15 Best Low Minimum Deposit Forex Brokers

 

This review explores the 15 Best Low Minimum Deposit Forex Brokers 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.

 

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

 

Alpari

Alpari 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 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:

✔️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

 

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

 

Axi

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Conclusion

This list of the 15 Best Low Minimum Deposit Forex Brokers 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.

Good luck with your trading!

 

Disclaimer

Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.

The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.