid of you to transfer the whole amount into your Forex trading account. It would be best to use a small percentage of the money to trade and leave the rest in the bank account.
For example, if the bank account balance is $10,000, transfer 10% of the amount into your trading account and leave the rest in the bank. %10 of $10,000 is %1000. Depending on your trading style and the reliability of your trading strategy, you can use this amount to test if you can generate consistent profits in Forex.
Once confident, add more funds from the inheritance money into your trading account.
3. Business Proceeds

A business person can use their income from the business to fund a Forex account. If you do not have a business but believe you can generate Forex trading capital by running one, all you need to do is pick a business that requires low capital. Run the business and save money for your Forex account
Examples of businesses one can start with low capital in Kenya and get good returns on investment include farming, fast-moving consumer good shop, ‘mitumba’ business, and milk vendor business.
4. Raise Money for Trading Through Prop Firms

Because Forex trading requires huge capital to get significant profits, a trader can select and apply for funding from a prop firm.
In case you don’t know, there are financial companies that fund traders so they can have enough trading capital. These companies are called prop firms or proprietary firms.
Examples of prop firms Forex traders can use in Kenya include FTMO, My Forex Funds, and Traderseed.
But before you open an account with a proprietary firm, there are a few things you need to know:
1. Prop firms charge a joining fee.
2. You must make profits consistently on a demo or a live trading account before being funded by a prop firm
3. You must pass through a prop firm’s trader evaluation process, which can be time-consuming.
5. Contribution From Friends and Family Members

A beginner trader can raise trading capital from family and friends if there are no other means of getting the money. This can be achieved by privately reaching out to individuals or organizing a fundraiser. Websites like mchanga provide a convenient way of collecting funds from individuals anywhere around the globe.
In most cases, collecting money from family and friends is not an easy task. You need the confidence to approach the individuals with your request. Some will turn you down, while others will help. That said, asking family and friends to contribute capital for starting a business is the last thing you want to do.
FAQs on How to Get Trading Capital to Fund Forex Account
How Much Is the Required Capital for Forex Trading?
There is no fixed trading capital a Forex trader is required to deposit in a Forex trading account. The amount is determined by many factors, such as the type of trader you are, your trading style, and expected returns on investment.
For example, a day trader or a scalper can find it comfortable to trade with $1000 while at the same time, the amount can be too little for a position trader.
To decide on how much capital you need to start trading with, do the following:
1. Identify what type of trader you are. If you are a short-term trader, you may trade comfortably with $1000 or more. But if you are a long-term trader, you need a higher amount of money so you can manage your risk portfolio well.
2. Do a simple calculation to determine how much money you want to make over time. If you are comfortable with $300 monthly, ask yourself how much money you need to invest in Forex to get the $300 without struggling.
A trader targeting 5% monthly needs at least $6000 trading capital.
How Much Does It Cost to Start a Forex Trading Business?
Starting a Forex trading business costs a lot of money and time. You need to invest in the following:
1. A trading device such as a laptop or desktop
It is not a must that you have a PC for you to trade Forex because you can install trading apps on your mobile phone or tablet. But to trade conveniently, it is recommended that you get a good laptop for trading, which costs around Ksh 30,000 in Kenya.
2. A stable internet connection
Select the best company from a long list of internet service providers in Kenya. Companies with reliable internet connections in the country include Safaricom PLC, Zuku Fibre, and Faiba internet from Jami Telecommunications Limited. Other internet providers are Telkom Kenya, Airtel, and local community internet service providers.
Most companies charge around Ksh 10,000 to install a home internet and a minimum of Ksh 1000 monthly service fee.
If you add the above figures to your trading capital, you realize that you need over $1000 if you are a short-term trader and a higher amount if you are a position trader.
Besides money, obtaining Forex trading skills will take you time. You can learn the basics of Forex trading in less than a month but becoming a skilful trader takes time. Most successful traders confess that they started seeing results after six months, one year, and up to three years of learning and testing Forex trading strategies.
How Much Money Do You Need to Trade Full Time?
The amount of money you need to invest in Forex to be a full-time trader depends on your bills. Trader A can have a monthly bill payment of $300, while trader B has $3000 for the same period. The two traders need different trading capital to meet their monthly trading goals.
For example, trader A is looking to make 5% of their monthly investment. To pay their bills through the proceeds from Forex trading, the trader needs to invest a minimum of $6000. On the other hand, trader B should invest a minimum of $60,000.
One of the reasons why most Kenyan Forex traders cannot make Forex trading their full-time business is because they ignore these simple but essential Forex basics.
Is Forex Trading a Good Business?
Yes, Forex trading is a good business, especially for people who have time to learn and can afford trading capital. But traders are advised to follow their trading plans religiously even if they have the skills and capital because Forex business is risky.
How Much Can You Make Daily in Forex?
The amount you can make daily in Forex is not fixed. It depends on your trading capital, risk management, and how often you trade. In addition, you might make an amount of money today and lose it tomorrow.
That is why it is not recommended to calculate profits generated from trading daily. Instead, use weekly, monthly, quarterly, and yearly timeframes.
How Much Can You Make With $100 in Forex?
At OpWell Forex, we target a 5% monthly return. Using our trading goals, you can make a minimum of 5$ every month from a $100 account balance.
It is better to target a reasonable return and achieve it consistently than try to get a higher return and lose all of your investments.
If you do the maths, a trader with higher capital and low return on investment expectation can make a livelihood out of the Forex business.
Who Are the Richest Forex Traders in Kenya?
Most rich Forex traders live a private life. Therefore, they are not in the public domain. Some of the famous and prosperous Forex traders in Kenya include Paul Mugenda, Wanjiru Gichangi of Forex Exploits Academy, Patrick Mahinge, and Joyce Wanjiru (popularly known as Madam Forex), among others.
What Is Capital in Forex Trading?
Capital in Forex trading is the amount of money you invest in the Forex business to generate profits on a daily, weekly, monthly, or yearly basis. Depending on your broker, the amount can be as little as $5.
What Is the Best Source of Capital for Forex Trading?
The best source of capital for Forex trading is salary. This is because salaried individuals do not depend on the profits from Forex trading to settle their bills during the early stages of the business.
Forex beginners must understand that not every source of capital is good for forex business. For instance, a trader who borrows a loan to use the money in Forex trading is likely to lose the amount than a trader who deposits a little capital and compounds it.
It’s true because trading with borrowed capital puts pressure on the trader to achieve a predetermined amount of money they can use to settle the loan.
How Do You Get Capital to Trade Forex?
Getting capital to trade Forex in Kenya is one of the biggest challenges new beginner traders face. That is because most people live below the poverty level due to a high unemployment rate.
Beginner traders who are lucky to be employed can get their trading capital from their salary. But for the high number who are not on a monthly payroll of any company or organization, you can get money from donations and contributions from friends and family members, personal business, inheritance, and Forex prop firms.
Conclusion
Do not consider borrowing a loan to trade the Forex market when trying to get trading capital. Forex trading is risky, and you can lose all or part of your investment. If you borrow money for trading, you may be in debt trouble. In case you are a profitable trader, please share with us how you raised your capital in the comment box below.
Disclaimer: Trading forex involves risks, and it's important to carefully consider your investment objectives and risk tolerance before participating in the forex market. The information on this website expresses our authors' opinions and is meant for general knowledge only. Even though OpWell Forex provides reliable Forex Trading products and services in good faith, our website's content is not intended to substitute for professional investment advice. Therefore, we shall not be liable for any loss incurred as a result of consuming any of our resources.