Broker | Review | Min Deposit | Spreads | Regulations | Account |
1. BlackBull Markets  | $0 | From 0.0 pips | FMA, FSA | ||
2. FBS Broker  | $5 | From 0.7 pips | CySEC, IFSC and ASIC | ||
3. XM Broker  | $5 | 0.6 pips | ASIC, CySEC, IFSC, DFSA | ||
4. Pepperstone  | $0 | From 0.0 pips | FCA, ASIC, DFSA, CySEC, CMA, SCB, BaFin | ||
5. Fusion Markets  | $0 | From 0.0 pips | ASIC, VFSC |
In this article, we will talk about the 5 best Forex brokers & platforms that do not require a minimum deposit or only require a low minimum deposit to get started trading with.
To choose the 5 best forex brokers with no or low minimum deposit, we considered several important factors.
- Most importantly, the minimum deposit required. All these brokers doesn’t require a minimum deposit or only require a very low minimum deposit to get started trading with.
- The regulations of the broker. The broker must be regulated by at least 1 top tier regulator.
- The broker must provide great trading platforms that work on all the platforms such as web, mobile and desktop.
- The broker must provide great customer support to traders.
After considering all these factors, we have listed the 5 best brokers that do not require a minimum deposit or only require a low minimum deposit to get started trading with.
Now, one thing to remember is that you need to deposit some money to actually trade. It’s crucial to only deposit amounts you’re comfortable losing, as Forex trading carries significant risks.
Now, let’s talk about the 5 best Forex Brokers with no or low minimum deposit required.
1. BlackBull Markets
The BlackBull markets broker provide traders with a no minimum deposit account. This account is called the ECN Standard account. For this account, the spreads start from 0.8 pips and no commission is charged.
The reason why BlackBull Markets is at the top of the list is because you do not require a minimum deposit to get started with them, and it is a great broker that provides a lot of features for traders.
The BlackBull markets was founded in New Zealand in 2014. The BlackBull markets broker provide more than 26,000 tradable instruments.
The BlackBull markets provide traders with 6 different trading platforms, including our favourite trading platform, the TradingView trading platform.
BlackBull markets is highly regulated by a tier 1 regulator, which is Financial Markets Authority (FMA) in New Zealand.
When it comes to customer support, the BlackBull markets provide 24/7 customer support. Traders can contact the customer support through phone, email and live chat.
The BlackBull markets broker provides a leverage of 1:500. Trading with high leverage is very risky unless you are a consistently profitable trader. If you’re interested in high leverage, the next broker in the list will be more suitable for you.
As discussed, you don’t need a minimum deposit to get started trading with the BlackBull markets broker. So, if you are interested in trading with the BlackBull markets broker, click the button down below.
2. FBS Broker
FBS broker is one of the best brokers out there that require a low minimum deposit. The FBS broker provides traders with one main account type called the standard account. For this account, you only require a low minimum deposit of $5 to get started trading. The spreads for this account starts from 0.7 pips and the commission charged from 0%.
An advantage of using FBS broker is its leverage. FBS broker provides traders with leverage of up to 1:3000. Now, high leverage trading is very risky unless you are a consistently profitable trader.
FBS provides traders with multiple trading platforms. These are the MetaTrader 4, MetaTrader 5, and the FBS Trader trading platform.
The FBS broker is highly regulated by tier 1 regulators such as Australian Securities & Investment Commission (ASIC) and Cyprus Securities and Exchange commission (CySEC).
When it comes to customer support, the FBS broker provides 24/7 customer service. You can contact the FBS broker customer support through multiple methods which includes, phone, email, live chat and social media pages.
If you are interested in trading with the FBS broker, click the button below.
3. XM Broker
XM is another great broker that require a low minimum deposit of $5 to get started trading with them. The XM broker was founded in 2009 in Cyprus.
The XM broker is also regulated by tier 1 Forex regulators such as Australian Securities & Investment Commission (ASIC).
The XM Broker provide traders with 3 main trading platforms. These are the MetaTrader 4, MetaTrader 5 and the XM mobile trading platform.
The XM broker provides a max leverage of up to 1:1000 for traders.
When it comes to customer support, the XM broker provides 24/5 customer support to traders. You can contact XM broker customer support through email, phone and live chat.
The XM broker provides 3 main account types. All these account types require a minimum deposit of only $5 to get started trading with. These accounts are called, micro account, standard account and ultra low standard account.
For all of these account types, there is no commission charged. For, the Ultra low standard account, the spreads start from 0.6 pips and for the other two account types, the spreads start from 1 pip.
4. Pepperstone
Pepperstone, another broker that does not require a minimum deposit to get started trading with them. The Pepperstone broker was founded in Melbourne, Australia in 2010.
The Pepperstone broker is regulated by the Australian Securities and Investments Commission (ASIC) & Financial Conduct Authority (FCA) which are both top tier regulators.
The Pepperstone broker provides 5 main trading platforms. These are the MetaTrader 4 & 5 trading platforms, TradingView trading platform, cTrader and the Pepperstone trading platform.
For retail clients, the Pepperstone broker provides leverage up to 1:30. For professional clients, the Pepperstone broker provides a leverage up to 1:500.
When it comes to customer support, the Pepperstone broker only provides 24/5 customer support compared to other brokers in this list. You can contact the Pepperstone broker through multiple methods. These include, Live Chat, Email and Phone.
The Pepperstone broker provides two main account types for traders. These are, Standard account and Razor Account. For the Standard account, the spreads are variable, but no commission is charged. For the Razor account, the spreads are raw, and the commission charged is 3.5 USD per lot, per side.
5. Fusion Markets
Fusion Markets is another broker that does not require a minimum deposit to trade with. Fusion Markets is a relatively new broker that was founded in Melbourne, Australia in 2017.
The Fusion Markets broker is regulated by a top tier regulator, which is the Australian Securities & Investment Commission (ASIC).
The Fusion Markets broker provide traders with 5 main trading platforms. These are the TradingView trading platform, MetaTrader 4 & 5 trading platforms, cTrader trading platform and the Duplitrade, trading platform.
The maximum leverage provided by the Fusion Markets broker is 1:500. If you prefer trading with higher leverage, a better choice would be the FBS broker.
When it comes to customer support, the Fusion Markets broker provides 24/7 customer support. You can contact the Fusion Markets broker through live chat, email and phone.
The Fusion Markets broker provides traders with two main account types. These are, Zero Account and Classic Account. The Zero account is the most popular account. For this account type, the spreads start from 0.0 pips and the commission from $3. For, the classic Account, the spreads start from 0.9 pips and no commission is charged.
Conclusion
In this article, we looked at 5 Forex brokers who do not require a minimum deposit or only require a small minimum deposit to get started trading with them. All the brokers we looked at are regulated by tier 1 regulators in the industry. Also, all these brokers provide great trading platforms for trading to trade with.
