Forex Brokers With $1 Minimum Deposit

Not many investors have large sums of money to invest in the forex market. Additionally, it would be challenging to test out new trading strategies with large sums of money. This is where brokers that require low minimum deposits come in. Brokers with a minimum deposit of $1 are best suited for these purposes. Even with the minimum deposit of a broker, there are still other things to look at. In this review, we look at some of the best forex brokers with a $1 minimum deposit. We will look at the trading conditions and regulatory status of the companies to see which ones stand out.

HFM

HFM does not have a minimum deposit requirement, allowing traders to start investing with any amount they choose. This means that a trader with $1 can start trading with this broker. Traders can use a variety of payment options to fund their accounts including wire transfers, credit/debit cards, skrill, and cryptocurrencies, among others.

This broker notably provides traders with access to over 1,000 market instruments across various asset classes. Investors can trade CFDs on forex, bonds, commodities, indices, energies, metals, cryptocurrencies, stocks, and ETFs. The available trading platforms include MetaTrader 4, MetaTrader 5, and the HFM Platform.

On another note, HFM offers a variety of trading accounts to suit different needs and preferences. The Premium and Cent accounts provide spreads starting at 1.2 pips with no commissions. In regions where the Top-up bonus account is available, spreads start from 1.4 pips and are also free of commission. The Pro account provides spreads from 0.5 pips, while the Pro-Plus account offers spreads starting from 0.2 pips, both commission-free. Lastly, the Zero account features spreads from 0.0 pips, with a commission of $3 per side per lot.

Traders are always safer when they are investing with brokers that have regulations from multiple organisations. In this case, HFM does not disappoint. It features regulations from the FCA in the UK, the CySEC in Cyprus, the DFSA in the DFC, and the FSCA in South Africa, among others.

69% of retail investor accounts lose money when trading CFDs with this provider.

XTB

XTB is one of the big brokers that has no minimum deposit requirement, which means you can start with as little as $1. The company is regulated in the UK by the FCA, in Cyprus by the CySEC and in Belize by the FSC.  XTB offers nearly 2000 CFDs on forex, cryptocurrencies, indices, commodities, shares, and ETFs. The trading platform available to clients on XTB is the xStation 5 built by XTB itself.

 

The XTB spreads start from 0.8 pips on major currency pairs and there is no commission fee when trading forex. XTB is one of the world's largest FX and CFD brokers listed on the stock exchange, with a presence in more than 13 countries.

 

69-74% of retail investor accounts lose money when trading CFDs with this provider.

 

Pepperstone

Pepperstone offers a variety of free deposit options with a minimum deposit of $0 USD for all of its accounts, with the exception of the spread betting account (available to residents of the UK only), where the minimum deposit is $200. It is regulated and authorised by the CMA in Kenya, Dubai Financial Services Authority (DFSA) in the United Arab Emirates, the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the UK and by the CySEC in Cyprus.

 

Pepperstone provides traders with a number of platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView and cTrader. Here clients can trend more than 800 CFD instruments, including forex, indices, stocks, energy, and commodities. There are a number of ways clients can fund their Pepperstone accounts including credit/debit cards, Union Pay, POLi, BPay, PayPal, Neteller, Bank transfer, M-Pesa and Skrill.

There are two main trading accounts on Pepperstone. The standard trading account offers clients spreads from 1.0 pips on major currencies with no paid commission. Pepperstone also offers the razor account where the spreads start from as little as 0.0 pips and a low commission fee paid, which is $3.50 per side per lot.

75.9% of retail CFD accounts lose money

IG Group

IG Markets is one of the earliest international brokerages to receive regulation by the FCSA in South Africa and is governed by two of the most established international organizations. Since 2001, IG Markets has been subject to FCA, ASIC, and FSCA regulations. On IG, there is no minimum deposit for bank deposits. This means that even a $1 deposit is accepted on IG. However, if you are funding your account with a credit, debit, or PayPal, the minimum deposit is US$300. Bank Transfer deposits are free on IG, and the account balance is updated after three business days.

 

 

IG allows clients to trade over 18,000 market instruments across a variety of markets. This broker allows clients to trade CFDs on forex, indices, commodities, shares, cryptocurrencies, and more. This accommodates all clients, whether they want to invest in one market or several simultaneously. IG offers some of the best trading platforms, including the MetaTrader 4, ProRealTime, L2 Dealer, and the ProgressiveWebApp. Here, traders can pick and choose the platform that best suits their investment needs. Moreover, IG provides clients with a trading platform available on all types of devices. This makes sure they accommodate all kinds of traders. The spreads on IG are not exorbitant and most traders will afford to trade on this platform. The average spreads on IG can fall as low as 0.6 pips for some major currency pairs.

70-74% of retail investor accounts lose money when trading CFDs with this provider.

OANDA US

OANDA is a global forex broker with over 25 years in the market. The company has an outstanding reputation for innovation, excellent customer care, and transparent pricing. Additionally, the company has a great reputation regarding its regulatory status. It has regulations from the NFA and CFTC in the US, the FCA in the UK, the ASIC in Australia, and the IIROC in Canada. OANDA provides three trading platforms together with a broad selection of instruments, including forex and cryptocurrencies. The trading platforms available to clients include MetaTrader 4, MetaTrader 5 and TradingView.

 

OANDA offers two main types of accounts, with a demo account available to clients who want to try out the company’s services. The Premium account is mainly for seasoned experts, while the Standard account suits all kinds of traders. The minimum deposit amount and the availability of extra services are the primary variations. The Standard Account has a $1 minimum deposit. The spread is always floating for currency pairs, with a minimal spread of 1.1 pips. This is not exorbitant and most traders can afford this. There are 3 ways to fund accounts and withdraw funds. These include bank transfers, credit and debit cards (Visa or MasterCard), and PayPal.

 

 

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

 

Axi

Global online broker Axi provides brokerage services for shares, forex, cryptocurrencies, gold, and commodities. Several international regulators have granted permission to the Axi Group of enterprises. These include the ASIC in Australia and the FCA in the UK. Axi has two main accounts to choose from. These include the Standard account, designed for general traders, and the Pro account, best suited for professional traders. With a $1 minimum deposit, traders of all experience levels can trade with this broker. There is no deposit fee charged on Axi.

 

You have a number of options when you want to deposit money into your Axi account. These options include credit/debit cards, bank transfers, Neteller, Skrill, Sofort, GiroPay, iDeal, Polish Internet Banking, Global Collect, and China Union Pay. The most widely used trading platform in the world, MT4, is available on all Axi accounts.

Final thoughts on Forex Brokers With $1 Minimum Deposit

Forex brokers that support small minimum deposits are necessary for the forex space. Not all traders have large sums of money to invest. Being able to top up an amount as tiny as $1 gives clients a low entry point. Additionally, it allows clients to test out new trading strategies without risking large investment amounts. Nonetheless, always make sure you invest with a broker that best suits your investment needs. Make sure the company is under strict regulation and offers the best trading conditions in the market. This is the best way to protect your investment.

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