A “micro account forex broker” is a type of forex brokerage that allows traders to open accounts and trade with “micro lots”.
“Micro account forex brokers” are also referred to as “micro lots forex brokers”, “micro trading forex brokers” or “micro account brokers”.
In forex (foreign exchange) trading, a “micro lot” refers to 1,000 units of the base currency that you are buying or selling in a forex transaction. “Lots” are the standard unit for measuring the transaction amount in forex trading. For example, if you were trading the EUR/USD currency pair, a micro lot would be 1,000 euros.
Trading in micro-lots is known as “micro lot trading.” It’s a way to participate in the forex market with a smaller amount of capital, which reduces the risk associated with the trades. It’s especially beneficial for those new to forex trading, or traders with smaller account balances.
For comparison, there are also “mini lots” (10,000 units) and “standard lots” (100,000 units). Trading in standard lots is typical for larger or institutional traders, while mini and micro lots are more common among individual investors or retail traders.
Below are listed some of the best brokers offering micro accounts or micro lots trading.
Here’s what was taken into consideration when creating this list:
- If the broker offered micro accounts or micro lots trading
- The assets provided on the micro account or where micro lots trading was available
- The spreads charged on the micro account or where micro lots trading was available
- The leverage on the micro account or where micro lots trading was available
- The minimum deposit requested to open a micro account
What are the best Micro account forex brokers?
Below our curated list of the best micro account forex brokers, with a description of features and characteristics.
XM
best broker with no requotes
XM offers micro accounts with trading starting at 0.01 lots on MT4 and MT5. XM requires a minimum deposit of $5 and provides leverage up to 30:1. XM includes 1150+ assets, including forex and commodities.
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- Within the XM micro account, clients can trade as small as 0.01 lots on MT4 and on MT5.
- A minimum deposit of just $5 is needed to get started with an XM Micro Account.
- The spreads charged on Micro accounts are from 1 pips on forex.
- XM assets available with the Micro account are 1150+ including forex, stocks, indices and commodities.
- The XM leverage which can be found is up to 30:1 for EU and ASIC clients.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
Pepperstone
best for lowest spreads
Pepperstone provides micro lots trading on standard and razor accounts with no minimum deposit. Pepperstone has over 200+ assets and allows leverage up to 30:1.
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About Pepperstone
Pepperstone is a global forex and CFD broker founded in 2010 in Melbourne, Australia. Pepperstone offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader and cTrader platforms. Pepperstone is regulated by multiple authorities including ASIC, FCA, and CySEC. Pepperstone is known for competitive spreads, fast execution, and extensive educational resources. Pepperstone serves clients in over 160 countries worldwide. The Pepperstone CEO is Tamas Szabo.
Pepperstone Features
The features of Pepperstone are listed below.
- Pepperstone offers micro lots trading (0.01 lots) on both its account types, standard and razor.
- The number of Pepperstone assets tradable are 200+ and includes forex, indices, commodities, crypto, stocks, and currency indices.
- Clients will find Pepperstone spreads from 0 pips on the Razor and from 0.4 pips on the Standard
- Leverage depends on the entity you’re trading under. This will be up to 30:1 for EU, DFSA, FCA and ASIC; up to 500:1 for CMA clients and up to 200:1 for SCB clients. Professional clients find a maximum leverage up to 500.1.
- No minimum deposit is required to open an account with Pepperstone.
Pepperstone Pros and Cons
Advantages of Pepperstone
The advantages of Pepperstone are listed below.
- Stable raw spreads (0,09 pips on EUR/USD on average)
- Caters for algorithmic trading
- Has won over 30 Forex industry awards
Disadvantages of Pepperstone
The disadvantages of Pepperstone are listed below.
- The demo account is not unlimited
FP Markets
best trading costs overall
FP Markets allows micro lots trading on Standard and Raw accounts from a minimum deposit of $100. FP Markets offers spreads from 0 pips and leverage up to 500:1.
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About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- FP Markets offers micro lots trading (0.01 lots) on their Standard and Raw accounts.
- Several assets are made available for micro lot trading by FP, including 70+ forex pairs, indices, and commodities.
- The spreads charged by FP on forex go from 0 pips on the Raw account and from 1 pips on the Standard account.
- The leverage provided depends on the FP Markets entity you’re trading under. This will be up to 30:1 under EU, FCA and ASIC and up to 500:1 as non-EU traders.
- The FP Markets minimum deposit is $100 for both accounts.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
eToro
best for social trading
eToro supports micro lots trading via the Standard account. eToro offers spreads from 1 pip and leverage up to 400:1 for professionals.
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About eToro
eToro is a global multi-asset investment platform founded in 2007, offering trading on stocks, ETFs, Crypto CFDs, commodities, and forex. eToro provides a proprietary web and mobile platform with social trading features. eToro is regulated by multiple authorities including FCA, ASIC, and CySEC. eToro is known for its user-friendly interface, copy trading functionality, and commission-free stock trading. eToro serves over 30 million users worldwide. The eToro CEO and co-founder is Yoni Assia.
eToro Features
The features of eToro are listed below.
- eToro allows micro lots trading via their Standard account since the minimum lot size permitted by eToro when trading with CFDs is 1 micro lot.
- The eToro Standard account offers 1000+ assets.
- eToro charges spreads from 1 pips on forex with a maximum leverage up to 30:1 (retail) and 400:1 (professional) under CySEC and FCA egulation.
- The eToro minimum deposit is $50 to open a Standard account, depending on your location.
eToro Pros and Cons
Advantages of eToro
The advantages of eToro are listed below.
- Great copy trading and social trading features
- Wide range of asset classes
- It allows to buy fractional stocks from $10
Disadvantages of eToro
The disadvantages of eToro are listed below.
- The eToro spreads can be high
- Offers only USD accounts
- Transferring cryptocurrencies to other platforms can be hard
FBS
best broker with high leverage
FBS offers a Micro Account with fixed spreads from 3 pips. FBS supports leverage up to 3000:1. FBS requires a minimum deposit of $5 and provides forex, metals, and energies.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- FBS provides a Micro Account under IFSC regulation.
- The assets provided by FBS via the Micro account include forex, metals and energies.
- Clients who use a Micro account with FBS find fixed spreads from 3 pips on forex.
- The maximum leverage of the Micro account is up to 3000:1.
- FBS has a minimum deposit of $5 for those who want to open a Micro account.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
HFM
best trading tools
HFM enables micro lot trading with its Micro account. HFM includes 140+ assets and offers leverage up to 1000:1 and there’s no minimum deposit.
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About HFM
HFM, formerly known as HotForex, is a global multi-asset broker founded in 2010. HFM offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader and proprietary platforms. HFM is regulated by multiple authorities including FCA, CySEC, and FSCA. HFM is known for competitive spreads, fast execution, and extensive educational resources. HFM serves over 3.5 million clients worldwide. The HF Markets Group CEO is George Koumantaris.
HFM Features
The features of HFM are listed below.
- Micro lot trading can be done with the Micro account under the HFM global entity.
- 140+ assets can be traded with the HFM Micro Account, including forex, commodities, stocks, bonds and indices.
- HFM spreads start from 1 pips on 55+ forex pairs with a maximum leverage up to 1000:1.
- Within HFM, you can look forward to a minimum deposit of $0 to open a Micro account.
HFM Pros and Cons
Advantages of HFM
The advantages of HFM are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HFM
The disadvantages of HFM are listed below.
- Higher Trading Costs
- Limited Educational Resources
FXTM
best micro trading overall
FXTM provides a Micro account with forex and metals available. FXTM offers spreads from 1.5 pips and leverage up to 2000:1 with a minimum deposit of $10.
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About FXTM
FXTM, also known as ForexTime, is a global forex and CFD broker founded in 2011. FXTM offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. FXTM is regulated by multiple authorities including CySEC, FCA, and FSC Mauritius. FXTM is known for low spreads, fast execution, and extensive educational resources. FXTM serves over 2 million clients worldwide. The FXTM CEO is Nicholas Defteras.
FXTM Features
The features of FXTM are listed below.
- FXTM offers a Micro account for its clients with a minimum volume in lots per trade 0.01.
- Within the EU, note that FXTM only accepts professional clients.
- Spreads with an FXTM Micro Account start from 1.5 pips on forex.
- Forex and metals are the only assets trabadle with a FXTM Micro account.
- The FXTM micro account leverage goes up to 2000:1, however EU and UK clients will be given lower leverages.
- The FXTM Micro account comes with a $10 minimum deposit.
FXTM Pros and Cons
Advantages of FXTM
The advantages of FXTM are listed below.
- User-Friendly Platform
- Fast Customer Support
- Low Minimum Deposit
Disadvantages of FXTM
The disadvantages of FXTM are listed below.
- Withdrawal Fees
- Limited Product Range
- Inactivity Fees
OctaFX
best educational materials
OctaFX allows micro lot trading via MT4 and MT5 accounts with a minimum deposit of $25. OctaFX offers spreads from 0.2 pips and leverage up to 500:1.
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About OctaFX
Octa, formerly known as OctaFX, is a global forex and CFD broker founded in 2011. Octa offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. Octa is regulated by multiple authorities including CySEC. Octa is known for competitive spreads, extensive educational resources, and copy trading services. Octa serves clients in over 100 countries worldwide.
OctaFX Features
The features of OctaFX are listed below.
- OctaFX allows micro lot trading via MT4 and MT5 accounts with minimum size 0.01 lots. For EU clients only MT5 accounts are available.
- The assets provided by OctaFX on both accounts are forex pairs, commodities, indices, and, depending on your location, cryptos.
- The OctaFX spreads start from 0.2 pips on 35+ forex pairs.
- The leverage available here is up to 500:1 under the SV regulation and up to 30:1 for EU clients.
- The minimum deposit needed to open an MT4 or MT5 account with OctaFX is $25.
OctaFX Pros and Cons
Advantages of OctaFX
The advantages of OctaFX are listed below.
- Low Trading Costs
- Robust Educational Resources
- Multiple Trading Platforms
Disadvantages of OctaFX
The disadvantages of OctaFX are listed below.
- Limited Asset Range
- No VIP Discounts
- Restrictions on High-Frequency Trading
Oanda
best forex liquidity
Oanda allows micro forex trading with no minimum deposit on over 70 forex pairs. Oanda offers spreads starting from 0.6 pips and leverage up to 100:1.
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About Oanda
OANDA is a global multi-asset broker founded in 1996, offering trading on forex, CFDs, commodities, indices, and cryptocurrencies. OANDA provides proprietary platforms and API solutions. OANDA is regulated by multiple authorities including FCA, ASIC, and MAS. OANDA is known for competitive spreads, fast execution, and currency data services. OANDA serves both retail and institutional clients worldwide. The Oanda Chief Executive Officer is Gavin Bambury since August 2019.
Oanda Features
The features of Oanda are listed below.
- Oanda gives opportunities to engage in micro forex trading.
- In fact, clients can trade as little as one unit of currency with Oanda. This is the lowest value trading possible anywhere.
- Oanda Standard account offers a huge range of forex trading choices with more than 70 forex pairs, as well as CFD indices, commodities, metals, and bonds.
- Spreads on Oanda forex start from 0.6 pips with maximum leverage up to 100:1 (depending on the Oanda entity you trade with).
- Oanda does not require a minimum deposit.
Oanda Pros and Cons
Advantages of Oanda
The advantages of Oanda are listed below.
- Comprehensive Platforms
- Robust Education
- Highly Regulatory Trust
Disadvantages of Oanda
The disadvantages of Oanda are listed below.
- Higher Spreads
- Proprietary Platform Limitations
- Inactivity Fees
Fxopen
best execution
FxOpen supports micro trading accounts with 0.01 micro lots. FxOpen provides minimum spreads from 0 pips and leverages up to 500:1 from a minimum deposit of $1.
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About Fxopen
FXOpen is a global forex and CFD broker established in 2005, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FXOpen provides MetaTrader 4, MetaTrader 5, TickTrader, and TradingView platforms. FXOpen is regulated by multiple authorities including FCA and CySEC. FXOpen is known for its ECN trading environment, low spreads, and fast execution. FXOpen offers various account types including ECN and STP. The FXOpen CEO is Alexey Stepanov.
Fxopen Features
The features of Fxopen are listed below.
- Within the FxOpen micro trading account, traders can look forward to trading as low as 0.01 micro lots.
- With the FxOpen Micro account, you can trade 600+ assets, including forex, through the MT4 or MT5 platforms.
- Minimum spreads are from 0 pips on forex with different maximum leverage up to 30:1 for both ASIC and FCA clients. Professional clients can access leverage up to 1:500.
- FxOpen requires a $1 minimum deposit to open a Micro account.
Fxopen Pros and Cons
Advantages of Fxopen
The advantages of Fxopen are listed below.
- Regulatory Oversight
- Diverse Trading Platforms
Disadvantages of Fxopen
The disadvantages of Fxopen are listed below.
- Higher Spreads on Forex
- Insufficient Educational Resources
What are the key differences between micro and standard forex accounts?
Micro account forex brokers allow trading with smaller lot sizes compared to a standard account, meaning that a lower initial investment is needed. These differences are crucial for traders who wish to engage in forex trading with different amounts of capital.
Understanding the contrasts between these two types of accounts can empower traders to make well-informed decisions about their chosen trading methods, the amount of capital to invest, and their risk management strategies.
Can micro forex trading lead to substantial profits over time?
Engaging in a forex micro account has the potential to yield substantial profits over an extended duration. While the initial investment in micro forex trading is relatively small, traders can capitalize on the power of compounding gains by consistently reinvesting profits.
By diligently employing sound trading strategies, managing risks prudently, and staying informed about market trends, traders can maximize their earning potential. Over time, the cumulative effect of profitable trades can lead to significant financial gains.
What are the pros and cons of micro trading accounts?
Pros
- Low capital requirement makes it accessible for beginner traders.
- Risk management is more efficient.
- Micro accounts lets you learn and test strategies without significant financial risk.
- Micro accounts provide less psychological stress.
Cons
- Profits might be relatively smaller compared to standard accounts.
- Higher spread and commissions.
- Limited asset availability.
How to choose the best micro account forex broker?
Choose a regulated micro forex broker
In selecting an appropriate forex broker, regardless of the desired trading approach or broker type, regulatory compliance holds a high priority. Opting for a micro account forex broker with the relevant jurisdictional licensing ensures that, should discrepancies arise, there’s a pathway to escalate grievances with the overseeing financial regulatory authority.
Choose a micro forex broker with low spread
Typically, forex brokers levy fees based on the spread, representing a differential in purchasing or offloading a forex pair. Micro accounts typically charge higher spreads and commissions, which will hinder your gains so it is wise to consider a low structure for trading forex.
Choose the best micro account forex with a wide range of financial instruments
The best micro forex brokers are generally limited in the range of financial instruments available. Hence, it is useful to ascertain that the instruments in which you wish to invest are present in the forex micro accounts. Additionally, the availability of other types of assets should not be underestimated in order to assess a possible diversification of trading.
What are the most suitable currency pairs for micro forex trading?
When it comes to micro forex trading, the most effective currency pairs usually include the major ones, owing to their high liquidity and narrower spreads. These pairs predominantly feature significant global currencies such as EUR/USD, GBP/USD, and USD/JPY. Nonetheless, it’s important for traders to consider their personal preferences and the prevailing market conditions when selecting pairs for micro forex trading.