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27 Best Forex Brokers with Micro Accounts

 

Overview

A micro-Forex account can be very useful even if you have enough trading capital for a standard account.

 

 

It is much easier to implement conservative position sizing techniques with micro-lots. Some trading strategies require simultaneous creation of tens of market positions; in this case micro-lots will definitely help to size and scale the positions adequately.

 

 

Additionally, an option to open a micro account with a Forex broker can turn out to be useful if you want to test its execution, as these accounts support and deposit/withdrawal speed without risking too much capital.

In this article, we explore the 27 best forex brokers which offer micro accounts in 2020.

 

Here are our Top 10 Handpicked Best Forex Brokers with Micro Accounts:

 

Let’s get started with the full breakdown of the 27 Best Forex Brokers with Micro Accounts.

 

Exness

 

Overall Rating

4.9/5

Rated #2 of 
Recommended FX Brokers

💰Minimum Deposit

$10

💰Sign-up bonus

No

🌐 Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

97

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker Website

 

Overview

Founded in 2008, Exness is a broker which has since gained steam in the market and now boasts nearly 60,000 active client accounts from all over the world.

Traders gravitate towards Exness due to its regulatory oversight and licensing from the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

Exness offers several flexible account types and financial instruments to suit various strategies.

The Exness Standard Cent account is designed for newbie traders as it allows them to trade smaller volumes with much smaller trading units (micro-lots). This account has a low minimum deposit of just 1 USD. Your orders will be executed with market execution.

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated
Tight spreads
Over 130 currency pairs

 

Features

Feature Information
Regulation CySEC, FCA
Minimum deposit from $1
Average spread from 1.3 pips
Commissions from 3 USD and 10 USD per 1 lot for CFDs
Deposit/Withdrawal Fees None
Maximum Leverage 1:2000
Bonuses Standard +10% Bonus Programme
Customer support 24/5

 

InstaForex

 

Overall Rating

4.8/5

Rated #40 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

CySEC, FSC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

4

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️Visit Broker

 

Overview

InstaForex specializes in providing services for trading in financial markets, especially in forex.

At the moment, InstaForex is a truly global brand with over 150 offices in more than 20 countries and an acknowledged leader in its field with numerous industry and business awards.

Good trading conditions, combined with 24/7 support, innovative trading tools, and an attractive system of bonuses and promotions, make InstaForex the broker of choice for 2,000,000 traders all over the world.

 

Pros and Cons

✔️PROS ❌CONS
Relatively high maximum leverage

No minimum deposit

Reputable regulation

 

Features

Feature Information
Regulation CySEC
Minimum deposit from No minimum deposit
Average spread from Average floating 0.8 pips
Commissions from ‎None
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses 30% Deposit Bonus
Customer Support 24/5

 

IQ Option

 

Overall Rating

4.7/5

Rated #247 of
Recommended FX Brokers

💰Minimum Deposit

$10

🌐 Regulators

📱 Trading Desk

Own Platform

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

 

Overview

Launched in 2013, IQ Option has established a solid reputation as a leading Forex and CFD trading broker.

Over the years, IQ Option has expanded its services to many instruments, including Forex, stocks, cryptocurrency, commodities, and ETFs.

The platform is recognized for its wide range of assets, intuitive interface, seamless trading apps for desktop/mobile, and outstanding customer service. In addition, it offers some of the lowest spreads in the industry.

 

Pros and Cons

✔️PROS ❌CONS
Well regulated

Low minimum deposit

Customer support can be unresponsive

 

Features

Feature Information
Regulation CySEC
Minimum deposit from $10
Average spread from Floating spreads from 0.01 pips
Commissions from 0.6%
Deposit/Withdrawal Fees $31 withdrawal fee for bank transfer
Maximum Leverage 1:500
Bonuses None
Customer Support 24/5

 

LiteForex

 

Overall Rating

4.7/5

Rated #204 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

CIF

📱 Trading Desk

Meta Trader 4, Meta Trader 5

Crypto

Yes

📈 Total Pairs

84

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

LiteForex Investments Limited is an established CFD and forex broker. Clients can trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms using multiple deposit and withdrawal methods.

There is a good range of tradable forex and CFD assets, plus the MT4 & MT5 platforms. The website is easy to navigate, the support function easily accessible and there are multiple free analysis tools.

The LiteForex Investments Limited brand is largely inclusive and despite its international presence, remains tailored.

 

Pros and Cons

✔️PROS ❌CONS
Social trading available

MetaTrader 4 and 5 are available

Multilingual customer support

Limited trading instruments

No VPS available

 

Features

Feature Information
Regulation Marshall Islands Business Corporation Act
Minimum deposit from $50
Average spread from 1.9 pips
Commissions from No commissions
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses 100% forex deposit bonus
Customer Support 24/5

 

AvaTrade

 

Overall Rating

4.8/5

Rated #1 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, FSA, CBI, BVI,FSCA,FRSA,CYCES, ISA, JFSA

📱 Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

📈 Total Pairs

55+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

AvaTrade is an award-winning online broker offering Contracts for Difference (CFDs) on Commodities, Stocks, Indices, Cryptocurrencies, and more. The company is regulated across 6 jurisdictions with a global clientele in over 150 countries.

Traders benefit from tight spreads, easy deposit methods, multilingual customer support, 1000+ instruments, immediate execution of positions, and access to live liquidity through a wide range of platforms.

AvaTrade provides multiple online forex trading platforms including MT4, MT5, DupliTrade, WebTrader, AvaOptions, and the AvaTradeGO mobile app – there’s something for everyone. Forex Traders also enjoy real-time updates to stay on top of the market.

 

Pros and Cons

✔️PROS ❌CONS
Broad range of tradable instruments High EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

 

Features

Feature Information
Regulation Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from No commission on Forex
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses First Deposit Bonus
Customer Support 24/5 – multilingual

 

Easy Markets

 

Overall Rating

4.9/5

Rated #18 of
Recommended FX Brokers

💰Minimum Deposit

$100

🌐 Regulators

CySEC, ASIC, BVI, FSA

📱 Trading Desk

MetaTrader 4, TradingView

Crypto

Yes

📈 Total Pairs

275+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Easy Markets is an online market maker that provides a trading platform for Contracts for Difference (CFDs).

Easy Markets offers CFD trading in a variety of asset classes including forex, metals, agricultural goods, energy, indices, and cryptocurrencies.

The Easy Markets trading platform is known for its innovative features, including its proprietary dealCancellation tool, and its emphasis on transparent pricing.

The company is home to over 300 markets and a range of trading instruments including spot trades, forwards, and options.

 

Pros and Cons

✔️Pros

Highly simulated demo environment

Responsive and professional customer support

❌Cons

Proprietary Deal Cancellation feature is not available on the MetaTrader 4 platform

 

Features

Feature Information
Regulation CySEC
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from None
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses $25 Sign Up Bonus
Customer Support 24/5

 

City Index

 

Overall Rating

4.7/5

Rated #226 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, ASIC, MAS

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

City Index is a Financial Conduct Authority (FCA) regulated broker with global operations, most notably in the UK, Australia, Singapore, and the United Arab Emirates.

City Index is a well-regulated broker that offers its customers access to over 12,000 markets across forex, indices, shares, cryptocurrencies, and commodities.

Customers can take comfort in the broker’s 37-year operating history and strong financial backing from its publicly traded parent company. City Index offers a wide variety of trading platforms, including robust mobile applications on iOS and Android for on-the-go traders.

 

Pros and Cons

✔️PROS ❌CONS
Low trading fees

No fees for deposit and withdrawal

Comprehensive research tools

Limited product portfolio

 

Features

Feature Information
Regulation FCA, ASIC
Minimum deposit from $100
Average spread from 1.5 pips
Commissions from ‎$3
Deposit/Withdrawal Fees None
Maximum Leverage 1:200
Bonuses Deposit Bonus
Customer Support 24/6

 

Oanda

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

OANDA offers clients exposure to a variety of financial instruments but is a good fit for seasoned traders looking for stellar desktop trading experience.

Product offerings vary by region. For example, U.S. clients can only trade FX, but the broker boasts fast and reliable trade execution, research resources that are above industry norms, functional user interfaces, and a verifiable track record of regulatory oversight.

 

Pros and Cons

✔️Pros

User-friendly trading platform

Low minimum deposit

Low trading fees

❌Cons

Lack of decent customer service

High withdrawal fees

Limited instruments for forex and CFDs

 

Features

Feature Information
Regulation FCA, RFED
Minimum deposit from None
Average spread from 1.6 pips
Commissions from $0.01 USD per trade
Deposit/Withdrawal Fees None
Maximum Leverage 1:100
Bonuses None
Customer Support 24/5

 

FXCM

 

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Consumers looking to trade forex and CFDs across a variety of asset sectors could be well advised to register with FXCM.

FXCM was founded in the UK in 1999 and offers global traders opportunities to access the most liquid markets in the world. The business was taken over by Leucadia Investments in 2015.

FXCM operates more than 130,000 global customer accounts and has received a variety of prestigious industry awards.

The online platform is used by private traders alongside institutional investors, and the broker also has a number of global affiliates in order to meet customer needs.

 

Pros and Cons

✔️Pros

Excellent educational resources for beginner traders

Low minimum deposit requirement

Advanced research tools

Excellent customer support

❌Cons

No Web Trader option available for trading platforms

Rudimentary mobile trading platform

Limited product portfolio

 

Features

Feature Information
Regulation FCA, ASIC, ACPR, FSP
Minimum deposit from $50
Average spread from 1.3 pips
Commissions from £4 per standard round-turn lot (£2 per side)
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses $20 Welcome Bonus
Customer Support 24/5

 

IG Markets

Overview

As the world’s largest financial spread betting and CFD broker by revenue, and winning highly-acclaimed awards such as Broker of the Year 2018 (UK Forex Awards) and Best CFD Provider 2017), IG Markets is an attractive choice for both the beginner and the seasoned trader.

With regulation from the FCA, ASIC, and the FSCA, award-winning technology, and over 195,000 clients worldwide IG Markets is a principal player in the CFD, Forex trading, and spread betting industries.

 

Pros and Cons

✔️Pros

Excellent customer support

Advanced suite of technical indicators

Secure and well-regulated trading environment

❌Cons

A demo account is only available for 30 days, and not all platforms can be tested

Limited range of currency options

 

Features

Feature Information
Regulation FCA, FSCA
Minimum deposit from No minimum deposit
Average spread from Variable
Commissions from £3.00 – £8.00 per trade for all types of assets
Deposit/Withdrawal Fees None
Maximum Leverage 1:200
Bonuses None offered
Customer Support 24/6

 

CMC Markets

 

Overall Rating

4.7/5

Rated #227 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, ASIC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

300

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Established in 1989, CMC Markets is a leading global provider of financial spread betting and contracts for difference (CFDs).

Headquartered in the City of London and listed on the LSE, the broker has offices in Sydney, Singapore, Toronto, and across Europe.

CMC Markets has over 80,000 active clients globally, executing 64.5m spread bet and CFD trades annually (2018-19) on an award-winning trading platform and native mobile apps.

This unique proprietary trading platform allows clients to trade FX, indices, cryptocurrencies, commodities, shares, and treasuries via CFDs and spread bets.

 

Pros and Cons

✔️Pros

An extremely broad range of tradable instruments

Unlimited period on the demo account

No minimum deposit

❌Cons

The lengthy account verification process

High withdrawal fees

Inactivity fee

 

Features

Feature Information
Regulation FCA
Minimum deposit from None
Average spread from 0.7 pips
Commissions from $10
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses $250 Referral Bonus
Customer Support 24/5

 

Admiral Markets

 

Overall Rating

4.2/5

Rated #214 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

MiFID 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Admiral Markets is a leading online trading provider, offering to trade with Forex and CFDs on stocks, indices, precious metals, and energy. The broker currently counts more than 24,109 active clients.

In 2011 alone, the Admiral Markets Group experienced a growth of 70 percent.

The company has recently won two awards: Admiral Markets AS, serving the Admiral Markets Group’s European clients, was voted “Best Forex Broker in the Baltic Region” as well as awarded the title “Best of the Best” in The New Europe magazine’s 2012 FX Award.

 

Pros and Cons

✔️PROS ❌CONS
Segregated client accounts No fixed spread accounts
Advanced trading tools

Negative balance protection

 

Features

Feature Information
Regulation FCA, ASIC, CySEC
Minimum deposit from $100
Average spread from 0.6 pips
Commissions from  0.01 USD (or the equivalent in another currency) per share per side
Deposit/Withdrawal Fees 1% on e-wallets
Maximum Leverage 1:500
Bonuses 50 EUR No Deposit Bonus
Customer Support 24/5

 

HotForex

 

Overall Rating

4.8/5

Rated #6 out of 66
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FCA, FSA, DFSA, FSCA, CMA

📱 Trading Desk

MT4, MT5

Crypto

No

📈 Total Pairs

50+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

HotForex has covered a significant part of the financial markets by offering Forex, Metals, Energies, Indices, Shares, CFDs, ETFs, and Binary Options through its different trading accounts.

HotForex certainly understands their clients’ tastes and preferences, which is why they have incorporated a multitude of trading instruments to offer a diverse product portfolio. However, when it comes to choosing an account, HotForex provides nine different types of accounts, which is a lot for the average trader.

HotForex is regulated by several bodies including CySEC, CFTC, and the FSC of Mauritius, and offers attractive bonuses to traders in eligible jurisdictions.

 

Pros and Cons

✔️PROS ❌CONS
Award-winning broker Offshore broker
Well regulated
Low minimum deposit

 

Features

Feature Information
Regulation CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from $5
Average spread from 0,0 pips
Commissions from USD 0.03 per 1K lot.
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses 100% Supercharged Bonus
Customer Support 24/5

 

Pepperstone

 

Overall Rating

4.9/5

Rated #10 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader, TradingView

Crypto

Yes

📈 Total Pairs

1000+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients.

Pepperstone is considered safe since it’s regulated by two top-tier financial authorities, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Forex and equity index fees are low. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.

 

Pros and Cons

✔️Pros

No minimum deposit

Low trading fees for forex

No added costs for withdrawals or deposits

❌Cons

A limited number of instruments

No additional research tools

 

Features

Feature Information
Regulation FCA, ASIC
Minimum deposit from AUD200
Average spread from 0.4 pips
Commissions from ‎$3.76 commission per lot per trade
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
Customer Support 24/5

 

IC Markets

 

Overall Rating

4.7/5

Rated #37 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC, CySEC, FSA, SCB

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

IC Markets offers the client a number of convenient platforms to carry out currency trading such as MetaTrader 4, one of the most popular trading platforms in the world offering the client very unique features. These include the charting function and innovative order-management tools that enable you to monitor positions better and with speed.

In terms of service quality and overall technical features, the firm is well ahead of the competition. Many reviews on the firm’s operations have given it an average A- grade rating.

 

Pros and Cons

✔️PROS ❌CONS
Low forex fees

Easy and fast account opening

Free deposit and withdrawal

No Negative Account Balance Protection

Limited number of available CFDs

 

Features

Feature Information
Regulation ASIC
Minimum deposit from $200
Average spread from 0.0 pips
Commissions from ‎None
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
Customer Support 24/7

 

AxiTrader

 

Overall Rating

4.6/5

Rated #70 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ASIC, DFSA, FCA, FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

66

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Axi

 

Overview

Established in 2007 in Sydney, AxiTrader is a leading trading platform created by traders for traders. With more than ten years of experience on the global financial scene, the platform has consolidated its position as the largest Forex broker in Australia.

At AxiTrader, traders are presented with all the features they could possibly need. There, you have a choice from a broad range of 80 currency pairs, including widely used currencies like GBP, USD, EUR, and JPY.

The platform boasts liquidity from fourteen of the biggest banks on a global scale.

 

Pros and Cons

✔️PROS ❌CONS
No Minimum Deposit Limited research tools
MetaTrader 4 available

 

Features

Feature Information
Regulation ASIC, FCA, DFSA
Minimum deposit from No minimum deposit
Average spread from 1.24 pip
Commissions from  $ 7 commission charged per round
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses 20% Deposit Bonus
Customer Support 24/5

 

Tickmill

 

Overall Rating

4.7/5

Rated #3 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, FCA, FSA, FSCA, Labuan FSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

62