You may be new trading Forex so it’s only natural that you wouldn’t want to dump your life savings into a Fx trading account. Forex brokers with a $10 minimum deposit would be ideal for any beginner trader.
Though trading with just $10 isn’t going to make you rich or any substantial gains, you are able to get a sense of the broker and how the trading platform works.
When trading Forex with such a small amount it is always encouraged to be realistic.
Money doesn’t grow on trees and there is no way you will “win big” trading forex with just ten dollars.
The most important aspect of trading/investing is learning to trade forex safely and responsibly with proper risk tolerance and trading strategy.
Forex is not a get rich quick scheme!
List of Forex Brokers With $10 Minimum Deposit
Broker Name | Minimum Deposit |
AccentForex | $10 |
AdmiralMarkets | $10 |
Alpari | $1 |
CMCMarkets | $1 |
$1 | |
FinPro Trading | $5 |
ForexMart | $1 |
Fort Financial Services | $5 |
FXDD | $1 |
FxGlory | $1 |
FXOpen | $1 |
FXTM | $10 |
Hotforex | $5 |
InstaForex | $1 |
JCMFX | $10 |
LiteForex | $10 |
Oanda | $1 |
Paxforex | $10 |
PrimeXBT | $1 |
Roboforex | $1 |
ThinkMarkets | $1 |
Tradersway | $1 |
XM | $5 |
Can I Trust Forex Brokers With $10 Minimum Account Deposits?
Caution needs to be taken when you are dealing with low deposit brokers.
Not all are scams, but some may be. It is best to do your research on the broker before ever depositing a penny.
Forex Rank has a list of legitimate Forex brokers that is constantly updated. Another red flag when choosing a broker is the country they do business from and what regulatory body they are registered under.
If they are not regulated under a well established regulator stay clear of them.
One other telling sign to stay away from a broker are promises of instant winnings or a fortune to be made trading forex. This is also illegal and not a good business practice.
That is why we have compiled a list of the most trusted low deposit Fx brokers down below.
Most legitimate forex broker offer low minimum deposit for many reasons such as:
- Lets traders get a feel for there brokerage with little risk
- Testing out withdrawals and deposit methods and speed/reliability
- Trying out new brokerage specific trading platforms all with little money down
- Entice new clients
- Attractive to beginners/ brand new to Forex
- Benefits the trader more so than the broker at first.
Can I trade forex with just $10?
Trading in micro lots will be the only way this is possible. A mini lot is 0.10, whereas a micro lot is 0.01. With such low lots it is possible to trade with as little as $10.
It’s common to have low initial deposit amounts to open up an account but it is not ideal for long term trading.
Example:
BUY EUR/USD at 1 micro lot at 1:500 leverage = margin required in your account of $2.36.
At this buy of 1 micro lot, ever pip in price movement would be $0.01 or one cent per pip.
Contract size: | 1000 EUR |
Tick: | 0.00001 |
Pip value: | 0.10 USD |
Swap short: | -0.00 USD |
Swap long: | -0.06 USD |
Margin at current market price: | 2.36 USD |
Commission: | 0.00 USD |
Profit: | 0.07 USD |
Here you can clearly see how much you will be profiting with an account balance of $10 and trading a micro lot.
The profits are not substantial at all.
This is why trading with such a low amount is great for learning how to trade, testing out a broker or platform you are unfamiliar with before you are comfortable depositing a higher amount.
What is a micro Forex account?
A micro forex account is a retail trading account where the trader doesn’t want to risk a lot of money trading.
The min amount trad-able is 0.01 lot or 1 micro lot and is a preset amount of 1000 units of currency.
Not all forex brokers offer micro accounts allowing you to trade micro lots.
Most trusted Forex Broker With $10 dollar Minimums
| Broker Type | Market Maker / ECN |
| Regulations | IFSC, FCA, FSB |
| Min Deposit | $5.00 |
| Account Base Currency | USD EUR GBP NGN |
| Max Leverage | 1:1000 |
| Trading Platforms | Metatrader 4 and 5 |
Common Deposit methods For Low Deposit Forex Brokers
This is important because some deposit methods slap a deposit fee if not waived by the broker.
Wire or bank transfers will not be possible as the fees to transact are too high with deposits of $10 or less. Most common deposit methods will be:
- Skrill deposit
- Neteller deposit
- Bitcoin deposit
- PayPal deposit
- Credit card deposit
Conclusion
If you are learning to trade forex, finding a forex broker with a $10 minimum for deposits is a good idea.
The risk of losing money is high as you are still learning but the risk of losing a lot of money is low, as you are only trading with 10 dollars.
For us this kind of mentality for beginner traders with risk tolerance and smart trading practices is the best chance for success.
We hope that you found this article helpful in your quest of perfecting and learning your forex trading skills, safely and with responsibility.
