Finding the best forex broker with no minimum deposit that will help you start trading can be almost impossible.
In this article, we have prepped for you a list of some of the best forex trading platforms that do not require a staunch minimum amount to trade. You will also find a detailed review of each of the platforms, their various unique features, advantages, and drawbacks. Since each trader has their own strategy and persona, these platforms are also created to serve these requirements. So, make sure that you go through the entire list before deciding on the platform that you should use for trading.
| Top Brokers | Minimum Deposit | Max Leverage | Regulations | |
|---|---|---|---|---|
 |
$100 | 1:400 | MiFID | VISIT BROKER |
 |
$50 | 1:200 | IFSC | VISIT BROKER |
|
$100 | 1:30 | ASIC, CySEC, FCA, FSB, ISA, MAS | VISIT BROKER |
Although there aren’t any popular forex brokers without minimum deposits on the market today, let’s check out some alternatives.
Compare the Top No Minimum Forex Brokers in 2022
Here’s a list of the best forex trading no minimum deposit brokers that will jump start your trading career no matter your skill level.
FXTM
FXTM is a renowned meta trading platform providing the usual MT4 and MT5 platforms, but the latter is not available for mobile devices. Using either of these platforms you can trade on the FXTM range of forex assets, cryptocurrencies, metals, CFDs and shared CFDs. Keep in mind that you will require some understanding of the metatrading process in order to trade using this platform, as it is not exactly built for beginner traders.
The amount of educational material provided by the app is a clear indication that it is meant for those who want to have a strategy-oriented trading experience. Seminars, webinars, ebooks, educational videos, and articles are some of the materials that you will gain access to as soon you open an FXTM Account. There are a total of 5 account types to choose from, each serving a specific need. So make sure that you put some thought into the choice of account type while using FXTM.
FXTM is an established platform that anyone can use for safe meta trading purposes. However, there are certain risks involved in the meta trading process that you must go through before indulging in it. Apart from the usual fees (which are at the minimum market rate), FXTM does not charge any extra payments from its users.
There are two mobile apps that you can use for trading using an FXTM account. The first is the usual MT4 app, and the second is the MyFXTM trading app. There are certain geographical restrictions to using the FXTM platform. It is not available in the USA, Canada, Korea, Japan, Puerto Rico, Mauritius, and Haiti.
- Minimum deposits allowed: $10
- Base currencies: EUR/USD
- Minimum lot sizes: 0.01 lots
- Account types: Standard account, Cent account, Shares account, ECN account, ECN zero account, FXTM Pro account
- Payment options: Credit cards, Digital wallets
- Bonuses: 30% up to $5100
These are currently the top 5 forex trading platforms that you can use without having to risk a large amount on your first trade. Some of them cater to beginner traders while others provide the tools requires by a professional. Some feature competitive rates on their assets and others a larger range of assets.
Whatever your choice is, make sure that you choose one that serves your particular requirements from the trading process. It can be competitive rates or an exclusive bonus; we are here to ensure that you make an educated choice. We hope that you have read through the entire list to find the perfect forex trading platform for you.
Another aspect to keep in mind is the various risks associated with forex trading which we suggest you read through thoroughly before taking part in the process. We wish you the best of luck for your forex trading endeavors.
XM.com
XM group, or more commonly known by their online moniker xm.com, is an Australia based organization that provides meta trading and web trading services. If you are a beginner trader then you can use their demo account to get used to forex trading or if you are seasoned in the practice then you can immediately start trading with the MT4 and MT5 platforms.
XM includes forex, stocks, precious metals, etc. along with 55 pairs that include all the major currencies. The only trading options lacking on the XM platform are Binary trading and Future trading. You have three types of accounts and the spreads for each type vary with the lowest being at 0.1 pips. The leverage ratio is also quite flexible, altogether leading to a successful and organized trading experience.
If you are a beginner forex trader and would prefer to spend as little money as possible to test the water, XM should be the perfect platform for you. Not only do you have access to their demo account absolutely free of cost but also a huge library of training material. With access to webinars provided by XM, you can quickly become a professional trader. But if you are a professional trader who wants a personalized platform, XM might not be the right choice for you.
XM.com is available as an app on all major smart device operating systems, and the performance is at par with the website. Moreover, it is a user-friendly application that allows you to trade from anywhere with the least amount of effort required.
- Minimum deposits allowed: $5
- Base currencies: EUR, USD, GBP, JPY
- Minimum lot sizes: 0.1 micro lot
- Account types: Micro accounts, Standard accounts, Zero accounts
- Payment options: Credit cards, Digital wallets, Bank wires
- Bonuses: Free VPS service
HotForex
Another famous meta trading platform, HotForex includes a long list of trading accounts that you can use to either trade within the MT5 and MT4 suites, or follow a professional with the help of a copy trading account. The primary reason for Hot Forex’s fame is owed to its super competitive rates especially with account types such as Zero and Fixed accounts. And although it provides a good amount of reading material that helps build strategy and explains the various nuances of meta trading, HotForex is not a beginner-friendly platform.
The platform is overall quite satisfactory and performs its intended purpose well. The range of tools provided allows you to analyze the market in-depth, and make the best decisions related to your trading activities. There are also third-party apps you can use to analyze the different assets and judge their future course. These apps are embedded in the HotForex platform and using them is absolutely safe.
Trading with HotForex does have some risks. But if you are a beginner trader and would like to take on the risks so that you can access the competitive rates, then you can always opt for a Hot Forex copy trading account. However, there are dedicated copy trading apps that perform this process better. Another aspect you need to keep in mind is that Hot Forex has its own set of limitations and conditions that you must adhere to. If you are not well versed in them then you might miss out on the important trades.
- Minimum deposits allowed: $50
- Base currencies: EUR, USD
- Minimum lot sizes: 1.20
- Account types: MT4, MT5
- Payment options: credit cards, wire transfer, online payment
- Bonuses: $2 per lot
Easy Markets
Easy markets are an absolute beginner-friendly trading platform especially due to its Deal Cancellation and Freeze Rate services. It has been operating for close to two decades now, and it is considered to be a safe platform for forex trading. It gives access to 62 currency pairs, over 100 CFDs, and a number of cryptocurrencies. There are three types of accounts that you can use at Easy Markets and each one of them has its unique advantages and competitive trading rates.
If you have the basic knowledge of forex trading then we suggest the VIP account as it provides a much better rate than the usual MT4 account. All of its accounts can avail the two aforementioned services. DealCancellation allows you to undo your trading decision for a very small price and FreezeRate can be used for freezing a quote for a period of three seconds. Needless to say, these services make the trading experience at Easy Markets quiet unique and user-friendly.
Apart from a range of other features, the Easy Markets platform also provides access to a good range of educational material. This can truly come in handy for anyone who wants to advance their knowledge of forex trading. You can also use their blog to see current forex news. So, this is not simply a beginner level trading platform, but can be used by professionals to perform heavy-duty trading as well.
- Minimum deposits allowed: $100
- Base currencies: EUR/USD
- Minimum lot sizes: 1.0
- Account types: Standard account, VIP account,
- Payment options: Credit cards, Digital wallets
Our Recommendation
Unfortunately, we couldn’t find a broker that was reputable enough to recommend that didn’t have a min deposit. However, we don’t think you can go wrong with any broker on this list. They all have their pros and cons, so it really depends what type of trading you want to do and which features you will find most useful.
The overall best on this list is kind of tied between XM and HotForex. Both of these brokers are highly reputable, easy to get started with, beginner friendly, and allow you to learn new skills quickly.
We’d recommend either of these to anyone no matter your skill level.
Common No Minimum Deposit Forex Trading Questions
Here are some of the most common forex traders have about zero minimum deposit broker accounts.
Can I Trade Forex With No Minimum Deposit?
In theory, yes. You can trade forex without minimum deposit if you can find a broker that will let you do that. Unfortunately, there are too many reputable brokers out there that give you this option. The good thing is that there are plenty of brokers with low minimum deposit options that you can choose from.
What is No Min Deposit Forex Trading?
Forex trading has become one of the most used sources of trading activities. It can be easily performed, and if done at a professional scale it can ensure that you earn quite a handsome fortune. But forex trading also requires a complete understanding of the process, its various nuances, and also its drawbacks. For enthusiasts who are just stepping into the world of forex trading, this can be quite a task.
Another factor that makes people not want to get their feet wet in forex trading is that it entices certain risks including monetary ones. As a solution to this, there are various forex trading platforms that operate on the basis of no minimum deposit amounts. What this means is that you can open an account on any of these platforms free of cost and then decide how much you would want to trade. For beginner traders, this becomes highly useful since they don’t have to spend a large amount and risk losing it.