HomeForex Account TypesBest Micro Forex Brokers 2021

Best Micro Forex Brokers 2021

Below is a list of Forex brokers who offer mini and micro accounts as low as $1 USD and under $1000 and mini lot size trading of 10 000 units or less.

Lot size reference:
1 lot = 100k = 100 000 units (standard lot)
0.1 lot = 10k = 10 000 units (mini lot)
0.01 lot = 1k = 1000 units (micro lot)

1
Min. Deposit
$250
Exclusive promotion
Our score
10
Leverage
400:1
New accounts
Spreads
0.25
PIPs
Regulations
CFTC
Forex Pairs
11+
No Fee
Start trading
Pros:
Regulated by CFTC
Low fees and minimums
A good selection of educational content, including videos and webinars
Payment methods
ACH, Debit Card, Wire Transfer
Full regulations list:
CFTC
Trading on Nadex involves financial risk and may not be appropriate for all investors.
2
Min. Deposit
$10
Exclusive promotion
Our score
9.3
Leverage
500:1
New accounts
Spreads
0.8
PIPs
Regulations
Forex Pairs
55+
No Fee
Start trading
Pros:
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Payment methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
3
Min. Deposit
$200
Exclusive promotion
Our score
8.7
Leverage
500:1
New accounts
Spreads
0.5
PIPs
Regulations
FSPR, FMA New Zealand
Forex Pairs
27+
No Fee
Start trading
Pros:
BlackBull Markets’ unique feature lies in its stated goal of delivering an “institutional” trading experience to retail clients
No-Dealing Desk Broker (NDD), with Straight Through Processing (STP) all done on a true ECN
State of the art Equinix servers, based in New York (NY4), London (LD5) and Tokyo (TY3)
Payment methods
Mastercard, Visa, Bank Transfer, Neteller, Skrill, UnionPay, FasaPay
Full regulations list:
FSPR, FMA New Zealand
4
Min. Deposit
$10
Exclusive promotion
Our score
8.5
Leverage
500:1
New accounts
Spreads
0.7
PIPs
Regulations
Forex Pairs
55+
No Fee
Start trading
Pros:
0% Commission Account
Low Spreads
Eco-Account Option
Payment methods
Bitcoin, Credit Card, Debit Card
Full regulations list:
Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.
5
Min. Deposit
$100
Exclusive promotion
Our score
7.9
Leverage
30:1
New accounts
Spreads
0.7
PIPs
Regulations
NFA, CFTC, FCA
Forex Pairs
No Fee
Start trading
Pros:
Open an account in less than 5 minitues with the global Market leader since 2001
Trade on one of the world's most popular trading platforms with access to dedicated support and integrated trading tools exclusive to FOREX.com
We’ve spent over a decade investing in technology and building a deep network of liquidity partners, so we can consistently quote tight spreads in most market conditions.
Payment methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Full regulations list:
NFA, CFTC, FCA, FSA, IIROC, CIMA, FFA Japan, MAS, SFC of Hong Kong
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

Benefits of Trading Mini Accounts and Mini Lots in Forex

It is often very convenient for beginner traders to start off with micro Forex broker accounts. By investing little money and trading mini lot sizes Forex traders are able to put to test their own knowledge and trading skills without undertaking serious financial risks.

Micro accounts are also a good way to test a Forex broker as well: How good is the trading platform? Order execution and services overall? Only live trading can provide answers.

By starting with mini lot sizes, traders learn to control risks and money flow more effectively and without unnecessary stress, which is always present when trading standard size lots. Coping with risks and emotions also need practice, mini and micro accounts and mini lots allow this practice to be effective.

Forex brokers who offer micro accounts, and, more importantly, mini lots provide more freedom and flexibility to their clients allowing them to have even more control over their own investments and risks.
What is better than a 0.1 lot, known as a mini-lot? 🙂 An even smaller lot! Some Forex brokers allow to trade with as little as 0.01 lot (micro lots), and some don’t have any limitations for lot sizes at all!

For traders who look to open an account under $1000 dollars, it is highly recommended to start trading with micro-lots (0.01 lot) or less.

The next figures should explain the math behind risks when trading with different lot sizes on mini accounts:
1st Account balance $250, min lot size 0.1 lot (each pip costs on average $1).
2nd Account balance $250, min lot size 0.01 lot (each pip costs on average $0.10).

Typical trading situation: 2 consecutive losses of just 10 pips each + 4 pips spread (2 pips for each trade) = 24 pips loss.

1st account, where the cost of each pip was $1 would lose $24, which is 1/10 of the account being lost in no time and with just 10 pips move against a trader!
(10 pips in Forex is nothing! With intra-day trading strategies Forex traders lose on average from 15 to 25 pips per move!)

2nd account, where the cost of each pip was $0.1 has lost just $2.4, which is not going to affect the balance much.

Remember about the risks, chose a micro forex broker not just by a suitable minimum account size, but also by a lot size, depending on how much you’re going to invest.