Forex Brokers With Low Deposit
The minimum deposit is the minimum amount which needs to be sent as part of the activation of a live trading account. Some brokers have a low minimum deposit, less than $100. Forex is traded in lot sizes. The trade size is related to the leverage as this allows the trader to control a larger sum of money than they would otherwise be able to. So to trade with a small account size, the trader will tend to need higher leverage and lower trade sizes.
Because increasing leverage increases risk, the trader can trade with smaller order or trade sizes. To do this, they may need a broker which offers small trade sizes. Many brokers offer micro lots, which combined with higher leverage can potentially enable the trader to trade with a low deposit. However if leverage is restricted or if the trader wishes to trade with lower leverage, they may want to consider trading with smaller trade or order sizes.
One way to trade with a smaller trade size on Forex is to allow trade sizes smaller than a standard micro lot. This is possible at some brokers via a MetaTrader cent account. A cent account denominates a MetaTrader account in cents, rather than dollars. Thus a micro lot on a cent account is 100th of the size of a micro lot on a standard account (i.e. it is a micro micro account, with trade sizes of 0.0001 lots).
Another way to trade with a low deposit is for a broker to have a low minimum order size. What is the difference between a minimum order size and a minimum trade size ? A minimum trade size sets the size of the trade. With small minimum trade sizes the order can be correspondingly smaller. But brokers may simply let the trader set the order size, with a low minimum available.
| Broker | Trading Platforms | Description |
|---|---|---|
| RoboForex Broker | MT4, MT5, cTrader, RTrader Trading Platforms | RoboForex has a wide range of account types including a cent account for MetaTrader with a minimum deposit of $10 Description |
| IQ Option Broker | Web Trader & Apps Trading Platforms | IQ Option offers Forex trading with a minimum order size of $1 and a minimum deposit of $10 Description |
| XM Broker | MT4, MT5 Trading Platforms | XM has a low minimum deposit of $5 and a cent account with a minimum trade size of 0.0001 lots Description |
| FXTM Broker | MT4, MT5 Trading Platforms | FXTM provides Forex trading, has a cent account with low minimum trade sizes and a minimum deposit of $10 ($50 in the EEA) Description |
In what situations should a low deposit be used for a Forex account ? The trader may wish to try trading on a live account, having practised on a demo. With a low deposit and a low minimum trade size, live trades can be placed with smaller sums as risk. This can go some way to dealing with the issue of moving from a demo to a live account, that it can be a different experience.
