Low Minimum Deposit Forex Brokers

Low Minimum Deposit Forex Brokers

After spending weeks of examining and reviewing many brokers, I found some of the best low minimum deposit forex brokers with micro accounts below $10.

Here’s a list of the best legit and regulated low minimum deposit Forex brokers with small micro accounts:

1. Hotforex $5
2. FXTM $10
3. FBS $1
4. Nord FX $10
5. Fibo Group $0
6. RoboForex $10
7. FXOpen $1
8. Alpari $5
9. AGEA $1
10. JustForex $0

You can find Reviews and more brokers with micro accounts in the table at the bottom of this post.

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See More On The Table

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Why Forex Micro Accounts?

There are a few reasons that people look for the forex brokers with low minimum deposit or forex micro accounts but I think the main reason is that you are a new trader and you want to get your feet wet before plunging into the ocean.

Well, that’s a wise thing to do and fortunately, there are several forex brokers offering low minimum deposit accounts so not only do you have a chance to begin with a few bucks but also you have a wide range of brokers that you can pick from.

There are some factors that you can pay heed to when choosing a low minimum deposit account. Some of them might not be as important while picking brokers for a larger size account, like educational material, and some should be treated differently such as leverage.

There might be other reasons for the traders to search for the forex brokers with low minimum deposits like having a strategy, especially a scalping one, with aggressive money management or dividing your capital into several small portions and keeping it out of your account for psychology issues or any other reasons.

Either way, you are probably interested in knowing some information about the brokers in this category so that you can make a more reliable decision.

What to Search in Low Minimum Deposit Forex Brokers?

There are several sections that I’ve designed for the table but some of them are more important especially if you are new to trading so I’ll explain them to some extent.

These are some of the factors that I think are important to consider when searching for low minimum deposit forex brokers.

I looked into these metrics precisely when I was searching for micro accounts brokers so that I can write a fair review and provide useful information for everyone that reads this post.

Ok, now let’s see what you should look at when seeking brokers with small accounts.

Regulation

Brokers’ regulation is always important however it’s crucial when you trade with large size accounts. With a low minimum deposit, you don’t need to scout out for a highly regulated broker with the authorization of several financial bodies in different parts of the world.

On the other hand, choosing a broker with no regulation is not a wise decision either because they have no obligatory conditions that watch their probable wrongdoings and make them accountable if they do something illegal.

Not regulated brokers have tempting conditions in some cases such as lower spreads but you can find those situations, and even better, in some regulated brokers as well — you just need to dig deeper.

Not all unregulated brokers are scam and you may find a good one every now and then but I prefer to look for the best ones among regulated brokers.

 I think having one regulation in this case suffices. That’s why I’ve chosen the brokers in this list from the ones that are authorized by one regulatory body at the least.

If you want to know more about the method that I used for scoring them, you can see this post that I explain about that.

Spread

With low minimum deposit accounts, you get the worst spreads of brokers most of the time. This is definitely not the strong suit of micro or mini accounts but if this is your priority, for example if you are a scalper, there are still some brokers in the list that have lower spreads.

You will defiantly have problems if you’re a scalper with a 3 to 4 pip tp/sl unless you have an impressive win rate.

On the other hand, there are plenty of options to pick from if you have something like a 10-pip target or stop loss.

If you are a longer-term trader like a day trader, the condition is better and you can pay attention to the other aspect of the brokers as well.

The spread section of the list is based on the lowest spread (from) you get for EUR/USD, which normally has the lowest spread among all the available currency pairs.

If you trade a specific pair or pairs or even other trading instruments like metals, CFDs, cryptocurrencies, and etc; you can find the typical or minimum spreads for them on the website of the brokers.

Another good side of regulated brokers is that they publish some information like their spreads on their websites, however, according to my experience, the information released by high regulated brokers are more reliable.

Leverage

This is probably the most important factor for micro accounts. It makes it possible to trade with a low budget in general. Without that there’s no such a thing as a low minimum deposit account.

As a general rule, the higher leverage in small size accounts the better and the lower in large-size accounts the safer, so it’s kind of a double-edged sword.

It’s very hard to trade with as low as 5 or 10 dollars normally even with high leverage like 1.2000, now imagine you have to trade when you have 1:300 with min lot size of 0.01 — it’s kind of impossible to open more than one trade at a time.

In a nutshell, with a 1:300 leverage and 0.01 lot size and a $10 account, we can have roughly 2 trades at a time so if you have a strategy that generates lots of signals, you should pick the highest leverage or larger lot size or even both.

For example, with a lot size of 0.001, you can have 20 trades with the same leverage (1:300) and even larger tp/sl.

If you just open one trade at a time even 1:200 will be enough. In this case, you can put stress on other aspects of the broker you want to pick.

Min Lot Size

Minimum lot size is the next crucial factor for minimum deposit accounts. The combination of this and the leverage determines your freedom in trading with micro accounts.

As we saw, the larger leverage the better for micro accounts. It’s the opposite for min lot size, the smaller the better.

One standard size for example for EUR/USD is worth $10. 0.1 lots are worth $1 and 0.01 lots are worth 10 cents.

With a $10 account, considering you use a large leverage like 1:1000, you almost have 100 pips which makes it possible to have lots of small trades with a for example 5-pip tp/sl.

Imagine how many trades you can have with 0.001 or even 0.00001 lot size. It’s very helpful for scalpers with a lot of simultaneous trades.

There are some brokers in the list that provides such lot sizes, so if opening lots of positions at the same time is in your trading style, they would be a great fit for you.

Education

This section is not necessarily important if you are not new to trading but it’s a helpful element to consider if you are a newbie.

You have to be well-equipped before even think of trading a small account, but since micro accounts can be an alternative to the demo accounts, you can start with a few dollars right away instead of fake money.

There are some advantages to that. First of all, there are some differences between demo and live accounts.

For example, you may not see problems like slippage (getting a worse price than the one you order), or at least not as frequent, in demo accounts.

So when you trade with a live account especially if you rip a few number of pips like scalpers, you might get into trouble and stumble upon situations you’ve never seen before.

Another issue that you might come across when trading with live accounts is psychology. You can trade with fake money and win or lose big amounts but nothing changes inside you.

You trade fearlessly and don’t care about your trades so you wouldn’t get back and analyze them to find the flaws. It’s different in real money even if it’s not much.

Anyway, if you’re a complete beginner, choosing a broker with educational material can serve you well in the early stage of your trading career.

You’ll probably need more, especially in terms of experience, but even basics can prevent you from jumping into many unreasonable trades or losing your money soon.

I went through all the educational materials of the brokers listed here so that I can be a better reviewer. I didn’t want to just see the headlines of education sections on the brokers’ websites to figure out if they have any material but I examined each of them thoroughly so that I can give meaningful scores.

The scores are from A+ which includes the educations that have useful articles, videos webinars, seminars with high-standard quality, to B which means the broker only provides some basics.

If you are a rather experienced trader, you can skip this section and pay attention to other parts but if you are a beginner, consider this factor as one of your choosing criteria.

Bonus

I chose this factor for the brokers with low minimum deposit because it can increase your initial money so that you can trade with a chubbier account, however, it might not be beneficial to you if you don’t know these kinds of bonuses well.

First of all, you should know that there’s nothing like free money in this case. It means no broker gives you a bonus with no string attached. You need to trade and redeem the bonus.

In other words, the brokers take back their money when you trade and give them spreads or commission which are the revenue stream of the legit brokers.

For example, for withdrawing a bonus, you need to trade a rather high number of lots compare to the size of your account. It’s even worse when they give you no deposit bonus.

For example, if you get a $50 bonus, you need to trade 50 standard lots so that you can withdraw that $50. In other words, you have to be a hell of a trader with lots of trades in a day because in most cases you have a limited time for redeeming the money too.

It can lead to overtrading and growing other bad trading habits which are fatal to the future of your trading especially if you are a newbie.

If you decide to use these types of bonuses, you can find them on the table or on this post that I wrote about them here.

Just make sure to read the terms and conditions of the bonus so you don’t break the bonus’ rules and waste your time.

There are reviews both on the above link and on the links inside the table that explain the conditions thoroughly.

Support

Since online trading creates an opportunity for people from all over the world, brokers try to provide service in different languages.

It comes in handy for the traders who don’t speak English or English is not their native language because there might be some terms and conditions that people ignore because they don’t understand them correctly.

Brokers’ website is the primary source of the clients to find everything they need to know about their brokers and become more familiar with different parts of them.

Moreover, it’s very helpful for those who want to take advantage of educational materials. If the broker’s website offers their languages, the learning process becomes more productive.

Supporting different languages on a website doesn’t necessarily mean that they have customer service or support in those languages.

Some websites support lots of languages but they only have English customer service agents. On the other hand, there are some brokers in the list that have agents for most of the languages that their site supports.

Hotforex, FXTM, FBS, Robo Forex are some of them.

You can find whether they speak in your language or not by either having a look at their contact page or asking them via online chat.

Forex Brokers with Lower than $10 Minimum Deposit

Broker




Information



Regulation



Support



Education



Bonus



Banned Countries



Platform



Payment Options





Visit Hotforex




Min Deposit: $5

Max Leverage:1:1000

Spread: from 1 pip

Min Lot Size: 0.01
FCA, DFSA, CySEC
FSCA, FSA

Score: A+
English, Spanish,
Portuguese, German,
Russian, Romanian,
Italian, Slovakian, French
Czech,
Hungarian, Polish,
Chinese, Vietnamese,
Thai, Hindi,
Arabic, Farsi, Malay
Turkish,
Filipino, Korean
Score: A+

Basic to Advanced
Videos, E-courses
Webinars
100% Credit
Bonus

See more
US, Canada,
Sudan, Syria,
North Korea
MT4, MT5
for
Desktop, Web,
Mobile
Wire transfer
Union Pay
Mastero
Mastercard
Visa
Bitcoin
Bitcoin Cash
Bitcoin by Skrill
Crypto Payments
Fasapay
Neteller
skrill
Webmoney


Visit FXTM
Min Deposit: $10

Max Leverage: 1:1000

Spread: from 1.5

Min Lot Size: 0.01
FSCA, FCA, CySEC

Score: A
English, Spanish,
Russian, Italian,
French, Chinese,
Korean, Vietnamese
, Czech, Polish, Hindi, Indonesian,
Malay, Arabic,
Urdu, Farsi
Score: A+

Basics,
Free e-books,
Seminars, Webinars, Workshop
30% deposit Bonus

it varies from time to time
the USA, Mauritius,
Japan, Canada,
Haiti, Suriname,
North Korea, Puerto Rico,
New Zealand
, the Occupied Area
of Cyprus
MT4, MT5
for
Desktop, Web,
Mobile
Bank Wire,
VISA, MasterCard,
Neteller, Safetypay,
Skrill,
Webmoney,
Union Pay,
VLoad,
TC Pay Wallet,
Bitcoin, Crypto,
DixyPay,
Yandex.Money,
QIWI,
Perfect Money, Konnexone, and many
other local bank
and exchangers.


Visit
FBS





Min Deposit: $1
for cent account
$5 for
micro account

Max Leverage: 1:3000 for micro
1:1000 for cent

Spread:
cent from 1 pip
micro from 3 pips
(fixed)

Min Lot Size: 0.01
IFSC, CySEC

Score: B+
English, Spanish,
Portuguese,
German, Italian,
French, Chinese,
Korean, Vietnamese,
Japanese, Thai,
Bahasa Indonesian,
Malaysian, Vietnamese,
Turkish, Urdu,
Arabic
Score: A+

Basic to Advanced
videos, Webinars
Seminars
100% Deposit Bonus

See more
the US,
Belize, Russia,
Cyprus
FBS Trader

MT4, MT5
for
Desktop, Web,
Mobile
Wire Transfer,
Credit Card,
Neteller,
PerfectMoney,
Skrill
they also have
local exchangers
for some
countries that
you can find it
after registration.


Visit Robo
forex
Min Deposit: $10

Max Leverage:
1:2000 for pro-cent
and pro-standard
1:300 for ECN-pro

Spread: from 1.3 for pro cent and
pro standard
from 0.8 for ECN-pro

Min Lot Size: 0.01
CySEC, IFSC

Score: B+
English, Spanish,
Portuguese,
German, Russian,
Italian, Czech,
Polish, Chinese,
Japanese,
Vietnamese, Thai,
Arabic, Malaysian,
Indonesian,
Ukrainian,
Lithuanian, Lettish,
Estonian
Score: A

Videos, E-book,
Strategies
100% Deposit Bonus

See more
the US, CanadacTrader and
MT4, MT5
for
Desktop, Web,
Mobile

R Trader (web)
Bank Wire,
VISA, MasterCard,
ePayments, FasaPay,
Neteller,
PaySec, Poli,
Qiwi, Skrill,
UnionPay,
WebMoney,
Perfect Money,
AdvCash,
Yandex Money,
and more


Visit Alpari
Min Deposit: $5

Max Leverage: 1:400

Spread: from 1.7

Min Lot Size: 0.01
CySEC, IFSC

Score: B+
English, Spanish,
Portuguese,
Russian,
Ukrainian,
Indonesian,
Malaysian,
Vietnamese,
Chinese, Arabic,
Farsi
Score: B+

Basics, Webinars,
Strategies

30% Deposit
Bonus
the US, Mauritius,
Japan, Haiti,
Suriname,
North Korea,
Russia, Azerbaijan,
Belarus, Kazakhstan,
Kyrgyzstan,
Armenia, Moldova,
Tajikistan, Uzbekistan,
Turkmenistan, Ukraine,
Georgia,
New Zealand, Canada.
MT4, MT5
for
Desktop, Web,
Mobile
Bank Wire,
VISA,
MasterCard,
BitPay, FasaPay,
Neteller, Skrill,
UnionPay,
WebMoney,
TC Pay Wallet,
Bitcoin, VLoad,
and Local
bank transfers


Visit FXOpen


Min Deposit: $1 for Micro
$10 for STP

Max Leverage: 1:500

Spread: from 1.6 pips

Min Lot Size: 0.001 for micro
0.01 for STP
ASIC, FCA

Score: A+
English, Spanish,
Portuguese,
French, Russian,
Ukrainian,
Indonesian,
Malaysian,
Chinese, Thai,
Arabic, Farsi,
Turkish
Score: B+

Blog
$1 Welcome bonus

$10 No Deposit
the US,
Belgium
MT4, MT5
for
Desktop, Web,
Mobile
Bank Wire,
VISA,
MasterCard,
Neteller, Skrill,
Webmoney,
UnionPay,
Perfect Money,
QIWI Wallet,
Yandex Money,
FasaPay,
Paysafecard,
Local bank for
Malaysia and
Indonesia


Visit
Fibo Group





Min Deposit: No minimum

Max Leverage: 1:1000

Spread: from 0.6 pips

Min Lot Size: 0.01
CySEC, BVIFSC

Score: B+
English, Spanish,
Portuguese,
Italian, Polish,
Russian, Ukrainian,
Indonesian,
Malaysian,
Vietnamese,
Chinese, Thai,
Arabic, Farsi
Score: B

Basics
Nonethe US,
Australia,
Austria, Belgium,
Great Britain,
Iraq,
North Korea
MT4, MT5
for
Desktop, Mobile

cTrader:
Desktop, Web
Bank Wire,BitPay,
Blockchain,
CASHU,
Connectum,
DixiPay, ecoPayz,
FasaPay, Neteller,
PaySafe Card,
RegularPay, Skrill,
WebMoney


Visit Super forex




Min Deposit: $1

Max Leverage: 1:1000

Spread: from 2 pips

Min Lot Size: 0.01
IFSC

Score: B
English,
Portuguese,
French, Russian,
Indonesian,
Malaysian,
Bengali, Hindi,
Vietnamese,
Thai, Arabic,
Farsi, Urdu
Score: A

Training center,
Seminars,
Videos
$50 No Deposit

60%, 120%
Deposit Bonus

See more
the USMT4
for
Desktop,
Mobile
Bank Wire
(in local currencies
for 60+ countries),
Skrill, Visa,
MasterCard,
Neteller, UnionPay, Perfect Money, QIWI, Bitcoin


Visit Insta
forex





Min Deposit: $1

Max Leverage: 1:1000

Spread: from 3 pips

Min Lot Size: 0.0001
BVIFSC, CySEC

Score: B+
English, Spanish,
Portuguese,
French, Italian,
Romanian, Polish,
Dutch,
German, Ukrainian,
Bulgarian, Serbian,
Czech, Russian,
Kazakh, Uzbek,
Indonesian,
Malaysia, Bangla,
Hindi, Chinese,
Vietnamese, Thai,
Arabic, Urdu
Score: B+

blog

Better educational
material if you
deposit $100
or higher
$3500 No Deposit
Credit

100% Deposit Bonus

See more
the USMT4, MT5
for
Desktop, Web,
Mobile
Bank Wire,
VISA,
MasterCard, Alipay,
American Express,
Bitcoin, Diners
Club,
JCB,
Litecoin, Local
Bank Deposits,
Local Bank
Transfers, PayCo,
UnionPay,
WeChatPay


Visit FortFS



Min Deposit: $5

Max Leverage: 1:1000

Spread: from 1.4 pips

Min Lot Size: 0.01
IFSC

Score: B
English, Spanish,
Russian,
Portuguese,
French, Polish,
Chinese,
Vietnamese, Hindi,
Indonesian, Malay,
Thai, Arabic,
Urdu, Farsi
Score: B+

Learning section
a few articles
but
worth reading
$35 No Deposit
Bonus

Up to 50%
Deposit Bonus

See more
the USMT4, MT5
for
Desktop, Web,
Mobile

Ninja Trader just
for above 10 k
deposit
Bank Wire,
VISA, MasterCard,
FasaPay, Local
Bank ( for Malaysia, Thailand,
Indonesia,
Vietnam), Neteller,
PerfectMoney,
Qiwi, Skrill, WebMoney


Visit AGEA



Min Deposit: $1

Max Leverage: 1:500

Spread: from 1.8 pips

Min Lot Size: 0.01
Commission of Capital
Market (Montenegro)

Score: B
Almost all languagesScore: B

Basics
$5 No Deposit
Bonus
the USMT4
for
Desktop, Web,
Mobile

Streamster
Bank Wire,
VISA, MasterCard,
DixiPay, FasaPay,
Local Bank
Transfers, Neteller,
PerfectMoney,
Qiwi, Skrill,
WebMoney


Visit Justforex



Min Deposit: No Minimum Deposit

Max Leverage: 1:3000

Spread: from 0.3-1.1 pips
Not Detectable
Correctly

Min Lot Size: 0.01

FSA

Score: B
English, Spanish,
Russian, France,
Portuguese,
Indonesian, Malay,
Korean, Japanese,
Chinese,
Vietnamese, Thai,
Arabic, Urdu
Score: B+

Basic Articles
Videos
110% Deposit Bonusthe USMT4
for
Desktop, Web,
Mobile
VISA, MasterCard, FasaPay, Local Bank , Neteller, Bitcoin, PerfectMoney, Qiwi, Skrill, UnionPay, Alipay,
STICPAY


Visit NordFX




Min Deposit: $10
Max Leverage: 1:1000

Spread: From 2 pips

Min Lot Size: 0.01

VFSC, CySEC

Score: B+
English, Spanish, Russian, Portuguese, Indonesian, Malay, Chinese, Vietnamese, Bengali, Hindi, Sinhala Thai, Arabic, FarsiScore B+

Learning center
including videos
Nonethe US,
South Africa
MT4
for
Desktop,
Mobile
Bank Wire, VISA, MasterCard, Neteller, Ngan Luong, PayToday, PerfectMoney, Qiwi, Skrill, Yandex Money, Dragonpay
Webmoney


Visit PaxForex



Min Deposit: $10

Max Leverage: 1:500

Spread: from 2.4

Min Lot Size: 0.0001

FSA

Score: B
English, Russian, Portuguese, Chinese, Thai, ArabicScore: B+

Trading Course,
Blog
100% deposit bonusJapanMT4
for
Desktop,
Mobile
Bank Wire, Credit/Debit Cards, Skrill, Neteller, WebMoney, Perfect Money, QIWI
FasaPay, Bitcoin

FAQ

Which forex brokers offer micro accounts with less than $10 minimum deposit?

1- Hotforex 2- FXTM 3- FBS 4- Roboforex 5- Alpari 6- FXOpen 7- Fibo Group 8- Axi trader 9- …more

What is the lowest amount for opening a trading account in forex?

There are some brokers offering accounts with only $1 deposit needed. You can find some of them here.

What are the main factors for choosing low minimum deposit brokers?

Spread, leverage, minimum lot size, education, support, and bonus are the main ones, however, it’s wise if you choose them from regulated brokers as well… more

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