As a forex trader, undoubtedly you want to be dealing with the top forex brokers in the industry. Before you take a deep dive into big money trading though, you may want to explore your options in micro trading.
With choosing the best micro forex broker in mind, here we have listed six of the very best in the industry to select from.
These forex trading brokers will all allow you the chance to trade in micro-lots which are 0.01 of a standard lot. This is a great option if you are looking for an opportunity to trade within a lower risk area.
Although many brokers may claim to offer trading in micro-lots and even smaller in the case of nano lots, though only a few will offer dedicated micro-accounts. These are the micro trading brokers that we will list for your knowledge.
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Micro lots vs Micro Accounts
Delving deeper into the trading experience to find out exactly what are micro-lots and micro-accounts and what can you as a forex trader get from them, we can see that micro lots allow you to trade for a minimal fraction of a standard lot. As mentioned above, a micro lot is 0.01 of a standard lot size.
Taking this into account, where a standard lot on any of the forex currency pairs would cost $100,000 to trade with 1:1 leverage, a micro lot would cost $1,000 with the same leverage. These types of lots are pretty much offered by every forex broker nowadays. Then you have Micro Accounts.
Within a micro account for forex trading, you can often trade in smaller lots than even the micro lot, a nano lot, or 0.001 of a standard lot is typically available on these accounts. This would lower your real money trading cost to $10 per nano lot using the same calculation as above.
This low risk is only slightly more than you would experience with a forex demo account and is great for those looking to start out. If you are looking for a low risk, no minimum deposit broker, then look no further than our low no minimum deposit broker top 10.
Top 6 Micro Account Forex Brokers
Here are what we believe to be some of the best micro account forex brokers for you to choose from:
Forex Brokers with Micro Accounts but no smaller trading sizes
While the above brokers facilitate micro trading accounts and trading in both micro trading lots and smaller. The next three brokers in our list, while still being some of the best forex micro trading broker options around, offer micro accounts but a smallest trading size or 0.01 standard lots only.