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 2023.
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 | CONS |
Well-regulated | |
Tight spreads | |
Over 130 currency pairs |
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 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 | CONS |
Relatively high maximum leverage No minimum deposit Reputable regulation |
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 |
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 | CONS |
Well regulated Low minimum deposit | Customer support can be unresponsive |
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 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 | CONS |
Social trading available MetaTrader 4 and 5 are available Multilingual customer support | Limited trading instruments No VPS available |
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 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 | CONS |
Broad range of tradable instruments | High EURUSD and inactivity fees |
MetaTrader 4 and 5 available | |
Excellent educational resources |
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 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
Highly simulated demo environment Responsive and professional customer support | Cons
Proprietary Deal Cancellation feature is not available on the MetaTrader 4 platform |
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 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 | CONS |
Low trading fees No fees for deposit and withdrawal Comprehensive research tools | Limited product portfolio |
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 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
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 |
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 |
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
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 |
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 |
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
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 |
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 |
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
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 |
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 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 | CONS |
Segregated client accounts | No fixed spread accounts |
Advanced trading tools
Negative balance protection |
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 |
HFM 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.
HFM 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, HFM provides nine different types of accounts, which is a lot for the average trader.
HFM is regulated by several bodies including CySEC, CFTC, and the FSC of Mauritius, and offers attractive bonuses to traders in eligible jurisdictions.
PROS | CONS |
Award-winning broker | Offshore broker |
Well regulated | |
Low minimum deposit |
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 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
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 |
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 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 | CONS |
Low forex fees
Easy and fast account opening Free deposit and withdrawal | No Negative Account Balance Protection
Limited number of available CFDs |
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 |
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 | CONS |
Segregated client accounts | No fixed spread accounts |
Advanced trading tools Negative balance protection |
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 |
The Tickmill Group was founded in 2014 and has experienced a remarkable growth trajectory ever since. Regulated in three jurisdictions, it has over 111,000 traders with more than 263,000 accounts.
Tickmill’s most valuable asset is its eleven-member research team, which provides traders with exceptional coverage of the financial markets.
PROS | CONS |
Competitive pricing
Well regulated High leverage Advanced trading software STP model |
Feature | Information |
Regulation | FSA |
Minimum deposit from | $100 |
Average spread from | 0.1 pips |
Commissions from | 2 per side per 100,000 traded |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | $30 Welcome Bonus |
Customer Support | 24/5 |
FXPRIMUS is an ECN broker founded in 2009 and fully regulated in South Africa since 2018. Globally acclaimed for offering one of the fastest and most secure online trading environments, the company has a triple focus on education, safety, and technological innovation.
A true multi-asset broker, FXPRIMUS offers multiple tradeable instruments including Forex, Commodities, Energies, and Indices with spreads from as low as 0 pips on the MT4 platform and across three account types.
PROS | CONS |
Commission free trading | No fixed spread accounts |
Negative Balance Protection provided
VPS Service available |
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 |
BDSwiss was launched in the Zurich area in the year 2012. The business currently has more than €20bn in forex trades each month and is a global provider with over 16,000 affiliate accounts.
BDSwiss is licensed by CYSEC in the EU, the National Futures Association in the United States, and the FSC.
PROS | CONS |
MetaTrader 4 and 5 available | Relatively high minimum deposit |
Multiple regulations |
Feature | Information |
Regulation | CySEC, FSC, NFA |
Minimum deposit from | $200 |
Average spread from | 1.3 pips |
Commissions from | 0.1% for stock and CFDs |
Deposit/Withdrawal Fees | 10 EUR from 20 EUR upwards |
Maximum Leverage | 1:500 |
Bonuses | 50 EUR No Deposit Bonus |
Customer Support | 24/5 |
Alpari International operates a web-based MetaTrader 4 and MetaTrader 5 platform, with a dealing desk. Both platforms will provide a great level of flexibility, including modern and intuitive charting tools and simple navigation.
If you open an MT4 MicroAccount, you will have access to instant order execution, with margin calls at 50% and stop outs set to 30%. The standard MT4 account also offers instant execution, however, margin calls are set slightly higher at 60%.
For more experienced traders, the ECN accounts may be more appealing. These offer margin calls of 100%, although pending orders are set at a maximum of 300.
PROS | CONS |
Advanced trading platforms | Limited independent research tools |
Excellent customer support
Caters to a wide range of trading styles and experience levels |
Feature | Information |
Regulation | Financial Services Commission (FSC) |
Minimum deposit from | $100 |
Average spread from | 1.2 pips on majors |
Commissions from | charged at 4 units of the Base currency |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:1000 |
Bonuses | Cashback Promotion |
Customer Support | 24/5 |
Dukascopy is an online broker and bank headquartered in Europe. Users can trade forex, CFDs, and binary options on the broker’s JForex 3 platform or MetaTrader 4 (MT4).
The JForex 3 platform is excellent for technical trading and automated strategies. It’s available as a desktop download or can be accessed via a web browser.
Online charts, 24 drawing tools, and over 270 indicators and chart studies allow traders to analyze market sentiment.
PROS | CONS |
Good choice for high volume traders
Comprehensive analytical tools Flexible trading on advanced platforms Good selection of currency accounts | High commission
Charges withdrawal fees High minimum deposit Charges inactivity fee |
Feature | Information |
Regulation | FINMA |
Minimum deposit from | $100 |
Average spread from | 0.3 pips |
Commissions from | $49.5 per $1 million traded |
Deposit/Withdrawal Fees | Varies depending on the method |
Maximum Leverage | 1:200 |
Bonuses | 10% Equity Bonus |
Customer Support | 24/5 |
FreshForex is a broker offering forex and CFD trading through several account types and the MT4 platform.
The broker provides over 130 financial instruments to clients from over 200 countries worldwide, as well as a range of educational tools for both beginners and experts.
PROS | CONS |
High leverage
Commission-free trading Advanced trading platforms | Lax regulation |
Feature | Information |
Regulation | CRFIN |
Minimum deposit from | None |
Average spread from | 2 pips |
Commissions from | No commissions |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:2000 |
Bonuses | $200 No Deposit Bonus |
Customer Support | 24/5 |
JustForex is a retail forex broker that was founded and headquartered in Belize. Over the years in the forex industry, it has managed to grow in leaps and bounds in a bid to cement its place as one of the best forex brokers worldwide.
PROS | CONS |
Wide range of deposit and withdrawal methods
Low minimum deposit Excellent customer support | Lax regulation
No MetaTrader MAC version |
Feature | Information |
Regulation | FSA |
Minimum deposit from | $1 |
Average spread from | 0.1 pips |
Commissions from | No commissions |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:3000 |
Bonuses | 115% Deposit Bonus |
Customer Support | 24/7 |
OctaFX was founded in 2011 and offers Forex ECN trading, as well as CFD trading on Indices, Metals, and Cryptocurrencies, across the MetaTrader and cTrader suite of trading platforms for Windows Desktop, Web (Windows and Mac), and Mobile (Android and iOS).
PROS | CONS |
Ultra-fast execution | No VPS available |
More than 30 forex pairs available
Well-regulated | No Forex educational tools |
Feature | Information |
Regulation | CySEC |
Minimum deposit from | $100 |
Average spread from | 0.7 pips |
Commissions from | None |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | 50% Deposit Bonus |
Customer Support | 24/5 |
Established in 2008, Plus500 is a reputable and regulated broker which has regulation and authorization in numerous jurisdictions.
Plus500 offers traders the opportunity to trade in numerous global markets by offering over 2,000 tradable financial instruments. These can be traded through Plus500’s innovative, advanced, user-friendly proprietary trading platforms.
Plus500 offers comprehensive trading solutions and competitive trading conditions to a great number of traders from around the world.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
PROS | CONS |
Well-regulated by numerous entities | High inactivity fee |
Multilingual support | Withdrawal fees are charged, and withdrawal conditions are strict |
Segregated accounts for client funds | Limited payment methods supported |
Large variety of financial instruments | No choice between accounts or trading platforms |
Low and competitive trading fees | Desktop version of trading platform not available |
Feature | Information |
Regulation | CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA |
Minimum deposit from | $100 |
Customer Support | 4/7 |
Commissions from | $0 |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:30 |
Bonuses | Yes |
2 |
Vantage FX is a CIMA regulated Forex broker, providing traders with access to the global Forex market through top-tier FX liquidity providers. With Vantage FX, you will experience super-fast trade execution, as well as interbank grade, RAW ECN spreads.
PROS | CONS |
Well regulated
Advanced trading platforms Has indemnity insurance | Limited range of tradable instruments |
Feature | Information |
Regulation | ASIC |
Minimum deposit from | $200 |
Average spread from | 1.35 pips |
Commissions from | $3 added per side |
Deposit/Withdrawal Fees | 20 units of trading account base currency |
Maximum Leverage | 1:500 |
Bonuses | 50% Welcome Bonus |
Customer Support | 24/5 |
XM has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms and this includes Forex Trading, Stocks, CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, and Energies CFDs.
XM is a good company, with a wide selection of financial instruments and trading platforms.
Pros
Low minimum deposit Comprehensive educational offering Streamlined account opening process | Cons
Inactivity fee charged after 90 days on live accounts Limited product portfolio |
Feature | Information |
Regulation | IFSC, ASIC, CySEC, FCA and DFSA |
Minimum deposit from | $5 |
Average spread from | 0.1 pips |
Commissions from | $3.5 commission per $100 000 traded |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:30 |
Bonuses | $30 Trading Bonus |
Customer Support | 24/5 |
Forex micro lots are equivalent to 1,000 units of the base currency. Essentially, a standard account lot is equal to ten mini account lots which are equal to ten micro account lots.
Micro even small-scale traders have the ability to trade like professionals. A trader can buy and sell forex pairs the exact same way as anyone that is using a standard account but with a much smaller capital stake.
Read our comprehensive list of the 27 best forex brokers offering micro accounts directly from the Forex Suggest website
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