Profitable forex trading without leverage possible?

Hey, this will likely get downvoted to death but here goes nothing.

For religious reasons, I'm unable to and not keen on doing leveraged FX trading, yet FX trading does seem like a good thing to learn/do on the side and I'd like to start.

My question is, is it even worth if if you do it with no leverage? Seems like the profits will be abysmal to the point of it being a waste of time.. unless you have a massive warchest to trade with.

But let me know, perhaps others here are trading without leverage and it's worth their time.