Forex brokers are the financial platforms allowing traders to trade in foreign currencies. These portals act as intermediaries between the market and traders, facilitating the selling and buying of the currencies. All financial platforms have a minimum deposit requirement. It is essential to check the amount as it affects the trader’s ability to enter the market and dictates other trading conditions.
Since many options are available for forex broking platforms, assessing the terms and conditions for each financial portal will be a hassle for traders. Easing the task, traders Union experts have identified the best ten forex brokers with low minimum deposit requirements. Scroll down to the details for a safe and secure selection.
How to add funds to forex trading platforms?
Before depositing money to the financial platforms, a few pointers need to be addressed to ensure a safe and secure trading transaction.
- Check for the deposit fees or commissions of the forex broking platform charged by the broker.
- Review the terms and conditions of the platform, as some electronic payment modes may charge fees for the transactions.
- Deposit processing time varies for each platform and payment method used. Check for the timeline details and then proceed.
- Ensure sufficient balance in your account before placing an order for any trades.
- Opt for a platform offering various payment modes, including bank wire transfers, electronic payment modes, UPI, debit or credit cards and cryptocurrencies.
10 best trading platforms with the low minimum deposit
Traders Union has analysed the best forex broker platforms with low minimum deposits, testing more than 500 platforms for the requirements. Experts have found brokers with $1 minimum deposit, as well as deposits up to $100, which will be comfortable for beginners to cooperate with:
- Exness – $1 minimum deposit requirement and regulated by FCA, FSA and CySec.
- RoboForex – $10 minimum deposit requirement and regulated by FSC.
- Oanda – No minimum deposit requirement and regulated by CFTC and FCA.
- InstaForex – $1 minimum deposit requirement and regulated by FSC.
- Interactive Brokers – Offering a minimum deposit requirement of $1, Admiral Markets is regulated by JSC, AFSC, CIPC, CySEC, FSA and FCA.
- Admiral Markets – $1 minimum deposit requirement, regulated by FINRA, NFA, SEC and CFTC.
- XM Forex broker offers a low minimum deposit requirement of only $5, the platform is regulated by CySEC, FSC and ASIC. XM also offers a 20% deposit and a 30% sign-up bonus.
- Forex4You – $1 minimum deposit requirement and regulated by FSC.
- FXOpen – Regulated by CySec, FCA and ASIC, the platform offers a $1 minimum deposit requirement.
- AMarkets – With no minimum deposit requirement, IFC regulates AMarkets and offers a 20% deposit bonus.
You can learn more about each of these brokers on the Traders Union official website.