Best Micro Forex Account Brokers

Trading financial markets can be a daunting endeavour. Most accounts on forex broker sites require investors to trade using high amounts of money. Luckily, some forex brokers allow clients to trade on micro accounts which support micro lots. These accounts allow people to trade real market assets without risking a lot of money. Hence, they can practice new trading strategies on the real market.

In this review, we will be looking at the best forex brokers offering micro-accounts. We will also look at the trading conditions provided by the brokers including the fees, regulations, and available assets. But first, let’s look at what micro accounts have to offer.

What is a Micro Account?

In trading, a standard lot represents 100,000 units of a currency. In contrast, a micro lot represents 1,000 units of a currency. This is 1,000 times smaller than a standard lot, which allows clients to trade without investing a lot of money. This is perfect for clients who want to practice new trading strategies without risking a lot of money. That is the main advantage of using micro forex accounts. With that, let’s look at some of the best micro forex account brokers.

Exness

Clients can start trading on Exness with a small deposit of $10. This is a favorably low capital requirement for most traders. Exness has two main standard trading accounts, the Standard account and the Standard Cent account. Both of these accounts allow clients to trade with a minimum lot size of 0.01 lots. This is perfect for traders looking to invest small amounts at a time in the market. It is also perfect for traders looking to practice new trading strategies without risking a large capital.

These micro accounts on Exness are very attractive. However, this is not the only attractive feature of Exness. This broker has some of the best trading platforms in the market. These include the Exness Trader, MetaTrader 4 and MetaTrader 5. Additionally, Exness has a wide variety of trading instruments available for trading. Clients can trade assets in the forex, metals, crypto, energies, stocks, and indices markets.

Further, Exness is a regulated forex and CFDs broker. This company has regulatory licenses from the FCA, the CySEC, the FSA, the FSCA, and the FSC. Having multiple regulatory licenses is a great sign from a forex broker. It shows that a company is willing to play by the rule of law.

Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.

eToro

eToro also allows clients to trade on micro forex accounts by offering minimum lots as small as 0.01 lots. On top of that, eToro provides some of the best trading conditions in the world today. The company is now one of the biggest brokers in the space with over 20 million users. eToro is heavily regulated by some of the best organizations in the world. These include the FCA, the CySEC, the ASIC, the FINRA and the SEC. This impressive regulatory status is a good sign from eToro. It shows that the company obeys the rule of law. It is one of the reasons the company attracts all kinds of traders in the space.

Regarding trading instruments, eToro does not disappoint. People can trade CFDs on forex, crypto, stocks, commodities, ETFs, and indices or purchase real stocks and cryptocurrencies. This way, eToro accommodates all kinds of traders. The clients on this platform can greatly and easily diversify their portfolios.

eToro also provides one of the best trading platforms in the industry as it comes with the CopyTrader technology. This allows traders with no experience and in a rush to copy the trades of other top-performing users. eToro is probably the best broker offering copy trading abilities.

79% of retail CFD accounts lose money

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs (such as forex, commodities and stocks).

FP Markets

FP Markets is a popular broker with regulations by the CySEC in Cyprus and the ASIC in Australia. This makes FP Markets one of the best forex and CFDs brokers in the world. With over 10,000 tradable instruments, FP Markets has one of the largest collections of tradable assets. Clients can trade CFDs in shares, metals, commodities, indices, cryptocurrencies, bonds, and ETFs.

For traders looking to invest small amounts at a time, FP Markets has the perfect accounts for that. There are two main trading accounts on FP Markets. Both of these accounts allow trading a minimum lot size of 0.01 lots. These are some of the best micro accounts in the market. They are ECN accounts which come with the advantage of more control in the market. FP Markets also provides clients with some of the best trading platforms in the market. Clients can trade using the WebTrader, MetaTrader 4, or the MetaTrader 5 platforms. These platforms are top-tier as they come with many charting tools to help clients make decisions when trading.

75.3% of retail CFD accounts lose money

OANDA

OANDA has been offering brokerage services for over 35 years now. The company has impressive regulation from some of the top regulators in the world. OANDA has regulatory licenses from the NFA and CFTS in the US, the FCA in the UK, the ASIC in Australia, and the IIROC in Canada. We always insist that regulations alone are not enough. However, this company’s longevity and clean reputation give it good standing among traders.

Luckily, OANDA allows clients to trade in several financial markets. This allows interested clients to easily diversify their portfolios. Clients can trade over 71 currency pairs, 11 different commodities, and 7 different indices. They can trade these instruments on some of the best trading platforms in the world. These include the fxTrade App, MetaTrader 4, and MetaTrader 5. This is a great selection of trading platforms.

Even better, OANDA allows clients to trade on micro forex accounts. There are five main accounts on OANDA, three of which allow clients to trade lots as small as 0.01 lots. These include the Standard account, the Core account, and the Swap-free account. It is important to note that the Core account charges a commission of $40 per million traded.

XTB

XTB also offers clients micro forex trading accounts. It is definitely one of the best micro forex account brokers in the market today. The company has regulations in multiple countries including the UK, Cyprus, Poland, and Belize. In the UK it is regulated by the FCA, the CySEC in Cyprus, the KNF in Poland, and the IFSC in Belize. Additionally, XTB has a great collection of market assets on its website. Clients can trade 48 different currency pairs, indices, commodities, and CFDs in stocks, cryptos, and ETFs. They can trade these assets on one of the best trading platforms in the world, the xStation. This platform is an in-house-produced platform that is powerful and fast in execution times.

There are two main accounts on XTB which are both micro accounts. These are the Standard and Swap Free accounts. These micro forex accounts on XTB allow clients to trade a minimum lot size of 0.01 lots. The main difference between these two accounts is the spreads associated with each account. The Standard account features spreads starting from as low as 0.5 pips while the spreads on the Swap Free account start from 0.7 pips.

74–89% of retail investor accounts lose money.

AvaTrade

AvaTrade is also among the best micro forex account brokers in the market today. The company allows clients to trade minimum lot sizes as small as 0.01 lots. This ensures the company accommodates traders looking to trade small amounts at a time. This feature is available to its more than 300,000 clients around the world. AvaTrade is regulated by the Central Bank of Ireland, the BVIFSC, the ASIC, the FSCA, and the CySEC, among others. Regulations alone are not enough. Still, you should only trade financial markets using regulated brokers. They are much safer than brokers without regulations.

Further, AvaTrade offers a great lineup of financial markets available to its clients. They have access to CFDs on forex, cryptocurrencies, commodities, stocks, indices, bonds, ETFs, and Vanilla FX Options. This is a great collection of trading instruments for clients who want to invest in multiple markets at the same time. It is also perfect for clients who want to invest in a single market at a time.

Clients also have access to the MetaTrader 4 and MetaTrader 5 platforms on AvaTrade. That is on top of AvaTradeGo. These are great trading platforms for both seasoned and beginner traders. As an added advantage, Avatrade offers some of the lowest spreads in the market starting from as low as 0.9 pips for some major currency pairs.

XM

XM is another micro forex account broker with great offers. This broker has two accounts that allow clients to trade a minimum trade size of 0.01 lots. These include the Standard account and the XM Ultra Low account. The minimum deposit for both these accounts is $5 and they do not have commissions. However, the spreads are different on these two accounts. They start from 1 pip on the Standard account and 0.6 pips on the XM Ultra Low account.

Traders can invest in a variety of markets on XM. They can trade over 1,000 trading instruments in 8 different markets. These include forex, stocks, indices, shares, cryptocurrencies, commodities, precious metals, and energies. Investors can diversify their portfolios by investing in multiple markets at the same time. Further, XM provides clients with two of the greatest trading platforms in the industry, the MetaTrader 4 and MetaTrader 5 platforms. These are available on PC, MacOS, Android, iOS, and Tablets. All types of traders are accommodated here.

Finally, we look at the regulatory status of XM. Luckily, this company has regulations from the CySEC, the ASIC, and the FSC. The CySEC and the ASIC are two of the top financial regulators in the world. While regulations on their own are not enough, it is a good sign to have authorization from these two watchdogs.

Forex.com

Forex.com is a globally recognized forex broker under close regulation by some of the best regulators in the market. The company is regulated by the CFTC and the NFA in the USA, the FCA in the UK, the IIROC in Canada, the CySEC in Cyprus, and the ASIC in Australia. All these regulators are top-tier financial watchdogs. This makes Forex.com one of the best brokers in the market today. Forex.com allows clients to trade micro lots on currency trading. Traders can trade a minimum trade volume of 0.01 lots on this platform. As mentioned, this allows clients to practice trading without risking a large amount of their investment. This type of account is also perfect for traders who don’t have a large capital to invest.

There are not many markets to invest in on Forex.com. Clients can only invest in three main markets which include the forex, gold and silver, and futures and futures options markets. Nonetheless, Forex.com is one of the best micro forex account brokers in the market. After all, it gives clients access to three of the industry-standard trading platforms. These include the Forex.com Trader, WebTrader, and MetaTrader 4.

74–89% of retail investor accounts lose money.

FXTM

Closing out our list of micro forex account brokers is FXTM. FXTM has three main trading accounts: the Micro account, the Advantage account, and the Advantage Plus account.All of these accounts feature a minimum trade volume of 0.01 lots. The micro account only allows clients to trade forex, metals, commodities, FX indices, and stock baskets. However, the other accounts allow clients to trade all available markets including stocks and stock CFDs.

The trading software available to clients on FXTM include the MT4, MT5, and the FXTM Trader which are available on PC, MacOS, Tablets, and Mobile. This ensures that FXTM caters for all types of traders on all kinds of devices. Additionally, FXTM also accommodates traders looking to trade on ECN accounts. Today, it is one of the best ECN forex brokers in the industry. In terms of regulations, this company does not disappoint. It has regulations from two of the best regulatory organizations in the world, the FCA in the Uk and the CySEC in Cyprus. This regulatory status gives FXTM a good reputation among traders.

Final Words on Micro Forex Account Brokers

Micro forex accounts are crucial for traders who do not have large capitals to invest in the market. These accounts are also perfect for traders looking to practice new trading strategies using small amounts of money. These are the main advantages of micro forex accounts. On the other hand, the main disadvantage is low profits on micro forex accounts.

In this review, we listed nine of the best micro forex account brokers in the market today. Additionally, we looked at the trading conditions offered by these brokers including the trading instruments available and the platforms available. Finally, we looked at the regulatory status of the brokers. The brokers listed above met our criteria for the best micro forex account brokers in the market. Still, we encourage you to do your own research as this is not an exhaustive list. Whether a broker is on this list or not, do your due diligence before you invest.



Michael
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