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The Best Micro Forex Brokers in 2021

If you are looking for the best micro forex brokers, the following section is for you. Here you will find detailed information and a comparison of the best micro forex brokers. We’ll briefly discuss how micro forex brokers work and then help you in choosing the right platform for you.

The demand for micro-accounts for forex trading is high among new traders and risk-free traders. Micro and mini accounts have been around for a long time and are a significant part of the forex market. This article will act as a guide for traders who want to know which micro forex brokers are suitable for them.

Our list of the Best Micro Forex Brokers

Most micro accounts do not require deposits of any significant amount, and even if they do, the amounts are generally small, like $50. Although standard banking practices are more relaxed in regards to minimum deposits, there are instances where minimum deposits can range anywhere from $500 to $10,000.

All types of trading accounts require that the minimum volume to be traded is one lot, but the maximum volume is typically greater for an account with more equity. In order to allow a trader to profit from micro trading, he or she can place longer-term positions that take advantage of short-term price fluctuations.

Therefore, micro forex brokers play an important role by connecting traders to the massive forex market. The below list has some of the best micro forex brokers based on their service, credibility, market insight, trading resources, etc. 

1
Min. Deposit
$10
Exclusive promotion
Our score
10
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.
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
$200
Exclusive promotion
Our score
8.5
Leverage
30:1
New accounts
Spreads
1
PIPs
Regulations
CySEC, FCA
Forex Pairs
No Fee
Start Trading
Pros:
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
5
Min. Deposit
$10
Exclusive promotion
Our score
7.9
Leverage
500:1
New accounts
Spreads
0.7
PIPs
Regulations
Forex Pairs
55+
No Fee
Start Trading
Pros:
Can fund with BTC
64 global companies including Netflix and Amazon
Free deposits and withdrawals
Payment Methods
Credit Card, Debit Card, Bitcoin, Wire Transfer
Full regulations list:
EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment. Please ensure you fully understand the risks involved with leveraged trading and ensure this is not detrimental to your personal or institution's financial well being.

What Is a Micro Forex Broker?

Micro forex brokers provide services to retail investors who don’t want to risk a large amount of money. The smallest contract of micro accounts is known as a micro lot. With only tiny deposits, the traders can trade freely on the platform given by the respective broker.

The micro-transactions can be as low as $5. Thus, micro brokers are often sought by new traders who just entered the market. Unlike high leverage forex brokers, there is no high-risk present during trading.

Micro forex brokers serve to connect traders with the market and handle their transactions in the same manner as regular forex brokers.

How Does a Micro Forex Broker Work?

Forex trading with a micro account allows traders to begin trading with a smaller amount of capital. Traders will also sometimes use micro accounts to experiment with new brokers with a live account, but with less risk.

Traders can open trades with contract sizes of 1,000 units rather than the larger standard lot of 100,000 units with micro-accounts. This helps traders fine-tune their trading strategy by trading in smaller deposit amounts before trading in larger account sizes.

A micro-investing account that is fully leveraged can generate massive profits if you seek out extreme leverage, but losses can be greatly amplified as well. These trading accounts serve as a great starting point for people new to trading, offering them a general understanding of risk, as well as exposure to market volatility.

Micro-investing is popular because it provides even small-scale traders with the ability to trade like professionals. Anyone with a standard trading account can trade forex pairs in the same way as a regular trader, but with a much smaller equity stake.

Key Features to Look for In a Micro Forex Broker

Here, we'll learn all of the important factors to consider when choosing a micro forex broker. Many types of micro forex brokers exist, but not every broker is suitable for everyone.

You should look for a forex broker that offers the following features, while looking for the best micro forex brokers, consider these three essential things:

  1. Credibility and reputation

  2. Commission structure

  3. The trading platform

Forex brokers that offer these three characteristics are greatly valued in the market. There remains a huge risk of losing money if the broker lacks credibility in the market. For someone new to trading, it is crucial to comprehend how the trading platform functions.

Look at what the platform provides and consider its available tools and features. Platform usage should be free of charge. Many forex brokers allow you to test the market with a demo account. That is one of the essential qualities of a good forex broker.

A good broker will provide you with a better understanding of the platform and the market in general. When it comes to commission structure, a beginner trader or a risk-free trader should be fairly commissioned by the forex broker.

Pros & Cons of Using Micro Forex Brokers

Pros

Gain exposure to real-life market experiences while limiting trading losses.
Free access to trial or demo accounts
Free educational resources
Opportunity to trade with low capital

Cons

Limits profit potential
In a micro account, spreads are normally higher than on a standard account.
Infrequent scam risk

How to Choose the Best Micro Forex Broker for Me?

The micro forex broker you choose should be well regulated. The licensed and regulated brokers help ensure there are no scam risks for customers. Despite the low risk, if you are focusing on earning money, the two main factors to look for is credibility and reliability.

The well-regulated brokers generally fill the requirements. Since most micro forex traders are sought by beginner traders, we believe that high leverage micro-accounts pose a challenge, thus you should choose your broker carefully and among the best-regarded, regulated brokers.

Because they are not supervised by any of the authorities, unscrupulous, non-regulated, or offshore brokers can make trades or blow an account at will, no matter how generous the offer.

How to safely use Micro Forex Brokers to Make Money Online Trading?

In order to remain profitable while trading, it is important to focus on several factors. The first factor is proper time and money management. Even if you’re trading with low capital, there is still a risk of losing money. Therefore, you need to choose a suitable micro forex broker who can make proper decisions. To have a good understanding of the market, you will need to conduct a substantial amount of market research. You should first identify the secure micro forex brokerages that are regulated and secure. If you know how and where the money flows through the brokers, it becomes harder to get scammed or incur a loss. Moreover, you must also know when to initiate and exit trades.

Conclusion

Forex trading is not without risk, and you should not ignore this. No system in forex trading guarantees a 100% profit. Follow trades from a successful trader, and you will most likely lose money. 

Thus, you should have a diverse portfolio, and you should also make regular withdrawals to help ensure that your funds stay away from the platform.

Frequently Asked Questions

  1. No, not all of the micro forex brokers are regulated.

  2. There is no one best micro forex broker in the market. It depends on the trader’s goal in trading.

  3. Yes, they do. Most of the micro forex brokers allow trading in stocks, commodities, etc.

  4. Opening an account is simple. The majority of platforms provided by the brokers will include specific information on how to open an account on the platform.