Finding the best forex broker with low minimum deposit to help you trade can be tough. In order to trade the Forex markets, you will need a broker. The broker will facilitate your trades, allowing you to enter the marketplace. That being said, not all brokers have the same minimums. Some brokerages have a large minimums necessary to open an account, while others have absolutely no minimum. As a general rule, it should be noted that most brokers that ask very little in the way of a minimum deposit are actually what is known as “market makers.” This means that they are taking the other side of your order most of the time.
That isn’t always the case, and certainly isn’t anything nefarious. A broker that is regulated isn’t going to be bothered trying to be unfair with your small position. If you want to find a low minimum deposit, then it follows that your position size will be that large. Very few brokers are going to risk a multimillion dollar fine in order to make a few bucks along the way.
| Top Brokers | Minimum Deposit | Max Leverage | Regulations | |
|---|---|---|---|---|
|
$200 | 1:30 | ASIC, CySEC, FCA, MiFID | VISIT BROKER 68% of retail CFD accounts lose money. eToro USA LLC does not offer CFDs, only real Crypto assets available. |
 |
$100 | 1:400 | MiFID | VISIT BROKER |
 |
$50 | 1:200 | IFSC | VISIT BROKER |
That being said, not all brokers are “market makers”, they may also be more along the lines of a market facilitator, simply matching orders. In that scenario, you are more than likely trading against another retail trader that is there customer. Let’s check out some of the most popular forex brokers with the lowest minimum deposits on the market today!
Compare the Top Low Minimum Deposit Forex Brokers in 2022
Here’s a list of the best forex brokers with low minimum deposit requirements that will get you trading and making money in no time!
Forex.com
Forex.com is by far one of the largest FX trading leaders in the US as well as globally. They are owned by Gain Capital and are regulated in the United States by the CFTC, the NFA in the United States, and six other countries around the world. Simply put, unlike so many other Forex brokerages, Forex.com is a true industry leader. As of Q3 2019, total assets of Gain Capital was $1.288 billion, meaning that your money is most certainly safe.
Forex.com was opened in 2001, and offers several different platforms, including the Advance Trading Platform, which is a proprietary platform, a Web Trading platform, and of course the industry standard Metatrader ecosystem. All of these platforms offer plenty in the way of technical analysis and add-ons. There is the ability to trade from a mobile phone as well and being such a large company, the technology is tried and true.
Account Stats
Leverage: the leverage available at Forex.com will vary depending on your home country, but in the United States it is 1:50 for major currency pairs, and 1:20 for minor currency pairs. In some jurisdictions, the leverage can of course be higher.
Minimum deposits allowed: The minimum deposit allowed to open up an account at Forex.com is $100
Regulations:
- NFA (US)
- CFTC (US)
- FCA (UK)
- ASIC (Australia)
- CySEC (Cyprus)
Payment options: Debit, ACH, Wire and Check
US Customers: Yes, based in the USA.
Pros and Cons of Forex.com:
Pros:
- Heavily regulated
- Well-capitalized
- 80 pairs to trade
- Extensive research and education
Cons:
- Spreads slightly higher than other places
- Lower leverage than foreign brokers
Bottom Line:
Forex.com has been around for almost 20 years and has facilitated thousands of customers around the world. They are one of the top brokers with minimum deposits. They are also highly capitalized, and even publicly traded on the New York Stock Exchange under its parent company Gain Capital. Not only are they highly capitalized, but they give access the 80 currency pairs. Beyond that, they have an enormous amount of cash on the books, making sure that some type of catastrophe won’t wipe out your trading account. Quite frankly, it’s probably one of the safest places in the world the trade Forex. The spreads are a little higher than we have seen in other accounts, so that of course is the tradeoff.
This is definitely one of the most professional brokerages that you can use worldwide and is most certainly time-tested. Furthermore, Gain Capital also acts as a brokerage for several other larger corporations such as TD Ameritrade. In other words, they are a major player in the game and for quite a few different reasons.
XM.com
XM.com is one of the largest Forex brokerage firms in the world. Based in Cyprus and establish in 2009, XM.com continues to attract traders from all over the world. It is highly regulated and offers a diverse suite of financial assets. In fact, when it comes to regulation, XM.com is regulated by more countries than most other brokerage firms, including the United Kingdom, Germany, Spain, Hungary, Italy, France, Finland, Poland, the Netherlands, Sweden, and Cyprus.
XM.com offers both Forex and CFD markets on shares, equities, and commodities. This allows the trader to diversify globally and is a great way to mitigate quite a bit of risk. With that being the case, and the fact that XM.com is known around the world, it does give the trader a bit of comfort and diversity that they can look forward to. The Metatrader ecosystem is used in both version 4 and 5, allowing for familiar and robust platform experience.
Account Stats
Leverage: Leverage will depend on the asset that you are trading, but XM.com can offer as much as 1:500 on certain Forex pairs. However, not all instruments can offer that type of leverage, so it will come down to the market being traded.
Minimum deposits allowed: Traders can open up an account with XM.com with no minimum, but if you wish to use an electronic method for funding, the minimum will be $5.
Regulations:
- CySEC (Cyprus)
- FCA (UK)
- BaFin (Germany)
- ASIC (Australia)
- CONSOB (Italy)
- PSZAF (Hungary)
- ACPR (France)
- CNMV (Spain)
- AFM (Netherlands)
Payment options: Moneybookers, Neteller, Skrill, Credit Cards, Western Union, Moneygrams, and bank wire.
US Customers: No, they are not regulated to do business with American clients.
Pros and Cons of XM.com:
Pros:
- Metatrader ecosystem
- Massive offering of markets
- High leverage
- Heavily regulated
Cons:
- No US clients
- $15 administration fee for withdrawals under $200
Bottom Line:
XM.com has been respected by traders globally for a number of years now. By offering as many markets as they do, it does make for a nice opportunity to play the global markets and diversify your trading portfolio. The low barrier to entry also is very attractive and of course using the Metatrader ecosystem is a huge bonus.
All of that being said, if you are not based in the US you may find that XM.com is one of your better options. The spreads are slightly higher than some other market makers, but quite frankly they are still well within the tolerances of normalcy when it comes to CFD markets. The research is top-notch, and there are quite a few educational sections that traders can look to as well.
HotForex
HotForex was founded in 2010 in the Caribbean nation of St. Vincent and the Grenadines. They are owned by “HF Markets Group” which is an umbrella Corporation for several different platforms. The head office is located in Cyprus with another one in Kingston, St. Vincent and the Grenadines. It offers crypto, bonds, commodities, indices, and Forex via the spot Forex market and CFD markets. They pass through trades to third-party liquidity providers instead of taking the other side of the trade.
They are regulated by a handful of brokerage regulators, allowing traders to feel a bit more comfortable rather than simply trading with an unregulated Caribbean brokerage firm. The company has been around for the past decade and has been growing quite rapidly as they allow massive amounts of leverage.
Account Stats
Leverage: HotForex can offer as much as 1:1000 leverage on currency pairs. This is probably overkill, but those who appreciate extraordinarily high amounts of leverage will be attracted to this brokerage.
Minimum deposits allowed: An account can be opened at HotForex with as little as $5.
Regulations:
- CySEC (Cyprus)
- DFSA (Dubai)
- FCA (UK)
- FSA (Seychelles)
- MiFID (EU)
- FSC (British Virgin Islands)
Payment options: Credit Card, FasaPay, Ideal, Maestro, Crypto, Bank wire, Webmoney, Skrill, Neteller, Sofort, and many others.
US Customers: No, they are not regulated to do business with American clients.
Pros and Cons of HotForex:
Pros:
- Higher leverage than most
- Massive amounts of instruments to trade
- Metatrader ecosystem
- Large amount of payment options
Cons:
- Cannot accept US clients
- Spreads aren’t the smallest in some markets
Bottom Line:
HotForex has been around for a decade and has serviced thousands of traders. While as a general rule it is not wise to go with Caribbean brokers, they have been regulated and enough jurisdictions now to prove themselves. The high amount of leverage will attract short-term traders more than anything else, but the ability to also invest around the world could be beneficial for longer-term minded individual.
A low barrier to entry of course makes this an attractive option, assuming that you don’t live in the United States. As they are regulated in other parts of the world, they will not accept United States clients as it can jeopardize their standing with other regulatory bodies. Spreads are little higher than others in some markets, but not unreasonable.
FXTM
FXTM, also known as “Forex Time”, is a Cypriot based Forex broker with offices in the United Kingdom and Mauritius. It offers Forex trading, precious metal markets, energy trading, major equity indices, crypto currency, and American stocks and shares via the CFD markets. They also allow direct trading in stocks, taking ownership of shares just like a traditional stockbroker.
They use the Metatrader ecosystem and are regulated in multiple jurisdictions around the world. They allow for global investing while offering a significant amount of regulatory oversight to protect your trading funds. They are one of the faster growing brokerage firms in the world currently.
Account Stats
Leverage: Leverage at FXTM can be quite excessive, reaching as high as 1:1000 in certain Forex pairs. It will change depending on the CFD market, but as leverage goes, they are one of the most generous brokers.
Minimum deposits allowed: Accounts can be opened with as little as $10. However, some of the more professional accounts require a minimum deposit of $500 and can even go as high as $25,000.
Regulations:
- FCA (UK)
- CySEC (Cyprus)
- FSC (Mauritius)
- FSP (South Africa)
Payment options: FXTM allows payments in credit cards, WebMoney, Western Union, Skrill, Neteller, and bank transfers.
US Customers: No, they are not regulated to do business with American clients.
Pros and Cons of FXTM:
Pros:
- Metatrader ecosystem
- Good spreads overall
- High leverage
- Regulated by multiple jurisdictions
Cons:
- No US clients allowed
- Not as many shares offered as other places
Bottom Line:
FXTM is a place that you can do business with peace of mind. After all, they are regulated by several jurisdictions, so that keeps safety of funds in the forefront. They have a low minimum deposit, and even offer the ability to pick up actual shares of stock if that’s what the trader decides to do.
The leverage is extremely high, starting at 1:20 in the case of the CFD market for shares, and extending all the way to 1:1000 in the case of Forex. That being said, you should be cautious about using that type of leverage unless you have a lot of experience. They do have a decent research department as well, so therefore for many of you this will be a good choice even if you are a beginner forex trader.
eToro
eToro is sort of an outlier when it comes to Forex brokerages. This was essentially where “social trading” began. This means that traders can follow other traders, which was a new concept when originally opened. They have been around since 2007, initially opening up in Tel Aviv, Israel. They are regulated by multiple districts globally.
They do not use Metatrader platforms, instead using a proprietary eToro platform, Keystone, Marketspulse, cTrader, Currenex, and a web-based version of their own system. That being said, if you are dead set on trading with Metatrader, you have to look elsewhere. Beyond that though, they offer a multitude of options.
Account Stats
Leverage: eToro offers 1:30 leverage max. While lower than some of the other brokerage firms that we have reviewed in this article, you should keep in mind that various jurisdictions will affect the leverage that you see.
Minimum deposits allowed: eToro allows you to open an account with only- $200.
Regulations:
- ASIC (Australia)
- CySEC (Cyprus)
- FCA (UK)
- MiFID (EU)
Payment options: Credit Card, PayPal, Skrill, Neteller, Moneybookers, bank wire, and many local vendors.
US Customers: Yes and no. There is a US branch that now allows crypto trading. Otherwise, no.
Pros and Cons of eToro:
Pros:
- Well regulated
- Over decade of records
- Multiple platforms
- Mobile App
Cons:
- US traders can only trade crypto
- No Metatrader
- Lower leverage than most
Bottom Line:
eToro is a very interesting brokerage firm, which has a reputable track record over a decade long. They have a no dealing desk method and offer plenty of markets the trade. However, if you are in the United States you can only trade crypto.
Leverage is a bit lower than other places, but quite frankly if you are trading in a place like the United Kingdom, or perhaps even the European Union, leverage is going to be restricted anyway. With that in mind, leverage should not be the “be-all and end-all” of your trading decision, especially as it can cause so many issues. Many traders like using cTrader and its ability to use algorithms, so if that’s your thing, this could be your broker.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
TradersWay
If you are the adventurous type, you may have found a new home. Unfortunately, when it comes to finances, it’s a recipe for disaster. TradersWay is based in Dominica of all places and comes with a plethora of issues. They do offer the Metatrader ecosystem so that’s a positive, just as they also offer the excellent cTrader platform. Multiple markets are offered, mainly Forex though. They do except US clients, but that’s only because they haven’t bothered being regulated. This is a huge red flag.
Account Stats
Leverage: TradersWay offers 1:1000 leverage on Forex trades, but less on energies and metals.
Minimum deposits allowed: You can open an account at TradersWay with as little as $10.
Regulations:
- NONE
Payment options: Wire transfer, Bank Transfer via Abra, Bitcoin, Litecoin, Ripple, Ether, and Credit Cards via VLoad.
US Customers: Yes and no. There are no regulatory bodies hovering over them, so they will accept US clients.
Pros and Cons of TradersWay:
Pros:
- Metatrader ecosystem
- cTrader
Cons:
- NOT REGULATED
Bottom Line:
TradersWay is a very dangerous place to trade, not necessarily because we know of any specific or wrongdoing, but the fact that they are not regulated is a huge red flag that eliminates them right out of the gate. One thing that’s worth noticing is that the amount of markets that they offer continue to shrink, which has to have one thinking about the possibility of liquidity issues.
The last thing you want to do is be involved with the broker that suddenly goes broke, without some type of insurance or larger financial backing. Out of all of the brokerages in this article, this is the one that you absolutely should not be involved with under any circumstances.
Micro Forex Account Brokers with Low Minimum Deposits
| Forex Broker | Minimum Deposit | Min Lot Size |
|---|---|---|
| Forex.com | $50 | 100 |
| XM | $5 | 1000 |
| HotForex | $5 | 1000 |
| FXTM (Forex Time) | $10 | 1000 |
| eToro | $50 | 1000 |
| Trader's Way | $10 | 1000 |
Common Low Minimum Forex Broker Questions
Here’s a bunch of the most common questions traders have about low minimum forex broker accounts.
What is the minimum deposit for Forex?
There is no set minimum deposit for Forex trading, but you obviously need to have enough to open up a position. For example, if you have 1:1000 leverage, you are going to need to have at least $1 in margin for every $1000 in currency you wish to trade.
There are accounts that you can open up without making a deposit, but if you don’t have the margin, it really doesn’t make any sense other than to open up a demo account in order to learn how to trade.
Can I trade Forex with $10?
Yes, you can trade Forex with $10. However, recognize that your $10 is not going to make you wealthy anytime soon. Opening up a tiny account with just a little bit of money like that makes sense to get a feel for what it’s like to trade with live trading capital, but to open up a career with that little in the way of money is a stretch of the imagination to say the least.
As a general rule, the more trading capital you have the better off you are going to be because you will be able to trade a decent sized position, and perhaps even more importantly handle a larger drawdown. Drawdowns do occur, even to the best of traders. This is why balancing leverage and trading capital is such a huge part of becoming a successful and professional trader.
What Forex brokers have no minimum deposit?
There are several Forex brokers out there that will allow you to open up an account without a deposit, and almost all of them will allow you to do that for a demo account where you get to practice with fake money. Demo trading is the first thing you should be doing anyway, as you learn to trade the markets and hone some type of system. After that, you should be looking to these low minimum deposit brokers in this article for an opportunity to open up a very small account. Where you choose to trade is entirely up to you but take the information in this article as a guide to where you can start.
As far as opening up a live account without placing a deposit, XM.com does allow that, but again, unless you have the money to place a trade it really doesn’t make any difference. Forex trading is like any other trading in the sense that you need to have money in your account to make money. Leverage helps, but you also need to be able to sustain the fluctuations of price and results of your trading system in order to stay in the game longer-term, and benefit from your investing. The most expensive minimum account in this list of brokerage firms was $200, so any of these brokers should allow you to get into the game of Forex trading relatively easy as many of them are extraordinarily cheap.