At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

In this article, we have grouped some of the
best forex brokers that require a low minimum deposit, or no minimum deposit.

To compile this ranking, we took these factors into consideration:

• A
  minimum deposit
  of less than $25
• The ability to open trading orders even with
  low amounts of money
• The overall
  quality
  of the broker.

Round-up

Low minimum deposit brokers	Minimum deposit from:
Pepperstone	$0
FBS	$1
XM	$5
Axiory	$10
eToro	$10 (UK)
Capital.com	$20
Trading212	$1
XTB	$0
Oanda	$0
Roboforex	$10

Top 10 brokers with low or no minimum deposit: 2022 review

1. Pepperstone

• Pepperstone offers trading accounts with
  low minimum deposits.
• The minimum deposit offered by Pepperstone starts at
  $0 on Razor and Standard accounts.
• With Pepperstone’s Razor accounts, it is possible to
  trade with very low spreads
  starting at 0 pips and
  averaging 0.09 pips on EUR/USD.

Visit Pepperstone

74-89% of retail CFD accounts lose money

2. FBS

• FBS offers a low minimum deposit on its
  Standard and Micro accounts.
• FBS’s Cent account requires a minimum deposit of
  $1
  (or $10 for European customers).
• In contrast, FBS’s Micro account requires a
  minimum deposit of
  $5 but is not available in Europe.
• With FBS’s Cent account, one can take advantage of the low minimum deposit by trading
  nano lots (0.0001 standard lots), while
  the Micro account offers trading on micro-lots (0.01 standard lots).

Visit FBS

74-89% of retail CFD accounts lose money

3. XM

• XM offers three account types with a
  minimum deposit
  of $5.
• The XM Micro account allows trading forex and other assets with
  nano lots.
• The XM
  Standard account
  offers classic trading with
  micro-lot
  offerings.
• XM
  Zero account
  offers micro-lots, but unlike the XM Standard account has
  lower spreads.
• Deposits to XM
  do not charge additional fees.

Visit XM

73.57% of retail CFD accounts lose money

4. Axiory

• Axiory requires a low
  minimum deposit
  of $10
  on all its accounts.
• All Axiory accounts allow
  micro-lots
  to be traded at very low spreads, with
  leverage
  as low as 1:400 or 1:777 depending on the account chosen.
• On Axiory forex
  spreads
  start at 0.3 pips, and it offers a good choice of
  platforms
  with MT4, MT5, and cTrader depending on the type of account.

Visit Axiory

Your capital is at risk

5. eToro

• The
  minimum deposit
  at eToro starts at
  $10
  for British customers, and
  $50
  for customers in some European countries. For everyone else, it is generally
  $200.
• eToro allows forex trading with
  micro-lots.
• On eToro you can take good advantage of the
  minimum deposit on cryptocurrencies and stocks, which are available fractional from $10.
• With eToro you should keep in mind that deposits made in currencies other than USD may charge currency
  conversion fees.

Visit eToro

(68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money)

6. Capital.com

• Capital.com has a
  $20 minimum deposit
  for all customers if you deposit
  by credit card.
• Depositing by
  wire transfer at Capital.com requires a
  minimum deposit
  of at least $250.
• Capital.com allows trading with
  micro lots, and its
  spreads
  start at 0.6 pips.

Visit Capital.com

(83.45% of retail CFD accounts lose money)

7. Trading 212

• Trading 212 allows you to open a real account with a
  minimum deposit
  ranging from $1 to $10.
• For $1 you can open the Trading 212
  Invest account
  that allows you to trade
  fractional stocks and ETFs.
• For $10 you can open the Trading 212
  CFD account
  that allows you to trade a large number of
  CFDs with micro-lots.

Visit Trading 212

76% of retail CFD accounts lose money

8. XTB

• XTB does not require a
  minimum deposit
  to open a real account.
• More than
  5,000 financial instruments
  can be traded on XTB’s
  xStation 5 platform.
• XTB’s
  spreads
  start as low as 0.8 pips.
• XTB allows forex trading with
  micro-lots.

Visit XTB

79% of retail CFD accounts lose money

9. Oanda

• Oanda
  does not require a minimum deposit
  to open a real account.
• Oanda allows traders to open positions on forex and other
  financial instruments
  with pennies.
• Deposits
  on Oanda can be made by wire transfer, credit cards, and eWallets.
• Oanda
  does not charge commissions on deposits
  in most cases.
• Oanda charges
  spread
  as low as 1 pip, and
  0 pips on the Oanda Core account.

Visit Oanda

73.5% of retail CFD accounts lose money

10. Roboforex

• RoboForex offers four accounts with
  minimum deposits
  of $10.
• The RoboForex
  Prime and RoboForex ECN accounts
  allow trading forex and other assets with
  spreads
  as low as 0 pips.
• The RoboForex ProCent account allows trading with
  nano lots
  so as to take full advantage of the low minimum deposit.
• The RoboForex Pro account is the most flexible as it allows
  trading on 4 different platforms with high leverage.

Visit Roboforex

(74-89% of retail CFD accounts lose money)

Why a minimum of 0$ deposit is not the only thing to consider

Conducting an in-depth technical analysis in search of a broker with no minimum deposit or a low one is not all you should think about though.

You should also consider the fact that you will likely be trading with some kind of
leverage. This and other factors can really help determine the best broker choice for your forex trading future.

In fact, the best situation for you is one where you have a minimum deposit broker that also allows you to trade with a
minimum trade size. This is something we will get into more at the end of the post.

For now, let’s take a look at the very best forex brokers with low or no minimum deposit.

Why is lot size important with low deposits?

You may be wondering why the lot size has been mentioned frequently and why this may impact you as a trader.

The fact is that if you are a European-based forex trader, it has become very difficult to have a low minimum deposit and be able to trade significant amounts within the standard trading accounts that this opens up. This is all due to the 30:1 leverage limitation placed by regulators in Europe. For example, in order to invest $1 in a Micro lot (1000 units), you would need minimum leverage of 1000:1.

So, if you don’t have leverage, the only solution is to have the smallest trading sizes available.

Some brokers will allow you to open positions for
0.1 nano lots (basically 1/100 of a micro lot), which translates in minimum leverage terms to 10:1.

The only solution that you have available for really low deposit trading if nano lots are not available is unfortunately just to step up your deposit a little more. In these cases as a forex trader,
$50 is typically sufficient although it depends on the asset.

With all of that said, given the number of broker options available, it is still very much possible for European traders, even those constrained by strict 30:1 leverage to experience very low deposit trading in the forex market and others.