FB Ad Testing

How much Budget should I plan to test, if a Facebook ad converts great?
I don't have a huge budget, so I can't use 100$ just for testing one ad.

Would 5$ a day for 5 days be enough to test if it converts, or wouldn't this have enough reach, to really say something about the Conversion Rate?

$5-$20 a day per ad for a couple of days is enough

i would say its less about budget and more about your ad "niche"... for me i can make up to 10 ads a day "20$" each . my problem is what niche to use that converts not so bad . and that takes time to find out !