Top 10 Forex Brokers With Low Minimum Deposit
Best Forex Broker With Low Minimum Deposit - eToro
Top Forex Brokers With Low Minimum Deposit:
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eToro – Biggest copy trading community in the world (over 3,000 verified investors with copiers);
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OANDA – Best for trading with advanced technical analysis tools (TradingView charts support);
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IG Markets – Favorable Forex trading conditions (0 fees, avg. EUR/USD spread - 0.8);
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Trading.com – Farouble Forex trading conditions (leverage up to 1:50, 70+ currency pairs);
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Interactive Brokers – Best broker for international investors (assets from 33 countries, 150+ markets);
Starting your trading journey doesn't have to mean risking a sizable chunk of cash. Many new traders understandably want to dip their toes in the water before fully committing to live markets. Exploring options with low barriers to entry allows for growing skills and confidence over time.
This overview examines some top brokers that let accounts begin with just a dollar or two, helping risk stay responsibly restrained as knowledge expands. Keep in mind that leverage can just as easily work for or against positions, so sensibly small deposits suit the learning phase best. The goal is embracing both sides of each trade - profits logically, but also valuable lessons in both green and red outcomes. Low minimums open doorways, not guarantees, so wisely make safety and education top priorities whatever the starting size.
Video Summary of This Article
Below you will find all the information.
Warning:
There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers With Low Minimum Deposit
A table comparing the best forex brokers with low minimum deposit.
| Broker | Minimum deposit | Regulation | Maximum leverage | Cent account |
|---|---|---|---|---|
$50 |
FCA UK, CySec, ASIC, MFSA, SEC, FINRA |
1:400 |
No |
|
$0 |
FCA UK, BVI FSC, ASIC, NFA, CFTC, IIROC, MAS, FFAJ |
1:40 |
No |
|
$50 |
FCA UK, BaFin, ASIC, NFA, CFTC, DFSA, FINMA, MAS, SFC HK, FSCA SA, FMA NZ |
1:200 |
No |
|
$5 |
FCA UK, NFA, CFTC |
1:30 |
No |
|
$0 |
FCA UK, ASIC, NFA, CFTC, IIROC, Sebi, SEC, CBI(Central Bank of Ireland) |
1:30 |
No |
|
$0 |
SEC |
1: |
No |
|
$0 |
NFA, CFTC, SEC, FINRA |
1: |
No |
|
$1 |
CNMV |
1: |
No |
|
$1 |
CNMV |
1: |
No |
|
$0 |
CySec |
1: |
No |
Top 10 Low Minimum Deposit Forex Brokers Reviews
eToro
The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA. eToro Profile Details
| 💻 Trading platform: | a proprietary unified platform |
|---|---|
| 📊 Accounts: | Standard and demo |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Bank transfer, Neteller, Skrill, Webmoney, GiroPay |
OANDA
The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.
| 💻 Trading platform: | MetaTrader 4, WebTerminal MT4, MT5, fxTrade |
|---|---|
| 📊 Accounts: | Standard, Core, Swap-free, Premium, Premium Core |
| 💰 Account currency: | USD, EUR, HKD, SGD |
| 💵 Replenishment / Withdrawal: | Visa, Mastercard, Skrill, Neteller and various Alternate Payment Methods |
IG Markets
IG Markets has been providing brokerage services for retail traders since 2014. It was established in 1974 in London to work with professional traders. It is a part of the IG Group with representative offices in 17 countries. IG Markets stocks are traded on the London Stock Exchange as a part of the FTSE 250 index. The broker is regulated by FCA (Financial Conduct Authority | the UK), CySec (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission), BaFin (the Federal Financial Supervisory Authority | Germany), FINMA (Swiss Financial Market Supervisory Authority), and NFA (National Futures Association). The IG Group global representative office is supervised by BMA (the Bermuda Monetary Authority). The broker provides services of trading Forex and different CFDs through MetaTrader 4 and its in-house platforms for retail and professional traders.
| 💻 Trading platform: | MetaTrader 4, IG Trading Platform, ProRealTime, L2 Dealer, and API |
|---|---|
| 📊 Accounts: | Demo and CFD |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Visa, Mastercard, and bank transfers |
Trading.com
Trading.com is a UK broker whose full name is Trading Point. Previously, it was called XMUK, but in 2019 it was rebranded and the company began to operate under its new title: Trading.com. The company offers to trade six asset classes such as currency pairs, metals, as well as CFDs on stocks, stock indices, commodity futures, and energy resources. More than 1,250 assets are available in total. The main office is located in London, the broker is regulated by the FCA (Financial Conduct Authority), and its registration number 705428.
| 💻 Trading platform: | МТ5 (desktop, mobile, WebTrader) |
|---|---|
| 📊 Accounts: | Ultra-Low Standard, Ultra-Low Micro |
| 💰 Account currency: | EUR, USD, GBP, CHF, AUD, PLN, HUF |
| 💵 Replenishment / Withdrawal: | Credit/debit cards, wire transfer, Skrill |
Interactive Brokers
Interactive Brokers is among the best-known US investment companies, operating since 1977. The broker offers to trade currency pairs, but its basic instruments are stocks, CFD, indices, metals, ETF, futures, and other exchange market assets. You can also trade cryptocurrencies on Interactive Brokers. The company is regulated by the US Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority (FINRA), the UK Financial Regulatory Authority (FCA), and other international financial regulation commissions. In 2020, the broker was awarded the "Best Online Broker” (Barron's) and "Best Broker for Economical Investments" (NerdWallet) titles and got five stars in the Online Stock Trading for Traders category (Canstar). Also, the broker is popular in other countries. Here you can read reviews of Interactive Brokers in Canada, Singapore, Australia, Hong Kong, Ireland.
| 💻 Trading platform: | IBKR Mobile, TWS for PC, IBKR API, Portal of clients |
|---|---|
| 📊 Accounts: | Real, Demo |
| 💰 Account currency: | USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
| 💵 Replenishment / Withdrawal: | Bank Transfer (SEPA), US ACH Transfer, Direct Debit/Electronic Clearinghouse (ACH), Cheque, Canadian ETF Transfer, BACS / GIRO / ACH |
Fidelity
Fidelity Investments is a large American financial services company. It was founded in 1946 by American businessman and lawyer Edward Crosby Johnson II. It provides services to traders in trading securities and commodity assets and allows investors to invest in mutual funds and investment funds, form portfolios for a variety of instruments, including bonds and annuities with fixed income. The company has received several awards: according to Barron's, Investors Business Daily, Kiplinger, and Stock Brokers. Fidelity Investments is recognized as the best online broker of 2020.
| 💻 Trading platform: | Active Trader Pro |
|---|---|
| 📊 Accounts: | Demo, Traditional IRA, Rollover IRA, ROTH IRA, Brokerage Account, brokerage and fund management, account "529", Fidelity Go, Fidelity personalized management and consulting |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Visa, Mastercard, Wire Transfer |
Thinkorswim by TD Ameritrade
TD Ameritrade’s Thinkorswim broker is a result of the unification of Thinkorswim and TD Ameritrade, the developers of the best platform for stock trading in the US. Its main focus is trading securities, the OTC securities market, spot instruments, and retail foreign exchange trading in the US. The company was nominated for: "Best Platforms and Tools", "Best Application for Traders", for being among the Top 5 in the ratings, "Best Innovative Developments", and "Best Broker for Options Trading". Since 2009, the company’s reliability has been confirmed by the licenses from two of the most stringent regulators in the world, FINRA (CRD#: 7870/SEC#: 801-60469,8-23395), and SIPC.
| 💻 Trading platform: | Thinkorswim |
|---|---|
| 📊 Accounts: | Standard Forex (account for trading currency pairs, other assets are not considered in this review) |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Electronic bank deposit, wire transfer, checks, transfer of assets from one brokerage company to TD Ameritrade’s Thinkorswim, physical certificates of shares |
iBroker
iBroker is a company based in Spain, and established in 2002. It provides online trading services, allowing its clients to trade various financial instruments, including Forex, stocks, options, and futures. The broker offers access to both derivative instruments in the form of CFDs and underlying assets (through partner platforms). iBroker is regulated by the Spanish financial supervisory body CNMV (Comisión Nacional del Mercado de Valores), and its clients' funds are protected by the FOGAIN (Fondo General de Garantía de Inversiones) fund. Its services are available not only to residents of Spain but also to traders from other countries. In the U.S., it is possible only through partners. iBroker is integrated with brokers such as AMP Global, Dorman Trading, StoneX, Aarna, and others.
| 💻 Trading platform: | Proprietary web platform and mobile applications of iBroker; TradingView, StoneX, S5 Mobile, CQG, dt Pro, PatSystems, AARNA iBroker, RJO Futures Pro Mobile, Direct API, and others |
|---|---|
| 📊 Accounts: | Demo, real |
| 💰 Account currency: | EUR |
| 💵 Replenishment / Withdrawal: | Bank transfer via CaixaBank and Banco de Sabadell, cash replenishment at a bank branch |
Blackbird
Blackbird is a Spanish stock broker that is regulated by CNMV (Comisión Nacional del Mercado de Valores) and is a member of the FOGAIN (Fondo General de Garantía de Inversiones) public investment guarantee fund. The BlackTrader platform provides for trading both underlying assets (stocks, ETFs, and bonds) and derivatives (options, futures, and CFDs on currency pairs, stocks, and indices). The company was incorporated in 2012 and it received numerous awards, including awards for the Best Platform and the Best Training for Novice Traders. Blackbird offers access to 15 global markets and focuses on providing services to investors from Spain and Latin America. Its clients can use several investment solutions, including those with personal support and portfolio building.
| 💻 Trading platform: | BlackTrader |
|---|---|
| 📊 Accounts: | Paper (demo) and Real |
| 💰 Account currency: | EUR |
| 💵 Replenishment / Withdrawal: | Bank transfers |
MEXEM
MEXEM is an investment company and an Interactive Broker and introducing broker (IB) that is licensed by CySEC. The company started its activity in 2018 and has a Cyprus registration. For trading, it offers a desktop platform from Interactive Brokers, as well as a web portal and proprietary mobile apps. The available assets include stocks (whole and fractional), funds, futures, options, and bonds. This broker also allows you to trade FX currency pairs and contracts for differences (CFDs) in prices, i.e., derivatives. MEXEM ensures the highest level of security for client funds and takes a responsible approach to fulfilling all contractual obligations for brokerage services.
| 💻 Trading platform: | Paper Trading Account (demo), Individual, Joint, Corporate, Money Manager Account |
|---|---|
| 📊 Accounts: | Paper Trading Account (demo), Individual, Joint, Corporate, Money Manager Account |
| 💰 Account currency: | 23 fiat currencies |
| 💵 Replenishment / Withdrawal: | Bank transfer, SEPA |
Top 3 Brokers With Low Deposit Overall Rating
eToro – Biggest copy trading community in the world (over 3,000 verified investors with copiers)
OANDA – Best for trading with advanced technical analysis tools (TradingView charts support)
IG Markets – Favorable Forex trading conditions (0 fees, avg. EUR/USD spread - 0.8)
How to Make a Forex Deposit? Step-By-Step
To deposit funds into your Forex trading account, follow these step-by-step instructions on verifying your account, accessing the deposit section, selecting a deposit method, and entering the necessary details.
Step 1: Verify Your Account (If Required)
Before making a Forex deposit, it's important to verify your trading account. Most reputable Forex brokers require users to complete a verification process to comply with regulatory guidelines. This typically involves submitting identification documents such as a valid passport or driver's license, proof of address, and sometimes proof of financial information.
Step 2: Access The Deposit Section
Log in to your Forex trading account using your username and password. Once logged in, navigate to the account dashboard or the "Deposit" section. The exact location may vary depending on the broker's website or trading platform.
Step 3: Select Your Deposit Method
Within the deposit section, you will typically find a range of payment methods available. Common options include bank wire transfers, credit/debit cards, e-wallets (such as PayPal or Skrill), and sometimes even cryptocurrencies. Choose the deposit method that suits you best in terms of convenience, speed, and any associated fees.
Step 4: Enter the Deposit Details
After selecting your preferred deposit method, you will be prompted to enter the necessary details. This may include the deposit amount, currency, and any additional information the chosen payment method requires. Ensure that you double-check the accuracy of the information before proceeding.
Step 5: Confirm the Deposit
Review the deposit details one last time to ensure they are correct. Some brokers may also require you to acknowledge and accept any associated fees or terms and conditions. Once you are satisfied, click on the "Confirm" or "Deposit" button to initiate the transaction.
Step 6: Complete the Payment
Depending on the chosen deposit method, you will be redirected to a secure payment gateway or prompted to provide further information. Follow the on-screen instructions to complete the payment process. This may involve entering your banking details, authorizing the transaction, or confirming the payment through a third-party payment provider.
Step 7: Wait for Confirmation
After completing the payment, you will typically receive a confirmation message on the broker's platform or via email. This confirmation serves as proof that your Forex deposit has been successfully processed. The funds should reflect in your trading account shortly, allowing you to start trading in the Forex market.
How Do I Deposit And Withdraw Money From Forex?
When it comes to depositing and withdrawing money from Forex, various payment methods are available, each with its own advantages and disadvantages. Let's explore the pros and cons of some commonly used methods.
Credit and Debit Cards
Credit and debit cards are widely recognized and accepted payment methods. Traders can deposit funds into their Forex trading accounts using their Visa, Mastercard, or other major cards. The process involves providing card details and authorizing the transaction.
👍 Pros
•Convenient and widely accepted
•Instant deposits
•Security features and fraud protection
•Can be used for both deposits and withdrawals
👎 Cons
•Potential fees
•Transaction limitations
•Card acceptance varies
•Withdrawals may take longer
Cryptocurrency Wallets
Cryptocurrency wallets enable traders to deposit and withdraw funds using digital currencies like Bitcoin, Ethereum, or Litecoin. These wallets provide secure storage for cryptocurrencies and facilitate transactions on the blockchain.
👍 Pros
•Anonymity and privacy
•Fast and seamless international transfers
•Some brokers offer a wide range of cryptocurrencies
•Potential for lower transaction fees
👎 Cons
•Requires familiarity with cryptocurrencies
•Volatility in cryptocurrency values
•Limited acceptance among brokers
•Security risks with managing wallets
Bank Transfer
Bank transfer, also known as wire transfer, involves transferring funds directly from a trader's bank account to their Forex trading account. Traders provide their banking details to initiate the transfer.
👍 Pros
•Suitable for larger transactions
•No additional fees from brokers
•Secure and reliable method
•Widely accepted by most brokers
👎 Cons
•Longer processing times
•Additional fees from intermediary banks or currency conversion
•Manual input of banking details
•Limited flexibility for small deposits
Electronic Payment Systems
Electronic payment systems, such as PayPal, Skrill, Neteller, or other similar platforms, provide online wallets and payment solutions. Traders can link their bank accounts or credit cards to these systems for easy transfers.
👍 Pros
•Instant deposits
•Wide range of options available (e.g., PayPal, Skrill, Neteller)
•Supports multiple currencies
•Can be used for both deposits and withdrawals
👎 Cons
•Transaction fees may apply
•Availability varies among brokers
•Security concerns and unauthorized access risks
•Withdrawal limits and additional verification processes
Remember, the specific pros and cons may vary depending on your broker or platform. It's important to review the terms and conditions, fees, and limitations of each payment method before deciding.
Low Minimum Deposit Pros and Cons
Pros
Lower risk
Forex and CFD trading carries significant risks, which presents a barrier for new traders as many of them cannot afford to risk the high amounts. However, with low minimum deposit thresholds, new traders can afford to trade and risk according to their ability.
Access
Another advantage of minimum deposit brokers is that you can test several markets and spread your pot across various assets. You can trade on commodities like gold or oil and indices like the NASDAQ or FTSE 100.
Resources
Most brokers that allow low minimum deposits also provide a variety of tutorials, tips and guides that help formulate and support trading strategies. A deposit of as little as $1 can give you access to a broker's range of tools. Also you can learn more about Forex brokers with $1 minimum deposit.
Order size
It is typical for trading platforms with low minimum deposits to accept smaller order sizes convenient for new traders or traders with limited financial resources.
Cons
Using Big Leverage
One of the major disadvantages of using brokers with low minimum deposits is that they require you to use big leverage, which is very risky. Aside from the risk of losing your entire account balance, you could also run into a negative balance if the broker does not have a policy against negative balances.
Limited profit
The smaller you commit to trading, the smaller your profit. If you use brokers with a low minimum deposit, then there is a chance that you will be committing less money.
Most brokers have limitations for withdrawing money
This is common with many brokers that allow low minimum deposits. Some of the brokers place limitations on how much you can withdraw.
Best Forex Brokers Deposit and Withdrawal Explained
Various forex brokers offer different ways to deposit or withdraw from their platforms Exness and Oanda, for example, offer Crypto, Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, FasaPay, astroPay, Giropay, Ideal, Poli Sepa, Nordea, Perfect Money, Sofort, and Western Union.
| Broker | Deposit and Withdrawal Options | Deposit fee | Withdrawal Fee |
|---|---|---|---|
Bank transfer, Neteller, Skrill, Webmoney, GiroPay |
0 |
0 |
|
Visa, Mastercard, Skrill, Neteller and various Alternate Payment Methods |
0 |
0 |
|
Visa, Mastercard, and bank transfers |
|
|
|
Credit/debit cards, wire transfer, Skrill |
|
|
|
Bank Transfer (SEPA), US ACH Transfer, Direct Debit/Electronic Clearinghouse (ACH), Cheque, Canadian ETF Transfer, BACS / GIRO / ACH |
0 |
Yes |
|
Visa, Mastercard, Wire Transfer |
|
|
|
Electronic bank deposit, wire transfer, checks, transfer of assets from one brokerage company to TD Ameritrade’s Thinkorswim, physical certificates of shares |
|
|
|
Bank transfer via CaixaBank and Banco de Sabadell, cash replenishment at a bank branch |
|
|
|
Bank transfers |
|
|
|
Bank transfer, SEPA |
|
|
Expert Opinion
Starting forex trading with a low minimum deposit (think under $50) sounds great for beginners – a chance to dip your toes in with minimal risk. However, there's a wrinkle. To trade such small amounts, you might need to consider either cent accounts, which trade in fractions of a currency, or leverage, where you borrow from the broker to increase your buying power.
The issue with high leverage is that even with microlots (the smallest trade size available), you might still need significant leverage. This can magnify both your potential profits and losses, making it a risky path for beginners still learning the ropes.
Therefore, most experts recommend that beginners use standard accounts, which require 100 times less capital upfront. This allows you to trade with a lower margin (the amount you initially need to invest) and helps manage risk more effectively. Remember, high-margin trading can be a recipe for disaster for forex newcomers.
FAQs
How long does it take to fund a new Forex account?
It typically takes 1-3 business days to fund a new Forex account through bank transfer. Card payments are faster at 1 business day. E-wallet deposits are instant in most cases.
Can I open a Forex account with no experience?
Yes, brokers do not require any trading experience. However, it's highly recommended to learn the basics through demo accounts before risking real money.
Can I open a practice account with no deposit?
Yes, most Forex brokers offer robust demo accounts that don't require any money to trade virtually and develop skills.
Do Forex brokers require identity verification?
Regulated ones require ID verification like passport/ID card scan to comply with KYC laws.
Methodology for compiling our ratings of Forex brokers
Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Find out more about the unique broker assessment methodology developed by Traders Union specialists.
Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.