Will it be possible to play this game, without paying a lot of money?

Yes.

Yes but it'll be a long hard grind

It is completely possibly to play the game without spending any money. Purchases will just allow you to progress a little faster.

The best approach to playing without paying, is to start out as a farmer until you reach lvl 16 or 17. This will help you develop faster without having to spend real money on resources (rss). After that, you don’t necessarily have to spend money, but make sure you join a top alliance and log on daily so 1) you’re less likely to be raided and 2) you’ll be able to grind up to higher levels. But it’ll take a LONG time.