5 Best Low Minimum Deposit Forex Brokers 2022

Are you looking for a broker that will let you start with a low minimum first deposit? Then, you are in the right place!

Low minimum deposit brokers are popular for a number of reasons. The main two are that new traders want to start with a low capital outlay. The other main reason is that some traders will first want to test a new broker will a small amount of money before making a larger deposit.

In this post we go through the best low deposit brokers and how you can start using them in your own trading.

 

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Use our side-by-side comparison table to compare Forex broker accounts, spreads and fees.

 

Best Low Minimum Deposit Forex Brokers

Eagle FX

Eagle FX	Regulation	Min Deposit	STP / ECN	Open an Account
	Nil	$10	Yes	Trade Now

EagleFX is another newer broker on the scene that offers small minimum deposit options along with the ability to use large leverage.

EagleFX offers super fast trading execution times along with dedicated client support that is available 24 hours a day and seven days a week.

The signup process to EagleFX is very easy and after you have signed up you will be given the free MT4 platform you can use on either your desktop or mobile devices to trade in either real or demo mode.

Trade Now

Your capital is at risk.

 

Longhorn FX

Longhorn FX	Regulation	Min Deposit	Leverage	Open an Account
	Nil	$10	1:500	Trade Now

Longhorn FX is a newer broker that is located in th Saint Vincent and the Grenadines.

Longhorn offers trading on over 150 assets with leverage available up to 1:500 making it attractive to a lot of traders.

After signing up you get access to the MT4 platform that you can use to trade both in demo and ‘real' modes.

Longhorn FX offer small spreads and fast trading execution times making it a good option for many different types of trader.

Trade Now

Your capital is at risk.

 

FP Markets

FP Markets	Regulation	Min Deposit	Leverage	Open an Account
	ASIC, CySec.	$100	1:500	Trade Now

FP Markets is also an Australian based broker that is regulated by ASIC.

This broker has been around a long time as it was founded in 2005. With FP Markets you have many different deposit and withdrawal options including all the major cards and Paypal.

FP markets offer a large range of education and market analysis and along with their MT5 charts, they also offer other trading platforms to suit your individual needs including IRESS.

Trade Now

Your capital is at risk.

 

OctaFX

OctaFX	Regulation	Min Deposit	Leverage	Open an Account
	CySec	$5	1:500	Trade Now

OctaFX is a STP style broker that has opened more than 1.5 million trading accounts.

OctaFX covers 100 countries and they have won 28 different industry. Along with their MT5 platform you also get access to MT4 and cTrader platforms.

OctaFX offer a large range of free education and market analysis and you also gain access to their copy trading platform. This allows you to copy other professional traders and make money from their winning trades.

Trade Now

Your capital is at risk.

 

Forex.com (for US)

Forex.com	Regulation	Min Deposit	Market Maker	Open an Account
	NFA, CFTC + Others	$100	Yes	Trade Now

Forex.com has established itself as one of the best brokers in the world.

This is our number one recommendation for traders in the US as they have strong regulation including being regulated with the CFTC.

With Forex.com you get access to spreads as low as 0.2, the ability to trade on over 80 currency pairs and a wide range of trading platforms.

The MT5 platform on Forex.com comes with 20 free, easy to install EAs and custom indicators. When opening an account with forex.com you also get access to the full suite of downloadable, web, and mobile apps.

Trade Now

Your capital is at risk.

 

What is a Low Minimum Deposit?

A low minimum deposit broker will allow you to start trading with a very small amount of capital. This can sometimes be as low as just $5.

The question you need to ask is what is the lowest amount of capital you should be depositing to give yourself the best chance of success.

Whilst you can start with just $5, is that going to give you a realistic chance of success? Probably not because you will be very constricted in both the amount you can trade and the assets you can trade.

 

Thinking About Lot Size With Small Deposit

Just because you make a low deposit does not mean you cannot trade with correct money management strategies.

Even with a smaller account it is important to think about your lot size and how you calculate your trade entries.

If you are not sure what your lot size is and how to calculate it correctly, then read HERE.

 

Correctly Managing Your Risk With a Small Deposit

Being able to correctly manage your risk when using a smaller account size is going to be crucial to your success.

Many traders will trade wildly when they have a smaller account because the amount being risked is smaller. These traders will make far more trades than they should and also risk a higher percentage of their account than they should.

Even with a smaller account it is still important you use proper risk management and only risk a small percentage each trade.

 

FAQ's

What is a Minimum Deposit Broker?

A minimum deposit Forex broker will let you deposit a very small sum of money to get started trading. This is a good option if you are new to trade or want to test out the broker.

Can I Start Trading With $5?

Yes, there are multiple brokers who will let you start with as little as $5. This is often a good place to start before making larger deposits.

Why Would I Start With a Low Deposit?

New traders will often start with a small or low minimum deposit when they are first starting out. Other traders who are looking to test a new broker will also often start with a small deposit.