We found 11 online brokers that are appropriate for Trading Micro Account.
Foreign exchange trading or forex trading has always been a catchy thing among investors and lately, more retail investors have started investing in it. However, making decent money is not easy. High risks are involved and hence it is suggested to opt initially for micro accounts, which primarily cater to those who dislike risking a lot of money in the forex market.
There are three types of accounts through which investors can gain access to forex trading. One is a micro account or micro trading account, the one which is being discussed here, and the other two are mini account and a standard account.
Usually, beginners to the forex market opt for a forex micro account, and this is perfect for such retail traders who want to risk less and trade like a professional. The minimum deposit in a forex micro account is either small or zero.
Micro lot trading in such an account is equivalent to 1,000 units of base currency and the minimum volume to be traded is one lot.
Forex trading using a micro account is called micro trading or micro forex trading. It is the same as the mini trading and standard trading with the mini account and standard account respectively. It requires less money to trade compared to the other two and hence the earnings, as well as risks, are less too.
Forex trading business involves the exchange of foreign currencies on a platform. It is a profitable but highly volatile market which also makes it risky. Though with the high risk comes high returns as well since trading forex can prove lucrative in the financial sector of a state.
Beginner traders fail to keep up with the changing and volatile nature of the forex market which often results in losing money rapidly. Inexperienced traders can take advantage of forex brokers who offer several financial services, from risk management, investment advice and portfolio management. Different forex brokers exist for different assets for online trading. Most brokers offer trading services on commodities and ETFs and more.
The forex market is not without security. Like every financial institution, the forex market is also under the supervision of a financial sector conduct authority or any other financial services agency that ensures no illicit business is conducted in forex. They also regulate the financial sector and grant licensing to online brokerage firms. In this way, traders are given negative balance protection and more.Forex account involves the exchange of currency pairs. Forex currency pairs are exchanged on regulated trading platforms, allowing traders to swap currency pairs with one another. Most common forex pairs include USD/CAD, EUR/JPY, USD/CHF, AUD/USD, and EUR/GBP among more.
Complex instruments such as CFDs and futures are other assets traded on online platforms. Trading CFDs is another means of accessing the market. Retail investor accounts with access to trading platforms can use trading tools for analysis of market trends, currency values and so on.
Some of the more professional traders use leverages when they trade forex. Using leverage yields high rewards as traders can execute more volumes with the right trading strategies. Maximum leverage also comes with high risk as well since the forex sector is volatile and leverage is always available high.
Forex brokers offer different services depending on the type of broker a trader is working with. Most traders need brokers to access the forex market and use micro account forex brokers services while others may require full-service.
Online forex brokers offer services for smaller trading fees and commission fees compared to their land-based brokerages. Some of the best brokers charge significantly low minimum deposits for letting traders access the market, others may require slightly higher for a full service. A forex broker will also provide trading tools on platforms and advise on assets such as futures all in accordance with the financial futures association.
Retail investors and new traders have access to a few trading account types in forex. Aside from the standard account, they can use a micro account to start small when trading forex. A micro account broker is a gateway for a new trader to enter the market and start small.
Micro forex brokers offer traders access to the market. A micro account in forex trading allows traders to engage in smaller volumes of executions Most professional traders use it for testing trading strategies due to the limited loss and capital requirement. This means they can still trade forex but the high risk of losing money is reduced than its standard counterpart.
Micro trading accounts are best suited for traders who start small. A micro forex account works the same as a standard account, the major difference lies in the volume of trades. It is one of the three major account types in forex that traders can use, the others being mini accounts and a standard account.
Beginner traders lose money when trading due to inexperience and lack of understanding. Some retail investor accounts lose money due to the effects and influence of institutional investors, however, to avoid this, traders use mini accounts. A mini account allows traders to swap currencies in forex for a much smaller capital and smaller volume as well. Most traders with a standard account use it for testing strategies given the trading capital required is limited. It is ideal for new traders who are not willing to opt for micro lots.
An alternative to every other account is a free demo account which requires no capital, no money and has zero risk of losing money. A demo account creates a real trading environment for beginners to practice trading strategies using virtual funds. Loss and success of trades do not affect the trading accounts as there is no capital involved. It only matters that retail investors can get adjusted and familiar with how the market works and how they can practice.
If you are interested in making money from forex then your best bet is with a micro account as it limits losses and requires a little capital to do so. Below are some of the best micro account brokers that you can start trading at.
*74% - 80% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
RoboForex is one of the fastest growing forex brokerage firms that offer a variety of trading services and tools. Their financial services include CFDs, crypto, Forex, and MT4 as well as MT5 trading platforms. With excellent customer support, they have made a name for themselves in forex trading.
XTB is a global leader in the online trading of commodities, Forex, and assets under the financial services commission. The company is regulated by several authorities in each state's respective jurisdiction. Its customer support services, finances, and impeccable quality of it have made it a leader in worldwide brokerage firms.
XM brokers are one of the best micro account broker firms out there that require a low minimum initial deposit for clients, offer a great customer support service and some of the best trading tools as well. They feature an excellent web and mobile trading platform as well.
Even though the trading amount is less in a forex micro account, it is suggested to trade as if the volume is 1 million dollars. Take a slow and calculated approach without becoming emotional as making money is not always synonymous with taking high risks. Many lose money because they get tempted easily to trade every day and without visualizing the bigger picture of micro forex trading. Fast and haphazard step never leads to making more money, but it should be slow and steady.
The first thing a micro accounts broker would usually suggest is to focus less on getting rich and making money, and more on the process of trading.
Build a long-term trading plan and become disciplined as well as an accountable investor by tracking the progress of investment in a forex trading journal. This will give a tangible piece of evidence of the trades.
It is suggested not to measure the profits in percentage or micro pip but on the guiding principle that existed before entering the micro forex trading.
If making money through micro trading becomes a forte, it is the right time to shift to the next level, but only by taking more careful steps. Risking big means some more knowledge is required about the market. Moreover, managing investment henceforth need to be done more correctly.
We have conducted extensive research and analysis on over multiple data points on Micro Account Brokers to present you with a comprehensive guide that can help you find the most suitable Micro Account Brokers. Below we shortlist what we think are the best micro account brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Micro Account Brokers.
Selecting a reliable and reputable online Micro Account trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Micro Account more confidently.
Selecting the right online Micro Account trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for micro account trading, it's essential to compare the different options available to you. Our micro account brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a micro account broker that best suits your needs and preferences for micro account. Our micro account broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Micro Account Brokers.
Compare micro account brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a micro account broker, it's crucial to compare several factors to choose the right one for your micro account needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are micro account brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more micro account brokers that accept micro account clients.
Broker | Roboforex | XTB | XM | AvaTrade | FP Markets | NordFX | Admiral | FXPrimus | ETX Capital | Core Spreads | UFX |
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Regulation | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC) |
Min Deposit | 10 | No minimum deposit | 5 | 100 | 100 | 1 | 200 | 100 | 100 | 1 | 500 |
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Used By | 1,000,000+ | 935,000+ | 10,000,000+ | 300,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ |
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Platforms | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Binary, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with roboforex |
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Up with xtb |
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Up with xm |
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Up with avatrade |
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Up with fpmarkets |
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Up with nordfx |
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Up with admiralmarkets |
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Up with fxprimus |
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Up with etxcapital |
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Up with ufx |
Risk Warning | Losses can exceed deposits | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | Losses can exceed deposits | Losses can exceed deposits | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk |
Demo |
Roboforex Demo |
XTB Demo |
XM Demo |
AvaTrade Demo |
FP Markets Demo |
NordFX Demo |
Admiral Markets Demo |
FXPrimus Demo |
ETX Capital Demo |
Core Spreads Demo |
UFX Demo |
Excluded Countries | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA, EU, RU, SY, KP, CU | US, CA, JP, SG, MY, JM, IR, TR | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | US, BE, CA , SG, BE | US, PL, BE | DZ, BZ, IL, JO, LY, MU, SD, SY, TN, US, YE, PK, BE |
You can compare Micro Account Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Micro Account Brokers for 2024 article further below. You can see it now by clicking here
We have listed top Micro account brokers below.