Micro Account Forex is for those traders who want to trade with Micro lots rather than a full one. This brings the opportunity for clients to trade with a lower investment and margin. This is one of the best options if you are a new retail leader learning how to trade. Besides micro accounts, forex brokers also offer two other account types, namely standard and mini.
This is the most effective way to learn trading Forex using a small deposit as you explore the trading industry. It gives a real trading experience without the scare of falling into the ‘demo account trap.’ See the list below and explore your options for micro account forex brokers.
In This Guide
FCA, ASIC, CIMA, SIBL
up to 50% bonus
ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA
up to 40% bonus
VFSC, FSC, IBFC
$10 000 demo
With micro account forex brokers, you will have an option to trade at a minimum cost and learn new trading strategies for experienced clients. Read some of the top forex micro account brokers reviews below to help you get started.
This micro account forex broker was previously called ForexTime. It was founded in 2011 and continuously grew as one of the biggest forex trading platforms worldwide. Looking into its features, the broker provides an excellent display of international currencies for clients to invest in, with a collection of more than 57 currency pairings. Regulatory bodies oversee FXTM, including the Financial Sector Conduct Authority of South Africa, Financial Conduct Authority of the United Kingdom, Cyprus Securities and Exchange Commission, and the Financial Services Commission of the Republic of Mauritius.
FXTM gives its traders a commission-based and commission-free Forex account. And while you are still learning the ropes of trading, FXTM gives you access to one of the most comprehensive educational resources, including written content, a periodic table consisting of trading terminologies, and more.
When it comes to micro account forex brokers, XM is one of the best options in the industry. They have a wide array of account types that can ideally fit any trading strategy. Their clients can trade lots for as small as ten units within its micro account feature through MT4 and MT5 trading avenues. A minimum deposit of $5 to get you started with a micro or a standard account.
XM has been operating in the industry for ten years now with several subsidiaries worldwide, including the UK, Cyprus, Germany, Finland, the Netherlands, Italy, Spain, Hungary, France, and Sweden.
Besides micro account trading, FXOpen also has an ECN account and STP trading giving its traders some of the best possible prices in the market and a separate account if you opt to trade cryptocurrency pairs.
If you are looking into the micro trading account, you can expect to trade from as low as 0.1 micro lots or one nano lot, equivalent to 100 currency units. This is ideal for low-risk and new traders with a minimum deposit of $1 for micro trading accounts.
You might also include FBS in your list of micro account forex brokers worth considering. Being one of the top micro trading brokers, they also have standard trading accounts with a $100 minimum deposit.
Meanwhile, the minimum deposit for a micro account with FBS is $5. With this amount, it can already facilitate excellent value trading opportunities. However, such accounts are available to traders in the company’s jurisdiction except in Europe. They provide traders with a well-equipped demo account to allow them to test out the platform risk-free for an extendable 90-day period.
HotForex offers a total of eight account types where you can choose from. Micro and Standard account types provided by HotForex both allow micro lot trading. The availability of eight various account types gives you a broader opportunity to make positive choices on micro trading.
As you use this micro account forex broker, expect a competitive $50 minimum deposit which can increase to $100 if you wish to opt for the standard account type. In most cases, using Hotforex will not require you to put down deposit fees. While trading with HotForex, you can use its well-trusted MT4 trading platform. And on top of all the mentioned features is the benefit of users to enjoy unlimited demo accounts for an utterly risk-free trade.
Whether micro account trading is ideal for you depends on your trading objectives. Micro accounts are a good fit if you aim to have additional training experience while risking minimal capital. However, if your goal is a lower trading cost and higher profit opportunities, you might rethink your options once more. Also, remember that micro account forex brokers can also cater to experienced traders looking for new trading techniques.
Forex micro account allows traders to make transactions in micro-lots, with the smallest available size of 0.10. When you say pip value of 0.10 lot trade, it equals $0.01 in a micro account, hence the term cent account.
It is the same as the cent account, where it grants traders a pip value for as low as $0.01. This also allows traders to manage a smaller portfolio of sub-$100 efficiently. This type of account is best for new traders to know how it works and for veterans to explore new strategies.
In most cases, forex brokers offer 1:500. Meanwhile, there are also some offering 1:1000 to 1:2000. The most crucial aspect of the leverage is still in the strict implementation of risk management.
As you may have known, the trading amount in a micro account is smaller; however, it is suggested that you have to execute it as if the trade volume is one million dollars. You need to take it slow, calculative, and steady. As much as you want to trade daily, it is best to look at the biggest picture of micro forex trading.
Besides getting rich out of investing, you also need to give utmost focus to the trading process. It is essential to build a long-term plan and be disciplined like an accountable investor through tracking your investment progress using a forex trading journal.