30 Best Forex Brokers with Low Minimum Deposits

Table of Contents

Best Forex Brokers with Low Minimum Deposits

 

This review explores the 30 Best Forex Brokers with Low Minimum Deposits and discusses the pros and cons, and fees and commissions of each broker in greater detail.

Using one of the following Forex brokers gives you an opportunity to explore the products, tools and account features offered by brokers before making any financial commitments. 

Choosing one of these brokers also allows you to test the quality of customer services offered by brokers so that you can make an informed decision before investing any real money.

 

Alpari International

Alpari

 

Alpari International was founded in 1998 as an STP and ECN Forex broker that provides its clients, which currently stands at 2 million, with access to global markets.

Customer support is offered in 30 international languages, and traders can choose from more than 250 trading instruments.

Alpari International is trusted by man beginner traders who benefit from the free training courses and educational content provided.

More experienced traders have access to Autochartist, FxWirePro and a variety of more advanced tools for all styles of trading, including copy trading.

 

Pros and Cons of Alpari International

✔️Pros Cons
Member of the Financial Commission Limited product offering
Compatible with MetaTrader platforms Not regulated by CySEC, ASIC or FCA
4 flexible accounts, including PAMM accounts
Great choice for high leverage traders

 

Fees and Commissions

Features Prices
Minimum deposit $5
Average spread EUR/USD – active 0.82
Average spread EUR/USD – standard 0.92
VIP or active trader discounts Yes
Maximum leverage Up to 1:1000
Account currencies USD. NGN, EUR, GBP
Instruments Forex, Metals, CFDs, Cryptocurrencies

 

AvaTrade

AvaTrade

 

AvaTrade is a low-risk, tier-1 regulated Forex broker that was established in 2006 and has offices located globally.

AvaTrade offers its clients a unique copy and social trading platform, known as AvaSocial, which can be used to copy the trading strategies of more experienced traders.

Traders can fund their accounts using a variety of flexible payment options, and AvaTrade offers STP, ECN, DMA and Islamic accounts.

 

Pros and Cons of AvaTrade

✔️Pros Cons
Withdrawals and deposits are free No fixed spreads offered
Advanced research tools provided Penalty fee for inactivity
Well-regulated broker Commission charged on all trades
Variety of platforms to choose from

 

Fees and Commissions

Features Prices
Minimum deposit $100
Average spread EUR/USD – active 0.61
Average spread EUR/USD – standard 0.91
VIP or active trader discounts Yes
Maximum leverage Up to 1:400
Account currencies USD, EUR, GBP. CHF. AUD
Instruments Forex, Stocks, Commodities, Indices, ETFs, Bonds, Cryptocurrencies

 

Axi

AxiTrader

 

Axi clients can start trading with no minimum deposit, and they can benefit from flexible fee structures and tight, raw spreads.

Axi is regulated by the ASIC, FCA, and DFSA, and has been operational since 2007 as a CFD Forex broker. 

Axi traders can choose from three main types of accounts, specifically designed for individuals, corporate clients or joint accounts.

The Axi web trading platform is available in more than 15 international languages and traders have access to all the advanced MetaTrader tools.

 

Pros and Cons of Axi

✔️Pros Cons
11 base currencies available for funding accounts Research tools are lacking
No penalty fees for inactivity Limited product offering
No minimum deposit
Variety of accounts offered

 

Fees and Commissions

Features Prices
Minimum deposit $0
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard N/A
VIP or active trader discounts No
Maximum leverage Up to 1:30
Account currencies AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, USD
Instruments Forex, Cryptocurrencies, Metals, Indices, Commodities

 

CMC Markets

CMC Markets

 

CMC Markets was founded in 1989 as a Spread Betting and CFD broker, and have received over 50 rewards in the last 30 years.

A trading account can be created with CMC Markets at no expense and traders have access to more than 300 currency pairs, and 9,000 Shares.

CMC Markets provides traders with a proprietary trading platform that offers advanced trading and drawing tools, 115 technical indicators, 70 chart patterns and 12 chart types.

CMC Markets also encourages risk management and includes guaranteed stop-loss orders in its offering.

CMC Markets is regulated by the FCA and is compliant with CASS and the FSCS.

 

Pros and Cons of CMC Markets

✔️Pros Cons
Great selection of research tools Lack of trading instruments
No minimum deposit required Penalty fee charged for inactivity
10 supported base currencies
Deposits and withdrawals are free 

 

Fees and Commissions

Features Prices
Minimum deposit $0
Average spread EUR/USD – active 0.64
Average spread EUR/USD – standard 0.74
VIP or active trader discounts Yes
Maximum leverage Up to 1:500
Account currencies EUR, USD, CAD, AUS, GBP, NOK, NZD, SEK, PLN, SGD
Instruments Forex, CFD, Cryptocurrencies

 

Deriv

Deriv

Deriv launched its first trading services in 1999 and operates under the regulations of MFSA, FSA and VFSC.

Deriv account types are designed according to the needs of different types of traders, namely Margin traders, Options and Multipliers, as well as demo accounts.

Deriv traders benefit from tight spreads, advanced trading tools and innovative charting widgets, with customer support offered 24/7.

Deriv traders are provided with 5 unique trading platforms, including a strategy builder, which suggests that this broker caters to more experienced traders, due to the lack of educational content.

 

Pros and Cons of Deriv

✔️Pros Cons
Great selection of advanced trading tools Not beginner-friendly
Highly regulated and licensed Not available to US citizens
Unlimited demo account
Multiple proprietary platforms and tools

 

Fees and Commissions

Features Prices
Minimum deposit $5
Average spread EUR/USD – active 0.5
Average spread EUR/USD – standard 0.5
VIP or active trader discounts No
Maximum leverage Up to 1:1000
Account currencies USD, AUD, EUR, GBP
Instruments Forex, Indices, Stocks, Cryptocurrencies. Commodities

 

eToro

eToro

 

eToro was founded in 2007 and has accumulated a total of 3 million traders since its inception.

eToro is regulated by CySEC and the FCA, and is a trusted CopyTrading broker with an annual average of 83,7% profits reported for copy traders.

eToro is beginner-friendly and offers new traders a comprehensive selection of educational content and training resources, as well as a trading school.

eToro is available to US citizens and has a mostly positive customer service review on Trustpilot, but responses from the support team can take up to 14 days.

 

Pros and Cons of eToro

✔️Pros Cons
Accommodates for copy traders High Forex fees
Supports social trading Withdrawals cost $5
Leverage options are flexible
Stock and ETF trading is free in EU

 

Fees and Commissions

Features Prices
Minimum deposit $500
Average spread EUR/USD – active 1.0
Average spread EUR/USD – standard 3.0
VIP or active trader discounts Yes
Maximum leverage Up to 1:30, 1:400 for professional accounts
Account currencies USD, AUD, CNY, CAD, GBP, EUR, JPY, RUB
Instruments Stocks, Commodities, Indices, Forex, ETFs, Cryptocurrencies

 

Exness

Exness

 

Exness was founded in 2008 by a team of experts in finance and technology and is trusted by more than 100,00 traders globally who have traded nearly $700 billion USD on a monthly basis.

Exness is regulated by the FSA, FSCA, CySEC and FCA, and the customer support team can be reached 24/7 and is available in 15 international languages.

Traders can choose between 2 main account types and each type has accounts designed specifically for MetaTrader 4 and 5.

Professional traders have several options for account types and all accounts have tight spreads, starting from as low as 0.0 pips.

Exness caters for more experienced traders who understand how to use the advanced tools available on the MetaTrader platforms and WebTerminal.

 

Pros and Cons of Exness

✔️Pros Cons
Highly regulated and trusted broker Lack of educational content
Compatible with MT4 and MT5 Not beginner-friendly
Hedging and Scalping allowed
Low minimum deposit

 

Fees and Commissions

Features Prices
Minimum deposit $10
Average spread EUR/USD – active 1.1
Average spread EUR/USD – standard 1.1
VIP or active trader discounts No
Maximum leverage Up to 1:2000
Account currencies USD, EUR, ZAR, CHF, NZD, SGD, JPY, AUD
Instruments Forex, Cryptocurrencies, Energies, Metals,  Shares, Stocks, Commodities

 

FBS

FBS

 

FBS is an award-winning provider of trading services to more than 15 million traders from 150 countries worldwide, with an annual client profit of $500 million.

More than 1,000 accounts are opened on a daily basis and FBS is a great option for partnership opportunities.

FBS has designed five unique account types and accommodates copy trading for high-volume investors and retail traders.

FBS clients benefit from several promotional deals, contests and special services, such as loyalty programs and VPS servers.

Traders have access to a variety of innovative trading tools that can be used on MetaTrader or the proprietary FBS platform.

FBS provides beginners with a great selection of educational resources and training material.

 

Pros and Cons of FBS

✔️Pros Cons
Flexible account options Limited product offering
Copy trader-friendly EU clients do not have many benefits
Compatible with MetaTrader platforms
Plenty of promotions and bonuses

 

Fees and Commissions

Features Prices
Minimum deposit $1
Average spread EUR/USD – active 1.1
Average spread EUR/USD – standard 1.1
VIP or active trader discounts No, but 100% deposit bonus is offered
Maximum leverage Up to 1:3000
Account currencies USD, GBP, NZD, AUD, CAD, EUR, JPY, CHF
Instruments Forex, Metals, Stocks, Indices, Energies

 

FIBO Group

FIBO-Group

FIBO Group has been operational since 1998 as a Forex and CFD broker based in Cyprus, with offices around the world.

FIBO Group is regulated by CySeC and MiFID, and client’s investment funds are protected by the Investor’s Compensation Fund.

FIBO Group clients have access to a great variety of tools and features provided by the MetaTrader platforms, as well as cTrader and asset management tools.

FIBO Group offers 6 types of accounts based on unique trading styles, and also caters for traders of Muslim faith and offers demo accounts.

 

Pros and Cons of FIBO Group

✔️Pros Cons
Great selection of account types Lack of educational resources
Multilingual customer support team US clients not accepted
Tight spreads on all accounts
Zero-commission accounts provided

 

Fees and Commissions

Features Prices
Minimum deposit $50
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard N/A
VIP or active trader discounts No
Maximum leverage Up to 1:1000
Account currencies EUR, BTC, GLD, USD, GBP, CHF, RUR, ETH
Instruments Forex, Metals, Crypto, CFDs

 

Forex.com

Forex.com

Forex.com was founded in 2001 and is regulated by NFA, FCA, ASIC, IIROC, FSA and CIMA. Its sister company is known as City Index, and should be used by Australian clients.

Forex.com provides services to citizens from most countries, including the USA, and offers 3 main types of accounts.

Forex.com offers a variety of educational and training resources, including courses based on trading experience and theme-based content.

The customer support team can be reached via live chat, email and telephone.

 

Pros and Cons of Forex.com

✔️Pros Cons
More than 80 currency pairs offered No VPS offered
Active Trader program with cash rebates No account protection for US traders
Great selection of educational resources
Accounts can be created in less than 5 minutes

 

Fees and Commissions

Features Prices
Minimum deposit $50
Average spread EUR/USD – active 0.7
Average spread EUR/USD – standard 1.0
VIP or active trader discounts Yes
Maximum leverage Up to 1:500
Account currencies EUR, GBP, USD, AUD, CHF, JPY
Instruments Forex, Stocks, Indices, Commodities, Cryptocurrencies

 

ForexMart

ForexMart

ForexMart was founded in 2015 as a multi-asset trading platform that facilitates Social and Copy trading and offers advanced charting and analysis tools.

ForexMart is regulated by CySEC and offers Islamic and Demo accounts.

Traders can choose from more than 100 currency pairs with tight spreads and they can trade on the MetaTrader 4 platform, which offers a variety of innovative tools for charting and analysis.

The customer support team can be reached via telephone and email., and clients have access to several tools, including economic calendars, currency converters and market analyses.

 

Pros and Cons of ForexMart

✔️Pros Cons
4 account types offered No US clients accepted
Negative Balance Protection Deposits and withdrawals are not free
Zero-commission trading
No inactivity fees

 

Fees and Commissions

Features Prices
Minimum deposit $1
Average spread EUR/USD – active 0.8
Average spread EUR/USD – standard 0.8
VIP or active trader discounts No
Maximum leverage Up to 1:500
Account currencies USD, EUR, GBP
Instruments Crypto, Energies, Indices, Spot Metals, Forex, CFDs

 

FP Markets

FP Markets

FP Markets is an award-winning broker with Direct Market Access, flexible leverage and tight spreads.

FP Markets is regulated by the ASIC and CySEC and offers ECN trading conditions in favour of its clients.

FP Markets can be accessed from most countries, but clients from the USA, Japan and New Zealand are not accepted.

FP Markets is compatible with MetaTrader 4 and 5, IRESS and the proprietary FP Markets trading app.

FP Markets is a copy trading-friendly Forex broker and Autochartist is provided through the MetaTrader platforms.

FP Markets also offers a unique trading toolbox that includes alarm managers, market managers, tick charts, session maps, VPS and trading terminals.

 

Pros and Cons of FP Markets

✔️Pros Cons
More than 10,000 tradable instruments offered US clients not accepted
No penalty fees for inactivity Fixed spread accounts not offered
24/7 customer support
Tight, raw spreads

 

Fees and Commissions

Features Prices
Minimum deposit $100 AUD
Average spread EUR/USD – active 0.61
Average spread EUR/USD – standard 1.14
VIP or active trader discounts Yes
Maximum leverage Up to 1:500
Account currencies AUD, CAD, CHF, EUR, GBP, JPY, PLN. SGD, USD, IDR, VND, THB, MYR, USD, GBP, RMB (depending on payment method)
Instruments Forex, Shares, Metals, Commodities, Indices, Crypto

 

FXCM

FXCM

 

The FXCM website is user-friendly and easy to navigate, offering clients access to a variety of educational resources, trading tools and popular trading platforms.

The range of trading platforms that can be used with FXCM includes Trading Station, MetaTrader 4 and 5, NinjaTrader, ZuluTrade, TradingView and Capitalise AI.

Beginners have access to a comprehensive library of educational resources, such as workshops, courses, trading guides and innovative trading tools.

FXCM also provides advanced research tools, trading signals, market scanners and live forex charts.

 

Pros and Cons of FXCM

✔️Pros Cons
Compatible with 7 trading platforms No Islamic accounts
Active trader program for high-volume traders Customer support is not 24/7
Supports copy trading
Supports algorithmic trading

 

Fees and Commissions

Features Prices
Minimum deposit $50
Average spread EUR/USD – active 1.3
Average spread EUR/USD – standard 1.3
VIP or active trader discounts Yes
Maximum leverage Up to 1:400
Account currencies USD, EUR, GBP
Instruments Crypto, Commodities, Indices, Forex

 

FXOpen

FXOpen

FXOpen is trusted by over a million active traders from more than 100 countries globally and is regulated by the FCA as a registered member.

Traders are given flexibility with their account types and most major base currencies are supported.

FXOpen offers the opportunity to start trading with as little as $1, along with tight spreads and customer support that is available 24 hours, 5 days of the week.

 

Pros and Cons of FXOpen

✔️Pros Cons
Flexible account types No fixed spreads
Expert advisors allowed

Hedging and Scalping allowed

Limited trading instruments
Cashback program and Forex contests Lack of educational material
Spreads from 0.0 pips

 

Fees and Commissions

Features Prices
Minimum deposit $1
Average spread EUR/USD – active 0.2
Average spread EUR/USD – standard 0.2
VIP or active trader discounts No, but cashback is offered
Maximum leverage Up to 1:500
Account currencies JPY, GBP, EUR, USD, CHF
Instruments Forex, Shares, Spot Metals, Commodities

 

FXTM

FXTM

FXTM is a highly regulated CFD and Forex broker that operates under the supervision of the FCA and CySEC.

FXTM was founded in 2011 and offers three unique account types, which are available to all supported countries.

Each account can also be converted to a swap-free account and traders are given the option to use a zero-commission account with tight spreads.

FXTM is a MetaTrader-friendly Forex broker and traders have access to 62 currency pairs, 172 stock CFDs and 4 Crypto coins.

FXTM caters to new traders by providing a wide range of educational content, such as tutorials, webinars, glossaries and articles.

 

Pros and Cons of FXTM 

✔️Pros Cons
Multilingual web-trading platform Only 4 supported base currencies
Great selection of educational material Penalty fees for inactivity
Negative Balance Protection Limited product offering
Low minimum deposit

 

Fees and Commissions

Features Prices
Minimum deposit $100
Average spread EUR/USD – active 1.0
Average spread EUR/USD – standard 0.8
VIP or active trader discounts Yes
Maximum leverage 1:2000
Account currencies USD, GBP, EUR, NGN
Instruments Forex, Metals, Stocks, Commodities, Indices

 

GO Markets

GO MarketsGO Markets is a MetaTrader Forex broker that was founded in 2006 and is regulated by the ASIC and CySEC.

GO Markets offers an unlimited demo account, as well as two flexible account types that give traders the option to trade with no commission fees and tight spreads.

Traders have access to more than 350 trading instruments from one account and educational material is provided at no cost. 

 

Pros and Cons of GO Markets

✔️Pros Cons
Variety of trading instruments offered Inactivity is penalised
9 base currencies supported Clients from several countries not accepted
No fees on withdrawals and deposits
Referral program with rewards

 

Fees and Commissions

Features Prices
Minimum deposit $200 AUD
Average spread EUR/USD – active 0.2
Average spread EUR/USD – standard 1.1
VIP or active trader discounts No, but 20% deposit bonus offered
Maximum leverage 1:500
Account currencies AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD
Instruments Forex, Shares, Indices, Commodities, Cryptocurrency

 

Grand Capital

Grand-Capital

Grand Capital has been operational since 2006 and accepts a minimum deposit of $10 in 6 major base currencies.

Grand Capital traders are protected by the Compensation Fund and is a Category-A broker that is regulated by Finacom and a member of the Financial Commission.

More than 750,000 traders use Grand Capital and beginners will find it easy to get started if they decide to use the Beginner’s Program.

Grand Capital has a unique offering of promotions, contests and bonus rewards for active traders and clients can choose from a variety of trading instruments.

 

Pros and Cons of Grand Capital

✔️Pros Cons
Trading bonuses with referral programs US clients not accepted 
Compatibility with MetaTrader platform Limited educational resources
Copy Trading supported
Investment portfolios offered

 

Fees and Commissions

Features Prices
Minimum deposit $10
Average spread EUR/USD – active 1.2
Average spread EUR/USD – standard 2.2
VIP or active trader discounts Yes
Maximum leverage 1:500
Account currencies JPY, EUR, USD, RUB, GBP, CHF
Instruments Forex, Cryptocurrencies, Stocks, Indices, Metals, Commodities

 

HotForex

HotForex

HotForex operates under the supervision of four top-tier regulatory bodies and has provided online trading solutions since 2010.

HotForex is a Forex and CFD broker and is trusted by more than 500,00 Forex traders globally.

HotForex offers the opportunity to choose from 6 unique account types and supports Copy Trading.

Professional traders have access to flexible account structures and beginners can practice using their innovative demo accounts.

All HotForex traders can use Autochartist and advanced trading tools for analysis, research and trade management.

 

Pros and Cons of HotForex

✔️Pros Cons
No fees for deposits and withdrawals. Only 2 supported base currencies
Compatible with MetaTrader platforms No video tutorials
Scalping allowed
Beginner-friendly

 

Fees and Commissions

Features Prices
Minimum deposit $5
Average spread EUR/USD – active 1.20
Average spread EUR/USD – standard 0.80
VIP or active trader discounts No
Maximum leverage 1:1000
Account currencies USD, ZAR, USD, NGN
Instruments Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks, ETFs

 

IG

IG

 

IG is an FSCA and FCA-regulated Forex and CFD broker that was founded in 1974.

IG is trusted by more than 300,000 clients and offers access to over 17,000 global markets in Forex, Indices, Shares and Commodities.

IG is compatible with MetaTrader 4 and ProRealTime and supports API trading for more experienced traders.

Beginners can use the variety of educational resources provided by IG, to learn how to trade and how to analyze the markets.

IG offers a comprehensive range of trading articles, tutorials, reports and tools, making it one of the best brokers for new traders.

 

Pros and Cons of IG

✔️Pros Cons
Beginner-friendly Penalty fees for inactivity
Great variety of educational content Product offering is limited
Supports API and Algorithmic trading High spreads
More than 17,000 markets

 

Fees and Commissions

Features Prices
Minimum deposit £250
Average spread EUR/USD – active 0.36
Average spread EUR/USD – standard 0.7
VIP or active trader discounts Yes
Maximum leverage 200:1
Account currencies GBP
Instruments Forex, Indices, Shares, Commodities, Cryptocurrencies, Bonds, ETFs, Options

 

InstaForex

InstaForexSince being launched in 2007, InstaForex has accumulated a client basis of over 7 million active traders.

InstaForex is a highly regulated broker and has won several awards over the years.

InstaForex offers four flexible account types with low minimum deposits and the option to use high leverage.

InstaForex is compatible with MetaTrader and WebTrader platforms and provides a variety of innovative analytics tools and features for more experienced traders.

 

Pros and Cons of InstaForex

✔️Pros Cons
110 currency pairs to choose from Only 2 base currencies accepted
Suitable for beginners High spreads
Great selection of education resources Inactivity fee payable
Flexible account types

 

Fees and Commissions

Features Prices
Minimum deposit $1
Average spread EUR/USD – active 1.9
Average spread EUR/USD – standard 1.9
VIP or active trader discounts No, but a sign up bonus is offered
Maximum leverage Up to 1:1000
Account currencies EUR, USD
Instruments Forex, CFDs, Gold, Silver, Options

 

LCG

LCG_London Capital GroupLCG is an award-winning Forex broker with more than 20 years of experience in the online trading industry.

LCG is regulated by CySEC and FCA, and offers its clients access to more than 7,000 global markets.

Beginners are provided with a variety of educational resources, including webinars, trading guides, tutorials, glossaries and news updates.

LCG clients have access to price alerts, technical indicators and advanced analysis features provided by MetaTrader 4 and the proprietary LCG Trader platforms.

 

Pros and Cons of LCG

✔️Pros Cons
More than 7,000 tradable instruments Limited account types
Regulated by CySEC and FCA Clients from several countries cannot use this broker
Educational resources provided ECN trading requires a minimum deposit of $10,000
Multilingual website

 

Fees and Commissions

Features Prices
Minimum deposit $10
Average spread EUR/USD – active 0.65
Average spread EUR/USD – standard 1.45
VIP or active trader discounts No
Maximum leverage Up to 1:200
Account currencies EUR, GBP, USD
Instruments Forex, Indices, Shares, ETFs, Bonds, Commodities, Spot Metals, Vanilla Options

 

LiteFinance

LiteFinance

 

 

LiteFinance is an ECN broker with offshore regulation that was founded in 2005 in St. Vincent & the Grenadines.

LifeFinance offers an ECN trading account and a Classic account, which can be used with Metatrader 4 and 5 platforms.

LiteFinance provides its clients with a variety of innovative trading and analysis tools, such as Fibonacci calculators, economic news and calendars, and Claws&Horns calculators.

Pros and Cons of LiteForex

✔️Pros Cons
Suitable for amateur traders Not fully regulated
Compatible with MetaTrader platforms Not available to US clients
Advanced analysis tools provided
Multilingual customer support team

 

Fees and Commissions

Features Prices
Minimum deposit $50
Average spread EUR/USD – active 1.8
Average spread EUR/USD – standard 1.8
VIP or active trader discounts No, but deposit bonus offered
Maximum leverage 1:500
Account currencies USD, EUR, MBT
Instruments Forex, Metals, Oil, Stocks, CFDs, Cryptocurrency

 

NordFX

Nord-FXNordFX is a regulated and licensed Forex broker that was established in 2008 and has received more than 50 awards in the last 10 years.

NordFX offers four flexible account types, as well as a demo account, and also supports Copy Trading.

Clients have access to a variety of trading features, such as market news and analysis, trading signals, advanced calculators and currency converters.

Beginners can use the NordFX learning centre to learn more about Forex trading.

 

Pros and Cons of NordFX

✔️Pros Cons
Easy to open an account Limited product offering
Flexible account types offered Not regulated by ASIC or FCA
VPS hosting  Penalty fee charged for inactivity
Supports Copy Trading

 

Fees and Commissions

Features Prices
Minimum deposit $10
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard N/A
VIP or active trader discounts Yes
Maximum leverage Up to 1:1000
Account currencies USD, ETH, BTC
Instruments Forex, Metals, Cryptocurrencies, Indices, Stocks

 

OANDA

OANDAOANDA was established in 1996 as an American Forex broker and is regulated by the ASIC, FCA, IIROC, MFS, FIBO, BVIFSC, NFA and MAS.

 

OANDA is one of the most regulated Forex brokers and has been awarded for client satisfaction and exceptional services.

Creating an account with OANDA is easy and clients can choose from two flexible account types with tight spreads and innovative trading tools.

OANDA uses MarketPulse to provide its clients with market and Forex news, technical analysis and economic calendars.

OANDA offers a variety of educational resources for amateur traders that can be used with free demo accounts.

 

Pros and Cons of OANDA

✔️Pros Cons
9 base currencies supported Inactivity fee charged
Suitable for high-volume traders Only Forex and CFDs offered
No withdrawal or deposit fees
Compatible with MetaTrader 4 

 

Fees and Commissions

Features Prices
Minimum deposit $0
Average spread EUR/USD – active 1.2
Average spread EUR/USD – standard 1.4
VIP or active trader discounts Yes
Maximum leverage EU clients: 1:30

US clients: 1:50

AUS clients: 1:400

Account currencies EUR, USD, GBP, AUD, CAD, CHF, HKD, JPY, SGD
Instruments Forex, CFDs, Indices, Commodities, Bonds, Metals, Futures

 

Plus500

Plus500Plus500 is a CFD broker that is based in Australia and regulated by CySEC. FSA, FCA and the ASIC.

Plus500 is trusted by more than 400,000 active traders and offers over 2,000 tradable instruments to its clients.

Plus500 operates as a highly-regulated, listed Forex broker with over 10 years of industry experience.

Plus500 offers two unique account types, designed for retail traders and professional traders respectively.

 

Pros and Cons of Plus500

✔️Pros Cons
Educational content provided Does not support copy trading, hedging or scalping
Negative Balance Protection offered Inactivity fee payable
16 Account currencies supported
Highly regulated

 

Fees and Commissions

Features Prices
Minimum deposit $100
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard 0.6
VIP or active trader discounts Yes – Rebate program
Maximum leverage Up to 1:300
Account currencies Every major currency 
Instruments Forex, Indices, Cryptocurrency, Commodities, Shares, Options, ETFs

 

Plus Markets

PlusMarkets

Plus Markets is a CFD broker that is regulated by CySEC, MiFID and ICF, and is registered in several international jurisdictions.

Plus Markets’ clients can choose from three unique account types that can all be used on the MetaTrader 4 platform and the Plus Markets Trader platform.

All Plus Market’s accounts include private trading sessions, relationship managers and daily updates from Trading Central.

Plus Markets also offers an innovative trading robot, known as RoboX, that can be used to implement trading strategies and manage risks.

 

Pros and Cons of Plus Markets

✔️Pros Cons
Tight spreads offered Limited product offering
Innovative algorithmic trading robot Not available to USA clients
Trading Central updates provided
Educational resources provided

 

Fees and Commissions

Features Prices
Minimum deposit $200
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard N/A
VIP or active trader discounts No
Maximum leverage Up to 1:500
Account currencies GBP, EUR, USD
Instruments Indices, Shares, Forex, Cryptocurrencies, Commodities, ETFs

 

Rakuten Securities

Rakuten-Securities

Rakuten Securities was established in 2011 as a subdivision of Rakuten, which is a provider of online banking services internationally.

Rakuten Securities is regulated by the ASIC, JFSA and AFSL, and is one of the most popular Forex brokers globally.

Rakuten Securities offers its clients four flexible account types with low minimum deposits, tight spreads and the option to use demo accounts.

Beginners can use the educational resources provided by Rakuten Securities to learn how to trade and experienced traders can learn more advanced techniques.

.

Pros and Cons of Rakuten Securities

✔️Pros Cons
Tight spreads Limited range of products offered
Zero-commission trading No Islamic accounts
Supports Copy Trading Only 4 base currencies accepeted
Negative Balance Protection
Compatible with MT4

 

Fees and Commissions

Features Prices
Minimum deposit $50
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard N/A
VIP or active trader discounts No
Maximum leverage 1:400
Account currencies AUD, USD, EUR, GBP
Instruments Crypto, Indices, Metals, Oil, Forex

 

RoboForex

RoboForex

RoboForex is an award-winning Forex broker that was founded in 2009 and is regulated by IFSC.

RoboForex provides five flexible trading accounts, as well as demo and Islamic accounts, and clients can use MetaTrader, cTrader, R StocksTrader and WebTrader.

RoboForex is trusted by over 800,000 active traders and clients have access from 169 countries globally.

RoboForex offers access to more than 12,000 markets and 7 asset classes.

RoboForex also dedicates an entire section of the website to educating amateur traders and more experienced traders have access to a variety of advanced trading tools.

Pros and Cons of RoboForex

✔️Pros Cons
Flexible account types Not regulated by ASIC or FCA
Great affiliate program USA clients not accepted
Excellent variety of educational content
Negative Balance Protection
Free VPS server

 

Fees and Commissions

Features Prices
Minimum deposit From $10
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard 1.4
VIP or active trader discounts Yes
Maximum leverage Up to 1:2000
Account currencies GOLD, CNY, USD, EUR
Instruments Forex, Indices, Stocks, Metals, Commodities, ETFs

 

TradeNation

TradeNation

TradeNation, previously known as Core Spreads, was established in 2014 and is a highly-regulated Forex broker that is suitable for beginners.

TradeNation offers its proprietary trading platform to clients and guarantees fair pricing, fixed spreads, reliable signals and updated newsfeeds.

Beginners have access to a variety of trading guides, tutorials and trading simulators.

TradeNation offers two account types, tailored for corporate traders and individual, retail traders.

 

Pros and Cons of TradeNation

✔️Pros Cons
No penalty fee charged for inactivity No accounts to choose from
No withdrawal and deposit fees Limited information available on accounts and products
Supports 8 base currencies Leverage levels cannot be adjusted
No minimum deposit required Not available to US citizens
Compatible with MetaTrader 4

 

Fees and Commissions

Features Prices
Minimum deposit $0
Average spread EUR/USD – active N/A
Average spread EUR/USD – standard N/A
VIP or active trader discounts No
Maximum leverage 1:200
Account currencies EUR, DKK, ZAR, AUD, GBP, NOK, SEK, USD
Instruments Forex, Stocks, ETFs, Commodities, Bonds

 

XM

XM

 

XM is a fully regulated and licensed broker that has received many awards since being launched in 2009.

XM is compatible with 16 innovative trading platforms and supports more than 30 international languages.

XM is trusted by over 5 million clients from 196 countries, and traders are rewarded with referral programs, deposit bonuses, loyalty programs and free VPS services.

Amateur traders have access to a variety of educational materials and training content that is offered for free.

XM clients can use MetaTrader platforms or choose from the innovative XM platforms provided.

 

Pros and Cons of 

✔️Pros Cons
More than 1,000 trading instruments Penalty fee for inactivity
Tight spreads No Crypto trading
Compatible with MetaTrader platforms
Highly regulated broker
Great selection of educational content

 

Fees and Commissions

Features Prices
Minimum deposit $5 
Average spread EUR/USD – active 0.8
Average spread EUR/USD – standard 1.6
VIP or active trader discounts Yes
Maximum leverage 1:888
Account currencies USD, EUR, GBP, JPY, CHF,‎

AUD, HUF, PLN, RUB, SGD, ZAR

Instruments Forex, Stock, Commodities, Indices, Precious Metals, Energies, Shares

 

Conclusion

This list of the 30 Best Forex Brokers with Low Minimum Deposits can be used to choose a Forex broker that meets your unique trading needs.

These brokers give you an opportunity to enter global markets with low minimum deposits so that you can start trading without the high risks.

If you are new to trading and would prefer not to use real money, most Forex brokers offer demo versions of accounts or the option to make an account with a low minimum deposit.